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Strong jobs report presents conundrum for Biden
The Hill ^ | 06/07/2024 | TOBIAS BURNS

Posted on 06/07/2024 10:38:52 AM PDT by ChicagoConservative27

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The May jobs report delivered an upside surprise on Friday for the labor market and the strength of the U.S. economy as payrolls increased by 272,000 and wage growth ticked upwards, reversing a three-month downward trend.

But the news is double-edged for the Biden administration as low unemployment and strong jobs gains have not been translating into positive sentiment on the economy for voters amid elevated prices and a crunch on the housing market.

Hopes for an upswing in the national economic mood have been hanging in part on the timing of interest rate cuts from the Federal Reserve, which could please investors and stimulate the economy.

But the Friday jobs report leaves that timing in limbo ahead of next week’s meeting of the Fed’s rate setting committee, along with any potential victory laps on the success of the economy’s soft landing.

(Excerpt) Read more at thehill.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: biden; jobs; report; strong
This will be revised. Tobias is an idiot.
1 posted on 06/07/2024 10:38:52 AM PDT by ChicagoConservative27
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To: ChicagoConservative27

When illegals looking for jobs get employed, they are no longer a negative stat.


2 posted on 06/07/2024 10:40:23 AM PDT by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
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To: ChicagoConservative27

How many times have these economic figures been revised downwards? Almost every single time for the Biden Administration.


3 posted on 06/07/2024 10:43:28 AM PDT by Yo-Yo (Is the /Sarc tag really necessary? Pray for President Biden: Psalm 109:8)
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To: ChicagoConservative27

Pure gaslighting garbage:
1. Mostly government, non-productive jobs that are a huge drag on the economy. They don’t produce anything of value. They PREVENT productive companies from doing real work.
2. Few jobs for Americans


4 posted on 06/07/2024 10:43:57 AM PDT by ProtectOurFreedom (“When exposing a crime is treated like a crime, you are being ruled by criminals” – Edward Snowden)
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To: ChicagoConservative27

https://www.frontpagemag.com/how-democrats-faked-a-jobs-boom/


5 posted on 06/07/2024 10:45:27 AM PDT by DFG
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To: ChicagoConservative27

The problem is all the jobs were in the government sector and a few in entertainment/hospitality. There was nothing in the goods producing sector of the economy.

American workers have gained nothing in the last 4 years. All the jobs have gone to foreigners.


6 posted on 06/07/2024 10:47:24 AM PDT by FLT-bird
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To: ChicagoConservative27

Most new jobs went to foreign born; most jobs lost were by US born.


7 posted on 06/07/2024 10:48:25 AM PDT by PIF (They came for me and mine ... now its your turn)
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To: ChicagoConservative27

1929 was a roaring year, too, until the underlying toothpicks finally broke.


8 posted on 06/07/2024 10:54:38 AM PDT by fwdude ( )
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To: ChicagoConservative27

It’s a total crap jobs report. NEGATIVE 635k American born. All the rest were illegals


9 posted on 06/07/2024 10:55:10 AM PDT by spacejunkie2001
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To: ChicagoConservative27

Joseph Robbin us Blinden has gotta go!


10 posted on 06/07/2024 10:55:13 AM PDT by HighSierra5 (The only way you know a commie is lying is when they open their pieholes.)
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To: ChicagoConservative27

Strong? Not really. Firstly, the number like all others will be knocked down twice from here. Second the jobs are all healthcare and government. Old boomers and Government consultants. Any part of a real economy is shrinking. We are quickly turning socialist.


11 posted on 06/07/2024 10:59:17 AM PDT by poinq (thics and customs and did not take an oath to the country. And did not follow the country's traditio)
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To: ChicagoConservative27

Too big a word for Biden. He’ll just say things are great and he is great and Trump is bad. Facts don’t matter.


12 posted on 06/07/2024 11:04:44 AM PDT by bigbob
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To: ChicagoConservative27

Even after adjustment, this will be a temporary show-stopper for the FED


13 posted on 06/07/2024 11:12:53 AM PDT by SaxxonWoods (Are you ready for Black Lives MAGA? It's coming.)
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To: ChicagoConservative27

Bidenomics 101 (Income): Real Gross Domestic Income Growth NEGATIVE For 3 Consecutive Quarters As M2 Money Growth Worst Since 1933 And The New Deal (Only 187k Jobs Added In August And ALL Of Last Year’s Jobs Added Were Revised Downwards)

https://freerepublic.com/focus/f-bloggers/4179432/posts


14 posted on 06/07/2024 11:14:26 AM PDT by packagingguy
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To: FLT-bird

$1.8 trillion in budget deficit spending can buy you a lot of jobs. Our grandchildren will be thrilled...


15 posted on 06/07/2024 11:18:05 AM PDT by fhayek
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To: ChicagoConservative27

He doesn’t mention that the unemployment rate went up to 4 percent and that other reports are showing that hiring is slowing.


16 posted on 06/07/2024 11:53:51 AM PDT by phil00071
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To: ChicagoConservative27

Meantime, Bitcoin has moved up the No. 9 largest financial asset. Gold is no 1. Silver is no. 8. If BTC hits 100,000 it will pass Amazon, maybe Google. By (BUY) 2029 BTC could be world a million dollars, but that million dollars won’t be worth more than 300,000 today;)


17 posted on 06/07/2024 1:15:45 PM PDT by Jumper
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