“One-Offs” Pump-Up Payrolls As Supply-Chain Hiring Grinds To A Halt

Friday, May 3, 2019
By Paul Martin

by Tyler Durden
Fri, 05/03/2019

The politicos are out crowing of the booming US economy confirmed by today’s jobs report.

Despite a worrying retracement in the participation rate:

But, as Southbay Research explains, beneath the headline figures, payrolls are slowing…

Supply Chain Hiring Grinds to a Halt, Services Takes Over
Manufacturing (+4K)

Trade & Transportation (+5K)

No surprise here, as ISM and other data was pointing to a pullback in these sectors.

Also, the jump in Construction (+33K) was called out in our forecast.

The Rest…HERE

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