https://twitter.com/AnaCabrera/status/14...3868315651

NOT HALF AS GOOD

(01-07-2022 09:22 AM)green Wrote:  

https://twitter.com/AnaCabrera/status/14...3868315651

NOT HALF AS GOOD

4.5 million fewer people in the workforce now than January 2020.
Lies, damned lies and stats.

lulz, I think I found Mensa's twitter account. He posted this prediction this morning. Nailed it!

Did he tell anyone to get off his lawn?

(01-07-2022 12:26 PM)Eagleaidaholic Wrote:  Did he tell anyone to get off his lawn?

tl;dr - A bunch of economists wildly projected an incorrect number.

Quote:Economists polled by Reuters had forecast payrolls rising by 400,000 and the unemployment rate dipping to 4.1%. Payrolls estimates ranged from as low as 150,000 to as high as 1.1 million jobs. The government revised household survey data, which provides the jobless rate, for the last five years.

https://www.reuters.com/markets/us/us-jo...022-01-07/

Meanwhile, ADP numbers says December had a growth of over 800k jobs. Why is their number so much higher?

Quote:Companies hired at the fastest pace in seven months in December ahead of escalating concerns over surging Covid cases, according to a report Wednesday from payroll processing firm ADP.

Private job growth totaled 807,000 for the month, well ahead of the Dow Jones estimate for 375,000 and the November gain of 505,000. The November total was revised lower from the initially reported 534,000.

The total was the best for the job market since May 2021′s 882,000 figure, according to the ADP data.

https://www.cnbc.com/2022/01/05/adp-december-2021.html

Additionally, November was revised upward by 39k, from 210,000 to 249,000.

So I guess an increase in jobs of 200k while still in the throes of a global health crisis is now a bad thing. Okay.

Lulz


Well, looked here haha

(01-07-2022 03:00 PM)Redwingtom Wrote:  tl;dr - A bunch of economists wildly projected an incorrect number.

Quote:Economists polled by Reuters had forecast payrolls rising by 400,000 and the unemployment rate dipping to 4.1%. Payrolls estimates ranged from as low as 150,000 to as high as 1.1 million jobs. The government revised household survey data, which provides the jobless rate, for the last five years.

https://www.reuters.com/markets/us/us-jo...022-01-07/

Meanwhile, ADP numbers says December had a growth of over 800k jobs. Why is their number so much higher?

Quote:Companies hired at the fastest pace in seven months in December ahead of escalating concerns over surging Covid cases, according to a report Wednesday from payroll processing firm ADP.

Private job growth totaled 807,000 for the month, well ahead of the Dow Jones estimate for 375,000 and the November gain of 505,000. The November total was revised lower from the initially reported 534,000.

The total was the best for the job market since May 2021′s 882,000 figure, according to the ADP data.

https://www.cnbc.com/2022/01/05/adp-december-2021.html

Additionally, November was revised upward by 39k, from 210,000 to 249,000.

So I guess an increase in jobs of 200k while still in the throes of a global health crisis is now a bad thing. Okay.

https://twitter.com/jasonfurman/status/1...5482396673

rwt sighting ...

DROP IN THE BUCKET

Unbelievable: New Numbers Show Biden's Economy Has Caused an Astounding Number of Job Losses

Quote:The amount of people who have lost their jobs during Biden’s economy has been nothing short of massive according to new numbers discussed by CNBC.

As first reported by the Daily Wire, “CNBC Investing Club with Jim Cramer” threw out some numbers on Friday morning that showed some 3.1 million people have been out of work due to closures thanks to inflation or government regulations.

“3.1 million people reported they’ve been unable to work because their employer closed or lost business,” Cramer said.

“This is what I’m hearing from a lot of CEOs is that basically, look, we can’t staff, or we’re looking for people, or a lot of our customers are going under,” he added.

To be sure, Omicron is to blame in a big way for this, but as CNBC noted, the inflation being experienced under President Biden has put many businesses out of commission:

Average hourly earnings rose more than expected as the U.S. sees its fastest inflation pace in nearly 40 years. Wages climbed 0.6% for the month and were up 4.7% year over year. That compares with respective estimates of 0.4% and 4.2%.

The interesting response to this by the American people has been to turn to freelance work and self-employment:

While the establishment survey showed much lower-than-expected job gains, the household count told a different story, with a gain of 651,000. There also were upward revisions for prior months, with the final October tally pushed up to 648,000, an increase of 102,000, while November’s disappointing report gained 39,000 in its first revision to 249,000.

We can extract some things from these numbers. For one, people have turned to working from home and jumping into more temporary freelance work since contract work is far safer of a bet. The Biden administration, and indeed states and cities run by Democrats, have created something of an unstable work environment. You never know when the next closure or crippling regulation is coming down the line, and so people have stopped attempting to find employment from others.

Indeed, at 3.1 million jobs lost, this economy has taught America not to trust it.

Democrats have ultimately shot themselves in the foot here. The Trump tax cuts put the self-employed in a much better position, and these are cuts that Democrats have outright declared war on. If Republicans are smart, they’ll advocate for a far lower tax rate for the self-employed, putting many people in a position to have the IRS be less of a burden on them going forward and winning over these hundreds of thousands who now find themselves relying more on self-employment than anything else.

(01-07-2022 03:00 PM)Redwingtom Wrote:  tl;dr - A bunch of economists wildly projected an incorrect number.

Quote:Economists polled by Reuters had forecast payrolls rising by 400,000 and the unemployment rate dipping to 4.1%. Payrolls estimates ranged from as low as 150,000 to as high as 1.1 million jobs. The government revised household survey data, which provides the jobless rate, for the last five years.

So "Bottom of the Barrel Biden" comes in on the low side of an estimate where his fluffers tried to pimp a potential number 5 times higher than they were.

Dont fret, Biden does come in on the high side of some things; inflation, gas price, food prices....etc