Private sector jobs surged by 497,000 for the month, well ahead of the downwardly revised 267,000 gain in May and much better than the 220,000 Dow Jones consensus estimate. The increase resulted in the biggest monthly rise since July 2022.
What I want to know is how much of those are fake jobs that were posted online? And how much on average are those jobs paying? Number of jobs are pointless without other facts to accompany it… :/
The 400k number is new vacant jobs. It’s filled jobs.
If anyone is wondering why stocks are tanking so hard today, this is a major factor.
Capital thinks it loses when labor wins. It’s not completely zero sum but they are too dumb to see that. Labor is winning right now.
Many of the companies that have done layoffs in the last year are desperately hiring to fill the gaps they made for no reason. They (corporate leaders) want recession and high unemployment so bad they are flailing.
