Posted on 03/04/2022 6:13:33 AM PST by Browns Ultra Fan
Today’s jobs report is a mixed-bag. According to the Feburary Bureau of Labor Statistics (BLS) report …
The good: 678k jobs were added.
The bad: Month-over-month wage earning experienced 0% growth (although YoY growth declined to 5.1%).
The ugly: inflation is still at 40 years highs of 7.5%. Meaning that REAL wage growth is -2.4%.
Here is the jobs report summary.
Of course, the leading sector for job creation was … leisure and hospitality with 179k added. Food services and drinking places (aka, bars) added 124k jobs.
Energy prices are way up … again … which will fuel more price increases. WTI Crude is up over 4% overnight, NYH gasoline futures are up 4.33%, coal is up 22.48%.
Hey bartender! You are the leading job addition.
(Excerpt) Read more at confoundedinterest.net ...
Inflation is NOT 7.5%. I am SO tired of the lies.
Good for Wall Street=Bad for Main Street.
Well Lunchbucket Joe did say he had a plan.
I would bet the jobs # will be quietly adjusted downward in the coming weeks.
Those “jobs” are basically a lot of businesses that have been allowed to reopen after being forced to close due to COVID (think gyms, theaters, restaurants, arcades, etc.).
Summary: NO new jobs created!
I guess when the free government bucks dry up ya’s gotta go back to work:-)
Last month’s jobs number was mostly adjustments and didn’t match the jobs survey at all. It’s hard to believe they could do this again. Wondering what the other indicators are..
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