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US employers add a still-solid 187,000 jobs in July; unemployment dips to 3.5%

Juggernaut74

Juggernaut74

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Given history, there's bound to be a recession in the next few years. If you look at unemployment, we rarely stay at full employment for more than a few years (if ever)? Just part of the business cycle.

Having said that, it is impressive how strong the economy still is after raising rates 5%+ after nearly a decade of 0% rates.
 
The Federal Reserve, given the sometimes conflicting responsibilities set for it by the Congress of the United States of America, has done a creditable job of carrying out its mission. Its levers of control are attached to functional mechanisms.

It is amusing to contrast reality with the comments of some of the 'conservative' AM radio talk show hosts.

Regards, stay safe 'n well.
 
ScrambledEggs said:
Given history, there's bound to be a recession in the next few years. If you look at unemployment, we rarely stay at full employment for more than a few years (if ever)? Just part of the business cycle.

Having said that, it is impressive how strong the economy still is after raising rates 5%+ after nearly a decade of 0% rates.
Click to expand...
It is hitting the future, right now, as development is slowing, we are building less. Granted, this is in the construction industry. So I would look at the next 2 quarters before we jump to any conclusions.

Right now, we are still inflationary, and hopefully avoid recession but the $$ made are going less far, and that is what is hurting the average Americans. In my mind, touting a strong economy in this instance is worth less.
 
Juggernaut74 said:
apnews.com

Fewer Americans got jobs in July than expected. But a steady market suggests US may avoid recession

The job market has cooled over the summer. But it’s still strong enough to defy predictions that higher interest rates would tip the United States into recession.
apnews.com apnews.com

More good economic news. Not too long ago 187,000 jobs would have been a huge boon - now it’s just ho-hum.

Looking more and more like the Fed is going to accomplish its soft landing goals.
Click to expand...
Stupid Biden. The old fool can only generate good economic news. Too confused to mix it up.
 
ScrambledEggs said:
Given history, there's bound to be a recession in the next few years. If you look at unemployment, we rarely stay at full employment for more than a few years (if ever)? Just part of the business cycle.

Having said that, it is impressive how strong the economy still is after raising rates 5%+ after nearly a decade of 0% rates.
Click to expand...
It's called fighting inflation

Thus the hike in interest rates

It's the only weapon
 
Juggernaut74 said:
apnews.com

Fewer Americans got jobs in July than expected. But a steady market suggests US may avoid recession

The job market has cooled over the summer. But it’s still strong enough to defy predictions that higher interest rates would tip the United States into recession.
apnews.com apnews.com

More good economic news. Not too long ago 187,000 jobs would have been a huge boon - now it’s just ho-hum.

Looking more and more like the Fed is going to accomplish its soft landing goals.
Click to expand...
And you just know Cons will hate this news in the run up to 2024.
 
yankintx said:
It's called fighting inflation

Thus the hike in interest rates

It's the only weapon
Click to expand...

Hi, yankintx.

With regard to the last sentence above, there are other methods. Here's some information on one of them:

www.stlouisfed.org

Why Price Controls Should Stay in the History Books

Prices allocate scarce resources. Price controls distort those signals, leading to the inefficient allocation of goods and services.
www.stlouisfed.org www.stlouisfed.org

Regards, stay safe 'n well.
 
Juggernaut74 said:
apnews.com

Fewer Americans got jobs in July than expected. But a steady market suggests US may avoid recession

The job market has cooled over the summer. But it’s still strong enough to defy predictions that higher interest rates would tip the United States into recession.
apnews.com apnews.com

More good economic news. Not too long ago 187,000 jobs would have been a huge boon - now it’s just ho-hum.

Looking more and more like the Fed is going to accomplish its soft landing goals.
Click to expand...
It also looks more and more like more rate hikes are coming.
 
yankintx said:
And you just know Cons will hate this news in the run up to 2024.
Click to expand...
We should probably get past the pats on the back, and what you (or anyone else) will think that the Cons would think. There is plenty to discuss about the economy and suffice it to say, right now, it is not all sunshine and butterflies

Politicizing the economy is stupid. (Yes, I know, they all do it) We need to be able to evaluate what it is doing, and how it affects the American populace, so that we can ensure a better life for us all.
 
Cope said:
We should probably get past the pats on the back, and what you (or anyone else) will think that the Cons would think. There is plenty to discuss about the economy and suffice it to say, right now, it is not all sunshine and butterflies

Politicizing the economy is stupid. (Yes, I know, they all do it) We need to be able to evaluate what it is doing, and how it affects the American populace, so that we can ensure a better life for us all.
Click to expand...
Is that what you're doing?
 
Cope said:
It is hitting the future, right now, as development is slowing, we are building less. Granted, this is in the construction industry. So I would look at the next 2 quarters before we jump to any conclusions.

Right now, we are still inflationary, and hopefully avoid recession but the $$ made are going less far, and that is what is hurting the average Americans. In my mind, touting a strong economy in this instance is worth less.
Click to expand...
Just as weather is not climate, individual spending issues are not the economy.

"Given these headwinds and tailwinds, we expect overall consumer spending growth to slow to 1.9% in 2023 from 2.8% in 2022; growth is expected to remain almost the same next year.May 30, 2023"
www2.deloitte.com

Tailwinds favor consumer spending on services

The May 2023 Economics Spotlight examines the tailwinds that seem poised to favor consumer spending on services in 2023–2024
www2.deloitte.com
 
Cope said:
We should probably get past the pats on the back, and what you (or anyone else) will think that the Cons would think. There is plenty to discuss about the economy and suffice it to say, right now, it is not all sunshine and butterflies

Politicizing the economy is stupid. (Yes, I know, they all do it) We need to be able to evaluate what it is doing, and how it affects the American populace, so that we can ensure a better life for us all.
Click to expand...
What? I read the article as being chock full of sunshine and butterflies. Why do you say it's not. Is the article wrong? Tell us what's so terrible about today's Biden economy.
 
mrjurrs said:
Just as weather is not climate, individual spending issues are not the economy.
Click to expand...
Individual spending, taken in total, IS a big issue with the people of this country. In fact, when politicians tout the 'strong' economy and it flies in the face of what the average American is seeing, it isn't helpful.
mrjurrs said:
"Given these headwinds and tailwinds, we expect overall consumer spending growth to slow to 1.9% in 2023 from 2.8% in 2022; growth is expected to remain almost the same next year.May 30, 2023"
www2.deloitte.com

Tailwinds favor consumer spending on services

The May 2023 Economics Spotlight examines the tailwinds that seem poised to favor consumer spending on services in 2023–2024
www2.deloitte.com
Click to expand...
 
Torus34 said:
Hi, yankintx.

With regard to the last sentence above, there are other methods. Here's some information on one of them:

www.stlouisfed.org

Why Price Controls Should Stay in the History Books

Prices allocate scarce resources. Price controls distort those signals, leading to the inefficient allocation of goods and services.
www.stlouisfed.org www.stlouisfed.org

Regards, stay safe 'n well.
Click to expand...
The US has never used price controls, ever.

Certainly not for inflation

It's smacks of big government
 
Cope said:
It is hitting the future, right now, as development is slowing, we are building less. Granted, this is in the construction industry. So I would look at the next 2 quarters before we jump to any conclusions.

Right now, we are still inflationary, and hopefully avoid recession but the $$ made are going less far, and that is what is hurting the average Americans. In my mind, touting a strong economy in this instance is worth less.
Click to expand...
This is a good comment. Down in Miami cost of living spiked and just keeps spiking every year.

I understand it's a supply and demand thing so the owners of these apartments/house no matter how high they jack up the rent there's always people renting it out.

I own a business and my lease been just got renewed by $5,000/33% and I have to also take it cause building a new space out is something we can't afford.

So when that happens the only way I can combat that is also jack up the price on our services so we can survive and also my workers can get raises to keep up with cost of living.

I think rent control would go a long way to curb inflation
 

1691172288187.png​

1) Given that it would appear that the Republicans can no longer run on the economy as a 2024 Election issue, be prepared for them to "double-down" on Hunter Biden, transsexuals, WOKE, teachers, African studies, gun ownership ...​


2) Without the economy, Republicans have been painted into a corner, where their only alternative is to focus all their energy on the "character assassination" of President Biden and the promoting of what has proven to be their unpopular conservative social agenda - as evidenced by the Ron DeSantis Campaign!

3) Major Republicans achievements such as a conservative majority on the Supreme Court after 50 years, and the subsequent overturn of Roe v Wade may resonate with the BASE, but comes at a high political price - both of these successes can be added to the American economy as issues the Republicans would do best to avoid in a General Election!

4) Instead of the predicted "red wave," congressional Republicans were actually "punished" in the 2022 Interim Election - the American public held the Party responsible for "politicizing" the Supreme Court with its repeated 6-3 majority decisions that often didn't reflect the opinions held by most Americans, as demonstrated by the repeal of Roe v Wade, a ruling opposed by 62% of the nation!

5) Traditionally the Supreme Court has remained the one branch of government in which Americans place their greatest trust, approval polls for SCOTUS, however, currently register at 40% (74% Republicans, 13% Democrats, 40% Independents), down from an average of 51% over the past 23 years!

6) With the American economy, the conservative majority on the Supreme Court and the overturn of Roe v Wade as issues not available to the Republicans for the 2024 Election, political strategists will now be forced to be "creative" in inventing a GOP Party platform - hoping against hope that the American public will accept a campaign based on providing solutions for obscure "social problems" (WOKE, transsexuals, Black studies ...) that until recently, average citizens never knew existed!
news.gallup.com

Supreme Court Approval Holds at Record Low

Forty percent of Americans approve of the job the U.S. Supreme Court is doing, unchanged from the record low measured last fall.
news.gallup.com news.gallup.com
 
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jgarden47 said:

​

1) Given that it would appear that the Republicans can no longer run on the economy as a 2024 Election issue, be prepared for them to "double-down" on Hunter Biden, transsexuals, WOKE, teachers, African studies, gun ownership ...​


2) Without the economy, Republicans have been painted into a corner, where their only alternative is to focus all their energy on the "character assassination" of President Biden and the promoting of what has proven to be their unpopular conservative social agenda - as evidenced by the Ron DeSantis Campaign!
Click to expand...
The economy is still going to be front and center of any campaign issues, not sure why you state otherwise?
What corner?
 
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I use the stock market as the real measure of the economy. First becuase it's forward looking rather than backwards looking and Second it's void of all the political nonsense.
 
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