Unemployment A 3.5%, Wages Up, Dollar At 50 Year High In September Jobs Report

[airplanemechanic]

^^^^^
America hater.

No matter how hard they try to cripple our country, and our economy, President Biden works to keep us the best economy on the planet.

This is the best economy on the planet? One in a recession with 8.5% inflation? Man, other countries must really suck!

 

[skews13]

This is the best economy on the planet? One in a recession with 8.5% inflation? Man, other countries must really suck!

They do. It's what happens when your economic policies protect the investor class, over the working class. Now they have high inflation, and high unemployment. Low prices don't mean anything when you don't have a job.

 

[skews13]

Are u nuts?

Jobs that were paying minimum wage are being offered at $17.50 an hour up here, and still have openings! Cashiers starting at $17.50 and no one to fill the jobs!

It's a part of our country's inflation problem....wage increases, to find workers.

Bingo.

September’s nonfarm payrolls number was good news for the economy but bad news for the Federal Reserve and markets. Let’s summarize the current *counterintuitive* situation below.

The Fed is trying to bring down inflation, and a tight labor market makes doing that extremely hard. Many jobs and few available workers create an environment where labor has the upper hand. As a result, workers can bargain for higher pay and more incentives.

While this is great in theory, especially given the current wealth gap in society, it creates upward inflation pressure. Companies’ input costs go up, so they raise the prices of the goods/services they sell. And on the demand side, higher wages for workers mean more demand, which also pushes up prices.

That is the opposite of what the Fed is trying to do. Its policies are attempting to crush demand enough that unemployment increases and the prices of homes and other major goods decrease.

So while the White House is happy about September nonfarm payrolls rising 263k and the unemployment rate falling to 3.5%, the Fed and the stock market are not.

How does this all tie back to the stock market and today’s decline?

Well, upward inflationary pressure means the Fed will have to keep tightening financial conditions aggressively until it sees meaningful progress. Higher interest rates put pressure on the stock market because the risk-free rate of return (or discount rate) that’s used in every financial model goes up, reducing the value of most other assets.

This is why we saw tech-heavy Nasdaq 100 fall almost 4% today, and companies like $META make fresh year-to-date lows.

There are still some signs the labor market is beginning to soften, but it’s doing so slowly. As a result, markets expect interest rates will have to stay higher for longer, and stocks don’t love that.

 

[airplanemechanic]

They do. It's what happens when your economic policies protect the investor class, over the working class. Now they have high inflation, and high unemployment. Low prices don't mean anything when you don't have a job.

But they mean a lot when you DO have a job.

Trump had 3.5% unemployment and a much higher labor participation rate. So MORE people had jobs under Trump AND things cost less.

God we need Trump back. Selective memory you lefties have. Remember these days?

U.S. Unemployment Rate Falls to 50-Year Low – The White House

trumpwhitehouse.archives.gov

 

[Gabe Lackmann]

Wages up .03%, inflation is 8.5%. Break open the champagne!! wooo hooo!!!

Meanwhile, OPEC tells the child molester to go sniff kids, they're cutting production 2 million barrels a day to drive up oil prices. And since Biden made sure we're reliant on their oil and not our own, this guarantees gas prices will spike just before the midterms.

Let's Go Brandon!!

Not to mention the British pound almost collapsed everyone is fleeing to the dollar as a last result...which means the dollar is next to collapse.

Markets are plunging off a cliff, and between now and November the markets WILL crash.

We are nearing WW3 and an inevitable nuclear holocaust.

But President Puppet is making it all better.

We are seriously fucked.

 

[skews13]

But they mean a lot when you DO have a job.

Trump had 3.5% unemployment and a much higher labor participation rate. So MORE people had jobs under Trump AND things cost less.

God we need Trump back. Selective memory you lefties have. Remember these days?

U.S. Unemployment Rate Falls to 50-Year Low – The White House

trumpwhitehouse.archives.gov

Trump didn't have shit. Everything he had was inherited from Obama, which he proceeded to fuck up in just 40 months.

The only President in modern history to leave office with a net negative in jobs, and a growth rate the worst since the Hoover administration.

Donald Trump was a failure at every metric, and every level as President, and now it's confirmed he is a traitor to the country.

Trumps not coming back. You might want to start preparing whats left of your worthless maga life for that inevitability.

 

[airplanemechanic]

Trump didn't have shit. Everything he had was inherited from Obama, which he proceeded to fuck up in just 40 months.

The only President in modern history to leave office with a net negative in jobs, and a growth rate the worst since the Hoover administration.

Donald Trump was a failure at every metric, and every level as President, and now it's confirmed he is a traitor to the country.

Trumps not coming back. You might want to start preparing whats left of your worthless maga life for that inevitability.

No, Trump didn't have shit. Bidens got shit, a lot of shit.

Failing to account for the covid democrat lockdown that shut the economy down is failing to be fair. You can't force businesses to close due to the Chinkflu under threat of arrest and then blame the president for the ensuing loss of jobs and say its a reflection on him or his policies. To do that would make you a fucking dickwad.

Before Covid, Trump had the strongest economy in modern history. EVERYONE agrees with that. Jobs were artificially lost because democrats shut down entire states. That's not Trumps fault. In fact, Trump said NOT to shut everything down and you people did anyway.

Stock markets hit HUNDREDS of record highs under Trump in the 3 years before the Covid lockdowns. Unemployment was at a 50 year low. What did we get with poopypants? A recession and 8.5% inflation and 5 dollar a gallon gas. Not to mention a 7000pt drop in the DOW and TRIPLING of the mortgage rate from 2.3% to 6.6% knocking tens of thousands out of the housing market. Did I mention that rent has gone up 50% under Biden? Oh yea, now you can't afford to buy a house or rent one!!! Wait, maybe you can use your .03% payraise to buy one. Or maybe not. LETS GO BRANDON!!!

I'll take Trump anyday. And the ass whippin' you're going to get in November will back up everything I said.

 

[Concerned American]

Average hourly earnings rose 0.3% on a monthly basis and 5.0% compared to a year ago, matching estimates

Inflation is 8.5%, fuel costs up 30%. Kind of negates a 5% increase in wages. But what the hey, democrat manipulation of numbers is nothing new, eh, moron?