January jobs report shows payrolls grow by 130,000

8,387 Views | 182 Replies | Last: 16 days ago by flown-the-coop
infinity ag
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How is it that almost every jobs report is great, but people on Linkedin are still looking for jobs and many are about to become homeless?
The only way it is possible is if the Government is fudging numbers or indulging in some kind of creative accounting. Maybe they also include H1B numbers in it just so they can make a headline? Almost everyone I know is either struggling to get a new job or looking.

Our Govt is lying to us. Likely Walmart greeter jobs positioned as "growing employment" while our corps are sending all good jobs to India.

Trump better fix this fast and kill H1B and al other visas and tax offshoring else he will lose the midterms.

January jobs report smashes expectations as payrolls grow by 130,000
https://finance.yahoo.com/news/january-jobs-report-smashes-expectations-as-payrolls-grow-by-130000-184728478.html

Quote:

The economy added 130,000 jobs in January far more than economists had anticipated while the unemployment rate edged down to 4.3%, Labor Department data released Wednesday showed.
That's despite private data released last week that indicated the labor market remained bruising in January for out-of-work Americans, with little in the way of new jobs. Economists surveyed by Bloomberg had estimated a median gain of about 65,000 jobs in January's official report, though their projections varied widely: The highest saw 135,000 more jobs, while the lowest saw a loss of 10,000 roles.

twk
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4% is still a lot of people. And with social media, they are more visible than they used to be.
AxelFoley85
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I live in Dripping and the local tech job market is grim per many of my friends in the business. Anyone that has a job is heads down and busting ass to avoid the axe.
backintexas2013
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Because people think they "deserve" a better job. They have a way too high sense of themselves.
infinity ag
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backintexas2013 said:

Because people think they "deserve" a better job. They have a way too high sense of themselves.


What's wrong in that?
Sims
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They're not lying, they just make it too hard on themselves because they have phd's and what not.

Estimate:

=IFERROR(
IF(ResponseRate<0.75,
FORECAST.ETS(CurrentMonth,
HistoricalPayrolls*(1+BirthDeathModel),
Timeline,
Seasonality)
+ (ImputationFactor*IndustryTrend)
+ IF(SampleDecline=TRUE,
WEIGHT_ADJ*PopulationRatio,
0),
SUM(ReportedPayrolls)
)
+ BenchmarkDriftAdj
+ StructuralBreakPatch,
"Revised Next Year")

Revision:

=SUM(ActualPayrollRecords)
93MarineHorn
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infinity ag said:

backintexas2013 said:

Because people think they "deserve" a better job. They have a way too high sense of themselves.


What's wrong in that?

Over valuing your skill set is going to lead to big disappointment.
TRM
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These aren't accurate.

They've revised last yr's job total from around 590k to 181k, so the tepid job growth was worse than what was thought.

There were 137k jobs created for healthcare in January so that means the other sectors lost 7k in January.
backintexas2013
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Nothing as long as they aren't taking government benefits. They can burn through their savings. You asked I answered. Never said anything was wrong with it. We should end unemployment payments.
nortex97
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Trump is rarely credited with his economic stewardship but it seems to be producing positive results, though the Biden(*) bar was of course set incredibly low.
TRM
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What good is losing 34k govt jobs when you added 137k jobs heavily subsidized by the govt?
Ag87H2O
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infinity ag said:

How is it that almost every jobs report is great, but people on Linkedin are still looking for jobs and many are about to become homeless?
The only way it is possible is if the Government is fudging numbers...

Or ... maybe the negative voices on Linkedin are just the loudest and don't represent a majority of the job seekers. People exaggerate. People are drama queens. People lie.
TRM
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Here's another issue with why people are looking for work. We've lost 101k full time jobs and only gained part time jobs.
Hoyt Ag
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Quote:

How is it that almost every jobs report is great, but people on Linkedin are still looking for jobs

The job market and the way in which companies hire people is a broken process altogether. I am in the process of interviewing nationally and it is amazing to see how companies interview and the length of time it takes.
Phatbob
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It's a shifting market. Remember, we are pushing to grow the labor force of those who probably aren't exactly on LinkedIn.
Independent George
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There is a whole subset of remote workers holding more than one job as well that has to have an impact here.
Logos Stick
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TRM said:

These aren't accurate.

They've revised last yr's job total from around 590k to 181k, so the tepid job growth was worse than what was thought.

There were 137k jobs created for healthcare in January so that means the other sectors lost 7k in January.



Numerous economists are saying as little as 20k jobs needed per month now to maintain stable employment because of immigration reductions, etc... The U6 rate also went down. LFPR ticked up. It's accurate.
LMCane
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Are you following 330 million LinkedIn accounts?

We also have a 17 TRILLION dollar economy and the world's largest economy-

so no one person's general observations about the second largest country by land mass is going to be accurate.
MouthBQ98
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My guess is that a bunch of people with time and experience in a shrinking industry don't want to reset their careers and lifestyle to go after the jobs that are there and keep chasing unicorn jobs with thousands of unemployed peers doing the same.

They don't want to move or start over closer to the bottom of the hierarchy somewhere, which is understandable but also self limiting.
nortex97
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TRM said:

What good is losing 34k govt jobs when you added 137k jobs heavily subsidized by the govt?

Not sure I am following.

aggie93
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AI and Robotics are part of this, getting rid of government jobs is part of this, and cracking down on illegals is part of this. That doesn't even get into how flawed the jobs numbers are to begin with. Doesn't mean that the job market is good or bad it's just very hard to read.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."

Ronald Reagan
Yesterday
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Quote:

How is it that almost every jobs report is great, but people on Linkedin are still looking for jobs and many are about to become homeless?

Jobs do not equal "tech jobs". It sounds like customer service, manufacturing and financial services(accounting) are the big markets right now. I still agree that Trump needs to completely stop all H1b's for 6 months to find out what foreign labor we really need. That said, it doesn't look like your typical linkdin job seekers are being hired at the moment.
TRM
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You were lauding the cut in government jobs, but the only job growth we are seeing is from government subsidized jobs. We're not cutting the government footprint, it's just shifted.

Logos Stick
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nortex97 said:

TRM said:

What good is losing 34k govt jobs when you added 137k jobs heavily subsidized by the govt?

Not sure I am following.







He's talking about healthcare jobs; medicaid, medicare, obamacare, etc
AggieVictor10
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Going off LinkedIn anecdata may not be the most accurate methodology. There's some selection bias, as one of the main reasons people go there is to look for work.
nortex97
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Ah, ok thx. Private education and health services might be 'government dependent.' I guess that is a valid critique, though not monolithically true.
swc93
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Yes, instead of tax payers paying government employees we now pay private companies. Also doesn't take much of an imagination to understand who owns those private companies either. Just more of the grift.
YouBet
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Logos Stick said:

TRM said:

These aren't accurate.

They've revised last yr's job total from around 590k to 181k, so the tepid job growth was worse than what was thought.

There were 137k jobs created for healthcare in January so that means the other sectors lost 7k in January.



Numerous economists are saying as little as 20k jobs needed per month now to maintain stable employment because of immigration reductions, etc... The U6 rate also went down. LFPR ticked up. It's accurate.


Not discussed enough. There is a new normal that hasn't percolated into gen pops collective understanding yet.

Also, I wonder if early retirement is up comparatively speaking to historical norms. Covid ticked it up. I'm not sure if it ever went down considering the stock market the last five years.
BusterAg
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TRM said:

What good is losing 34k govt jobs when you added 137k jobs heavily subsidized by the govt?

Private contractors are very easy to fire. You just quit funding them.

Fed employees? Not so much.
No Spin Ag
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swc93 said:

Yes, instead of tax payers paying government employees we now pay private companies. Also doesn't take much of an imagination to understand who owns those private companies either. Just more of the grift.


You make it seem like it's all part of the plan. As if people in power are able to make decisions that benefit their friends and supporters, in these industries so they can make their money from the government while not having to give their employees the types of benefits those employees would get if their jobs were still with the government, which just means those employers actually make even more money, ironically thanks to the government.

Come on, man.
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
infinity ag
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Ag87H2O said:

infinity ag said:

How is it that almost every jobs report is great, but people on Linkedin are still looking for jobs and many are about to become homeless?
The only way it is possible is if the Government is fudging numbers...

Or ... maybe the negative voices on Linkedin are just the loudest and don't represent a majority of the job seekers. People exaggerate. People are drama queens. People lie.


Open your eyes please. The job market is terrible for the high paying jobs.

I am not talking about burger flipper, greeter, HVAC jobs only. The high paying jobs are all in terrible shape.
infinity ag
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Ag87H2O said:

infinity ag said:

How is it that almost every jobs report is great, but people on Linkedin are still looking for jobs and many are about to become homeless?
The only way it is possible is if the Government is fudging numbers...

Or ... maybe the negative voices on Linkedin are just the loudest and don't represent a majority of the job seekers. People exaggerate. People are drama queens. People lie.


Or... maybe all good jobs are being shipped abroad..... or maybe the government is LYING to us just like Biden did.
Sims
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infinity ag said:

Ag87H2O said:

infinity ag said:

How is it that almost every jobs report is great, but people on Linkedin are still looking for jobs and many are about to become homeless?
The only way it is possible is if the Government is fudging numbers...

Or ... maybe the negative voices on Linkedin are just the loudest and don't represent a majority of the job seekers. People exaggerate. People are drama queens. People lie.


Or... maybe all good jobs are being shipped abroad..... or maybe the government is LYING to us just like Biden did.

Could you at least admit you are arguing from a biased position? You'll find a lot of concurrence with several of your opinions if you'll just drop the absolutism on others.

How many welders are you connected with on LinkedIn?


ETA: Honest question, not meant as a pejorative or ad hominem. Are you of South Asian descent? Your posting history, particularly as it pertains to the quality of jobs exhibits a very high level of being influenced by thoughts related to a caste system. You discount peoples' value to society because they don't make 300k+. Most don't need 300k to be happy and provide a great life for their family.
Yesterday
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high paying jobs doesn't churn the economy. We need those 50-75k/year jobs to start cranking out positions. Those jobs buy cars, finance homes and go on yearly vacations. The middle class needs to grow!
infinity ag
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backintexas2013 said:

Nothing as long as they aren't taking government benefits. They can burn through their savings. You asked I answered. Never said anything was wrong with it. We should end unemployment payments.


Different discussion. We are not talking about entitlements.

Please don't derail.
 
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