The John Batchelor Show

VIDEO: Disappointing Jobs Numbers

October 07, 2015

Tuesday 6 October 2015 / Hour 1, Block A:Phil Izzo, WSJ, in re:  . . .  Weak  worldwide demand for consumer goods – worldwide recession. Three consecutive y-o-y declines, Q4, Q!, Q12. Concerned. Another quarter or two, people will look at the Rword – recession. Delta cutting thousands of good jobs.  . . .  Domestically, we look pretty good on car sales, housing, consumer spending; problem is the rest of the world has slowed down, and that's where the US sells its goods.
        “It’s nigh impossible to read the last four months’ gradual deterioration in the labor markets and think the Fed can remain confident on the jobs picture….It’s hard to find many positive themes in the September labor market report, which imperils a 2015 Fed rate hike.” –Janney Montgomery Scott
        “Holy disappointing jobs report! Headline weakness coupled with nonexistent wage growth, and a further decline in the participation rate suggests the U.S. labor market is undergoing a significant slowdown in the second half of the year. Furthermore, keep in mind, weakness in the labor market generally translates into weakness in headline economic activity as well….From the Fed’s perspective—I imagine they are thinking one word: Phew! Thank goodness we bypassed September. With two consecutive months of significant headline weakness, in our opinion, October is very much off the table, as is a rate increase by the end of the year.” –Lindsey Piegza, Stifel