Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Yeah...about that "positive" jobs report today that "beat expectations"...
Quote:
Something odd emerges when looking at the June payrolls report.
On one hand, the closely followed establishment survey came in red hot, and despite dropping modestly from May, it still printed some 100K above the median consensus expectation, at 372K vs the median consensus of 268K...
....a problem emerges when looking at the more detailed, if less closely watched, Household survey. Here, unlike the Establishment Survey, the June jobs change was actually a striking 315K drop, and after the April plunge of 353K, the June drop was actually the biggest going back to the March 2020 crash.
...since March, the Establishment Survey shows a gain of 1.124 million jobs while the Household Survey shows an employment loss of 347K!
...since March, the US has lost 70K full-time employees and 462K part-time employees.
...the number of multiple jobholders whose primary and secondary jobs are both full-time just hit a record high! Hardly the sign of a strong job market, one where people can afford to quit jobs at will.
We expect that "realization" to take place just after the midterms, because the last thing the Biden administration can afford is admit the labor market is crashing in addition to the continued surge in inflation.
And you’ve got the scumbag retail industry screwing people over til no end.
They give the illusion that they have “competitive” or “living” wages but they play games to save money and buck the system.
Yeah they’ll give you $20 an hour to stock shelves or flip burgers, but they won’t hire you at “full time” status. $20 an hour at 15 hours a week is a biblical screw job. Also, keeping you under full time hours they don’t have to give you benefits.
That’s why many people have to work multiple jobs.
And yeah the smoke and mirrors “jobs report” is another lying and deceptive head game by this useless administration.
And you’ve got the scumbag retail industry screwing people over til no end.
They give the illusion that they have “competitive” or “living” wages but they play games to save money and buck the system.
Yeah they’ll give you $20 an hour to stock shelves or flip burgers, but they won’t hire you at “full time” status. $20 an hour at 15 hours a week is a biblical screw job. Also, keeping you under full time hours they don’t have to give you benefits.
That’s why many people have to work multiple jobs.
And yeah the smoke and mirrors “jobs report” is another lying and deceptive head game by this useless administration.
Obamacare is the blame for the hours being trimmed. If I recall, if you give an employee 32 hrs/wk you have to provide them w/ healthcare insurance if you have over 50 emloyees, so instead, employers just made sure nobody got 30+ hours/week.
This is another reason why Obamacare must be repealed.
Great jobs report today. Rightie attempts to spin it otherwise are just desperation. The only bad news is that this stellar jobs report will encourage the Fed to raise rates too high, too fast furthering the chances of a recession. Righties should be happy about that prospect as they want to see the country in ruins so that they can impose authoritarian rule.
Great jobs report today. Rightie attempts to spin it otherwise are just desperation. The only bad news is that this stellar jobs report will encourage the Fed to raise rates too high, too fast furthering the chances of a recession. Righties should be happy about that prospect as they want to see the country in ruins so that they can impose authoritarian rule.
Great jobs report today. Rightie attempts to spin it otherwise are just desperation. The only bad news is that this stellar jobs report will encourage the Fed to raise rates too high, too fast furthering the chances of a recession. Righties should be happy about that prospect as they want to see the country in ruins so that they can impose authoritarian rule.
The FOMC meeting already alluded to a recession and that was last month.
Jobs report does not play into recession or not. GDP does.
Great jobs report today. Rightie attempts to spin it otherwise are just desperation. The only bad news is that this stellar jobs report will encourage the Fed to raise rates too high, too fast furthering the chances of a recession. Righties should be happy about that prospect as they want to see the country in ruins so that they can impose authoritarian rule.
Authoritarian rule like vaccine mandates, forced shutdowns and lockdowns that the Democrats were doing?
The economy and job markets are still incredibly imbalanced and trying to find equilibrium. If we do go into a recession, it might not act like others before.
Covid caused a lot of premature retirements, disconnected many people from their work, and also caused the government to give away a lot of money that people seemed content to live on (the two biggest culprits in my mind being the paid-out-monthly child tax credit and rent/student loan payment moratoriums. People have really dragged their feet going back to work, but I figured that eventually inflation would cause them to burn through savings and force them back and that may be what is happening here. I would also like to see stats on older workers. I suspect that some who decided to "retire early" because of Covid may find their resources drained by the stock market declines and be looking to go back to work for a few more years, at least part time.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
