Economy adds 431,000 jobs, Unemployment falls to 3.6%

[Johnny2X2X]

Another blow out jobs report! Unreal success at job creation by the Biden administration, best job market in US history.

https://www.bls.gov/news.release/empsit.nr0.htm

Wages up 5.6% on average for the previous 12 months, so that's a god counterweight to most of the inflation.

January revised up to 504K from 481K. February revised up to 750K from 678K. Incredible numbers!

These numbers have been so consistently incredible for the last 12 months that if they slow to 250,000 a month the media will act like that's bad when those would still be incredible jobs creation numbers.

[SoonerPride]

1. And the press will yawn and scream about inflation

I get that inflation is taking a toll. But the press only focuses on bad news for Biden.

They seemed to have stopped hammering about the stock market always going up once TFG left DC.

[Johnny2X2X]

2. Inflation cannot be mentioned without talking about wage growth

Not a single story should be published about inflation without talking about wage growth too. If something cost $100 last year and $107 this year, but I made $100 last year and $105.60 this year for the same amount of work, I'm not $7 in the hole, I'm $1.40 in the hole. Still not great, but they need to start talking about how wage growth has blunted much of inflation, and the numbers actually show that the lowest income people have seen wage growth in excess of 8%, so those workers on average saw their incomes rise more than inflation over the last 12 months.

[SoonerPride]

3. Great point.

But I can see right wing taking heads start to blame inflation in paying people $15 minimum wage.

[Johnny2X2X]

6. Wage growth is contributing to inflation a little

But that's not a bad thing. We need wage growth to be higher than inflation again as it was for most years under Obama, that means people are getting ahead. Get inflation down to 4 or 5% by the end of Summer and we'll likely be in that situation.

Inflation was incredibly low under Obama for 8 years, most years it was around 1.7% while wage growth would be 2.5-3.0%, the media completely glossed over that under Obama workers were getting ahead slowly but surely with those numbers, which was a reversal from the Bush years.

[Emile]

4. How will Republicans spin this?

Unemployment levels down thanks to Trump building the southern border wall.
Unemployment levels down thanks to ?

[Doc Sportello]

5. Yet another accomplishment to tout

Jobs and wages, the success against Covid, competence in foreign affairs in a time of crisis. We Democrats have a lot of good talking points for the mid-terms, so let's be positive going forward.

[Johnny2X2X]

7. Jobs, GDP growth, and wage growth deserve equal billing to inflation

And they are all related. We have the best jobs numbers in US history leading to the best job market in US history and the biggest wage growth in decades. We also have the highest GDP growth in 40 years.

If Republicans were in charge right now every discussion/article you'd see would have the headline, "Greatest economy in US history!" Even with inflation where it is. BY most measures, this is the best economy in US history, we have the GDP growth of Reagan with jobs creation exceeding the Clinton years. All while wages are increasing at their highest level in decades too.

Yes, inflation is an issue, but it's only part of the picture.

[Doc Sportello]

11. And my non-expert belief is the problems will subside

People have grown used to gas prices fluctuating, and I believe they will be down by November. so it's not as big a deal as some pundits think. Overall inflation, especially at the grocery store, is a problem but much of that is price gouging by corporations. Hurting voters may not buy that fact so Dems have to message that and hopefully Biden's tactics will stem that tide too.

This country has been in such a down state the last few years, and understandably so, that it's hard to turn around in a couple of years. Just hope the swing voters will realize that and won't return s to incompetence and corruption.

[Johnny2X2X]

14. We need inflation to start coming down

The global supply chain is still in flux, but a lo is being done to bring prices down, we need to see a lower number later this month when it's reported and have that continue through the Summer for inflation to not be a headline story in the Fall.

[Lovie777]

8. Corporate media will scream "inflation" and "high gas prices" . . ..

and any other negative unfounded crapola they will come up with.

[Brainstormy]

9. just heard the talking head

on the news say that the economy was back to where it was pre-Covid.

[Johnny2X2X]

10. Yup

I knew we were getting close, the labor force is completely recovered from the Covid recession Trump wrought.

Hope Joe is taking victory laps all day.

[uponit7771]

13. +1, the anti Biden bias in the M$M is going to try to negate that. I truly believe MAGA creates a ..

... a group think that rates and the rest of the supposedly sane M$M repeats it.

There are NO REASONS Biden's numbers should be in the low 40s

After seeing the collapse of anti dem SM after Russia blocked US sites I know the GZP has extra help

[uponit7771]

12. K&R, LFPR is also up ... the lower UE rate is organic

[doc03]

15. I hope it drops to 3.4% since 3.5% was the lowest during the Losers Administration. nt

[Johnny2X2X]

16. I think we're well on the way to that

The number of job openings out there is still near record levels. I could see 3.0% by the Fall.

And this is the time for workers, the time to demand more! You're seeing starting pay for unskilled labor go way way up, that's just amazing to see. In my own part of the country, I can say Amazon is setting the new floor, they're starting at $18 or $19 an hour and other smaller employers are having to approach that to find workers. The working poor finally have a way to earn a dignified living for 40 hours of work. More is needed still, but these gains at the bottom are quite dramatic.

I know several restaurant owners who aren't all too happy with it, but they're having to pay their cooks $16 an hour to be able to stay open, and I think that's just great!

[Johnny2X2X]

17. Shameless bump

This needs to be the story of the day. Huge news!