US adds 272K jobs and Wages Grow Faster than Inflation

4.2 million people worked part-time because their employers cut their hours or they could find only part-time work.
The figure is up from late 2022 but still historically low. It’s expected to rise this year as the economy slows and companies need fewer full-time workers.

 

You are making that up. Unemployment is low. Full time job openings are high. You're just sad. It’s ok. Maybe the economy will tank and you can be happy again.

 

Is this not the case ?

The Average American Family Has Lost $7K in Spending Power, Thanks to Inflation

 

Pretty sure that Tangerine Man couldn't fix a sandwich...

 

How do you know that?

 

https://www.wsj.com/economy/consume...zqhmdja90rb0rky&reflink=article_copyURL_share

The U.S. economy keeps throwing up surprises, making it difficult to get a read on what’s happening for everyone from ordinary investors to the Federal Reserve. A growing disconnect between the fortunes of upper- and lower-income Americans could account for some of the crossed signals.

In the latest shocker, the Labor Department reported on Friday that the U.S. added 272,000 jobs in May, up from 165,000 in April and much higher than economists’ expectations. The strong reading is especially perplexing because it comes on the heels of a string of weak economic reports in recent weeks, including soft income and spending data for the month of April and a lower-than-expected reading on manufacturing sentiment in May.

It isn’t just government reports: Companies have been warning in recent weeks that consumers are pulling back. To cite one example among many, Campbell Soup, owner of Pepperidge Farm and other snack brands, just days ago lowered its sales forecast because it said shoppers are increasingly economizing on snack purchases and switching to private label alternatives.

...

One possible reason for the mix of caution and abandon is that people lower on the income ladder who spend a bigger share of their income on necessities are feeling pinched and less confident about their job prospects. Meanwhile, wealthier households are still spending.

 

I am going to disagree with this article. Lower incomes always spend all of their money so there is no ability to "cut back" on their spending. As long as they are employed they are spending - they may be dissatisfied with brand prices and moving to private brands, but they wouldn't cut back overall spending. Just a thought.

 

Job growth was overestimated by more than 770,000 last year. Put differently, about 1 in 4 jobs that were supposedly added last year never existed. That’s like eliminating all of the jobs gained in three whole months of 2023.

Add to that people are getting 2nd and 3rd jobs.

Biden’s job-growth disappearing act

 

Laughing at those here saying that Biden is inflating the numbers. Why? So the feds can NOT lower interest rates due to the strong jobs number? Sheesh

 

Job Openings vs Unemployment Looks Very Much Like a Recession Has Begun

Job Openings vs Unemployment Looks Very Much Like a Recession Has Begun – MishTalk

For renters their own personal CPI is rising faster than wages. Their votes may decide the election

 

I would add that the article is close to a year old and it's based on data from December 2022. In other words it completely ignores the last 18 months or so in which real income has exceeded the rate of inflation.
Taking note of both the date and the source.

 

Because some people love to think America is failing.

 

Sounds a lot like the predictions of a recession that have been floated for last several years.
Economists Predicted a Recession. So Far They’ve Been Wrong.
One of the reasons why rents have been increasing at a rate greater than the CPI in general.
Rent Price Fixing by Algorithm is Still Price Fixing
I suspect that in the end the issue of whether determining rents by algorithm is price fixing in violation of antitrust laws may end up before the Supreme Court although if Trump wins the election his DOJ and his FTC chairman will drop the pending litigation.

 

Until a pub is in the White House, then every thing is great and if bad news comes out it is fake!

 

And with the same numbers, thfsg will perform a hard flip to it's the worst economy ever...wash, rinse and repeat.

 

I remember certain folks almost overnight deciding that the economy, which they claimed was a disaster under Obama, was suddenly great under Trump. I don't recall any of the liberal posters claiming that the economy was a disaster under Trump (until COVID).

 

Back in 2016 the economic stats indicating that economy was doing well when Obama was in the White House were fake. Suddenly they became accurate after Trump took office in 2017.
From March 2017.
19 times Trump called jobs numbers ‘fake’ before they made him look good