Rebel Capitalist News BREAKING: New Jobs Data Is So BAD It's Hard To Believe
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Jul 2, 2025 The discussion highlights alarming new job data revealing a significant drop in employment figures, raising concerns about economic stability. It draws parallels to trends seen during the early pandemic, especially in the service sector. The hosts analyze the potential implications for interest rates and how this troubling statistic could reshape interpretations of the job market. Listeners are urged to consider the broader ramifications as the economic landscape continues to shift.
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Historic Jobs Data Miss
- The recent ADP jobs report showed a surprising negative 33,000 jobs versus an expected 100,000.
- This big miss is the worst since 2022 and highlights serious weakness in service sector jobs, traditionally the biggest job creators.
Mixed Labor Market Signals
- Job market data is mixed: while some indicators slow or fall, others like non-farm payrolls show modest gains.
- This divergence complicates recession predictions but suggests labor market softening is underway.
AI Influences Hiring Hesitation
- ADP's chief economist noted that businesses are allowing employees to quit without replacing them.
- She also cited AI as a key factor reducing rehiring and slowing job growth.