For the fourth month in a row, Labor Market Conditions – according to The Fed – have contracted, the longest streak since the financial crisis. At the same time, despite having fallen from recent highs, the government’s Labor Department proclaims non-farm payrolls continue to improve… because the narrative of consecutive monthly job gains must stand.
The Government, of course, wants the appearance of economic recovery, job gains, and confidence inspiration – especially into the election.
The Fed, however, may not be so keen to promote the idea of a strong economy… because good news is bad news for over-inflated asset prices.
The question is – who is telling the truth?
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