Now with contraction ongoing into the third quarter we are officially in a recession. Major retailers are now cutting jobs during a time when they are usually gearing up for the holidays. Walmart, Target, and many others are not hiring for the holidays. Just in time for the midterm elections the jobless rate is going to skyrocket. Many retailers are allowing attrition to happen as they see profits shrink.
The U.S. economy likely created 462,000 more jobs in the 12 months through March than previously estimated, the Labor Department's Bureau of Labor Statistics said on Wednesday.
www.reuters.com
This REALLY upsets the Trumptards who want America to fail.
It's so sad to see the cucks so desperately wanting America to fail and fall into a recession.
Some tard told them a recession is defined by two quarters of reduced GDP and they parrot it endlessly, thus exposing their massive ignorance.
It is the NBER which determines if we are in a recession, and they often do not report we have been in one until long after it has passed. The reasons for this are too complicated for your pointy heads to comprehend.
Using just GDP growth to determine if we are in a recession is like using just your body temperature to determine if you have cancer.
So now I will provide you with the OFFICIAL definition of a recession:
In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity, the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation.
www.bea.gov
In general usage, the word recession connotes a marked slippage in economic activity. While gross domestic product (GDP) is the broadest measure of economic activity,the often-cited identification of a recession with two consecutive quarters of negative GDP growth is not an official designation.The designation of a recession is the province of a committee of experts at the National Bureau of Economic Research (NBER), a private non-profit research organization that focuses on understanding the U.S. economy. The NBER recession is a monthly concept that takes account of a number of monthly indicators—such as employment, personal income, and industrial production—as well as quarterly GDP growth. Therefore, while negative GDP growth and recessions closely track each other, the consideration by the NBER of the monthly indicators, especially employment, means that the identification of a recession with two consecutive quarters of negative GDP growth does not always hold.
So let's look at some of those indicators, shall we?
Unemployment is 3.5 percent. When it was 3.5 percent during Trump's term, the tards couldn't crow loud enough about it.
Personal income increased $133.5 billion, or 0.6 percent at a monthly rate, while consumer spending increased $181.1 billion, or 1.1 percent, in June. The increase in personal income primarily reflected increases in compensation and proprietors’ income.
Hope this helps. I apologize for all the great news.
Now with contraction ongoing into the third quarter we are officially in a recession. Major retailers are now cutting jobs during a time when they are usually gearing up for the holidays. Walmart, Target, and many others are not hiring for the holidays. Just in time for the midterm elections the jobless rate is going to skyrocket. Many retailers are allowing attrition to happen as they see profits shrink.
I find myself wondering how many traditional holidays we Americans have left; holidays where everyone can afford feasting food, travel, wine, gifts and get places without green fascist check points. This forced reduction in basic quality of life is happening the world over. I wonder how many good years we've got left.
In November 2024, preliminary numbers suggested that there were approximately 15.62 million people employed in the retail industry in the United States, up from 15.49 million employed in the same period a year earlier.
The U.S. economy likely created 462,000 more jobs in the 12 months through March than previously estimated, the Labor Department's Bureau of Labor Statistics said on Wednesday.
www.reuters.com
This REALLY upsets the Trumptards who want America to fail.
Now with contraction ongoing into the third quarter we are officially in a recession. Major retailers are now cutting jobs during a time when they are usually gearing up for the holidays. Walmart, Target, and many others are not hiring for the holidays. Just in time for the midterm elections the jobless rate is going to skyrocket. Many retailers are allowing attrition to happen as they see profits shrink.
nypost.com
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