Economy Adds 254,000 Jobs In September, July-August Numbers Revised Up, Core Inflation At Prepandemic Levels At 2.3%. Thanks President Biden

[citygator]

Read the actual report:

Employment Situation Summary - 2024 Q03 Results

www.bls.gov

There are half a million more unemployed compared to a year ago (6.8 million).

The workforce participation rate is 62.7%, not changed from a year ago.

The number of part-time employed people is up half a million from a year ago. These are people that want a full time job.

There are 5.7 million people not in the workforce that want to be, but are not counted as part of the unemployed. This means it is not just 6.8 million unemployed, but 12.5 million.

69,000 of the new jobs were in food service. Constructions jobs +25,000. We know the vast majority of these are illegal aliens.

Government, state and fed, added 31,000 jobs.

Employment showed little change over the month in other major industries, including mining,
quarrying, and oil and gas extraction; manufacturing; wholesale trade; retail trade;
transportation and warehousing; information; financial activities; professional and business
services; and other services.

…..


So there we have it, more part time jobs given to illegals in food service industry and construction. No new manufacturing jobs.

• There are still more open jobs today than Trump had at his peak.
• There 9 million more employed people than Trump had at his peak

 

[theHawk]

• There are still more open jobs today than Trump had at his peak.
• There 9 million more employed people than Trump had at his peak

No one is buying into your bullshit numbers. Those unemployed were from COVID lockdowns, all demanded and enforced by Democrats.

 

[citygator]

No one is buying into your bullshit numbers. Those unemployed were from COVID lockdowns, all demanded and enforced by Democrats.

I almost feel sorry for you uninformed Trumpers. It's like you dont seek out information, you just make it up. I wouldnt make a claim I cant prove is true.

All Employees, Total Nonfarm

View the number of nonfarm employees in the U.S., who account for approximately 80 percent of the workers who contribute to GDP.

fred.stlouisfed.org

 

[Mashmont]

Employers added 254,000 jobs in September, blowing away forecasts and reversing a slowdown in hiring that had prompted the Federal Reserve to make a jumbo rate cut at its meeting last month.

Economists had forecast 140,000 new jobs, according to financial data provider FactSet.

The unemployment rate inched down to 4.1%, versus 4.2% in the prior month.

The employment report marks the second-to-last reading on the labor market before the Federal Reserve's November 7 rate decision meeting, when the central bank is expected to once again cut its benchmark rate. The Fed last month made a jumbo cut, its first rate reduction in four years, in the face of weakness in hiring and a cooling economy.

But September's surprisingly strong hiring suggests that the U.S. could be headed for a so-called "soft landing," with the Fed's prior rate hikes having helped to cool the economy while skirting a recession, experts said.

"Today's data hit a grand slam with payrolls coming in strong, positive revisions and unemployment falling," noted Lindsay Rosner, head of multisector investing within Goldman Sachs Asset Management, in an email. "The economy is heading into the post-season solidly.

The strong data could give the Fed more flexibility at its November rate cut meeting, giving the central bank the breathing room to either issue a smaller rate cut of 0.25 percentage points, versus its 0.5 percentage point cut last month, experts says.

Employers had added 159,000 jobs in August and 144,000 in July, according to the Labor Department's revised figures for the prior two months.

Wages growing faster than inflation​

Average hourly wages rose 4% last month on an annual basis, signaling that workers are keeping ahead of inflation, which stood at an annual pace of 2.5% in August.

Inflation likely dropped to 2.3% last month, according to economists polled by FactSet. The Consumer Price Index report for September will be released on October 10.

Restaurants and other food services businesses added 69,000 jobs last month, while health care companies added 45,000 jobs, the Bureau of Labor Statistics said.

Employers added 254,000 jobs in September, blowing away forecasts

Wall Street is watching the labor market for signs of slower hiring, which could influence the Federal Reserve's next rate decision.

www.cbsnews.com

So inflation is higher than at any point under DJT. And the extreme high prices are on top of that. Prices haven't dropped. Great job, Harris/Biden.

 

[Harpy Eagle]

So inflation is higher than at any point under DJT. And the extreme high prices are on top of that. Prices haven't dropped. Great job, Harris/Biden.

good thing wages have gone up then!

 

[sealybobo]

Beat you by 1 minute. But there will be very few reactions on this topic from America Last bad news crew.

The America Last crew will have to pin their hopes on the October report coming out right before the election. Thoughts and prayers for them today.

https://www.cnn.com/business/live-news/us-jobs-report-september-10-04-24/index.html

Jobs, Jobs Everywhere! 254K vs expected 141k, UE drops

I'm sure the America Last bad news crew on here won't start this thread, so I will. 141,000 jobs were expected. UE dropped from 4.2% to 4.1%. The America Last crew will have to pin their hopes on the October report coming out right before the election. Thoughts and prayers for them today...

www.usmessageboard.com

Thank God

Dockworkers' Union To Suspend Strike Until Jan. 15 To Allow Time To Negotiate New Contract​

 

[sealybobo]

So inflation is higher than at any point under DJT. And the extreme high prices are on top of that. Prices haven't dropped. Great job, Harris/Biden.

Most of us got raises to make up for inflation which is now going down. Go sit down idiot. As a Republican, you need to advocate for labor more. Stop sucking the CEO's dick.

 

[theHawk]

I almost feel sorry for you uninformed Trumpers. It's like you dont seek out information, you just make it up. I wouldnt make a claim I cant prove is true.

View attachment 1021788

All Employees, Total Nonfarm

View the number of nonfarm employees in the U.S., who account for approximately 80 percent of the workers who contribute to GDP.

fred.stlouisfed.org

Remind us again of how many of those added jobs are foreign born immigrants.

 

[luiza]

Another Fed disaster as the cut of 50 points now looks unnecessary .

Of course the figures are Fake , as we have come to expect , and made with obvious political bias .
They will be "adjusted" down as and when .

No wonder that Trump wants this private Federal Reserve club to be discontinued .
Just another arm of the Deep State gangster faction .
But , and as ever, the Gullibles will just assume it is a positive report .

Gullibles being Gullible

 

[sealybobo]

Remind us again of how many of those added jobs are foreign born immigrants.

We have 10 million unfilled jobs and immigrants coming into the country to fill those jobs. Duh.

Everyone is working. Anyone not working, doesn't want to. This reminds me of when you guys criticized Bill Clinton. Let me remind you you're just jealous of Biden.

"I think Bill Clinton was a great president,’" Trump said in the interview that was conducted shortly after the 2008 presidential election on NY1's "Inside City Hall" program.

"You know, you look at the country then. The economy was doing great. Look at what happened during the Clinton years. I mean we had no war, the economy was doing great, everybody was happy. A lot of people hated him because they were jealous as hell,’" Trump said.

 

[citygator]

Remind us again of how many of those added jobs are foreign born immigrants.

Compare Trump’s peak US born employed in 2019 to last week’s US born employees there are 5M more working Americans born in the US - despite an aging population and the early retirees during covid.

Jobs are everywhere.

Now what?

 

[pinqy]

The number of part-time employed people is up half a million from a year ago. These are people that want a full time job.

To clarify, these are “part-time for economic reasons:” those who could only find part time work and those who normally work full time but during the pay period covered in the survey business was slow and they worked fewer than 35 hours/week.

There are 5.7 million people not in the workforce that want to be, but are not counted as part of the unemployed. This means it is not just 6.8 million unemployed, but 12.5 million.

Of the (not seasonally adjusted) 5.6 million not in the labor force who want a job, 3.9 million either have not done anything at all in over a year to find a job or would not not have been able to work if they had been offered one (or both). Both those conditions are independent of the actual labor market and for analyzing the labor market, they are not really different from those who don’t want to work.

So now we have 1,676,000 who could have worked if offered a job, but did try in the last year but not the last month. So I’m the previous month (which is what we’re measuring) they chose not to participate in the labor market. Therefore we can’t really say they were part of the labor force for that month.