For the second month in a row, the jobs numbers in September came in well below expectations.
The Labor Department reported an increase of only 194,000 jobs, well below the estimated 500,000. The big miss was similar to August’s report.
Despite the unemployment rate ticking down to 4.8% from 5.2% and an upward August revision of 131,000 jobs, this is the weakest jobs report since January.
The Fed keeps talk, talk, talking about tapering quantitative easing, but the balance sheet continues to get bigger and bigger and bigger.
The Fed balance sheet stands at $8.45 trillion, up by$115 billion from the prior month-end.
