Rosy jobs report starves off recession talk

[HandleTheTruth]

Strong jobs report staves off fears of a recession amid rising prices

Despite worries about whether the U.S. is sliding into a recession, Friday's surprisingly strong jobs report suggests otherwise. The U.S. has averaged adding nearly 375,000 new jobs a month for the past three months, and private sector employment has returned to pre-pandemic levels. But concerns...

www.pbs.org

With 327,000 jobs created its not a bad report at all.

 

[toobfreak]

With 327,000 jobs created its not a bad report at all.

That's just normal events. The best thing democrats have to
go on this Fall is that a year after their pandemic
faded, the job market is finally starting
to turn the corner just in time
for next Spring's food
shortages.

 

[Ray From Cleveland]

Strong jobs report staves off fears of a recession amid rising prices

Despite worries about whether the U.S. is sliding into a recession, Friday's surprisingly strong jobs report suggests otherwise. The U.S. has averaged adding nearly 375,000 new jobs a month for the past three months, and private sector employment has returned to pre-pandemic levels. But concerns...

www.pbs.org

With 327,000 jobs created its not a bad report at all.

Jobs are not the problem. There are (and were) plenty of jobs. The problem is getting people to take them. My mailman finally delivered our mail at 8:00pm last night. Even the Post office can't find people to work. At one time, you had to just about know somebody in the PO to get a job there.

A recession is defined as two consecutive quarters of negative growth. People with little money can't afford to buy much even if on government assistance. I think when it hits, it's going to be an overnight thing. It's going to hit all at once. As companies replenish their warehouses and people buy less and less, it's inevitable a recession is likely since inflation out paces wage growth, and jobs disappear.

 

[Mac1958]

With 327,000 jobs created its not a bad report at all.

Yeah, nice to see. It's a weird time. The Fed will have to keep pushing up rates, but we need the Fed Funds Rate higher for the future.

Did you know you could get a Money Market fund for around 5% before the crash in 2008? QE had to be done, but it badly distorted markets, keeping rates down, flooding the economy with cash.

I'm almost afraid to say this after 14 years of full-on crazy, but our economy may actually be beginning to adapt to its changes and, gulp, "normalize".

 

[JoeB131]

Jobs are not the problem. There are (and were) plenty of jobs. The problem is getting people to take them. My mailman finally delivered our mail at 8:00pm last night. Even the Post office can't find people to work. At one time, you had to just about know somebody in the PO to get a job there.

A recession is defined as two consecutive quarters of negative growth. People with little money can't afford to buy much even if on government assistance. I think when it hits, it's going to be an overnight thing. It's going to hit all at once. As companies replenish their warehouses and people buy less and less, it's inevitable a recession is likely since inflation out paces wage growth, and jobs disappear.

Welfare Ray, hoping that Americans suffer some calamity.

Here's the underlying problem, which is why I'm concerned the Fed raising interest rates won't fix the problem.

Baby Boomers are retiring at a faster rate than millenials/Gen Z can replace them. Besides the fact that when a Boomer retires, you probably need to hire two Gen Z to replace their skill set, the Gen Z's can demand ridiculous amounts of money for entry level jobs now. This is ONE of the drivers of inflation, and it probably won't be fixed by the Fed raising rates. If anything, it will probably spur the Gen Z to ask for MORE money.

The other driver is the increased cost of international commodities. Oil being the big one, but really, the costs of all commodities have gone up, globally, and that's not going to change with the whole world having increased demand.

Yeah, nice to see. It's a weird time. The Fed will have to keep pushing up rates, but we need the Fed Funds Rate higher for the future.

Did you know you could get a Money Market fund for around 5% before the crash in 2008? QE had to be done, but it badly distorted markets, keeping rates down, flooding the economy with cash.

I'm almost afraid to say this after 14 years of full-on crazy, but our economy may actually be beginning to adapt to its changes and, gulp, "normalize".

Vichy Mac, living in mortal terror that the economy might benefit working stiffs instead of the parasites in the investor class.

 

[wamose]

I believe federal jobs reports about as much as I believe the polls leading up to the 2016 election.

 

[JoeB131]

I believe federal jobs reports about as much as I believe the polls leading up to the 2016 election.

Why? The polls in 2016 were fairly accurate. They predicted Hillary would win the popular vote but several swing states were too close to call.

 

[protectionist]

Strong jobs report staves off fears of a recession amid rising prices

Despite worries about whether the U.S. is sliding into a recession, Friday's surprisingly strong jobs report suggests otherwise. The U.S. has averaged adding nearly 375,000 new jobs a month for the past three months, and private sector employment has returned to pre-pandemic levels. But concerns...

www.pbs.org

With 327,000 jobs created its not a bad report at all.

Too bad they were just workers RETURNING back to already existing jobs after lockdowns ended. Actually, there were NO jobs created, further confirming the recession we're in. Ouch.

 

[protectionist]

Yeah, nice to see. It's a weird time. The Fed will have to keep pushing up rates, but we need the Fed Funds Rate higher for the future.

Did you know you could get a Money Market fund for around 5% before the crash in 2008? QE had to be done, but it badly distorted markets, keeping rates down, flooding the economy with cash.

I'm almost afraid to say this after 14 years of full-on crazy, but our economy may actually be beginning to adapt to its changes and, gulp, "normalize".

Wanna buy a bridge in Brooklyn ?

 

[22lcidw]

Welfare Ray, hoping that Americans suffer some calamity.

Here's the underlying problem, which is why I'm concerned the Fed raising interest rates won't fix the problem.

Baby Boomers are retiring at a faster rate than millenials/Gen Z can replace them. Besides the fact that when a Boomer retires, you probably need to hire two Gen Z to replace their skill set, the Gen Z's can demand ridiculous amounts of money for entry level jobs now. This is ONE of the drivers of inflation, and it probably won't be fixed by the Fed raising rates. If anything, it will probably spur the Gen Z to ask for MORE money.

The other driver is the increased cost of international commodities. Oil being the big one, but really, the costs of all commodities have gone up, globally, and that's not going to change with the whole world having increased demand.



Vichy Mac, living in mortal terror that the economy might benefit working stiffs instead of the parasites in the investor class.

Gen X which is between the Boomers and the Millennials is half the size in numbers of the Boomers. They are the money makers now and the last generation to be better than the previous one as the follow-on generations are now going to be poorer.

 

[1srelluc]

I accept the jobs report for what it is......Basically folks are getting past the overly long political lock-down of our county, combined with they "stay at Homers" either being told to come back to work or the hold-outs finally figuring out that maybe a steady paycheck has something to do with being able to enjoy life.

I've seen the difference in my AO (52% commute into NOtVA).....Us retired oldsters have the run of the midmorning town again instead of having to put up with the "Homers" out running errands when they were supposed to be working. I figured that shit would catch-up with them by and by.

That said as interest rates and prices go up I expect demand to decrease for durable goods/housing start-ups and unemployment to increase.....Give it a few more months.

Looking at the decrease in weekend traffic on my AO gas prices are having their impact right now. I figure when peeps got their first CC/gas card statements with $4.00+ gas and saw what they were spending they had them a "oh shit" moment.

 

[TemplarKormac]

It's great people are getting jobs. But unless inflation evens out or falls in line with wage growth, then jobs are nothing but survival tools for lots of people.

 

[Ray From Cleveland]

Too bad they were just workers RETURNING back to already existing jobs after lockdowns ended. Actually, there were NO jobs created, further confirming the recession we're in. Ouch.

Watching Tucker last night he claimed after Covid finally made it's way out, over 5 million people didn't return back to work. The government conditioned people not to work by paying them more to stay home. That ended in September of last year but if you are a younger person living with your parents, you were able to bank a lot of that money and stretch it out for several months afterwards.

Here fast food places are still suffering shortages. One of our locals posted in Facebook that she went to a Taco Bell, and one person was running the entire place, taking orders. cooking food, sweeping floors and cleaning tables. The nearest Burger King where I live is about five miles away. It's drive-thru only because they can't get enough people to have somebody take orders at the counter.

My experience is they have the lowest quality of workers I've ever seen. Terrible service, wrong orders all the time, cocky attitude, just the bottom of the barrel when it comes to employees.

The trend might be here to stay.

A record number of Americans are back living with their parents, as the share of the U.S. population living in multigenerational households hit 18% last year, according to a new survey by Pew Research Center.

The survey, which collected interviews from over 1,500 Americans of different ages and income levels last October, found that the number of multigenerational homes in the U.S. has quadrupled since the 1970s—a rate of growth far higher than that of other types of households.

Younger millennials are by far the most likely to be living in a multigenerational household. Nearly one third of Americans aged 25 to 29 do so, with the vast majority living with their parents.

More American adults are living with their parents than ever

The pandemic pushed many Americans to move in with relatives. Now, a hot housing market and debt are forcing them to stay there.

fortune.com

 

[JoeB131]

It's great people are getting jobs. But unless inflation evens out or falls in line with wage growth, then jobs are nothing but survival tools for lots of people.

Says the guy who says he can't hold down a job.

Watching Tucker last night he claimed after Covid finally made it's way out, over 5 million people didn't return back to work. The government conditioned people not to work by paying them more to stay home. That ended in September of last year but if you are a younger person living with your parents, you were able to bank a lot of that money and stretch it out for several months afterwards.

Here fast food places are still suffering shortages. One of our locals posted in Facebook that she went to a Taco Bell, and one person was running the entire place, taking orders. cooking food, sweeping floors and cleaning tables. The nearest Burger King where I live is about five miles away. It's drive-thru only because they can't get enough people to have somebody take orders at the counter.

My experience is they have the lowest quality of workers I've ever seen. Terrible service, wrong orders all the time, cocky attitude, just the bottom of the barrel when it comes to employees.

The trend might be here to stay.

A record number of Americans are back living with their parents, as the share of the U.S. population living in multigenerational households hit 18% last year, according to a new survey by Pew Research Center.

The survey, which collected interviews from over 1,500 Americans of different ages and income levels last October, found that the number of multigenerational homes in the U.S. has quadrupled since the 1970s—a rate of growth far higher than that of other types of households.

Younger millennials are by far the most likely to be living in a multigenerational household. Nearly one third of Americans aged 25 to 29 do so, with the vast majority living with their parents.

Says another guy collecting a check from the government denouncing people collecting checks from the government.

So after years of telling people in the fast food industry that they are worthless and don't deserve a living wage, they are taking the hint and not doing those jobs? Amazing.

Ray, I think you need to sign up for one of those jobs and show them what a work ethic is really like.

Okay, here's the real problem.

For years, we've been making teenagers go out and get these jobs to "build character". Except now that job entails exposing yourself to deadly viruses, entitled Karens, and maybe the occasional gun-wielding maniac looking to empty the cash register. And it's not like one of these jobs can actually pay for college these days like when I went through college in the 1980's.

 

[Independent thinker]

Strong jobs report staves off fears of a recession amid rising prices

Despite worries about whether the U.S. is sliding into a recession, Friday's surprisingly strong jobs report suggests otherwise. The U.S. has averaged adding nearly 375,000 new jobs a month for the past three months, and private sector employment has returned to pre-pandemic levels. But concerns...

www.pbs.org

With 327,000 jobs created its not a bad report at all.

LOL. Yes, try telling that to the people who pay rent or a mortgage and buy gas and groceries. Everything's rosy.

 

[Ray From Cleveland]

LOL. Yes, try telling that to the people who pay rent or a mortgage and buy gas and groceries. Everything's rosy.

The article I posted about more people living with their parents than ever pointed that out. Younger people can't afford rent and they certainly can't afford to buy a house, so they move back in with mom and dad.

When I was younger the object was to get the hell out of the house and into your own place ASAP. If you didn't have a job, coming home high or drunk every night, the parents kicked you out to force you into adulthood.

Today Dad is smoking pot with son in the basement. Parents more than welcome their children to live at their house for as long as possible whether they have a job or not. Between that and government handouts, our younger people lose the drive to work and get ahead. They have no ambition to work, no ambition to find better paying jobs, and if they do get a job, no ambition to get there on time every day and do an honest days work.

 

[JoeB131]

The article I posted about more people living with their parents than ever pointed that out. Younger people can't afford rent and they certainly can't afford to buy a house, so they move back in with mom and dad.

When I was younger the object was to get the hell out of the house and into your own place ASAP. If you didn't have a job, coming home high or drunk every night, the parents kicked you out to force you into adulthood.

Today Dad is smoking pot with son in the basement. Parents more than welcome their children to live at their house for as long as possible whether they have a job or not. Between that and government handouts, our younger people lose the drive to work and get ahead. They have no ambition to work, no ambition to find better paying jobs, and if they do get a job, no ambition to get there on time every day and do an honest days work.

Says the guy who grabbed a disability check with both hands for a BS back problem. Getting life tips from Welfare Rays is like taking a cooking class from Jeff Dahmner.

Yes, we have an affordable housing crisis. I bought my first home, a two-flat in a depressed area called Cicero, for $55K. I rented out half and lived in the other half. 13 years later, I sold it for twice what I paid for it. Today, that same building is valued at $232K. Even though Cicero is a MUCH worse neighborhood today than when I lived there in the 1980's. (I also think the new owners turned the basement into an apartment, but I could be wrong.)

The cost of housing has increased 200% since 1990. This is why young people aren't unassing their parent's houses. Not because of some "moral failing".

80% of Home Price Appreciation Since 1990 Was Due To Falling Mortgage Interest Rates?

It certainly seems that most of the house price appreciation over the last 30 years has been due to falling interest rates.

realestatedecoded.com

 

[Aldo Raine]

I believe federal jobs reports about as much as I believe the polls leading up to the 2016 election.

Bet you believed those jobs reports while tRump was president. Well the good jobs reports that is.
MAGA

 

[imawhosure]

The article I posted about more people living with their parents than ever pointed that out. Younger people can't afford rent and they certainly can't afford to buy a house, so they move back in with mom and dad.

When I was younger the object was to get the hell out of the house and into your own place ASAP. If you didn't have a job, coming home high or drunk every night, the parents kicked you out to force you into adulthood.

Today Dad is smoking pot with son in the basement. Parents more than welcome their children to live at their house for as long as possible whether they have a job or not. Between that and government handouts, our younger people lose the drive to work and get ahead. They have no ambition to work, no ambition to find better paying jobs, and if they do get a job, no ambition to get there on time every day and do an honest days work.

I do not understand what the OP, or anyone who agrees with his take is thinking. If the government came to us and said---------->everyone is getting between a 3000, and 5000 dollar hike in taxes per year, the economy would tank within a year as everyone had to either cut back, or to sustain their standard of living, go into their savings. This is for whomever you blame, the equivalence of that! Add to that, the raising of interest rates by the fed stifling economic activity to cool inflation.

Back in the Carter era, people have to remember that many workers under contract had a COLA allowance included in their package. Inflation went up, every quarter their pay was adjusted. For the most part, that no longer exists, but they are STILL under contract. This means that their pay will NOT increase until their contract expires so they lose ground each and every day.

Betting against a recession with these facts in evidence is pure folly. While it is not 100% certain because nothing in economic prognostication is certain, the probability is certainly over 80%. The next time someone tells any of you they are certain that no recession is coming rather quickly, ask them what makes them reasonably certain of this. If instead of giving you a theory their thoughts are based on, they tell you because the government says so, that should explain everything to you, also letting you know they are doing you a disservice by parroting a rosy scenario put forth by the gang that can't do anything correctly.

 

[Ray From Cleveland]

I do not understand what the OP, or anyone who agrees with his take is thinking. If the government came to us and said---------->everyone is getting between a 3000, and 5000 dollar hike in taxes per year, the economy would tank within a year as everyone had to either cut back, or to sustain their standard of living, go into their savings. This is for whomever you blame, the equivalence of that! Add to that, the raising of interest rates by the fed stifling economic activity to cool inflation.

Back in the Carter era, people have to remember that many workers under contract had a COLA allowance included in their package. Inflation went up, every quarter their pay was adjusted. For the most part, that no longer exists, but they are STILL under contract. This means that their pay will NOT increase until their contract expires so they lose ground each and every day.

Betting against a recession with these facts in evidence is pure folly. While it is not 100% certain because nothing in economic prognostication is certain, the probability is certainly over 80%. The next time someone tells any of you they are certain that no recession is coming rather quickly, ask them what makes them reasonably certain of this. If instead of giving you a theory their thoughts are based on, they tell you because the government says so, that should explain everything to you, also letting you know they are doing you a disservice by parroting a rosy scenario put forth by the gang that can't do anything correctly.

Back in the Carter days unions were a big thing. So the COLA increase was mandatory for many places, and non-union shops had to compete against union shops to attract workers, so they followed suit.

People who don't follow politics or issues use their environment to make judgements. I'm fine, I can work as many hours as I want, plenty of jobs around, so there's no recession coming. That's why I said once it hits, it's going to hit all at once like night and day.