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

Joe Capitalist said:
The Economy has turned the corner and is thriving now. Americans are working and their investment accounts and 401k's are growing.
That means Americans wealth is increasing.

Why do Republiclowns hate it when Americans are doing better?
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It's disgusting. Republicans only care about who gets credit for achievements, fearing future electoral losses when they are exposed as being anti American.
 
Concart said:
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.
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The (Real) Reason Why the House Won’t Pass Comprehensive Immigration Reform


Christopher Parker

August 4, 2014

 
T. A. Gardner said:
Irrelevant facts that distract from the issue at hand. WTF does some talking head's opinion on Fox have to do with the U3 and what I stated?
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Labor utilization is not a macroeconomic number. It is not at record lows. I doubt there is any number at record lows right now.

It is 353k jobs created, not 330k jobs as you claim.

U6 is higher than U3, but it is always higher than U3. U6 is relatively low, and has been dropping recently. U6 was first released by Clinton to give us a better picture of the economy.

There are no facts that you have.
 
Walt said:
Labor utilization is not a macroeconomic number. It is not at record lows. I doubt there is any number at record lows right now.

It is 353k jobs created, not 330k jobs as you claim.

U6 is higher than U3, but it is always higher than U3. U6 is relatively low, and has been dropping recently. U6 was first released by Clinton to give us a better picture of the economy.

There are no facts that you have.
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chart-02-of-03--labor-force-participation-rate-for-those-55-and-older.png
 
T. A. Gardner said:
[Chart 1: Labor Force Participation Rate for Those 16 and Older]
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First and foremost, that is not Labor Utilization. Labor Utilization is basically productivity measured by the hour. It is not collected as a macroeconomic number.

It is not "all-time low", as you claimed. Before the 1970's it was almost always below 60%. Then with women joining the workforce in the 1970's, the rate started to rise until during the Clinton Administration it hit 67.3%. Then it started dropping as the Baby Boomers started retiring. The reality is we have a much older population than we used to, and will not have as high of a participation rate.

It is not even a record recent low. Obviously, with Covid trump got as low as 60.1%, but even before Covid, in 2015, we got as low as 62.4%(currently at 62.5%).

We might tick a bit higher, but the current demographics make it doubtful that our current economy will ever get much higher. In fact, it is going lower. The only way around that is if many retired people start taking gig jobs in their spare time. I am not sure that would be good for them, but it would make the labor participation numbers look higher. Picture a 70 year old retired person delivering food orders once a week for a few extra bucks.

https://fred.stlouisfed.org/series/CIVPART
 
How much have groceries gone up in 2023?

In 2023, food prices increased by 5.8 percent. Food-at-home prices increased by 5.0 percent, while food-away-from-home prices increased by 7.1 percent.Jan 25, 2024
 
Biden has little to be blamed for
or praised about
in terms of the economy.

It is what it is,
and will require some major changes in the structure of the republic
to get significantly better.

Worse, unfortunately, is always on the table with American Free Enterprise.

It was the right formula for the Industrial Revolution,
and now, it's an anachronism.

It's hard to change, however, because the shortsighted among us
have made it our national religion.
 
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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Link
 
T. A. Gardner said:
chart-02-of-03--labor-force-participation-rate-for-those-55-and-older.png
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I guess you didn't realize that there are about 12,000 people turning 65 every day.
Labor participation counts everyone over 16, even those that are over 80 and in nursing homes.
Since Jan of 2020 over 2 million people have reached retirement age.
According to the census bureau the percentage of the population over 65 has gone from 16.4% in 2020 to 17.3% in 2023.
That is very similar to the 1% change in the labor participation

https://www.census.gov/newsroom/press-releases/2023/population-estimates-age-sex.html rate.
 
From the title...."America Loves Bidenomics"

Latest chart I saw showed that 70% of Americans hate bidenomics while only 30% like it. Who the hell are these 30% besides the clueless
author of this post?
 
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