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The New Coffee Room

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  3. Bidenomics At Work

Bidenomics At Work

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  • JollyJ Offline
    JollyJ Offline
    Jolly
    wrote on last edited by
    #206

    Yeah, but I want the revision of the revision of the March numbers before passing judgement.

    “Cry havoc and let slip the DOGE of war!”

    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

    1 Reply Last reply
    • George KG Offline
      George KG Offline
      George K
      wrote on last edited by
      #207

      https://committeetounleashprosperity.com/hotlines/part-time-nation/


      he new job numbers for March were strong with 300,000 jobs added in the establishment survey and 500,000 in the household survey. But those positive headline numbers camouflage a very disturbing trend in the labor market. Almost all of the new jobs on the net are part-timers. That means a part-time paycheck.

      Stock market advisor Stephanie Pomboy of MacroMavens has analyzed the number and reports that in the last four months, the labor market has LOST 1.8 million full-time jobs.

      Here is a handy summary for the past year:

      Overall payrolls up 1.9%
      Part-time jobs up 7.5%
      Full-time jobs down -1.35%
      How many of the 300,000 jobs are double counting people holding TWO jobs?

      image.png

      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

      1 Reply Last reply
      • AxtremusA Axtremus

        Another strong, very strong, job report for March 2024:

        https://www.cnn.com/2024/04/05/economy/us-jobs-report-march-final/index.html

        Employers added 303,000 jobs in March, the Bureau of Labor Statistics reported. The unemployment rate fell to 3.8% from 3.9% the month before.
        ...
        Annual wage gains slowed to 4.1% from 4.3%, a trajectory likely welcomed by the Federal Reserve in its efforts to tame inflation but yet a still-strong rate to help Americans recapture earnings that were decimated by the pandemic and high inflation.
        ...
        Last month’s job growth was driven by industries such as health care (+72,300 jobs); government (+71,000 jobs); leisure and hospitality (+49,000 jobs); and construction (+39,000 jobs).
        .
        The current US job market is also one of the strongest, historically: The economy has added jobs for 39 consecutive months, marking the fifth-longest period of job expansion on record, BLS data shows. The unemployment rate has been below 4% for 26 months in a row, the longest streak since the late 1960s.

        Chart from the Washington Post:
        Screenshot 2024-04-05 at 11.39.25 AM.png
        Source: https://www.washingtonpost.com/business/2024/04/05/jobs-march-unemployment-rate/

        JollyJ Offline
        JollyJ Offline
        Jolly
        wrote on last edited by
        #208

        @Axtremus said in Bidenomics At Work:

        Another strong, very strong, job report for March 2024:

        https://www.cnn.com/2024/04/05/economy/us-jobs-report-march-final/index.html

        Employers added 303,000 jobs in March, the Bureau of Labor Statistics reported. The unemployment rate fell to 3.8% from 3.9% the month before.
        ...
        Annual wage gains slowed to 4.1% from 4.3%, a trajectory likely welcomed by the Federal Reserve in its efforts to tame inflation but yet a still-strong rate to help Americans recapture earnings that were decimated by the pandemic and high inflation.
        ...
        Last month’s job growth was driven by industries such as health care (+72,300 jobs); government (+71,000 jobs); leisure and hospitality (+49,000 jobs); and construction (+39,000 jobs).
        .
        The current US job market is also one of the strongest, historically: The economy has added jobs for 39 consecutive months, marking the fifth-longest period of job expansion on record, BLS data shows. The unemployment rate has been below 4% for 26 months in a row, the longest streak since the late 1960s.

        Chart from the Washington Post:
        Screenshot 2024-04-05 at 11.39.25 AM.png
        Source: https://www.washingtonpost.com/business/2024/04/05/jobs-march-unemployment-rate/

        Kinda looks a lot worse once the numbers get explained, doesn't it? And again, these are not the final numbers...

        “Cry havoc and let slip the DOGE of war!”

        Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

        1 Reply Last reply
        • taiwan_girlT Offline
          taiwan_girlT Offline
          taiwan_girl
          wrote on last edited by
          #209

          But I thought that there was a wanting to decrease the jobs for a little bit to help "cool" inflation?

          JollyJ 1 Reply Last reply
          • taiwan_girlT taiwan_girl

            But I thought that there was a wanting to decrease the jobs for a little bit to help "cool" inflation?

            JollyJ Offline
            JollyJ Offline
            Jolly
            wrote on last edited by
            #210

            @taiwan_girl said in Bidenomics At Work:

            But I thought that there was a wanting to decrease the jobs for a little bit to help "cool" inflation?

            I think the inflation monster is going to be hard to tame, with all the dollars dumped into the money supply.

            “Cry havoc and let slip the DOGE of war!”

            Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

            1 Reply Last reply
            • AxtremusA Offline
              AxtremusA Offline
              Axtremus
              wrote on last edited by
              #211

              https://www.cnn.com/2024/04/14/economy/working-past-retirement-age/index.html

              Americans over 75 are the fastest-growing age group in the workforce, more than quadrupling in size since 1964, according to the Pew Research Center. Forecasters expect that cohort of older, working Americans to double over the next decade.

              Pew Research: https://www.pewresearch.org/social-trends/2023/12/14/the-growth-of-the-older-workforce/

              Numbering roughly 11 million today, the older workforce has nearly quadrupled in size since the mid-1980s. The increase is driven in part by the growth of the 65-and-older population. The bulk of the Baby Boom generation has now reached that threshold.
              ...
              The share of older adults holding a job today is much greater than in the mid-1980s. Some 19% of adults ages 65 and older are employed today. In 1987, only 11% of older adults were working. Today’s share is similar to that of the early 1960s, when 18% of older Americans worked.

              1 Reply Last reply
              • AxtremusA Offline
                AxtremusA Offline
                Axtremus
                wrote on last edited by
                #212

                https://finance.yahoo.com/news/april-jobs-report-shows-hiring-wage-growth-slow-as-unemployment-unexpectedly-jumps-123130544.html

                The US labor market cooled notably last month as both hiring and wage growth slowed more than economists had expected in April.
                .
                The US economy added 175,000 new jobs and the unemployment rate rose to 3.9% last month, new data from the Bureau of Labor Statistics showed Friday. Wall Street economists had expected nonfarm payrolls to rise by 240,000 and the unemployment rate to remain at 3.8%, according to Bloomberg data.
                .
                Wages also rose less than forecast, with average hourly earnings rising 0.2% over last month and 3.9% over the last year. Economists had expected to see a monthly jump of 0.3% in April and a 4% rise over last year.
                .
                Friday's report also showed February's job growth was revised down — to a gain of 236,000 nonfarm payroll jobs from the 270,000 previously reported — while March's report was revised up to job gains of 315,000 from the 303,000 initially reported.
                ...

                In reaction to the weaker-than-expected jobs report, the stock market went UP in anticipation of the Federal Reserve Board cutting interest rates. It's as if Wall Street really doesn't like a strong economy.

                CopperC taiwan_girlT 2 Replies Last reply
                • AxtremusA Axtremus

                  https://finance.yahoo.com/news/april-jobs-report-shows-hiring-wage-growth-slow-as-unemployment-unexpectedly-jumps-123130544.html

                  The US labor market cooled notably last month as both hiring and wage growth slowed more than economists had expected in April.
                  .
                  The US economy added 175,000 new jobs and the unemployment rate rose to 3.9% last month, new data from the Bureau of Labor Statistics showed Friday. Wall Street economists had expected nonfarm payrolls to rise by 240,000 and the unemployment rate to remain at 3.8%, according to Bloomberg data.
                  .
                  Wages also rose less than forecast, with average hourly earnings rising 0.2% over last month and 3.9% over the last year. Economists had expected to see a monthly jump of 0.3% in April and a 4% rise over last year.
                  .
                  Friday's report also showed February's job growth was revised down — to a gain of 236,000 nonfarm payroll jobs from the 270,000 previously reported — while March's report was revised up to job gains of 315,000 from the 303,000 initially reported.
                  ...

                  In reaction to the weaker-than-expected jobs report, the stock market went UP in anticipation of the Federal Reserve Board cutting interest rates. It's as if Wall Street really doesn't like a strong economy.

                  CopperC Offline
                  CopperC Offline
                  Copper
                  wrote on last edited by
                  #213

                  @Axtremus said in Bidenomics At Work:

                  It's as if Wall Street really doesn't like a strong economy.

                  00ae50af-a6fc-4c0f-b1ce-9a6d778fe129-image.png

                  1 Reply Last reply
                  • AxtremusA Axtremus

                    https://finance.yahoo.com/news/april-jobs-report-shows-hiring-wage-growth-slow-as-unemployment-unexpectedly-jumps-123130544.html

                    The US labor market cooled notably last month as both hiring and wage growth slowed more than economists had expected in April.
                    .
                    The US economy added 175,000 new jobs and the unemployment rate rose to 3.9% last month, new data from the Bureau of Labor Statistics showed Friday. Wall Street economists had expected nonfarm payrolls to rise by 240,000 and the unemployment rate to remain at 3.8%, according to Bloomberg data.
                    .
                    Wages also rose less than forecast, with average hourly earnings rising 0.2% over last month and 3.9% over the last year. Economists had expected to see a monthly jump of 0.3% in April and a 4% rise over last year.
                    .
                    Friday's report also showed February's job growth was revised down — to a gain of 236,000 nonfarm payroll jobs from the 270,000 previously reported — while March's report was revised up to job gains of 315,000 from the 303,000 initially reported.
                    ...

                    In reaction to the weaker-than-expected jobs report, the stock market went UP in anticipation of the Federal Reserve Board cutting interest rates. It's as if Wall Street really doesn't like a strong economy.

                    taiwan_girlT Offline
                    taiwan_girlT Offline
                    taiwan_girl
                    wrote on last edited by
                    #214

                    @Axtremus said in Bidenomics At Work:

                    https://finance.yahoo.com/news/april-jobs-report-shows-hiring-wage-growth-slow-as-unemployment-unexpectedly-jumps-123130544.html

                    The US labor market cooled notably last month as both hiring and wage growth slowed more than economists had expected in April.
                    .
                    The US economy added 175,000 new jobs and the unemployment rate rose to 3.9% last month, new data from the Bureau of Labor Statistics showed Friday. Wall Street economists had expected nonfarm payrolls to rise by 240,000 and the unemployment rate to remain at 3.8%, according to Bloomberg data.
                    .
                    Wages also rose less than forecast, with average hourly earnings rising 0.2% over last month and 3.9% over the last year. Economists had expected to see a monthly jump of 0.3% in April and a 4% rise over last year.
                    .
                    Friday's report also showed February's job growth was revised down — to a gain of 236,000 nonfarm payroll jobs from the 270,000 previously reported — while March's report was revised up to job gains of 315,000 from the 303,000 initially reported.
                    ...

                    In reaction to the weaker-than-expected jobs report, the stock market went UP in anticipation of the Federal Reserve Board cutting interest rates. It's as if Wall Street really doesn't like a strong economy.

                    My understanding on economy (which I admit is minimum), is that the poor jobs reports indirectly says that inflation will be slowing (less salary pressure increase, etc.). Which, in the long term, is what is wanted. @jon-nyc is probably better to respond.

                    1 Reply Last reply
                    • AxtremusA Offline
                      AxtremusA Offline
                      Axtremus
                      wrote on last edited by
                      #215

                      https://www.bls.gov/news.release/empsit.nr0.htm

                      Total nonfarm payroll employment increased by 272,000 in May, and the unemployment rate changed
                      little at 4.0 percent ...

                      In May, average hourly earnings for all employees on private nonfarm payrolls increased by 14 cents, or 0.4 percent, to $34.91. Over the past 12 months, average hourly earnings have increased by 4.1 percent. In May, average hourly earnings of private-sector production and nonsupervisory employees
                      increased by 14 cents, or 0.5 percent, to $29.99. ...

                      1 Reply Last reply
                      • LuFins DadL Offline
                        LuFins DadL Offline
                        LuFins Dad
                        wrote on last edited by
                        #216

                        LOL, @George-K , can you find that post about the adjustments that just happened?

                        The Brad

                        George KG 1 Reply Last reply
                        • LuFins DadL LuFins Dad

                          LOL, @George-K , can you find that post about the adjustments that just happened?

                          George KG Offline
                          George KG Offline
                          George K
                          wrote on last edited by
                          #217

                          @LuFins-Dad zerohedge usually comes out with that info in a timely basis. But not yet today.

                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                          LuFins DadL 1 Reply Last reply
                          • George KG George K

                            @LuFins-Dad zerohedge usually comes out with that info in a timely basis. But not yet today.

                            LuFins DadL Offline
                            LuFins DadL Offline
                            LuFins Dad
                            wrote on last edited by
                            #218

                            @George-K said in Bidenomics At Work:

                            @LuFins-Dad zerohedge usually comes out with that info in a timely basis. But not yet today.

                            I thought I saw something that showed they just had a MASSIVE revision for December and March.

                            The Brad

                            1 Reply Last reply
                            • George KG Offline
                              George KG Offline
                              George K
                              wrote on last edited by
                              #219

                              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                              1 Reply Last reply
                              • LuFins DadL Offline
                                LuFins DadL Offline
                                LuFins Dad
                                wrote on last edited by
                                #220

                                He gets community noted every time he posts that

                                The Brad

                                1 Reply Last reply
                                • CopperC Offline
                                  CopperC Offline
                                  Copper
                                  wrote on last edited by
                                  #221

                                  962 replies, most are mocking him

                                  1 Reply Last reply
                                  • JollyJ Offline
                                    JollyJ Offline
                                    Jolly
                                    wrote on last edited by
                                    #222

                                    If you tell a lie loud enough and long enough...

                                    “Cry havoc and let slip the DOGE of war!”

                                    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                    1 Reply Last reply
                                    • George KG Offline
                                      George KG Offline
                                      George K
                                      wrote on last edited by George K
                                      #223

                                      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                      1 Reply Last reply
                                      • JollyJ Offline
                                        JollyJ Offline
                                        Jolly
                                        wrote on last edited by
                                        #224

                                        Look at the IT jobs...

                                        “Cry havoc and let slip the DOGE of war!”

                                        Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                        1 Reply Last reply
                                        • George KG Offline
                                          George KG Offline
                                          George K
                                          wrote on last edited by
                                          #225

                                          Black and Hispanic unemployment is at a record low

                                          There have never been more Black and Hispanic Americans in the workforce, Friday’s Labor Department job report showed.

                                          The jobless rate for Hispanics hit a record low of 3.9% in September, while African Americans maintained its lowest rate ever, 5.5%.

                                          Oh, wait. That was from 2019. My bad...

                                          Jobless rates rise in May for all racial groups except white Americans

                                          White unemployment remained at 3.5% last month, making the demographic group the only one that didn’t experience a rise in jobless rates from April to May. It also went against the overall unemployment rate, which edged higher to 4% from 3.9%.

                                          Meanwhile, the jobless rate for Black Americans rose to 6.1% from 5.6%. For Asian and Hispanic workers, respectively, it rose to 3.1% from 2.8%, and to 5% from 4.8%.

                                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                          1 Reply Last reply
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