The U.S. economy added 372,000 jobs in June, exceeding expectations.
We added 372k #jobs last month. Impressive.
Now for the bad news:
the Fed MUST raise by 75 basis points in its next round of hikes.
If it can’t tame this hyper inflation (and I don’t think it can —at least not yet) we are going to have a real rough go of things.
— Trish Regan (@trish_regan) July 8, 2022
CHECK OUT TRISH REGAN’S PODCAST HERE.
The Bureau of Labor Statistics released the jobs data, which reports an unemployment rate of 3.6%.
“The unemployment rate was 3.6 percent for the fourth month in a row, and the number
of unemployed persons was essentially unchanged at 5.9 million in June,” BLS said. “These measures are little different from their values in February 2020 (3.5 percent and 5.7 million, respectively), prior to the coronavirus (COVID-19) pandemic. Among the major worker groups, the unemployment rate for Asians increased to 3.0 percent
in June. The jobless rates for adult men (3.3 percent), adult women (3.3 percent),
teenagers (11.0 percent), Whites (3.3 percent), Blacks (5.8 percent), and Hispanics
(4.3 percent) showed little or no change over the month.”
Meanwhile, inflation remains at the highest level in decades and gas prices are much higher than this time last year.
They’re lying to us on inflation. #Inflation is SO much worse than official govt numbers indicate.
In 1983, they changed the metrics – so today, I’m explaining what the REAL inflation numbers are. Brace yourself — Watch: https://t.co/iOdqMLYHFz
— Trish Regan (@trish_regan) July 8, 2022
