Who do we believe?

[healthmyths]

Today, the U.S. Department of Labor’s Bureau of Labor Statistics released the monthly Jobs Report which shows the unemployment rate has dropped to 3.4% with more than a half million jobs created in January and 800,000 manufacturing jobs created in the last two years.
“President Biden’s economic plan is working,” said Commerce Secretary Raimondo. “When President Biden took office, the unemployment rate was 6.3%.
Today, it is just 3.4%. That’s the lowest in 54 years.”

News: Unemployment is at its Lowest Level in 54 years

Today, the U.S. Department of Labor’s Bureau of Labor Statistics released the monthly Jobs Report which shows the unemployment rate has dropped to 3.4% with more than a half million jobs created in January and 800,000 manufacturing jobs created in the last two years.

www.commerce.gov

YET...
Layoffs are up nearly fivefold so far this year with tech companies leading the way.
Planned layoffs totaled 89,703 for the period, an increase of 15% from February, according to Challenger, Gray & Christmas. Job cuts have soared to 270,416 so far in 2023, an increase of 396% from the same period a year ago.Apr 6, 2023

Layoffs are up nearly fivefold so far this year with tech companies leading the way

Companies announced nearly 90,000 layoffs in March, a sharp step up from the previous month.

www.cnbc.com

But, how common are layoffs in the US? 20 Must-Know Layoff Statistics [2023]: Who’s Being Terminated From Their Jobs - Zippia
Luckily, we’ve investigated all of the essential facts about American layoffs, and according to our extensive research:

• There were 15.4 million layoffs in the U.S. in 2022
• There were 6.9 million layoffs between August and December 2022.
• There have only been just over 168,000 layoffs since the start of 2023.
• 40% of Americans have been laid off or terminated from a job at least once.
• 48% of Americans have layoff anxiety.
• 28% of Americans have been laid off in the past two years alone.

So what's going on here?

 

[Donald H]

Believe that there are dozens of ways to manipulate employment statistics.

I won't spell it out for Americans unless somebody asks.

 

[1srelluc]

All I know is most everything is high as hell and it's not getting better.

Who would have ever thought OM beef bologna would be between $7.00 and $8.00 a pound?

 

[lg325]

• “There are three types of lies – lies, damn lies, and statistics.” - Disraeli

 

[candycorn]

So what's going on here?

There are facts being reported that you don't like so you are upset about it.

 

[candycorn]

Believe that there are dozens of ways to manipulate employment statistics.

I won't spell it out for Americans unless somebody asks.

True. The employment figures are based on a shockingly antiquated notion of what it means to be employed.

 

[Donald H]

True. The employment figures are based on a shockingly antiquated notion of what it means to be employed.

That's part of it on how government can paint a rosy picture that doesn't match working people's perception of reality.

You can say the same thing about what it means to be unemployed.

Service industry jobs that pay minimum or less.
Part time jobs.

 

[Harpy Eagle]

Today, the U.S. Department of Labor’s Bureau of Labor Statistics released the monthly Jobs Report which shows the unemployment rate has dropped to 3.4% with more than a half million jobs created in January and 800,000 manufacturing jobs created in the last two years.
“President Biden’s economic plan is working,” said Commerce Secretary Raimondo. “When President Biden took office, the unemployment rate was 6.3%.
Today, it is just 3.4%. That’s the lowest in 54 years.”

News: Unemployment is at its Lowest Level in 54 years

Today, the U.S. Department of Labor’s Bureau of Labor Statistics released the monthly Jobs Report which shows the unemployment rate has dropped to 3.4% with more than a half million jobs created in January and 800,000 manufacturing jobs created in the last two years.

www.commerce.gov

YET...
Layoffs are up nearly fivefold so far this year with tech companies leading the way.
Planned layoffs totaled 89,703 for the period, an increase of 15% from February, according to Challenger, Gray & Christmas. Job cuts have soared to 270,416 so far in 2023, an increase of 396% from the same period a year ago.Apr 6, 2023

Layoffs are up nearly fivefold so far this year with tech companies leading the way

Companies announced nearly 90,000 layoffs in March, a sharp step up from the previous month.

www.cnbc.com

But, how common are layoffs in the US? 20 Must-Know Layoff Statistics [2023]: Who’s Being Terminated From Their Jobs - Zippia
Luckily, we’ve investigated all of the essential facts about American layoffs, and according to our extensive research:

• There were 15.4 million layoffs in the U.S. in 2022
• There were 6.9 million layoffs between August and December 2022.
• There have only been just over 168,000 layoffs since the start of 2023.
• 40% of Americans have been laid off or terminated from a job at least once.
• 48% of Americans have layoff anxiety.
• 28% of Americans have been laid off in the past two years alone.

So what's going on here?

There are some 10 million open jobs, just waiting for an employee to take them. Thus when people get laid off from one company they can get a different job very quickly.

 

[candycorn]

That's part of it on how government can paint a rosy picture that doesn't match working people's perception of reality.

You can say the same thing about what it means to be unemployed.

Service industry jobs that pay minimum or less.
Part time jobs.

Not so sure about the service industry LOL. We've had some entry level hospital staff leave to take the higher paying jobs at a fast food restaurant. Whether they get 40 hours or not is another question. We work the hell out of transporters, file clerks, etc...

 

[John Edgar Slow Horses]

As long as people are buying and the CPI and PPI support the economy, this will continue.

With inflation, stick as it is, coming down incrementally, this will continue.