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  • Di Leo: The American Economy and the Chinese Assault

    03/01/2024 2:28:19 PM PST · by jfd1776 · 2 replies
    Illinois Review ^ | March 1, AD 2024 | John F Di Leo
    Log onto Facebook. Before you know it, you’ll see ads from Temu or Wish, pitching cheap products. Or open your old email account, the one that you’ve had for years, so it gets the most spam. Every other message is an offer from some unknown store, selling the sort of thing in which a person like you just might be interested. Or log onto Amazon and look for something, anything at all. Twenty percent of the hits, maybe more, will be “sponsored” items, often from a brand you’ve never heard of. Of course, you can shut down the internet, close...
  • 'REAL unemployment rate 6.3% - 7.4%': Deep dive thread into Jan Jobs Report RAINS all over Biden's parade

    02/03/2024 2:45:56 PM PST · by NetAddicted · 13 replies ^ | 2/2/2024 | Sam J.
    The January 24 Jobs Report dropped today and of course, our pals on the Left are doing what they do every month and acting like Biden is doing a great job! So many new jobs created! Unemployment down! BIDEN BOOM they say. And as usual, it's a bunch of horse crap. Big thanks to E.J. Atoni, Ph.D. for doing the actual footwork and showing the reality of our country right now. Hint, it ain't good. STOP going crazy about this jobs report: BLS themselves told us last month that data from Jan '24 and later months are NOT directly comparable...
  • Why Trump supporters give him a pass on record-high unemployment

    01/18/2024 5:05:54 PM PST · by yesthatjallen · 80 replies
    Axios ^ | 01 18 2024 | Emily Peck
    Supporters of former President Donald Trump cite his economic record as a reason to vote for him, but that's a bit puzzling. Why it matters: Trump's economic record is only good if you leave off what happened from March 2020 to the end of his administration. Zoom in: When the pandemic hit, the jobless rate soared to a record 14.8% — a level not seen since the Great Depression. The rate did come down a bit after that, but when Trump left office there were fewer jobs in the country than when he got there — the first time that's...
  • Tech Companies kicks off 2024 with a layoff bender as the industry braces for yet another ‘bumpy landing’

    01/12/2024 1:43:07 PM PST · by SeekAndFind · 3 replies
    Fortune via MSN ^ | 01/12/2024 | Kylie Robison
    Hi everyone, senior tech reporter Kylie Robison here. I don’t want to say the L-word first, but it’s starting to look like some feelings are changing. Layoffs, not love, are in the air again. Google slashed hundreds of jobs today, while Instagram cut several dozen of its own on Wednesday Also this week, Amazon’s Twitch and Prime Video divisions announced hundreds of layoffs each, or a 35% reduction in staff, and AI startup Humane, which raised over $200 million and plans to ship its new wearable in the coming months, just cut 4% of its employees. Adding to the bloodshed,...
  • Full-Time Jobs Drop Suggest Recession Risks Higher Than Thought

    01/12/2024 10:26:11 AM PST · by SeekAndFind · 9 replies
    Real Investment Advice ^ | 01/12/2024 | Lance Roberts
    In the most recent BLS employment report, the percentage of full-time jobs relative to the population dropped sharply. The robust headline number of 216,000 led most media commentators to suggest a “soft landing” is at hand. However, the decline in full-time employment suggests recession risks are higher than thought.To understand why such is the case, we must first review why the current economic environment remains stronger than anticipated. In mid-2023, we discussed how the massive monetary infusions supported economic activity, and we were experiencing a “manufacturing” recession but not an economic one.“In 2011, the world faced a manufacturing shutdown as...
  • Initial US employment reports overstated by 439,000 jobs in 2023

    01/07/2024 8:52:42 AM PST · by BenLurkin · 13 replies
    NY Post ^ | Jan. 6, 2024, 10:18 p.m. ET | Elizabeth MacDonald, Fox Business
    There’s something wrong with previous U.S. jobs reports. The government quietly erased 439,000 jobs through November 2023, a closer look at the numbers from the Bureau of Labor Statistics shows. That means its initial jobs results were inflated by 439,000 positions, and the job market is not as healthy as the government suggests. Since the government wiped out 439,000 jobs after the fact, the total percentage of jobs created by the government last year is even higher. Increased government hiring has been driving the jobs numbers higher.
  • CBO Report Forecasts U.S. Unemployment to Hit 4.4%, Impacting 7.4 Million Amid Economic Contractions; Homelessness is Surging, and Bond Markets Are Signaling Recession.

    12/19/2023 5:29:43 AM PST · by davikkm · 11 replies
    A recent Congressional Budget Office (CBO) report has cast a shadow over the U.S. economic landscape, predicting a rise in unemployment from the current 3.9% to 4.4% by the end of 2024. This sobering forecast suggests potential job losses for approximately 7.4 million Americans, highlighting the precarious nature of the workforce amidst a contracting gross domestic product (GDP). The CBO attributes the anticipated increase in unemployment to economic adjustments and policy shifts. As the nation grapples with these changes, weaker consumer spending is expected into the next year, along with a contraction in nonresidential investment. These factors are projected to...
  • 106.4 Million U.S. Adults Do Not Have A Job Right Now

    11/26/2023 6:47:30 PM PST · by george76 · 74 replies
    The Most Important News ^ | November 20, 2023 | Michael Snyder
    19 months in a row! The Conference Board’s index of leading economic indicators has now fallen for 19 months in a row. When something happens for 19 consecutive months, that is definitely a trend. The economy is clearly in big trouble, and conditions are getting worse with each passing day. But the mainstream media continues to insist that the economy is doing just great. They tell us that inflation is low, but if it was still measured the way that it was back in 1980, the official rate of inflation would be well into double digit territory. And they tell...
  • The Federal Reserve Broke The Budget. Buckle Up For What Comes Next.

    11/26/2023 9:51:54 PM PST · by SeekAndFind · 65 replies
    Investors Business Daily ^ | 11/26/2023 | Jed Graham
    The 10-year Treasury yield set off roaring alarms about the U.S. budget when it surged to 5% last month. Now those warnings look like a fire drill. Federal Reserve rate hikes seem to be over for now, giving the bond market a reprieve and allowing a powerful S&P 500 rally to resume. Enjoy it while it lasts. The next debt scare may be the real thing, and it could rock the U.S. economy and stock market. Here's why: The Fed's historic turnabout, from enabling massive budget deficits to directing the sharpest rate hikes in 40 years, has seemingly broken the...
  • Today's household survey for October shows employment collapsed by 348K, the biggest drop since the Covid shutdown.

    11/03/2023 7:28:53 AM PDT · by Kaiser8408a · 6 replies
    Confounded Interest ^ | 11/03/2023 | Anthony B. Sanders
    The household survey shows employment collapsed by 348K, the biggest drop since the Covid shutdown. As usual, historical data was revised massively lower, with the jobs change for August revised down by 62,000, from +227,000 to +165,000, and the change for September was revised down by 39,000, from +336,000 to +297,000. With these revisions, employment in August and September combined is 101,000 lower than previously reported. In total, 8 of the past 8 months have been revised sharply lower in what only idiots can not see is clearly mandated political propaganda designed to make the economy look stronger at first...
  • Maine Mass Shooter Found Dead Behind Recycling Center With Self-Inflicted Gunshot

    10/27/2023 10:42:00 PM PDT · by where's_the_Outrage? · 71 replies
    The Messenger ^ | Oct 27, 2023 | Eli Walsh
    Officials are working to determine how long Robert Card had been deceased The Maine Army Reservist who slaughtered 18 of his neighbors and wounded 13 others in a mass shooting Wednesday night has been found dead Friday — more than 48 hours after he inflicted carnage in Lewiston and sparked a massive manhunt in the peaceful New England state. Robert Card II is believed to have died of a self-inflicted gunshot wound, authorities announced at a press conference Friday night. Officials did not provide many details on the circumstances that led to the discovery of his body in the nearby...
  • Di Leo: Self-Checkout and the Biden-Harris Economy

    10/23/2023 3:47:15 PM PDT · by jfd1776 · 9 replies
    American Free News Network ^ | October 23, AD 2023 | John F Di Leo
    We will attempt to look at an entire job class today, so there are going to be some unavoidable generalizations. Even so, certain truths do apply across the board, whether we like admitting to them or not. Some of us love the self checkout line at the grocery store. We don’t slow down the other people in line; we can pack our own bags the way we want to, and as long as we can get the discount programs to work and the pricing is right, it can be a nice change to brighten our day. But most of us...
  • The sad truth behind job growth in the American economy

    09/05/2023 8:57:15 PM PDT · by SeekAndFind · 5 replies
    American Thinker ^ | 09/05/2023 | Andrea Widburg
    According to Axios, a left-leaning publication, the only thing keeping the American economy afloat is the blessed presence of foreign-born workers…because those lazy Americans just won’t work. However, according to a study by Zero Hedge, Americans are losing their jobs like crazy, and only foreign-born workers are getting those jobs. Who to believe? Who to believe? First, Axios:Immigrants are joining the U.S. workforce at much higher levels than normal.They're likely to account for roughly half a million new jobs over the next three quarters, per a new report from Goldman Sachs.Why it matters: As the U.S. continues to struggle with...
  • August Unemployment Rate Jumps, Employment in June and July Revised Downward

    09/04/2023 2:24:06 PM PDT · by Olog-hai · 18 replies
    Cybercast News Service ^ | September 1, 2023 | Craig Bannister
    In August, the unemployment rate jumped 0.3 points, from 3.5% 3.8%, as the number of long-term unemployed increased, the U.S. Bureau of Labor Statistics (BLS) reported Friday. The nation’s unemployment rate jumped 0.3 percentage point to 3.8% in August, as the number of unemployed persons increased by 514,000 to 6.4 million. Among the unemployed, the number of job losers and persons who completed temporary jobs increased by 294,000 to 2.9 million in August, offsetting a decrease of 280,000 in July. The rise in the unemployment rate, coupled an increase in job losers, highlights ongoing challenges in the economy. Meanwhile, the...
  • U.S. Added 187,000 Jobs In August As Unemployment Rises To 3.8%

    09/01/2023 6:07:09 AM PDT · by ConservativeInPA · 27 replies
    Forbes via MSN ^ | September 1, 2023 | Darreonna Davis
    The U.S. economy added 187,000 jobs in August, Labor Department data released Friday showed, a hopeful sign for investors and Americans looking for the Federal Reserve to ease up on interest rate hikes. The U.S. added 187,000 jobs to the economy in August, according to Labor Department data released Friday morning, outperforming economists’ expected 170,000 additional jobs. The unemployment rate now sits at 3.8%, up from 3.5% in July when 5.8 million people were unemployed.
  • Blue state (California) Democrats propose handing out unemployment benefits to workers on strike

    08/23/2023 5:49:37 PM PDT · by Libloather · 12 replies
    Fox News ^ | 8/22/23 | Kassy Dillon
    A group of California Democrats are expected to propose handing out unemployment benefits to striking workers. Language expected to be released in the coming days or weeks to provide striking workers with benefits from California's unemployment insurance program that is $18 billion in debt. The move comes amid historic strikes by both screenwriters and actors, forcing many movies and TV shows to halt production. "It would allow individuals on strike who are not looking for work and were not let go through no fault of their own to claim unemployment insurance as if they were truly unemployed," California Chamber of...
  • ‘It’s literally impossible to find a job here’: Huge crowd of people line up for McDonald’s job fair.

    07/31/2023 8:16:13 AM PDT · by Vigilanteman · 56 replies
    MSNBC ^ | 31 July 2023 | Vladimir Supica
    A TikTok video showing a massive queue of people waiting to attend a McDonald’s job fair has gone viral, highlighting the difficulty of finding work. The video, posted by user cshibz on July 28, shows a long line of people stretching down the street outside the St. Louis Adult Learning & Continuing Education Centre in Kitchener, Ontario, where the fast-food chain was holding a hiring event. The on-screen caption reads, “When you come for a McDonalds job fair and there’s like 300 people lined up down the street.” She continues: “Its literally impossible to find a job here! This was...
  • Deep-blue state doled out $5.2 billion in 'overpayments' during COVID, gave millions to dead people: audit [Illinois]

    07/28/2023 12:33:54 AM PDT · by Olog-hai · 11 replies
    Fox News ^ | July 28, 2023 1:50am EDT | Aaron Kliegman
    The state of Illinois improperly paid out billions of unemployment tax dollars during the COVID-19 pandemic, with tens of millions going to people who were either dead or in prison, according to a newly released audit. The Illinois auditor general on Wednesday published a report that showed how the state agency that distributes unemployment benefits issued “overpayments” to the tune of $5.2 billion in fraudulent or excessive claims from fiscal year 2020 to fiscal year 2022. The report is the fullest accounting yet of the large-scale fraud and overpayments that occurred in Illinois during the pandemic. Of the $5.2 billion,...
  • Disability Claims Are Increasing at a Record Pace Under Biden. Why?

    07/24/2023 10:30:46 AM PDT · by DFG · 21 replies ^ | 07/24/2023 | Jon Miltimore
    Despite the many economic challenges people are facing today, including stubbornly high inflation and 401ks that are still reeling from the worst stock market drop since 2008 , many contend that we’re witnessing the triumph of “Bidenomics.” The White House has been touting statistics showing 13.2 million jobs have been created during the Biden administration and that the unemployment rate fell to 3.6% in June. Not bad, right? At least some seem to think so. “America under President Biden has better employment numbers … than the America of 1984 when President Reagan ran morning in America ads touting the economy,”...
  • Economy adds 209K jobs in June, unemployment at 3.6 percent

    07/07/2023 8:18:49 AM PDT · by ChicagoConservative27 · 36 replies
    The Hill ^ | 07/07/2023 | SYLVAN LANE
    The U.S. added 209,000 jobs in June, and the unemployment rate dipped to 3.6 percent, according to data released Friday by the Labor Department. Economists expected the U.S. to add roughly 240,000 jobs last month and for the jobless rate to fall to 3.6 percent, according to consensus estimates, down from 3.7 percent in May. Despite persistent recession warnings and rapid Federal Reserve rate hikes, the U.S. economy has remained sturdy throughout 2023. The U.S. has added an average of 278,000 jobs per month this year, down from 399,000 per month in 2022 but well above the level needed to...