May jobs report out. 272K new jobs. 4.1% wage growth over the last year. Tough economy out there! https://www.bls.gov/news.release/pdf/empsit.pdf
The most significant data in the Jobs report is this: Full-time workers: -625K Part-time workers: +286K This tells us that people are getting jobs because they are having a hard time paying their bills, not because the economy is booming.
Interesting that the Household Survey claims we lost over 400,000 jobs. But looks like more of the same 'job gains'; mostly healthcare, government and part-time jobs. Markets are rebounding from early losses because they acknowledge underlying weaknesses in employment. Some seasonal adjustments are clearly at play here that will definitely get reversed in the next month or so. What's being ignored is that since 2019, 3 million foreign-born workers have gotten jobs while 1.4 million native-born workers are unemployed.
And yet, there was is a measure of people who are part-time for economic reasons. What happened to that metric? Also, what usually happens to part-time jobs in May?
You forgot to include leisure and hospitality, retail, professional, scientific, and technical services, and social assistance.
Nope. You just made that shit up. Its a by product of the continued aging of the workforce. Participation rate is all time high since the turn of the century in working ages, unemployment record lows. We have an aging issue not an employment issue.
The Biden administration did overstate 439,000 in 2023. They continue to do this monthly and recalculate quietly. If they gave us the real numbers upfront as best they could, then maybe the Fed would give us a rate drop. Who are these jobs going to? Are they all citizens of the USA? If not, how many Americans are on the sideline? The Heritage Foundation reports that there are 2 million fewer Americans working today than right before the pandemic. When I go to Chipotle, they have half the workers they did before the pandemic. Either the small business owner needs to cut costs due to the overwhelming inflation or there really is a shortage of workers. The economy is very good for the wealthy. Again, posters here never take into consideration the low and middle-wage earners who are struggling. You love boasting about a number that will shrink when quietly recalculated, shrink more from the glut of part-time work, and even more when it's not all American workers.
Inside The Most Ridiculous Jobs Report In Years | ZeroHedge Inside The Most Ridiculous Jobs Report In Years | ZeroHedge
Did you take those things into account 2016-2020? Or were you just like "best economy in history!" Like when are low earners not struggling in a capitalist consumer economy?
Don't you worry, buddy - Trump is going to bring around some more tax cuts for top brackets and corporations. Because he cares about the "low and middle-wage earners who are struggling." That's also why he worked so hard to bring them health care. And who knew health care was so complicated!
Exactly what policies do the GOP have to address inequity? This should be a hoot. Or more likely a dead silence.
You dont remember back in 2017 when 'low earners' were driving diamond plated BMWs in the greatest economy known to man?
Wait, your argument is that this is all intentional and run by the political administration and that the Fed hasn't figured this out, but you have? People who live in the US. No. False. There were 152,309,000 employed at the peak prior to the pandemic. There are currently 158,543,000 employed. All Employees, Total Nonfarm And the fact is that there is a shortage (as you allude to later), which means not many are sitting this out. There is a shortage of workers. A shortage of workers would benefit low and middle-wage earners. Especially this shortage, which is largely happening at the lower ends of the income scale. A shortage means higher pay.
Where are you getting this from? Also, even if true, not following your logic. 400K people switching from full time to part time isn't really a sign of people struggling, is it?
