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Apparently the rumors of our economic demise were greatly exaggerated. Yes, amid the gnashing teeth of the Wall Street pundits hoping for another lucrative Fed rate decrease, the Main Street economy continues to defy expectations:
“Today’s jobs report shows the U.S. economy continues to create jobs at a strong pace even as we enter the longest period of economic expansion on record.” ~Tony Bedikian, Citizens Bank.
According to the BLS Report – June saw 224,000 jobs added; and importantly the private sector wage growth knocks a very solid +3.2% year-over-year. [Table B-8] You might remember in the May 2019 jobs report 299,000 people moved from Part-Time to Full-Time employment. In today’s report total payrolls added another 224,000 workers.
originally posted by: Lumenari
a reply to: xuenchen
I'm loving this economy!!!!
That being said, some will come to your thread soon and point out that only the rich are making money and everyone else is doing worse now even though wages are rising and a full 17,000 of those new jobs were in manufacturing...
A sector we were never going to get back, according to the last president.
I'm still not tired of winning, however...
S&F!
As our friends at Morningside Hill calculate, a full 93% of the new jobs reported since 2008 - 6.3 million out of 6.7 million - and 40% of the jobs in 2016 alone were added through the business birth and death model – a highly controversial model which is not supported by the data. On the contrary, all data on establishment births and deaths point to an ongoing decrease in entrepreneurship.
originally posted by: ClovenSky
originally posted by: Lumenari
a reply to: xuenchen
I'm loving this economy!!!!
That being said, some will come to your thread soon and point out that only the rich are making money and everyone else is doing worse now even though wages are rising and a full 17,000 of those new jobs were in manufacturing...
A sector we were never going to get back, according to the last president.
I'm still not tired of winning, however...
S&F!
Man, I wish I would have thought to question the current spread between rich and poor. Isn't that at historical highs?
All I could think to question is how many of these jobs were illusion through the birth/death adjustment our benevolent government computes for us:
Granted the article is from 2017 but I imagine they are still doing it..
93% Of All Jobs "Created" Since 2008 Were Added Through The Birth/Death Model
As our friends at Morningside Hill calculate, a full 93% of the new jobs reported since 2008 - 6.3 million out of 6.7 million - and 40% of the jobs in 2016 alone were added through the business birth and death model – a highly controversial model which is not supported by the data. On the contrary, all data on establishment births and deaths point to an ongoing decrease in entrepreneurship.
But I am sure our government is being honest with us this time.
originally posted by: underwerks
So many new jobs added!
And a person still cant pay rent with 3 of them.
originally posted by: watchitburn
a reply to: underwerks
I've always called BS on the jobs reports from the BLS. I'm not going to stop now.
But anyone with 2 braincells to rub together can see the economy and employment are greatly benefiting from President Trump's economic policies.
Perhaps if you leftists weren't so blinded by your mindless media manufactured hate you would enjoy our country's prosperity too.
originally posted by: underwerks
So many new jobs added!
And a person still cant pay rent with 3 of them.
originally posted by: underwerks
So many new jobs added!
And a person still cant pay rent with 3 of them.
originally posted by: underwerks
So many new jobs added!
And a person still cant pay rent with 3 of them.
originally posted by: SituationNAFU
a reply to: Lumenari
" We need more trade schools now... more plumbers, electricians, etc."
This is 100% fact. I have been in the HVAC field 20 yrs, make damn good money, ( Entry level right out of tech school around here is 30-40k yearly, I'm right at 6 figures these days.) and could throw a dart at a map and get a job wherever it landed. There is a SEVERE shortage of skilled people in all the trades nationwide... it's like nobody wants to actually work anymore.
ETA: I also guarantee you no robot is going to take my job in the foreseeable future.