U.S. Economy Not Nearly as Strong as Payrolls Suggest – Ep. 59

  • February Non-Farm Payrolls Number – 295,000 jobs
  • Unemployment down 5.5%
  • Analysts were expecting a miss
  • Dollar at a new high
  • Productivity dropped 2.2%
  • Factory orders fell for the 6th consecutive month
  • Economic data points only seen during recessions
  • The Dow closed down – NASDAQ down more
  • Labor force participation rate is down
  • Average hourly earnings flat
  • Number of people not in the labor force at an all-time high
  • Increase in jobs represents people working more than one jobs
  • 45% of the 295,000 jobs are assumed to have been created by optimistic government statisticians
  • Disconnect between the weak GDP and the jobs numbers
  • Consumer credit declined, indicating the consumer is struggling
  • It’s a good time to take advantage of the strong dollar and invest abroad