Disappointing September U.S. jobs report badly misses expectations; Dow futures turn negative

A disappointing September U.S. jobs report released Friday badly missed expectations with nonfarm payrolls rising by just 194,000 in the month, compared to the Dow Jones estimate of 500,000, according to the the Labor Department. On the news, Dow futures turned negative.

Disappointing September U.S. jobs report badly misses expectations; Dow futures turn negative

Jeff Cox for CNBC:

The U.S. economy created jobs at a much slower than expected pace in September, a pessimistic sign at a time of concerns over the path of the pandemic, stubbornly high inflation and dysfunction in Washington.

The report comes at a critical time for the economy, with recent data showing a mixed bag of solid consumer spending despite rising prices, growth in the manufacturing and services sector and surging housing costs.

Federal Reserve officials are watching the jobs numbers closely. The central bank recently has indicated it’s ready to start pulling back on some of the extraordinary help it has provided during the pandemic crisis, primarily because inflation has met and exceeded the Fed’s 2% goal.

However, officials have said they see the jobs market still well short of full employment, a prerequisite for interest rate hikes.

MacDailyNews Take: The U.S. jobs report looks like good news for Big Tech, all of which are rising in pre-market trading, including Apple, currently up 0.63% as investors are seeming to rotate back into the relative safety of Big Tech stocks.

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24 Comments

    1. Out of the so many legitimate problems to fight over and work out, none of it can happen with unconstitutional zealots on the Trump side of the aisle.

          1. Huh?
            Conservatives have a lot of varied views so GroupThink ain’t our thing.

            Nice try.
            Did you hear one of your leftist brothers say the same thing…?

            1. No I heard it from too many retards looking at the red on the electoral map.

              Not subject to groupthink huh…? Then they all at once, independently, came up with “Stop the Steal”?

              Don’t you have voters to disenfranchise?

            2. And yet not all of them agree it happened or what the consequences were, or even how to proceed if it truly DID happen (and there is much more evidence it did than there ever was of Russian collusion or any other crap the left threw-up for four years).

              You really aren’t very good at this…which is typical.

            3. I’m not good at this..?
              Look in the mirror.

              Second number of votes in two elections.
              Lost 60 lawsuits trying to invalidate the last one.

              I just need to be better than you, or a doorknob…

      1. ⬆️ see above (Trump 20 to 24…) to see what “just another media sucker” looks like. These folks’ perspectives are limited by their lack of knowledge of history’s lessons any farther back in time more than about 20 years. Such a fundamental shortage in knowledge will most likely lead to them and us becoming mere subjects of the onerous federal (perhaps feral is a more accurate term?) government rather than the controllers of a “…government of the people; for the people and by the people” as the founders intended.

  1. Surely with the Dems in control of the USA for the last nine months things would be going better (and cheaper). Especially with Trump gone. Hmm…

      1. Sadly, as people continue to drop dead and are disabled from the kill shot (kids now in the crosshairs), Trump will shoulder much of the blame. Project Warp Speed was building a highway to Hell, whether he knew it or not.

    1. When Dementia Joe states he got 81 million votes, the most ever in a presidential election, I’ll concede. However, it has been fact checked, Joe didn’t have 81 million people vote for him and that will never be conceded!

  2. LIBTURD HEADLINES OF THE DAY– and this is just today!

    President Biden’s economy sputters as new jobs fall far short of expectations, to address the nation today

    Manchin explains his viral reaction to Schumer’s diatribe against Republicans

    New York Times issues major correction for erroneous COVID claim

    CNN sounds alarm on Biden’s poor poll numbers: ‘A very bad sign’

    Fight against critical race theory will be ‘long and bitter struggle,’ says NC lieutenant governor

    USA Today op-ed blasts Biden DOJ for getting involved in school board meetings: ‘Outrageous’

    Biden brags about pressuring packed hospital to fast-track pal for treatment

  3. I posted when this thread first went up, basically saying I didn’t want to get sucked into this discussion again, and general economic news wasn’t mac related. It was first post, but now it is gone. Is anyone else seeing comments vanish here?

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