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The New Coffee Room

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  3. Bidenomics At Work

Bidenomics At Work

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  • 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 Online
      CopperC Online
      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 Online
                      CopperC Online
                      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
                              • AxtremusA Offline
                                AxtremusA Offline
                                Axtremus
                                wrote on last edited by
                                #226

                                About doing "multiple gig jobs" vs. "one full time job," while "one full time job" is easier and more more predictable day-to-day, the "multiple gig jobs" model is arguably lower risk long term because you won't be completely out of work and out of income because an employer goes bust or terminate you all of a sudden.

                                Yeah, the Industrial Revolution somehow led to an abundance of jobs that are steady year round, it lifted the standard of living for the masses. It's good to have "one steady full time job", it's good to not have to worry about what to do with your next eight hours (because your employer planned it out for you). But why would one expect that model to last forever?

                                Aqua LetiferA 1 Reply Last reply
                                • JollyJ Offline
                                  JollyJ Offline
                                  Jolly
                                  wrote on last edited by
                                  #227

                                  Gig jobs do not normally come with benefits.

                                  “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

                                  AxtremusA 1 Reply Last reply
                                  • JollyJ Jolly

                                    Gig jobs do not normally come with benefits.

                                    AxtremusA Offline
                                    AxtremusA Offline
                                    Axtremus
                                    wrote on last edited by
                                    #228

                                    @Jolly said in Bidenomics At Work:

                                    Gig jobs do not normally come with benefits.

                                    That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                                    LuFins DadL CopperC 2 Replies Last reply
                                    • AxtremusA Axtremus

                                      @Jolly said in Bidenomics At Work:

                                      Gig jobs do not normally come with benefits.

                                      That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                                      LuFins DadL Offline
                                      LuFins DadL Offline
                                      LuFins Dad
                                      wrote on last edited by
                                      #229

                                      @Axtremus said in Bidenomics At Work:

                                      @Jolly said in Bidenomics At Work:

                                      Gig jobs do not normally come with benefits.

                                      That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                                      Great, I nominate you to be the single payer.

                                      The Brad

                                      JollyJ 1 Reply Last reply
                                      • AxtremusA Axtremus

                                        @Jolly said in Bidenomics At Work:

                                        Gig jobs do not normally come with benefits.

                                        That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                                        CopperC Online
                                        CopperC Online
                                        Copper
                                        wrote on last edited by
                                        #230

                                        @Axtremus said in Bidenomics At Work:

                                        single payer universal healthcare

                                        That is obamacare.

                                        Of course additional insurance options exist for those who want to pay. More than just the single payer is not forbidden.

                                        1 Reply Last reply
                                        • LuFins DadL LuFins Dad

                                          @Axtremus said in Bidenomics At Work:

                                          @Jolly said in Bidenomics At Work:

                                          Gig jobs do not normally come with benefits.

                                          That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                                          Great, I nominate you to be the single payer.

                                          JollyJ Offline
                                          JollyJ Offline
                                          Jolly
                                          wrote on last edited by
                                          #231

                                          @LuFins-Dad said in Bidenomics At Work:

                                          @Axtremus said in Bidenomics At Work:

                                          @Jolly said in Bidenomics At Work:

                                          Gig jobs do not normally come with benefits.

                                          That we need to fix with single payer universal healthcare. Single payer universal healthcare is the right solution regardless of whether the labor pool is mostly “full time” or mostly “gig” workers.

                                          Great, I nominate you to be the single payer.

                                          alt text

                                          “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
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