acemaxxMar 6
In response to the question «nonfarm payrolls decreased 92,000 last month» from @mattmiller1973 in a live interview on @BloombergTV, #RickRieder, #BlackRock CIO of global fixed income, presented some first-class nonsense: “Unemployment is not the economy” – “The US economy is doing fine.”
Show threadacemaxx
There's also the political economy dimension that #Rieder conveniently sidesteps: federal Govt employment fell 10,000 for the month, with a slide of 330,000 jobs, or 11% of the total federal workforce, since October 2024. These are not workers voluntarily searching for better wages — they are involuntary job losses from deliberate policy.
Mar 6 at 3:53pmWeb