Posted on 11/03/2017 5:42:03 AM PDT by God luvs America
The good: 1) 266,000 versus 200,00 expected 2) September jobs report revised upward from -33,000 to 3) +18,000 (50k plus revision) 4) August jobs revised upwards 40,000 5) U6 unemployment rate at 7.8%, lowest since 2006
The bad: Wages down .1%
If the GOP can deliver a real tax reform, we should be in for one heck of a “Santa Rally” this year...still not tired on winning.
Well, that oughta be worth a joint Schumer/Pelosi press conference, with 100% MSM attendance.
and 24 hours of coverage by the criminal liberal media...
Boom! Wait until the business tax changes go into effect. The loud blowing sound we hear will be the sound of overseas jobs/businesses flying back into the US!
MAGA
310,000 were expected not 200,000
No...310,000 was “expected”...340k by Goldman. Not a great number, but clearly the hurricane impacts were worse than anticipated
Well with 266,000 new jobs, I'm assuming many of them are entry level. That obviously would bring the average wage down a tad.
For example, I have a company of 100 employees with an average tenure of 10 years and an average salary of $60,000. I receive some large new clients and I suddenly have to add 20 new employees with an average starting salary of $40,000.
So now, I have a company of 120 employees with an average tenure of 8.33 years and an average salary of $56,666.
Oh no! Wages are down 5.5% Disaster!
Yup - 90k of the jobs were in hospitality (bars and restaurants) which will pull the average wage down.
also- more than coincidental, if not purposeful, the last two months were revised upwards 50,000 and 40,000....lets see what the October revision is on December 1...
Remeber the old days when unexpected used in this context meant “fewer than forecast”
That was a different report compiled by ADP on Nov 1. The one today is the biggy that comes monthly from the govt.
It was a good report; but job creation wasn’t quite what the market was expecting.
https://www.cnbc.com/2017/11/03/us-nonfarm-payrolls-oct-2017.html
It was actually better when you look at the pharmacy revisions of the past two months and then average them with this months new jobs.
Today, they "revised" that Sept number to up +18,000 jobs.
How could the all-knowing fed govt have been wrong by over 100% ?
.
In a situation like that wages might be slightly down but opportunity is way up. (for the willing that is).
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