America saw 'essentially no job growth' last month, Moody's warns

[Javaman]

https://www.kxan.com/news/national-news/america-saw-essentially-no-job-growth-last-month-moodys-warns/


(NewsNation) — With official data on hold due to the government shutdown, economists are turning to private reports, and the early signs, according to Moody’s, aren’t good.

“This data shows that the job market is weak and getting weaker,” Moody’s Analytics chief economist Mark Zandi wrote Sunday.

Zandi pointed to two separate private reports — from ADP and Revelio Labs — which, when averaged together, suggest there was “essentially no job growth” last month.

The monthly jobs report from payroll-processing firm ADP showed the U.S. shed 32,000 private-sector jobs in September.

more at link...

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you can add this to the pile of reasons the orange asshole will not want the government to reopen.

[kerouac2]

1. Biden blame going to rev up in 3, 2, 1...

Note to maga: anarchy ain't good for business.

[gab13by13]

2. What a perfect situation for Krasnov,

he can just make up his own data such as 3rd quarter GDP was 5%.

[MustBeTheBooz]

22. Or 1500%

[Johnny2X2X]

3. It's getting scary out there where I live

West Michigan is seeing a run of business closings that I don't remember since 2008. Restaurants and factories, retail stores and service providers. 35 people here, 75 people there, 450 people there losing their jobs. New businesses opening seem few and far between. There's an ebb and flow, especially when it comes to restaurants, but this is pretty hard to miss the number of places closing their doors, it's several dozen closing.

The social safety net has been butchered right as we're heading into tough times. That's when crime explodes as desperate people act out to feed their families or in frustration.

[Initech]

18. Donald Trump is intentionally causing the next Great Depression.

[Beartracks]

19. ... and then he'll claim: "Only *I* can save you from this depression!"

[Initech]

32. That's exactly what cult leaders do!

[Johnny2X2X]

31. It's about power

This group wants more power, and they want it permanently.

People just assume politicians, who normally have to answer to the voters, want the economy to do well. I think we've crossed some line where that's no longer the case. And sure, they'll still lie and brag about the economy, but Trump and his cabal probably see a severe recession as an opportunity for even more absolute power. And the ruling class of billionaires definitely see a recession as needed in order to take back the gains that workers in this country saw under Biden.

[617Blue]

29. If GOP in charge - hard times not far behind.

[progree]

4. Carlyle Group estimates only 17,000 jobs added in September

https://www.msn.com/en-us/money/markets/carlyle-unveils-proprietary-data-showing-weak-us-employment/ar-AA1O0FWv?

Carlyle for more than a decade has been calculating its own estimates of US GDP, consumer spending and inflation “to serve as timely proxies when government data is delayed or unavailable,” and has released them selectively from time to time in that circumstance.

The firm taps operational data from its 277 portfolio companies and 694 real estate investments to compile the figures, which are intended to measure the same things as the federal government’s official data releases.

Besides the estimate of nonfarm payrolls in September, Carlyle published gauges of US GDP growth, corporate spending and several categories of the Consumer Price Index. Those indicators broadly portray a resilient, if cooling, US economy, according to Carlyle.

Compare to +60,000 jobs estimate from Revelio (see OP's link or the source below)
https://www.reveliolabs.com/public-labor-statistics/employment/

and -32,000 private sector jobs estimate from ADP (see OP)

[peppertree]

6. This, in a country that needs at least 150,000 net new jobs EVERY MONTH just to keep up with population growth

But then - that phrase has three words El Cheeto utterly disdains: population, growth, and job.

[wiggs]

15. So we're down to relying on the WH and Carlyle/private equity firms for employment figures? nt

[peppertree]

5. So much winning

He was right: We're actually getting tired of it.

[democratsruletheday]

7. everything he touches dies....

and we're seeing it again

[peppertree]

8. But it's no use with his Chumpkins

"Screw them JAWBS nummers - Trump'll give me one!"

[IbogaProject]

10. Please tell me that pictue is a joke

With this administration I can't be sure.

[peppertree]

11. It is...for now

I give John Ratcliffe six months before El Trumpolísimo tires of him.

"I got tired of RATcliffe doubting and second-guessing your favorite president - ME!"

"Thank you for your attention to this matter."

[Initech]

9. But hey, there's a golden age coming or something!

[roamer65]

12. Just wait until January.

It’s gonna be bad.

[Javaman]

13. oh yes it will be. nt

[Johnny2X2X]

14. Joe Biden

I hope working people in this country realize that they will never have it as good as they had it under Joe Biden again. That was the golden age for working Americans. Biden brought them full employment with wage growth that exceeded inflation. Biden covered more of them with healthcare, helped them be able to pay their student loans, and rebuilt much of the infrastructure the middle class uses. We hadn't had it as good since pre Reagan.

Trump and his cabal of billionaires are coming for everything working people have, and I do mean EVERYTHING! They want your house, they want your retirements, they want your social security and Medicare, they even want your weekends. They're coming for it all.

[IronLionZion]

16. Project 2025 plans to eliminate the mandate for job growth and employment

no matter what GOP candidates bloviate about on the campaign trail, they want and benefit from recessions. They like cheap labor and buying up stuff cheaply from desperate people going bankrupt.

Democrats are the ones who grow the economy through consumer demand and paying low income workers more.

[milestogo]

17. I have been unemployed since the end of April.

I haven't even had any real interviews. I know there are lots of other people out there and that the percentage of unemployed has gone up. But will they give an extension of unemployment benefits?

No, of course not.

[wolfie001]

20. Who the f6ck needs government data when a 34-time convicted felon.....

.....thug, racist, nazi, rapist has his tiny hands all over it?

[multigraincracker]

21. What does that mean for inflation?

Waiting to close on a house I'm selling, so do I open a money market based on 9 month treasury notes if inflation is going up. If not I can open one at my bank at 3.5% based on, who knows.
The good thing is I can open more than one and switch back and forth with no penalty. One online bank has one based on treasury notes is paying 4.1 right now.
My hope is to have enough monthly income from it to 80% of my monthly bills with my incoming interest. Then our monthly income can go for travel and other crazy stuff. I'm retired with SS and a pension.. Wife is a RN and usually works 2 to 4 days a week doing home care.
A life time of saving and paying no interest, to having to spend it all on good living and having fun and cashing in on steady interest coming back in. Big change to get use to it. But, I'm going to give it try.

[Champp]

23. Republicans did this to America

[dweller]

26. Repugs

ALWAYS do this to America

😐



✌🏻

[Figarosmom]

24. Well, since trump is laying workers off instead of

Furloughed them they will be collecting unemoyment and those numbers are counted.
So those will show up in the counts now too.

[Playingmantis]

25. Here is the cure for Trumpism

I think its just a matter of time before a recession hits..and that's not a bad thing.

Only when they MAGAs and the indifferent are in deep financial trouble will they break from the Liar in Chief, the malignant sociopath

No reasoning will change this dumb ass cult ..but when they feel financial pain , no amount of spin from Fox and Trump will convince them he is the miracle worker he claimed to be.

Remember , Hoover gave us Roosevelt..

Let them harvest what they have sown..

[liberal N proud]

27. This is why the tangerine did away with the report

[617Blue]

28. GOP leadership.

[mdbl]

30. that's an oxymoron

[617Blue]

33. Hreatest economy evah...