And one political party (hint it's not the Dems) is largely responsible by the growth in the wealth gap.
Sure the country has become a hellscape of neoliberalism in the preceeding years and democracy itself is in crisis, but at least the human suffering helped the economy
No but they did revise August's numbers to show there were 40k more jobs added than initially reported
No. Revisions are usually for the previous two months (e.g. Aug & Jul). Though sometimes even more months will be revised after receiving additional data.
Inside Today's Jobs Report: 885,000 Full-Time Jobs Lost, 1.127 Million Part-Time Jobs Added, Record Multiple Jobholders | ZeroHedge
Article makes the point that 2% inflation is considered perfect by the FED ... apparently 3%, were we've basically been for 18 months, is full on panic, burn down the economy, intentionally put people out of work, cause a recession mode...
Yeah, the difference between a thing costing 30 cents more than it did a year ago instead of just 20 cents more is huge. We need to create a lot of economic pain to correct it.
CPI is close to 3.7-4.3% for the year, its up 0.6% in August, with food being the biggest culprit. Inflation is still above 3%, which with more folks working will increase spending, causing further inflation in the overall economy. Mortgages are now above 7.5% for a 30year, and will likely rise. The middle and lower classes are absolutely getting killed. Here's why the shockingly good jobs report is going to cost you | CNN Business
Government jobs were more than Business Services, Retail, Manufacturing and Construction COMBINED. And when you look under the hood further... 151,000 of those jobs 'created' are part-time Only 22,000 are full-time job holders 123,000 of those totaled have multiple jobs
I don’t think inflation has consistently been 3% for 18 months. Years ago the fed target for inflation was a 2% cap, but then they changed it to 2% average. The thing people fail to realize is once inflation breaks out, it isn’t necessarily easy to keep it in check. It is harder to have consistent 3-4% inflation than 1.0-2.0%. With 3.0+, you can get data points that are 5-6, and then you are worried that a trend may be starting. If you go back to the 70s there were a lot of ups and downs - inflation got high, then trended down, but then went back up again. That experience is the driver of the Feds determination to beat it back down, permanently.
Let’s really look under the hood. Full time employment is at a historical high. Part time employment is lower than under Trump pre pandemic.
