Unemployment falls back to its lowest level in decades…3.5%

Or McD's can invest in virtual cashiers and pay them less.

Virtual cashiers are now in B.C. What does this mean for jobs in our province? | CBC News

“It’s In-Your-Face Capitalism.” Low-Paid ‘Virtual Cashiers’ Provoke Outrage among Labor Activists | Patrick Carroll


WFH employees are going to find companies will eventually turn to offshoring to save money when the job can be done remotely inside of in the office.

 

Odds are, THFSG will be singing a different tune after November. Wash, rinse, repeat.

 

That's been going on already for decades.

 

I’ll take participation rate lowered and an influx of older men getting jobs for 1000.

You only want to read the headline but refuse to read what the markets read.

Also there is not a single recession we have had that labor market didn’t collapse in a recession that was delayed to every other indicator.

 

It would sure be nice if people who post ridiculous threads and their echo chambers that cheer them on were better informed. The $1200 was only the first payment. It was followed by subsequent additional payments of $600 and $1400. Additionally, people received $1400 each for their qualified dependents and a prepayment of almost $150/month per child for the child tax credit.

Now I'm just an old engineer but that sure looks, smells, and feels like a lot of government liquidity hand out to me. But you all go on with your circle jerk.

Stimulus Checks for People with Disabilities | Financial Resilience Center

 

Then why hasn’t the GDP grown? If there was more money there’d be… more money. The fact is production dropped, prices rose, the GDP spend is exactly at pre-pandemic growth levels.

There isn’t too much money. There’s too little production availability. Those payments replaced shortfalls in earnings.

Last year on this graph is 2021. 2022 will be flat.

 

which is why kiosks are everywhere now.

 

How can there be production when millions of people could take a year off from work?

We couldn’t hire people last year if we were had doubled wages. It has gotten progressively better this year each month. Coincidence, I think not. Government handouts stopped, all the shit you need to buy to live on went up. Pretty simple if you stop looking only at modeled statistics and open your eyes to reality and common sense.

It’s pretty apparent to me that you do not cross paths with working class people very often.

 

Still too many signs out there that inflation needs to be tamed. Wages growth and the tight labor market are inflation fuelers. Add to that the muted increases you referenced the last two months are largely due to energy prices cooling significantly. As we can see with the OPEC decision last week, that relief was likely temporary. The Fed is more correct in making sure this inflation is gone for good than they are providing a temporary boost to the market that could and likely would simply be followed with more inflation. Endemic inflation is a 10 times greater risk to the Fed than 7% unemployment, for example. They'd take that unemployment number all day if it meant inflation is gone.

 

It fell because of a decline in labor participation, which baffles me with the cost of living going up daily.

 

The Fed doesn’t want a recession any more than you “want” to punish your children when they do stupid. Shutting down the economy and then immediately flooding it with liquidity is stupid. No way around it. Powell should have started raising rates back in 2020

 

So you think that people are still sitting on that? Talk about an echo chamber.

 

Once again, letting your partisan rancor get in the way of logic. I didn’t say people were still sitting on it but they damn sure were. Family of four got $9,200 tax free, so sure many spent it and others used it and the $600/week and $300/week unemployment supplement and left the workforce. So let’s see, $9,200 tax free. $150/month per child. Yes, a lot of people spent that money on “stuff”. Others took it along with the additional unemployment, and child care savings and went to a one income family. Do the math on all that one and you will see that the federal government paid people up to $19/hr to not work. That money plus dropping child care expenses is the equivalent of almost $50K/year from mid 2020 until late last year. Do you think people weren’t figuring that one out? Now I’m not against more parents staying home with their kids. That is actually the only good thing that came out of our foolish reaponse to Covid. I just wish that the government would have created a better economic environment for it to happen organically rather than by gaming the system.

Why don’t you just retract your initial sarcastic, and uninformed post and we can move on to the real issues of how much pain Bidenomics is going to cause for 10’s of millions of people over the next decade?

 

Oh, I agree the Fed will continue to raise rates and pound the middle class and low wage earners. Credit card debt is through the roof. People are suffering and the Fed is doing their best to make it worse.

 

Still clueless I see. The bulk of people that got money live paycheck to paycheck and the tax credit money was simply an “advance” on what they would have gotten regardless. That money is LONG GONE into the economy. The fact that you think people are just sitting at home watching the Price is Right is laughable.

At least you didn’t throw MMT into your response, so there’s that.

 

YOU calling ME clueless WRT economics and finance is laughable.
Go ahead and believe what you want.

If you are on the FRS defined benefit plan you will find out how painful inflation is when your COLAs don’t keep pace with inflation. I wish you the best of luck, but your $1,200 post was ridiculous. How much credit would you give one of your student if their answers was only 37.5% of the correct answer?

 

Again, the fact that you think stimulus checks and an advance on the child credit is keeping folks from working you are indeed clueless.

As far as my FRS benefits, why would that be different from my salary. Neither have kept pace with inflation for the last ten years, at least.