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For once we got a jobs report close to the consensus. 400K jobs were expected and we got 428K. Unemployment rate remained unchanged at 3.6%, which was also the consensus. It'll make the Biden haters happy that there were small downward revisions to Feb and March, and the LFPR ticked up, but Feb had already been revised up substantially from +678K to +750K as I reported last month, and the LFPR also frequently ticks up even during down trends.
And I should add that manufacturing posted the 2nd-largest gain of all sectors, adding 55K.
The U.S. added a solid 428,000 new jobs in April, but an acute labor shortage showed little improvement last month and threatens to add to the highest inflation in 40 years.
Economists polled by The Wall Street Journal had forecast 400,000 new jobs.
The unemployment rate was unchanged at 3.6%, the government said Friday, just a few ticks above a 54-year low.
The size of the labor force, meanwhile, shrank in April for the first time in seven months in a sign of how difficult it is for companies to find workers.
But Labor force participation still at a generational low...
No wonder people have time to stand on the street with home-made signs screaming at each other...
Why isn't the stock market echoing your jubilation? Because inflation is at record highs, we have continued product shortages, manufacturing jobs have plummeted, and work force participation is at lows not seen in 50 years.
It is certainly amusing to see you come, on cue, in attempts to tout all the "accomplishments" of the "Biden admin". Unfortunately, you can't pi*s down everyone's neck and tell them it's raining. Americans know the economy and this admin is in the dumpster.
Not only do we have an admin steering the nation to financial disaster, we have that same admin trying to force fascist measures on the public limiting free speech and using federal agencies like the SS to attack citizens.
Excluding leisure and hospitality, the economy has added back all the jobs lost at the beginning of the pandemic. Leisure and hospitality gained 78 thousand jobs in April. At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.20 million jobs, and are now down 1.44 million jobs since February 2020. So, leisure and hospitality has now added back about 83% all of the jobs lost in March and April 2020.
Construction employment increased 2 thousand and is now 4 thousand above the pre-pandemic level.
Manufacturing added 55 thousand jobs and is still 56 thousand below the pre-pandemic level.
Manufacturing is practically there. Construction is now just above pre-pandemic levels. It's down to just 2 sectors which are still laggards in getting back to pre-Covid.
It's really really sad the degree to which some people have to just flat-out lie in spite of facts staring them straight in the face. To wit, this is what I said in my OP:
Quote:
And I should add that manufacturing posted the 2nd-largest gain of all sectors, adding 55K.
Some people are so blinded by their ideology they will tell you something fell even though they just read that it rose.
But Labor force participation still at a generational low...
No wonder people have time to stand on the street with home-made signs screaming at each other...
Many of them are paid.
When the SC justices were doxxed, independent contractors can now be dispatched to protest.
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