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re: Biden's broke generation
Posted on 4/2/24 at 11:42 pm to AndyCBR
Posted on 4/2/24 at 11:42 pm to AndyCBR
quote:
I'd say that is based on perception and very industry specific. The labor participation rate is at historic lows, many people are out of the workforce due to lack of work. There are plenty of layoffs from some of the largest, and most well performing companies in the country (Amazon, Google, etc.) To say "it's a strong job market" is a glass half full statement at best.
It should be shrinking, but it's not. We should expect to feel some economic discomfort while trying to ease inflation. In that context, it's a strong job market right now.
It was particularly funny that the article describing the job market as being strong came out today as February numbers were just released. The OP could have timed his lament a little better.
1
Posted on 4/3/24 at 5:10 am to WildTchoupitoulas
quote:
It was particularly funny that the article describing the job market as being strong came out today as February numbers were just released. The OP could have timed his lament a little better.
quote:
the Philly Fed, found that the BLS had overstated payrolls in 2022 by 1.1 million, here we go again, only this time the BLS had overstated payrolls by 800,000 through Dec 2023 (and more if one were to extend the data series into 2024). It's truly statistically remarkable how every time the data error is in favor of a stronger, if fake, economy.
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