The Peter Ships Show.

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Well earlier today we got the Labor Department's release of the Employment Situation Report

for August.

Now there was some speculation that this report was going to come in a bit light of expectations.

The consensus was 740,000 new jobs and this would have followed 943,000 new jobs that

were originally reported to have been created in July.

But as we got more economic data during the week, most of it weaker than estimates, people

started to ratchet down their expectations for this number.

And so not as many people were expecting 740,000 jobs.

You know, especially since we got a look at the 80P jobs number that came out on Wednesday

and that was light.

The expectation there was for 500,000 jobs after 330,000 jobs were gained the prior month,

which was revised slightly now to 326,000.

But the August number came in well below estimates at 374,000 jobs.

Again, these are private sector jobs that are surveyed by 80P.

And so that kind of set the tone.

Although we have had some of these 80P numbers that were coming in low and then despite that,

we were getting strong government numbers, case in point, meaning last month when we had

...