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re: April jobs number 175k, well below 240k estimates. Markets rally
Posted on 5/7/24 at 5:40 pm to buckeye_vol
Posted on 5/7/24 at 5:40 pm to buckeye_vol
quote:
I just don’t understand this incessant need to find every little reason why something is bad whenever an economic report is released. If it’s a really good report, then y’all will find some obscure, highly volatile metric, that nobody has focused on before, even when the metric was worse in previous administrations to use as some sort of canary in the coal mine for a bad economic situation.
Meh, I think you have it backwards. Too many people just look at the headline number and draw sweeping conclusions about the strength of “job growth” when the devil is in the details. Look back at my post that you quoted and you will see that I was responding to the assertion on the OP that we have been experiencing strong job growth. In fact, the US has been shedding full time jobs for over a year now. And if you look at the job numbers for native born vs foreign born, the numbers are pretty eye opening.
The sky is not falling, but it strikes me as wrong to talk about strong job growth in the face of the actual numbers.
Posted on 5/8/24 at 5:02 pm to SloaneRanger
You are persistent. I'll give you that. You are too focused on part-time vs full-time. I don't see that migration as one out of necessity, but rather from companies maximizing profit by reducing benefits. Do you not agree that most people that want a job can get one? We all know that employers can't get enough lower waged workers as evidenced by the many signing bonuses that didn't exist previously in those pay ranges. The fact that many are not full time is not an indication of weakness in the economy. I can not speak broadly on all levels of jobs, but the higher paying career type industries I am familiar with are also looking for new employees. The occasional layoffs in the news do not scream economic problems to me either. Quite a few of those companies are managing current year profits and are usually hiring soon after a layoff. They also use "layoffs" as a way to eliminate marginally productive employees.
Job growth is not a weakness in our current economy, except to say we need a slightly higher unemployment rate as others have described.
Job growth is not a weakness in our current economy, except to say we need a slightly higher unemployment rate as others have described.
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