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 ...
When illegals looking for jobs get employed, they are no longer a negative stat.
How many times have these economic figures been revised downwards? Almost every single time for the Biden Administration.
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
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.
Most new jobs went to foreign born; most jobs lost were by US born.
1929 was a roaring year, too, until the underlying toothpicks finally broke.
It’s a total crap jobs report. NEGATIVE 635k American born. All the rest were illegals
Joseph Robbin us Blinden has gotta go!
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.
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.
Even after adjustment, this will be a temporary show-stopper for the FED
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
$1.8 trillion in budget deficit spending can buy you a lot of jobs. Our grandchildren will be thrilled...
He doesn’t mention that the unemployment rate went up to 4 percent and that other reports are showing that hiring is slowing.
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;)
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