Private Sector Companies Added 497,000 Jobs In June, More Than Double Expectations

[g5000]

Those leisure and hospitality jobs seem to be the norm this time of year despite those workers going on strike in LA and LV.

Leisure and hospitality is where the majority of jobs will be for many years to come.

The agriculture sector used to be 98 percent of all jobs at our nation's founding. Now it is just 2 percent of jobs. However, it still rakes in serious money.

Mining, same. Manufacturing, same. Still very profitable, just less employees due to automation.

The future of jobs is in leisure and hospitality.

 

[Ralph Norton]

The Biden economy is soaring

"soaring"

 

[g5000]

Over 13 million jobs have been created since January 2021.

"Doze are all burger flipperZ!"

 

[rightwinger]

"soaring"

Half a million jobs in one month

Impressive

 

[sealybobo]

Leisure and hospitality is where the majority of jobs will be for many years to come.

The agriculture sector used to be 98 percent of all jobs at our nation's founding. Now it is just 2 percent of jobs. However, it still rakes in serious money.

Mining, same. Manufacturing, same. Still very profitable, just less employees due to automation.

The future of jobs is in leisure and hospitality.

Those jobs don't pay as well as manufacturing jobs. They also don't create as many jobs as manufacturing jobs do. Imagine I open a factory where I make something. I have to buy things to make my product. If you own a ski resort you don't have to make anything. Just wait for the snow and skiers to come. You know what I mean? So a manufacturing company buys and sells. Hospitality mostly sells.

And where there are manufacturing companies, there are tier 1, 2 and 3 suppliers.

AND, when manufacturing is doing well, they spend a lot of money at restaurants, hotels, airlines, car rentals. In other words, even leisure and hospitality benefit from manufacturing jobs.

Each industry has backward linkages to economic sectors that provide the materials needed for the industry’s output, and each industry has forward linkages to the economic sectors where the industry’s workers spend their income. Therefore, in addition to the jobs directly supported by an industry, a large number of indirect jobs may also be supported by that industry. The subtraction (or addition) of jobs and output in industries with strong backward and forward linkages to other economic sectors can cause large ripple effects.

Employment multipliers per 100 direct jobs, by major private-sector industry group​

Major industry group	Direct jobs	Supplier jobs*	Induced jobs**	Total indirect jobs
Agriculture, forest, fishing, and hunting	100	93.6	134.8	228.5
Mining	100	224.0	166.0	390.0
Utilities	100	515.4	442.2	957.7
Construction	100	88.0	138.1	226.1
Durable manufacturing	100	289.1	454.9	744.1
Nondurable manufacturing	100	184.8	329.5	514.3
Wholesale trade	100	107.3	128.0	235.3
Retail trade	100	46.7	75.4	122.1
Transportation and warehousing	100	112.8	163.3	276.0
Information	100	252.0	321.1	573.1
Finance and insurance	100	149.7	214.7	364.4
Real estate and rental leasing	100	396.6	483.1	879.7
Professional, scientific, and technical services	100	142.1	276.2	418.3
Management of companies	100	144.4	255.4	399.9
Administrative and support services and waste management	100	45.5	89.1	134.5
Educational services	100	63.8	129.9	193.7
Health care and social assistance	100	69.4	136.2	205.6
Arts, entertainment, and recreation	100	123.3	255.2	378.5
Accommodation and food services	100	53.8	107.4	161.2
Other services (except public administration)	100	70.7	139.6	210.3

 

[The Banker]

Joe Biden has given America the best jobs market in US history !
And this morning the best keeps getting better.

+497k jobs from the ADP

Biden's economy added 497k private jobs ! What an epically incredible number. Private employment.

JOLTs new jobs openings is still very strong coming in at 9+M

And the services sector PMI came in at a booming 54.4 !

Data like this verify Biden has a great economy, the best labor market in US history, and Patriotic Americans are all happy today.

Economic Calendar - Investing.com

Economic calendar: get indicators in real-time as economic events are announced and see the immediate global market impact - Including previous, forecast and actual figures.

www.investing.com

 

[sealybobo]

Half a million jobs in one month

Impressive

Trump doesn't believe the numbers. But if he wins, the minute that number improves even .001%, suddenly he's a believer again.

 

[The Banker]

Holy moley! What great news! This will cause a lot of Trumptard butts to burn.

Ordinarily, when there is great jobs growth when a D is in the White House, the tard herd invariably whines, "B-b-b-b-b-but LFPR!"

Sadly for them, the Labor Force Participation Rate is higher than it ever was during the Trump regime.

So it's good news all around, and bad news for those who want to see our country fail.

Private sector companies added 497,000 jobs in June, more than double expectations, ADP says

The U.S. labor market showed no signs of letting up in June, as companies created far more jobs than expected.

www.cnbc.com

The U.S. labor market showed no signs of letting up in June, as companies created far more jobs than expected, payroll processing firm ADP reported Thursday.

Private sector jobs surged by 497,000 for the month, well ahead of the downwardly revised 267,000 gain in May and much better than the 220,000 Dow Jones consensus estimate. The increase resulted in the biggest monthly rise since July 2022.

From a sector standpoint, leisure and hospitality led with 232,000 new hires, followed by construction with 97,000, and trade, transportation and utilities at 90,000.

Labor force participation rate for people ages 25 to 54 in May 2023 highest since January 2007​

​

All true Patriotic Americans are happy today !

All Traitorous MAGA trash are crying yet again !!!

Joe Biden has given us the best labor Market in US History.
Joe Biden has lowered the annual deficit from what he inherited from Trump
Joe Biden has a very strong economy, because the data says it is strong.

 

[1srelluc]

I'm wondering if that is jobs that were recovered or new jobs? There is a difference you know. One thing is for certain, those jobs came at a much higher price tag for employers.

Blah, our government doesn't know whether to pump the brakes or give it more gas. So it's doing both.

Shit, I'd rather a recession than more inflation but we'll probably get both.

First we are likely in some sort of stagflation now.

Second, the issue is that the Administration has refused to allow any economic bad news to occur if you will remember the not-recession recession we had were the definition of recession was ignored, until the data could be re-crafted to reflect the narrative?

Yes, the politically brave answer would have been to batten down the hatches of spending, show some resolve in weathering a recession, and hope it is not too deep or shocking to the system.

Now I afraid it's Katy bar the door as to what will happen.

 

[Ralph Norton]

Half a million jobs in one month

Impressive

Yes, 490K is impressive. But 373K are service jobs which happens every summer.
That being said, it is not "the economy".

 

[Rigby5]

The Biden economy is soaring

I wish it was, but this is only half a million, which is mostly kids getting summer jobs, at $20/hr, due to the runaway inflation.
A better economic indicator is home buying, and that has remained flat since covid.

 

[The Banker]

WHen is a Republican ever going to have an economy this good??

 

[Rigby5]

Thank you Biden. I guess you avoided that recession Republicans said was coming.

Also thanks for fixing inflation. You are a great President.

Wrong.
The recession is still here, ever since covid.
This is a seasonal job boost every summer, and this is mainly because kids are being forced to take summer jobs, due to the fact Biden's inflation is still not fixed at all.
All Biden did was slightly reduce oil prices by allowing some additional drilling.

 

[Ralph Norton]

WHen is a Republican ever going to have an economy this good??

2019

 

[okfine]

Those jobs don't pay as well as manufacturing jobs. They also don't create as many jobs as manufacturing jobs do. Imagine I open a factory where I make something. I have to buy things to make my product. If you own a ski resort you don't have to make anything. Just wait for the snow and skiers to come. You know what I mean? So a manufacturing company buys and sells. Hospitality mostly sells.

And where there are manufacturing companies, there are tier 1, 2 and 3 suppliers.

AND, when manufacturing is doing well, they spend a lot of money at restaurants, hotels, airlines, car rentals. In other words, even leisure and hospitality benefit from manufacturing jobs.

Each industry has backward linkages to economic sectors that provide the materials needed for the industry’s output, and each industry has forward linkages to the economic sectors where the industry’s workers spend their income. Therefore, in addition to the jobs directly supported by an industry, a large number of indirect jobs may also be supported by that industry. The subtraction (or addition) of jobs and output in industries with strong backward and forward linkages to other economic sectors can cause large ripple effects.

Employment multipliers per 100 direct jobs, by major private-sector industry group​

Major industry group	Direct jobs	Supplier jobs*	Induced jobs**	Total indirect jobs
Agriculture, forest, fishing, and hunting	100	93.6	134.8	228.5
Mining	100	224.0	166.0	390.0
Utilities	100	515.4	442.2	957.7
Construction	100	88.0	138.1	226.1
Durable manufacturing	100	289.1	454.9	744.1
Nondurable manufacturing	100	184.8	329.5	514.3
Wholesale trade	100	107.3	128.0	235.3
Retail trade	100	46.7	75.4	122.1
Transportation and warehousing	100	112.8	163.3	276.0
Information	100	252.0	321.1	573.1
Finance and insurance	100	149.7	214.7	364.4
Real estate and rental leasing	100	396.6	483.1	879.7
Professional, scientific, and technical services	100	142.1	276.2	418.3
Management of companies	100	144.4	255.4	399.9
Administrative and support services and waste management	100	45.5	89.1	134.5
Educational services	100	63.8	129.9	193.7
Health care and social assistance	100	69.4	136.2	205.6
Arts, entertainment, and recreation	100	123.3	255.2	378.5
Accommodation and food services	100	53.8	107.4	161.2
Other services (except public administration)	100	70.7	139.6	210.3

Mammoth Mountain still has snow. In July.

 

[Rigby5]

Half a million jobs in one month

Impressive

Not if they are temporary summer jobs.

 

[jotathought]

How many of these jobs are just basic recovery from all the jobs lost during the COVID shutdown of the economy?

How's the federal response to rate hikes going?

 

[g5000]

Those jobs don't pay as well as manufacturing jobs. They also don't create as many jobs as manufacturing jobs do. Imagine I open a factory where I make something. I have to buy things to make my product. If you own a ski resort you don't have to make anything. Just wait for the snow and skiers to come. You know what I mean? So a manufacturing company buys and sells. Hospitality mostly sells.

And where there are manufacturing companies, there are tier 1, 2 and 3 suppliers.

AND, when manufacturing is doing well, they spend a lot of money at restaurants, hotels, airlines, car rentals. In other words, even leisure and hospitality benefit from manufacturing jobs.

Each industry has backward linkages to economic sectors that provide the materials needed for the industry’s output, and each industry has forward linkages to the economic sectors where the industry’s workers spend their income. Therefore, in addition to the jobs directly supported by an industry, a large number of indirect jobs may also be supported by that industry. The subtraction (or addition) of jobs and output in industries with strong backward and forward linkages to other economic sectors can cause large ripple effects.

Employment multipliers per 100 direct jobs, by major private-sector industry group​

Major industry group	Direct jobs	Supplier jobs*	Induced jobs**	Total indirect jobs
Agriculture, forest, fishing, and hunting	100	93.6	134.8	228.5
Mining	100	224.0	166.0	390.0
Utilities	100	515.4	442.2	957.7
Construction	100	88.0	138.1	226.1
Durable manufacturing	100	289.1	454.9	744.1
Nondurable manufacturing	100	184.8	329.5	514.3
Wholesale trade	100	107.3	128.0	235.3
Retail trade	100	46.7	75.4	122.1
Transportation and warehousing	100	112.8	163.3	276.0
Information	100	252.0	321.1	573.1
Finance and insurance	100	149.7	214.7	364.4
Real estate and rental leasing	100	396.6	483.1	879.7
Professional, scientific, and technical services	100	142.1	276.2	418.3
Management of companies	100	144.4	255.4	399.9
Administrative and support services and waste management	100	45.5	89.1	134.5
Educational services	100	63.8	129.9	193.7
Health care and social assistance	100	69.4	136.2	205.6
Arts, entertainment, and recreation	100	123.3	255.2	378.5
Accommodation and food services	100	53.8	107.4	161.2
Other services (except public administration)	100	70.7	139.6	210.3

I see my point has sailed right over your head.

Look at the top of your list. Agriculture. As I said, only 2 percent of jobs are in agriculture.

Manufacturing jobs have been steadily declining due to automation. Politicians lie and say those jobs went overseas and they promise to bring them back. They are lying. 88 percent of manufacturing jobs have been automated out of existence forever and are never coming back.

Agriculture was 98 percent of all jobs. Now it is 2 percent. What would you think of a dipshit politician who promised to bring back all the "lost" agriculture jobs?

That's how you should think of politicians who promise to bring back coal jobs.

 

[g5000]

Not if they are temporary summer jobs.

What part of "double expectations" do you not understand?

Try not to advertise just how butt hurt you are.

 

[The Banker]

How many of these jobs are just basic recovery from all the jobs lost during the COVID shutdown of the economy?

How's the federal response to rate hikes going?

Traitor MAGA trash are triggered by Job Biden's booming success on the economy.

All the jobs are new.
The covid excuse has run out of legs.

All you people have are excuses.

Bush inherited a balanced budget then blew up the economy, all you have are excuses
Trump ramped up the deficit massively every year of his presidency, pre-covid and gave us 25% of our total debt. All you have are excuses

Biden has given us the best labor market is US history because of his great policy.

Enjoy the booming data !