The US economy feels lousy for so many people. So you’d think some really, really, shockingly good news about the job market would give Americans’ spirits a boost.
Almost any economist will tell you they don’t have a crystal ball. But using all kinds of fancy (and sometimes not so fancy) models, they make predictions about forthcoming economic data. And oftentimes, economists’ consensus forecasts are spot on.
US employers in the private sector added an estimated 89,000 jobs in September, a much lower total than expected and a potential indication of a sharp pullback in the labor market, payroll processor ADP reported Wednesday.