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Angry Miao’s AM AFA R2 is part sculpture, part keyboard

Whether you love their keyboards or not, there can be no doubt that Angry Miao doesn’t do things halfway. The AM 65 Less is an exercise in building a…

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Whether you love their keyboards or not, there can be no doubt that Angry Miao doesn’t do things halfway. The AM 65 Less is an exercise in building a high-quality 65% keyboard that replaced the cursor keys with a touch panel. The AM Hatsu looks like it was imported from the future, while the Cyberboard would almost be a conventional keyboard if it wasn’t for its massive LED panel. With the AM AFA, the company introduced its version of an Alice-style ergonomic layout last year and now it’s back with a second run of this anime-inspired mechanical keyboard.

As always, it’s almost impossible to find fault with Angry Miao’s build quality. This is a solid board, weighing in at just under five pounds (or 2.26 kilos) and like the AM Hatsu, it’ll ship in Angry Miao’s signature suitcase-style case. The design, with the wide-open pattern at the front and back, makes it seem almost weightless and like it floats on your desktop, though — especially as you sit in front of it. It’s a smart design trick and exactly what you would expect from Angry Miao.

In addition to the sculpture-like metal frame, the actual keyboard actually consists of three interconnected parts that help to create this illusion. The two halves of the keyboard are actually separate pieces of hardware, with the control module (which now features a cover made from real glass compared to the plastic cover of the first version) in the middle. They are connected through very thin ribbon cables that you never really see in day-to-day use, making the design feel even more open.

The company says it takes roughly 10 hours of CNC processing and manual polishing to create the metal structure.

Image Credits: TechCrunch

Let’s just get the prices out of the way, because this is not a budget keyboard: The base kit without switches and keycaps will retail for $680 and the full bundle goes for $795. That’s a lot, but not out of the ordinary for a high-end mechanical keyboard (and the AM Hatsu cost is closer to $1,600). In the U.S., it’ll be available as a group buy through Space Cables, starting at 8 pm PT on August 31.

Image Credits: Angry Miao

For the most part, the AM AFA is a standard hot-swap Alice-style board, with the usual slightly curved and angled split layout and 68 keys. But this is Angry Miao, so you’ll quickly find some quirks as well. The distance between the two halves is significantly larger than that on a standard Alice layout, at 64.5 millimeters. To me, that makes for a more comfortable typing position.

The company also decided to put the right shift button to the right of the up arrow, for example. If you often use right shift, that’s going to take some getting used to. It made me realize I’m 100% a left shift user, so it never bothered me, but your mileage may vary. Another twist here is that the team put the page up, down and delete keys on the left side of the keyboard, inverting what most users would expect. Because that doesn’t affect any of my day-to-day typing, I didn’t mind that change and got used to it fairly quickly.

Image Credits: TechCrunch

With this second run of the keyboard, the company is introducing five new designs. The version the company sent me was the gold and green “Magic Forest” edition, inspired by Nintendo’s The Legend of Zelda: Tears of the Kingdom. There’s also a slightly tuned version of the first version of the AM AFA, the Macross-inspired VF-19, Pink Slayer, Cyber Cop and Unit-01. The Magic Forest colors are definitely striking, even as I admit that I personally wouldn’t necessarily have chosen it.

If you don’t quite like the choice of top plate, there’s another nice feature here: Those top plates are magnetic and very easy to replace. Angry Miao will include four alternative plates with the retail version.

Image Credits: Angry Miao

Like with the first version, Angry Miao uses its three-stage adjustable leaf spring mount to allow users to adjust the bounce of the keyboard. With the first edition, changing those springs was rather arduous. You had to remove a total of 24 screws and pretty much completely disassemble the entire keyboard. That didn’t exactly invite a lot of experimentation. With this new version, you only have to remove the magnetic top plate, remove eight screws and remove the ribbon cables from both sides and you have full access to the springs. That’s because now the PCB assembly sits inside what’s essentially a tray, making it very easy to take apart. Out of the box — or in this case, the suitcase — you get all of the tools you need to make these changes.

I think the spring leaves are one of Angry Miao’s best innovations. I prefer a slightly bouncy keyboard and the default option works quite well for me. Now that it’s easy enough to change them, though, I think most buyers will experiment with different options, and adding and removing springs (there are stainless steel and copper ones) actually makes an appreciable difference to how the board feels. Also included in the box are bottom and adjustment pads that slightly change the sound of the board but don’t make too much of a difference for the actual typing feel.

Image Credits: TechCrunch

Talking about typing feel, the AM AFA bundle comes with Angry Miao’s linear Icy Silver switches. I’ve never had any complaints about those in the company’s other keyboards and they remain a solid option. There’s no scratch and very little wobble. With an initial force of 45g, they sit right in my personal sweet spot. Since this is a hot-swap board, though, you can easily change them out for another type of switch — even a clicky one. I won’t judge you.

I don’t love the transparent Glacier Dark keycaps quite as much. They are frosted inside, which makes for a really nice light show from the PCB board’s LEDs, but they are a bit too glossy and smooth for my liking. Unlike many of the cheaper transparent keycaps you can find on Amazon and elsewhere, they do feel rather premium, though — and also enhance the keyboard’s overall sound. I would’ve preferred the excellent triple-shot keycaps Angry Miao used for the AM 65 Less, but that’s purely a personal preference.

Image Credits: Angry Miao

Personally, I really like the overall sound profile of the AM AFA. It’s not too loud, but you’ll know when you press a key. The sound resembles that of two pool balls colliding, which is close to my personal ideal. Using a different bottom foam and changing out the switches and keycaps allows you to tune this to your heart’s desire. Unlike with most keyboards, I was perfectly happy with the default here, though.

Also included in the bundle, by the way, are Angry Miao’s Hover wrist rests. I found the keyboard low enough to type on it without a wrist wrest, but the twist here is that we’re talking about two individual round wrist rests. In good Angry Miao tradition, they can flexibly take on any angle, with opposing magnets in the middle providing some additional cushioning and support. It’s a nifty trick, though I don’t think it’s a must-have. I found myself using a cheap wooden wrist rest I bought for a Keychron Q8 and while it wasn’t a perfect fit, it was a better solution for my typing style.

I always wish Angry Miao would support QMK/VIA for customizing its keyboards’ layout and lighting setup. The company’s own software is passable, though I always feel like it’s a bit of an afterthought. I don’t spend a lot of time modifying my layout, so it’s not a dealbreaker for me, but you’d be right to expect a bit more.

As with all of these high-end keyboards, whether they are worth their price for you is a personal decision. If I were in the market for a $750 board, though, I think the AM AFA is definitely worth a look. For most people, a Keychron Q8 or Q10 (either in their Pro or standard versions) are perfectly good Alice-style boards for far less (at $210 for a Q8 Pro, for example). The AM AFA is unabashedly a luxury board but it has the build quality and design to back that up.

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February Employment Situation

By Paul Gomme and Peter Rupert The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000…

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By Paul Gomme and Peter Rupert

The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000 average over the previous 12 months. The payroll data for January and December were revised down by a total of 167,000. The private sector added 223,000 new jobs, the largest gain since May of last year.

Temporary help services employment continues a steep decline after a sharp post-pandemic rise.

Average hours of work increased from 34.2 to 34.3. The increase, along with the 223,000 private employment increase led to a hefty increase in total hours of 5.6% at an annualized rate, also the largest increase since May of last year.

The establishment report, once again, beat “expectations;” the WSJ survey of economists was 198,000. Other than the downward revisions, mentioned above, another bit of negative news was a smallish increase in wage growth, from $34.52 to $34.57.

The household survey shows that the labor force increased 150,000, a drop in employment of 184,000 and an increase in the number of unemployed persons of 334,000. The labor force participation rate held steady at 62.5, the employment to population ratio decreased from 60.2 to 60.1 and the unemployment rate increased from 3.66 to 3.86. Remember that the unemployment rate is the number of unemployed relative to the labor force (the number employed plus the number unemployed). Consequently, the unemployment rate can go up if the number of unemployed rises holding fixed the labor force, or if the labor force shrinks holding the number unemployed unchanged. An increase in the unemployment rate is not necessarily a bad thing: it may reflect a strong labor market drawing “marginally attached” individuals from outside the labor force. Indeed, there was a 96,000 decline in those workers.

Earlier in the week, the BLS announced JOLTS (Job Openings and Labor Turnover Survey) data for January. There isn’t much to report here as the job openings changed little at 8.9 million, the number of hires and total separations were little changed at 5.7 million and 5.3 million, respectively.

As has been the case for the last couple of years, the number of job openings remains higher than the number of unemployed persons.

Also earlier in the week the BLS announced that productivity increased 3.2% in the 4th quarter with output rising 3.5% and hours of work rising 0.3%.

The bottom line is that the labor market continues its surprisingly (to some) strong performance, once again proving stronger than many had expected. This strength makes it difficult to justify any interest rate cuts soon, particularly given the recent inflation spike.

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Mortgage rates fall as labor market normalizes

Jobless claims show an expanding economy. We will only be in a recession once jobless claims exceed 323,000 on a four-week moving average.

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Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. Instead, the 10-year yield had a muted response after the headline number beat estimates, but we have negative job revisions from previous months. The Federal Reserve’s fear of wage growth spiraling out of control hasn’t materialized for over two years now and the unemployment rate ticked up to 3.9%. For now, we can say the labor market isn’t tight anymore, but it’s also not breaking.

The key labor data line in this expansion is the weekly jobless claims report. Jobless claims show an expanding economy that has not lost jobs yet. We will only be in a recession once jobless claims exceed 323,000 on a four-week moving average.

From the Fed: In the week ended March 2, initial claims for unemployment insurance benefits were flat, at 217,000. The four-week moving average declined slightly by 750, to 212,250


Below is an explanation of how we got here with the labor market, which all started during COVID-19.

1. I wrote the COVID-19 recovery model on April 7, 2020, and retired it on Dec. 9, 2020. By that time, the upfront recovery phase was done, and I needed to model out when we would get the jobs lost back.

2. Early in the labor market recovery, when we saw weaker job reports, I doubled and tripled down on my assertion that job openings would get to 10 million in this recovery. Job openings rose as high as to 12 million and are currently over 9 million. Even with the massive miss on a job report in May 2021, I didn’t waver.

Currently, the jobs openings, quit percentage and hires data are below pre-COVID-19 levels, which means the labor market isn’t as tight as it once was, and this is why the employment cost index has been slowing data to move along the quits percentage.  

2-US_Job_Quits_Rate-1-2

3. I wrote that we should get back all the jobs lost to COVID-19 by September of 2022. At the time this would be a speedy labor market recovery, and it happened on schedule, too

Total employment data

4. This is the key one for right now: If COVID-19 hadn’t happened, we would have between 157 million and 159 million jobs today, which would have been in line with the job growth rate in February 2020. Today, we are at 157,808,000. This is important because job growth should be cooling down now. We are more in line with where the labor market should be when averaging 140K-165K monthly. So for now, the fact that we aren’t trending between 140K-165K means we still have a bit more recovery kick left before we get down to those levels. 




From BLS: Total nonfarm payroll employment rose by 275,000 in February, and the unemployment rate increased to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in government, in food services and drinking places, in social assistance, and in transportation and warehousing.

Here are the jobs that were created and lost in the previous month:

IMG_5092

In this jobs report, the unemployment rate for education levels looks like this:

  • Less than a high school diploma: 6.1%
  • High school graduate and no college: 4.2%
  • Some college or associate degree: 3.1%
  • Bachelor’s degree or higher: 2.2%
IMG_5093_320f22

Today’s report has continued the trend of the labor data beating my expectations, only because I am looking for the jobs data to slow down to a level of 140K-165K, which hasn’t happened yet. I wouldn’t categorize the labor market as being tight anymore because of the quits ratio and the hires data in the job openings report. This also shows itself in the employment cost index as well. These are key data lines for the Fed and the reason we are going to see three rate cuts this year.

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Inside The Most Ridiculous Jobs Report In History: Record 1.2 Million Immigrant Jobs Added In One Month

Inside The Most Ridiculous Jobs Report In History: Record 1.2 Million Immigrant Jobs Added In One Month

Last month we though that the January…

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Inside The Most Ridiculous Jobs Report In History: Record 1.2 Million Immigrant Jobs Added In One Month

Last month we though that the January jobs report was the "most ridiculous in recent history" but, boy, were we wrong because this morning the Biden department of goalseeked propaganda (aka BLS) published the February jobs report, and holy crap was that something else. Even Goebbels would blush. 

What happened? Let's take a closer look.

On the surface, it was (almost) another blockbuster jobs report, certainly one which nobody expected, or rather just one bank out of 76 expected. Starting at the top, the BLS reported that in February the US unexpectedly added 275K jobs, with just one research analyst (from Dai-Ichi Research) expecting a higher number.

Some context: after last month's record 4-sigma beat, today's print was "only" 3 sigma higher than estimates. Needless to say, two multiple sigma beats in a row used to only happen in the USSR... and now in the US, apparently.

Before we go any further, a quick note on what last month we said was "the most ridiculous jobs report in recent history": it appears the BLS read our comments and decided to stop beclowing itself. It did that by slashing last month's ridiculous print by over a third, and revising what was originally reported as a massive 353K beat to just 229K,  a 124K revision, which was the biggest one-month negative revision in two years!

Of course, that does not mean that this month's jobs print won't be revised lower: it will be, and not just that month but every other month until the November election because that's the only tool left in the Biden admin's box: pretend the economic and jobs are strong, then revise them sharply lower the next month, something we pointed out first last summer and which has not failed to disappoint once.

To be fair, not every aspect of the jobs report was stellar (after all, the BLS had to give it some vague credibility). Take the unemployment rate, after flatlining between 3.4% and 3.8% for two years - and thus denying expectations from Sahm's Rule that a recession may have already started - in February the unemployment rate unexpectedly jumped to 3.9%, the highest since February 2022 (with Black unemployment spiking by 0.3% to 5.6%, an indicator which the Biden admin will quickly slam as widespread economic racism or something).

And then there were average hourly earnings, which after surging 0.6% MoM in January (since revised to 0.5%) and spooking markets that wage growth is so hot, the Fed will have no choice but to delay cuts, in February the number tumbled to just 0.1%, the lowest in two years...

... for one simple reason: last month's average wage surge had nothing to do with actual wages, and everything to do with the BLS estimate of hours worked (which is the denominator in the average wage calculation) which last month tumbled to just 34.1 (we were led to believe) the lowest since the covid pandemic...

... but has since been revised higher while the February print rose even more, to 34.3, hence why the latest average wage data was once again a product not of wages going up, but of how long Americans worked in any weekly period, in this case higher from 34.1 to 34.3, an increase which has a major impact on the average calculation.

While the above data points were examples of some latent weakness in the latest report, perhaps meant to give it a sheen of veracity, it was everything else in the report that was a problem starting with the BLS's latest choice of seasonal adjustments (after last month's wholesale revision), which have gone from merely laughable to full clownshow, as the following comparison between the monthly change in BLS and ADP payrolls shows. The trend is clear: the Biden admin numbers are now clearly rising even as the impartial ADP (which directly logs employment numbers at the company level and is far more accurate), shows an accelerating slowdown.

But it's more than just the Biden admin hanging its "success" on seasonal adjustments: when one digs deeper inside the jobs report, all sorts of ugly things emerge... such as the growing unprecedented divergence between the Establishment (payrolls) survey and much more accurate Household (actual employment) survey. To wit, while in January the BLS claims 275K payrolls were added, the Household survey found that the number of actually employed workers dropped for the third straight month (and 4 in the past 5), this time by 184K (from 161.152K to 160.968K).

This means that while the Payrolls series hits new all time highs every month since December 2020 (when according to the BLS the US had its last month of payrolls losses), the level of Employment has not budged in the past year. Worse, as shown in the chart below, such a gaping divergence has opened between the two series in the past 4 years, that the number of Employed workers would need to soar by 9 million (!) to catch up to what Payrolls claims is the employment situation.

There's more: shifting from a quantitative to a qualitative assessment, reveals just how ugly the composition of "new jobs" has been. Consider this: the BLS reports that in February 2024, the US had 132.9 million full-time jobs and 27.9 million part-time jobs. Well, that's great... until you look back one year and find that in February 2023 the US had 133.2 million full-time jobs, or more than it does one year later! And yes, all the job growth since then has been in part-time jobs, which have increased by 921K since February 2023 (from 27.020 million to 27.941 million).

Here is a summary of the labor composition in the past year: all the new jobs have been part-time jobs!

But wait there's even more, because now that the primary season is over and we enter the heart of election season and political talking points will be thrown around left and right, especially in the context of the immigration crisis created intentionally by the Biden administration which is hoping to import millions of new Democratic voters (maybe the US can hold the presidential election in Honduras or Guatemala, after all it is their citizens that will be illegally casting the key votes in November), what we find is that in February, the number of native-born workers tumbled again, sliding by a massive 560K to just 129.807 million. Add to this the December data, and we get a near-record 2.4 million plunge in native-born workers in just the past 3 months (only the covid crash was worse)!

The offset? A record 1.2 million foreign-born (read immigrants, both legal and illegal but mostly illegal) workers added in February!

Said otherwise, not only has all job creation in the past 6 years has been exclusively for foreign-born workers...

Source: St Louis Fed FRED Native Born and Foreign Born

... but there has been zero job-creation for native born workers since June 2018!

This is a huge issue - especially at a time of an illegal alien flood at the southwest border...

... and is about to become a huge political scandal, because once the inevitable recession finally hits, there will be millions of furious unemployed Americans demanding a more accurate explanation for what happened - i.e., the illegal immigration floodgates that were opened by the Biden admin.

Which is also why Biden's handlers will do everything in their power to insure there is no official recession before November... and why after the election is over, all economic hell will finally break loose. Until then, however, expect the jobs numbers to get even more ridiculous.

Tyler Durden Fri, 03/08/2024 - 13:30

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