I know this sorta dashes a leading GOP candidate’s hopes for a recession/depression pre-election, just can’t bring myself to feel his pain.
Here is the deal.
Good economic news now does not pardon Biden from the first three years of his horrific economic policies.
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A recession is still possible but as of now it seems Powell has stuck the landing. My guess is if we get a downturn itll be Q4.
Glad you’re so pleased. BTW, seldom have 3 years of “horrific economic policies” seldom or never produce results like we are seeing now. Let’s agree to look forward to 4 more years of growth and stability. Cheers!
Massive layoffs are success? Foreclosures rising? Inflation is still up.
I’m not sure what you think is a success. Many of those jobs are low paying service jobs.
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Cant see the OP…but I assume its about the Jobs report this morning. It was interesting watching the CNBC guys analyze the numbers. They were comparing the report with this report:
It certainly gives support to the “higher for longer” interest rate crowd.
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I addressed this topic on another thread earlier today
Layoffs help everybody but the person being laid off. It helps proftability, you generally see a stock bounce when layoffs are announced. It ups the unemployment rate and reduces spending a little which will help inflation. Get used to layoffs too, AI is doing a lot of low end analysis and enables more woth kess employees.
So you are voting for the GOP candidate?
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Maybe so…but no other candidate in the history of our country has openly said that they hoped the economy would collapse before the election.
I had heard that the Fed may lower interest rates because the jobs reports have been pretty constant. At that point I will expect to hear Trump call the Fed “very political”
Are you?
You mean the same jobs that Trump was touting when he was in office?
Wages increased the most for the lower third during the Trump years.
From the link, you obviously failed to read or chose to ignore it. The trend seems to be that the greatest increases are in higher-paying employment.
“The largest jobs increases in Friday’s report were seen in professional and business services, which added 74,000 jobs in February, well above its 2023 monthly average of 14,000 jobs. Meanwhile, healthcare added 70,000 jobs, and retail trade gained 45,000 jobs.”
I would imagine a lot of these are people returning after being forced out during Covid.
That’s horseshit. Very few companies are using AI to replace employees at this time.
I work for one of the leaders in the field and I’ve yet to see it provide much value to any company. It’s a buzzword. We’ve had AI/ML for over 30 years.
Retail is low paying. Most medical jobs are low paying.
Just because you say medical doesn’t mean it’s a high paying job.
So are we supposed to ignore all the layoffs while celebrating the 350K jobs added?
Or are we supposed to deem the latter to be more important?
Layoffs to be more are more of a sign of the economy. That was work being done.
The job market is shifting, AI is showing companies how to get leaner and rendering some jobs obsolete.