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| Economy |
| Latest BLS report shows continuing weakness in USA economy |
| 2024-09-06 |
| Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate changed little at 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in construction and health care. Both the unemployment rate, at 4.2 percent, and the number of unemployed people, at 7.1 million, changed little in August. These measures are higher than a year earlier, when the jobless rate was 3.8 percent, and the number of unemployed people was 6.3 million. -------------- 1st para summarizes the payroll survey [a healthy economy would produce 300k+ new jobs], 2nd para summarizes the household survey. Additional info in the report includes a decrease in previously reported job gains in June and July (which weren't that great to begin with), a slight decrease in temporary layoffs, a decent increase in average wage and a small increase in the average workweek. It increases the odds that the Fed will make a 50 basis point decrease in the Federal funds rate in two weeks. |
| Posted by:Lord Garth |
| #9 Wait wait wait wait...you mean we can't just print money endlessly while making it as difficult as possible for actual working Americans to actually *produce* something that can then be actually paid for and sold...for years on end...without it affecting the economic numbers??? I swear liberals are stupid as fuck, and their leaders know better but are so deep in the grift that they have never bothered to care. |
| Posted by: Crusader 2024-09-06 19:47 |
| #8 I should probably add that its almost certain that a lot of illegals are employed in landscaping, nursing and health care and hospitality (I saw one estimate that in NYC there are probably over 1000 illegals working as dishwashers in restaurants). I'm not sure if they are counted in the BLS data. Also a lot of people work for companies like instacart, uber, etc. where they may be double counted (by the employer of the service and by the company). |
| Posted by: Lord Garth 2024-09-06 17:48 |
| #7 ^ Regarding the payroll survey- probably there are some illegals in the payroll numbers, all the big employers use E-Verify and most of the smaller ones do also. However, there are some loopholes and techniques to evade detection. There are some AI methods to spot these but they are not mandated and few companies use them. Regarding the household survey - could be some illegal employees, for example, an illegal residing in a household with legal immigrants. It would be quite difficult to do an analysis of this. |
| Posted by: Lord Garth 2024-09-06 15:55 |
| #6 Anytime they speak of employment increased by ###,### data, I asked the same question. Are they including Illegals employed in their numbers? |
| Posted by: NN2N1 2024-09-06 14:58 |
| #5 "Two stats are everything you need to know about the August jobs report: Jobs for native born Americans over the last year: -1.3 million Jobs for foreign-born workers over the last year: +2 million Full time jobs: -438,000 Part times jobs: +527,000 — Greg Price (@greg_price11) September 6, 2024" |
| Posted by: NoMoreBS 2024-09-06 14:56 |
| #4 Spirit Halloween announces major expansion due to empty storefronts |
| Posted by: Frank G 2024-09-06 12:35 |
| #3 Friday's jobs report for August has huge implications for 401(K)s and those buying homes |
| Posted by: Skidmark 2024-09-06 12:25 |
| #2 BLS There's no 'L' in bullshit. Oh wait...there is! |
| Posted by: Skidmark 2024-09-06 12:14 |
| #1 Really? Oh Noos. I am shocked! |
| Posted by: ed in texas 2024-09-06 11:51 |