5 takeaways from a stunning January jobs report

The Hill ^ | 02/02/2024 | TOBIAS BURNS

[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.

[elpadre]

and how many were foreign nationals??

[Scott from the Left Coast]

Oh, they forgot one:

6. Fascism works

It gives great stats, the trains run on time. Well, it work for the largest corporations and politicians anyway. Money gets consolidated with the wealthy. Their choices increase exponentially, your choices get constricted. Inflation just makes them richer, printing money in the trillions, ends up giving the big guys more access to capital…and the politicians drown in payola.

It works…it took Germany and Italy out of economic Hell…and deposited them in literal Hell about a decade and a half later. But it works, better than any other method of reviving a moribund economy.

[EBH]

Maybe because the last time they reported outrageous numbers like this...errrr last year...months later it was revised as fake numbers.

[EBH]

Initial US employment reports overstated by 439,000 jobs in 2023
NY Post ^ | Jan. 6, 2024, 10:18 p.m. ET | Elizabeth MacDonald, Fox Business
Posted on 1/7/2024, 11:52:42 AM by BenLurkin

[lepton]

They appear to be literally fantastic.

fantastic /făn-tăs′tĭk/
adjective
Based on or existing only in fantasy; unreal.
“fantastic mythological creatures; the fantastic realms of science fiction.”
Strange or fanciful in form, conception, or appearance.
Unrealistic; irrational.

[lepton]

Annual wage growth ticked up to 4.47 percent,

---

Only about 10 years until it catches back up...but even then there are many months of lost wages from Biden’s economy.

[cowboyusa]

IT’S A LIE!

[Myrddin]

We have Arctic Circle restaurants in eastern Idaho. My typical purchase is a small chocolate/mint shake. Those sell for $5.39 to $5.79 each depending on location (Pocatello/Chubbuck/Blackfoot/Shelley/Idaho Falls). Oh yes, plus TAX. I recall a few years back when my "out the door" price as $4.23 (tax included). We don't do it very often now.

[Vaduz]

Government jobs topped the list Fox business news 2/2/24

The feds have been blowing money all over the place to make the numbers look good.

[ding_dong_daddy_from_dumas]

The best article about the “jobs report” is from ZeroHedge yesterday. Unfortunately, FR does not allow ZeroHedge. I do not understand why. The Biden gang and allies are lying. The lies got worse because of Obama.

[ding_dong_daddy_from_dumas]

I hate to say this, but some FReepers seem to believe the Biden gang’s January “jobs report.” The numbers are real, but the conclusions and context are crazy.

[Vaduz]

Yes full time jobs dropped and part time jobs increased as well as government jobs juggle the numbers is a long term democrat issue.

[ding_dong_daddy_from_dumas]

A RINO POTUS might do the same after Obama set the precedent for even more shameless lying. But the problem is not entirely new. Mark Twain attributed “Lies, damn lies, and statistics” to Disraeli.

[Vaduz]

Agree