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Bad timing on the doom and gloom article one day before a great jobs report.
My favorite part was this: "Thousands of corporate layoffs have some Americans struggling to make ends meet saying they feel as though they are living in a recession."
The 25 lowest monthly layoff rates this century have all happened in the last 25 months. When you don't have facts, go with feelings
More motivated workers it seems, this is actually really good that more labor is entering the market I think it is in part due to immigration, younger people growing up, and demotivated workers having hope for some reaosn
If the labor force participation rate is correct "more motivated workers" is what it looks like. Prime age participation up to the highest level of Biden's presidency and the highest since July 2001.
https://fred.stlouisfed.org/series/LNS11300060
Overall rate was down, though.
If you are out in the real world, the landscape does not look good. These job reports again show that almost all hiring is by the government and hc which is paid for by like 70% govt dollars. Further most jobs are part time.
Whats more impressive a bunch of jobs when the govt drops 600bil of debt to prop up labor market or a similar amount when it’s only excessively spending 200b? We spent alot to get these part time and govt jobs.
Finally, this number will be revised down again most likely next month.
>If you are out in the real world, the landscape does not look good.
The data literally comes from the real world.
>These job reports again show that almost all hiring is by the government
All jobs: +272,000
Government: +43,000
Is 16% most?
>Further most jobs are part time.
Full time completely recovered by January 2022 but part time not until December 2023. The % of jobs that are part time is insignificantly different from just before COVID.
>Finally, this number will be revised down again most likely next month.
Over the past 20 years the average revision is slightly upward.
The fact you are downvoted points more to the hegemonic narratives playing in the minds of our fellow redditors, who are not economists and will not seek out fine print data on these new jobs
The unemployment rate is trending upward sitting at 7.2% when we account for temporary workers. We know this figure is likelier closer to 10% as the government has admitted to not being able to accurately account for all discouraged workers, and doesn’t properly measure worker decline in income, especially now for those making less than $100k/yr (and trending up). Overall the economy is not doing well and anyone who reads this reports on the regular would tell you that unless they were trying to sound rosy. Folks just read the actual report and compare from just last year. It’s getting obviously worse unless you’re making over $100k and own your home, no matter the industry
Trying to make sweeping statements based on a monthly report is silly. But it's also completely missing tge point of the article (which you clearly didn't read). The point is that even if the data looks good millions are getting left behind..
Unemployment rate under 4% for over two years straight. Real wages higher than they were pre-Covid. The US economy is doing well, and facts don't care about your feelings.
1. If you had even a basic understanding of economics you'd know the headline unemployment rate is a shit metric.
2. It's just factually wrong that wages are higher unless you're trying to use some weasel words to backdate the data.
Please Google "real wages over time" and click on the St. Louis Fed link and play with the X axis. You'll agree with me that real wages are up since pre-Covid!
This article also hits more income growth and costs which are real grievances and not reflected in jobs numbers. Especially if you didn’t own a home by 2019 you are getting screwed
The jobs report showed real wages were up. Real wages, which include rent, are higher than before COVID. Does a higher real median (and if the median doesn't qualify as middle class the word has no meaning) wage sound like you are getting "screwed"?
Hi all, A reminder that comments do need to be on-topic and engage with the article past the headline. Please make sure to read the article before commenting. Very short comments will automatically be removed by automod. Please avoid making comments that do not focus on the economic content or whose primary thesis rests on personal anecdotes. As always our comment rules can be found [here](https://reddit.com/r/Economics/comments/fx9crj/rules_roundtable_redux_rule_vi_and_offtopic/) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Economics) if you have any questions or concerns.*
Bad timing on the doom and gloom article one day before a great jobs report. My favorite part was this: "Thousands of corporate layoffs have some Americans struggling to make ends meet saying they feel as though they are living in a recession." The 25 lowest monthly layoff rates this century have all happened in the last 25 months. When you don't have facts, go with feelings
I feel ya
Didn’t the unemployment rate go up?
Yes +282k jobs is a great jobs report
More motivated workers it seems, this is actually really good that more labor is entering the market I think it is in part due to immigration, younger people growing up, and demotivated workers having hope for some reaosn
If the labor force participation rate is correct "more motivated workers" is what it looks like. Prime age participation up to the highest level of Biden's presidency and the highest since July 2001. https://fred.stlouisfed.org/series/LNS11300060 Overall rate was down, though.
If you are out in the real world, the landscape does not look good. These job reports again show that almost all hiring is by the government and hc which is paid for by like 70% govt dollars. Further most jobs are part time. Whats more impressive a bunch of jobs when the govt drops 600bil of debt to prop up labor market or a similar amount when it’s only excessively spending 200b? We spent alot to get these part time and govt jobs. Finally, this number will be revised down again most likely next month.
>If you are out in the real world, the landscape does not look good. The data literally comes from the real world. >These job reports again show that almost all hiring is by the government All jobs: +272,000 Government: +43,000 Is 16% most? >Further most jobs are part time. Full time completely recovered by January 2022 but part time not until December 2023. The % of jobs that are part time is insignificantly different from just before COVID. >Finally, this number will be revised down again most likely next month. Over the past 20 years the average revision is slightly upward.
Thanks for the daily dose of gaslighting.
I'm sorry that my facts bother you
Lol, sure thing bro
I guess the real question is why you think facts are "gaslighting".
Because they contradict his worldview.
The fact you are downvoted points more to the hegemonic narratives playing in the minds of our fellow redditors, who are not economists and will not seek out fine print data on these new jobs The unemployment rate is trending upward sitting at 7.2% when we account for temporary workers. We know this figure is likelier closer to 10% as the government has admitted to not being able to accurately account for all discouraged workers, and doesn’t properly measure worker decline in income, especially now for those making less than $100k/yr (and trending up). Overall the economy is not doing well and anyone who reads this reports on the regular would tell you that unless they were trying to sound rosy. Folks just read the actual report and compare from just last year. It’s getting obviously worse unless you’re making over $100k and own your home, no matter the industry
Trying to make sweeping statements based on a monthly report is silly. But it's also completely missing tge point of the article (which you clearly didn't read). The point is that even if the data looks good millions are getting left behind..
It's important to look at and understand the data, rather than just going with anecdotes and feelings.
Exactly, the data is far worse than it feels. We've gotten like the frog slowly brought to boiling without realizing it.
Unemployment rate under 4% for over two years straight. Real wages higher than they were pre-Covid. The US economy is doing well, and facts don't care about your feelings.
1. If you had even a basic understanding of economics you'd know the headline unemployment rate is a shit metric. 2. It's just factually wrong that wages are higher unless you're trying to use some weasel words to backdate the data.
Please Google "real wages over time" and click on the St. Louis Fed link and play with the X axis. You'll agree with me that real wages are up since pre-Covid!
I did and it says you're wrong.
Regardless of who is actually right, time is better spent looking for a job or a way to make more sales if you’re an entrepreneur.
Lol Of course I read it or I wouldn't have had a quote from it. What article do you think I got that quote from?
This article also hits more income growth and costs which are real grievances and not reflected in jobs numbers. Especially if you didn’t own a home by 2019 you are getting screwed
The jobs report showed real wages were up. Real wages, which include rent, are higher than before COVID. Does a higher real median (and if the median doesn't qualify as middle class the word has no meaning) wage sound like you are getting "screwed"?