I've got visibility into a lot of "tightening."
Innovation teams being laid off.
Projects being delayed.
New (non entry level) hiring slowed or stalled.
Companies passively fishing for discount talent.

When money gets more expensive (interest rate) and doesn't go as far (inflation) and front line labor becomes more scarce - business realities will reflect.

CDUB98 said:

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What is the U-6 number, not the U-3?

The low U-3 is based on how many people are not looking for work. It's a sham.

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U-6 is 6.6%. It went up 0.1% from last month, which was the all-time low dating back when it started being calculated in 1994. So, this only the second best reading in 29 years.

https://fred.stlouisfed.org/series/U6RATE

[Stop bypassing obscenity filters. Apparently you haven't learned from the shorter bans and warnings, so try a week this time. We'll keep increasing the length until you stop the behavior -- Staff]

I'm practically debt free. We're cutting way back on our spending this year. Putting kids through their camps but we're not splurging on a big vacation this summer. The cost of everything is too much to justify.

Franklin Comes Alive! said:

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Should be a fun revisit when the actual numbers are posted ("corrected") in 6 months or so

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Every jobs report the BLS releases gets revised, twice. This has always happened and will always do so.

Each month there's an initial reading for the month that just ended, a 2nd reading of the month before that, and a final reading on the month before that. It never happens 6 months later.


The most recent revisions have been towards the upside. In today's report, the final reading for November and the 2nd reading for December were revised upwards by a cumulative 71K.

It's a never-dying meme on Texags that the revisions were always positive under Trump but always quietly negative when there's a Dem president. The nerds at the BLS are all deep staters that cook the books to make Dems look good and GOP bad...yada yada. t's just not true. Historically, revisions end up about 50/50 regardless of administration.

The current director of the BLS was appointed by Trump in March 2019. Was he playing it straight until 1/20/21 but turned coat and is cheating again?

Yes....the massive layoffs at microsoft and Amazon were all just smoke and mirrors.

The real truth is located in the metric that we know the government can manipulate by simply not counting people who are no longer looking for a job because they have given up or now know they can live almost as well by collecting welfare.

Yes, pay no attention to the outrageous increase in prices, ****ty economy, and general malaise. Bogus statistics to the rescue!

AggieCo2023 said:

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Still improving though

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Despite the current Biden administration screw ups... That is the real news.

We will have two trends for the next 50 years or more:

Low unemployment and shrinking GDP. These will be the constants because:

10,000 Baby Boomers reach retirement age every day in the USA alone and the number of working age adults is shrinking every day because of low birth rates world wide.

When there are fewer people to buy goods the economy will shrink. When there are fewer people to fill jobs you get stupid numbers like the one the OP posted. The USA is insulated more than others because of illegal immigration and Mexico's demographics are stronger than most. So our GDP may be more flat in the coming years while china and Europe shrink 2-4% per year.

Are they creating jobs or just replacement jobs for retirees?

If 300,000 a month are retiring and 250,000 got laid off last month and you add 510,000 jobs this month what is the net effect?

Then add on inflation and you get our current state of affairs.

Biden claiming his policy is working. Bologna. If it were not for the inflation, the debt increase, illegal alien burn den, government waist, productivity decline, etc. I might try and understand. Just think where we could be in many areas of the economy if it were not for fraudulent waist and spending.

Biden claims lower energy cost. What? Energy of all forms is up. Food cost are up. Interest cost are up. On and on.

Ellis Wyatt said:

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Yes, pay no attention to the outrageous increase in prices, ****ty economy, and general malaise. Bogus statistics to the rescue!

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Think about the fact they share these hugely obtuse, myopic, immateur and uninformed take with a new batch of HS students year and year out.

Then you realize the fight that must be had to weed wicked indoctrination of DNC socialist ideals from our Country.

AggieCo2023 said:

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lol I'm sorry I can't spend 24 hours a day on TexAgs

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But you have plenty of time to locate and post propaganda.

CDUB98 said:

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What is the U-6 number, not the U-3?

The low U-3 is based on how many people are not looking for work. It's a sham.

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This report doesn't jive at all with the ADP numbers from a couple of days ago. Something is rotten in the state of Denmark.



Private sector job growth cools to 106k in January

Correction said:

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Franklin Comes Alive! said:

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Should be a fun revisit when the actual numbers are posted ("corrected") in 6 months or so

---

Every jobs report the BLS releases gets revised, twice. This has always happened and will always do so.

Each month there's an initial reading for the month that just ended, a 2nd reading of the month before that, and a final reading on the month before that. It never happens 6 months later.


The most recent revisions have been towards the upside. In today's report, the final reading for November and the 2nd reading for December were revised upwards by a cumulative 71K.

It's a never-dying meme on Texags that the revisions were always positive under Trump but always quietly negative when there's a Dem president. The nerds at the BLS are all deep staters that cook the books to make Dems look good and GOP bad...yada yada. t's just not true. Historically, revisions end up about 50/50 regardless of administration.

The current director of the BLS was appointed by Trump in March 2019. Was he playing it straight until 1/20/21 but turned coat and is cheating again?

---

The TDS is strong with this one.

spider96 said:

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CDUB98 said:

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What is the U-6 number, not the U-3?

The low U-3 is based on how many people are not looking for work. It's a sham.

---

This report doesn't jive at all with the ADP numbers from a couple of days ago. Something is rotten in the state of Denmark.

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The explanation is simple: trust nothing that comes out of our piece of **** corrupt government or any of its unhinged cheerleaders. They're liars.

Quote:

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Should be a fun revisit when the actual numbers are posted ("corrected") in 6 months or so

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Yep. What came out today is nothing but a Bald Face Lie. Probably all economic data coming out of this Admin is at least exaggerated if not an out right lie.

They will quietly adjust the numbers in 6-9 months just like they did for last Spring-Summers numbers about a month ago.

Yet, half the people in this country refuse to even question any of it despite what they are seeing around them.

Are you graduating this year? Hope not for your sake.

Job numbers bad, Texags: "the economy is in shambles and Biden is the worst president in history!"

Job numbers good, Texags: "the economy is in shambles and Biden is the worst president in history!"

I'm aware that this is how it works on both sides, but it's still funny. Hard to believe there won't be a recession at some point after all the wild swings of the last few years, but right now the economy is still humming along.

My company is laying off 5% soon, which is low compared to others. These reports are nothing but lies.

And yet the federal government cant pay its bills to teh American people and the nation is looking squarely at the insolvency of Social Security.

I guess we'll need a negative unemployment rate to catch up. Good luck to the generations that haven't been born yet!

amercer said:

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Job numbers bad, Texags: "the economy is in shambles and Biden is the worst president in history!"

Job numbers good, Texags: "the economy is in shambles and Biden is the worst president in history!"

I'm aware that this is how it works on both sides, but it's still funny. Hard to believe there won't be a recession at some point after all the wild swings of the last few years, but right now the economy is still humming along.

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" but right now the economy is still humming along."


Not it isn't, 100% BS. Economy has stagnated, corporations cutting spending, pulling back. Real-estate is a wreck .

AggieCo2023 said:

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BREAKING: The US jobs report for January is in.

-Payrolls increase 517,000 (vs. estimates of 188,000)
-US unemployment rate falls to 3.4% (vs. estimates of 3.5%)https://t.co/YaQTCWHYMG pic.twitter.com/LkSvjT9bs5

— Bloomberg (@business) February 3, 2023

I'm sure the stock market won't like this as the FED and elites want normal Americans to suffer and lose their jobs. So glad to see the labor market is still very strong.

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Still haven't come close to recover from the drop in the labor participation rate in Jan.-Feb. 2020.

EDIT: I am late to the party, this was posted by AlaskanAg99

Anecdotal, but one interesting thing is over the last two to three months we're getting a ton more applicants to our jobs than one year and two years ago.

Señor Chang said:

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I've seen this one before.

https://nypost.com/2022/12/22/biden-administration-overstated-q2-job-growth-by-1-million-philadelphia-fed/

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The Democratic Party leadership lies as easily as they breathe. It is apparently part of their job description to become a sociological liar.

edit spelling

Houstonag said:

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Biden claiming his policy is working. Bologna. If it were not for the inflation, the debt increase, illegal alien burn den, government waist, productivity decline, etc. I might try and understand. Just think where we could be in many areas of the economy if it were not for fraudulent waist and spending.

Biden claims lower energy cost. What? Energy of all forms is up. Food cost are up. Interest cost are up. On and on.

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agreed. Just wondering if the word "waist" in your post is an intended pun?

DallasAg 94 said:

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Most people on hear forget that both these numbers:

500K+ Jobs
3.2 Unemployment

Those are fake numbers that have been published in order for Biden to tout his work on the economy for the State of the Union.

Numbers will be revised after the dog-and-pony show.

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Based on the past history of the Democratic Party leadership I believe you may be correct.

AggieCo2023 said:

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Still improving though

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When you cut off your arm, it will heal but it's never going to grow back.

I guess as it's scabbing over, you could say it's still improving.

Premium said:

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Anecdotal, but one interesting thing is over the last two to three months we're getting a ton more applicants to our jobs than one year and two years ago.

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I'm getting applications but I'm not getting approved job reqs to hire folks.

AggieCo2023 said:

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BREAKING: The US jobs report for January is in.

-Payrolls increase 517,000 (vs. estimates of 188,000)
-US unemployment rate falls to 3.4% (vs. estimates of 3.5%)https://t.co/YaQTCWHYMG pic.twitter.com/LkSvjT9bs5

— Bloomberg (@business) February 3, 2023

I'm sure the stock market won't like this as the FED and elites want normal Americans to suffer and lose their jobs. So glad to see the labor market is still very strong.

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Remember when the BLS reported the largest increase in employment between the first Obama-Romney debate (disastrous for Obama) and the second?

I remember.
Democrats have believed cooked up government numbers for a long time.
I mean it's why they are democrats. Government is their temple, and Biden is their god.

AggieCo2023 said:

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lol I'm sorry I can't spend 24 hours a day on TexAgs

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I wish you would spend more time here.

The delusion behind your posts is quite entertaining.

AlaskanAg99 said:

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https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm

You can check out an interactive graph at the link.

We're not back yet to pre-pandemic levels. And that's with "liveable wages" in most states.

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Ignoring the debate about whether the current numbers are accurate...

If we had the same labor participation rate that we had in 2008 (66% vs 62%),
that 3.4% unemployment figure would be 9%

doesnt count

now do inflation

Quote:

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-Payrolls increase 517,000 (vs. estimates of 188,000)

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Not sure I'd celebrate the statistics from people that are that bad at forecasting.

I wonder if Biden has any major speeches planned where he could trumpet this news?