Economy adds 353,000 jobs in Jan. much better than expected. America loves Bidenomics

J

Joe Capitalist

Racism is a disease
U.S. economy added 353,000 jobs in January, much better than expected

https://www.cnbc.com/2024/02/02/us-economy-added-353000-jobs-in-january-much-better-than-expected.html

Nonfarm payrolls expanded by 353,000 for the month, better than the Dow Jones estimate for 185,000. The unemployment rate held at 3.7%, against the estimate for 3.8%.
Average hourly earnings increased 0.6%, double the monthly estimate. On a year-over-year basis, wages jumped 4.5%, well above the 4.1% forecast.
Job growth was widespread in January, led by professional and business services with 74,000. Other significant contributors included health care (70,000) and retail trade (45,000).

Job growth posted a surprisingly strong increase in January, demonstrating again that the U.S. labor market is solid and poised to support broader economic growth.
Payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department's Bureau of Labor Statistics reported Friday. The unemployment rate held at 3.7%, against the estimate for 3.8%.

MAGA soils diapers
 
U.S. economy added 353,000 jobs in January, much better than expected
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More than three years ago, Trump practically guaranteed that if Americans dared to elect Biden there would be an unprecedented economic depression of apocalyptic proportions.
 
Joe Capitalist said:
U.S. economy added 353,000 jobs in January, much better than expected

https://www.cnbc.com/2024/02/02/us-economy-added-353000-jobs-in-january-much-better-than-expected.html

Nonfarm payrolls expanded by 353,000 for the month, better than the Dow Jones estimate for 185,000. The unemployment rate held at 3.7%, against the estimate for 3.8%.
Average hourly earnings increased 0.6%, double the monthly estimate. On a year-over-year basis, wages jumped 4.5%, well above the 4.1% forecast.
Job growth was widespread in January, led by professional and business services with 74,000. Other significant contributors included health care (70,000) and retail trade (45,000).

Job growth posted a surprisingly strong increase in January, demonstrating again that the U.S. labor market is solid and poised to support broader economic growth.
Payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department's Bureau of Labor Statistics reported Friday. The unemployment rate held at 3.7%, against the estimate for 3.8%.

MAGA soils diapers
Click to expand...

https://www.bloomberg.com/news/arti...-rise-to-two-month-high-as-labor-market-cools
 
Yakuda said:
https://www.bloomberg.com/news/arti...-rise-to-two-month-high-as-labor-market-cools
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OMG.. Run for the hills!! It's a 2 month high.

Initial and recurring applications for US unemployment benefits both rose to a two-month high
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Meanwhile back in the real world when you read the article.
“The data continue to show that layoffs are not mounting,” Rubeela Farooqi, chief US economist at High Frequency Economics, said in a note. “For now, an adjustment in labor market conditions is coming from a slowing in hiring rather than a surge in firings, which is welcome news.”
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They will spin this with some isolated bullshit stat that they have to dig for in all the good news. Our economy is incredibly strong.

Thank you, President Biden!!!!

I think Trump will instruct Speaker Jesus not to raise the debt limit. If he does, he will crash the economy and destroy the credit rating of the United States. Interest rates would be in double digits, a massive recession would occur, and we would lose millions of jobs. But it might hurt Biden, so Trump will tell them to do it. I hope they aren't stupid enough to try. But nothing would surprise me anymore. They turned down the strongest immigration bill in decades because they want their dictator.
 
Joe Capitalist said:
U.S. economy added 353,000 jobs in January, much better than expected

https://www.cnbc.com/2024/02/02/us-economy-added-353000-jobs-in-january-much-better-than-expected.html

Nonfarm payrolls expanded by 353,000 for the month, better than the Dow Jones estimate for 185,000. The unemployment rate held at 3.7%, against the estimate for 3.8%.
Average hourly earnings increased 0.6%, double the monthly estimate. On a year-over-year basis, wages jumped 4.5%, well above the 4.1% forecast.
Job growth was widespread in January, led by professional and business services with 74,000. Other significant contributors included health care (70,000) and retail trade (45,000).

Job growth posted a surprisingly strong increase in January, demonstrating again that the U.S. labor market is solid and poised to support broader economic growth.
Payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department's Bureau of Labor Statistics reported Friday. The unemployment rate held at 3.7%, against the estimate for 3.8%.

MAGA soils diapers
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You didn't mention wage growth, so I will. 4.5% over the last twelve months, easily outpacing inflation.

EDIT: I missed it the first time, but it still bears repeating :laugh:
 
10 million working age illegal immigrants have entered the country in the last 4 years. So the legal population lost 7.2 million jobs in the last 4 years, or else we are paying for food, shelter, health care, education, police, fire, utilities, etc. for 10 million more people who don’t have a job. They don’t have trust funds.
 
volsrock said:
10 million working age illegal immigrants have entered the country in the last 4 years. So the legal population lost 7.2 million jobs in the last 4 years, or else we are paying for food, shelter, health care, education, police, fire, utilities, etc. for 10 million more people who don’t have a job. They don’t have trust funds.
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Yet, we are close to full employment of citizens. Thank GOD we have a labor force of non-citizens. Who do you think picks your fruit, and builds residences?
 
volsrock said:
labor force of non-citizens


Thats against the law
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True, but it should not be. Lets give them a work permit and collect taxes from them. Currently they are being taken advantage of because of their status, and not paying tax.
 
Jarod said:
Generally when the market is at an ALL TIME HIGH, it will cool. That is how the market works, if it was steaming forward Id worry.
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Irrelevant. You idiots crow about jobs but new jobless claims are up. Deal with it.
 
Jarod said:
Generally when the market is at an ALL TIME HIGH, it will cool. That is how the market works, if it was steaming forward Id worry.
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Every all time high the market has reached is exceeded, sometimes the next day, sometimes six months later, but it has happened every time. The reason Yakuda's article is so galactically stupid is that it claims the job market is cooling, but we just added 330K jobs in a month. That is NOT cooling, so the article reaches a conclusion that has proven false and which based on a two data points, making it almost meaningless. It would be like claiming a we had a bear market if the DOW falls two days in a row. Their facts are correct, their conclusion is not. Today that was proven.
 
Concart said:
Every all time high the market has reached is exceeded, sometimes the next day, sometimes six months later, but it has happened every time. The reason Yakuda's article is so galactically stupid is that it claims the job market is cooling, but we just added 330K jobs in a month. That is NOT cooling, so the article reaches a conclusion that has proven false and which based on a two data points, making it almost meaningless. It would be like claiming a we had a bear market if the DOW falls two days in a row. Their facts are correct, their conclusion is not. Today that was proven.
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He does not care about reality.
 
Jarod said:
Yet, we are close to full employment of citizens. Thank GOD we have a labor force of non-citizens. Who do you think picks your fruit, and builds residences?
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volsrock is lying. Almost all of those who have entered have done so legally. And of course, his conclusion is so goddamn stupid a five year old could figure out the flaw. There are two job openings for every unemployed person, therefore NO ONE is lacking a job as a result of immigration.

As for the cost of care for those people, volsrock and the Trump cult have said the cost is an acceptable loss because it might hurt Biden in the election. If volsrock and the Trump cult were concerned about the number of asylum seekers, they would support the immigration bill, but they don't. So tough shit.
 
The total number of jobs in the US according to the BLS is 164.9 million. 330,000 jobs is less than 0.2% of the total jobs in the US. That is, the change is irrelevant. What it really says is the job market is flat, the labor utilization rate (if you look at that) is at an all-time low, and the U3 is completely meaningless.
 
Jarod said:
He does not care about reality.
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None of them do. There is no point in trying to convince them. They think the sky is pink. But everyone outside of the cult is catching on, and it's actually happening pretty fast. When they lose immigration, they will turn on Taylor Swift. It's started already. They will whine about her 'wokeness', accuse her of being a Democratic plant and an antisemite, and they will tell us all how she is ruining the country. They have nothing, and I mean literally nothing to run on. No legislation, no accomplishment, and no brains. Everyone is openly admitting that the emperor has no clothes. Their answer is 'we love Donald Trump naked'. Go figure.
 
Yakuda said:
Irrelevant. You idiots crow about jobs but new jobless claims are up. Deal with it.
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Eleven of the 13 recessions since World War 2 have been during Republican presidencies.

That's way too much data to be a statistical anomaly.


Even Trump said in 2005 that Democratic presidents tend to be better for the economy on average
 
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