254,000 Jobs Added in September

Yeah but all those jobs went to murderous Haitians!!

 

Jobs vs Employment

From Sept 2020 through February 2022 nonfarm payroll job gains and full time employment changes correlated with each other

Employment and jobs started to diverge in March 2022.

Job Stats vs One Year Ago

Nonfarm Payrolls: +2,438,00

Employment: +314,00

Full Time Employment: -485,000

The biggest increase in jobs in September came from Health Services and Government needed to handle the surge of immigrants from Haiti and
elsewhere and also from the Leisure and Hospitality sector. Was the increase in leisure and hospitality Jobs related to the influx of immigrants? Don't know.

Also of note: Hours worked per week is down by 0.1 hours (not as trivial as you might think given the tens of millions in the workforce.

Above analys and data comes from Mike Shedlock, not me. But it makes sense.

My only question is how reliable the employment data really is.

 

Ummm... let's say yes.

 

It's amazes me how MAGA roots against America at every turn. Pathetic.

 

Breitbart's John Carney is a weekly regular economist on Fox Business. He posted this article on Monday, 10/7:

Breitbart Business Digest: The Fed's 50 Basis Point Cut Was a Mistake Driven by Political Pressure

I could have written this article for last Friday, 10/4. I'm thinking John reads this site.

Last Friday’s jobs report laid bare the misjudgment. With 254,000 new jobs and unemployment falling to 4.1 percent, the labor market is gaining strength, not faltering. Wages are up four percent year-over-year, further proof that the Fed’s justification for cutting rates was flimsy at best.

But this decision wasn’t made in isolation. It was the culmination of a political push from Democrats eager to secure a quick economic boost before the upcoming election and Wall Street’s clamoring for cuts. Top Democrats, including Senators Elizabeth Warren, Sheldon Whitehouse, and John Hickenlooper, called for an even more aggressive 75-basis-point cut, claiming that without swift action, the economy would face dire consequences. Their letter to Fed Chairman Jerome Powell pressed for “front-loaded” rate cuts to stave off what they said was a looming labor market crisis, despite mounting evidence that the labor market was stronger than they suggested.

This is political opportunism at its finest. While Democrats cheered for more rate cuts, claiming they were needed to prevent a labor market collapse, Friday’s data showed the opposite: wage growth is steady, unemployment is falling, and the economy is expanding. It was a blatant misreading of the economic moment, but one that conveniently fit a political agenda. The Harris campaign, no doubt watching closely, was all too eager to position this as proof of their economic stewardship heading into the election. After all, they desperately needed a quick economic boost to distract from the underlying inflationary risks that remain unresolved.

If inflation returns, it will be America’s working class that suffers. They’ve already waited too long for wages to catch up to the cost of living, and now they face the possibility of losing those gains to rising prices. The Democrats wanted more rate cuts to boost their electoral prospects, and the Fed delivered. But it’s the workers who will pay the price when inflationary pressures resurface.

 

LOL! The Harris/Biden administration gave us the worst inflation since the early 1980s, and we're not supposed to talk about. (shaking head). The worst part is inflation hasn't been tamed to desired levels and the democrats have for a second time interfered with the work of the Federal Reserve, the first being 9 months of delay due to claims of transitory inflation.

The American people can't afford 4 more years of this bullshit from you and your party.

 

COVID gave us the worst inflation in decades. Unless you want to blame 40 year record inflation that occurred in 95% of the world's countries in Biden/Harris.

And during this worst inflation in decades under Biden, households lost on average $500 of spending power. Monies families have made up due to average wage increases. Trump's tariff plan? Lowest estimate I've seen is it will cost that same family $1,700, and as high as $4,000. And this doesn't include the inflation from Trump's deportation plan which will cause massive labor shortages, or the desire to devalue the dollar to equalize trade deficits. Both are inflationary too.

 

Democrats always want more but they never say how much.

How many people do we need in this country before we start deporting people to protect the environment?

The great strategic thinker Greg Copley says the US needs to bring its population below 300 million. AzCatFan has not shown any inclination to not double the US population to 700 million plus

 

I've asked you before but no answer so I'll ask again. Do you think Trump's proposed tariffs of 20% on all imports would increase inflation?

 

No and I don't want to see anything from your woketard left-wing dumbass economists. I'm not interested into getting into a battle of economists with differing views.

 

You obviously can't take opinions differing from yours. I intend to turn this little pond into a fair site for conservatives. Since you don't like it, you can leave, just one less woketard liberal.

 

It's not 'woketard left-wing dumbass economists', it's just basic economics. Do you not understand basic economics?

 

If someone chooses to remain uneducated and ignorant, there isn't much we can do about it. But for those who want to understand why Trump's policies will be highly inflationary, here's a good start.

 

Clearly, more than you and your woketard buddies do.

What is funny is you don't even know Harris/Biden continued with Trump tariffs.

 

Also, what is funny is the article I posted is from economist John Carney. You didn't bother to comment on it so I presume you don't have the ability to be an independent thinker.