Another strong jobs report: US adds another 850,000 jobs in June (wages, regular)

[TheseGoTo11]

Originally Posted by TMSRetired

True data nerds go right to the BLS report, read the data over themselves and draw their own conclusions.


https://www.bls.gov/news.release/pdf/empsit.pdf
https://www.bls.gov/news.release/empsit.nr0.htm

Never a reason to use any source. Media just spins the same numbers you can read in the PRs.

Basically a lot of hiring in restaurant, retail, leisure, hospitality etc coming out of the very ill conceived lockdowns.

Bond market seeing it as a weak report and 10 year yields are down, but I think they're overdoing it. It's time for the Fed to taper.

[tickyul]

OK then, time to turn off the MBS buying-spree.

Oh yeah, not gunna happen.

[swagger]

Originally Posted by Corascant

Well given that we've had more than $5 trillion of government stimulus (and $5 trillion of new debt) since mid 2020 why would we expect anything else?

Considering this, the numbers should be exploding. 850k seems anemic.

[YourWakeUpCall]

Originally Posted by ansible90

It's a shame. It would be nice to have just a moment of feeling good for a change. But no, the Debbie Downers just have to jump in and ruin it.

It's good news. Biden had nothing to do with it. Try to keep up.

[beachmouse]

Originally Posted by TMSRetired

If you recall they went around to nursing homes first. Those people are not going anywhere.

The spry old people in Florida were camping out in parking lots to get early crack at vaccines starting in early January.

[lovecrowds]

Wow, what an incredible economy under Biden. A majority of the job growth is based on people going to reopened restaurants eating thousands of calories and getting sick and utilizing health care services and government employment.

A vast majority of the job growth is in restaurants, hotels, government and health care because of the amount of sickness in this country.

Despite, a massive housing shortage construction jobs have been falling like a rock the last two months and were down another 7,000

Manufacturing for less than 2% of the job growth, up less than 15,000

Motor vehicle manufacture employment was down over 12,000 because of the the Biden economy supply chain shortages.

https://www.bls.gov/news.release/empsit.b.htm

[lovecrowds]

Originally Posted by swagger

Considering this, the numbers should be exploding. 850k seems anemic.

Out of the 850,000 jobs added..

Leisure and Hospitality/Retail up 410,000
Government up 188,000
Health Care and Education up 59,000

Manfacturing up 15,000
Construction down 7,000


https://www.bls.gov/news.release/empsit.b.htm

[atltechdude]

You just now figured out that the US is a mostly service based economy? Congrats.

[andywire]

"Build back better"... LOL!

Originally Posted by atltechdude

You just now figured out that the US is a mostly service based economy? Congrats.

So why do we need all those illegals again???

[beachmouse]

Originally Posted by lovecrowds

Motor vehicle manufacture employment was down over 12,000 because of the the Biden economy supply chain shortages.

https://www.bls.gov/news.release/empsit.b.htm

Biden told auto makers last summer to cut their chip orders? Didn't realize that.