Posted on 11/03/2023 6:08:56 AM PDT by Kaiser8408a
Yes, the jobs come crumbling down!
Total nonfarm payroll employment increased by 150,000 in October, below the average monthly gain of 258,000 over the prior 12 months. This represents a drop of more than 50% from the original Sept print, and the second lowest since 2022!
In October, job gains occurred in health care, government, and social assistance. Employment in manufacturing declined due to strike activity. (See table B-1.) Health care added 58,000 jobs in October, in line with the average monthly gain of 53,000 over the prior 12 months. Over the month, employment continued to trend up in ambulatory health care services (+32,000), hospitals (+18,000), and nursing and residential care facilities (+8,000). Employment in government increased by 51,000 in October and has returned to its pre-pandemic February 2020 level. Monthly job growth in government had averaged 50,000 in the prior 12 months. In October, employment continued to trend up in local government (+38,000).
In October, construction employment continued to trend up (+23,000).
So, unproductive government jobs increased by 51k while productive construction employment grew by only 23k.
Average weeky; earnings growth YoY slowed to 3.2%. Too bad core inflation last printed at 4.13% YoY in September.
Bidenomics hurts so good? At least that is what Biden and KJP will say.
(Excerpt) Read more at confoundedinterest.net ...
I actually saw some road construction people in Illinois actually working. Usually the lanes are shut down and no one in sight.
Expect a correction. They got the numbers mixed up between BLS and CBP. That’s actually the number of illegals crossing last month.
Wait until the fast food joints start closing en masse b/c of mandated $20/hour for workers.
Yet, even after they all lose their jobs, they’ll still willingly vote for Newsom and Biden.
When government is responsible for the majority of employment gains and when government spending is responsible for GDP growth there is actually a massive recession. In other words, there is not broad across the board expansion in the part of the economy that actually builds something and pays the bills. Proof: tax receipts are down. That of course leads to increased deficits, debt, printing money and inflation. Yeah, it’s great for lazy ass government employees that never built anything in their lives. You’re in the way of the productive, you eff’n worthless pieces of chit.
The fast food joints won’t close, they’ll simply go robotics.
01000011 0100111, 01111001 0100111 01010101, 01110111 01100001 010001110 01010100, 01000110 01010010 010000101 01010011, 01010111 01101001 01010100 01101000, 01010100 01101000 01100001 01010100?
In other words:
100 078, 089 111 117, 087 097 078 084, 102 114 105 101 115, 119 105 116 104, 116 104 097 116?
It all amounts to the same: "Do you want fries with that?"
I guess we either pay them to flip burgers or pay a robot and pay them to stay home and breed? It all adds up to more unnecessary cost. That is our problem, unnecessary cost and waste. Just way too much something earned the hard way given for something not earned at all.
https://www.zerohedge.com/markets/worlds-biggest-shipper-cuts-10000-jobs-warns-subdued-global-trade
“World’s Biggest Shipper Cuts 10,000 Jobs, Warns Of Subdued Global Trade”
The only two job markets that increased were government and healthcare sooo if you don’t make people sick you treat them.
Government and healthcare are the only two that showed any gain everything else is in low hold.
Feds can’t make any real ground and the markets have been flat lined for 2 years.
“I actually saw some road construction people in Illinois actually working. Usually the lanes are shut down and no one in sight.”
Well, of course, they have to cut holes in the road surface everywhere before the snow comes so there is no way to temporarily open them until spring, and to make sure snow plowing is blocked as much as possible to inconvenience the maximum number of people. I am pretty sure their contract pay is based on inconvenience scores.
We were once stopped on I-39 Northbound for over an hour. I finally looked up the Illinois Department of Transportation, called, and registered a complaint. 10 minutes after that call, the traffic started moving again. I’m not saying my call had anything to do with it, because I bet a lot of people in that stoppage did the same thing.
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