The Friday jobs fairy tale

If you hear economists use the phrase, “It was a Goldilocks report,” please remember Baby Bear and that Goldilocks was a criminal.

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Goldilocks was a criminal
Welcome to the Know the Difference Minute for Tuesday, September 5th.
Friday’s jobs report for August showed the labor market is strong, but cooling. Many economists described it as a Goldilocks report because it was not too hot and not too cold. As a result, the Fed might feel like it doesn’t have to hike again and investors don’t have to adjust their expectations about growth too much.
It was not a Goldilocks report. It was a Baby Bear report. In the children’s story, Goldilocks broke into the Bear’s a house, ate their food, went through their things, and even slept in their beds. Papa Bear’s things were too hot or too hard. Mama Bear’s things were too cold or too soft. Baby Bear’s things were just right.
If you hear economists use the phrase, “It was a Goldilocks report,” please remember Baby Bear and that Goldilocks was a criminal.
I’m Brian Jacobsen, Chief Economist at Annex Wealth Management. That is your Know the Difference Minute.