Posted on 02/02/2024 9:03:31 AM PST by ChicagoConservative27
Job growth soared past expectations in January and wages rose faster than inflation, exhibiting more strength at the start of an election year in which the economy could be a huge factor.
The U.S. economy added 353,000 jobs last month, according to the Labor Department, about double what economists were expecting in different forecasts. The unemployment rate held steady at 3.7 percent.
Wages on nonfarm payrolls rose by 0.6 percent to $34.55, double the monthly pace of headline inflation in December.
Annual wage growth ticked up to 4.47 percent, still considerably higher than the 3.5-percent growth that many economists think is in keeping with the Federal Reserve’s 2-percent inflation target.
(Excerpt) Read more at thehill.com ...
“I’m not buying this slop.“
I just heard on 710 in NY that job creation and interest rates are fantastic…Joes slamdunking it I guess.
Nobody should ever believe anything from The Hill propagandists. But some people here will.
Yup! Here’s Denninger!
https://market-ticker.org/akcs-www?post=250632
Quote:
Uh huh.
Sure it did.
Except the unadjusted household survey showed -1.1 million, on the back of a -1.395 million last month — which was wildly out-of-character. January is usually a firing month of course due to the end of the Christmas season but any speculation that this was pulled forward a couple of weeks (thus was in the December report) got blown up by this number.
In addition while hourly wages were up some the work-week was down two tenths and thus the actual weekly check was smaller for most workers. That, I’m sure, will be “greatly appreciated” in an inflationary economy.
RTWT
In the Soviet Union, journalists were forced to lie.
Ours do it voluntarily.
I’m not buying this slop.“
We are not the target for this BS. It’s the legion of half informed independents who eat this crap like candy.
How many likely voters are so anti-Trump, deranged that they will vote against their and their families interests anyway, just to be against Trump?
They were part time jobs. Wages were flat
Isn’t that the truth…
The trump tax cuts expire this tax year.
...Te Salut, Don Corleone'
October's job numbers were revised down by 50,000.
I purchased two ice cream sandwiches recently from a convenience store.
$8.00
Eight.
Pretty soon, it is going to be a wheelbarrow full.
Oh, yeah. It is all going swimmingly.
high growth = higher inflation and no chance of fed cutting rates.
100% #FakeNews. Here’s a bit of reality check:
https://confoundedinterest.net/2024/02/02/the-worst-jobs-report-of-all-time-cloaked-as-a-biden-victory-all-job-creation-over-past-4-years-has-been-for-foreign-born-workers-zero-job-creation-for-native-born-workers-since-july-2018/
My point is that the reason we are having a good economy is precisely because of the tax cuts. If Brandon gets reelected and lets them expire then the market WILL correct itself. But until and if that happens, my stock portfolio says thanks.
Either they can’t read or can’t think, probably both
November and December were revised upwards...
Neoliberals and free traitors pimped low interest rates. The Kudlow class don't care about you, all that matters is government backstops, bailouts, and low interest rates for investors. The middle class will/has always been a outlier in the history of the world.
Lol, I just got laid off from a job in the firearms industry because business is cratering.
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