And how many of these are jobs that pay a decent wage and provide benefits… Most are likely part time and gig jobs. This statistic has become meaningless
It’s not the jobs so much as the wages. They need to grow. Trump figures he can collect more revenue with more jobs by forcing Medicare recipients and others to work at low paying menial jobs. Problem with that scenario is those people will more likely qualify for a bigger tax refund and end up paying nothing at all into the system after all tax credits.
The S&P projected PE ratio needs to reverse direction. Last week they were at 17.03. Week before 16.98. Week before that they were 16.58. If this does not turn around, there will be a market sell off.
I’m looking forward to the number this week. It’s due out after the market closes today. It’s released every Friday.
The market mostly rises and falls on forward earning projections.
Same economy as we had under Obama with one massive difference: the GOP economy is based on record-shattering deficits. It’s a fake economy.
“The figures suggest that February’s meager job growth, which was revised to 33,000 from an initial 20,000, was a temporary blip…”
If this had happened during Obama’s term in office, the AP would be screaming about how it was the worst economic downturn since the Great Depression.
One aspect of the report confuses me.
Apparently, the civilian workforce dropped by 224,000 in March, 45,000 in February and 11,000 in January.
So, who exactly is working? Don’t tell me all those people who are no longer in the workforce are retired. There are way too many older people who need to continue working.
WOW! 196,000 jobs! Most of which are minimum wage. Without health insurance. Without any other benefits. Without overtime protection. And many entailing wage theft, which has been in the news lately and seems to be supported by the Trump administration.
40% of all Americans can’t afford an emergency costing $400. That’s the only economic indicator that counts. https://www.marketwatch.com/story/why-4-in-10-adults-cant-cover-a-400-emergency-expense-2018-05-22
How many people lost jobs?
I am sorry but in previous administrations 196,000 was considered OK but not exciting. Kind of steady as she goes.
My company has watched the average of its workforce increase steadily over the last decade or two. We have one employee over 80 and numerous employees in their late 70s. My company pays well and has a good retirement plan, but not many can afford to give up the health insurance or other benefits.
When I was young the American dream was to retire at or before age 65 and enjoy travel and good times during a long happy retirement in the home you had paid for. Now not so much.
3 month average is around 175k. It’s not bad. That said, there is a sense of slow down or instability that has permeated the thinking of corporations/employers. They’ll invest in priority projects, but in other areas there is a bit of belt tightening. We’ll see how things develop in this 2nd quarter after a very unstable and slower growth Q1.
Are these real numbers or does Trump have his hand on the scale.
No mention (AP of course) that Employers CUT 190,410 jobs in the first 3 months of the year – 10.3% higher than the number of layoffs announced in the fourth quarter of 2018 and 35.6% higher than job cuts announced in the same quarter of 2018. It’s the highest number of job cuts in a quarter since 2015.
Thanks, Obama…