AND lots of those 5.5 million jobs are second jobs people took to make ends meet under Bidenflation. Plus lots of the remaining jobs are minimum wage.
Big companies are still laying people off at record rates. Our daughter got the axe a couple weeks ago.
My daughter took Obama’s advice and graduated from coding boot camp in February 2020. Recruiters never came to the school thanks to the pandemic, and she never got a coding job. Then she went to another coding camp put on by United Health and got hired in 2022 as a contract worker. She was doing really well but they laid her off in December because of budget problems. Thank God she’s got extensive experience waitressing. My son-in-law is a UX project manager and told me it’s a bloodbath in IT right now. So depressing.
This bit is rather an aside, but part of an expected set of adjustments.
“the previously robust January jobs numbers had been downwardly revised by more than a whopping 35 percent, from 353,000 to 229,000. If that wasn’t bad enough, the February jobs report also reduced the December 2023 jobs numbers from 333,000 to 290,000, totaling a 167,000-job overestimate for December and January combined. In addition, new data from the Philadelphia Federal Reserve showed that the U.S. economy added two-thirds fewer jobs in the third quarter of 2023 than previously reported by the BLS report, according to The Daily Caller.”