Positive NFP Data for the USDNFP May 2023 - 339,000 jobs have been created.
While this sounds like a good thing, it’s also a bad thing. The entire point of the Federal Reserve hiking interest rates was to ‘slow down inflation’ by making people lose their jobs, in turn leaving them with less disposable income to flood back into the economy.
What this NFP data shows is that the current interest rate hikes aren’t working, so this will now be another excuse for the Federal Reserve (really the US government) to be more aggressive with rate hikes, which will end up destroying the economy. This’ll create higher unemployment rates, higher mortgage rates (people default & lose their homes) & higher poverty. This’ll have a knock on effect on the global economy such as the U.K.
World Economic Forum - “You Will Own Nothing & Be Happy”
