US Economy adds 272,000 jobs

[rightwinger]

Great news for all Americans


Today's jobs report: US economy added booming 272,000 jobs in May, unemployment at 4%

Today's jobs report: US economy added booming 272,000 jobs in May, unemployment at 4%

Employers added booming 272,000 jobs in May despite growing household financial strains. Unemployment rose to 4%.

www.usatoday.com

Latest jobs report shows accelerating job growth despite high interest rates

The US economy added 272,000 jobs in May, according to Labor Department data released Friday. The unemployment rate rose to 4% from 3.9%.

www.cnn.com

 

[Harpy Eagle]

that is going to piss off some people on here

 

[rightwinger]

that is going to piss off some people on here

Why would anyone who loves their country be pissed off by a good economics report ?

 

[JLW]

Biden‘s economy is red hot.

Why bring it down by electing Trump?

 

[odanny]

Thank you Mr. President!

 

[mudwhistle]

that is going to piss off some people on here

Why?

 

[rightwinger]

Average hourly pay rose 14 cents to $34.91, pushing up the yearly increase to 4.1%

Many Americans, meanwhile, are benefiting because typical pay increases have outpaced inflation the past year, giving them more purchasing power.

 

[mudwhistle]

Great news for all Americans


Today's jobs report: US economy added booming 272,000 jobs in May, unemployment at 4%

Today's jobs report: US economy added booming 272,000 jobs in May, unemployment at 4%

Employers added booming 272,000 jobs in May despite growing household financial strains. Unemployment rose to 4%.

www.usatoday.com

Latest jobs report shows accelerating job growth despite high interest rates

The US economy added 272,000 jobs in May, according to Labor Department data released Friday. The unemployment rate rose to 4% from 3.9%.

www.cnn.com

This isn't an actual count of new jobs but an estimation by our corrupt Dept. Of Labor.

And the UE rate went up. So if that's the case, why are you crowing about these imaginary jobs?

From your link:

The unemployment rate, which is calculated from a separate survey, rose from 3.9% to 4%, the highest since January 2022, the Labor Department said Friday.

Economists had estimated that 185,000 jobs were added last month, according to a Bloomberg survey.

 

[airplanemechanic]

Well, that's good news. In Joe Bidens inflationary economy, people need more than one job to pay the bills.

But yet, still have record debt:

Household Debt and Credit Report

Unique data and insight into the credit conditions and activity of U.S. households

www.newyorkfed.org

Now a record number of mortgages and car loans are falling delinquent. I thought all these people had such wonderful jobs:

Nearly 9 percent of credit card balances and 8 percent of auto loans (annualized) transitioned into delinquency.

If they've all got such wonderful jobs, why can't they pay off their debts? And wouldn't all these wonderful jobs mean Biden can stop using taxpayer dollars for "student debt forgiveness"?

Credit card debt is 13.1% higher than a year ago. Where are all these wonderful jobs?

And if all these wonderful jobs are being created, why is the unemployment rate STILL higher than it was under Trump? 4%? And going UP?

 

[Sunni Man]

Average hourly pay rose 14 cents to $34.91,

..........

 

[rightwinger]

This isn't an actual count of new jobs but an estimation by our corrupt Dept. Of Labor.

Interesting how the Dept of Labor statistics are corrupt when Obama and Biden are President but were embraced when Trump was President

 

[rightwinger]

..........

Read links in OP

 

[Maxdeath]

An estimate that will be adjusted down once the real numbers come in.
But it would be nice if it were actually true. Inflation is out pacing any wage increase unless you happen to be in the 1%.
So I am not that impressed with this news.

 

[rightwinger]

Last month, health care and social assistance again led the job gains with 83,000. Leisure and hospitality, which includes restaurants and bars, added 42,000; and professional and business services, 33,000.

 

[airplanemechanic]

Inflation still outpacing wage growth for a majority of Americans:

‘A tale of 2 economies': Wages are going up. Why do we feel like we can't afford anything?

A majority of Americans, around 64%, saw an increase in wages between October 2022 and October 2023. But if most workers saw bigger paychecks, why do so many people still feel like everything is too expensive?

www.nbcwashington.com

 

[rightwinger]

An estimate that will be adjusted down once the real numbers come in.
But it would be nice if it were actually true. Inflation is out pacing any wage increase unless you happen to be in the 1%.
So I am not that impressed with this news.

Actually, Hourly pay increased 4.1% in the last year….outpacing inflation

 

[Maxdeath]

Actually, Hourly pay increased 4.1% in the last year….outpacing inflation

Yes if you were a 1% er or you were a fast food worker in California. Of course that pay increase in California did not work out so well.
But hey it brought the wage increase figures up. That was all that counted right? It doesn’t matter that so many lost jobs and more will.

 

[Sunni Man]

Average hourly pay rose 14 cents to $34.91,

Average?.....Nope
The few people I know making $34+ an hour are Union workers, like at the Post Office or UPS
The vast majority of working people are making way less than your bogus Biden hourly pay claim.

 

[airplanemechanic]

Average?.....Nope
The few people I know making $34+ an hour are Union workers.
Most working people are making far less than your bogus Biden hourly pay claim.

That would be because of manipulation of the numbers. Take one person, making 10 million a year, and average it with 99 people making 10 dollars an hour. THE AVERAGE PAY IS FANTASTIC. The only issue is. 99 of those 100 people aren't making that pay. Just 1 is.

Just means the rich got richer. The poor still remain poor. I thought democrats loved the poor. Their inflation hurts the poor the most. Trump showed he was for the poor. He put the poor to work, giving them GOOD jobs and keeping prices low. What does Biden do? Opens up the border the day he gets into office allowing low wage filthy animals to come across and take jobs from Americans. He also tries to shove overpriced EV's in peoples faces. How many poor can pay 60,000 for an EV that goes 150 miles between charges?

Yea, Biden is an idiot.

 

[braalian]

I’m skeptical that the average hourly wage is over $34/hr.

If so, then it’s a case of a small number of people making astronomical amounts skewing the average

A median wage might give a more accurate picture