Biden's Fault: US loses over 600,000 job openings in June as employers stop filling open positions

[JGalt]

Recession happen after periods of growth. It's like natural.

Boom and bust, when the rich win and the poor lose every time. Trump was a massive part of that.

The only ones making out under Biden are those in the upper income bracket. The average middle-class family is about $6,000 poorer, thanks to his horrible economic policies.

And there are big tax increases coming down the pipes for the middle class.

 

[frigidweirdo]

STFU you commie asshat. You ain't worth the powder and lead to kill you with. That's the only reason you're still alive.

Wow, two posts and two people being put on the ignore list.

Bye.

 

[lantern2814]

Two straight quarters of negative GDP. The LONG ACCEPTED standard for recession despite the usual morons here denying it. Employers aren’t going to hire with the threat of huge tax hikes coming (oh wait, Sinema still hasn’t signed onto this shit yet so there may be hope). Almost 60% of the new taxes in this bill would hit those making UNDER $200,000 a year. There’s your small businesses. Giveaways to the rich all over the place in that bill.

 

[1srelluc]

That 600K is just a little taste of what is coming as durable goods orders continue to fall.

 

[The Duke]

Wow, two posts and two people being put on the ignore list.

Bye.

I'm gonna say God Bless Sonny Fucking Clark and Go Fuck Yourself with a Cactus.
That will remove any doubts or ambiguities anybody had.

 

[ninja007]

build back better came from the wef.

 

[Dekster]

The hookers and blow stimulus?

Hey, there are streets other than Main and Wall that need some economic velocity too.

 

[Resnic]

When sales are down and prices are up people buy less, factoring in high interest rates and X amount of people will also buy less. That means some companies will see less profits and when a company sees less profit the first thing they cut is employees.

Anyone who knows anything about a business is employees are the single biggest expense. It isn't just wages. They have to pay into unemployment, 401k matches, pay into insurance and so on. Even down to resources employees cost the company like everytime a employee takes a shit toilet paper, water, hand soap, paper towels and such is used by that employee that adds up over time.

More and more companies are ultimately run by money men that only care about the bottom line and will cut every corner they can to cut costs. And employees are generally the first thing a company cuts back on.

 

[citygator]

10M openings and 5M people looking. Only a moron would think this is bad.

 

[The Duke]

10M openings and 5M people looking. Only a moron would think this is bad.

America is in the worst shape it's ever been in in my lifetime, fucktard. No, things are not just peachy keen, motherfucker.

 

[citygator]

America is in the worst shape it's ever been in in my lifetime, fucktard. No, things are not just peachy keen, motherfucker.

Pull yourself up you freeloader. You need government handouts from us democrats to be happy?

 

[Marener]

America is in the worst shape it's ever been in in my lifetime, fucktard. No, things are not just peachy keen, motherfucker.

What’s the unemployment rate?

 

[Flash]

Potatohead and the Democrat Congress have really fucked this country. It will get worse until we get rid of the Democrats. Everything they do is wrong for this country.

 

[Ralph Norton]

Just a little reminder: The Unemployment Rate in the United States averaged 5.75 percent from 1948 until 2022, reaching an all time high of 14.70 percent in April of 2020 and a record low of 2.50 percent in May of 1953.

"reaching an all time high of 14.70 percent in April of 2020"
Just a little reminder: DURING THE COVID SHUTDOWNS.

 

[The Duke]

What’s the unemployment rate?

Oh! Teh flashbacks to the Obama days when the "unemployment rate" is people getting unemployment compensation. When that dries up and they still aren't working, it all just goes away, huh?

That's not reality. Do you have a job? You fucking communist fucking turd?

In what meaningful way do you contribute to society, you commie piece of dogshit?

Are you ready to become Soylent Green? That would be your greatest achievement ever.

 

[Marener]

Oh! Teh flashbacks to the Obama days when the "unemployment rate" is people getting unemployment compensation. When that dries up and they still aren't working, it all just goes away, huh?

That's not reality. Do you have a job? You fucking communist fucking turd?

No, it’s a flashback to the Trump days when they said that the economy was the best we’ve ever had because of historically low unemployment rates.

We have the same unemployment rates now as under Trump yet that was the best economy and this is the worst.

 

[Chillicothe]

the xiden recession and inflation has businesses really tightening up. tough, dark times in america

America is in the worst shape it's ever been in in my lifetime, fucktard. No, things are not just peachy keen, motherfucker.

I feel bad....hell, the whole forum's constituency should feel bad..... that posters such as above, 'struth' & 'Duke'.....have failed to create an American life that insulates them and their family from the vicissitudes of a complicated many-faceted economy stretched across a huge American landscape. Gas at $3.85 has evidently wiped out their budgets. It is sad.

On the other hand, if they would get off their computers and chatroom-hobby and go look for honest work....well, life could get better.

Last week I drove to one of our properties.....a 40 mile trip on a state highway. I counted, at minimum, 14 "Hiring" signs. Two of them big roadside billboards offering $18.00 p.h. starting pay. Many others the sign-on-a-post of retailers. And that didn't count the several semi-trucks that had ..."We are hiring" messages displayed on the rear cargo doors.

I've lived through half a dozen 'recessions' in my long life. None of the previous ones had plentiful job openings with increasing wages; none of them had robust new housing starts or increasing values of existing residential housing. Interest rates on residential properties are below 6% for a 30yr mortgage; below 5% on a 15-year.

For context, when the bride and I moved from California to Chicago in the '80's we paid about 14.5% on a 30yr.
Also for context: Year over year inflation was 13.3% in 1979; 12.5% in 1980; 8.9% in 1981.
Fed Funds rate in 1980 = 18%. 2021 = .25%.

With no intention to be dismissive, I kinda sorta suspect we are hearing self-centered whining from snowflake boo-birds. The grievance-ridden ne'er-do-wells that are always out there on the fringes of America's productive local economies; and always complaining they ain't successful.

IMHO
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10M openings and 5M people looking. Only a moron would think this is bad.

Citygator makes the point more succinctly than I could.
A hat-tip!

 

[struth]

I feel bad....hell, the whole forum's constituency should feel bad..... that posters such as above, 'struth' & 'Duke'.....have failed to create an American life that insulates them and their family from the vicissitudes of a complicated many-faceted economy stretched across a huge American landscape. Gas at $3.85 has evidently wiped out their budgets. It is sad.

On the other hand, if they would get off their computers and chatroom-hobby and go look for honest work....well, life could get better.

Last week I drove to one of our properties.....a 40 mile trip on a state highway. I counted, at minimum, 14 "Hiring" signs. Two of them big roadside billboards offering $18.00 p.h. starting pay. Many others the sign-on-a-post of retailers. And that didn't count the several semi-trucks that had ..."We are hiring" messages displayed on the rear cargo doors.

I've lived through half a dozen 'recessions' in my long life. None of the previous ones had plentiful job openings with increasing wages; none of them had robust new housing starts or increasing values of existing residential housing. Interest rates on residential properties are below 6% for a 30yr mortgage; below 5% on a 15-year.

For context, when the bride and I moved from California to Chicago in the '80's we paid about 14.5% on a 30yr.
Also for context: Year over year inflation was 13.3% in 1979; 12.5% in 1980; 8.9% in 1981.
Fed Funds rate in 1980 = 18%. 2021 = .25%.

With no intention to be dismissive, I kinda sorta suspect we are hearing self-centered whining from snowflake boo-birds. The grievance-ridden ne'er-do-wells that are always out there on the fringes of America's productive local economies; and always complaining they ain't successful.

IMHO
--------------------------------------------------------------------------------------------------------------------------





Citygator makes the point more succinctly than I could.
A hat-tip!

I am sorry, i feel bad for american people, the country…i get that 9.1 percent inflation doesn’t matter to a cultist the puts his cult before the country, not really likely understands what it means since you likely don’t earn or work

 

[Toddsterpatriot]

The current unemployment rate is 3.6 percent.

That is the lowest unemployment rate achieved during the Trump administration.

Trump and all you dipshits couldn't stop crowing about it. Remember?

Sorry about that.

And Trump did all that without 9.1% inflation.

How much more do you think the Fed is going to have to hike to kill the Biden-flation?

 

[Toddsterpatriot]

Biden has to fight the inflation Trump's money printing created.

Biden is too stupid to unprint any Trump money.