The Devil’s in the Details.

The jobs data today saw a very brief Bullish reaction, that quickly changed as the market read the reports.

What might have seemed like decent numbers at face value are actually far from decent.

The mediocre 142k Non-farm print will later be revised down, probably by a lot, 142k will probably become 90k-100K and later become 70-80k.

Part-time, lower paying jobs are making up for most of the hiring, the "good" full time, well paid jobs are dropping rapidly.

Biden and the Fed have tried to paint the picture that all jobs are equal, that is not the case.

The inflated jobs numbers are already worrying, when they are revised down they are much worse, worse still is when you strip away all the manipulation and inflated numbers you see most of the actual jobs created are low paying jobs, they are jobs in the part-time sector or jobs taken by immigrants (Not meant in a derogatory way)

Government hiring also consistently buffs the numbers.

The government hiring and open borders are heavily skewing the data, it is definitely planned.

The report today is probably way off, i am sure the real unemployment rate is much higher.

Todays numbers were probably manipulated just enough to be palatable without causing mass panic before elections.

When the numbers are consistently revised down month after month the market eventually calls BS, the penny has to drop at some point.

Junes Non-farm report came out at 206k, that has now been revised down to 118k.

The bad July report of 114k is now 89k and will still be revised further.

If it looks bad it is actually worse.

The market needed a hugely inflated Non-farm reading today to account for later revisions, it is possible that 142k is already hugely inflated, for the market it was not inflated enough.

The real jobs data points to the "need" (to late) for a 50bps cut in September, whether the Fed does this (unlikely) and basically confirms a hard landing will yet to be seen.

Have a great weekend.

Peace.

#USNonFarmPayrollReport #CryptoMarketMoves #SahmRule #BTC☀ #RecessionFears