Wow! 800,000 jobs added

[BSC911]

Private job growth totals 807,000 in December, more than doubling expectations, ADP says

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.

www.cnbc.com

The Biden 💥 continues despite being in the middle of a pandemic. All Trump did was make excuses while losing 22 million jobs.

Stock market up 28%, jobs being added at record levels, wages rising. Why are Trumpers so angry all the time?

Oh well, I guess sore losers just can’t stand prosperity.

 

[NavigatorII]

Private job growth totals 807,000 in December, more than doubling expectations, ADP says

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.

www.cnbc.com

The Biden 💥 continues despite being in the middle of a pandemic. All Trump did was make excuses while losing 22 million jobs.

Stock market up 28%, jobs being added at record levels, wages rising. Why are Trumpers so angry all the time?

Oh well, I guess sore losers just can’t stand prosperity.

The Labor Department said on Wednesday that 4.2 million people quit their jobs in October, a decline of about 205,000 from September but still close to a record high. Job openings rose 431,000 to 11 million, paced by a 254,000 jump in the accommodation and food services industries.Dec 8, 2021 🤣 🤣 🤣

 

[BSC911]

The Labor Department said on Wednesday that 4.2 million people quit their jobs in October, a decline of about 205,000 from September but still close to a record high. Job openings rose 431,000 to 11 million, paced by a 254,000 jump in the accommodation and food services industries.Dec 8, 2021 🤣 🤣 🤣

Derp. They quit because there were better jobs available, not because they were unemployed.

You really suck at this economics thing. Stick to preparing tax returns, bean counter.

Why do you hate prosperity?

 

[NavigatorII]

Derp. They quit because there were better jobs available, not because they were unemployed.

You really suck at this economics thing. Stick to preparing tax returns, bean counter.

Why do you hate prosperity?

Looks like you got ripped off when you got your degree. The Flagship U should be ashamed of themselves. 🤣

There are still 5 million fewer jobs than before the pandemic but job openings are near record highs. And hourly pay has risen, in some sectors by more than 10% in a year.
Meanwhile, enhanced federal unemployment benefits ended on Labor Day (or sooner) and kids are largely back in the classroom. Both enhanced jobless pay and distance learning, it was thought, had been roadblocks keeping people from returning to work.

However, that boom hasn’t materialized in recent months — at least, not at the rate many expected. Job growth slowed in September after surging in the spring and early summer, and the labor force shrank.

“If you had ever told me we’d have millions of workers still on the sidelines and have wages going up because people couldn’t find workers, you could knock me over with a feather,” said Diane Swonk, chief economist at accounting and advisory firm Grant Thornton.

 

[BSC911]

Looks like you got ripped off when you got your degree. The Flagship U should be ashamed of themselves. 🤣

There are still 5 million fewer jobs than before the pandemic but job openings are near record highs. And hourly pay has risen, in some sectors by more than 10% in a year.
Meanwhile, enhanced federal unemployment benefits ended on Labor Day (or sooner) and kids are largely back in the classroom. Both enhanced jobless pay and distance learning, it was thought, had been roadblocks keeping people from returning to work.

However, that boom hasn’t materialized in recent months — at least, not at the rate many expected. Job growth slowed in September after surging in the spring and early summer, and the labor force shrank.

“If you had ever told me we’d have millions of workers still on the sidelines and have wages going up because people couldn’t find workers, you could knock me over with a feather,” said Diane Swonk, chief economist at accounting and advisory firm Grant Thornton.

Job growth slowed in September? Looks like you are few months behind, Sleeping Beauty.

 

[NavigatorII]

Job growth slowed in September? Looks like you are few months behind, Sleeping Beauty.

The article was posted in December you ignorant slut! 🤣

 

[NavigatorII]

Here's another. Even Fake News CNN!!! 🤣

Analysis by Harry Enten, CNN



Updated 8:01 AM ET, Tue December 21, 2021

Biden's economic ratings are worse than Carter's​

Biden's economic ratings are worse than Carter's | CNN Politics

While his approval rating is down on a slew of issues, his difficulties are perhaps most noticeable on the economy. Biden now sports the lowest net economic rating of any president at this point through their first term since at least Jimmy Carter in 1977.

www.cnn.com

 

[fatman76]

Derp. They quit because there were better jobs available, not because they were unemployed.

You really suck at this economics thing. Stick to preparing tax returns, bean counter.

Why do you hate prosperity?

I'm a dumb Marketing guy so be gentle.

So you're saying 800k jobs were added in December, and 4.5MM people quit their jobs in November to take these new December jobs?

The math seems a little off here. 4.5MM > 800k by quite a bit.

 

[NavigatorII]

I'm a dumb Marketing guy so be gentle.

So you're saying 800k jobs were added in December, and 4.5MM people quit their jobs in November to take these new December jobs?

The math seems a little off here. 4.5MM > 800k by quite a bit.

BScuck calculus. I wonder if UF can revoke his college degree? Maybe I should forward these links to UF Admin? 🤣

 

[CFAGator]

I'm a dumb Marketing guy so be gentle.

So you're saying 800k jobs were added in December, and 4.5MM people quit their jobs in November to take these new December jobs?

The math seems a little off here. 4.5MM > 800k by quite a bit.

It's not that difficult to understand. With the job quits number, a higher number is a sign of a healthier labor market, as people only quit to take better jobs. It has been hovering around 4MM a month for several months, but increased to 4.5MM quits in November (Dec not released yet) as people quit for better opportunities.

The 807k new jobs in December is net, so a positive number just means more people people took jobs than left their jobs (either by quitting or getting fired). The 807k released today is just the ADP estimate of private employment, the full Government payroll report will come out Friday morning, but the 807k was more than double the expected amount. ADP can have large swings from month to month though, but it is positive sign for Friday's report.

 

[NavigatorII]

It's not that difficult to understand. With the job quits number, a higher number is a sign of a healthier labor market, as people only quit to take better jobs. It has been hovering around 4MM a month for several months, but increased to 4.5MM quits in November (Dec not released yet) as people quit for better opportunities.

The 807k new jobs in December is net, so a positive number just means more people people took jobs than left their jobs (either by quitting or getting fired). The 807k released today is just the ADP estimate of private employment, the full Government payroll report will come out Friday morning, but the 807k was more than double the expected amount. ADP can have large swings from month to month though, but it is positive sign for Friday's report.

🤣

December jobs report could be weaker than forecast, due to Covid impact

December's job growth likely slowed from November's pace and could even be negative, as businesses responded to the spreading virus.

www.cnbc.com

 

[CFAGator]

🤣

December jobs report could be weaker than forecast, due to Covid impact

December's job growth likely slowed from November's pace and could even be negative, as businesses responded to the spreading virus.

www.cnbc.com

Uh, that report is a year old buddy.

 

[fatman76]

It's not that difficult to understand. With the job quits number, a higher number is a sign of a healthier labor market, as people only quit to take better jobs. It has been hovering around 4MM a month for several months, but increased to 4.5MM quits in November (Dec not released yet) as people quit for better opportunities.

The 807k new jobs in December is net, so a positive number just means more people people took jobs than left their jobs (either by quitting or getting fired). The 807k released today is just the ADP estimate of private employment, the full Government payroll report will come out Friday morning, but the 807k was more than double the expected amount. ADP can have large swings from month to month though, but it is positive sign for Friday's report.

Didn't realize that was net, I assumed those were replacement jobs. Thanks.

However, sounds like there's still some ground to be made up....

However, total employment remains well below pre-pandemic levels. Even with the unemployment rate dropping from its pandemic high of 14.8% to the current 4.2%, there are some 3.6 million fewer Americans at work compared with February 2020, and the labor force is smaller by nearly 2.4 million as the labor force participation rate is down 1.5 percentage points, according to BLS data through November.

 

[CFAGator]

Didn't realize that was net, I assumed those were replacement jobs. Thanks.

However, sounds like there's still some ground to be made up....

However, total employment remains well below pre-pandemic levels. Even with the unemployment rate dropping from its pandemic high of 14.8% to the current 4.2%, there are some 3.6 million fewer Americans at work compared with February 2020, and the labor force is smaller by nearly 2.4 million as the labor force participation rate is down 1.5 percentage points, according to BLS data through November.

Agreed, but it's going to be difficult to get back to the 2019 employment levels soon, it will probably take until mid to late 2022.

2021 GDP will be higher than 2019 once the final numbers are released later this month, meaning US companies produced more goods and services in 2021 than they did in 2019, and did so with several million less employees throughout the year.

Higher labor productivity is a good thing for corporate margins (and the stock market), but not necessarily for the labor market, as companies learned to do more with less during the pandemic, and that's not going to change quickly.

 

[fatman76]

Agreed, but it's going to be difficult to get back to the 2019 employment levels soon, it will probably take until mid to late 2022.

2021 GDP will be higher than 2019 once the final numbers are released later this month, meaning US companies produced more goods and services in 2021 than they did in 2019, and did so with several million less employees throughout the year.

Higher labor productivity is a good thing for corporate margins (and the stock market), but not necessarily for the labor market, as companies learned to do more with less during the pandemic, and that's not going to change quickly.

isn't labor productivity way down and cost of labor up?

https://www.bls.gov/news.release/pdf/prod2.pdf

 

[CFAGator]

isn't labor productivity way down and cost of labor up?

https://www.bls.gov/news.release/pdf/prod2.pdf

That's a good point, but really just due to the third quarter being a mess. GDP slowed significantly in Q3 due to delta, while at the same time labor costs continued to increase. It is expected that much of the economic output was pushed from Q3 to Q4, which is why recent employment and retail sales numbers are surprising to the upside, but we won't see the Q4 GDP data to compare for a couple more weeks. Fair point though given that Q3 is the most recent productivity number available.

Page 2 of your link provides good info to show the increase in productivity from pre-pandemic levels.

 

[GhostOfMatchesMalone]

isn't labor productivity way down and cost of labor up?

https://www.bls.gov/news.release/pdf/prod2.pdf

Joe and Hunter desperately trying to save Brandon ITT. lol

 

[CFAGator]

Joe and Hunter desperately trying to save Brandon ITT. lol

If referring to me, I never mentioned Biden once. I don't give Biden credit for the current economy or stock market, just like Trump and Obama didn't deserve credit when they both used massive deficits and an accommodative Fed to artificially grow the economy/stock market during their terms.

This board just tends to live in fantasyland, refusing to admit that the economy is doing well, because their minds can't handle the fact that we don't have the socialism and collapsing economy they told everyone we would get if Biden was elected.

 

[BCSpell]

I'm a dumb Marketing guy so be gentle.

So you're saying 800k jobs were added in December, and 4.5MM people quit their jobs in November to take these new December jobs?

The math seems a little off here. 4.5MM > 800k by quite a bit.

Also, the article stated:
"While service-related professions led with 669,000 new hires,"
Even with companies paying more to try and get people to take jobs, the service related professions are your lower paying jobs. So, as more cities opened up from covid restrictions, more people went to work for restaurants, gorcey and department stores (other retail stores) and hotels. Most are probably not full time.

 

[CFAGator]

Also, the article stated:
"While service-related professions led with 669,000 new hires,"
Even with companies paying more to try and get people to take jobs, the service related professions are your lower paying jobs. So, as more cities opened up from covid restrictions, more people went to work for restaurants, gorcey and department stores (other retail stores) and hotels. Most are probably not full time.

Actually service related jobs is just pretty much most jobs outside of manufacturing. Healthcare, teaching, financial services, etc would all be considered service related jobs.

 

[goldmom]

WSJ reported this morning that a record number of people quit their jobs in November...there are just under 11 millIon job openings in this country. The "quit rate" is at a record high...openings at the end of December reportedly rose to 12 million.
LETS GO BRANDON! 💩💩💩

 

[GhostOfMatchesMalone]

This board just tends to live in fantasyland, refusing to admit that the economy is doing well, because their minds can't handle the fact that we don't have the socialism and collapsing economy they told everyone we would get if Biden was elected.

That's exactly what we have. The economy is a dumpster fire.

That's why Brandon's approval rating is 30%. If the economy was doing well, he would be pushing 70% right now.

The economy is the #1 priority for all voters. Always has been, always will be. That's why Hiden is the most unpopular president since Jimmy Carter.

Is this your first time following politics?

 

[CFAGator]

That's exactly what we have. The economy is a dumpster fire.

That's why Brandon's approval rating is 30%. If the economy was doing well, he would be pushing 70% right now.

The economy is the #1 priority for all voters. Always has been, always will be. That's why Hiden is the most unpopular president since Jimmy Carter.

Is this your first time following politics?

So you're saying approval ratings are a better measure of economic growth than the actual economic growth data? As I said, fantasyland.

 

[BSC911]

If referring to me, I never mentioned Biden once. I don't give Biden credit for the current economy or stock market, just like Trump and Obama didn't deserve credit when they both used massive deficits and an accommodative Fed to artificially grow the economy/stock market during their terms.

This board just tends to live in fantasyland, refusing to admit that the economy is doing well, because their minds can't handle the fact that we don't have the socialism and collapsing economy they told everyone we would get if Biden was elected.

This. It’s good to have someone else that has a clue until the trolls try to run you off so that they can have their echo chamber. Stay strong dude. As the senior member of this board. I’m stuck with them.

 

[GhostOfMatchesMalone]

So you're saying approval ratings are a better measure of economic growth than the actual economic growth data? As I said, fantasyland.

No, I'm saying if the economy was doing well right now, so would Brandon's approval rating.

Economic growth after the economy was turned off for a year has zero to do with the health of the economy. You still don't understand this. This is the same idiocy we heard about obama flirting with a 3% GDP......a quarter after posting a NEGATIVE gross domestic product.

 

[goldmom]

If referring to me, I never mentioned Biden once. I don't give Biden credit for the current economy or stock market, just like Trump and Obama didn't deserve credit when they both used massive deficits and an accommodative Fed to artificially grow the economy/stock market during their terms.

This board just tends to live in fantasyland, refusing to admit that the economy is doing well, because their minds can't handle the fact that we don't have the socialism and collapsing economy they told everyone we would get if Biden was elected.

Now who's conflating the two?
I'm solidly in the middle on this. I believe we'd be doing a sh*t ton better if the Vegetable in Chief and Dr. Fakey weren't selling hot loads of 💩 Every day.
Collapsing economy WILL happen and politics aside its going to be a real problem by the time November rolls around.

 

[CFAGator]

No, I'm saying if the economy was doing well right now, so would Brandon's approval rating.

Economic growth after the economy was turned off for a year has zero to do with the health of the economy. You still don't understand this. This is the same idiocy we heard about obama flirting with a 3% GDP......a quarter after posting a NEGATIVE gross domestic product.

Economy was turned off last year? GDP declined 2.3% in 2020, and will rise somewhere between 5.25%-5.75% for 2021 once the data is released in a few weeks.

 

[CFAGator]

Now who's conflating the two?
I'm solidly in the middle on this. I believe we'd be doing a sh*t ton better if the Vegetable in Chief and Dr. Fakey weren't selling hot loads of 💩 Every day.
Collapsing economy WILL happen and politics aside its going to be a real problem by the time November rolls around.

Economy will not collapse next year. It will slow down considerably from 2021, but will likely still be above normal in the 3%-4% range. Even with above average growth in 2022, Rs will still take congress I will agree with you on that.

 

[goldmom]

Economy will not collapse next year. It will slow down considerably from 2021, but will likely still be above normal in the 3%-4% range. Even with above average growth in 2022, Rs will still take congress I will agree with you on that.

It will slow down...how much remains to be seen.

 

[NavigatorII]

Uh, that report is a year old buddy.

If referring to me, I never mentioned Biden once. I don't give Biden credit for the current economy or stock market, just like Trump and Obama didn't deserve credit when they both used massive deficits and an accommodative Fed to artificially grow the economy/stock market during their terms.

This board just tends to live in fantasyland, refusing to admit that the economy is doing well, because their minds can't handle the fact that we don't have the socialism and collapsing economy they told everyone we would get if Biden was elected.

You conveniently forget the retards are pushing hard as they can for Build Back Broke........if the economy is even 25% as good as you as you claim, why all of the clamor for more stimulus free shit?

 

[NavigatorII]

Now who's conflating the two?
I'm solidly in the middle on this. I believe we'd be doing a sh*t ton better if the Vegetable in Chief and Dr. Fakey weren't selling hot loads of 💩 Every day.
Collapsing economy WILL happen and politics aside its going to be a real problem by the time November rolls around.

My prediction? Any Dimtard with a brain can see the meltdown coming. Their solution is to pass the baton to the next President in 2024, who by the way, won't be a pant's shitting invalid.

 

[GhostOfMatchesMalone]

Economy was turned off last year? GDP declined 2.3% in 2020, and will rise somewhere between 5.25%-5.75% for 2021 once the data is released in a few weeks.

5%? It should have double or triple that growth rate after the economy was turned off for much of last year.

This is like you bragging about Monday's Chick Fil A sales being so much better than sales on Sunday.

 

[BCSpell]

You conveniently forget the retards are pushing hard as they can for Build Back Broke........if the economy is even 25% as good as you as you claim, why all of the clamor for more stimulus free shit?

They are also pushing hard for the Voting Bill letting the Federal Government take over all elections.

 

[NavigatorII]

5%? It should have double or triple that growth rate after the economy was turned off for much of last year.

This is like you bragging about Monday's Chick Fil A sales being so much better than sales on Sunday.

Seriously. You don't need to be an economist to sort out when millions of jobs were shut down and locked down, a small blip in increased employment is touted like a panacea when most people went back to work. It's a LOT like beating 2021 FSU and screaming
"We're Back!"

 

[NavigatorII]

They are also pushing hard for the Voting Bill letting the Federal Government take over all elections.

When you can't win honest and fair elections, you stack the deck.

 

[CFAGator]

5%? It should have double or triple that growth rate after the economy was turned off for much of last year.

This is like you bragging about Monday's Chick Fil A sales being so much better than sales on Sunday.

You can keep saying the economy was turned off in 2020, won't make it true. The economy declined only 2.3% in 2020 and produced almost $21 trillion of goods and services.
2021 growth will recoup the decline from 2020 and will have a higher nominal dollar gdp than we saw in 2019.
Argue all you want about who deserves the credit for that, but you can't just keep wishing your bad economy is true and ignoring actual economic data.

 

[NavigatorII]

You can keep saying the economy was turned off in 2020, won't make it true. The economy declined only 2.3% in 2020 and produced almost $21 trillion of goods and services.
2021 growth will recoup the decline from 2020 and will have a higher nominal dollar gdp than we saw in 2019.
Argue all you want about who deserves the credit for that, but you can't just keep wishing your bad economy is true and ignoring actual economic data.

You STILL don't get it. This country is running on covid stimulus and individual reserves are growing thin. It's all fiat currency. That's why we're seeing rampant inflation, never mind them making us energy dependent and sending transportation costs through the roof. That's why Brandon is so desperately trying to pass more free shit legislation to extend the hoax. Brandon and the Dimtards are in full panic mode.

 

[GhostOfMatchesMalone]

Argue all you want about who deserves the credit for that, but you can't just keep wishing your bad economy is true and ignoring actual economic data.

I'm not arguing anything with you, I wouldn't think of wasting my time. When you claimed the economy was good because growth was up coming off the economy being turned off in 2020, that told me all I needed to hear. You don't understand what you are taking about.

It's fine.

Go to your local Publix. You will see bare spots on the shelves of almost every isle. You will see prices 25-50% higher than they were 12-18 months ago.

That's because the economy is in the shitter.

Congrats, to Brandon, he again makes history. First President in American history to oversee a robust* economy AND 30% approval rating. At the same time.

 

[NavigatorII]

I'm not arguing anything with you, I wouldn't think of wasting my time. When you claimed the economy was good because growth was up coming off the economy being turned off in 2020, that told me all I needed to hear. You don't understand what you are taking about.

It's fine.

Go to your local Publix. You will see bare spots on the shelves of almost every isle. You will see prices 25-50% higher than they were 12-18 months ago.

That's because the economy is in the shitter.

Congrats, to Brandon, he again makes history. First President in American history to oversee a robust* economy AND 30% approval rating. At the same time.

That's actually quite astute. Real inflation is running about 20% no matter what the .Gov is telling us. Ask anyone who grocery shops, buys gas, or is in construction. What good is it if the GDP is running 5% above normal when we're underwater overall?

 

[Sunburnt Indian]

The article was posted in December you ignorant slut! 🤣

And the slow are angry so many of us question an all time record 81 million stupid enough voting for what Brandon promised.

Kitchen table. Ever heard of it? Grandma in East Cleveland doesn't give a mouse's hiney about a 5.5 or a 2.5% GDP growth rate. What does grandma care about right this minute? She can't buy beef patties or fill her gas tank. Who gets the blame? Brandon.