Biden Jobs Boom

7,245 Views | 107 Replies | Last: 8 mo ago by Unit2Sucks
dajo9
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528k jobs were added in July beating all estimates. The unemployment rate is now the lowest it has been in 50+ years at 3.46%. Hispanic unemployment is at a record low of 3.9%.
All while commodity prices dropped in July (inflation reports not out yet).

The media reporting fixating on inflation whole ignoring the jobs boom is, well, par for the course of how they treat Democratic Presidents.
American Vermin
Unit2Sucks
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GoOskie
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When can we expect barefarce to post an unrelated tweet from some demented trumper in response to this?
SBGold
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Fantastic news, employ Americans and stay the course
BearForce2
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dajo9 said:

528k jobs were added in July beating all estimates. The unemployment rate is now the lowest it has been in 50+ years at 3.46%. Hispanic unemployment is at a record low of 3.9%.
All while commodity prices dropped in July (inflation reports not out yet).

This is misleading since an overwhelming number of those jobs were jobs added back and not newly created jobs. The unemployment rate is now the same as it was back in February 2020 right before the pandemic started.
The difference between a right wing conspiracy and the truth is about 20 months.
BearForce2
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Unit2Sucks said:



Gas is still $1.72/gal higher than when Biden took office. Biden blamed Putin for the price hike, is he giving Putin credit for falling prices?

Inflation is at record highs, real wages are falling, over half of Americans are living paycheck to paycheck, and we are in the beginning of a recession.
The difference between a right wing conspiracy and the truth is about 20 months.
AunBear89
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BearForce2
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GoOskie said:

When can we expect barefarce to post an unrelated tweet from some demented trumper in response to this?


Who's running the country? Someone is messing with Biden's teleprompter again.
The difference between a right wing conspiracy and the truth is about 20 months.
BearForce2
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SBGold said:

Fantastic news, employ Americans and stay the course
The difference between a right wing conspiracy and the truth is about 20 months.
sycasey
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The jobs numbers, by the way, are the main reason why economists have been reluctant to say the US is in a recession, despite the decline in GDP. A real recession usually involves jobs being lost.
Unit2Sucks
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sycasey said:

The jobs numbers, by the way, are the main reason why economists have been reluctant to say the US is in a recession, despite the decline in GDP. A real recession usually involves jobs being lost.


We don't have enough workers because we've become too hostile to immigration. If we had a bigger better workforce we might see net job losses but right now we still don't have enough workers. I expect to see unemployment rise soon though. You can't fight the Fed.
dajo9
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BearForce2 said:

Unit2Sucks said:



Gas is still $1.72/gal higher than when Biden took office. Biden blamed Putin for the price hike, is he giving Putin credit for falling prices?

Inflation is at record highs, real wages are falling, over half of Americans are living paycheck to paycheck, and we are in the beginning of a recession.


How much higher is GDP than when Biden took office. How many more jobs are there than when Biden took office? How much lower is unemployment than when Biden took office?
American Vermin
Unit2Sucks
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Dollar is strong too. Such strength. Like you wouldn't believe but I do. Most people don't know how strong the dollar is.
concordtom
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sycasey said:

The jobs numbers, by the way, are the main reason why economists have been reluctant to say the US is in a recession, despite the decline in GDP. A real recession usually involves jobs being lost.


Republicans are working on uncovering the fraud behind the employment stats!
Wait for it.
dajo9
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Lol at the media. They just can't wait to bury Democratic Presidents.
American Vermin
concordtom
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Stock traders have always made up their minds how they will trade one way or another before the numbers are released.

Here we see that politically motivated news orgs also pre-determine their actions.

Back to the drawing board this month.
DiabloWags
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Jobless claims are holding near the highest levels of 2022, around 260,000.

Data could be "noisy" due to seasonal swings and pandemic related comparisons.

10.7 million job openimgs as of June.
A decrease of 600,000 from May.
dajo9
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American Vermin
dajo9
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This Brandon guy kicks ass
American Vermin
GoOskie
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Yea but what about ma gas stove and M&Ms?
This just in: Republicans find another whistleblower who claims Hillary's emails were proven to be on Hunter's laptop while Obama spied on tRump as he sat (shat?) upon his golden toilet. Gym Jordan afraid whistle blower may be in danger of abduction by aliens in cahoots with Democrats.
dajo9
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The only thing crazier than restaurant prices are the lines for waiting to be seated
American Vermin
DiabloWags
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dajo9 said:

This Brandon guy kicks ass.


I would suggest looking "under the hood" at that GDP number. It wasnt that great.

Final sales to private domestic purchasers ....a category that excludes the effects of inventory swings, trade, and government spending --- grew at a paltry 0.2% annual rate.

For contrast, that number was 1.1% in Q3.



"Cults don't end well. They really don't."
dajo9
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Huge jobs numbers under President Biden

American Vermin
AunBear89
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dajo9 said:

Huge jobs numbers under President Biden



GOP response: "Yeah, but if we lie enough times saying we are in a recession and it's all Biden's fault, our moron base will believe it and continue to vote for us against their best interests."
"There are three kinds of lies: lies, damned lies, and statistics." -- (maybe) Benjamin Disraeli, popularized by Mark Twain
DiabloWags
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So far, he's up over $4 BILLION on having sold 180 million barrels of crude oil out of the SPR.

The U.S. sold at an average price of $96 per barrel.

March Crude Oil Futures closed today at $73.27

"Cults don't end well. They really don't."
dimitrig
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dajo9 said:

Huge jobs numbers under President Biden



I am going to say the same thing I said when Trump was President, which is that the President doesn't have much control over any of this.


Ursine
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dajo9 said:

Huge jobs numbers under President Biden



Eastern Oregon Bear
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Ursine said:

dajo9 said:

Huge jobs numbers under President Biden



So the person doesn't like the news story but can't be bothered to explain what's wrong with it. Very helpful.

<Yawn>
dajo9
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Record setting numbers. Black unemployment also at record lows. Everything Trump promised, Biden is delivering.



American Vermin
AunBear89
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Proving, once again, that facts have a Liberal bias.
"There are three kinds of lies: lies, damned lies, and statistics." -- (maybe) Benjamin Disraeli, popularized by Mark Twain
dajo9
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American Vermin
calbear93
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dajo9 said:




Aren't we trying to bring up the unemployment rate to slow down the service/wage inflation that remains sticky? We don't want a double dip inflation. As such, wouldn't the FED be less inclined to ease anytime soon as long as unemployment remains low with inflation still higher than target?
dajo9
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calbear93 said:

dajo9 said:




Aren't we trying to bring up the unemployment rate to slow down the service/wage inflation that remains sticky? We don't want a double dip inflation. As such, wouldn't the FED be less inclined to ease anytime soon as long as unemployment remains low with inflation still higher than target?


CPI ex Shelter was 2.9% in March. Shelter is sticky and lagged because it takes time for leases to catch up to spot rates. We'll get new inflation numbers in a few days but right now I think we should be ecstatic to be where we are with inflation and have such great job numbers.

The Fed has the option to bury the economy. Instead I think they should aim for the win.
American Vermin
concordtom
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Interesting new thread because if one were to listen to certain outlets (Trump, et al) the economy is completely in the crapper.
dajo9
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concordtom said:

Interesting new thread because if one were to listen to certain outlets (Trump, et al) the economy is completely in the crapper.


Corporate news always reports an economy in the crapper when a Democrat is President. Yet the numbers from recent history speak for themselves.
American Vermin
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