678,000 jobs, unemployment falling to 3.8%

volsrock said:
Have not gained shit!!!! Those “jobs” are basically a lot of businesses that have been allowed to reopen after being forced to close due to COVID (think gyms, theaters, restaurants, arcades, etc.).

Employment is still down by 2.1 million from its pre-pandemic level in February 2020


Summary: NO new jobs created!
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What’s funny about reading your rants, if these were Trump’s numbers you’d be raving, instead of ranting.
 
guno said:
He is angry that his trailer park rent and cigarettes just increased in price
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It’s rough right now, I’m grateful I can afford things, and I try to pay it first forward. Most of us on this forum can remember other times things were tough. We just need to tough it out and help out. It’s how we’ve gotten through it before.
 
Phantasmal said:
What’s funny about reading your rants, if these were Trump’s numbers you’d be raving, instead of ranting.
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Well that's because they would be new jobs, not jobs added, these are jobs people are returning to or having to take because they can no longer sit on their arse!
 
Wolverine said:
Well that's because they would be new jobs, not jobs added, these are jobs people are returning to or having to take because they can no longer sit on their arse!
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And we only have about another 16 million to go to get back to where we were before the Fauci Plague struck...
 
BartenderElite said:
Ask anyone: are you better off than you were at the start of 2020?
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How would that be determined? I don't think the unemployment rate is the end all be all but it was 3.5% in Jan 2020 vs. 3.8% today. Due to asset inflation the rich made out during (and after) the pandemic due to the Fed's policies (and gov't stimulus).

At a high level over the past two years if you own your home and have a lot in the market you are probably doing pretty/really well. If not, home prices are even more out of reach for you and inflation is eating into your wage gains.

So I don't think there's a one size fits all answer to your question.
 
As usual - people look at the headlines and do not look below the surface.

It was not a great month.

https://www.bls.gov/news.release/empsit.a.htm
https://www.bls.gov/news.release/empsit.b.htm

1) Almost all of those 678K jobs were shitty, lower paid ones.
That is why the U-3 for uneducated imbeciles without even a high school diploma went down by 2 FULL POINTS.
Yet for all other levels of education - the U-3 stayed flat overall.

And the average hourly wages disappointed by only rising 1 lousy penny per hour.


2) The U-6 - the REAL unemployment rate - actually rose last month.
https://www.bls.gov/news.release/empsit.t15.htm

This was a great month if you were an uneducated simpleton looking for a low-paying job.
For everyone else - no big deal.


Once again - I despise both parties.
 
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