Posted on 09/14/2022 3:03:37 PM PDT by packagingguy
About a third of the jobs added in August were jobs we thought the economy already had.
The survey of businesses allows for double counting of some job-holders, and there is considerable evidence that this double-counting has accelerated recently.
These figures are the swan song of an anemic economy weighed down by President Joe Biden’s inflation, regulation, and taxation.
(Excerpt) Read more at heritage.org ...
Funny, lead times on products needed for manufacturing are astronomical, half a year for simple package testing equipment for example.
Our manufacturing department cannot get titanium in to make products.
The stock market scrubbed off one thousand points yesterday as we hit inflation highs.
Housing starts have plummeted.
But somehow we have very low unemployment? Everyone is busy as a bee and moving up the corporate ladder? How is this possible?
This may answer the question: many jobs are being counted twice. Wouldn't it be nice if you received two checks each pay period?
Basically, the numbers are junk. It's a lie, they're cheating.
The hazard here is that the economy REALLY tanks right after Republicans take control of congress, giving Demonicrats a ready, convenient scapegoat to erect.
Theyll also have the time to repair some of it before 2024…. And point to commons news policy. Theyll benefit from the cyclical nature of recessions as well. In other words without doing anything drastic it’s will resolve eventually organically
And today’s news:
Average LA County Gas Price Increases for 12th Straight Day
The average price of a gallon of self-serve regular gasoline in Los Angeles County rose Wednesday for the 12th consecutive day increasing 1.2 cents to $5.418. The average price has increased 17.2 cents over the past 12 days, including 1.4 cents Tuesday, according to figures from the AAA and Oil Price Information Service.
Around here I judge the health of the economy by how many cars I see with (empty) pallets stacked on top of their cars. More than ever.
ADP—the company that does payrolls all over the country knows the real numbers.
You’re assuming Republicans are going to take control in November.
So are they talking about the ten-thousand-million jobs here, or another number? Asking for a friend.
I think in one week it was an overcount of 10,000 or so jobs give or take.
Then for a month approximately 40,000.
But on top of that one third of employees nationwide were counted twice, so that’s a lot of people.
It just doesn’t make sense that we have such a low unemployment number given the state of the economy. Other possibilities I have thought about:
1. People being used to sponging off the government, that number intensified by people sitting at home collecting government checks during covid (low workforce participation)
or
2. A lot more people have died from covid/lockdown induced health problems (not exercising, not seeing doctors for hypertension, diabetes and the like)/vaccine-induced deaths.
As to #2 there have been an unusually large number of life insurance claims here and in Europe.
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