Economy Rebounds! Over 7.8 Million New Hires in May and June

JimBowie1958

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By November, the economy will be roaring once again, and unemployment will be below 5%.


U.S. private payrolls increased by 2.369 million in June, the ADP National Employment Report showed on Wednesday.
Data for May was revised up to show a 3.065 million rise in payrolls, instead of the previous estimate of a 2.76 decline.


The U.S. economy added 4.8 million jobs in June and the unemployment rate fell to 11.1 percent, both better than expected.
The increase in the ranks of employed workers shows that companies ramped up hiring as the economy reopened and consumers came back to stores, restaurants, and other businesses that had been shuttered in March and April.
Job growth was strong in restaurants and bars, reflecting the reopening of those establishments across the country, which added 1.5 million jobs, the Labor Department said Thursday. But employment remains 3.1 million below February’s level, the month before the pandemic hit the U.S. economy.


So employment is almost aback to pre-pandemic levels, with only another 3 million to go.

Happy Days are here again!
 

BlueGin

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It’s inevitable. An example would be the dealerships that laid off mechanics. They will have to hire them all back once the re open happens.

So I’m not exactly surprised .
 

Moonglow

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I doubt very seriously these are "new" jobs since it reflects people going back to work to old jobs that the PPP loans paid for.

GDP is down -5%
Annual GDP growth rate is .30
 

Mac1958

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Capitalism 2.0: The Fed is now as important to the economy as the consumer.

I hope we don't fuck this up.
 
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JimBowie1958

JimBowie1958

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It’s inevitable. And example would be the dealerships that laid off mechanics. They will have to hire them all back once the re open happens.
So I’m not exactly surprised .
Whjat kind of surprizes me is all the economic 'experts' who thought it would be difficult to re-open the economy.

They do not fundamentally understand that most people WANT to work. The unemployment we had was like a spring being stood on and forced down. As soon as the downward force was removed it springs back to where it would naturallyt be once again.

Same is true of the economy which is simply a measure of peoples desire to work, trade things and have purpose.
 

Moonglow

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Capitalism 2.0: The Fed is now as important to the economy as the consumer.

I hope we don't fuck this up.
State capitalism at its best on the road to socialism...
 

Moonglow

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It’s inevitable. And example would be the dealerships that laid off mechanics. They will have to hire them all back once the re open happens.
So I’m not exactly surprised .
Whjat kind of surprizes me is all the economic 'experts' who thought it would be difficult to re-open the economy.

They do not fundamentally understand that most people WANT to work. The unemployment we had was like a spring being stood on and forced down. As soon as the downward force was removed it springs back to where it would naturallyt be once again.

Same is true of the economy which is simply a measure of peoples desire to work, trade things and have purpose.
Of which the president deserves no credit.
 

Mac1958

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Capitalism 2.0: The Fed is now as important to the economy as the consumer.

I hope we don't fuck this up.
State capitalism at its best on the road to socialism...
Well, this is new territory. The Fed has now jumped in to save us from ourselves three times in the last 12 years.

So pretty soon, we need to start asking why that is.
 

Moonglow

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Capitalism 2.0: The Fed is now as important to the economy as the consumer.

I hope we don't fuck this up.
State capitalism at its best on the road to socialism...
Well, this is new territory. The Fed has now jumped in to save us from ourselves three times in the last 12 years.

So pretty soon, we need to start asking why that is.
They themselves will determine who wins and who loses at the game of life.
 

gipper

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Capitalism 2.0: The Fed is now as important to the economy as the consumer.

I hope we don't fuck this up.
When the Fed buys the debt of major corporations, as they have been doing, it’s a clear sign something stinks.

One thing is apparent, the Fed’s and our corrupt central government’s main goal is enriching and protecting the extreme wealthy.
 

BlueGin

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It’s inevitable. And example would be the dealerships that laid off mechanics. They will have to hire them all back once the re open happens.
So I’m not exactly surprised .
Whjat kind of surprizes me is all the economic 'experts' who thought it would be difficult to re-open the economy.

They do not fundamentally understand that most people WANT to work. The unemployment we had was like a spring being stood on and forced down. As soon as the downward force was removed it springs back to where it would naturallyt be once again.

Same is true of the economy which is simply a measure of peoples desire to work, trade things and have purpose.
It’s because it’s artificial for the most part. They have destroyed small businesses,but those folks will still go back to work in some fashion at some point.
 
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JimBowie1958

JimBowie1958

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Capitalism 2.0: The Fed is now as important to the economy as the consumer.

I hope we don't fuck this up.
The Fed has always been important to the economy, doofus, as it issues our currency and does so to stabilize the currency and to lower unemployment as it says in its charter as modified by Congress.

SMGH thought you were a stock trader or sumpin
 
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JimBowie1958

JimBowie1958

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President Donald Trump said Wednesday that he supports another round of direct payments to Americans — and that he would support bigger payments than the Democrats.
“I do. I support it. But it has to be done properly,” Trump said in an interview with Fox Business Network’s Blake Berman.“I support actually larger numbers than the Democrats.”
 

Mac1958

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Capitalism 2.0: The Fed is now as important to the economy as the consumer.

I hope we don't fuck this up.
The Fed has always been important to the economy, doofus, as it issues our currency and does so to stabilize the currency and to lower unemployment as it says in its charter as modified by Congress.

SMGH thought you were a stock trader or sumpin
Yes, I'm a 20-year financial advisor whose views on the topic are not distorted by ignorant politics.
 

Mac1958

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One thing is apparent, the Fed’s and our corrupt central government’s main goal is enriching and protecting the extreme wealthy.
What do we expect when we allow for a political system that incentivizes politicians to sell their soul for the sake of re-election?
 

toobfreak

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By November, the economy will be roaring once again, and unemployment will be below 5%.


U.S. private payrolls increased by 2.369 million in June, the ADP National Employment Report showed on Wednesday.
Data for May was revised up to show a 3.065 million rise in payrolls, instead of the previous estimate of a 2.76 decline.


The U.S. economy added 4.8 million jobs in June and the unemployment rate fell to 11.1 percent, both better than expected.
The increase in the ranks of employed workers shows that companies ramped up hiring as the economy reopened and consumers came back to stores, restaurants, and other businesses that had been shuttered in March and April.
Job growth was strong in restaurants and bars, reflecting the reopening of those establishments across the country, which added 1.5 million jobs, the Labor Department said Thursday. But employment remains 3.1 million below February’s level, the month before the pandemic hit the U.S. economy.


So employment is almost aback to pre-pandemic levels, with only another 3 million to go.

Happy Days are here again!
I know I have a connection to a local employment agency and they have more jobs than they can find people for! Good jobs, too! There was just posted one for an electrician at $26/hr + benefits. I was tempted to take it myself.
 

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