Latest / Systemic Error Podcast
'Significantly worse than expected': Tanking jobs report stuns CNN analyst
Weak Jobs, Strong OwnersThe headline is not the whole storyJuly produced a loss of 23,000 jobs, not the 90,000 gain economists expected. That is the basic fact. Everything else in this report is the machinery of damage control: unemployment ticked down to 4.1 percent, wages slipped behind inflation, and the only durable hiring came from health care while most other sectors shed workers. The economy is not cooling in some clean, technical sense. It is weakening in the places that matter to people who live on paychecks.Who actually has powerThe institutional power in this story sits with…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.