NASDAQ: "U.S. Job Growth Far Exceeds Expectations In July"
The report showed non-farm payroll employment spiked by 528,000 jobs in July after surging by an upwardly revised 398,000 jobs in June.
Economists had expected employment to climb by about 250,000 jobs compared to the addition of 372,000 jobs originally reported for the previous month.
The Labor Department said job growth was widespread, led by gains in the leisure and hospitality, professional and business services, and healthcare sectors.
Michael Pearce, Senior U.S. Economist at Capital Economics, said the stronger than expected job growth combined with a drop in the unemployment rate and a renewed pick-up in wage pressure "make a mockery of claims that the economy is on the brink of recession."
--------------------------
Circumstances can and do change, but for the moment fears of a serious recession aren't warranted...so I'm assuming there will be lots of 'Up Votes' in the morning over this news...(yeah, right ;-))
Link: https://www.nasdaq.com/articles/u.s.-job-growth-far-exceeds-expectations-in-july
Replies to: NASDAQ: "U.S. Job Growth Far Exceeds Expectations In July"
anytime more americans are working is good news. The participation rate and real wages are still
below pre-pandemic levels, so that is a worry.
Link: https://fred.stlouisfed.org/series/CIVPART
It's not enough to present data...you also need to analyze it and ask a lot of questions...
in this case, the labor participation rate is indeed lower than it was before COVID hit...BUT, it's much higher than it was at the low point...when Biden took office...what happened to cause that?...could it be the Stimulus Bill he enacted?...could it also be the aggressive distribution of vaccines that allowed more people to move about and avail themselves of services...and provide such services?...any way you look at it the LPR has improved dramatically during Biden's time in office.
Also, wrt to 'Real Wages'...why have they been declining for decades, only to rise suddenly during the pandemic?...how much is inflation affecting results?...what's really going on?...what does the future hold? (see link)...there are clearly many forces in play here...especially Inflation recently, which is largely due to COVID and Putin...not Joe Biden.
All of us have worries...but we don't need to add unnecessary ones...so, as an American citizen, enjoy the good news when it comes your way.
Link: https://www.dallasfed.org/research/economics/2022/0215.aspx
Thank you for the context.
(no message)
Thank God for Joe Biden and the Democrats.
(no message)
All Democrats are scum.
(no message)
Joe Biden: “Thank heaven for little girls…”.
(no message)
I have it on good authority, Biden’s handlers have been doing a terrible job.
(no message)