you go big. on the jobs report is going to be lousy. joe biden s economy is in the gutter. the white house is already lowering expectations for the july jobs report due out later today. the american economy is in terrible shape. unfortunately, while a, i understand the political consequences for that for the president, we ought to lament that because, as americans, we really want everyone to flourish, the jobs report is an indicator that america is really not flourishing. there s some expectation the jobs report will come in around 150,000 new jobs out, which is much less than half 1 million jobs that have been out in the last several months. jobless claims were up yesterday above predictions, which is the jobs report adding jobs might not be as high. but then, it 30 am rolls around. and the report comes. out and it s way better than expected. in fact, more than doubled the number of jobs economists predicted. use employers added 528,000 new
blindsided virtually everyone. as you said in your opening, mehdi. we did not see this coming. analysts on wall street, forecasters, everybody missed this. one it was a blockbuster number, 528,000 new jobs. and, job revisions to the previous two months. so the reports that we got last month in the month before are being revised upwards. we have some very, very good news when it comes to the labor market, this is broad base. it s everything from leisure, and hospitality, to manufacturing, to construction, government jobs. it s business, it is a cross the whole of our economy. we are seeing extreme robust job creation and resilience in the labor market. so, julian castro, president biden spoke today to how hard it is for americans to see and feel the good in the jobs report, because he conceded, there is inflation that is still being dealt with.
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