Is the job market and the USA economy good?

[rambot]

What I've heard is happenning is a lot of new jobs but not necessarily all well paying ones.

There's no doubt stock markets are doing well but it seems not infrequent that that means veeeeery little to the middle and lower classes.

Ultimately Biden can't control greed and greed impact on Clarion is huge.

Go be mad at the large corporations and thr shareholders they are obliged to protect and pay

 

[rambot]

Companies are warier about hiring amid high interest rates and wages. Workers are vying with more job candidates for fewer openings, forcing them to send in more applications. And a large share of employees are jittery about getting laid off.

“Hiring is slowing across the board,” says Brad Hershbein, senior economist at the W.E. Upjohn Institute for Employment Research, based in Kalamazoo, Michigan.
Although net employment growth in the jobs report has been strong, much of the gains can be traced to fewer layoffs, Hershbein says.
Companies such as Amazon, Google, Citigroup and UPS have announced thousands of layoffs recently, but initial jobless claims, a broad gauge of job cuts, remain historically low. After grappling with COVID-19-related labor shortages, firms have been reluctant to let workers go.
But bumps in employment gains from fewer people leaving jobs can last only so long, economists say. Hiring needs to pick up to sustain payroll growth.

"Hiring needs to pick up to sustain payroll growth".... I'm not an economist major but
I know the English language pretty well.


Is the argument that because retention is good, the economy must be in turmoil or that it is about to be in turmoil?

 

[Fantine]

The working class has to reject the obsession with each others sex lives and other extraneous issue that has been forced on them and reunite as a political entity.

The working class needs to reunite on the issues that matter--fair wages, a strong social safety net, strong affordable higher education, non-discriminatory job opportunity.

 

[BCP1928]

The working class needs to reunite on the issues that matter--fair wages, a strong social safety net, strong affordable higher education, non-discriminatory job opportunity.

Bernie, is that you?

 

[Vambram]

"Hiring needs to pick up to sustain payroll growth".... I'm not an economist major but
I know the English language pretty well.


Is the argument that because retention is good, the economy must be in turmoil or that it is about to be in turmoil?

Did you miss the part about the multiple thousands of layoffs?

 

[NxNW]

Did you miss the part about the multiple thousands of layoffs?

What's the unemployment rate again? How many jobs were created last month?

 

[essentialsaltes]

Is the argument that because retention is good, the economy must be in turmoil or that it is about to be in turmoil?

Mainly it appears to be various contortions to assert that the grapes are actually sour.

 

[rambot]

Did you miss the part about the multiple thousands of layoffs?

Did you miss the part where there are always layoffs and that alone means nothing?

 

[CRAZY_CAT_WOMAN]

On a personal level it takes me about $400/month more to live .... and increases a little bit every month. The increase in my cost of living started right after the Biden Administration took over.

Actually, I noticed prices slowly started to increase, before Biden went the White House. Because of the COVID 19 restrictions were being lifted. And companies needed to make up the money. They lost during the pandemic. Maybe is Trump was more honest, and knew how to deal with the pandemic. They the pandemic would have been calmer and safer.

 

[Vambram]

The labor force participation rate in the US has been declining since the end of the recession in 2009, with a projected decrease of 2.0 percentage points to 60.9 percent in 2024.
The participation rate of the 16-to-19- and 20-to-24-year-olds has decreased considerably over the past couple of decades. The participation rate of the entire group of 16-to-24-year-olds was 66.4 percent in 1994 and declined to 61.1 percent in 2004.
The rate decreased by 6.1 percentage points, to 55.0 percent, in 2014 and is projected to decline to 49.7 percent in 2024.
Prime-age workers, those between the ages of 25 and 54, are projected to have a growth rate of 0.4% and are expected to make up nearly 64% of the labor force in 2024.0 In January 2024, the prime-age labor force participation rate ticked up to 83.3%.
The unemployment rate increased to a two-year high of 3.9% in March 2024.
The US government's labor force participation rate formula is the number of people ages 16 and older who are employed or actively seeking employment, divided by the total non-institutionalized, civilian working-age population.

Labor force projections to 2024: the labor force is growing, but slowly : Monthly Labor Review: U.S. Bureau of Labor Statistics

The labor force is projected to grow more slowly than in recent decades, because of slower population growth, the aging of the U.S. population, and a declining labor force participation rate.

www.bls.gov

Labor Force Participation Rate: Purpose, Formula, and Trends

The labor force participation rate is an estimate of the number of people actively engaged in the workforce.

www.investopedia.com

 

[Vambram]

The first post in this thread referenced an analytical article from the USA Today, which is known to be a website that leans towards the "left", and I believe that it would also be fair to call the USA today a liberal news source. Therefore, if a liberal news source such as the USA Today is posting warnings about the economy and the job market, why are those warnings being dismissed by the liberals here on CF?

 

[rambot]

The first post in this thread referenced an analytical article from the USA Today, which is known to be a website that leans towards the "left", and I believe that it would also be fair to call the USA today a liberal news source. Therefore, if a liberal news source such as the USA Today is posting warnings about the economy and the job market, why are those warnings being dismissed by the liberals here on CF?

Is it weird to see a political group not move in lock step?

 

[Vambram]

Is it weird to see a political group not move in lock step?

Maybe.

 

[BCP1928]

The first post in this thread referenced an analytical article from the USA Today, which is known to be a website that leans towards the "left", and I believe that it would also be fair to call the USA today a liberal news source. Therefore, if a liberal news source such as the USA Today is posting warnings about the economy and the job market, why are those warnings being dismissed by the liberals here on CF?

The economy is good overall. The decline in workforce participation by certain demographics is really a different problem.

 

[Vambram]

The decline in workforce participation by certain demographics is really a different problem.

Even with the prime age workforce, the USA is looking at a labor participation rate of only around 85%. I don't believe that there is only just one answer to seek improvement with that percentage. But even at only about 82-85% participation rate of the prime age workforce is a real problem for the economy and for America, imo.

 

[essentialsaltes]

How has "hiring slowed", when the February jobs number was bigger than January's?

And March was bigger than February?

 

[A2SG]

How has "hiring slowed", when the February jobs number was bigger than January's?

And March was bigger than February?

Can't have facts getting in the way of a good narrative.

-- A2SG, that could be the motto of the entire MAGA movement....

 

[Ceallaigh]

That is all that is needed in some circles to persuade public opinion. No need for facts. They distract from what we feel.

Public opinion on this is going to have a lot of basis in personal experience.

 

[Ana the Ist]

'I am losing my mind': Behind the rosy job numbers, Americans are struggling to find work

Job growth has been strong despite high inflation and interest rates. But beneath the surface, hiring has slowed and workers worry about unemployment.

www.usatoday.com

Hey Joe Biden, looks like Bidenomics ain't nearly as good as you and the rest of the ruling elitist class wants us Americans to believe!!

I saw a poll showing record numbers of Americans working multiple jobs to get by....

Let's just be honest. Job numbers are always manipulated as an indication of economic growth since George Bush Jr at least. He did it. Obama did it. Trump did it. Now Biden's doing it. The middle class is disappearing and they aren't ignorant to this fact.

 

[Ceallaigh]

I saw a poll showing record numbers of Americans working multiple jobs to get by....

Let's just be honest. Job numbers are always manipulated as an indication of economic growth since George Bush Jr at least. He did it. Obama did it. Trump did it. Now Biden's doing it. The middle class is disappearing and they aren't ignorant to this fact.

I like the combined message of everything is hunky-dory and the world is coming to an end.