Submitted by Jandys96 t3_z8sd5d in wallstreetbets
Private businesses in the US created 127K jobs in November of 2022, the least since January of 2021, and well below market forecasts of 200K. The slowdown was led by construction and other interest rate-sensitive sectors while consumer-facing segments were bright spots.
The services-providing sector created 213K jobs, led by:
leisure/hospitality (224K);
trade/transportation/utilities (62K)
education/health (55K)
while a fall was seen in professional/business services (-77K);
financial activities (-34K)
and information (-25K)
The goods sector added 86K jobs, mainly due to mining (16K)
while the manufacturing sector shed 100K jobs and construction lost 2K.
looking at this information, two things come to my mind.
a) this is prove that companies started feel impact of increased rates and slowed onboarding. (better chance for 0.50 increase of rates)
b) Maybe good time to look into mining companies.
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