Jobs. Jobs everywhere! - Jan Jobs increases by 350k due to Bidenomics

[citygator]

So you think a higher wage with higher prices helps people? How exactly? If I make a hundred dollars more a week but my costs go up a hundred dollars am I better off? If I'm a fast food employee who's pay was raised to $20 an hour am I better off when the fast food chain replaces me with a machine to take your order? With all due respect, Gator...if you're the kind of Economist that Florida is turning out...I don't think I'd hire a "Gator"!

I think when wages and prices both move up together as we’ve seen people are about the same. Buying power is actually up slightly. Would you cut your income by 17% to get 17% lower prices? I wouldn’t.

 

[KissMy]

If I'm a fast food employee who's pay was raised to $20 an hour am I better off when the fast food chain replaces me with a machine to take your order? With all due respect, Gator...if you're the kind of Economist that Florida is turning out...I don't think I'd hire a "Gator"!

You have been wrong for 122 years and counting. The first automat in the United States began service on June 12, 1902 & failed, because people prefer people to wait on them & will pay & tip them well for their efforts.

the US economy is 70% consumption, so higher income to the masses = more economic growth

 

[Oldestyle]

My accounts are double what they were in 2019. They are actually more than double since I’ve also been putting in. Costs haven’t doubled. They’ve gone up 17.4% since and so has wages. People have more savings and similar buying power. In fact those at the bottom are doing better even though they still have no real savings since America benefits the wealthy.

Your savings accounts have doubled? Are you smoking crack?
Wages have NOT gone up 17.4% since 2019! Neither have costs! You're pulling numbers out of your ass at this point, Gator!
People at the bottom are NOT doing better! Inflation is actually worse than what is being reported because the reported rate doesn't include gas, food or rent...all of which have gone up substantially! If you've got a savings account that maybe is paying a couple of percent you're losing money to inflation. Inflation has ALWAYS hit those at the bottom harder than those at the top!

 

[citygator]

Your savings accounts have doubled? Are you smoking crack?
Wages have NOT gone up 17.4% since 2019! Neither have costs! You're pulling numbers out of your ass at this point, Gator!
People at the bottom are NOT doing better! Inflation is actually worse than what is being reported because the reported rate doesn't include gas, food or rent...all of which have gone up substantially! If you've got a savings account that maybe is paying a couple of percent you're losing money to inflation. Inflation has ALWAYS hit those at the bottom harder than those at the top!

Wages are actually up 22% since 2019. Gone from $917 to $1121. Everything else I typed is correct too. How do you dispute this? Curious, when you replied I was wrong what data set did you use to determine that? Did it just come out of your ass or did you do even 10 seconds of research?

 

[Oldestyle]

You have been wrong for 122 years and counting. The first automat in the United States began service on June 12, 1902 & failed, because people prefer people to wait on them & will pay & tip them well for their efforts.

the US economy is 70% consumption, so higher income to the masses = more economic growth

Have you been to a Walmart or McDonalds lately? How many check out lines do you see now that have a cashier standing in it to check you out? How many self serf kiosks have replaced the cashier's that used to be employed? It's the same thing at McDonalds. This isn't a choice thing by consumers...it's a reaction by companies to high minimum wages being forced on them by government! People who are struggling to pay rent, put gas in their cars and groceries on their tables will not be able to afford to "pay and tip well" for their meals. They'll stop going out.

 

[citygator]

Your savings accounts have doubled? Are you smoking crack?
Wages have NOT gone up 17.4% since 2019! Neither have costs! You're pulling numbers out of your ass at this point, Gator!
People at the bottom are NOT doing better! Inflation is actually worse than what is being reported because the reported rate doesn't include gas, food or rent...all of which have gone up substantially! If you've got a savings account that maybe is paying a couple of percent you're losing money to inflation. Inflation has ALWAYS hit those at the bottom harder than those at the top!

Here is the poorest 10% of workers…30% up since 2019. They are doing the best. $468 to $611. 30%

 

[Oldestyle]

Wages are actually up 22% since 2019. Gone from $917 to $1121. Everything else I typed is correct too. How do you dispute this? Curious, when you replied I was wrong what data set did you use to determine that? Did it just come out of your ass or did you do even 10 seconds of research?

View attachment 897900

I thought you were an Economist? If you really were one, one would think you could grasp the significance of numbers better than what you're showing here!

If workers in lower paying jobs are being laid off and workers in higher paying jobs aren't...what does that do to the median wage?

If inflation numbers don't reflect the price paid for gas, food, or rent...and those three have gone up substantially then are your statistics really reflective of what's going on in the economy?

 

[Oldestyle]

Here is the poorest 10% of workers…30% up since 2019. They are doing the best. $468 to $611. 30%

View attachment 897903

PolitiFact - Biden’s claim that take-home pay is going up ignores inflation’s earlier impact

President Joe Biden on Jan. 12 faced reporter questions about the discovery of classified documents at his think tank’s

www.politifact.com

 

[citygator]

I thought you were an Economist? If you really were one, one would think you could grasp the significance of numbers better than what you're showing here!

If workers in lower paying jobs are being laid off and workers in higher paying jobs aren't...what does that do to the median wage?

If inflation numbers don't reflect the price paid for gas, food, or rent...and those three have gone up substantially then are your statistics really reflective of what's going on in the economy?

Unemployment is at a historic low dipshit. I showed you the 2nd quartile and the bottom decile which keeps the job comparison in line. The bottom decile (which means lowest paid 10% for the learning impaired) is up more than the rest at 30% increase. The exact opposite of the shit you made up without looking at any data. Why dont you just do some research instead of making shit up? Then I wouldnt make you look like a fool.

 

[Oldestyle]

Unemployment is at a historic low dipshit. I showed you the 2nd quartile and the bottom decile which keeps the job comparison in line. The bottom decile (which means lowest paid 10% for the learning impaired) is up more than the rest at 30% increase. The exact opposite of the shit you made up without looking at any data. Why dont you just do some research instead of making shit up? Then I wouldnt make you look like a fool.

So first you're talking median wage and then you jump to unemployment? Make up your mind! Unlike yourself...who can't think for themselves...and end up buying into the bullshit numbers that someone else spins for you...I understand WHY they are using those numbers in the way that they are! What they're attempting to hide...and what they're trying to distract you with.

 

[citygator]

So first you're talking median wage and then you jump to unemployment? Make up your mind! Unlike yourself...who can't think for themselves...and end up buying into the bullshit numbers that someone else spins for you...I understand WHY they are using those numbers in the way that they are! What they're attempting to hide...and what they're trying to distract you with.

Try to keep up with yourself. You said layoffs were affecting low wage earners. You brought up unemployment, not me. I just answered your bogus made up narrative that was not based on data.

Look, you can scroll up and see that I have posted data to support my opinion. All you have done is make shit up. You haven’t posted one single data point in support. You actually talked about layoffs.. which are at historic lows and you spoke about wages which are actually at historic highs. You have no idea what you are talking about. It’s like debating a goat. Baaaahaaaahahhaaaha

LAYOFFS:

 

[Oldestyle]

Try to keep up with yourself. You said layoffs were affecting low wage earners. You brought up unemployment, not me. I just answered your bogus made up narrative that was not based on data.

Look, you can scroll up and see that I have posted data to support my opinion. All you have done is make shit up. You haven’t posted one single data point in support. You actually talked about layoffs.. which are at historic lows and you spoke about wages which are actually at historic highs. You have no idea what you are talking about. It’s like debating a goat. Baaaahaaaahahhaaaha

LAYOFFS:
View attachment 898031

I tried to explain to you what having low wage employees laid off would do to median income. That's not made up data...that's simple common sense...something you're sorely lacking! I didn't bring up unemployment...that's a different discussion.

 

[Oldestyle]

The fact is that when layoffs DO occur it's people on the lower end of the wage scale that get laid off first! That is what affects median wage. It's not that people are actually making more money...it's that the people on the lower end of the scale are no longer being counted! Duh?

 

[citygator]

I tried to explain to you what having low wage employees laid off would do to median income. That's not made up data...that's simple common sense...something you're sorely lacking! I didn't bring up unemployment...that's a different discussion.

But low wage earners arent being laid off. That is what the layoff chart shows. I also posted the earning of specifically low income earners which were up 30%. What have you to say to those two data points?

Here it is again.. up 30% for the bottom decile (aka bottom 10% of earners)

 

[Oldestyle]

But low wage earners arent being laid off. That is what the layoff chart shows. I also posted the earning of specifically low income earners which were up 30%. What have you to say to those two data points?

Here it is again.. up 30% for the bottom decile (aka bottom 10% of earners)

View attachment 898048

Low wage earners are always the first to be laid off, Gator! Does that come as a shock to you? I thought you had real world experience? Again...you're showing the earnings of low income workers that haven't been laid off! Where in that graph does it show the earnings of those that have been? If you don't have a job then you don't have earnings period! That graph doesn't reflect reality.
Let me give you a real world example. You and I both work at McDonalds. The government puts in place a $20 minimum wage. The company responds by putting in kiosks which enables them to lay me off. You still have a job. You're making more money. I on the other hand don't have a job now and I'm not making any. Your graph reflects your good fortune and doesn't reflect my bad fortune.

 

[citygator]

Low wage earners are always the first to be laid off, Gator! Does that come as a shock to you? I thought you had real world experience? Again...you're showing the earnings of low income workers that haven't been laid off! Where in that graph does it show the earnings of those that have been? If you don't have a job then you don't have earnings period! That graph doesn't reflect reality.
Let me give you a real world example. You and I both work at McDonalds. The government puts in place a $20 minimum wage. The company responds by putting in kiosks which enables them to lay me off. You still have a job. You're making more money. I on the other hand don't have a job now and I'm not making any. Your graph reflects your good fortune and doesn't reflect my bad fortune.

Unemployment rate for high school no college.

 

[Doc7505]

Media Lies: Those January Jobs Gains Never Happened​

Media Lies: Those January Jobs Gains Never Happened

pjmedia.com

5 Feb 2024 ~~ By Stephen Green

When are 335,000 new jobs not 335,000 new jobs? When Washington makes them up and the media dutifully report them with all due breathlessness.
But first, let's look at how the media reported January's job numbers.
January Jobs Report Was a Blowout. Disregard the Seasonal Noise. —Barrons

<<<<>>>>​

The U.S. created an extraordinary number of jobs in January. Here's a deeper look. —NPR

<<<<>>>>​

U.S. employment soars by 353,000, stunning Wall Street. —MarketWatch

If you go to the more usual suspects, you'll see "Another shockingly good jobs report shows America's economy is booming" from CNN, "Blockbuster Jobs Report Backs Up Fed’s Patience as It Waits to Cut Rates," from the NYT, and this gag-worthy bit from NBC News: "The great American jobs machine keeps revving in an election year."
With all those new jobs, why do Americans remain so glum about Bidenomics? Newsmax reported Sunday that "President Joe Biden hit yet another new low in his approval rating," at eye-popping 37% according to the latest NBC News poll. Democrat pollster Jeff Horwitt of Hart Research Associates conducted the poll for NBC and called the results "damning" and described Biden's as "a presidency in peril."
~Snip~
"Rosenberg Research calculated that, despite the job gains, total hours worked actually contracted." [Emphasis added.] In fact, the Household Survey — "the one the media ignores," as Barone put it — "showed up with a -31K headline jobs number, and a fall of -63K in full-time jobs." Worse, the labor participation rate remains down. Americans are working more part-time jobs because there are fewer full-time jobs to go around — a sizable fraction of last month's jobs went to people taking on a second or third job.
So how did the BLS come up with 335,000 new jobs when the Household Survey showed a net loss of 31,000? For that, let's go to Seeking Alpha:

The BLS also publishes the data behind their Birth/Death assumptions. January is always a big drop, but this was smaller than last year (-144k in Jan 2023 vs. -121k in Jan 2024). Birth/death specifically refers to assumptions made about new business being formed.​

"Birth/Death assumptions" means just that. The BLS assumes that so many jobs were created or destroyed and (kind of) fixes the imaginary numbers when the real data come in. Now you know why jobs always seem to get revised downward. Seeking Alpha adds that "many believe the Household survey is a more accurate measure of employment when compared to the headline number."
No kidding.

Commentary:
The Job Gains falsely reported, sound more like a Soetoro/Obama Directive.
Seasonal employment adjustments are simply crazy for January. The swings are so large it is almost impossible to state them without being way, way off the mark.
I don’t think many serious economy watchers take the January number (of any year) with anything less than a “boulder” sized grain of salt.
But, the BLS puts them out without any explanation and the idiots applaud them. Wait until the revisions next month…that will go unreported.
Meanwhile, ADP reported 104k? Quite a difference!

 

[Lastamender]

Did I say shit jobs?

 

[citygator]

Media Lies: Those January Jobs Gains Never Happened​

Media Lies: Those January Jobs Gains Never Happened

pjmedia.com

5 Feb 2024 ~~ By Stephen Green

When are 335,000 new jobs not 335,000 new jobs? When Washington makes them up and the media dutifully report them with all due breathlessness.
But first, let's look at how the media reported January's job numbers.
January Jobs Report Was a Blowout. Disregard the Seasonal Noise. —Barrons

<<<<>>>>​

The U.S. created an extraordinary number of jobs in January. Here's a deeper look. —NPR

<<<<>>>>​

U.S. employment soars by 353,000, stunning Wall Street. —MarketWatch

If you go to the more usual suspects, you'll see "Another shockingly good jobs report shows America's economy is booming" from CNN, "Blockbuster Jobs Report Backs Up Fed’s Patience as It Waits to Cut Rates," from the NYT, and this gag-worthy bit from NBC News: "The great American jobs machine keeps revving in an election year."
With all those new jobs, why do Americans remain so glum about Bidenomics? Newsmax reported Sunday that "President Joe Biden hit yet another new low in his approval rating," at eye-popping 37% according to the latest NBC News poll. Democrat pollster Jeff Horwitt of Hart Research Associates conducted the poll for NBC and called the results "damning" and described Biden's as "a presidency in peril."
~Snip~
"Rosenberg Research calculated that, despite the job gains, total hours worked actually contracted." [Emphasis added.] In fact, the Household Survey — "the one the media ignores," as Barone put it — "showed up with a -31K headline jobs number, and a fall of -63K in full-time jobs." Worse, the labor participation rate remains down. Americans are working more part-time jobs because there are fewer full-time jobs to go around — a sizable fraction of last month's jobs went to people taking on a second or third job.
So how did the BLS come up with 335,000 new jobs when the Household Survey showed a net loss of 31,000? For that, let's go to Seeking Alpha:

The BLS also publishes the data behind their Birth/Death assumptions. January is always a big drop, but this was smaller than last year (-144k in Jan 2023 vs. -121k in Jan 2024). Birth/death specifically refers to assumptions made about new business being formed.​

"Birth/Death assumptions" means just that. The BLS assumes that so many jobs were created or destroyed and (kind of) fixes the imaginary numbers when the real data come in. Now you know why jobs always seem to get revised downward. Seeking Alpha adds that "many believe the Household survey is a more accurate measure of employment when compared to the headline number."
No kidding.

Commentary:
The Job Gains falsely reported, sound more like a Soetoro/Obama Directive.
Seasonal employment adjustments are simply crazy for January. The swings are so large it is almost impossible to state them without being way, way off the mark.
I don’t think many serious economy watchers take the January number (of any year) with anything less than a “boulder” sized grain of salt.
But, the BLS puts them out without any explanation and the idiots applaud them. Wait until the revisions next month…that will go unreported.
Meanwhile, ADP reported 104k? Quite a difference!


View attachment 898100

The economy is so good the Pubs have shifted from ignoring the good data to calling it fake data. Bwahahahaha. I love seeing you guys go through the stages of grief.

 

[KissMy]

Have you been to a Walmart or McDonalds lately? How many check out lines do you see now that have a cashier standing in it to check you out? How many self serf kiosks have replaced the cashier's that used to be employed? It's the same thing at McDonalds. This isn't a choice thing by consumers...it's a reaction by companies to high minimum wages being forced on them by government! People who are struggling to pay rent, put gas in their cars and groceries on their tables will not be able to afford to "pay and tip well" for their meals. They'll stop going out.

Stop with the lies. Fewer people are struggling to pay their bills. More employees are doing the shopping for their customers, bagging and bringing the items to their vehicles as they drive up. Or they are delivering the items to their homes. So there are fewer people available to man the traditional registers. High wage has little to do with how many cashiers there are. Improved technology & customers are spending more on services is what drove the change.