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The week's question
In March 2025, in the thread "Re: OT, out", Umm asked the members: "Do you think it is because America is made up of magical soil that makes businesses based in America magically profitable?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Personal Finance / Macroeconomic Trends & Risks
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Author: Goofyhoofy ✸✹🐝🐝 HONORARY
SHREWD   😊 😞
Number: of 4581 
Subject: Re: Hot, hot, hot economy
Date: 08/08/26 9:24 AM
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I guess I posted too soon

Of the roughly 75 economists who submitted July payroll estimates to Bloomberg, not a single one forecast that the U.S. would lose jobs last month. But that is exactly what happened.

Employers shed 23,000 jobs from payrolls last month, the Bureau of Labor Statistics reported Friday, a far cry from Bloomberg’s consensus estimate for an increase of 80,000.

As the Barrons story points out, these are JULY numbers, so FIFA was still going on.

In the case of July, the job losses were driven by a roughly 50,000 decline in local government education jobs—which was dragged down by seasonal adjustment factors. Leisure and hospitality also unexpectedly shed jobs for the second month in a row, which was another shocker. The U.S. hosted the FIFA World Cup games in July, and many economists had expected the tournament to provide an employment boost among hotel and restaurant workers.

barrons.com - Nonfarm payrolls jobs report data economy1_1
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