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Started By
Message
re: Atrocious jobs report just out: only 12k jobs created, previous 2 months revised down 112k
Posted on 11/1/24 at 8:02 am to RogerTheShrubber
Posted on 11/1/24 at 8:02 am to RogerTheShrubber
quote:
2025 might be a disaster for most of us, regardless who wins.
The 10-year yield has increased since the Fed cut rates, mainly because of strong employment data. As a result, mortgage rates have also gone up alongside the rise in the 10-year yield.
This could provide some relief to the 10-year yield, which might finally lead to a dip in mortgage rates but if people are losing jobs, many people still may not be able to afford a home so RE still might be fricked.
This post was edited on 11/1/24 at 8:04 am
0
Posted on 11/1/24 at 8:03 am to RogerTheShrubber
America, like a lot of developed countries, has a low birthrate, below the "replacement" rate.
Not as bad as China or some others, but still way low.
I'm paraphrasing some things I've read, but that's the gist of it.
Not as bad as China or some others, but still way low.
I'm paraphrasing some things I've read, but that's the gist of it.
Posted on 11/1/24 at 8:04 am to prplhze2000
quote:
Look at how many businesses can't find workers. Notice how many businesses now close earlier after the pandemic? Can't find a coffee shop in my area that stay open after six but for a couple. Kroger and Walmart now close at 11. Corner market at 9. Every business owner tells me how tough it is now to get workers.
Its been this way for a while. We have more jobs than people who are wiling to work.
Because we keep "growing" the economy with debt. It causes inflation, people cant live on working class wages.
Its a death spiral and there has to be a correction. The administrations "soft landing" they are trying to sell us just means more debt.
Posted on 11/1/24 at 8:06 am to N2cars
quote:
WFH dogwalkers...
I feel personally attacked
Posted on 11/1/24 at 8:06 am to N2cars
quote:
America, like a lot of developed countries, has a low birthrate, below the "replacement" rate.
And a rapidly automated economy.
Posted on 11/1/24 at 8:06 am to prplhze2000
quote:
Can't find a coffee shop in my area that stay open after six but for a couple. Kroger and Walmart now close at 11.
All that you are listing are low-skilled jobs that aren't desirable. Any decent job has no issue finding people.
The problem is people are too prideful to take the low-skilled jobs out of desperation if needed. The other issue is many people who usually fill these jobs make more off of welfare and food stamps they can apply for off of their free Obama phone.
Posted on 11/1/24 at 8:07 am to athenslife101
No way, i love dogs...
Just don't wanna pay you to do it.
Just don't wanna pay you to do it.
Posted on 11/1/24 at 8:10 am to HailHailtoMichigan!
Only 1 number matters
4.1
That’s the percentage of people unemployed
That’s all people care about
4.1
That’s the percentage of people unemployed
That’s all people care about
Posted on 11/1/24 at 8:10 am to prplhze2000
quote:
Can't find a coffee shop in my area that stay open after six but for a couple. Kroger and Walmart now close at 11. Corner market at 9. Every business owner tells me how tough it is now to get workers.
B/c those jobs pay shite
Posted on 11/1/24 at 8:12 am to SlidellCajun
quote:
Only 1 number matters
4.1
That’s the percentage of people unemployed
That’s all people care about
That number is still BS because it leaves out people who have just all together dropped out of the job market.
Posted on 11/1/24 at 8:12 am to N2cars
My dog is extremely feisty and when I work from home, she is not calm so I do have to take her for a lot.
Posted on 11/1/24 at 8:13 am to GetCocky11
quote:
B/c those jobs pay shite
Blame the govt for fricking up the dollar.
Posted on 11/1/24 at 8:16 am to RogerTheShrubber
quote:
Assuming we keep creating jobs, which will require more debt.
I disagree. The economy of the Obama years forced a lot of people to delay retirement. The awesome economy of the Trump years helped people make up some of the losses. Then Covid was basically free money kept a lot of people in the workforce that should’ve retired a long time ago.
So now you’re seeing a bunch of people leaving since companies have soured on remote working. There will be positions available.
Posted on 11/1/24 at 8:17 am to stout
quote:
All that you are listing are low-skilled jobs that aren't desirable. Any decent job has no issue finding people.
The problem is people are too prideful to take the low-skilled jobs out of desperation if needed. The other issue is many people who usually fill these jobs make more off of welfare and food stamps they can apply for off of their free Obama phone.
I know you've seen me talk about this before but I'll repeat myself.
This is why the "we need to bring back lower level manufacturing jobs" is such a silly talking point.
This level of jobs exist, has demand, and nobody wants to work in this tier.
There is even a huge demand in the next step up (skilled labor), which pay decent at first and have huge potential (well beyond lower level manufacturing) and nobody wants them, either.
If we bring these manufacturing jobs back, will people even want them?
Hell, remember stories from the chipmakers who set up shop here after that bill from Biden who complained about the workforce?
This post was edited on 11/1/24 at 8:18 am
Posted on 11/1/24 at 8:18 am to elprez00
Here is a breakdown of the jobs. Once again the Gov created a ton of jobs which makes the report way worse. That means private payrolls are shrinking outside of construction jobs
Posted on 11/1/24 at 8:18 am to HailHailtoMichigan!
So the original false report caused market reaction including increased mortgage rates, so what will market do now?
Posted on 11/1/24 at 8:19 am to SlidellCajun
quote:
That’s the percentage of people unemployed
The labor participation rate is still lower than pre-pandemic levels.
Particularly for white people.
Posted on 11/1/24 at 8:21 am to HailHailtoMichigan!
I’m middle class, it’s time to turn the page.
Posted on 11/1/24 at 8:21 am to HailHailtoMichigan!
You voted for it. Is this a thread spiking the football in our faces for your stupidity?
Posted on 11/1/24 at 8:24 am to stout
quote:
Once again the Gov created a ton of jobs
Thats all thats basically happening. Using debt to create gubment jobs, and most of us on this board arent the preferred hiring class.
Its worse than a house of cards because the govt is flat out lying about the economy.
quote:
The year after Black Lives Matter protests, the S&P 100 added more than 300,000 jobs — 94% went to people of color.
This post was edited on 11/1/24 at 11:07 am
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