US hiring cools in December as economy adds just 199,000 new jobs

[Conservative]

US hiring cools in December as economy adds just 199,000 new jobs

U.S. job growth accelerated in December, before the rapid spread of the new omicron coronavirus variant cast a fresh threat over the economy and its recovery from the pandemic.

www.foxbusiness.com

U.S. job growth faltered in December just as the rapid spread of the new omicron coronavirus variant cast a fresh threat over the economy and its recovery from the pandemic.

The Labor Department said in its monthly payroll report released Friday that payrolls in December rose by 199,000, sharply missing the 400,000 jobs forecast by Refinitiv economists. The unemployment rate, which is calculated based on a separate survey, dropped to 3.9% from 4.2% — the lowest level since the pandemic began.

The labor market had been gaining momentum after a delta-induced slowdown over the summer, but the latest figure represents the second consecutive month of worse-than-expected growth, following upwardly revised gains of 249,000 in November and 648,000 in October. The last time job growth was this slow was in December 2020, when employers cut 306,000 positions.

Now I know that the left radical Biden supporters will tout as usual the U-3 unemployment rate but the reality exists the target for Biden is 159 million employed and 63.4% labor participation rate(Pre pandemic February 2020). One of these days the supporters of Biden and the left are going to realize that rhetoric, massive central gov't, and gov't spending aren't the answer, Promoting the private sector and allowing people to drive it through consumer spending is

https://data.bls.gov/cgi-bin/surveymost?ln

 

[Tender Branson]

Since summer, 4.5 million people were added to the employment rolls - a record.

It was 151.5 million employed in June vs. 156 million in December.

That is still 3 million below February 2020, but the way this is going it will be reached by mid to end 2022.

In the last month alone, the employment went up 650.000, from 155.3 million to 156 million.

The UE rate is 3.9%, just 0.4% above the recent low in early 2020.

 

[Gateman_Wen]

US hiring cools in December as economy adds just 199,000 new jobs

U.S. job growth accelerated in December, before the rapid spread of the new omicron coronavirus variant cast a fresh threat over the economy and its recovery from the pandemic.

www.foxbusiness.com

Now I know that the left radical Biden supporters will tout as usual the U-3 unemployment rate but the reality exists the target for Biden is 159 million employed and 63.4% labor participation rate(Pre pandemic February 2020). One of these days the supporters of Biden and the left are going to realize that rhetoric, massive central gov't, and gov't spending aren't the answer, Promoting the private sector and allowing people to drive it through consumer spending is

https://data.bls.gov/cgi-bin/surveymost?ln

Currently hiring is directly related to covid surges. The above data is meaningless

 

[Tender Branson]

Does anyone know why there is such a huge discrepancy between the 2 monthly surveys from the Bureau of Labour Statistics ?

One measures the job gains via a survey of businesses (the figure mentioned in the article), which was +200k for December.

The other survey, which measures households, has an increase of 650k for December in employment.

 

[Gateman_Wen]

rhetoric, massive central gov't, and gov't spending aren't the answer

Then why did you cheer when tRumo did it?

 

[Indlib]

US hiring cools in December as economy adds just 199,000 new jobs

U.S. job growth accelerated in December, before the rapid spread of the new omicron coronavirus variant cast a fresh threat over the economy and its recovery from the pandemic.

www.foxbusiness.com

Now I know that the left radical Biden supporters will tout as usual the U-3 unemployment rate but the reality exists the target for Biden is 159 million employed and 63.4% labor participation rate(Pre pandemic February 2020). One of these days the supporters of Biden and the left are going to realize that rhetoric, massive central gov't, and gov't spending aren't the answer, Promoting the private sector and allowing people to drive it through consumer spending is

https://data.bls.gov/cgi-bin/surveymost?ln

Weren't you the one espousing "context" yesterday?

What happened to that?

 

[Tender Branson]

Does anyone know why there is such a huge discrepancy between the 2 monthly surveys from the Bureau of Labour Statistics ?

One measures the job gains via a survey of businesses (the figure mentioned in the article), which was +200k for December.

The other survey, which measures households, has an increase of 650k for December in employment.

Anyway, even the 200k increase is solid monthly job growth.

It would be +2.4 million new jobs a year on average, despite the USA population only up +400k last year.

That would even make up for many boomers retiring.

And the +650k increase - if true - would be phenomenal.

And despite this, there is already a shortage of workers in several areas, such as trucking - which the recent Central American immigrants might fill.

 

[Taylor]

Does anyone know why there is such a huge discrepancy between the 2 monthly surveys from the Bureau of Labour Statistics ?

One measures the job gains via a survey of businesses (the figure mentioned in the article), which was +200k for December.

The other survey, which measures households, has an increase of 650k for December in employment.

The household survey measures the number of employed individuals. It include a broader range of sectors (e.g. agriculture, unpaid family members in a family business, etc.) and counts people as employed even if you're on unpaid leave.

The payroll survey provides an estimate of jobs and only counts those who received paychecks.

The household survey will always be higher than the payroll survey.

 

[Taylor]

Anyway, even the 200k increase is solid monthly job growth.

It's certainly better than the alternative, but below expectations.

 

[gulfman]

Currently hiring is directly related to covid surges. The above data is meaningless

It's related to Biden's failed policies.

 

[Taylor]

Currently hiring is directly related to covid surges. The above data is meaningless

Wrong.

The data is pre-Omicron and post-Delta.

 

[Conservative]

Since summer, 4.5 million people were added to the employment rolls - a record.

It was 151.5 million employed in June vs. 156 million in December.

That is still 3 million below February 2020, but the way this is going it will be reached by mid to end 2022.

In the last month alone, the employment went up 650.000, from 155.3 million to 156 million.

The UE rate is 3.9%, just 0.4% above the recent low in early 2020.

That is accepting liberal rhetoric ignoring that it isn't the gov't that creates jobs, it is the private sector. It is the government's role to promote incentive not scare the hell out of private businesses by higher taxes. You keep buying the rhetoric and keep ignoring the fact that liberal solutions to our private sector is gov't spending paid for by the private sector. Labor participation rate is a measuring statistic that the left wants to ignore. Paying people to stay home drives down that rate and that impacts inflation thus costs of doing business and cost of living

It is easy to compare Obama/Biden performance to Reagan/Trump performance but that reality isn't something the left wants to compare. There is a difference between NEW job creation and job growth(returning jobs is job growth)

Reagan employment pre recession 99 million, 1988 116 million

Trump employment 152 million January 2017 159 million February 2020

Obama employment 146 million per recession, 152 million January 2017

Biden employment 159 million per pandemic, 156 million today

Promoting the private sector works and puts people back on the job. Paying people to stay home impacts inflation as it doesn't increase supply

 

[Conservative]

Weren't you the one espousing "context" yesterday?

What happened to that?

What context am I missing and yes context matters.

 

[Indlib]

What context am I missing and yes context matters.

The context suspiciously missing from the copy/pasted portion of the article and also from your partison BDS tirade.

From your article...

"Rising virus cases also pose a new risk to the labor market in 2022: The December report only includes data from the first half of the month, before a stunning rise in cases driven by the highly transmissible omicron variant. The U.S. is now reporting a seven-day moving average of more than 540,000 cases.

"Today's jobs report is a disappointing bookend to a historic year in the job market," said Daniel Zhao, senior economist at Glassdoor. "The year ended on a sour note, with job gains slowing even more than in November. New and unpredictable waves of COVID-19 variants threaten to throw the recovery into reverse, showing that we’re still at the mercy of the pandemic.""

 

[gbg3]

This 199,000 number was a HUGE miss. The expected number was 450,000.
The labor force participation rate (those working or looking for work) is near its lowest since 1977 - 45 years ago!

 

[Conservative]

The context suspiciously missing from the copy/pasted portion of the article and also from your partison BDS tirade.

From your article...

"Rising virus cases also pose a new risk to the labor market in 2022: The December report only includes data from the first half of the month, before a stunning rise in cases driven by the highly transmissible omicron variant. The U.S. is now reporting a seven-day moving average of more than 540,000 cases.

"Today's jobs report is a disappointing bookend to a historic year in the job market," said Daniel Zhao, senior economist at Glassdoor. "The year ended on a sour note, with job gains slowing even more than in November. New and unpredictable waves of COVID-19 variants threaten to throw the recovery into reverse, showing that we’re still at the mercy of the pandemic.""

Yes typical liberal excuse making and total ignorance of economic policies implemented by red and blue states. Keep making excuses for poor liberal results and refusing to answer why you continue to support this ideology. Blame is what the left promotes, now blame on the Red States for Covid but taking credit for red state economic performance. why are liberals hypocrites?

 

[Indlib]

Yes typical liberal excuse making and total ignorance of economic policies implemented by red and blue states. Keep making excuses for poor liberal results and refusing to answer why you continue to support this ideology. Blame is what the left promotes, now blame on the Red States for Covid but taking credit for red state economic performance. why are liberals hypocrites?

So after showing you the context you left out you, you move the goal posts by parrotting the old right wing "red states good blue states bad" narrative.

How patriotic of you.

 

[rahl]

That is accepting liberal rhetoric ignoring that it isn't the gov't that creates jobs, it is the private sector. It is the government's role to promote incentive not scare the hell out of private businesses by higher taxes. You keep buying the rhetoric and keep ignoring the fact that liberal solutions to our private sector is gov't spending paid for by the private sector. Labor participation rate is a measuring statistic that the left wants to ignore. Paying people to stay home drives down that rate and that impacts inflation thus costs of doing business and cost of living

It is easy to compare Obama/Biden performance to Reagan/Trump performance but that reality isn't something the left wants to compare. There is a difference between NEW job creation and job growth(returning jobs is job growth)

Reagan employment pre recession 99 million, 1988 116 million

Trump employment 152 million January 2017 159 million February 2020

Obama employment 146 million per recession, 152 million January 2017

Biden employment 159 million per pandemic, 156 million today

Promoting the private sector works and puts people back on the job. Paying people to stay home impacts inflation as it doesn't increase supply

it's ****ing hilarious when you chop off years of a presidents term, and add years to other presidents term.

 

[Conservative]

So after showing you the context you left out you, you move the goal posts by parrotting the old right wing "red states good blue states bad" narrative.

How patriotic of you.

Context? Context is liberal economic policies promotes massive gov't spending funded by the taxpayers not incentive for the private sector and still the left ignores that reality and places blame

So blue states good, red states bad except when "your" President takes credit for economic numbers skewed positively in red states then blame Red states for Covid spikes. what hypocrites

Patriotic? Do you even know what the word means? There isn't a more unpatriotic, selfish ideology than liberalism.

 

[ElChupacabra]

Anyway, even the 200k increase is solid monthly job growth.

It would be +2.4 million new jobs a year on average, despite the USA population only up +400k last year.

That would even make up for many boomers retiring.

And the +650k increase - if true - would be phenomenal.

And despite this, there is already a shortage of workers in several areas, such as trucking - which the recent Central American immigrants might fill.

It was pretty much in the range where monthly employment growth was during the previous administration:



This data is sourced from BLS, and if we look at the numbers, a 199k added jobs per month would have fit in nicely in any time between 2017 and 2019. The problem is expectations, and some are expecting jobs to grow at well above average rates consistently despite what's happening to impact job growth and participation. The latter as been on a steady decline for years now:

 

[rahl]

Context? Context is liberal economic policies promotes massive gov't spending funded by the taxpayers not incentive for the private sector and still the left ignores that reality and places blame

republicans outspend democrats by orders of magnitude lol.

So blue states good, red states bad except when "your" President takes credit for economic numbers skewed positively in red states then blame Red states for Covid spikes. what hypocrites

huh?

Patriotic? Do you even know what the word means? There isn't a more unpatriotic, selfish ideology than liberalism.

of course there is. conservatism.

 

[tres borrachos]

This 199,000 number was a HUGE miss. The expected number was 450,000.
The labor force participation rate (those working or looking for work) is near its lowest since 1977 - 45 years ago!

Baby boomers are retiring. Who knew that would happen?

 

[Callen]

Seems to me that it may be the economists that are screwing up their estimates. Every month is a miss one way or another and the next month they change the previous month's number. Either the job creation formula or the forecasting models, or both, need to be tweaked for the changing jobs scene.

Having said that, unemployment is at 3.9 % which is darn near full employment. It should not take a rocket scientist to figure out that you can't add jobs if there aren't people to take those jobs. In this market, the jobs number is driven by the availability of people to fill those jobs.

Of course, those on the right will call people who are choosing not to join the workforce all sorts of derisive names without having a clue what the answer is. I don't either but I did hear on the Business Channel that retirements have skyrocketed as have the numbers of self-employed and stay-at-home moms. Month after month people are quitting their jobs by the millions. The entire employment/work environment was upended with Covid yet some choose to continue to view it through a pre-covid lens.

 

[Conservative]

Seems to me that it may be the economists that are screwing up their estimates. Every month is a miss one way or another and the next month they change the previous month's number. Either the job creation formula or the forecasting models, or both, need to be tweaked for the changing jobs scene.

Having said that, unemployment is at 3.9 % which is darn near full employment. It should not take a rocket scientist to figure out that you can't add jobs if there aren't people to take those jobs. In this market, the jobs number is driven by the availability of people to fill those jobs.

Of course, those on the right will call people who are choosing not to join the workforce all sorts of derisive names without having a clue what the answer is. I don't either but I did hear on the Business Channel that retirements have skyrocketed as have the numbers of self-employed and stay-at-home moms. Month after month people are quitting their jobs by the millions. The entire employment/work environment was upended with Covid yet some choose to continue to view it through a pre-covid lens.

Right, 3.9% is damn near full employment ignoring of course the labor participation rate being among the lowest in history too. why do you tout economic policies that pay people to drop out of the labor force and stay home relying on the federal gov't to take care of them?

You ever going to explain your loyalty to an ideology that promotes massive central gov't?

 

[Indlib]

Context? Context is liberal economic policies promotes massive gov't spending funded by the taxpayers not incentive for the private sector and still the left ignores that reality and places blame

So do Republicans. Are you new?

So blue states good, red states bad except when "your" President takes credit for economic numbers skewed positively in red states then blame Red states for Covid spikes. what hypocrites

The President took credit? Personal credit? Maybe, although that sounds like something the former guy did.

Patriotic? Do you even know what the word means? There isn't a more unpatriotic, selfish ideology than liberalism.

So you you are against a free market economy based on the gold standard?

But yeah. To me being patriotic is not about bashing blue states. That is a characteristic our enemies perpetuate and angry tools fall for.

I guess if I wanted to do the job of our enemies, I could rail about how red states suck our healthcare system dry with their horrendous obesity rates...or perhaps how infastructure and education are always low in red states. Or how the opiate addiction problem being higher in red states.

I could go on but except for the above example I am a true patriot who doesn't try to win political debates by trashing half the country.

But hey, Russia and china etc thank you.