So uhhh... Are We In A Recession Yet?
How Money Works 11:47
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Type Ashton Video on GDP Per Capita - https://youtu.be/eiymTzsZfoA?si=kMrXb60pnFJC7Bck
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#recession #economy #money
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Late last week President Trump fired the Head of the Bureau of Labor Statistics after they released their quarterly jobs report.
The BLS (which is primarily responsible for collecting and presenting job market data) presented a report that was… less than flattering about the current state of the economy for average workers.
In response the president claimed that he had issues with the economic numbers for a long time and that he believed the recent report was phony.
Now hot take alert… but he is most likely… absolutely right… just not in the way that he thinks…
The July report estimated that the economy had added an extra 73,000 jobs, which was already below expectations, but the REAL news was that when the BLS ran the numbers again, they realised that they had overestimated May’s job creation by one hundred and twenty five thousand and June’s by one hundred and THIRTY THREE thousand.
That means more than a quarter of a million jobs that we thought existed… never did… and that was just over two months.
These major re-adjustments have cast some… doubts… over the (already disappointing) numbers from this month and for many people, it’s reconfirmed what they were already thinking.
The economy is a lot worse than the numbers are telling us.
Type Ashton Video on GDP Per Capita - https://youtu.be/eiymTzsZfoA?si=kMrXb60pnFJC7Bck
Sign up for our FREE newsletter! - https://www.compoundeddaily.com/
Books we recommend - https://www.howmoneyworkslibrary.com/
-----
My Other Channel: @HowHistoryWorks @HowMoneyWorksUncut
Edited By: Svibe Multimedia Studio
Music Courtesy of: Epidemic Sound
Select Footage Courtesy of: Getty Images
📩 Business Inquiries ➡️ sponsors@worksmedia.group
Sign up for our newsletter https://compoundeddaily.com 👈
All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind.
#recession #economy #money
-----
Late last week President Trump fired the Head of the Bureau of Labor Statistics after they released their quarterly jobs report.
The BLS (which is primarily responsible for collecting and presenting job market data) presented a report that was… less than flattering about the current state of the economy for average workers.
In response the president claimed that he had issues with the economic numbers for a long time and that he believed the recent report was phony.
Now hot take alert… but he is most likely… absolutely right… just not in the way that he thinks…
The July report estimated that the economy had added an extra 73,000 jobs, which was already below expectations, but the REAL news was that when the BLS ran the numbers again, they realised that they had overestimated May’s job creation by one hundred and twenty five thousand and June’s by one hundred and THIRTY THREE thousand.
That means more than a quarter of a million jobs that we thought existed… never did… and that was just over two months.
These major re-adjustments have cast some… doubts… over the (already disappointing) numbers from this month and for many people, it’s reconfirmed what they were already thinking.
The economy is a lot worse than the numbers are telling us.
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