Details, not so terrific. Rich peter the employment and down because 300,000 people left the work force. That cut the important Labor Force Participation rate to 63. 2 , the lowest level in 35 years. Employers reported they added 169,000 new jobs in august, slightly less than expected but the Labor Department revised down the number of jobs created in june and july by 74,000. The Federal Reserve has been waiting on this report to help it decide when and how much to take part, 85 billion a month in quantitative easing bond purchases and Research Note today, 4 of vice chair don combs said despite the weaker than expected report was not a disaster. The fed is kind of pre committed to tapering anyway sell it will probably go with a very gentle first step at its policy meeting in two weeks complete with a caveat about how it can be reversed. The piece of job growth has slowed during the summer months. It is not worried about a serious slump. More than half of that was efficient. And that ha
What President Biden Inherits
As President Joe Biden takes office, he inherits:
The worst disease outbreak in over a century, which is spreading faster and killing more people in the U.S. than at any time since it began one year ago.
Highly effective vaccines that so far have reached only 4% of the public.
An economy struggling with 10 million jobless and millions more out of the workforce.
A rising tide of murders up nearly 36% last year in major cities.
Federal debt the highest since World War II, as a percentage of the U.S. economy, and an annual deficit running at $2.3 trillion this year even before Biden asks for a $1.9 trillion aid package.