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Not a good number, but oddly it will be celebrated as "awesome".
The 12 month average is 203,000, which is well below the average from past years.
Hmmm, just curious, did you come out and praise the numbers in the previous months, or did you just wait for an opportunity to poo-poo on the numbers when they fell lower than the norm? Something tells me I wouldn't find any threads praising the job numbers at anytime during the current administration. Actually, I doubt I'd find any praise for anything done by the current administration. And frankly, since the unemployment rate is still sitting at less than 4% and new claims for unemployment have remained pretty much the same, I'd say things are still going pretty good.
The bad job report is a blessing in disguise as it might hold down interest rates. The Trump admin is facing a trillion dollar deficit this year with revenues falling well below what was projected by the tax cut analysts. Higher interest rates along with onerous tariff taxes are about the last thing the beleaguered working people of America need.
Hmmm, just curious, did you come out and praise the numbers in the previous months, or did you just wait for an opportunity to poo-poo on the numbers when they fell lower than the norm? Something tells me I wouldn't find any threads praising the job numbers at anytime during the current administration. Actually, I doubt I'd find any praise for anything done by the current administration. And frankly, since the unemployment rate is still sitting at less than 4% and new claims for unemployment have remained pretty much the same, I'd say things are still going pretty good.
The bad job report is a blessing in disguise as it might hold down interest rates.
It wasn't a bad job report. 539,000 new jobs were created.
Quote:
Originally Posted by EuropeanLoyalist
Although the overall gain for July came in slightly below expectations, figures for payroll increases in May and June were revised substantially higher. The Labor Department said the economy added 268,000 jobs in May, up from an initial estimate of 244,000, while the June gain was revised upward to 248,000 from 213,000.
Those are non-fact-based seasonally adjusted numbers. There is no rhyme or reason to the statistically seasonally adjusted numbers.
May Seasonally Adjusted: 268,000
May Actual Physical Job Gains: 661,000
June Seasonally Adjusted: 248,000
June Actual Physical Job Gains: 456,000
July Seasonally Adjusted: 157,000
July Actual Physical Job Gains: 539,000
In October 2017, 227,000 workers physically lost their jobs and then in November 43,000 workers physically lost their jobs and then December was a loss of 578,000 jobs, but in every case BLS reported seasonally "job gains" of 261,000 and 228,000 and 148,000, respectively.
Even in the middle of the "Great Recession" when 981,000 Americans physically lost their job in August 2009, the government claimed only 213,000 lost their jobs using seasonally adjust voodoo magic.
Quote:
Originally Posted by BajanYankee
You do realize that the number of working Americans increases Y-O-Y, right? I'll let you on a little secret, but America's population has grown every decade since its founding in 1776.
Not when there is a recession.
Is there a point you're trying to make, or are you simply unable to handle reality?
Quote:
Originally Posted by James Bond 007
I don't know where you got that. The unadjusted number of payroll jobs in June was 150,057,000 while the same for July was 148,901,000, a loss of 1,156,000.
Copy and paste the series numbers into the box, then click "Next" under the box, then scroll down and click "Retrieve Data."
That's the real hard physical data, not the whimsical and arbitrary "seasonally adjusted" which is designed to please the anal retentive who get upset if their graphs don't look pretty.
Quote:
Originally Posted by Freak80
How many of those jobs pay enough to afford a local apartment with a little left over for food and electricity?
Who cares? What idiot would take a job that doesn't cover their basic living expenses, and what idiot is so stupid they can't relocate to an area with a lower Cost-of-Living?
BLS -- an agency of the Department of Labor -- is the authority on all things employment-related, not the Federal Reserve...
The St Louis Fed keeps a database of ALL federal government economic (and other) data. If you are unaware of the existence of FRED, you should start educating yourself. The numbers you cited are the exact same ones available on FRED.
And you STILL cited the household survey while belittling the results of the payroll establishment survey. They are two different things which aren't really comparable.
Quote:
That's the real hard physical data, not the whimsical and arbitrary "seasonally adjusted" which is designed to please the anal retentive who get upset if their graphs don't look pretty.
As has been pointed out to you before, that data you think is "real hard physical data" is actually just as massaged as the seasonally adjusted data. ALL federal government economic data (except unemployment insurance claims) are based on sample surveys with margins of error. You act as if you're citing a 100% sample but what you're really citing is about a 3% sample extrapolated over the entire economy and over the entire population.
The bad job report is a blessing in disguise as it might hold down interest rates. The Trump admin is facing a trillion dollar deficit this year with revenues falling well below what was projected by the tax cut analysts. Higher interest rates along with onerous tariff taxes are about the last thing the beleaguered working people of America need.
There will likely be two more interest rate increases this year, mortgage rates are up. Government interest debt will rise with the interest rates.
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