The U.S. labor market clocked a shockingly strong month in January, adding 517,000 jobs and dipping down to 3.4 percent unemployment, according to data released Friday by the Labor Department.
The numbers blew past expectations. Analysts were projecting an increase of around 185,000 jobs and for the unemployment rate to edge up to 3.6 percent. In December, the unemployment rate dipped back down to 3.5 percent and added 260,000 new jobs, according to revised figures released Friday.
edited by moderator, fair use, 2 paragraph rule
Bo
I think the report is pure BS. BUT The Feds have been spending like drunken sailors so maybe this is a return on “investment.”
If you dig you will likely find ‘they moved the goalposts’ at the turn of the year into 2023.
Rules are constantly manipulated by the party in power to ‘produce the results’ they want.
cc27 wrote: ↑February 3rd, 2023, 9:40 am
I think the report is pure BS. BUT The Feds have been spending like drunken sailors so maybe this is a return on “investment.”
If you dig you will likely find ‘they moved the goalposts’ at the turn of the year into 2023.
Rules are constantly manipulated by the party in power to ‘produce the results’ they want.
Watch for them to adjust the number down to 10k like last time.
Docbroke wrote: ↑February 3rd, 2023, 5:59 pm
Nobody wanted that hot report. Nobody.
Your sarcasm is tiresome.
There's obviously going to be jobs added after Covid and several of those are people getting part time jobs. Covid loans are running out and people have to go back to work.
An economy is shut down for a pandemic and when the pandemic is deemed over, the jobs return. It isn't rocket science.
Not sure what you mean. The hot job report will potentially move the fed to further interest rate hikes. Wages and labor participation also increased while the UE rate dropped to a nearly historic low. A small good sign was underemployment ticked up.
The last time we had a 3.4% unemployment rate was 1969.
There was an average monthly jobs gain of 401,000 for 2022, a year that already had strong job growth as the economy continued to recover from the pandemic.
Further revisions by the Labor Department showed that the economy had added a half million more jobs in 2022 than had previously been recorded.
“Twelve million jobs added in the US in the past 24 months, with 5 million of those in the past 12 months. Yes, this is still mostly pandemic/recession recovery, but it’s an extremely rapid pace of growth even for a recovery,” --University of Central Arkansas economist Jeremy Horpedahl
blue wrote: ↑February 3rd, 2023, 6:25 pm
Your sarcasm is tiresome.
There's obviously going to be jobs added after Covid and several of those are people getting part time jobs. Covid loans are running out and people have to go back to work.
An economy is shut down for a pandemic and when the pandemic is deemed over, the jobs return. It isn't rocket science.
Everyone has been programmed to believd the news released by the governmdnt, like unemployment and gdp being extremely important.
Low unemployment is inherently good.and higher gdp thd same.
You are old enough that you should understabd that these are just independent indicators that explain more than the stochastic concept they are describing.
Vercingetorix wrote: ↑February 4th, 2023, 8:23 am
Hmm, did you have a greater explanation??
Everyone has been programmed to believd the news released by the governmdnt, like unemployment and gdp being extremely important.
Low unemployment is inherently good.and higher gdp thd same.
You are old enough that you should understabd that these are just independent indicators that explain more than the stochastic concept they are describing.
It’s amazing to see how much information you are able to glean from one emoji.
I think we need to realize that there is a difference between "jobs created" and people actually working. There are still millions of unfilled jobs. Everywhere I travel to there are restaurants that have reduce hours and limited menus because they can't find enough people willing to get off the government handouts and actually get a job.
posaune wrote: ↑February 4th, 2023, 9:39 am
I think we need to realize that there is a difference between "jobs created" and people actually working. There are still millions of unfilled jobs. Everywhere I travel to there are restaurants that have reduce hours and limited menus because they can't find enough people willing to get off the government handouts and actually get a job.
Indeed, try to get partisans to understabd that very low unemployment is a limiting factor in economic growth...like herding cats.
I tried to tell Trump fans the sane thing. Millions of unfilled jobs meabs ubrealized potential. Yet democrats nor Republicans want to engage in immigration reform or incetivizing childbearing.
cc27 wrote: ↑February 3rd, 2023, 9:40 am
I think the report is pure BS. BUT The Feds have been spending like drunken sailors so maybe this is a return on “investment.”
If you dig you will likely find ‘they moved the goalposts’ at the turn of the year into 2023.
Rules are constantly manipulated by the party in power to ‘produce the results’ they want.
