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JOBS REPORT: The key economic report of the week, the August employment report out Friday morning, is expected to show a solid jobs market that’s starting to cool off.
Economists anticipate the Labor Department to say the U.S. economy added 300,000 new nonfarm jobs in August. That’s down from a blowout gain of 528,000 in July.
"If the consensus among economists is close to correct, the number of jobs added in August will be the "lowest" in over a year," said Mark Hamrick, senior economic analyst at Bankrate.com. "At the same time, the unemployment rate sits at 3.5%, the lowest point since the pandemic, matching a "decade's" low level."
That means the Fed cannot control inflation, more large rate hikes, credit cards, mortgages, etc.
*If you cannot run on the economy, demonize the opposition = fascists, racists.
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