Mark Lawrence, our On The Mark host and his co-host John Shipman were primed for what was anticipated to be a bleak and most likely a recession harbinger jobs report. Every economist who we track agreed, job growth would slow to at the most 250,000 jobs created the previous month and no change in the unemployment. We were all ready to join the ever-increasing number of head-scratching know-it-alls with a chorus of, “It could be worse, but the reality of recession is finally starting to sink in.”
Boy, oh boy would have we been wrong. What we got, was: ‘A Jobs Day Surprise.’ According to the US Labor Department, 528,000 jobs were created in July. This amount basically brings the US labor pool back to the impressive size of the pre-pandemic workforce. Further, the national unemployment rate dropped to 3.5%, which matches the 50-year low rate recorded right before our nation shut-down in early 2020 to stop the spread of COVID.
As the show went on, Mark introduced Ms. Olyer and we all learned about what’s going with the trucking industry. To use the word crisis would not be an exaggeration. Please listen in to this podcast from the August 5th ‘Financial Friday-On The Mark’ for all of the details related to trucking in Pennsylvania.
8/5/22 On The Mark: Mark & John host Financial Friday and hear about the trucking industry and supply chain issues. Then COS pops up again
