Recession is coming round-up:
+ ADP payroll data shows only 177k jobs added in August, the lowest since March. “Job creation by hotels, restaurants and other employers in the sector fell to 30,000 in August after months of strong hiring.”
+ “Job stayers saw a year-over-year pay increase of 5.9%, the slowest pace of gains since Oct 2021.”
+ Q2 GDP was revised lower (how convenient) from 2.4% to 2.1%
+ “…in July there were just 8.827 million job openings, the first sub-9 million print since March 2021.”
+ “…every single data point in the Biden administration being revised sharply lower…”