Those who want a job and are not in the labor force hardly changed at 5.7 million in December. But there’s more to it:In December, 3.1 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic—that is, they did not work at all or worked fewer hours at some point in the 4 weeks preceding the survey due to the pandemic. This measure was down from the level of 3.6 million in November. Among those who reported in December that they were unable to work because of pandemic-related closures or lost business, 15.9 percent received at least some pay from their employer for the hours not worked, little changed from the prior month.
I am sure that Democrats, the Biden Administration and their lackeys in the media will push the fact that the unemployment rate went down, but that is largely due to people once again no longer looking for work. The reality is that we still have not gotten back to the pre-Covid job numbers and every month that goes by without reaching that same plateau makes it harder to believe we will ever get back to the pre-Covid Trump economy (at least not under Slow Joe).
Meanwhile there are the additional problems with people who still have jobs, but are having hours cut or asked just not to come in. They are included as being employed, even though they are not getting paid what they are used to.
14 comments:
Quote of the Day
January 7, 2022 at 2:06 pm EST By Taegan Goddard 18 Comments
“By the way, the stock market — the last guy’s measure of everything — is about 20% higher than it was when my predecessor was there. It has hit record after record after record on my watch.”
— President Biden,
quoted by Politico.
Trump’s Biggest Legacy
January 7, 2022 at 2:00 pm EST
Matt Johnson:
“The United States isn’t going to regain its standing as an exemplary democracy any time soon. Even if global perceptions stabilize over the next few years, the specter of Trump’s return to the biggest stage in American politics will remain ever-present—refusing to convict him for his role in fomenting the insurrection was one thing, but what if the GOP rewards him with another presidential nomination?
“What effect will the widespread acquiescence in (and the active propagation of) his lies about the 2020 election have on the Republican party’s commitment to American democracy?
How certain can America’s allies (or enemies) be that Trumpism won’t continue to dominate the Republican party even long after Trump has gone?”
BULLETIN — Mark your calendars: Speaker NANCY PELOSI has invited President JOE BIDEN to deliver his State of the Union address on Tuesday, March 1. The letter
MAKING SENSE OF THE JOBS NUMBERS — Confusion is becoming an increasingly common theme of jobs-report days, with hopeful or encouraging economic trends almost always dampened by a dose of Covid-laced reality. It was no different today.
Here’s a breakdown of the mixed bag new jobs report:
THE GOOD: The U.S. unemployment rate fell from 4.2% to 3.9%, and the jobs reports for November and October were revised upwards. November’s job gain went from 210,000 to 249,000, and October’s went from 531,000 up to 648,000.
—Via AP’s Christopher Rugaber: “Indeed, despite the slight hiring gain reported by businesses, 651,000 more people said they were employed in December compared with November. Wages also rose sharply, a sign that companies are competing fiercely to fill their open jobs.”
— As WSJ’s Sarah Chaney Cambon put it, “though the [Omicron] variant has taken a toll on some businesses’ revenue, many employers are clinging to the workers they have as consumers continue to spend.”
THE BAD: U.S. employers added just 199,000 new jobs in December, marking “the weakest report of the year,” per NYT’s Sydney Ember and Jeanna Smialek. November saw an addition of 249,000 jobs. For the entire year, the average gain was 537,000 new jobs per month.
THE UGLY: “Slackening job growth was especially worrisome because the data released on Friday was collected in mid-December, before the pandemic’s latest wave,” Ember and Smialek write. “Economists are bracing for the surge in cases to further disrupt job growth in January and in the coming months, though it is too soon to say how it will affect the labor market in the longer term.”
But the murky picture wasn’t on display at the White House. “I think it’s a historic day,” Biden said, touting the sub-4% unemployment rate and wage gains.
It is “the sharpest one-year drop in unemployment in United States history,” Biden boasted. “The first time the unemployment rate has been under 4% in the first year of a presidential term in 50 years. [A] 3.9% unemployment rate years faster than experts said we would be able to do it. And we have added 6.4 million new jobs since January of last year. One year. … That's the most jobs in any calendar year by any president in history. … I would argue the Biden economic plan is working.”
Other highlights from Biden:
— On Republican claims that he’s out of touch: “Now, you hear Republicans say today that my talking about this strong record shows that I don’t understand. ‘A lot of people are still suffering,’ they say. Well, they are. Or that I'm not focused on inflation. Malarkey. They want to talk down the recovery because they voted against the legislation that made it happen.” because they don't care!
— On supply-chain issues around the holidays: “The much-predicted crisis didn’t occur. The Grinch did not steal Christmas,” Biden said, referencing a caricature of himself that critics deployed, before adding: “Nor any votes.”
— Taking a swipe at Trump: “By the way, the stock market — the last guy’s measure of everything — is about 20% higher than it was when my predecessor was there. It has hit record after record after record on my watch.”
— Responding to a shouted question of whether Covid-19 is “here to stay”: “I don't think Covid is here to stay. Having Covid in the environment and the world is probably here to stay, but Covid — as we’re dealing with it now — is not here to stay. … The new normal is not going to be what it is now. It’s going to be better.”
Good Friday afternoon. Scott Johnson schizophrenia
“By the way, the stock market — the last guy’s measure of everything — is about 20% higher than it was when my predecessor was there. It has hit record after record after record on my watch.”
— President Biden,
Actually Reverend...
I added this DJIA comparison to the sidebar.
Biden has seen an improvement of 16.5%
Trump at the same time of his Presidency had 27.5%
So how is it that Biden can continuously gaslight you?
The least knowledgeable make the dumbest comments on the US Economy.
Roger said we have a Demand crisis.
It is “the sharpest one-year drop in unemployment in United States history,” Biden boasted. “The first time the unemployment rate has been under 4% in the first year of a presidential term in 50 years. [A] 3.9% unemployment rate years faster than experts said we would be able to do it. And we have added 6.4 million new jobs since January of last year. One year. … That's the most jobs in any calendar year by any president in history. … I would argue the Biden economic plan is working.”
If the Biden economic plan(LOL) is to drive the workforce participation rate below 60%, then I'd say the Biden economic plan(LOL) is working like a fucking charm.
Blogger Roger Amick said...
BULLETIN — Mark your calendars: Speaker NANCY PELOSI has invited President JOE BIDEN to deliver his State of the Union address on Tuesday, March 1.
And for the first time ever the SOTU will be broadcast on Comedy Central.
LOL.
THWAP!!!
That was more of a thud than a thwap.
James, if you need more help , I will help you understand my US Constitution.
After all I swore to protect it.
The Great Reset.
Biden, "If Elected I will stop covid"
Ummm.
Biden 'we can contain COVID'
"By the way, the stock market — the last guy’s measure of everything — is about 20% higher than it was when my predecessor was there. It has hit record after record after record on my watch.”
— President Biden,
CH TRUTH SAID:
Actually Reverend...
I added this DJIA comparison to the sidebar.
Biden has seen an improvement of 16.5%
Trump at the same time of his Presidency had 27.5%
___________
"Reverend" says:
Well, Ch, I'm no expert on stocks, but how do you explain the following?
Who's gaslighting whom?
The S&P 500 rang up 68 records in Biden’s 1st year? Here’s how stock-market returns stack up for the 46th president against others.
Last Updated: Dec. 31, 2021 at 11:55 a.m. ET
By Mark DeCambre
Biden can boast the best annual performance for the S&P 500 since the first term of President Barack Obama.
It’s been a volatile year for U.S. and global markets as the COVID-19 pandemic that gripped the world in 2020 moved into a new phase thanks to the omicron variant, but returns for equity investors have been strong on the back of fiscal and monetary policy that has kept interest rates at or near 0%.
Thus far, since taking the oath of office on Jan. 20, 2021, Democratic President Joe Biden can boast the best annual performance for the S&P 500 index SPX, -0.41% since the first term of President Barack Obama, who sought to extricate America from the Great Recession of 2008-09 along with then-Vice President Biden.
Near midday Friday, the S&P 500 was up over 25% in Biden’s first calendar year in office, compared with a 31.2% gain in the broad-market index under Obama.
The equity market return for Biden is better than President Donald Trump’s 18.1% for the same index in 2017.
So you want us to compare, 2022 Biden 2nd year in office to Trump 2nd year in office?
What is truly sad is that fucking idiots like the goat fucker never disparaged any of trumps jobs numbers, especially noting this
trump-average-monthly-jobCHART: Donald Trump's Average Monthly Job Creation: 193k Jobs ...
Jul 30, 2018 · Obama's final 18 months saw an average of 206,000 jobs added per month. During Trump's first 18 months, that number has fallen to 193,000. The jobs report for July 2018 will be released on Friday, August 3rd, so the 193,000 average may fluctuate. Job growth has been on a roll since the recovery began in 2010.
Author: Brandon Gage
www.thebalance.com › trump-and-jobs-4114173Did Donald Trump Bring Back American Jobs?
Covid-19 and The Economy'America First' Trade PolicyOutside Perspectives About Trump's Plan
Trump created 6.6 million jobs before the COVID-19 pandemic shut the economy down. The new jobs his policies created represented a 4.3% increase over the 152.2 million people working at the end of Obama's term.5 In response to COVID-19, Trump signed The Coronavirus Aid, Relief, and Economic Security (CARES) Actin March 2020 to restore jobs (20.5 million of which would be lost in April alone) through several forms of assistance to businesses, including: 1. Employee retention credits of 50% on up to $10,000 in wages for each employee 2. Payroll tax credits and deferrals 3. Loans to cover payroll costs67 The CARES Act provided benefits, but by February 2021, there were still 10 million people who were unemployed.8
See full list on thebalance.com
Author: Kimberly Amadeo
www.usatoday.com › story › newsFact check: Chart shows historic unemployment under Trump
Nov 06, 2020 · Trump is "the worst jobs president in history" with job losses totaling 4 million, according to the post's caption. Per the chart, Trump is the only president in the last 80 years to net job ...
Facts, the enemy of goat fucking idiots!!!!!!!!!! BWAAAAAAAAAAAAAAAAA!!!!
Joe Biden President: Jan. 20, 2021-present
Market performance: 26.6% per year
Joe Biden was tops after his first 100 days in office, and even though the market's white-hot pace has cooled, he still remains ahead of the pack, in part thanks to the power of annualization. All of the major indexes currently sit at all-time highs, including the S&P 500, which is up 20.2% since Biden was sworn into office.
That translates into an eye-popping 26.6% annualized return.
"Since Jan. 20, if the stock market’s performance is any indication, Wall Street appears to approve of President Biden’s attempts to corral the Covid-19 virus and stimulate the economy," Sam Stovall, Chief Investment Strategist for CFRA, said amid Biden's first 100 days.
He added that Biden's return through April 28 puts him on pace for "the second strongest 100-day return of first-term presidential administrations since WWII, and well above the average of 1.9% since 1949."
"Only President Kennedy had a more joyous reception by Wall Street in 1961, but not by much," Stovall added. "Also, the 21 new all-time highs recorded by the S&P 500 since January 20th of this year slightly exceeded President Kennedy’s 20 count."
And if you prefer the Dow as a market benchmark? Biden's first 100 days were still among the best.
"The Dow has averaged 4.3% the first 100 days of a new president, while it has been higher the first 100 days in office for five of the past six presidents," Ryan Detrick, Chief Market Strategist for LPL Financial, said around the same time. The 8.6% performance in the Dow put President Biden ahead of all but three presidents since 1900: Franklin Roosevelt (75.1%), William Taft (13.8%) and Lyndon Johnson (9.2%).
Post a Comment