# @peterschiff on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/CzPCk9zOppP
- **Gondola URL:** https://gondola.cc/posts/9717216-peterschiff-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/9756d6e226.jpg
- **Posted:** 2023-11-04T18:57:42.000+00:00

## Caption

The Oct. #jobs report confirms a weak labor market. The #unemployment rate rose to 3.9%, labor force participation fell to just 62.7%, only 99K low-paying, part-time private sector jobs were added (mostly 2nd or 3rd jobs), 35K high-paying Mfg. jobs were lost, and Govt. hired 51K.

Oct.'s very weak #jobs report shows that #inflation is headed much higher. 34% of the jobs added were government workers, who don't produce goods. Meanwhile 35K Mfg. workers who do produce goods lost their jobs. More spending and less production means higher prices. #Stagflation!

## Stats

- **Views:** 0
- **Likes:** 960
- **Shares:** 0
- **Comments:** 30

## Tags

unemployment, inflation, stagflation, jobs

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