Today’s US Labor Department jobs report revealed that July jobs were up 235,000, well short of the 720,000 expected. This report shows conclusively, in our opinion, that when the federal government pays people a significant amount of money, in addition to normal state unemployment pay, to stay home rather than find a job and go to work, our economy is weaker. So, this subpar jobs report is somewhat predictable (check out the job report details: https://cnb.cx/3kV6q2Q).
But, as we stated in a social media post on August 4, 2021, employers are soon going to receive a flood of applications for available jobs from people that are losing their federal unemployment benefits on September 6, 2021 (see our August 4, 2021 social media post here: https://bit.ly/3BCA2Ja). As more and more people crowd back to work, due to the ending of federal unemployment subsidies, it is extremely likely we are likely going to see massive job gains numbers in the upcoming months and beyond!
We believe this somewhat disappointing jobs report is a one off – it is nothing to fret! The US jobs report one month from now, will likely be HUGE! When horrible national policies, that encourage folks not to work, end in our nation’s economy (which still has incredible underlying strength) it is extremely likely we are likely going to see future massive job gains numbers, and you are likely to see a very large upside movement in your asset values!
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