UPS to slash 12,000 jobs in cost-saving move as workers ordered to be in office 5 days a week

Regarding job growth in Q4-23, I thought this was an interesting graph
83% of the growth was in the healthcare and government sectors. Does this nation really need even bigger government, more bureaucrats ?

 

Sounds like good well-paying jobs to me ... way to go Biden!!!!

 

You are aware that category "government jobs" includes state and local employees like teachers and law enforcement officers and at the federal level positions like Border Patrol and ICE agents, TSA agents, FAA aviation safety inspectors and air traffic controllers? You think that we need more or less people in those occupations?

 

Are you satisfied that government and healthcare employment growth being 488% greater than all other job growth ...... represents a healthy job market? If you are ..... okay.

 

This is for December 2023, note the categories for most of the government jobs, it's in local government, primarily in education.

 

Mastercard just beat profit expectations and then turned around and laid people off

 

The preliminary jobs report for January is out. 350,000 jobs created, which is well past expectations. That's the good news. The bad news means no Fed rate reduction in March, because the economy is doing so well. So, tell me again why a huge company right-sizing and laying off a small percentage of their work force is indicative of the economy as a whole when unemployment is remaining at 3.7% and new job creations are far outpacing expectations?

 

Thanks, I’m much more comfortable with the growth #s in the government classification and hope for continued high job growth in healthcare; just had a 3-week wait to see a sports medicine ortho MD.

What would really be interesting to see ….. but likely a time-consuming pain to compile is an analysis of the following for the last 20years:

1. Local education job growth to change in school aged population including teacher:student ratios,
2. Growth in law enforcement jobs compared to changes in total population with breakdown by age group,
3. Healthcare job growth compared to total population growth with a breakdown by age group.

Im sure there are others but it would be informative to see the job growth compared to what may represent the underlying drivers thereof. AFA federal government job growth, it would be great to know where that is happening.

 

The US economy added 353,000 jobs in January, starting off 2024 with a bang | CNN Business

“Most industries added jobs last month, with health care and social assistance posting the largest gains of 100,400, according to the BLS.“

“Also delivering a surprise were wage gains, which surged 0.6% for the month and 4.5% year-over-year.”

“This elevates the risk that nominal wage growth will not fall back to levels consistent with reaching the inflation target on a sustained basis, particularly as the labor force participation rate refuses to rise any further,” Brian Coulton, Fitch Ratings’ chief economist, wrote in a note issued Friday. “Wages growing at this rate, in a labor market this tight, is a problem for the Fed.”

 

I'd suggest that the wage growth and the sector issues you mentioned before is another sign of labor shortage. Those sectors are two of the higher paying sectors as a whole which could drive wage growth. Also, it is likely that an economy in a labor shortage will see those sectors add jobs early because of their relatively higher wages. Essentially, the argument is that lower wage sectors, such as hospitality, want employees, but they can't hire them because their wages don't match what is being offered in other sectors. Anecdotally, I certainly see signs on a lot of hospitality businesses looking for employees.

 

Silly. 90% of growth was in private sector. It was a broad growth. I retyped some of the report to avoid the 4 paragraph rule.

Total nonfarm payroll employment rose by 353,000

Professional and business services added 74,000 jobs

Professional, scientific, and technical services added 42,000 jobs.

“Employment in temporary help services changed little over the month (+4,000) but is down by 408,000 since March.”

Health care rose by 70,000
Ambulatory health care services (+33,000)
Hospitals (+20,000)
Nursing and residential care facilities (+17,000)

Retail trade employment increased by 45,000

General merchandise retailers added 24,000 jobs

Social assistance jobs rose by 30,000

“Employment in manufacturing up +23,000, with job gains in
chemical manufacturing (+7,000) and printing and related support activities
(+5,000).”

“Government employment continued to trend up in January (+36,000), federal government (+11,000), local government, (+19,000).”