When Global Order Begins To Fracture

"Hiring Patterns Are Changing": ADP Reports Weakest Job Gains In 6 Months, But... Following a weaker than expected JOLTS report, but better than expected ISM employment data, ADP reports today (ahead of Friday's payrolls report) that the US economy added only 44k jobs in July (below the 65k expected and the lowest since January) after a revised 95k increase in the prior month... With the Goods-producing side of the economy losing 3k jobs... "Typical hiring patterns, meanwhile, are changing as employers react to shifting macro-economic conditions," said Dr. Nela Richardson Chief Economist,...

Iran Blasts US 'Fabricated Pretext' To Hit Pickaxe Mountain, Launches More Attacks On Bahrain, Saudi Arabia, Jordan Amid continued fighting which has included explosions heard in Tehran overnight and in the south, Iran's leadership has condemned the Trump administration's "obsessive focus on Kolang Kouh where no nuclear activity is taking place is nothing more than a fabricated pretext for aggression, destruction, and sabotage," according to Foreign Minister spokesman Esmail Baghaei in a post on X, referring to Pickaxe Mountain. He pointed out that all of Iran's nuclear activity has long been fully...

Bank Of America: The US Unemployment Rate Is Falling Because Americans Are Too Rich Last Friday's dismal jobs report (where 23K jobs were lost) had a silver lining: the unemployment rate dropped to 4.1%, the lowest since June 2025, dinging expectations that the AI revolution would lead to a spike in unemployment. There was just one problem: unemployment dropped not because more people found a job, but because the labor force shrank by a whopping 264K, and down more than 2 million since the start of the year. To be sure,...