August job numbers SUCK big time

[edthecynic]

Trump had the greatest US economy in history until the pandemic

Pure BULLSHIT!

 

[Quasar44]

edthecynic
The economy was superb until the China Kung flu and the dead corpse has only made it worse

 

[edthecynic]

Before COVID-19 our employment peaked at 158,732,000.
We now stand at 153,154,000.

But wasn't Tramp still president during covid? Why yes he was!
When he took office there were 152,150,000 employed and when he left there were 150,031,000 a LOSS of over 2 million jobs, there are now 153154,000 employed, a GAIN of over 3 million jobs. To the Right Tramp losing over 2 million jobs is the greatest economy in history, and Biden ADDING over 3 million jobs is the worst economy in history.

 

[edthecynic]

Trump had the lowest unemployment in history

LIAR!

 

[edthecynic]

edthecynic
The economy was superb until the China Kung flu and the dead corpse has only made it worse

BULLSHIT!

 

[edthecynic]

Xiden created very few jobs in most months

LIAR!
Biden is averaging 586,000 new jobs per month, Tramp was nowhere near that number even before the Trump Pandemic hit.

 

[Quasar44]

Xiden has produced terrible job growth and high unemployment
Xiden is a spineless loser

 

[Quasar44]

And the real inflation will lead us to a real upcoming depression

 

[edthecynic]

Xiden has produced terrible job growth and high unemployment

LIAR!
Biden's jobs numbers have INCREASED by 3 million jobs and unemployment has DECLINED from 10,130,000 when Tramp left to 8,384,000 now.

 

[Quasar44]

edthecynic
You’re a complete ignoramus and peon
The economy is terrible
The Afghan withdrawal was 10 times worse than Nam
Millions of diseased killers have flooded in
The USA Has zero credibility in the world
The deficit is obliterated
Inflation is exploding to 1970s numbers

 

[rightwinger]

Trump had the greatest US economy in history until the pandemic

Every President had a great economy, except for the months he didn’t

 

[edthecynic]

edthecynic
You’re a complete ignoramus and peon
The economy is terrible
The Afghan withdrawal was 10 times worse than Nam
Millions of diseased killers have flooded in
The USA Has zero credibility in the world
The deficit is obliterated
Inflation is exploding to 1970s numbers

The Gish Gallop!

 

[my2¢]

Money printing has failed this time, just as it always has....Now you're fool enough to call for more of it.

My desire is to see unemployment down so the Fed can switch gears and eye inflation. Failure? Let's face reality. When monthly job growth is averaging 586,000 for the year (765,667 in last 3 months) yet unemployment stands at 5.2% the only purpose of changing course would be to induce a recession. I guess that would please you to no end.

 

[Oddball]

My desire is to see unemployment down so the Fed can switch gears and eye inflation. Failure? Let's face reality. When monthly job growth is averaging 586,000 for the year (765,667 in last 3 months) yet unemployment stands at 5.2% the only purpose of changing course would be to induce a recession. I guess that would please you to no end.

View attachment 534965
View attachment 534971​

So the best way to help people get working is to erode the value of what little money they do have in their pockets!

How did I miss that obvious solution?

 

[my2¢]

So the best way to help people get working is to erode the value of what little money they do have in their pockets!

How did I miss that obvious solution?

Seems obvious to me, I was raised to get off my butt and not expect things to be handed to me.

The need for money was a major reason that induced me to find a job. I would think the more money a person needs the harder they would look. And when I first started looking and began my first "career job", the inflation rate for the year was 5.6%.

Two years later the inflation rate sat at 7.59%. After a nice raise I quit my job and found one paying even more.

Likewise 3 years later when the annual rate of inflation was 10.32%.

I was pretty happy with the 3rd job and stuck around 35 years until my retirement. Stopped looking for job, but for the first 5 or so years just prior to annual merit raises, I would sign up for an afternoon off and then come in that morning dressed sharply just to give them a notion I was investigating other alternatives.

With our pensions and Social Security we haven't found need to touch our retirement savings. However, if I hadn't been so fortunate I'd be out there working and not counting on the government if that's what it took to make ends meet. As i said, it's just the way I was raised.

 

[Mac1958]

So far the market is taking it better than I would expect.

There are (almost) always two sides to analysis of economic data.

In this specific context -- and I'm not arguing this, but it's a reasonable point -- it could be said that job growth that is "too fast" can also lead to economic growth and inflation which is too far above a manageable point, which is the other primary worry right now. It could be argued that there is a "goldilocks" zone in which job and economic growth increase moderately and keep inflation beneath a destructive level. Markets know that, at least in the mid term and long term. Day to day, minute to minute, markets are little more than drama queens.

So, as always, we'll see. No final conclusions can be drawn in this context.

 

[frigidweirdo]

Total nonfarm payroll employment rose by 235,000 in August

Employment Situation Summary - 2024 Q01 Results

www.bls.gov

For sure the Fed won't be addressing inflation any time soon based on this pathetic job growth.
So far the market is taking it better than I would expect.

How does that differ from Augusts in other years. Some months just suck every year.

 

[my2¢]

How does that differ from Augusts in other years. Some months just suck every year.

I was wondering about that too since August is a popular vacation month and I suppose it isn't the best hiring month, except perhaps for those in education. But the thought almost instantly vanished. During the pandemic over this past 1+ years, in my view any comparison to normal is worthless.

 

[frigidweirdo]

I was wondering about that too since August is a popular vacation month and I suppose it isn't the best hiring month, except perhaps for those in education. But the thought almost instantly vanished. During the pandemic over this past 1+ years, in my view any comparison to normal is worthless.

So, we just decide something is so based on uneducated guesses then?

 

[toobfreak]

My unemployment check hasn't arrived yet

Joe gave it to the Taliban.