March Report: The Recession In Full-Time Jobs Is Here
According to a new report from the federal government’s Bureau of Labor Statistics this week, the US economy added 303,000 jobs for the month of March while the unemployment rate fell slightly to 3.8%. In what has become a familiar pantomime, reporters from the legacy media were sure to declare this a ‘blowout jobs report’ while Richmond Fed president Tom Barkin described the report as ‘quite strong.’
This report showed, however, that the jobs economy continues to follow a pattern that began in December of last year: namely, full-time jobs are disappearing and the ‘job growth’ reported so enthusiastically by the media is virtually all part-time jobs. Moreover, nearly a quarter of new payroll jobs are government jobs. If we look more closely at this report, what we really find is that the total number of employed persons has fallen by nearly 400,000 jobs in four months and that 1.8 million full-time jobs have disappeared over the same period.
Does anybody around here feel that inflation has gone down in their everyday lives?
How much is it costing you to insure your car for instance?
See here:
[EXCERPT]
New data out on Wednesday from the Bureau of Labor Statistics showed auto insurance costs last month were 22.2% higher than they were a year ago and increased from February’s 20.6% year-over-year gain. March’s rise in insurance costs is the largest gain since December 1976, when prices rose 22.4% over the prior year.
How about health insurance? See here:
[EXCERPT]
“For 2024, across 320 insurers participating in the 50 states and DC, this analysis shows a median proposed premium increase of 6%.”
How about Vehicle Maintenance? ( unless you can do the job yourself, but then what if you need to replace parts? ).
See here:
[EXCERPT]
According to the U.S. Bureau of Labor Statistics, the cost of car maintenance and repair has gone up 36.2% from January 2019 to January 2024.
One more question -— Do you still use the post office? How much has the cost of stamps risen?