Posted on 01/17/2022 8:57:55 AM PST by JV3MRC
A top economist at the ADP Research Institute slapped down the asinine leftist narrative that the United States is experiencing explosive jobs growth.
ADP Chief Economist Nela Richardson joined CNBC Squawk Box following the shocking news Jan.12 that inflation had spiked a whopping 7 percent year-over-year in December, the highest level since 1982. After noting that real wage earnings, “which are negative,” Richardson said whatever wage increases the media has been propping up as a bellwether for a peachy economy was driven by “labor shortages.” Richardson then dropped the hammer: “The economy — and this is an important point — hasn’t added one single job from the 2019 high watermark. Not one. All the jobs that we have seen gained are recovered jobs that were lost.” She continued: “We are not yet producing new jobs. In fact, we’re still about nearly four million jobs short. So these wage gains are coming on top of a shrinking workforce.”
So much for CNN’s recent whitewash of poor December jobs numbers. “Even so, 2021 will go down in history as a year of record-breaking jobs growth: America added 6.4 million jobs last year, the most since records started in 1939. Every single month brought jobs gains,” CNN wrote earlier this month. Yikes.
(Excerpt) Read more at newsbusters.org ...
Explosive growth of $12.50 per hour jobs on Indeed, almost doesn’t matter what skill is required.
There is no job growth, IMHO, just increasing vacancies in existing job positions.
What are the chances that any Economics Major, graduating with a 4 year degree in the last 10 years, even knows who Milton Friedman is?
“The economy — and this is an important point — hasn’t added one single job from the 2019 high watermark. Not one. All the jobs that we have seen gained are recovered jobs that were lost.”
Restaurant jobs are good places to get killed by repeat offenders who won't be jailed for more than a few hours. And the jokers who work the drive-throughs are such crap now that I don't go to any of them. And if you've lost me (burp), you've lost your business.
Way to go Joe
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