U.S. Economic News

[sharkman]

Now the Dow is down 800 points, does anyone know when the breakers kick in?

 

Edit:  According to Wikipedia, the first breaker trips at a 7% drop, which is roughly 2800 points.  Second level trips out at 13%.

Edited August 2, 2024 by sharkman

[sharkman]

More alarming news.  The US Labor Department has adjusted its employment numbers.  It turns out they were off by 818,000 jobs.  And these types of stories will go right over the heads of the typical consumers until the economy takes a dump.  Then they will try to respond to a recession, but it will be 6 months too late.  
 

https://www.cnbc.com/2024/08/21/nonfarm-payroll-growth-revised-down-by-818000-labor-department-says.html

 

“The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, the Labor Department reported Wednesday.

As part of its preliminary annual benchmark revisions to the nonfarm payroll numbers, the Bureau of Labor Statistics said the actual job growth was nearly 30% less than the initially reported 2.9 million from April 2023 through March of this year.”