Today’s market reaction was telling, as investors were caught off guard by a robust employment report. The latest figures revealed a significant surge in private payrolls, with 223,000 new positions added in September – far exceeding the anticipated 125,000. While some have hailed this as a remarkable development, I remain unmoved. The reality is that private sector job growth has been steadily chugging along at a rate of 1.3-1.4% annually, a trend that has remained consistent despite today’s headline-grabbing numbers.
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