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Started By
Message
May Jobs Numbers: +339,000, Unemployment 3.7%
Posted on 6/2/23 at 9:05 am
Posted on 6/2/23 at 9:05 am
Glad we have ole Brandon on the job!
CNBC
CNBC
quote:
Payrolls in the public and private sector increased by 339,000 for the month, better than the 190,000 Dow Jones estimate and marking the 29th straight month of positive job growth.
The unemployment rate rose to 3.7% in May against the estimate for 3.5%, even though the labor force participation rate was unchanged. The jobless rate was the highest since October 2022, though still near the lowest since 1969.
20
Posted on 6/2/23 at 9:05 am to BengalOnTheBay
Shall we wait for the revisions or nah?
Posted on 6/2/23 at 9:06 am to BengalOnTheBay
Until they adjust the numbers to the real ones in 5 months when no one is looking
Posted on 6/2/23 at 9:07 am to BengalOnTheBay
I don't have to explain to you that an unemployment rate below 4% is absolutely phenomenal, right?
Posted on 6/2/23 at 9:12 am to GoblinGuide
quote:
I don't have to explain to you
Please please, we all need your help on this board.
Posted on 6/2/23 at 9:13 am to GoblinGuide
quote:Fake news. This figure doesn't include folks who aren't actively looking for jobs. Include those and I'm sure the rate will be in the teens.
Unemployment 3.7%
Posted on 6/2/23 at 9:13 am to GoblinGuide
I won’t lie inflation is crushing me. I’m making it. I’m not wasting money, but prices are increasing at a pace I’ve never seen. I was a baby in the 1970s.
Posted on 6/2/23 at 9:21 am to BengalOnTheBay
I am an employer. Most of my clients have imposed strict hiring freezes, and have started reducing OT.
Ain’t buyin this.
Ain’t buyin this.
Posted on 6/2/23 at 9:26 am to BengalOnTheBay
quote:
May Jobs Numbers: +339,000, Unemployment 3.7%
Can we, on this glorious June morning, simply put aside our political divisions, and in one triumphant chorus, proclaim that Brandonomics has been a rousing success!
And...great news! The debt ceiling deal .. is now the law of the land!
Posted on 6/2/23 at 9:27 am to Ten Bears
quote:my guess is that Uber numbers and part time jobs are part of this report
I am an employer. Most of my clients have imposed strict hiring freezes, and have started reducing OT. Ain’t buyin this.
I’m not buying it either
you can’t drive 2 blocks in metro Bham without seeing several NOW HIRING signs - they are everywhere
$15 or hour to be a manager at Zaxbys- get paid DAILY at McDonalds
Posted on 6/2/23 at 9:27 am to BengalOnTheBay
And about 1% of the population understands labor force participation rate.
Posted on 6/2/23 at 9:28 am to yaboidarrell
quote:Nor does it ever. What's your point?
This figure doesn't include folks who aren't actively looking for jobs. Include those and I'm sure the rate will be in the teens.
Posted on 6/2/23 at 9:29 am to dcbl
quote:Your anecdote and your final opinion don't agree with each other.
I’m not buying it either
you can’t drive 2 blocks in metro Bham without seeing several NOW HIRING signs - they are everywhere
$15 or hour to be a manager at Zaxbys- get paid DAILY at McDonalds
Posted on 6/2/23 at 9:31 am to BengalOnTheBay
Reuters coming in hot.
quote:
The increase in the unemployment rate from a 53-year low of 3.4% in April reported by the Labor Department on Friday was mostly driven by Blacks. It was also partly the result of more people entering the labor force, an increase in supply that is reducing pressure on businesses to raise wages.
Posted on 6/2/23 at 9:32 am to BengalOnTheBay
I just recently completed an annual county wide wage and benefit survey. It was crazy to see how many people saw year over year increases in salary of over 22%. The average ended up being closer to 14%. The job market is pretty good right now. I’m not seeing many people who aren’t in a better place now than they were 1-2 years ago.
Posted on 6/2/23 at 9:36 am to GoblinGuide
quote:
I don't have to explain to you that an unemployment rate below 4% is absolutely phenomenal, right?
It's actually inflationary, but you knew that already. Especially with labor force participation plateauing.
Hope you like a 10%+ fed funds rate, because it's coming if these numbers don't start coming down.
Posted on 6/2/23 at 9:36 am to Motownsix
quote:
I just recently completed an annual county wide wage and benefit survey. It was crazy to see how many people saw year over year increases in salary of over 22%. The average ended up being closer to 14%. The job market is pretty good right now. I’m not seeing many people who aren’t in a better place now than they were 1-2 years ago.
Posted on 6/2/23 at 9:36 am to BengalOnTheBay
Posted on 6/2/23 at 9:40 am to BengalOnTheBay
I believe that like I believe Biden got 81 million votes.
Posted on 6/2/23 at 9:42 am to dcbl
quote:
my guess is that Uber numbers and part time jobs are part of this report I’m not buying it either
The only thing I can think of is that there are still a lot of boomers retiring and companies are hiring replacements.
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