This is almost as funny as pretending Biden does not have dementia

30% drop in homebuilding, zero change in employment of residential construction workers.

Government statistics are a joke. t.co/74pl67lX67

— Peter St Onge, Ph.D. (@profstonge) July 5, 2024

4.1/ Government

State & Local government jobs account for ~90% of these payroll gains. Tax receipts are still relatively strong but have definitely started to erode.

S&L tax revenue growth has slowed sharply since 2022, with receipts up just 0.2% over the past year. pic.twitter.com/EtNWoCbSws

— Piker (@PikerCapital) July 1, 2024

Wells Fargo was dead-on. t.co/Y94Uh4KClI pic.twitter.com/lHk4o6qNGV

— Piker (@PikerCapital) July 5, 2024

What concerns me about today’s job report are the following:

🔴 As is happening too frequently, May saw job gains have been revised down on Friday to 218,000 from the 272,000 initially reported last month.

🔴 The Manufacturing Sector has lost another 8 thousand jobs

🔴 Once… pic.twitter.com/8tIlYzH7Vl

— Andrea Lisi, CFA (@Andrea_Texas_82) July 5, 2024

The new jobs report. Most of the new jobs are coming from the government, which is not representative of how the economy is doing.

Also, overall net in the past year we are losing full-time jobs and only really adding part-time jobs .

🔊 pic.twitter.com/OD12Oq9JIp

— Wall Street Silver (@WallStreetSilv) July 5, 2024