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

[para bellum]

Last month's was revised up. Someone didnt read the report.

150K/month is barely enough to keep up with people entering the workforce.

LFPR is still low.

A half-million more people unemployed than a year ago.

Shitty service sector jobs, health care, gov't, and social assistance.

The only productive sector that gained was construction, which always jumps in the building season.

We will revisit this when the 254K number is slashed in a few months...

 

[citygator]

150K/month is barely enough to keep up with people entering the workforce.

LFPR is still low.

A half-million more people unemployed than a year ago.

Shitty service sector jobs, health care, gov't, and social assistance.

The only productive sector that gained was construction, which always jumps in the building season.

We will revisit this when the 254K number is slashed in a few months...

Moving goalposts. Stop. The numbers exceeded expectations AND the prior months were revised UP. But of course you cant see passed your own idiocy.

 

[para bellum]

Moving goalposts. Stop. The numbers exceeded expectations AND the prior months were revised UP. But of course you cant see passed your own idiocy.

The prior quarter was revised upwards by 10% of what the previous quarter was revised DOWNWARD. 79K in July doesn't even come close to meeting the needs of new entrants in the workforce.

150K/month is FLAT. It does not move the unemployment needle one bit.

And this is almost certainly a bogus estimate designed to give some positive economic news for the dems just before an election.

The only good thing about those 69K minimum-wage restaurant jobs is those poor bastards will get a shift meal- they sure as hell can't afford to buy food at the grocery store. Thanks Joe!

 

[citygator]

The prior quarter was revised upwards by 10% of what the previous quarter was revised DOWNWARD. 79K in July doesn't even come close to meeting the needs of new entrants in the workforce.

150K/month is FLAT. It does not move the unemployment needle one bit.

And this is almost certainly a bogus estimate designed to give some positive economic news for the dems just before an election.

The only good thing about those 69K minimum-wage restaurant jobs is those poor bastards will get a shift meal- they sure as hell can't afford to buy food at the grocery store. Thanks Joe!

Para.... if you arent making money in this economy you are a fool. There are record job openings, record corporate profits, record stock growth, record home equity. If you havent saved money over the last 3 years not only is that on you but that makes you an outlier as the Average American are awash in wages and equity.

 

[JohnDB]

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.

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

Because we flat out do not believe this report.
Nearly EVERY market analyst and Economist who watches these numbers has said "They are lying". Of course there are a few "Blue Dogs" saying how wonderful the economy is....but most that are actually reputable says they are lying.

 

[para bellum]

Para.... if you arent making money in this economy you are a fool. There are record job openings, record corporate profits, record stock growth, record home equity. If you havent saved money over the last 3 years not only is that on you but that makes you an outlier as the Average American are awash in wages and equity.

You continue to prove yourself completely out of touch with what average Americans are living with.

Real household wealth under Biden is FLAT- 0.7% in the first 3 years of Biden's administration compared to 16% under Trump's.

MSN

There are more people are under financial stress today than 3 years ago.

https://www.federalreserve.gov/publications/files/2023-report-economic-well-being-us-households-202405.pdf

Overall Financial Well-Being
• The 72 percent of adults doing at least okay financially was similar to the 73 percent in 2022 yet remained well below the recent high of 78 percent in 2021.
• Financial well-being was generally unchanged from 2022 for most population segments. One notable exception was parents living with their children under age 18, where the share doing at least okay financially fell 5 percentage points from 2022.
• Inflation continued to be the top financial concern, despite the inflation rate falling over the prior year.
• Sixty-five percent of adults said that changes in the prices they paid compared with the prior year had made their financial situation worse, including 19 percent who said price changes had made their financial situation much worse. In contrast, 4 percent of adults said that price changes compared with last year had made their financial situation better, while 31 percent said price changes had little to no effect on their financial situation.