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Biden’s massive stimulus created job growth, but also sparked the highest inflation in four decades. Price hikes are eating up everyone’s paychecks.
Now Joe has to depend on the fed to get it under control by hiking interest rates.
People see price hikes, rent hikes, real estate out of control hikes, future interest rate hikes that will stifle young people’s ability to purchase homes, gas hikes. Fed is treading in dangerous territory trying to fix Biden’s massive spending, and easily could trigger a downward spiral.
In general people don’t get any benefit from Biden and still feel misery. He gets no credit understandably.
That is a Trump initiated policy that Biden ended even though many of his supporters were asking for another round.
Not accurate, Trump's stimulus bill was bipartsian, the GOP did not control congress. Trump wanted more of the money to go directly to taxpayers and the Democrats forced the vast majority to be allocated to special interests and forgivable business loans
lol for what? If Brandon had his way he would have another 5 rounds of trillion dollar welfare so people could stay home.
I think you mean, "Thank you Joe Manchin"
Do you just look for bad news.
Can't find anything with the US economy so bring up Canada.
So off topic.
And is a bad economic forecast good for the united states? Think FX. Think import exports.
GDP +5.7% in 2021 +467,000 jobs in January 2021 WoW!
Trump never had numbers this good
Thank You Joe!
Actually the entire second half of 2020 were "better" in terms of raw numbers but that and the numbers in 2021 were the bounce back after huge decreases due to Covid in early 2020.
So I leave everyone to argue in partisan-land how one guys numbers are better than the others and aren't covid bounce back etc. etc. etc.
It's in the OP's initial post and link if you want to look.
Here Is What's Behind Today's Stunning Payrolls Beat
Quote:
First, looking at just the December to January change we find that while the seasonally adjusted number rose by an impressive 467K, the unadjusted number collapsed, tumbling from 150.349 million to 147.525 million, a 2.8 million drop (as it tends to do every time the year shifts from December to January) meaning that the entire delta in the January number - somewhere in the 3+ million range - is due to arbitrary adjustments overlaid on top of the data.
The plot thickens, and indeed one thing that analysts apparently forgot when they were submitting their forecasts for January's payrolls is that this is the month when the BLS adjusts data for the past 10 years as part of its population estimates revisions, which impact both the Household and more important, Establishment, surveys.
In summary, what these revisions did was to revise 2017 job growth lower by by -61,000, 2018 lower by -26,000, 2019 revised lower by -43,000, while 2020 was revised higher by 124,000, and 2021 was also revised up 217,000, or in total a 211,000 upward revision over 5 years or 3,500 jobs per month.
Focusing on just 2021, we find something curious: the stunning print from the summer which saw June and July print at or over 1 million, have been slashed by almost 50%, at the expense of most recent months such that October added 29K, November added 398K and December added 311K jobs to what was the original print only as a result of seasonal adjustments. Said otherwise, March-July was revised lower by -1,061,000 while Aug-Dec was revised up by +817,000.
At this point the answer what is behind the massive January beat should be becoming clear: how did a -2.8 million actual drop in jobs translate into an adjusted 467K? If you said seasonal, covid and population control adjustments, you are right. And to be sure, this is something both we and others flagged, when we lamented that month after month, the BLS appeared to be using stale seasonal adjustments.
But digging deeper shows that this was not just an ordinary seasonal adjustment.
As SouthBay Research notes in his NFP postmortem, "there has never been a January Seasonal Adjustment of this magnitude"
If only normalizes the January seasonal adjustment, the payrolls number is some 309K lower, or ends up being 166K, right on top of expectations.
Biden voters across the country have burned through their government handouts while sitting at home being worthless and some of them are finally starting to feel pain as the cost of living in this country skyrockets.
It’s nice to know the businesses that I rely upon for goods and services will finally be functioning normally again as these parasites are forced to choose between homelessness and going to work.
Oops, you just popped James Bond's daily Brandon balloon.
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