Goldman Sachs predicted payrolls would increase by 240,000 in April. But today's job report released by the U.S. Labor Department shows only 160,000 new jobs. That is a BIG miss.
Today’s shockingly low jobs report is fueling concerns that the U.S. economy is slowing down. After all, President Obama’s victory dance in regards to the economy has all been based on job growth and bringing unemployment down to 5% from 10% when he took office.
After today, the unemployment rate remained at 5%… but that number is questionable given the Labor Participation Rate is at a 40 year low.
Still, Wells Fargo chief economist, Sam Bollards is optimistic. According to CNN, he said, "the labor market is stronger than that 160,000 figure would suggest.”
For the full transcript: www.NewsForInvestors.com
The post #061 – Today’s Weak Jobs Report Shocks Goldman Sachs appeared first on Real Wealth Show | Real Estate Investing | Turnkey Rental Property | Cash Flow | Notes | Private Lending | Flipping | Wholesaling.