General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBiden Economy adds 263,000 jobs in November, UE at 3.7%
https://www.bls.gov/news.release/empsit.nr0.htm200,000 were expected. Another great jobs report. Wages rose by 0.6% in November, which outpaced inflation.
NoMoreRepugs
(9,260 posts)Johnny2X2X
(18,744 posts)And global inflation is beginning to get under control too. So if we can remain near full employment as inflation gets back to normal, working people are going to see real gains. In other words, everything Dems fight for, and Republicans fight against.
Emile
(21,892 posts)uponit7771
(90,225 posts)Johnny2X2X
(18,744 posts)December is looking like 50 basis points, and maybe none of 25 basis points in January. Then they hold for a while and ease them as prices start to normalize some time in 2023.
Things are set up really well for the future. We might see a pullback in 2023 yet, but 2024 is looking like a boom if that happens.
newdayneeded
(1,939 posts)don't you know that's only because the repubs took over the house!!!1!1
I'm sure coming to a fox News ticker near you.
Emile
(21,892 posts)Seen that tactic before!
mobeau69
(11,075 posts)clutterbox1830
(395 posts)I have been hearing that a recession is coming for almost a year now. At least that talking point will die down a little since the midterms are over. Liberal media bias my ass.
Johnny2X2X
(18,744 posts)Non-farm payrolls: +263,000 vs. +200,000 expected
Unemployment rate: 3.7% vs. 3.7% expected
Average hourly earnings, month-over-month: +0.6% vs. +0.3% expected
Average hourly earnings, year-over-year: +5.1% vs. +4.6% expected
Yo_Mama_Been_Loggin
(107,068 posts)Won't someone think of the poor billionaires?
LetMyPeopleVote
(143,999 posts)progree
(10,864 posts)So this is partly why the labor market remains tight.
I'm wondering how Powell feels about that. A big goal of his from what I've read is that he wants to get the job openings to job seekers ratio down.
Nationally, the labor force participation rate has been dwindling from a high point of about 67.3% in 2000 to 62.1% now. (It was 62.2% in January, so there hasn't been any progress in that all year).
Meanwhile the population of elderly (such as me) needing more and more service (me not yet but soon) grows.
Labor force participation rate: http://data.bls.gov/timeseries/LNS11300000
Labor force in thousands: http://data.bls.gov/timeseries/LNS11000000
(the graph is through November 2022)
The labor force = employed + officially unemployed as per the BLS's monthly Household Survey
The officially unemployed are jobless people who have looked for work in the past 4 weeks (must be more than just looking at job listings), and who say they are available for work. BTW, the officially unemployed is not a count of people claiming unemployment insurance, it has nothing to do with that (a common myth unfortunately).
How the Government Measures Unemployment http://www.bls.gov/cps/cps_htgm.htm
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I've had my bus service cut and cut and cut again, due to a shortage of drivers. On December 3, a big cut reducing service by 8% takes effect. Healthcare workers, elderly care and child care are some other areas suffering the most severe shortages.