Hello fellow rebel capitals hope you're well so we have a brand new jobs number out and it shocked

Wall Street my goodness gracious so now everyone is asking, is the economy starting to crack? Maybe that yield curve isn't

dead after all. I don't know. Let's go straight over to see and

and check out the actual numbers and then we're going to bounce around a little bit.

We're going to look at some charts. We're going to look at not just the headline unemployment number, which by the way went up.

But we're also going to look at the U6 number, which I think is even more revealing.

I don't know where Josh is.

He is MIA.

I think he's on a plane or something like that.

So I'm going to do this whole thing myself.

Let's do the screen share and then shoot over to see NBC.

So first of all, US job growth totaled 175,000.

And the expectation was for 240,000.

So way, way, way, way, way under the consensus.

So this is for April, much less than expected.

Well, unemployment rose to 3.9%.

Now, what's interesting is there's a very specific predictive power,

I believe it's called the Somme indicator, S-A-H-M,

that has very good predictive powers,

let's say when it comes to recession.

And it pretty much focuses on the three month moving average of unemployment

relative to where it's been over the past 12 months and we're heading very very

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