Biden economy adds 277k jobs last month

Walt said:
The primary sacrifice to prevent inflation is raising the interest rates until something breaks. That involves breaking something, and causing a lot of unemployment.
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What am I missing here? When did Biden raise interest rates?
 
T. A. Gardner said:
This is interesting. 227,000 jobs added, long-term unemployment is unchanged, unemployment is flat and virtually unchanged. The labor participation rate is 62.5 percent and unchanged.

Reading through the whole report

www.bls.gov

Employment Situation News Release - 2024 M11 Results

www.bls.gov www.bls.gov

Pretty much says that about 200,000 of these jobs are seasonal, temporary, part time ones taken on mostly by people already employed as second jobs to earn extra money for the holidays.

That is, the labor market sucks if you are looking for long-term, stable, good paying employment.
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Wall Street Journal: "The latest nonfarm payrolls report suggested the labor market remains in decent health."

Anonymous internet poster TA Gardner: This jobs report is a disaster!
 
Cypress said:
Wall Street Journal: "The latest nonfarm payrolls report suggested the labor market remains in decent health."

Anonymous internet poster TA Gardner: This jobs report is a disaster!
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Just because some journalist says it doesn't make it true. You are making an appeal to authority fallacy.
 
The Trump Administration said:
Is that so?

Google says, "In October 2024, the U.S. economy added only 12,000 jobs, marking the slowest growth since 2020. This figure fell significantly short of the anticipated 100,000 increase and the 223,000 jobs added in September. Additionally, job gains for August and September were revised downward by a total of 112,000."
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Job growth slowed in October because of all the hurricane disruptions.
 
T. A. Gardner said:
Just because some journalist says it doesn't make it true. You are making an appeal to authority fallacy.
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Federal Reserve Chairman Jerome Powell: “The US economy is in very good shape, and there’s no reason for that not to continue"

Wall Street Journal: "The latest nonfarm payrolls report suggested the labor market remains in decent health."

Anonymous internet poster TA Gardner: This jobs report is a disaster!


https://www.google.com/amp/s/amp.cnn.com/cnn/2024/12/04/economy/fed-chair-powell-trump-dealbook
 
Cypress said:
Federal Reserve Chairman Jerome Powell: “The US economy is in very good shape, and there’s no reason for that not to continue"

Wall Street Journal: "The latest nonfarm payrolls report suggested the labor market remains in decent health."
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Two more appeals to authority, sex pest? :rofl2:
 
cawacko said:
Ben Casselman is the liberal NY Times economics reporter (although to his credit he's a liberal, not an ideologue). Here's what he had to say:



https://twitter.com/x/status/1865027685656715752
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Nothing earth shattering here either way. Inflation numbers come out next week then we see what the Fed does with rates at its next meeting.

But what I would give to see someone explain how the dot com bubble burst and we went into a recession yet that is considered a 'good and growing economy'. I am truly intrigued.
 
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