Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
[quote=HowardRoarke;66032151]191 jobs added in the U.S. since April, according to the Household Survey.
350,000 jobs lost last month.
Record number of muliple job holders.
Here's a better analysis of the Jobs Report. In short, it will have a positive effect on inflation and interest rates. BTW, the unemployment rate is near a record low of 3.9%.
• “I might have liked a somewhat stronger report, but if you had asked the Fed for dream numbers, these are them. Employment growth is moderating to sustainable levels, labor supply remains robust, and wage growth is moderating to rates consistent with its inflation target.” — Justin Wolfers, University of Michigan economics professor, in a tweet
Last edited by Lizap; 11-04-2023 at 08:57 PM..
Reason: Deleted prior poster's political comments
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,690 posts, read 57,994,855 times
Reputation: 46166
[quote=markg91359;66032222]
Quote:
Originally Posted by HowardRoarke
...
Here's a better analysis of the Jobs Report. In short, it will have a positive effect on inflation and interest rates. BTW, the unemployment rate is near a record low of 3.9%.
Still tough (or impossible) to find someone to work. Especially if they have to get their hands dirty.
Reading tape measures, working in fractions, doing trig (laying out building framing and steps...) - not gonna find them.
Older people still know how to do math and show up and put in a day's work.
I'm contributing to the 'unemployment', reducing workforce because not one wants to work. (turning customers and projects away). My son in High tech innovation has 60 employees who need to collaborate AND work together for very tight delivery of systems ad products. Not happening anymore, Pay me to stay home!
They will get their wish to stay home, but the pay is gonna stop (missed deliveries).
Employment rate is a terrible alarm for this economy given all the illegals streaming into the nation, killer inflation, and a mounting debt burden. The cost to service the debt along is going to hamper the feds soon.
The nation’s employers scaled back their hiring in October, adding a modest but still decent 150,000 jobs, a sign that the labor market remains resilient despite economic uncertainties and high interest rates that have made borrowing much costlier for companies and consumers.
Last month’s job growth, though down sharply from a robust 297,000 gain in September, was solid enough to suggest that many companies still want to hire and that the economy remains sturdy.
The United Auto Workers’ strikes against Detroit’s automakers likely shrank October’s job gain by at least 30,000, economists say...
The unemployment rate rose from 3.8% to 3.9% in October...
..The U.S. job market has remained on firm footing despite those rate hikes and has helped fuel consumer spending, the primary driver of the economy. Employers have now added a healthy 225,000 jobs a month over the past three months.
The number of people in the labor force – those who either have a job or are looking for one — fell by 201,000 in October, first drop since April. That may be disappointing news for the Fed. Over the past year, more than 3 million people have entered the workforce, making it easier for companies to find workers...
And companies are still looking to hire. On Wednesday, the Labor Department reported that employers posted 9.6 million job openings in September, up slightly from August...
Last edited by Lizap; 11-04-2023 at 08:58 PM..
Reason: Deleted prior poster's political comments
Employment rate is a terrible alarm for this economy given all the illegals streaming into the nation, killer inflation, and a mounting debt burden. The cost to service the debt along is going to hamper the feds soon.
You think a 3.9% unemployment rate is a "terrible alarm" for this country? Really?
I wouldn't celebrate too much. U3 is a lagging indicator and the trend is towards lower job creation.
jack bowers from fidelity insight said it best
A textbook explanation be rising productivity, which has climbed to 3.5% at the end of the second quarter — a big increase over the 1.4% rate measured from the beginning of the 2008 Financial Crisis to
just before the pandemic hit in late 2019.
Robust productivity occurs when corporations are
making big investments to deal with labor shortages and/ or surging wage costs. That’s clearly the case today, as capital expenditures are up 28% relative to pre-pandemic levels. Heavy spending and high levels of productivity is likely a new normal as businesses make big investments in Artificial Intelligence (AI) and realize the benefits.
A textbook explanation be rising productivity, which has climbed to 3.5% at the end of the second quarter — a big increase over the 1.4% rate measured from the beginning of the 2008 Financial Crisis to
just before the pandemic hit in late 2019.
Robust productivity occurs when corporations are
making big investments to deal with labor shortages and/ or surging wage costs. That’s clearly the case today, as capital expenditures are up 28% relative to pre-pandemic levels. Heavy spending and high levels of productivity is likely a new normal as businesses make big investments in Artificial Intelligence (AI) and realize the benefits.
Great post.
Schwab sent out thousands of pink slips last week.
Some of the bigger banks are quiet firing and/or enforcing soft and hard hiring freezes.
A niece works for a Vault ranked law firm in NYC her firm has pared hiring and offered early exit deals to a number of mid and later career types over last few months.
Two weeks ago a friend literally out of nowhere was offered an early retirement package - he's 61.5yo FWIIW - the details don't matter but the deal was way too good to pass up.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
