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Stocks took a hit because job creation was UP, meaning inflation has likely not turned the corner and will continue to increase.
One is a matter of open jobs. That's what is down 1.1MM
The other is jobs added. That is what is up 256K for September as of this morning.
That's what the economy and labor market is.
The businesses say "we need 8 million more people for the economic activity we expect" - be that creating the goods, selling the goods, or serving the customer.
At base level, ~3 months ago they wanted to hire 9MM more people. Because things are slowing anyway, they now only "need" 8MM more people. They DID hire 256K more.
Now our tortured, abused, over-polluted Planet can breathe a little better now, a Recession on the way. Time for the Planet to rest and recuperate, if it's not too late.
We've been hearing predictions of bad job markets for over a year. It hasn't happened. It should. And it might help curb inflation.
Part of our problem is the demand for goods and services -- it is still pretty high -- even with high prices. If you arenb't sure about that --look at travel/entertainment etc.
Yes, the strong overheated economy of Biden, you can't blame the President for the falling stock market- blame the Federal Reserve for constantly trying to bring down inflation by increasing interest rates.
Yes, the strong overheated economy of Biden, you can't blame the President for the falling stock market- blame the Federal Reserve for constantly trying to bring down inflation by increasing interest rates.
You can blame the President and Congress for making inflation worse by passing the American Rescue Plan and the so-called Inflation Adjustment Act pumping trillions into the market while claiming that inflation was just transitory.
I'm guessing that Trump had many months of 256K. It just so happens that Dems clearly cheer the pandemic, because it got them what they want. Inane data points that made/make Trump look bad, and replaced as POTUS.
You can blame the President and Congress for making inflation worse by passing the American Rescue Plan and the so-called Inflation Adjustment Act pumping trillions into the market while claiming that inflation was just transitory.
Money supply increased 40% between 2015 and 2022. That led to asset inflation of all types, the main problem being EXCESSIVE new monetary supply that led to runaway inflation. The big issue is the Federal Reserve destabilized everything, you can't actually BLAME a specific president for the current problem we're in.
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