Half a million jobs not created under con artist

[someoneyouknow]

The Labor Department massively revised downward the number of jobs created throughout 2018 and into March of 2019. Figures show a loss of 501,000 jobs from the original figures, or 42,000 fewer jobs per month created than initially reported.

Average monthly job gains last year “seemed too good to be true in light of how tight the labor market has become and how much trouble firms are said to be having finding qualified workers,” said Stephen Stanley, chief economist at Amherst Pierpont Securities LLC, in a note to clients Wednesday.​

After the revision, hiring probably averaged under 200,000 jobs per month last year, down from the 223,000 initially reported and only modestly better than the 179,000 monthly jobs added in 2017.

“The pace of job growth in 2018 was a significant upside surprise,” said Stephen Stanley, chief economist of Amherst Pierpont Securities, an investment firm. “The revision kind of brings things back into line with what the original thought process had been.”​

Based on current numbers, job growth under the con artist is no better than under Obama even though the con artist inherited a growing economy and more working-age people to fill positions.

https://www.bloomberg.com/news/articles/2019-08-21/u-s-payrolls-count-reduced-by-501-000-in-year-through-march

https://www.nytimes.com/2019/08/21/business/economy/jobs-growth-revision.html

https://www.forbes.com/sites/chuckjones/2018/10/30/two-charts-show-trumps-job-gains-are-just-a-continuation-from-obamas-presidency/

https://thegrio.com/2018/01/06/fox-news-admits-job-growth-stronger-obama-trump/

 

[beezzz]

Deep State doing all it can

To ELECT a D!

 

[icanhelp1]

The Labor Department massively revised downward the number of jobs created throughout 2018 and into March of 2019. Figures show a loss of 501,000 jobs from the original figures, or 42,000 fewer jobs per month created than initially reported.

Average monthly job gains last year “seemed too good to be true in light of how tight the labor market has become and how much trouble firms are said to be having finding qualified workers,” said Stephen Stanley, chief economist at Amherst Pierpont Securities LLC, in a note to clients Wednesday.​

After the revision, hiring probably averaged under 200,000 jobs per month last year, down from the 223,000 initially reported and only modestly better than the 179,000 monthly jobs added in 2017.

“The pace of job growth in 2018 was a significant upside surprise,” said Stephen Stanley, chief economist of Amherst Pierpont Securities, an investment firm. “The revision kind of brings things back into line with what the original thought process had been.”​

Based on current numbers, job growth under the con artist is no better than under Obama even though the con artist inherited a growing economy and more working-age people to fill positions.

https://www.bloomberg.com/news/articles/2019-08-21/u-s-payrolls-count-reduced-by-501-000-in-year-through-march

https://www.nytimes.com/2019/08/21/business/economy/jobs-growth-revision.html

https://www.forbes.com/sites/chuckjones/2018/10/30/two-charts-show-trumps-job-gains-are-just-a-continuation-from-obamas-presidency/

https://thegrio.com/2018/01/06/fox-news-admits-job-growth-stronger-obama-trump/

But the numbers are still pretty good, right?

 

[FukLuk]

But the numbers are still pretty good, right?

But they are not YUGE and not truthful until now.

 

[someoneyouknow]

But the numbers are still pretty good, right?

Only as good as Obama's.

 

[icanhelp1]

But they are not YUGE and not truthful until now.

But unemployment went down, right. GDP went up, right? Did labor participation increase among all ethnicities? Is the stock market doing OK. How’s Your 401k doing OK I hope. Maybe vote Biden, go back to the old days.

 

[FukLuk]

But unemployment went down, right. GDP went up, right? Did labor participation increase among all ethnicities? Is the stock market doing OK. How’s Your 401k doing OK I hope. Maybe vote Biden, go back to the old days.

But the wages are stagnant. But actual economists say the recession is coming. But you're a moron. How's that trade war and tariff bullshit coming along? You poor thing.

 

[icanhelp1]

Only as good as Obama's.

I detect a little intellectual dishonesty.

 

[someoneyouknow]

I detect a little intellectual dishonesty.

Nope. Facts. Look at the actual numbers. Job growth under the con artist is no better than under Obama. In fact, I posted the numbers in my original post citing the Fox tabloid who last year showed the numbers under Obama. Here, I'll post it again:

https://thegrio.com/2018/01/06/fox-news-admits-job-growth-stronger-obama-trump/

If that doesn't make sense, here is a Forbes article from the end of 2018 stating, and showing, the exact same thing (this was also originally posted above):

https://www.forbes.com/sites/chuckjones/2018/10/30/two-charts-show-trumps-job-gains-are-just-a-continuation-from-obamas-presidency/

From July of 2018. Note again, no significant difference between the two and in fact, Obama had much higher quarters of job gains than the con artist had up until the article was put out:

https://www.businessinsider.com/charts-prove-trumps-statements-about-economy-are-false-2018-7

So no, not being dishonest. I'm being factual. The numbers speak for themselves. Whether you choose to believe them is irrelevant.

 

[icanhelp1]

But the wages are stagnant. But actual economists say the recession is coming. But you're a moron. How's that trade war and tariff bullshit coming along? You poor thing.

That’s not true, wages have increased on average by 3% 2018. Actual economists as opposed to fake economists, maybe a slowdown but no recession predicted by real economists for the near future. The trade war and tariffs are doing fine, thanks for asking.

 

[FukLuk]

That’s not true, wages have increased on average by 3% 2018. Actual economists as opposed to fake economists, maybe a slowdown but no recession predicted by real economists for the near future. The trade war and tariffs are doing fine, thanks for asking.

45's brand of Communism is bailing out the farmers.
He queefed on his Chinese tariffs for this holiday season.
Actual economists are not projecting a great economic future.
All republican presidents have started a recession.

Oops.

 

[icanhelp1]

Nope. Facts. Look at the actual numbers. Job growth under the con artist is no better than under Obama. In fact, I posted the numbers in my original post citing the Fox tabloid who last year showed the numbers under Obama. Here, I'll post it again:

https://thegrio.com/2018/01/06/fox-news-admits-job-growth-stronger-obama-trump/

If that doesn't make sense, here is a Forbes article from the end of 2018 stating, and showing, the exact same thing (this was also originally posted above):

https://www.forbes.com/sites/chuckjones/2018/10/30/two-charts-show-trumps-job-gains-are-just-a-continuation-from-obamas-presidency/

From July of 2018. Note again, no significant difference between the two and in fact, Obama had much higher quarters of job gains than the con artist had up until the article was put out:

https://www.businessinsider.com/charts-prove-trumps-statements-about-economy-are-false-2018-7

So no, not being dishonest. I'm being factual. The numbers speak for themselves. Whether you choose to believe them is irrelevant.

I always thought that as unemployment numbers approach full employment and labor participation increases the robust growth will level off and yet the numbers are still higher than Obama’s best quarterly average.

 

[icanhelp1]

45's brand of Communism is bailing out the farmers.
He queefed on his Chinese tariffs for this holiday season.
Actual economists are not projecting a great economic future.
All republican presidents have started a recession.

Oops.

You’re a communist aren’t you? I thought that would make you happy. Yeah, a little socialism going on with farmers. Which economists are not projecting a great economic future. It could be touch and go with China but somebody has to take a stand. You believe that don’t you FukLuc?

 

[FukLuk]

You’re a communist aren’t you? I thought that would make you happy. Yeah, a little socialism going on with farmers. Which economists are not projecting a great economic future. It could be touch and go with China but somebody has to take a stand. You believe that don’t you FukLuc?

Admitting you were destroyed is the first step

 

[someoneyouknow]

That’s not true, wages have increased on average by 3% 2018. Actual economists as opposed to fake economists, maybe a slowdown but no recession predicted by real economists for the near future. The trade war and tariffs are doing fine, thanks for asking.

Not quite. For the past five years wage growth has been between 2% and 3%, not an average. Considering inflation is higher than wage growth, people are treading water.

Which leads to , real wage growth has been stagnant for decades:

Average hourly earnings for non-management private-sector workers in July [2018] were $22.65, up 3 cents from June and 2.7% above the average wage from a year earlier, according to data from the federal Bureau of Labor Statistics. That’s in line with average wage growth over the past five years: Year-over-year growth has mostly ranged between 2% and 3% since the beginning of 2013. But in the years just before the 2007-08 financial collapse, average hourly earnings often increased by around 4% year-over-year. And during the high-inflation years of the 1970s and early 1980s, average wages commonly jumped 7%, 8% or even 9% year-over-year.

After adjusting for inflation, however, today’s average hourly wage has just about the same purchasing power it did in 1978, following a long slide in the 1980s and early 1990s and bumpy, inconsistent growth since then. In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today.​

https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

As for the trade war and tariffs, things are going so swimmingly the con artist has handed over, so far, $30 billion to farmers to keep them alive because China isn't buying soybeans or pork, and he recently caved by rolling back tariffs because of the upcoming buying frenzy season and the increased cost to consumers had the tariffs gone into effect.

This doesn't include the continuing slowdown and layoffs in the steel industry because of tariffs, or the weekly statements from businesses saying their financials are being hit by the tariffs and as a result, are cutting back.

Here's what that liberal think tank, the Cato Institute, had to say about companies being whacked by tariffs:

https://www.cato.org/publications/commentary/here-are-202-companies-hurt-trumps-tariffs

Even the Fox tabloid is calling out the con artist for his lies about tariffs. That's how bad things are:

https://www.newsweek.com/i-dont-know-where-begin-here-neil-cavuto-blasts-trump-after-fact-check-tariffs-1452424

 

[icanhelp1]

Admitting you were destroyed is the first step

First step to what FukLuk? Destroyed? I know it’s way past your bedtime, does your mommy know your up this late. Tell me the truth now, are you in your playpen playing with your little army men? Are your little friends destroying you?

 

[FukLuk]

First step to what FukLuk? Destroyed? I know it’s way past your bedtime, does your mommy know your up this late. Tell me the truth now, are you in your playpen playing with your little army men? Are your little friends destroying you?

That projection, tho.

Also, *you're

 

[BoyNextDoor]

Is that Labor Force Participation Rate still at its all time low?

 

[icanhelp1]

Not quite. For the past five years wage growth has been between 2% and 3%, not an average. Considering inflation is higher than wage growth, people are treading water.

Which leads to , real wage growth has been stagnant for decades:

Average hourly earnings for non-management private-sector workers in July [2018] were $22.65, up 3 cents from June and 2.7% above the average wage from a year earlier, according to data from the federal Bureau of Labor Statistics. That’s in line with average wage growth over the past five years: Year-over-year growth has mostly ranged between 2% and 3% since the beginning of 2013. But in the years just before the 2007-08 financial collapse, average hourly earnings often increased by around 4% year-over-year. And during the high-inflation years of the 1970s and early 1980s, average wages commonly jumped 7%, 8% or even 9% year-over-year.

After adjusting for inflation, however, today’s average hourly wage has just about the same purchasing power it did in 1978, following a long slide in the 1980s and early 1990s and bumpy, inconsistent growth since then. In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today.​

https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

As for the trade war and tariffs, things are going so swimmingly the con artist has handed over, so far, $30 billion to farmers to keep them alive because China isn't buying soybeans or pork, and he recently caved by rolling back tariffs because of the upcoming buying frenzy season and the increased cost to consumers had the tariffs gone into effect.

This doesn't include the continuing slowdown and layoffs in the steel industry because of tariffs, or the weekly statements from businesses saying their financials are being hit by the tariffs and as a result, are cutting back.

Here's what that liberal think tank, the Cato Institute, had to say about companies being whacked by tariffs:


https://www.cato.org/publications/commentary/here-are-202-companies-hurt-trumps-tariffs

Even the Fox tabloid is calling out the con artist for his lies about tariffs. That's how bad things are:

https://www.newsweek.com/i-dont-know-where-begin-here-neil-cavuto-blasts-trump-after-fact-check-tariffs-1452424

I replied to FukLuk’ lie that wages were stagnant and I replied an average of 3% increase in 2018. We’ve already beat to death in other threads the tax cuts and wages, not going back there. China is cheating and no one has an answer as to how to stop them. So what’s your solution? Everybody wants a free market economy, as long as they impose tariffs on us. Tariffs are not the best way to do business but China cheats on every one including the WTO. Very complex issue.

China also got a pass on the INF treaty which we were married to with Russia, now China is loaded for bear with short to medium range missiles, the ones that can take out a carrier. There is a real threat out there and time is a wasting.

 

[icanhelp1]

Is that Labor Force Participation Rate still at its all time low?

High!

 

[bellisarius]

The Cato Institute is far from being "liberal."

 

[someoneyouknow]

The Cato Institute is far from being "liberal."

Oh no, it's liberal alright. It doesn't toe the line that whatever the con artist says isn't the unvarnished truth. They disagree with him so they're liberal.

 

[lustatopia]

Not quite. For the past five years wage growth has been between 2% and 3%, not an average. Considering inflation is higher than wage growth, people are treading water.

Which leads to , real wage growth has been stagnant for decades:

Average hourly earnings for non-management private-sector workers in July [2018] were $22.65, up 3 cents from June and 2.7% above the average wage from a year earlier, according to data from the federal Bureau of Labor Statistics. That’s in line with average wage growth over the past five years: Year-over-year growth has mostly ranged between 2% and 3% since the beginning of 2013. But in the years just before the 2007-08 financial collapse, average hourly earnings often increased by around 4% year-over-year. And during the high-inflation years of the 1970s and early 1980s, average wages commonly jumped 7%, 8% or even 9% year-over-year.

After adjusting for inflation, however, today’s average hourly wage has just about the same purchasing power it did in 1978, following a long slide in the 1980s and early 1990s and bumpy, inconsistent growth since then. In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today.​

https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

As for the trade war and tariffs, things are going so swimmingly the con artist has handed over, so far, $30 billion to farmers to keep them alive because China isn't buying soybeans or pork, and he recently caved by rolling back tariffs because of the upcoming buying frenzy season and the increased cost to consumers had the tariffs gone into effect.

This doesn't include the continuing slowdown and layoffs in the steel industry because of tariffs, or the weekly statements from businesses saying their financials are being hit by the tariffs and as a result, are cutting back.

Here's what that liberal think tank, the Cato Institute, had to say about companies being whacked by tariffs:

https://www.cato.org/publications/commentary/here-are-202-companies-hurt-trumps-tariffs

Even the Fox tabloid is calling out the con artist for his lies about tariffs. That's how bad things are:

https://www.newsweek.com/i-dont-know-where-begin-here-neil-cavuto-blasts-trump-after-fact-check-tariffs-1452424

Hey, you gotta admit it looks like the shit has already been launched towards the fan. Of course, predictions are hard, especially when they are about the future, but it wouldn't be surprising if we are on the edge of the next financial crisis.

A number of market savvy types are looking at the hard Brexit date in October as the global crunch point. The EU is seriously fucked already. Germany's economy is slumped over. Italy's economy technically should have imploded last year. Greece is still on life support. Spain is a no invest zone. Turkey is teetering on the edge too.

The fact is that the EU can not survive long with out the union with Britain. Markets grok this and may respond to a hard Brexit bifurcation with a dramatic phase shift of their own. The resulting perturbation to the entire global system already in a rather precarious position could be "interesting" as in the old Chinese curse sense.

Speaking of China, that's the biggest domino, which has probably already fallen, but the done deed has been hidden from the west by the chicoms. China always has +6% growth rates because they always cook their books. This year it's probably -3% growth and falling. That's literally catastrophic, if true.

Hong Kong's strife and Trump's tariffs are adding to the Chinese credit crunch caused by China's astronomical internal debt built up over the last 2 decade of crappy communist state own enterprise loans.

In short, yeah, a recession is coming and Trump (by his mere existence), Hong Kong, the EU and Brexit are bringing it to a head sooner than later, along with such low interest rates that there is no leverage left for the central banks to fall back on.

Trump will get all the blame unfairly, of course, but he is a pretty damn convenient scapegoat and he practical begs for it with his braggadocio. It's hard to feel sorry for the SOB.

At the risk of sounding conspiratorial, the vibe of globalist schadenfreude over the possibility of a new financial crisis is a bit unusual to say the least as normally the globalist agenda has the most to lose in a global economic crisis. However, with localized peasant revolts breaking out all over the world, perhaps a dire crisis is just what the globalists require as cover for a major crack down on the kind of "inefficient" civil liberties which are clogging up the globalist gear box.

Naturally, the party of the Globalists, ie, Democrats and their "useful idiots" will declare shifting our economy towards the Cuban/Venezuela command model is the only way forward because justice. Socialism has been the cure for all the world's ills since Bolshevik revolution, even though even on paper the theory doesn't work, much less in real life.

What matters is that Socialism takes power away from local nodes and consolidates it in the hands of a central party elite and their technocrats. All for the good of the people, of course.

 

[Schwinger]

Deep State doing all it can

To ELECT a D!

https://media.giphy.com/media/l0HlP2ms0eUc5nlHG/giphy.gif

 

[beezzz]

Deep State doing all it can

To ELECT a D!

The DEEP State fucked itself.....in the zeal to make Trump look "bad" and elect a D

They now have given the FED even MOAR ammo to cut rates

The FED has long said we are at or near full employment and they were afraid to lwer rates

Now they cant say that!!!!!!!!!


BTW, this # is a guess, what a surprise DEEP STATE guessed ONE WAY

Sorta like in 2012 when a month before the election the unemployment rate FELL below a kep ## and assured Obama would win