Worker output fell 7.5% in the first quarter, the biggest decline since 1947

At the same time, labor costs as measured against productivity soared 11.6%, bringing the increase over the past four quarters to 7.2%, the fastest rise in about 40 years.
Weekly jobless claims increased to 200,000, well above the Wall Street estimate.
 
Joe once fucked up a pat hand AND a wet dream all in the same stroke! :laugh: Hard to do...... but he DID IT!
 
the lack of productivity leads to shortages and/or buying from China which has it's own issues
(COVID LOCKDOWNS)

less goods produced is also inflationary
 
And THERE HE WAS,.....caught red handed with his pecker in his hand and nuthin but a stupid look on his face. Old Joe truly can fuck up ANYTHING!
 
Worker output fell 7.5% in the first quarter, the biggest decline since 1947

https://www.cnbc.com/2022/05/05/lab...irst-quarter-the-fastest-rate-since-1947.html

Biden says the economy is roaring back....

DISINFORMATION by the executive branch. Report him immediately to the Ministry of Truth!

If the information comes from any person in government at any level and from any source, we must remember that all of the lying thieves are lying thieves.

Information they process and release is the sort of information that you will hear from a lying thief.
 
Worker output fell 7.5% in the first quarter, the biggest decline since 1947

Are you saying that this economy is as "bad" as 1945-1947? There was definitely economic disruption from 1945 to 1947, but most people consider that economic disruption to be mostly good. Millions of workers returned to the private sector, and economic production switched from a wartime to a peacetime footing. All that change meant that hourly output fell. New workers doing new things are not as productive as experienced workers are.
 
Weekly jobless claims increased to 200,000, well above the Wall Street estimate.

Jobless claims increased by 19,000 to 200,000. 200,000 is extremely low. It is 18,000 above the prediction of 182,000. That is above, but not "well above" as you claim.

What we are seeing is a strong job market, where anyone can get a job, and somehow unemployment is below structural unemployment. When it is so low, it will bounce around a little, but that is probably meaningless.

I keep coming back to job openings outnumbering unemployed two to one.
 
Jobless claims increased by 19,000 to 200,000. 200,000 is extremely low. It is 18,000 above the prediction of 182,000. That is above, but not "well above" as you claim.

What we are seeing is a strong job market, where anyone can get a job, and somehow unemployment is below structural unemployment. When it is so low, it will bounce around a little, but that is probably meaningless.

I keep coming back to job openings outnumbering unemployed two to one.

It's only low when the number of people that want jobs to begin with is low even as the employment rate has remained almost flat. It seems that the latest generations in America think they're too good to actually do any labor at all...
 
It's only low when the number of people that want jobs to begin with is low even as the employment rate has remained almost flat.

The employment rate has been skyrocketing at unheard of rates. That is the opposite of remaining flat.

It seems that the latest generations in America think they're too good to actually do any labor at all...

The people leaving the workforce right now are in the Baby Boomer generation. That is not a recent generation. They are between 58 and 77 years old.

There is a huge problem with uneducated white men not joining the workforce that predates Covid. It is not so much they are unwilling to do any labor, but more that they are unwilling to lower expectations.
 
The employment rate has been skyrocketing at unheard of rates. That is the opposite of remaining flat.

Wrong. It's flattened out and remains flat.

https://tradingeconomics.com/united-states/employment-rate?msclkid=5ba9998fce6d11eca50ad69ece3628b7

The people leaving the workforce right now are in the Baby Boomer generation. That is not a recent generation. They are between 58 and 77 years old.

Wall Street professionals and economists were predicting that April’s jobs report would show that the United States economy created over one million news jobs. Then, when the U.S. Department of Labor released the actual numbers, it was only about 25% of what they expected.

Here’s what’s happening:
Parents are finding it exceedingly hard to juggle their jobs, provide child care and homeschool their children, as many public schools shut down in-classroom studies. Having to choose between working, searching for a job or taking care of their kids, many mothers elected to opt out of the job market.

Although millions of Americans have been vaccinated, there is still a palpable fear of catching Covid-19. People would rather not work than run the risk of catching and spreading the virus. In a survey of food-service workers, conducted by One Fair Wage and the Food Labor Research Center at the University of California, Berkeley, 75% of the respondents said low wages and tips was the impetus to quit their jobs during the pandemic.

It's reasonable that if employers need workers so badly, they should raise pay. This is also not happening. ADP chief economist Nela Richardson said, “The full sentence is 'I can't find workers at the wage I am willing to offer.' Full stop." Richardson contends that if you pay them well, "you can find workers."

While this is easy to say, for many companies, particularly mom-and-pop businesses, which represent a significant amount of jobs, they don’t have huge financial resources.

https://www.forbes.com/sites/jackke...f9098ce6d11eca07ddfa6901cda6e&sh=38648d433524

There is a huge problem with uneducated white men not joining the workforce that predates Covid. It is not so much they are unwilling to do any labor, but more that they are unwilling to lower expectations.

No, there's a huge problem with the young. They think they're privileged and should be paid far better than their level of skill and experience can get them.

Young People Are Leaving Their Jobs in Record Numbers—And Not Going Back

The numbers are even more notable for young workers: in September, nearly a quarter of workers ages 20 to 34 were not considered part of the U.S. workforce—some 14 million Americans, according to the Bureau of Labor Statistics, who were neither working nor looking for work.

https://time.com/6111245/young-workers-quitting/?msclkid=542b5646ce6e11ecb90b6b957ec51cae

Millennials Don't Want to Work
https://www.huffpost.com/entry/mill...0386?msclkid=542d150fce6e11ec9e8651e6c36a2a64

Millennials think they're privileged, particularly in Blue states where the benefits of not working often exceed those of working entry level jobs.
 
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