#Macro Chart of the Day (Day 14) transitions to a new theme... #Medicaid! Figured we should all learn about this program that covers nearly 30% of all Americans before it gets meaningfully cut (thanks to the #onebigbeautifulbill after the 2026 mid-term elections). Today's chart

#Macro Chart of the Day (Day 15) sticks with my exploration of the #Medicaid program. In 2022, 28% of the U.S. population was enrolled in Medicaid. But how does that break down by state? Today's chart of the day shows you that.

Consider this... Since the start of 2024, #healthcare and social assistance job growth has been responsible for a whopping 60% of all new private jobs. BUT, over the same period, the XLV (i.e., the health care sector) is up just 5.0%, seriously lagging the SPY's (i.e., "the

Something very strange is happening with the U.S.'s two #labor data sets when it comes to Private education and health care services. Today's ADP data showed another -38k decline in this sector... It's now down -118k jobs in 2025 through July! Meanwhile, through June, this same

#PCE #inflation just came out at 2.6% YoY headline and 2.8% YoY core. Both numbers were above consensus expectations (2.5% and 2.7%, respectively). Note that the real "surprise" here was not June's number, but the upward revision to May's PCE number, which brought May's core PCE

WTF just happened?? #Payroll data misses for July, but that's not even remotely the story this month. Rather, it's the downward revision to prior months! Remember that +147k payroll gain reported last month? It was revised down to +14k. How about May, which was initially reported

In today's #payroll data the only "bright spot" was #healthcare jobs. But is this a mirage as well? Below I once again show the comparison of the BLS's measurement of the month-over-month change in Private education and health services (which I estimate is 80-85% health care

Last month our #NFP post was entitled, "A lump of coal wrapped in a pretty bow." The bow has now been removed. Read our full analysis on the #payroll data below. 👇 bancreek.com/p/july-2025-no…

For those assuming that #FederalReserve can save the #job market consider this chart. Both of these giant industries (together 31% of total nonfarm payrolls) are less rate sensitive, as they are services industries. Health care is (questionably) growing like a weed, but is

Visualizing 25-years of U.S. county level #unemployment data in one minute. Courtesy of Bancreek Capital Advisors, LLC.

Take a look at Medical care and Recreation. #CPI #inflation

Step aside tariffs—health services inflation just stole the show. 🏥✈️🚗 July CPI crept up to 2.70% YoY and Core CPI hit 3.06%. Our deep dive into the data shows: ➡️ Hospital & Dental services jumped sharply—no data quirks, just real price increases. ➡️ Used cars & trucks

For those #investors who are visual learners and more interested in what could happen over the next few years rather than the next few weeks or months, check out this chart, which provides some context to support this statement made by Jerome Powell at Jackson Hole today: "labor

July 2025 #PCE is now out! On the surface everything was spot on with consensus, which shouldn't be surprise given that the #Fed told us their estimate of this key #inflation measure at #JacksonHole. But as always the devil is in the details... and @Bancreek is here to unmask

More on today's #PCE data. Here's a chart showing the item the provided the largest upward pressure to today's #inflation print. Portfolio management and investment advice services (i.e., the stock market). Check out this item's weight ⚖️(the blue line) within PCE over time.