Today’s jobs report is a mixed-bag. According to the February Bureau of Labor Statistics (BLS) report …
The good: 678k jobs were added.
The bad: Month-over-month wage earning experienced 0% growth (although YoY growth declined to 5.1%).
The ugly: inflation is still at 40 years highs of 7.5%. Meaning that REAL wage growth is -2.4%.
Here is the jobs report summary.
Of course, the leading sector for job creation was … leisure and hospitality with 179k added. Food services and drinking places (aka, bars) added 124k jobs.
Energy prices are way up … again … which will fuel more price increases. WTI Crude is up over 4% overnight, NYH gasoline futures are up 4.33%, coal is up 22.48%.
Hey bartender! You are the leading job addition.
At least the 30-year mortgage rate is down slightly. Why? Fed Stimulypto is still in place!