Posted on 12/04/2021 9:37:17 AM PST by SaxxonWoods
The establishment survey of businesses showed a paltry payrolls increase of 210,000 in November, the lowest monthly growth all year and far short of economists’ expectations. The household survey, however, offered a counter narrative. Payrolls, according to that survey, rose 1.1 million in November as some people finally started to re-enter the workforce.
What are investors to make of the mixed messages? Let’s start with squaring the survey discrepancy. Aneta Markowska, chief economist at Jefferies, says the big gap in hiring, taken at face value, suggests that over one million individuals shifted from employment to self-employment. The household survey has historically been more volatile and thus less reliable than its establishment sibling. But if people are shifting to self-employment, as anecdotal evidence suggests, the household survey may be painting a more accurate picture of the labor market, Markowska says.
Sticking with the household survey, then, means acknowledging that the job market is even tighter than it looks.
(Excerpt) Read more at marketwatch.com ...
Just like COVID, we aren't all going to die of this economy, it's actually doing well. Remember, the media and the depressed love to sell fear.
These are not jobs created. This is people returning to jobs vacated by Covid caused lockouts.
The economy is doing well. Oil (the big factor in stubborn inflation because it affects so many products) is down 20%. Gas prices are down. Household cash is high. People are starting businesses and spending money.
Some people just want it all to burn. They are going to be disappointed.
The only problem is that Biden will benefit because the new variant is a nothing burger and the economy will continue to improve, helping Biden by the time the midterms come around.
“These are not jobs created. This is people returning to jobs vacated by Covid caused lockouts.”
Well stated, a thousand ^^^^^^^^^^^^^^^^^^ votes for you.
Figures LIE! Liars figure.
Could it be all the virus mandates causing workers to leave the workforce?
There’s some of that.
If Trump was president everyone here would be defending the economy and saying it was fine.
I love it when you do that deep research and analysis.
If Trump was the president he would employ tactics that work for our country not tactics to destroy the economy
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