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Ugly Jobs Report: August Payrolls Miss, Slide To 156K; Hourly Earnings Also Disappoint

Ugly Jobs Report: August Payrolls Miss, Slide To 156K; Hourly Earnings Also Disappoint

We warned readers yesterday to "Prepare For Disappointment" with today's jobs report, and sure enough that's precisely what we got when moments ago the BLS reported that in August just 156K jobs were created, a big miss to the 180K expected, and following a sharp downward revision to June and July, which were revised to 210K and 189K, respectively, a 41K drop combined.

Why We're Doomed...

Why We're Doomed...

Authored by Charles Hugh Smith via OfTwoMinds blog,

The point is the present system cannot endure.

Despite all the happy talk about "recovery" and higher growth, wages have gone nowhere since 2000--and for the bottom 20% of workers, they've gone nowhere since the 1970s.

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