$FISV Fiserv Tape Reports
Per Ticker.id: $FISV Fiserv Tape Reports — 2 podcast mentions across 1 podcast (30 days), latest 2026-08-07 18:48 UTC.
Let's go talk about our main focus point on the day, and that is the soft labor reports. So let's review that and what that might mean for the broader Fed policy, the broader market. In the broader economy. So employers added jobs last month, uh, the slowest pace in over a year, only 23,000. Actually, it was down 23,000 jobs. Excuse me. The average now for the first 3, last 3 months is at 20,000 jobs a month. That sounds very low and it is, but private employers have added about 30,000 jobs in July. Much better than the headline decline. That means that a lot of the decline in jobs was from government cutting local workforce, education, etc., etc. That was, that was the big draw, drawdown. It was the local government education, uh, layoffs. Labor force participation slipped to 61.4. Fewer people entered or remained in the workforce. So the unemployment rate didn't really drop overall. Employers are still adding to construction jobs, healthcare, manufacturing, but leisure, hospitality, government, retail, trade, and financial activities were cut. So kind of a mixed bag there. But consumer spending, which is two-thirds of the economy, remains fairly robust. Johnson's Redbook weekly same-store sales was 8.7 year over year, 8.7% year over year increase ending August 1st. So that's pretty up-to-date data. And Fiserv's point-of-sale measures, that was up 7% year over year in July. Average hourly earnings up 3.2%. That is less than the CPI at 3.5%, so real incomes remain in negative territory, but that's not stopping people from spending, mainly because The wealth effect, asset prices are up. So despite hiring cooling a little bit, layoffs are still relatively low. The JOLTS data is okay. Job openings are okay. Quits are relatively steady and employers are hiring still selectively. And if you go look at the Challenger Gray report, there's only about 330— sorry, 33,000 planned job cuts. In July. That's down 27% from June and 46% from July of last year. And it announced hirings are increasing from a year earlier as well. So while the headline number looks bad, it doesn't— it isn't translating to real stress in the economy. As I said earlier, financials, and especially the banks, they continue to do fairly well. Financials are near the high of the, the year.
Justin Klein — InvestTalk · Soft Jobs Report and the Dollar's New Direction: What It Means for Investors · 2026-08-15