August jobs report is out...

  • 130k new jobs added and unemployment at 3.7% add to this the Fed and every real economist saying that there is no chance of a recession... the fed is not cutting interest because of how strong the economy is.


    Doesn't look like the left is gonna get that collapse of our economy that they so dearly want.....


    lazs

    "Don't let it end like this. Tell them I said something."



    Pancho Villa, last words (1877 - 1923)

  • Food stamps data:


    https://fns-prod.azureedge.net…files/34SNAPmonthly-9.pdf


    Quote


    The most recent USDA data shows that 6,268,285 individuals discontinued their participation in the Supplemental Nutrition Assistance Program (SNAP)— the program in charge of food stamps— since February 2017 when Trump finished his first month as president.

  • funny you should ask


    https://www.foxnews.com/opinio…ugust-jobs-strong-economy


    According to the Bureau of Labor Statistics (BLS), the number of people employed in August increased by a very impressive 590,000, pushing total employment to a record-high of nearly 157.9 million. The percentage of the population that was employed rose to 60.9 percent, the highest percentage since December 2008.


    As a result, despite over 570,000 people joining the labor force, the unemployment rate held at 3.7 percent, near a 50-year low. Unemployment among African Americans and Hispanics also hit all-time lows last month, proving that the ongoing economic boom is still creating unprecedented opportunity for all U.S. workers.


    Average hourly earnings increased at a healthy clip as well, growing by 3.2 percent since last August. It was the 13th month in a row that wages increased by at least 3 percent year over year. That’s tremendous news for American workers. Prior to this streak, wages last increased at least 3 percent in April of 2009.


    Wage increases were better for workers than managers. While the hourly wage increased 2 percent for managers, it increased an impressive 3.5 percent for workers. For workers earning the average hourly rate ($23.59) and working 40 hours per week, that meant a raise of nearly $1,650 for the year. And, that’s before the impact of reduced individual tax rates thanks to the Tax Cuts and Jobs Act, which saved the average U.S. worker approximately $1,400 in federal income taxes in 2018.

  • Minimum wage is not $15 an hour in free America.

    MNN on 6/18/19

    "chump will assuredly lose 2020 barring an event that cancels the election - he just cant keep his scummy yankee mouth shut"


    MNN on 6/24/19

    Chump is going to tote an ass kicking nov 2020

  • How many of those jobs are decent paying jobs? How many are part time jobs with people working more than one part time job?

    Pollywannacracker?


    Better lay off the CNN, before it’s too late.

    Backyard Commandos INC, HMFIC


    I disagree but I respect your right to be stupid.


    Winners focus on winning, losers focus on winners.


    It's hard for liberals with mental disorders to think that other people don't also have the same mental disorders. - Danneskjold 2018

  • Average hourly earnings increased at a healthy clip as well, growing by 3.2 percent since last August. It was the 13th month in a row that wages increased by at least 3 percent year over year. That’s tremendous news for American workers. Prior to this streak, wages last increased at least 3 percent in April of 2009.

    I was wondering when this would start showing in the statistics. Here locally, wages started to rise a couple years ago. Even before they were talking about raising the minimum wage in the state, historically minimum wage jobs had help wanted signs with starting wages above minimum. A little over two years ago, the warehouse I used to support made their first move in their wage scale in more than 7 years -- and then they had to make another move only a year later. They simply couldn't get people in the door to do the work. To get enough people, they raised wages. When applicants dropped off again, they raised wages again. A starting worker with no experience would have begun at $12.50/hr, and is now at $16.25 with talks that it may have to go up another 75c just to get us back to midpoint wage rate in the area.


    So, yes, the "little guy" is seeing real increases, at least in our area.

    Brauno in a previous life, followed by LTARget. E25280 on the Forum.

    SWtarget in last AH in game incarnation.

    "Proudly drawing fire so my brothers may pass unharmed."

    Brauno in World of Tanks.

    "What is, is. What was, will be. What will be, was, but will be again." - Horseshack from Welcome Back Kotter

  • Now you’ve done it, you went and destroyed the liberal narrative with facts. They will be coming for you now you racist.

    Backyard Commandos INC, HMFIC


    I disagree but I respect your right to be stupid.


    Winners focus on winning, losers focus on winners.


    It's hard for liberals with mental disorders to think that other people don't also have the same mental disorders. - Danneskjold 2018

  • https://thehill.com/policy/finance/460200-august-jobs-report



    Economy adds 130K jobs in August, falling below expectations



    The U.S. added 130,000 jobs in August, the Labor Department reported Friday, falling below expectations amid an escalating trade war with China and a slowing global economy.

    The August jobs report missed expectations after economists broadly projected employment growth closer to the 164,000 workers the U.S. added in July. The unemployment rate held steady at 3.7 percent, while the labor force participation rate rose to 63.2 percent, according to the release from the U.S. Bureau of Labor Statistics.

    While the U.S. economy has added jobs at a slower rate in 2019 than last year, it has remained largely resilient as European and Asian powers face sharper downturns amid rising trade tensions.

    But the August jobs report is not likely to soothe concerns that a global slowdown could trigger a recession within the U.S. after more than a decade of consistent economic growth.

    The private sector added just 96,000 of the 130,000 jobs gained in August, and 25,000 of the new workers added last month were short-term hires to conduct the 2020 census. That drags down the total number of jobs added in August to roughly 100,000, well below the gain of 195,000 private sector hires projected Thursday by the ADP Research Institute.

    Job growth in July was also revised lower by 5,000 jobs to a gain of 159,000 workers, and June’s gain of 193,000 jobs was cut to 178,000 new workers. The revisions drove the average monthly jobs gain in 2019 down to 158,000, well below the 223,000 average monthly gain in 2018.

    Though the U.S. is expanding at a slower rate, economists said that the economy is still adding jobs and growing the workforce fast enough to keep unemployment near record lows.

    “This pace is faster than you need to keep the unemployment and participation rates constant,” tweeted Jason Furman, chairman of the White House Council of Economic Advisers under former President Obama.

    Furman also called the labor force participation rate increase “a big improvement for this stage of the recovery, especially when demography should be pulling the employment rate down.”

    While the U.S. is adding enough jobs on aggregate to maintain the expansion, key industries on the frontlines of Trump’s trade war with China and battles with Europe have struggled to keep up.

    Employment was little changed in the construction, manufacturing, transportation and warehousing industries. Analysts attribute some of the turbulence to a slowdown in U.S. exports, higher prices for goods subject to Trump’s tariffs and flagging business investment amid an escalating trade war.

    “Factory job growth has clearly stalled. Two very weak months with nominal gains of 4k (July) and 3k (August),” tweeted Scott Paul, president of the Alliance for American Manufacturing, a trade group advocating for U.S. manufacturers.

    Updated at 9:18 a.m.

  • That chart nicely illustrates how President Obama cleaned up Dubya's economic crash, and Tinyhands benefited from a continuation of the Obama Recovery.

    Only if you're a retard. The Bush Blue line. Look at where it was before 2008.


    Obama took office in January 2009 and then that blue line dropped like a fucking rock and never even made it halfway back.


    The end of 2008 was when the housing bubble hit and temporarily killed the economy.


    Now look at the RED line dummy. Part time jobs were all people could get after Obama destroyed jobs with Obummercare.



    You really must have an IQ of about 65

  • https://www.forbes.com/sites/c…rt-vs-obama/#113e344a8caa




    Trump Is Falling Almost 1 Million Jobs Short Vs. Obama

    Chuck JonesChuck JonesSenior Contributor

    MarketsI cover technology companies, worldwide economies and the stock market

    President Trump Holds Signing Ceremony

    U.S. President Donald Trump. (Photo by Mark Wilson/Getty Images)

    GETTY IMAGES

    The U.S. Bureau of Labor announced that the economy added 224,000 jobs in June vs. expectations of 160,000 and May’s revised result of 72,000. The 224,000 is still strong, but there were revisions to April and May that subtracted 11,000 people hired in those months and government employment added 33,000. Overall private payrolls added 191,000 employees.

    The stock markets are reacting negatively due to the jobs number being stronger than expected since investors are lowering their expectations that the Fed will cut interest rates by 50 basis points later this month. A 25 basis point downward move is still being priced into the market, but that may wind up being optimistic due to the strong report.

    President Barack Obama signed the bill H.R.

    President Barack Obama. (Photo by Cheriss May/NurPhoto via Getty Images)

    NURPHOTO VIA GETTY IMAGES

    ADVERTISING

    inRead invented by Teads

    Over 29 months Obama added almost 1 million more jobs than Trump

    Today In: Money

    Trump entered office on January 20, 2017, and starting with February 2017 he has been President for 29 months. Total job growth during that time has been 5.613 million or 194,000 per month with those results being helped by the tax cut.

    Working back from January 2017, Obama’s last month in office, there had been 6.423 million jobs added or 221,000 per month. The difference for the 29 months is 810,000 more jobs or 27,000 more per month than Trump.

    PROMOTED

    Civic Nation BRANDVOICE


    Young People Deserve A Voice In Our Elections. Same Day Registration Can Help.

    Grads of Life BRANDVOICE


    8 Principles To Build A Strong Foundation For STEM Pathways

    Mitsubishi Heavy Industries BRANDVOICE


    Oil & Gas Outlook – Embracing Change From Now To 2040

    Note that back in January this year the total difference was only 194,000, which means over the past five months it has increased by 616,000. And looking at the next six months with Obama’s job numbers of 188,000 to 327,000 per month, the gap should only increase and cross 1 million.

    Job growth under Presidents Bush, Obama and Trump

    Job growth under Presidents Bush, Obama and Trump

    GRAPH COURTESY OF JOEL D. SHORE, BASED ON EMPLOYMENT DATA FROM THE U.S. BUREAU OF LABOR STATISTICS

    Job growth is slowing down

    To help smooth out any one months result it is worthwhile to look at 3, 6 and 12-month trailing numbers. You can see the slowdown in the number of jobs being added when you look at these averages.

    • 12 month per month average of 192,000 equals 2.3 million per year (and the second month in a row it has been under 200,000 per month)
    • 6 month per month average of 172,000 equals 2.07 million per year
    • 3 month per month average of 171,000 equals 2.05 million per year
    Job growth and three month average

    Job growth and three month average

    CAPITAL ECONOMICS AND REFINITIV

    Not the best economy ever

    The underlying economy is weaker than perceived when you look at March quarter’s GDP numbers and railroad traffic taking a significant downward move over the past month. If the economy continues on this path it could enter a recession when few are forecasting one with one reliable indicator foreshadowing a downturn in the next 6 to 18 months. It could become a self-fulfilling prophecy as almost 70% of CFO’s are predicting a recession by the end of 2020.

  • I'm sorry that you find reality so confusing. As the chart shows, the crash started during the Dubya Administration. The economy continued to freefall for the first few months of the Obama Administration. It's unfortunate that President Obama wasn't able to immediately clean up the disaster that he inherited from Dubya. It took a little time. But he did clean up the mess, just like Clinton cleaned up Bush Sr's mess.