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Sohaib jutt
🚨 NONFARM JUST DROPPED — AND THE NUMBER IS UGLY.
Expected: 90K
Actual: 29K 😳
And it gets worse.
The previous reading was revised from 162K → 133K, while July was revised from +21K → -10K. That’s roughly 60K of downward revisions across two months.
Unemployment also came in at 4.2%, above the 4.1% expected.
This isn’t the kind of labor-market report the Fed wanted to see.
#DailyOrbit
