Unemployment up to 4.1%

OMG!

 

More predictions of a dire recession. Where have I heard that before? Oh yea 2021, 2022, 2023, all year long in 2024. If you say it’s noon randomly all day long eventually you will be right must be the idea.

 

The unemployment rate increased not because the number of jobs in the economy declined but because the number of persons actively seeking employment exceeded the 206,000 new jobs in the economy. The civilian workforce in June 2024 was 168,009,000, million; in May it was 167,730,000.
From the linked article.

By the way the slight decline in the rate of job growth may not necessarily be negative. With the rate of job growth declining the Fed may be more likely to lower interest rates.

 

Lol! Unemployment rates were above 4% for every single year from 1970-2017. 4.1% is still full employment, it just means that the shortage is less severe than it was a few months ago.

 

It might not be slight. Don’t know if it is true but I read the 70K of the 206K were government jobs which will increase this year’s deficit by another couple of billion

 

Please explain to me how adding 65K local and state government employees is going to increase this year's federal deficit by another couple of billion.

 

Government jobs include jobs at all levels of government not new jobs at the Federal level and at the federal level include jobs like Border Patrol and ICE agents, TSA personnel and Park Service rangers. While I cannot speak for new jobs added in June, a majority of the total government jobs are at the state and local level rather than at the federal level. I assume the same proportions apply to the new jobs.
FYI:

Correction: See post #7

 

This report follows a familiar pattern once again.
Mostly all government and healthcare....with manufacturing jobs lost.
Jobs come in high for the headlines only to be revised downward later.
This time 111,000 jobs revised down from April (57k) and May (54k).
This report will most likely be revised downward as well.

 

The data from this month was 65K to state/local and 4.5K to federal, of which 400 were postal.

 

Dude's been cheering for a recession going on two years . . .

This was a gem . . .

Like Paul Revere . . . "recession is coming! recession is coming!"

Another hot take . . .

Get your hot recession tips right here folks!

 

Just curious, was Biden counted in the unemployment numbers or do they have to wait a little while longer to count him?

 

Biden will be unemployed after Jan 20, 2025 when President Harris takes office. But he won't count in the unemployment numbers because he won't be in the labor force. He'll be retired and retired people who aren't looking for a job aren't included in the labor force.

 

FIFY: Jan 20, 2029. He’ll only be 86.

 

It's difficult for him to keep both hands on the keyboard when he types these kind of posts.

 

OP's post are always good for a laugh. Their predictions help me with understanding the future as you can just assume the opposite of what OP is saying. You'd think they would give up at this point as it's quite embarrassing

 

Put a 1 in front of that 4% (14%) and that would seem more honest and accurate.

 

WINNER!!!!