Posted on 07/05/2024 6:29:33 AM PDT by Kaiser8408a
Like a bad “good news, bad news” joke,. June employment numbers are out from the Feral governement. The good news? Jobs added increased by 206k, more than expected.
The bad news? The unemployment rate hit 4.1%, the highest in 3 years.
While nominal wage growth grew, REAL wage growth rose a measly 0.8% YoY.
The share of total new worth held by the top 1% is 30.4% while the total net worth held by the bottom 50% is a measly 2.5%.
So much for politicians’ promises to make everyone equal in wealth! Oddly, they keep getting wealthier and the bottom 50% keep losing ground.
(Excerpt) Read more at confoundedinterest.net ...
To make everyone equal in wealth they have to be equal in poverty...............
All government jobs
This will satisfy the need for a rate cut which is coming.
The markets will jump bigtime and so will Joe’s numbers.
Bump
2024 - Bottom 50% - Share of Total Net Worth - 2.5%
From memory...
Those numbers look almost exactly the same as the "Share of Total Taxes Paid" by the Top 1% and the Bottom 50%.
Probably not, as that should be corrected by seasonal adjustment. Also as someone who is very close to that industry (Arborculture) business is noticeably down compared to two years ago. Last year about this time of year we saw business decline, I attribute it to a combination of inflation biting our clients and the fact that pandemic travel restrictions ended.
We had a nice run of two to two and a half years where we had all the work we could do. I attribute this to people reallocating funds that had been budgeted to vacation/travel to home improvement, and enough of that money went our way.
RNC Research
NEW: The official jobs numbers from the past two months have been revised downward by -111,000.
The unemployment rate has risen to 4.1% — the highest since November 2021.
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