Posted on Jan 5, 2024
US added 216,000 jobs in December, blowing past expectations
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Thank You Dark Brandon! Largest Since the Vietnam War, Since I Joined the Navy! OK Trump lost How Many Jobs did You Lose? Not a Fair Comparison since We did have "COVID" but was Trumps Handling of COVID Beneficial? 3 Years Later to See the "Recovery"? Only Truthful thing Trump Ever Said "The Economy does Better Under Democrats." Only Thing Republicans are Good for are "Handouts" "Welfare" for the Wealthy!
US added 216,000 jobs in December, blowing past expectations
Posted from thehill.com
Jobs
Employment
Economics
Posted 4 mo ago
Responses: 3
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PO1 William "Chip" Nagel good day Brother William, always informational and of the most interesting. Thanks for sharing, have a blessed day!
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SFC John D.
It's a bit dated, but here's the information I gave back to the usual progressive posters back in November. It's easy to drop the unemployment number - just reduce the number of people in the job force!
Thanks Dark Brandon! Your handouts to those that didn't need it has depressed the economy with your great one-two punch - high inflation and paying people to stay home when the economy was starting to reopen.
There are 3 million individuals sitting at home that shouldn't be. The majority of these never entered the workforce because they didn't have to and as Maj Kevin "Mac" McLaughlin pointed out, when the non-work income ran out a large number of people that didn't go back to work started amassing debt to avoid entering the workforce.
According to the St. Louis Fed, there were (numbers are rounded) 259.5 million people in the available workforce in February 2020 before the Pandemic shutdown of which 164.5 million were employed in the labor force with a 63.37% job participation rate. As of October 2023, there were 8 million more in the available workforce (267.6 million) of which 167.7 million were employed in the labor force for a 62.67% job participation rate.
Just before the pandemic shutdown, there were 4.76 million people that didn't have a job, but wanted one. October's numbers show that number to be 5.37 million people, and increase of only 612k individuals. Furthermore, the marginally attached numbers (those not looking for a job, but would take one) and the discouraged numbers (those that gave up looking for a job) were 1.24M/271k before the shutdown and 1.42M/416k last month.
In other words, with a working age population that grew by 8.14 million individuals, only 40.1% of them joined the workforce and more than 4.2 million individuals that didn't. Historical norms show that about 1.2 million of those would be out of the work force anyways so that leaves 3 million individuals that SHOULD be in the workforce.
Back to the job numbers - it is good that those jobs are recovering and that 3.7 million new ones have been created ... but that number is well beneath where it should be. Over 10 million jobs were "recovery" jobs and not "created" jobs which according to BLS, recovery jobs are filled
If those 3 million individuals were back in the workforce where they belong instead of sitting at home, the job participation rate would be at 63.79% instead of hovering at the lowest (excluding the pandemic shutdown) in 50 years.
Thanks Dark Brandon! Your handouts to those that didn't need it has depressed the economy with your great one-two punch - high inflation and paying people to stay home when the economy was starting to reopen.
There are 3 million individuals sitting at home that shouldn't be. The majority of these never entered the workforce because they didn't have to and as Maj Kevin "Mac" McLaughlin pointed out, when the non-work income ran out a large number of people that didn't go back to work started amassing debt to avoid entering the workforce.
According to the St. Louis Fed, there were (numbers are rounded) 259.5 million people in the available workforce in February 2020 before the Pandemic shutdown of which 164.5 million were employed in the labor force with a 63.37% job participation rate. As of October 2023, there were 8 million more in the available workforce (267.6 million) of which 167.7 million were employed in the labor force for a 62.67% job participation rate.
Just before the pandemic shutdown, there were 4.76 million people that didn't have a job, but wanted one. October's numbers show that number to be 5.37 million people, and increase of only 612k individuals. Furthermore, the marginally attached numbers (those not looking for a job, but would take one) and the discouraged numbers (those that gave up looking for a job) were 1.24M/271k before the shutdown and 1.42M/416k last month.
In other words, with a working age population that grew by 8.14 million individuals, only 40.1% of them joined the workforce and more than 4.2 million individuals that didn't. Historical norms show that about 1.2 million of those would be out of the work force anyways so that leaves 3 million individuals that SHOULD be in the workforce.
Back to the job numbers - it is good that those jobs are recovering and that 3.7 million new ones have been created ... but that number is well beneath where it should be. Over 10 million jobs were "recovery" jobs and not "created" jobs which according to BLS, recovery jobs are filled
If those 3 million individuals were back in the workforce where they belong instead of sitting at home, the job participation rate would be at 63.79% instead of hovering at the lowest (excluding the pandemic shutdown) in 50 years.
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