Bidencrimefamily » 12 Jan 2024, 12:21 pm » wrote: ↑
The U.S. labor market ended the year strong, creating more than 200,000 jobs in the last month of the year and nearly 2.7 million jobs in all of 2023, when seasonally adjusted. Consumer spending remained robust throughout the year, with bright spots in travel and entertainment.5 days ago
https://www.cnbc.com › 2024/01/07
Opinion | 5 ugly details the Biden admin won’t tell you about the December jobs report....
First, the BLS reported an increase in nonfarm payrolls of 216,000 in December, which beat Wall Street’s expectations. But that increase comes on the heels of November and October being revised down by 71,000 payrolls. One-third of the jobs allegedly added in December were ones we thought we already had.
The second red flag is the unemployment rate. At first glance, a steady rate of 3.7% sounds great, but it wasn’t in December. The rate stayed low because about 680,000 people left the workforce and were no longer counted as unemployed. The labor force participation rate fell all the way back to where it was in February.
Third on the list is the kinds of jobs being created: they’re all part-time. Last month, the economy shed a whopping 1.5 million full-time jobs, the biggest monthly plunge since 2020 when the government made it illegal for people to go to work. That wiped out essentially all the full-time jobs that had been gained in 2023.
Fourth, the supposed job growth last month was disproportionately government jobs, accounting for about one-quarter of the total. That’s troubling because you need many private-sector jobs to support a single government one through tax revenue, and a three-to-one ratio is insufficient. This is simply untenable.
A fifth concern from the BLS data is that native-born workers have been left behind for the last three years. The employment level of these Americans is millions below its pre-pandemic trend, while foreign-born workers returned to their pre-pandemic trend over a year ago.
https://www.foxnews.com/opinion/5-ugly- ... obs-report
you suck at this....
“Show me the man and I’ll find you the crime”
LAVRENTIY BERIA
"Try to get past your passionate ignorance and learn to accept what actually happened."
brown's unheeded words of wisdom