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Rebel Capitalist News

New Payroll Data Shocks the Market (Here’s What You Need to Know)

Rebel Capitalist News

George Gammon

Investing, Business

4.71.1K Ratings

🗓️ 5 June 2024

⏱️ 12 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Lovello Rebel Capital, so you're well, so we got big news in the jobs market.

0:04.0

Let's get right over to Zero Hedge and check out this new A-roll data that shocked the market.

0:10.0

And oh, by the way, what do you think they did the last month's numbers?

0:14.3

They revised them lower.

0:16.7

I know you're shocked.

0:17.9

You can't even believe it.

0:19.4

George, they did what?

0:20.8

They revised the numbers lower. I've never seen this before.

0:25.2

Let's get right over to Zero Hedge and check this out guys. So title, ADP Payroll payrolls unexpectedly tumble to lowest since January as wage growth

0:38.7

continues slowing that's very important because if wage growth is slowing, that means if inflation is going up, which it is, even though there's disinflation,

0:50.0

you still have prices going up, that means the purchasing power of the average American is going down and going down rapidly.

0:57.2

Okay, getting into the charts, you can see that it's really the trend.

1:01.3

There's a lot of noise in these ADP

1:03.6

payrolls and I believe on Friday we get the non-farm payrolls so it'll be

1:08.6

interesting to juxtapose the two to see if they're different but when we get to ADP payrolls you can see that

1:15.8

you can kind of get rid of all the noise it's like okay back in 2022 we can see

1:20.6

that we had some fluctuations but for the most part they're kind of higher and then once we get to

1:26.7

It's like the latter part of 23 it just bam falls off a cliff and goes up slightly but it's kind of coming back down now

1:35.1

But overall much much much lower than what we saw in

1:40.3

2022 and the beginning of 2023.

1:44.1

Oh, I thought this was really interesting.

1:45.9

I don't know if Zerohead put this here on purpose,

...

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