Private Sector Companies Added 497,000 Jobs In June, More Than Double Expectations

[The Banker]

2019

huh?
2019 Trump had a high debt, low growth, trash economy.

Trump had to beg the FED for more fake money stimulus in 2019, and the FED had to start doing QE again because Trump's economy was too weak to stand on its own 2 legs.

The Fed will be growing its balance sheet again, but don't call it 'QE4'

The Federal Reserve will be conducting operations that look and sound a lot like what it did to pull the economy out of the financial crisis. However, the process this time around will be different in the details.

www.cnbc.com

 

[g5000]

Those jobs don't pay as well as manufacturing jobs. They also don't create as many jobs as manufacturing jobs do. Imagine I open a factory where I make something. I have to buy things to make my product. If you own a ski resort you don't have to make anything. Just wait for the snow and skiers to come. You know what I mean? So a manufacturing company buys and sells. Hospitality mostly sells.

Speaking of manufacturing...more good news.

America Is Back in the Factory Business

Record spending on manufacturing construction heralds a made-in-the-U.S. rebound, stoked by green-energy incentives and concerns about foreign supply chains.

www.wsj.com

Production at U.S. factories rose last year, but few things were produced at a more furious pace than factories themselves.

Construction spending related to manufacturing reached $108 billion in 2022, Census Bureau data show, the highest annual total on record—more than was spent to build schools, healthcare centers or office buildings.

New factories are rising in urban cores and rural fields, desert flats and surf towns. Much of the growth is coming in the high-tech fields of electric-vehicle batteries and semiconductors, national priorities backed by billions of dollars in government incentives. Other companies that once relied exclusively on lower-cost countries to manufacture eyeglasses and bicycles and bodybuilding supplements have found reasons to come home.

[snip]

Today U.S. manufacturing employment is holding steady at about 10% of the private sector, according to the U.S. Bureau of Labor Statistics, with nearly 800,000 jobs added in the sector over the past two years. The total number, 13 million, was virtually unchanged in the latest BLS jobs report.

[snip]

The industry is actually hurting for workers—about 800,000 more are needed, according to the National Association of Manufacturers—leading to concerns that labor shortages and other bottlenecks could short-circuit the boom.

“I can bring back all the orders I want; there will be no one to make them,” said Harry Moser, president of the Reshoring Initiative, which advocates for bringing manufacturing jobs back to the U.S.

Huge government incentives are stoking the frenzy. The Biden administration, seeing electric vehicles and semiconductors as matters of national security, has devoted billions of dollars to expanding those industries in the U.S. States are kicking in billions more.

 

[g5000]

2019

Unemployment is currently the lowest since at least 1969.

The LFPR is the highest since 2007.

US GDP is at a record high.

2019?

 

[g5000]

Trump doesn't believe the numbers. But if he wins, the minute that number improves even .001%, suddenly he's a believer again.

Trump will claim actual unemployment is 142 percent. The highest it's ever been. A total disaster, that I can tell you.

 

[g5000]

I'm wondering if that is jobs that were recovered or new jobs? There is a difference you know. One thing is for certain, those jobs came at a much higher price tag for employers.

Blah, our government doesn't know whether to pump the brakes or give it more gas. So it's doing both.

Shit, I'd rather a recession than more inflation but we'll probably get both.

First we are likely in some sort of stagflation now.

Yes, yes, yes. We get it. You want to see our country fail. All good news is bad news.

Second, the issue is that the Administration has refused to allow any economic bad news to occur if you will remember the not-recession recession we had were the definition of recession was ignored, until the data could be re-crafted to reflect the narrative?

You have no clue what a recession is. You THINK you do, but you don't.

Again, you want our country to fail.

 

[Harry Dresden]

Traitor MAGA trash are triggered by Job Biden's booming success on the economy.

All the jobs are new.
The covid excuse has run out of legs.

All you people have are excuses.

Bush inherited a balanced budget then blew up the economy, all you have are excuses
Trump ramped up the deficit massively every year of his presidency, pre-covid and gave us 25% of our total debt. All you have are excuses

Biden has given us the best labor market is US history because of his great policy.

Enjoy the booming data !

Trump gave us 25% of our total debt.

who gave us the other 75%?.....

 

[rightwinger]

Not if they are temporary summer jobs.

Nice spin

But temporary summer jobs don’t count in employment figures and the numbers are seasonally adjusted.

Now you are supposed to call them all burger flipping jobs

 

[Nostra]

Private Sector Companies Added 497,000 Jobs In June, More Than Double Expectations

Holy moley! What great news! This will cause a lot of Trumptard butts to burn. Ordinarily, when there is great jobs growth when a D is in the White House, the tard herd invariably whines, "B-b-b-b-b-but LFPR!" Sadly for them, the Labor Force Participation Rate is higher than it ever was...

www.usmessageboard.com

 

[rightwinger]

How many of these jobs are just basic recovery from all the jobs lost during the COVID shutdown of the economy?

How's the federal response to rate hikes going?

All those jobs were recovered months ago

 

[citygator]

This is Bidenomics. It's Joes world and you're just living in it.

Seriously though, good numbers and a healthy economy. I am really sorry for you right wingers that the economy isnt in the tank like you want.

 

[bodecea]

Holy moley! What great news! This will cause a lot of Trumptard butts to burn.

Ordinarily, when there is great jobs growth when a D is in the White House, the tard herd invariably whines, "B-b-b-b-b-but LFPR!"

Sadly for them, the Labor Force Participation Rate is higher than it ever was during the Trump regime.

So it's good news all around, and bad news for those who want to see our country fail.

Private sector companies added 497,000 jobs in June, more than double expectations, ADP says

The U.S. labor market showed no signs of letting up in June, as companies created far more jobs than expected.

www.cnbc.com

The U.S. labor market showed no signs of letting up in June, as companies created far more jobs than expected, payroll processing firm ADP reported Thursday.

Private sector jobs surged by 497,000 for the month, well ahead of the downwardly revised 267,000 gain in May and much better than the 220,000 Dow Jones consensus estimate. The increase resulted in the biggest monthly rise since July 2022.

From a sector standpoint, leisure and hospitality led with 232,000 new hires, followed by construction with 97,000, and trade, transportation and utilities at 90,000.

Labor force participation rate for people ages 25 to 54 in May 2023 highest since January 2007​

​

It IS good news for all Americans.

 

[citygator]

How many of these jobs are just basic recovery from all the jobs lost during the COVID shutdown of the economy?

How's the federal response to rate hikes going?

I made it easy for you... we have more people working in Bidenomics than under Trump... by far.

 

[Mac1958]

holy crap

 

[bodecea]

Yet, businesses like woke companies Budweiser and Target, are losing jobs along with the support industries because of their immoral policies trying to influence the people who dont do the crap they want. The news is that more jobs are going to be cut soon.

Where does it say that more jobs will be cut soon?

 

[citygator]

What's hotter? The weather or the economy?

 

[bodecea]

"soaring"

This is upsetting to you?

 

[jotathought]

Again .. how many of these jobs are related to the shutdown of the COVID economy which impacted millions of workers (10 - 18 million)?

 

[1srelluc]

Yes, yes, yes. We get it. You want to see our country fail. All good news is bad news.



You have no clue what a recession is. You THINK you do, but you don't.

Again, you want our country to fail.

By and by we will see....Pepperidge Farms will remember.

 

[Nostra]

What's hotter? The weather or the economy?

Inflation.
Gas prices.

 

[rightwinger]

Again .. how many of these jobs are related to the shutdown of the COVID economy which impacted millions of workers (10 - 18 million)?

How about ….None

Anyone who was going to rehire workers did so months ago
Nobody is sitting around waiting for their pre-COVID job back