Dayyyyum. 517,000 jobs created in January, crushing estimates, as unemployment rate hit 53-year low

[Harpy Eagle]

The world is overdue for a catastrophic event... it is inevitable. Madness is always lying in wait. We are in one of the longer periods of relative peace in a long while.

We just had one in 2020, how is it that we are overdue in 2023?

 

[SweetSue92]

This is bad news for whoever wants to defeat Joe Biden in 2024..
Without a bad economy, all they would have left is "Hunter Biden flashed his penis".
53 year low!

January Jobs Report: Pace of U.S. Hiring Surges Unexpectedly (Published 2023)

After several months of cooling, the economy added far more jobs than economists anticipated. The unemployment rate fell to its lowest level since 1969.

www.nytimes.com

Yes, no one hires during the holidays in Nov and Dec, so rises are "unexpected".

Sure. Now explain all the layoffs

 

[Harpy Eagle]

The numbers need auditing bad... No way to judge the economic strength by numbers without meaning behind them, otherwise there just numbers without meaning. They need to be categorized when spoken about for each sector effected, and the stats given whether positive or negative within the sector's.

I take it you have never actually looked at the report put out by BLS

Employment Situation Summary - 2024 Q01 Results

www.bls.gov

otal nonfarm payroll employment rose by 517,000 in January, compared with an average
monthly gain of 401,000 in 2022. Job growth was widespread in January, led by gains in
leisure and hospitality, professional and business services, and health care. Employment
also increased in government, partially reflecting the return of workers from a strike.
(See table B-1. See the note at the end of this new release and table A for more
information about the annual benchmark process.)

Leisure and hospitality added 128,000 jobs in January compared with an average of 89,000
jobs per month in 2022. Over the month, food services and drinking places added 99,000
jobs, while employment continued to trend up in accommodation (+15,000). Employment in
leisure and hospitality remains below its pre-pandemic February 2020 level by 495,000,
or 2.9 percent.

In January, employment in professional and business services rose by 82,000, led by gains
in professional, scientific, and technical services (+41,000). Job growth in professional
and business services averaged 63,000 per month in 2022.

Government employment increased by 74,000 in January. Employment in state government
education increased by 35,000, reflecting the return of university workers after a
strike.

Health care added 58,000 jobs in January. Job growth occurred in ambulatory health care
services (+30,000), nursing and residential care facilities (+17,000), and hospitals
(+11,000). In 2022, health care added an average of 47,000 jobs per month.

Employment in retail trade rose by 30,000 in January, following little net growth in
2022 (an average of +7,000 per month). In January, job gains in general merchandise
retailers (+16,000) and in furniture, home furnishings, electronics, and appliance
retailers (+7,000) were partially offset by a decline in health and personal care
retailers (-6,000).

Construction added 25,000 jobs in January, reflecting an employment gain in specialty
trade contractors (+22,000). Employment in the construction industry grew by an average
of 22,000 per month in 2022.

In January, transportation and warehousing added 23,000 jobs, the same as the industry's
average monthly gain in 2022. Over the month, employment in support activities for
transportation increased by 7,000.

Employment in social assistance increased by 21,000 in January, little different from
the 2022 average gain of 19,000 per month.

Manufacturing employment continued to trend up in January (+19,000). In 2022,
manufacturing added an average of 33,000 jobs per month.

Employment showed little change over the month in other major industries, including
mining, quarrying, and oil and gas extraction; wholesale trade; information;
financial activities; and other services.

 

[Harpy Eagle]

Yes, no one hires during the holidays in Nov and Dec, so rises are "unexpected".

Sure. Now explain all the layoffs

People hire in January for the holidays? Which holiday is that?

The layoffs are easy. Companies over hired during the pandemic and are now getting back to more realistic staffing

 

[westwall]

This is bad news for whoever wants to defeat Joe Biden in 2024..
Without a bad economy, all they would have left is "Hunter Biden flashed his penis".
53 year low!

January Jobs Report: Pace of U.S. Hiring Surges Unexpectedly (Published 2023)

After several months of cooling, the economy added far more jobs than economists anticipated. The unemployment rate fell to its lowest level since 1969.

www.nytimes.com

Just can't wait for the revised numbers. Remember when the last report saw 80% of the claimed job increase vanish?

I do.

 

[iamwhatiseem]

You spelled cataclysmic wrong

??
I said cacophony ...

 

[iamwhatiseem]

We just had one in 2020, how is it that we are overdue in 2023?

I am talking about war... largescale war.

 

[citygator]

Hypocrisy is no longer hidden. Trump keeps documents it is fine per the Trump clan, he was POTUS, the left goes nuts. Biden has documents the left says it is completely different then Trump (well, not really) and Biden was cooperative, he is fine with the left, the Trump cult goes nuts. Then Pence comes along...So no, there is no more rational thought in politics. Just divide up into clans and further your agenda, who cares about the country?

Bullshit lazy analysis. Nuance has meaning. It’s clear document handling in the government needs improvement by republicans and democrats but Pence/Biden didn’t knowingly hold documents from the US government. That is rational thought. To equate everything without nuance is as anti-intellectual as blind partisanship.

 

[mak2]

Bullshit lazy analysis. Nuance has meaning. It’s clear document handling in the government needs improvement by republicans and democrats but Pence/Biden didn’t knowingly hold documents from the US government. That is rational thought. To equate everything without nuance is as anti-intellectual as blind partisanship.

Having the documents is the same crime for all three. What happened after that with Trump is obviously different. Refusing to comply or return the documents further criminal activity. I have talked about this so many times on this forum I guess I should have explained more thoroughly.

 

[citygator]

Having the documents is the same crime for all three. What happened after that with Trump is obviously different. Refusing to comply or return the documents further criminal activity. I have talked about this so many times on this forum I guess I should have explained more thoroughly.

Well… that counts as nuance. I agree with your points.

 

[sealybobo]

Hypocrisy is no longer hidden. Trump keeps documents it is fine per the Trump clan, he was POTUS, the left goes nuts. Biden has documents the left says it is completely different then Trump (well, not really) and Biden was cooperative, he is fine with the left, the Trump cult goes nuts. Then Pence comes along...So no, there is no more rational thought in politics. Just divide up into clans and further your agenda, who cares about the country?

Biden cares about inflation, wages, the poor, middle class, affordable healthcare. Quit being a drama king and vote for the guy who's doing a good job and not dividing us. Disantis will divide too. I hope you guys pick Nicky Haley to run against Kamala.

 

[sealybobo]

Biden cares about inflation, wages, the poor, middle class, affordable healthcare. Quit being a drama king and vote for the guy who's doing a good job and not dividing us. Disantis will divide too. I hope you guys pick Nicky Haley to run against Kamala.

I heard 41% say they are worse off since Biden became President. But they don't like the Republicans any better. 65% reject Republicans approach to hold the debt ceiling hostage.

 

[citygator]

The comparative number 3.4% unemployment is a really low number whether you like the count of the number of jobs added from the low or not. There are millions more jobs and employed Americans than pre-pandemic. It's a testament to our economy that it recovered to greater heights than the economy Trump had going into the pandemic.

Currently we have higher GDP, lower unemployment, more net jobs, more people employed, higher stock market even with the pull back, higher home equities, record oil exports, more monthly oil production of any president. The only thing to complain about was the 18 months of inflation that moderated 6 months ago to 2.4% when the supply chain righted itself.

 

[Faun]

I have what I said earlier… I believe the system doesn’t accurately account for the truly important metrics. You can choose to agree or disagree.

I agree with things that are proven. I dismiss unproven opinions.

 

[Faun]

If the inflation rate was at 2% or there about, this would be an excellent number.
That's not the case, and that's a number the feds will use to keep raising the rates.
The economy is going to have to slow down to bring inflation down, and that will mean
the job numbers aren't blazing away. It's going to have to hurt before things get back
in line with the economy.

False. It's still an excellent number. That doesn't change because other economic data is bad.

 

[Faun]

THE RATE of inflation has been falling....It's still in the 10% neighborhood, fool.

A pity you have to lie to keep your delusions alive.

 

[Meister]

False. It's still an excellent number. That doesn't change because other economic data is bad.

False what? The number would be excellent if the inflation was at 2%.
But, next time take the context of the entire post of mine and argue that, will ya?
sheesh

 

[Faun]

False what? The number would be excellent if the inflation was at 2%.
But, next time take the context of the entire post of mine and argue that, will ya?
sheesh

Because adding half a million jobs in a single month is excellent. It's excellent if inflation is 2%. It's excellent if inflation is 6.5%. It's still half a million people getting a job they didn't have a month ago.

 

[Meister]

Because adding half a million jobs in a single month is excellent. It's excellent if inflation is 2%. It's excellent if inflation is 6.5%. It's still half a million people getting a job they didn't have a month ago.

Dude, show me where I disparaged the employment numbers.
And you still haven't addressed my entire post, maybe you don't understand, I don't know.
Those numbers will keep the feds raising the lending rates until they cool. They're trying to bring inflation
down to the 2-2 1/2% rate.

 

[0311]

This is bad news for whoever wants to defeat Joe Biden in 2024..
Without a bad economy, all they would have left is "Hunter Biden flashed his penis".
53 year low!

January Jobs Report: Pace of U.S. Hiring Surges Unexpectedly (Published 2023)

After several months of cooling, the economy added far more jobs than economists anticipated. The unemployment rate fell to its lowest level since 1969.

www.nytimes.com

Remember Cons, the Traitor lost over Three Million (3,000,000) jobs in just four years. In just two years, President Biden has created over Seven Million (7,000,000) jobs. Now, even Sophomore Year Algebra teaches us that 7>5 (Seven being greater than Five). For those of you who did not take Algebra remember your First Graded Arithmetic,1...2...3...4....5....6...7

I know, for some Cons Arithmetic is hard, so use your fingers and toes.