I could develop a thing for Whitmer.
US economy adds 353,000 jobs in January
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US economy has created nearly 15 million jobs since January 2021
www.cnn.com
Live updates: Another shockingly good jobs report shows America's economy is booming
The US economy added a whopping 353,000 jobs last month, far more than the 176,500 jobs expected. It's yet another data point that underlines the country's economic strength, even in the face of 11 rate hikes from the Federal Reserve.
It's nice that a few posters are putting up content, but there's still mostly bullshit, so here's some more content.
Private sector employment is up by 5 million jobs.
Local government employment is only up by about 18,000 jobs, and state government employment is only up by about 89,000 jobs. These numbers are trivial compared to the huge increase in private sector employment.
Surging GDP has rebounded back to its pre-pandemic trajectory.
Inflation is back down to about 3 percent. (Also, inflation was a global problem arising from the pandemic; critics can't explain how Bidenomics boosted inflation in Europe, for example.)
At 3.7 percent, the unemployment rate is almost back down to the historic low it reached just before the pandemic.
Real wages are higher now than they were before the pandemic.
The US economy is the envy of the world. People complaining about this can rightly be dismissed as cranks, rubes, and blinkered partisans.
Private sector employment is up by 5 million jobs.
Local government employment is only up by about 18,000 jobs, and state government employment is only up by about 89,000 jobs. These numbers are trivial compared to the huge increase in private sector employment.
Surging GDP has rebounded back to its pre-pandemic trajectory.
Inflation is back down to about 3 percent. (Also, inflation was a global problem arising from the pandemic; critics can't explain how Bidenomics boosted inflation in Europe, for example.)
At 3.7 percent, the unemployment rate is almost back down to the historic low it reached just before the pandemic.
Real wages are higher now than they were before the pandemic.
The US economy is the envy of the world. People complaining about this can rightly be dismissed as cranks, rubes, and blinkered partisans.
This is the disconnect. Jobs are great and inflation has slowed but prices haven't come down.US economy has created nearly 15 million jobs since January 2021
Live updates: Another shockingly good jobs report shows America's economy is booming
The US economy added a whopping 353,000 jobs last month, far more than the 176,500 jobs expected. It's yet another data point that underlines the country's economic strength, even in the face of 11 rate hikes from the Federal Reserve.
WASHINGTON—President Biden likes to talk about “jobs, jobs, jobs” when touting his economic record. The problem is that voters are far more worried about prices, prices, prices.
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Up where I am in northern Palm Beach County one recent trend is people who moved down here from up north buying summer homes up there, keeping their FL home, and doing airbnb / VRBO on their home here when they aren't using it, with a local person managing cleaning & maintenance.
One of my neighbors did that, moved back to TN, cheaply I guess, and are probably paying for that with what they get off the FL property in short term rentals.
Must be a headache though. I imagine some airbnb-ers trash the places they stay, or take stuff if you aren't there.
must be nice! damn. i have a close friend who bought a house in the mountains of north carolina who is doing that with her house in ocean ridge south of palm
not one thing in that post has to do with prices which is what americans are struggling with - whether it be homes or cars or rents or groceries. they're just running up credit card debt to get by.
I'm certainly no economist, so I'll yell into the void:
Do prices generally decrease in response to improving indicators like lower unemployement and falling inflation? Like, is that a thing that normally happens. My gut would say yes, but then I think of vehicle prices. They certainly have not fallen to pre 2021 levels. While down, there is little likelihood they even return to an adjusted price that makes sense. I doubt collusion but it seems like prices remain inflated.
AGain, it might be that prices just lag other improving economic indicators. I don't know.
Or it's all rigged.
i don't know either but houses, cars, etc as you say aren't coming down and that's what people care about. great to have a job but no fun to work all week and still not afford your basic bills. maybe we just have to wait on wages to catch up (not to the current inflation rate) but to the increases over hte last three years, which is the salient marker. maybe stuff like below will eventually help.
Half of US tenants can’t afford to pay their rent. Here’s what’s ahead
Half of renters in the United States have found themselves paying more than they can afford, following years of surging rents. But an increase in the construction of multiple-unit buildings has boosted the supply of apartments, which is slowly beginning to rein in runaway rents.
Part of the increase in car prices is the tech investments. EVs are still high priced, have gone down some, but are actually priced too low for car companies to make any money on them. VW stated this just the other day, that they are selling below cost right now. But the companies seem to be chalking it up to the cost of breaking into a new changing market, with cars that in many places (CA) will be the only allowable type of new car to sell by 2035.
Auburn is 25 miles North East of Fort Wayne. Has the Auburn, Cord, Duesenberg museum a couple breweries, a nice town square and my mother lives there.
the cranks, rubes and blinkered partisans would like to know why total FY 2023 federal revenue fell to $4.11 T from $5.03 trillion in F.Y 2022 since federal revenue is directly related to income and payroll taxes.
They printed a shit ton of money is why prices aren’t and won’t fall in fiat terms. That’s how the system is designed.
You are correct. Now come to the light my friend.
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Yeah, but that’s not how people “feel” and all anyone ever says is “that dang Biden” and “damn inflation”.
The MAGAts can vote for Trump all they want, but their grocery bill ain’t coming down, neither are a lot of other prices, but they’ll “feel” better about where they are.
that's like cannabis!!! thought that would print money but it's super hard. taxes, regulations, black market, having to sell cheap to retail, can only sell in the state you're in blah blah blah. just another hard business
A
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But if Trump gets elected the issue will then become "well, Biden ruined it so bad that not even Trump could fix it"
lmao
Not discussed in this thread is the obvious opportunity for young workers taking advantage of Boomers retiring at an increasing rate.
no not at all. there's soooo much gobbledygook in this thread when it's very simple. just listen to people. it's prices. that's what they are concerned with: prices. this isn't hard. and trump wiht his tariffs may actually make that even worse. what's more he was culpable in the free cheese lottery too wiht his excitement over seeing his name on checks.
this doesn't have to be a yabbut. not all things are. for people to feel better wages need to go up/prices down
I would agree there's a lot of feelings and perceptions playing a role, but prices remain elevated for a great many good. Energy prices (at least in the US) have fallen over the past year which has helped to drive down overall CPI.
But housing, cars, and other durable goods remain elevated. So, it's not ENTIRELY feelings. But I suspect many people who are better off than they were 5 years ago still don't believe this could be possible with Biden as president. I tned to agree with Marv, presidents to little to steeer the economy.
Guess who‘s back, back again
Rockfish is back, tell a friend…..
Dude, did a frolfball hit you in the head while you were typing that last sentence?
No.
Overall prices almost have never come down in modern history. That would be referred to as deflation and usually only occurs in downright horrible economic situations. The Great Depression was the last significant deflationary period in the US.
CPI went very briefly negative in 2009 for like a Qtr. It's a VERY bad thing... something the Fed will do anything to avoid. Look up deflationary spiral. No bueno.
Disinflation, on the other hand is what the Fed is shooting for.. basically lowering the inflationary rate.... Hopefully to their 2% target.
Why not 1%? I’d prefer to lose less of my purchasing power each year.
Haven't dug into it deeply.. But my immediate guess is that capital gains receipts were much lower in 2023. Tax revenues jumped abnormally high in 21 and 22, things appear to be returning to the more normal long term trend line when it comes to tax revenue.
Will lead to greater unemployment. There’s a sweet spot
And thanks to Joe and his dynamic economic team, the US is meeting that sweet spot, balancing jobs, inflation, unemployment, and growth. Thanks Joe!
That would usually signal rather anemic economic growth. We basically had that from 2009-2014ish when inflation was very low, but the economy was not really doing well.
Why would you lose any purchasing power, unless you are just stuffing cash under your mattress? Money market accounts are paying 5% and inflation is 3%. You should be at least getting raises to match inflation, hopefully more than.
um 80% are worse off since joe took office. Thanks Joe!
A staggering 80% of American households are worse off than they were before COVID-19 — how to shore up your finances now before a strong current carries them away
Only the richest 20% have held onto their COVID savings.
and half of americans can't afford rent
and credit card debt is at an all time high. Hmmm wonder why. Thanks Joe!!!
Message to MAGA:
"It is ABSOLUTELY imperative that you not feel confident about the future. America is a terrible place. It is falling apart. The economy is in shambles and your personal economic situation is a garbage fire.
"Darkness is everywhere. Living is anguish. All hope is lost.
"Only by embracing these America-first beliefs, and believing Trump is the one person who can fix everything and make life perfect, will you be able to declare yourself a true MAGA loyalist.
"So get out there, fellow patriot, and disconnect from Biden’s economy. Sell [your soaring] stocks, put your retirement money in Trump’s coffers, embrace the gloom. When it comes to Biden’s hot economy, remember this: Go broke or you're woke."
True MAGA patriots must remove themselves from Biden’s booming economy, cash out 401(k)s
America's economy appears to have gone woke and is now fully supporting the reelection of Crooked Joe Biden.
www.usatoday.com
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