Bidenomics At Work

[Axtremus]

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. ...

[LuFins Dad]

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

[George K]

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

[LuFins Dad]

@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.

[George K]

[LuFins Dad]

He gets community noted every time he posts that

[Copper]

962 replies, most are mocking him

[Jolly]

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

[George K]

[Jolly]

Look at the IT jobs...

[George K]

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%.

[Axtremus]

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?

[Jolly]

Gig jobs do not normally come with benefits.

[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 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.

[Copper]

@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.

[Jolly]

@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.

[George K]

D2 is down here from across the CheddarCurtain. We decided to order in Italian beef sammiches from my favorite place, Buona Beef. We last did this about a year ago.

5 pieces of bread
Italian beef
Sweet Peppers
Hot Peppers
Potato salad.

$44.95

Today...

[LuFins Dad]

So it was 1¢ less?

[George K]

@LuFins-Dad said in Bidenomics At Work:

So it was 1¢ less?

Same price, one less bowl of peppers (I used to get sweet AND hot) one less piece of bread (I used to get five), and probably less italian beef.

Shrinkflation.