678,000 new jobs in February. Unemployment falls to 3.8%

[bubbabgone]

"It's only returning jobs. Here's a link not proving anything I just said."

Geezuz keerist. It's even in the text carried with the link.
" ... the U.S. economy regained 18.8 million jobs of the 20 million jobs that were lost at the height of the COVID-19 pandemic in April 2020."
I think your bias has left you in denial.

 

[Outlook]

^^^ you want the country to fail...
sick Sick SICK...
-PEACE OF SHIT

View attachment 67378470​

You are as dumb as a rock. This is a forum with opinions. Why don't you show me where I said "you want the country to fail". What an A-hole

 

[ModerationNow!]

More economic booming.

February jobs rose a surprisingly strong 678,000, unemployment edged lower while wages were flat

Nonfarm payrolls for the month grew by 678,000 and the unemployment rate was 3.8%, the Labor Department reported Friday.

www.cnbc.com

The vast majority are not new jobs. These are RECOVERED jobs lost as a result of Covid, particularly in blue states with the most extreme and longest lasting covid restrictions and lockdowns.

The official govt unemployment is almost as deceptively useless as the official govt inflation rate. That's because it only shows people who've filed for unemployment relatively recently. It doesn't reflect the true number of unemployed people, such as people who've been out of work since 2020.

It also doesn't reflect the tens of thousands of small companies and their employees, who were forced out of business by covid in 2020, never to reopen and never to rehire their employees.

 

[poweRob]

The vast majority are not new jobs. These are RECOVERED jobs lost as a result of Covid, particularly in blue states with the most extreme and longest lasting covid restrictions and lockdowns.

The official govt unemployment is almost as deceptively useless as the official govt inflation rate. That's because it only shows people who've filed for unemployment relatively recently. It doesn't reflect the true number of unemployed people, such as people who've been out of work since 2020.

You have been beat to your talking points by several other nay saying talking point bots. There is no metric to what jobs were eliminated by efficiencies perfected during COVID and what are actual new jobs. But you all will by all means keep shitting on a great economy that is booming. I guess the exploding GDP is actual new GDP growth but just returing GDP?

And excessive corporate profit made by excessive profit margins proves that this "inflation" is merely price gouging.

It also doesn't reflect the tens of thousands of small companies and their employees, who were forced out of business by covid in 2020, never to reopen and never to rehire their employees.

So here's you admitting that those jobs are gone "never to reopen again and never to rehire their employees" and are indeed replaced by new jobs. You flat out argued against your own self in the same exact post. Incredible.

 

[HangLow]

Republicans voted against
the American Rescue plan
-peace

​

 

[Outlook]

Republicans voted against
the American Rescue plan
-peace

View attachment 67378960​

LOL Biden didn't create any jobs. These are existing jobs pre-pandemic.
The American Rescue Plan placed another 1.9 trillion into the economy and helped fuel inflation. The two democrats that voted against it knew it.
This also was a factor in the labor shortage.
As you will recall the monthly job numbers didn't meet expectations until people ran out of government money.

 

[Outlook]

Republicans voted against
the American Rescue plan
-peace

View attachment 67378960​

Obviously you missed my post #35.

In February, the unemployment rate edged down to 3.8 percent, and the number of unemployed persons edged down to 6.3 million. In February 2020, prior to the coronavirus (COVID-19) pandemic, the unemployment rate was 3.5 percent, and the number of unemployed persons was 5.7 million

Among the unemployed, the number of persons on temporary layoff, at 888,000 in February, was little changed over the month. The number of permanent job losers, at 1.6 million in February, also changed little. Both measures are higher than their February 2020 levels of 780,000 and 1.3 million, respectively.

The labor force participation rate, at 62.3 percent in February, changed little over the month.

The number of persons employed part time for economic reasons increased by 418,000 to 4.1 million in February but remains below its February 2020 level of 4.4 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs.

The number of persons not in the labor force who currently want a job declined by 349,000 to 5.4 million in February. This measure is above its February 2020 level of 5.0 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job

Among those not in the labor force who wanted a job, the number of persons marginally attached to the labor force, at 1.5 million, changed little in February. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, was little changed over the month at 391,000.

In February, 4.2 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic

 

[HangLow]

LOL Biden didn't create any jobs. These are existing jobs pre-pandemic.
The American Rescue Plan placed another 1.9 trillion into the economy and helped fuel inflation. The two democrats that voted against it knew it.
This also was a factor in the labor shortage.
As you will recall the monthly job numbers didn't meet expectations until people ran out of government money.

reading comprehension issues, yes?
did I say Biden created any jobs?
rePukes are such idiotic dumbasses...
-peace

 

[HangLow]

Obviously you missed my post #35.

In February, the unemployment rate edged down to 3.8 percent, and the number of unemployed persons edged down to 6.3 million. In February 2020, prior to the coronavirus (COVID-19) pandemic, the unemployment rate was 3.5 percent, and the number of unemployed persons was 5.7 million

Among the unemployed, the number of persons on temporary layoff, at 888,000 in February, was little changed over the month. The number of permanent job losers, at 1.6 million in February, also changed little. Both measures are higher than their February 2020 levels of 780,000 and 1.3 million, respectively.

The labor force participation rate, at 62.3 percent in February, changed little over the month.

The number of persons employed part time for economic reasons increased by 418,000 to 4.1 million in February but remains below its February 2020 level of 4.4 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs.

The number of persons not in the labor force who currently want a job declined by 349,000 to 5.4 million in February. This measure is above its February 2020 level of 5.0 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job

Among those not in the labor force who wanted a job, the number of persons marginally attached to the labor force, at 1.5 million, changed little in February. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, was little changed over the month at 391,000.

In February, 4.2 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic

thank you outlook...

 

[Michael Cole]

The vast majority are not new jobs. These are RECOVERED jobs lost as a result of Covid, particularly in blue states with the most extreme and longest lasting covid restrictions and lockdowns.

The official govt unemployment is almost as deceptively useless as the official govt inflation rate. That's because it only shows people who've filed for unemployment relatively recently. It doesn't reflect the true number of unemployed people, such as people who've been out of work since 2020.

It also doesn't reflect the tens of thousands of small companies and their employees, who were forced out of business by covid in 2020, never to reopen and never to rehire their employees.

The bold is in direct contradiction to your claim. Mumbo-jumbo invariably suffers this.

 

[Outlook]

reading comprehension issues, yes?
did I say Biden created any jobs?
rePukes are such idiotic dumbasses...
-peace

Biden sure took credit for the "historic job growth". LOL
Of course your post had nothing to do with giving credit to democrats for the "historic job growth". Who do you think your fooling?

Remarks by President Biden on the January Jobs Report | The White House

State Dining Room 11:50 A.M. EST THE PRESIDENT: Hey, folks. Good morning. It’s still morning by about 10 minutes. (Laughter.) I want to speak to you this morning about the extraordinary resilience and grit of the American people and American capitalism. Our country is taking everything that...

www.whitehouse.gov

People are so stupid to believe the lies of government, both right and left.
peace.

 

[Outlook]

The bold is in direct contradiction to your claim. Mumbo-jumbo invariably suffers this.

In February, 4.2 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic

 

[HangLow]

Biden sure took credit for the "historic job growth". LOL
Of course your post had nothing to do with giving credit to democrats for the "historic job growth".
Who do you think your fooling?

Remarks by President Biden on the January Jobs Report | The White House

State Dining Room 11:50 A.M. EST THE PRESIDENT: Hey, folks. Good morning. It’s still morning by about 10 minutes. (Laughter.) I want to speak to you this morning about the extraordinary resilience and grit of the American people and American capitalism. Our country is taking everything that...

www.whitehouse.gov

People are so stupid to believe the lies of government, both right and left.
peace.

do try a little proofreading in the future...
-peace

 

[MrWonka]

Not with inflation like this. The Fed must and will react and we'll see if they are too late or not, and how many hikes will be needed.

Inflation like this is a good problem to have. It may hurt a bit in the short term, but it shows we have an incredibly strong economy that is ready to roar back.
We can always raise interest rates and eliminate Trump's taxes if needs be.

 

[MrWonka]

They're really not new jobs, are they. They're old jobs coming back.

Really? Where did they go? If Biden is bringing them back then who lost them?

Once again a Democrat is about to preside over an incredibly strong economy that was ruined by a Republican.

 

[Michael Cole]

In February, 4.2 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic

Okay. Irrelevant to my point, but thanks.

You can't claim these are returning jobs and simultaneously claim businesses closed never to reopen. If 4.2 million jobs were lost (hard to believe), then at least 4.2 million of the jobs created under Biden were not returning jobs. So, just about all of them.

 

[Outlook]

. If 4.2 million jobs were lost (hard to believe),

https://www.bls.gov/news.release/pdf/empsit.pdf

Yea hard to believe coming from the Bureau of Labor Statistics. You know the numbers Joe uses when he says he created jobs and the unemployment is down 3.8. He simply doesn't mention everything in the report.

 

[Outlook]

do try a little proofreading in the future...
-peace

LOL
I get a "like" from you on my post #61 then a criticism for the same post under your post of #63.
What did you say about comprehension and proofreading?

 

[HangLow]

Biden sure took credit for the "historic job growth". LOL
Of course your post had nothing to do with giving credit to democrats for the "historic job growth". Who do you think your fooling?

Remarks by President Biden on the January Jobs Report | The White House

State Dining Room 11:50 A.M. EST THE PRESIDENT: Hey, folks. Good morning. It’s still morning by about 10 minutes. (Laughter.) I want to speak to you this morning about the extraordinary resilience and grit of the American people and American capitalism. Our country is taking everything that...

www.whitehouse.gov

People are so stupid to believe the lies of government, both right and left.
peace.

​

 

[SonOfDaedalus]

This should be good for some froth.

Soon we'll hear about the labor participation rate again. It's a subject that they mysteriously stopped talking about when Trump was in office. When unemployment falls under a Democrat as it did under Obama they claim people have just stopped looking for jobs.

 

[bubbabgone]

Really? Where did they go? If Biden is bringing them back then who lost them?

Once again a Democrat is about to preside over an incredibly strong economy that was ruined by a Republican.

They're coming back but Biden's not bringing them back.

 

[Outlook]

View attachment 67378978​

In April 2020, the unemployment rate reached 14.8%—the highest rate observed since data collection began in 1948. In July 2021, unemployment remained higher (5.4%) than it had been in February 2020 (3.5%).  The labor force participation rate declined to 60.2% in April 2020—a level not seen since the early 1970s—then began a partial recovery in May 2020. The labor force participation rate was 61.7% in July 2021, 1.7 percentage points below the level in January 2020, before the pandemic and the economic recession.

https://sgp.fas.org/crs/misc/R46554.pdf

Once the government checks stopped and the democrats started opening up their states, where did you think 14.8% unemployment would head?

 

[Outlook]

View attachment 67378978​

Why isn't Biden helping his base? Blacks are not seeing the benefits of these historic job growth.

The unemployment rates for white people (3.2%), Asian American people (3.8%) and Latino or Hispanic people (4.9%) declined in December. The unemployment rate for Black people, however, increased from 6.5% in November to 7.1% in December.

In December, total nonfarm payroll employment increased by 199,000 (lower than the 422,000 forecasted). Too much free government money still out their in December.

 

[Greenbeard]

In December, total nonfarm payroll employment increased by 199,000 (lower than the 422,000 forecasted). Too much free government money still out their in December.

Uh, no. The number was reported at +199,000 initially. First revision (last month) revised that up by 311,000 to +510,000 jobs created in December. Second revision (this month) revised up a further 78,000 to a total +588,000 jobs created in December. It's right in this month's job report.

The change in total nonfarm payroll employment for December was revised up by 78,000, from +510,000 to +588,000, and the change for January was revised up by 14,000, from +467,000 to +481,000. With these revisions, employment in December and January combined is 92,000 higher than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)

This has been a common story for the past year: headline numbers coming out lower than reality and (quietly) getting revised upward later. Which leads to the false perception (see your post) that a given month substantially underperformed expectations when in reality it substantially outperformed them.

 

[Outlook]

View attachment 67378978​

Florida unemployment rate as of 12/2021 is 3.5%
Nebraska has the lowest rate at 2.4%
NYS unemployment rate at 5.7%
California unemployment rate at 5.8%.
Why???

Why did this historic job growth benefit Florida, Nebraska and other red states more than blue states? Perhaps because of lock down and mandate policies by governors?
May be it benefited all the states but more so in red states? Why is that?
Of course the governors had nothing to do with these historic numbers. It's all due to Biden, my hero.