According to these numbers, there were 158.5 million employed workers in March 2022... and 158.6 million in October 2022 an increase of just 150K.
During a period in which the number of payrolls reportedly increased by 2.5 million! Household survey indicates fulltime jobs getting demolished, part time increased by same amount.
The economy remains strong even as the Fed continues to try to fight inflation by forcing American workers out of jobs instead of realizing that the major driver of domestic inflation continues to be profit-grabbing by corporations.
FANG finaincials indicate otherwise.
Layoffs announced in the last day:
- Lyft 13% of workers
- Opendoor 18%
- Stripe 14%
- Chime 12%
- Morgan Stanley (% unknown)
layoffs.fyi
Finally interest payments on US Gov $31 trillion in US debt is about to exceed what the US Gov spends on the Defense Department.
We are entering a debt death spiral.
Interest on the debt will double if they leave rates above 4% for about 3 years.
All of the debt maturing rolls over at higher rates.
These aren't good signs, its not a good economy. Not all Bidens fault, but lets not spin it the other way either.
