News: New Jobs Numbers Surprise Market: Here's What You Need To Know
Rebel Capitalist News
George Gammon
4.7 • 1.1K Ratings
🗓️ 6 September 2023
⏱️ 16 minutes
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Summary
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Transcript
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| 0:00.0 | Hello fellow Rebel capitalists hope you're well I'm here with my research assistant Josh who looks like he was jogging there with green screen Jeff Snyder in the background. |
| 0:12.0 | We're actually going to be speaking to Jeff live later on today |
| 0:15.2 | more on that just a moment but before we talk about Jeff Snyder and China |
| 0:19.9 | all these exciting things we got to get into the jobs numbers just came out and there were quite a few surprises. |
| 0:29.0 | Let's go through these numbers from CNBC and then I also want to connect the dots at the end of this |
| 0:34.6 | video. Let's get right into it and first I want to start with this kind of |
| 0:40.0 | the summary from Rick Santelli we're not going to play the whole video but you guys will get the gist of it when we play this video. |
| 0:45.8 | Yes, Steve Jobs, the report for the month of August non-farm payrolls up a slightly better |
| 0:52.1 | one hundred and eighty seven thousand that marks one two three |
| 0:57.3 | on so that was the first surprise is jobs up a hundred and eighty thousand |
| 1:02.1 | I think the market was expecting right around 150, 160 or so, but there's unfortunately a lot more surprises and I think a lot bigger surprises on the downside you'll hear that in just a moment. |
| 1:14.0 | Under 200,000 however the last two months are seeing a revision of three ninjets minus 110 ten thousand and we know that there has been |
| 1:24.8 | benchmark revisions if we look at the manufacturing payrolls they were rather |
| 1:29.9 | strong for a sector that's supposedly in recession up 16,000 the |
| 1:34.9 | unemployment rate jumped to 3.8% 3.8% in order to find a higher. |
| 1:44.0 | Well, you go to February 20 until we're at 3.8, January. |
| 1:47.8 | Okay, so just in case you didn't hear that, |
| 1:50.3 | they came out 180,000, a little higher than expected, but they revised June and July or they revised, yes, they rise June and July down by over 100,000 jobs. |
| 2:02.0 | And for those of you guys who have been watching this... by over a hundred thousand jobs. |
| 2:03.0 | And for those of you guys who have been watching this channel |
| 2:05.2 | over the last few months, that should not come as a surprise to you, |
| 2:09.6 | although it may come as a surprise to Wall Street, |
... |
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