U.S. economy added just 12,000 jobs in October

A nothing burger. Boeing, hurricanes and some companies not reporting for the month.

 

Unemployment is already historically low. We’ve got some slack to play with here.

 

I want to see how Trump spins this.

If he was telling the truth, he would say something like, "This is the worse jobs report since I was in office."

But knowing him, it will be something along the lines of, "It is the worst job report EVER!"

 

It's bad.

 

ADP jobs report, 233,000 private sector jobs added.
ADP Employment Reports

 

Mkt ok so far…..

 

"The one sector that is growing?" Literally every sector has added jobs over the last four years.

 

No, not concerned with that because it's not true. We've added millions of private sector jobs in the last few years.

 

Not concerned. Neither are the markets.

 

In that same period, going back to Oct 2020, private sector jobs have increased by 12.3%.

 

FYI, the UE rate in Nov, 1988 was 5.5%, the lowest of Reagan's 8 year run. Ahhh, myths.

 

Yeah, the UE rate in October 1984, right before Reagan won in a landslide, was 7.3%. And the inflation rate in October 1984 was 4.26%.

 

One burger that's hard to swallow is the continuation of jobs revised down every month (112,000 from the previous 2 months).
In addition to October’s nearly nonexistent change in employment growth, the gains for August were revised downward from
159,000 to 78,000 jobs, while September’s numbers were revised down from 254,000 to 223,000 jobs.
Not-to-mention the jobs created are simply more government and healthcare jobs (mostly government related) at the expense
of business & professional services.

And 5% of Americans are working 2 jobs...something I doubt they really want to except out of necessity.

 

Yeah, 5.1% multiple job holders is way outside the norm. As opposed to January 2020, when it was 5.2%, January 2017, when it was 5.0%...or just about any month during a growing economy.

 

I think we're close to or have already crossed a dangerous threshold with regards to the government's portion of the economy. Sadly, neither candidate plans to do anything about this or the fact that we spend more on interest than defense (or are very close to that number).

 

Impressive numbers.

 

Very concerned.
Govt growing is same as mold growing.
This is very bad.
Only a fool would cheer on government growth, more blood sucking leeches.

 

does this include the 84,000 new irs jobs that seem to be doing nothing.