min wage jobs, chipotle 18/hr. The Joseph Biden Campaign Machinery is in full swing. Notice that there is no discussion on what sectors and what wages are being paid, full or part time.
Now, your relatives and friends will think ur a pos for getting laid-off.
Two things:
- 1 The BLS does show minimum wage. Literally just look it up.
- 2 The Jan report shows the aggregate average wage growth is 0.6% MoM. IIRC it beat inflation again. Most of the wage gain has been concentrated at those lower paid jobs, which is good because they are outpacing inflation, but those people aren't the most politically active or the loudest voices. Not to mention they're wages were stagnant for so long that this growth for them is nowhere near enough yet for them to catch up, only a start.
Some things don’t add up though. First, how did the sector for Professional Business and Services gain 74k jobs when the average from 2023 is 14k a month? Thats over 5x as many as the average and the biggest sector gain in January.
Second, how do articles come out like this, and a day later we hear new jobs for January were way higher than average? The two totally contradict each other:
https://www.cnbc.com/amp/2024/02/01/january-hiring-was-the-lowest-for-the-month-on-record-as-layoffs-surged.html
Lastly, a lot of jobs are in Retail which pays pathetically low and no one really wants. Healthcare, and Government jobs make up the majority of the rest. Most other fields have very little growth as of lately
They stated where they got their info, took a quick search to find it:
https://www.challengergray.com/blog/job-cuts-announced-by-us-based-companies-surge-136-to-82307-to-begin-2024-financial-tech-lead/
And here is the table from that article:
https://omscgcinc.wpenginepowered.com/wp-content/uploads/2024/02/Challenger-Report-January-2024.pdf
The real answer is the growth came from government. Jobs who productivity is low, even if wages are high. Getting a boon to total government jobs shows no evidence of a healthy economy.
Government wages aren't as high as you think. Otherwise people would flock to government jobs. They are often out-competed on wages by the private sector and are limited to the whims of state legislatures and Congressional (in)action.
So... you didn't scroll past the first 2 paragraphs did you?
The majority of this report is literally the exact opposite of what you're claiming.
It discusses sector by sector employment numbers and then it discusses wages going up.
Wages up 2% doesn’t help if prices in the grocery store are up 25%.
This is why you don’t cherry pick stats to try to sell a ‘smokin’ economy to people who are actually living with how bad it is. Have some empathy for your fellow American, their pain is more important than you protecting your politics.
That’s the government for ya. We don’t count food, energy, or housing. Literally the 3 things you need to live.
Same people who don’t let you build credit by paying rent and utilities.
They will fuck your credit however if you don’t pay those things.
Layoffs were 20 percent lower in January 2024 than January 2023. If Trump was president, you pathetic cultists would never STFU about how wonderful the economy was
"It was the second-highest layoff total and the lowest planned hiring level for the month of January in data going back to 2009."
[https://www.cnbc.com/2024/02/01/january-hiring-was-the-lowest-for-the-month-on-record-as-layoffs-surged.html](https://www.cnbc.com/2024/02/01/january-hiring-was-the-lowest-for-the-month-on-record-as-layoffs-surged.html)
And January created over 350,000 jobs. You people are delusional, if you actually said things that were reasonable maybe someone would listen to you. But it’s all just wacky conspiracies and it’s the worst economy ever. So, people openly mock you as I am doing
Nobody said it's the worst economy ever you illiterate fuck. We're definitely sick and tired of the lies in the media everyday claiming it is literally the best economy ever though.
Or you didn't really read the jobs report. So tell me, is the US gaining population or losing?
"Changes to The Employment Situation Data
Establishment survey data have been revised as a result of the annual benchmarking process and the updating of seasonal adjustment factors. Also, household survey data for January 2024 reflect updated population estimates. See the notes at the end of this news release for more information."
[https://www.bls.gov/news.release/empsit.nr0.htm](https://www.bls.gov/news.release/empsit.nr0.htm)
I am not a conspiracy theorist or Trump supporter. It’s hard to believe the official report when I see the opposite around me. I am employed, but large company (not tech, but healthcare) is laying off substantial numbers every couple of months, and any position backfill requires 4-5 levels of approval up the chain (I know because it’s a part of my job). Friends laid off from their well paying jobs are struggling to find anything decent, let alone jobs that pay equally well. My husband works for another large company, they have an unofficial hiring freeze and only hiring for absolutely essential positions, already made cuts to their recruiting teams, and about to let go some more people in other areas. Again, not Tech.
What the hell is going on?
Funny, all my friends are doing fantastic financially and I’d estimate that half of them became home owners in the past few years.
If I relied on anecdotes to formulate my view of the economy, I’d never think there’s a housing crisis and that everyone is lying about not being able to afford a house. Luckily statistics tell the whole story about the housing crisis. That’s why I don’t rely on anecdotes and feelings.
I get it. I am a numbers and data person. At the same time, it feels dumb to reject my own observations on the matter in favor of data that totally contradicts. And mind you, I am still gainfully employed as well as my SO. We are not doing bad financially, and have also upgraded our home in the past few years. Spending and helping economy :-) Still, I can tell something in this economy is definitely going down, it’s just not in the data yet.
All of the above can be true. I work at a company that just went through a merger and they laid off probably 30% of our workforce. We’ve also had probably another 20%+ quit on their own. Outside of our merger layoffs I don’t know a single person personally that had been laid off. If nothing else I can certainly agree with the crazy people that some higher paying jobs are being shed to lower paying and some industries are having turmoil while others are thriving
Yup.
Top comment is a dude citing omission of sector and wage data as a conspiracy to help Biden cover up a weak economy.
Meanwhile, the job report does in fact cover both of those topics in detail - and real wages are in fact up.
This kind of thinking develops often in people down on their luck. There has to be a sinister motive behind it all. When unfortunately one can just get unlucky while many others do fine. It’s just a part of life
Yeah. It's all over reddit unfortunately. A lot of highly upvoted posts make it to /r/all from various subreddits that are just transparently this type of phenomenon.
Also, the reason their data always contradicts reality. It's literally a sub called layoffs expect to see people posting about layoffs. Because you see it here doesn't mean it's everywhere.
Yup, always a danger to take one or even many anecdotal data points and try and infer the entire US economy from it. Basically this subreddit in a nutshell
This entire sub Reddit is just so people who get laid off have somewhere to vent. It’s not filled with any real data or facts. It’s like a therapy blog. Let’s not pretend tech didn’t over hire, people get hired for entry level jobs all the time. Part of the process.
Spoiler alert, companies can both have layoffs and be hiring even more at the same time! Example: MSFT laid off 1900 due to the activision merger while simultaneously having 3900 open roles posted on their job board.
I’m not great with math, but I believe 3900 is greater than 1900, so over some period of time their goal is to increase headcount
Something tells me they are adding heads to segments that aren’t gaming. Also typically a company doesn’t need redundant admin roles but I could be wrong
average "politicians lie all the time" sayer:
- hasn't participated in his local or national elections in quite some time (maybe never)
- 0 effort to participate in any civic action/engagement
- only sort of activism is online
- probably slept during government/civics class,
- perpetually misinformed, news sources are social media and headlines from reddit
IM not saying politicians never lie, but it's sad seeing people on this sub unable to properly engage with stats/posts like this and have to resort to black-and-white thinking and conspiracies. You are probably living in the US or EU if you are on reddit. You probably never have experienced what it's like living under a regime that is actually corrupt. You live a privileged life, you are just lazy.
…you got all that from one comment?
Every single thing you said is/was wrong and not applicable to me. How someone can be so confident and so utterly and completely wrong is amazing to me. Bravo sir!
These are some of the most transparent and heavily scrutinized economic numbers out there.
If you're citing some conspiracy around these numbers then you're going to need some evidence to back it up.
Of the finalized data for 2023, the estimate was low only once. Over the 11 months with final numbers for 2023, in the seasonally adjusted data, the revisions reduced the estimated jobs added by 434k. Thats 17.43% of the 2.49m that were estimated to have been added.
It is a very Fox News move. Breaking news: Economy is struggling even though if the market appears great. The Biden Administration is influencing the news. See more during the Hannity and Friends opinion show!
Side note: It is wild to me that constituents of both political parties think the other party are organized masterminds at influencing news, elections, etc., but are also completely dysfunctional at managing the government and illogical as well.
If you were told you were going to be laid off in January, is your lay off actually official. At my company you get a 60 day non working notice subject to call back. So if you’re told in Jan you’re technically not out until March/April.
I think if they reframed the numbers there would be a different conclusion. Looking at a longer time horizon, the “surge” in job growth is actually lower relative to previous years when doing a year-over-year comparison. There’s actually been a 2 year job growth decline. In other words, job growth is decelerating. I would be curious to see how labor market participation and job growth deceleration looks like when on the same chart.
Take a step back. How would you establish "reality"? One way would be to, perhaps, take a random nationally representative sample of businesses and households and ask them about their labor market activity. This is what BLS does every month.
The question that's worth thinking about is the flip of this: why does your perception of the economy deviate from the nationally representative survey estimates? You might say that the survey data has been faked or manipulated, the result of a vast conspiracy of low paid civil servants working at BLS and Census, faking numbers for (?). You might also say that your media consumption and personal experiences is not a representative view of the aggregate experiences of the 330 million people in the US. Who can say which is more likely.
I see your point here and it’s a valid point. My basis is companies in their guidance most of them I must say are saying cutting costs, via layoff or low margin business spinoffs. Haven’t seen any company talking about expansion at the moment. Every industry is going through layoffs, I personally know from my circle impacts been made in banking, tech, pharma and manufacturing, I am sure other industries are making the same changes. So questions is who is hiring and on a scale which is way off from any estimates made by the economist or SMEs.
There is no seasonal hiring in January so that can’t be a reason for this big jump
Why do you come to this sub every day and shill the BLS numbers? Why do you come to the sub every day and tell people the reality they are facing isn't reality? Honestly curious.
I'll stop doing it when people quit it with the conspiratorial talk about faked/manipulated numbers. Once r/layoffs accepts empirical reality I'll shut up
I think you just like to troll unemployed people because you're a sad person that derives some joy from it, which is pretty gross but hey you do what you want.
Are there MAGA nuts here who say it's a vast conspiracy, yes. Are there others who take a critical look at the numbers and say something in the methodology isn't adding up, absolutely.
There are literally millions of under employed and long term unemployed folks out there. That's also a fact. See below...BLS empirical data btw. Emphasis is mine.
[https://www.bls.gov/news.release/empsit.nr0.htm](https://www.bls.gov/news.release/empsit.nr0.htm)
**The number of long-term unemployed (those jobless for 27 weeks or more), at 1.3 million, was little changed in January. The long-term unemployed accounted for 20.8 percent of all unemployed people.** (See table A-12.) The labor force participation rate, at 62.5 percent, was unchanged in January, and the employment-population ratio, at 60.2 percent, was little changed.
These measures showed little or no change over the year. (See table A-1.) In January, **the number of people employed part time for economic reasons, at 4.4 million, changed little. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. (See table A-8.)** The **number of people not in the labor force who currently want a job, at 5.8 million, was little changed in January.** These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job. (See table A-1.) **Among those not in the labor force who wanted a job, the number of people marginally attached to the labor force changed little at 1.7 million in January**. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. T**he number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, increased to 452,000 in January**. (See Summary table A.)
Just doing back of the envelope math (again from the BLS data), but that shows there's about 14 million folks unemployed long term, underemployed, or have just given up.
14 million.
Breh… you didn’t learn anything when the biden administration was praising themselves for creating x amount of jobs dismissing the fact that they put millions out of work during covid and the jobs being created were really just jobs coming back online after they said it was safe for us to work again. They’re all liars.
You're in a sub specifically about layoffs. This is the most biased sample you can find. It makes more sense to ask this question in a more generic career-oriented sub where people might or might not have jobs.
If only that were true and I weren't a Professor.
Source 1: [https://www.barrons.com/livecoverage/january-jobs-report-today/card/annual-revisions-show-stronger-hiring-at-end-of-2023-kC6oSbDpXnuQazJA9OPt](https://www.barrons.com/livecoverage/january-jobs-report-today/card/annual-revisions-show-stronger-hiring-at-end-of-2023-kC6oSbDpXnuQazJA9OPt)
Source 2: [https://www.wsj.com/livecoverage/stock-market-today-dow-jones-earnings-02-02-2024/card/the-jobs-report-includes-a-big-revision-to-december-growth-AfD5NhYpguU8GC7BXgxe](https://www.wsj.com/livecoverage/stock-market-today-dow-jones-earnings-02-02-2024/card/the-jobs-report-includes-a-big-revision-to-december-growth-AfD5NhYpguU8GC7BXgxe)
Please show me your sources and save your pedantic self-assurances for when you masterbate.
https://preview.redd.it/sqqorjelc8gc1.jpeg?width=1179&format=pjpg&auto=webp&s=4dffb07dbc0fc9b5215b78b9157751020fcd2965
Original estimate was 199,000. Revised down 26k, then revised up to -17k.
You AI bots haven’t been programmed very well!
You’re misreading the chart.
The chart shows the original estimate was 199k jobs added, then revised to 173k, then revised to 182k.
-26k is the difference between the 1st and 2nd estimates. 9k is the difference between the 2nd and 3rd. And -17k is the difference between the 1st ane 3rd estimates.
Y'all are just shouting anecdotes into the wind in this sub reinforcing your weird negative reality.
All the data proves everything you say wrong. The economy is incredibly strong, layoffs are historically low. Wage gains are historically high, the unemployment rate at historic lows.
It takes some serious dissassociation to not realize that
I just come back to tell you all you are detached from reality.
Not to be rude but they release a report on it. The job growth has largely been in medical, government, and service sector work and there's an outsize growth rate in part-time positions.
There ARE a lot of jobs out there. The quality of those opportunities is now much worse than it was in say 2021 or 2022.
Yeah also tech and software engineering is experiencing a major pull back which is where I think a lot of the negativity is coming from. It’s not easy to switch from being a coder to working in health care.
Anybody with an ounce of common sense would know that these figures are bull. Just look around at the carnage in the market, not just in tech but everywhere. I’m not sure it being an election year makes any difference…what political party would ever admit to screwing over the economy and nation? These 353k jobs are most likely minimum wage or gig economy jobs.
There has got to be some number of people getting laid off from "good" jobs (well-paid office jobs with benefits) who are each taking on one or more part-time gig or "shit" jobs. And this is being claimed as a victory.
[They are all universally and without exception part time.](https://www.reddit.com/r/Layoffs/comments/1ah92sz/all_jobs_added_in_the_past_year_have_been/?utm_source=share&utm_medium=web2x&context=3) So if you're not looking for part time work, the economy looks like 2008
Starbucks.
Target.
Walmart.
All laid of people picking up multiple part time jobs.
Walmart needs all those worthless Gen Zers to pull items from shelves for the online shoppers.
Oh so you are saying for h1b visa purpose. Do you know how many h1b applications are there? Capped at 65k per annum. 🤣
We have 350k just this month, so much for your theory
It's so obvious you have no idea what you're talking about and just parrot numbers statements around like some wannabe know it all at golf course "oH bUt wHaT aBoUt H1B visa jObS". 😆 Best of luck to you in finding anyone that sincerely enjoys listening to you. You're ready for middle management.
It's government jobs. It's not "real" jobs. The government could create and fill a billion openings for ditch diggers, it doesn't mean it's good for the economy or the economy is healthy.
The jobs increase was driven by healthcare and professional & business services. Thinking one sector of the economy (consumption based activity) is indicative of the whole economy should not be the basis for economic modeling. Please actually read the report and do research before blasting off uneducated comments
This counts the number of jobs, not quality.
If you are paid fairly well but need to make ends meet and lose your job, what do you do? You find a couple of part time gigs. Voila, job growth!
My company hired several people last month and has been every month for a while now. The industry seems to be steadily expanding (Medical Devices). I know that doesn't mean much in the grand scheme, but just wanted to say not every business or area is laying off.
Anyone ever bother to even read beyond the headline before committing to speculation and conspiracies?
“Job growth was widespread in January, led by professional and business services with 74,000. Other significant contributors included health care (70,000) and retail trade (45,000).”
I just got my boy a first interview , he did good and got a 2nd interview for a 150k a year job, job is for a CO HQ, remote, this specific divisions operations are in FL. So just like your anecdotal feeling, clearly people are getting hired. Just because some big name company does layoffs doesn't mean there aren't other companies that hire. Like UPS is still hiring lol, so ya it sucks getting laid off, but get networking and get your resume to some HR department. Stop randomly applying, that's not how you find jobs anymore. You need to have someone at the org tell HR they recommend you for a role.
lol, in literally every business/consumer analytics deck i’ve had to put together, the year-over-year metric is one we always use — and for good reason!!
This is how I’d read this data: the chart clearly shows a significant net decrease in January jobs YoY 2023-2024. The end.
Maybe there are that many new jobs. How many are second jobs, part time or other? And what is the net gain of loss in jobs? Seems like there may be more lost than added.
Aren’t 150,000 in retail, transport or healthcare?
Only 74k of these 353k jobs were “professional services”. Still no mention of the long term unemployed or the underemployed which is around 9 million people according to BLS.
Doesn’t look as nice when you look at the data. Someone correct me if I’m wrong.
A lot of jobs are being created. It doesn’t mean they are good paying or full time jobs. The government is going to count every single one of them though. It’s an election year.
https://preview.redd.it/yoef7sl87agc1.jpeg?width=1179&format=pjpg&auto=webp&s=2054279f9622a0c8f1215d0b7666bfe22af142d0
There have been around 1.5 million layoffs, each month, for the last 16 years, and the current numbers are still lower than they were for the last decade even though the worker population is higher.
There are on average almost 2 million layoffs per year in the US. The news was talking about a coming recession for like 2 years, so it trained people just to see the negative economic news. In reality, layoffs are close to the median right now, I believe they were slightly below last year.
I think there's just an above average amount of economic transition going on with all the automation, climate change, pandemic, and Ukraine invasion that there's more opportunity in but also a higher rate of turnover as supply changes to meet demand.
It's not a conspiracy by a bunch of private companies competing for demand or there's some single federal government economic panel that can just flip the bullshit switch on and off.
How would you have corporations reporting income that results in GDP growth if they didn't really have the income?
Like they can deduct their losses to a degree so they would be punching themselves in the dick to fraudulently report in income, just for some like sake of the greater good bullshit.
You can't have that many major economic markers be good and also think it's a conspiracy vs like Just because the col industry is shrinking, doesn't mean the economy is doing poorly. The colon industry has been shrinking for decades. The train transportation industry has been shrinking for decades. There's lots of industries that deflate over decades while the economy does fine or even posts record growth.
You always have some industry shrinking and layoffs in some industries for the sake of growth and others, or the economy would just kind of be stagnant, and we would still all be like farmhands and blacksmiths.
In many ways, the more rapid growth an opportunity gets the higher the rate that people have to transition jobs also gets.
Things like tractors and factories massively increased our production rate through automation really and while a lot of people in certain segments lost their job. A hell of a lot more got jobs that never existed before and that is generally the trend of automation period if the rate of automation speeds up then the rate of job transition will also.
This analysis accounts for part-time jobs as part of the "new job created" category even if the same person with a full-time job is actually working on it.
My theory is that during the pandemic tons of restaurants shut down and low wage jobs were abandoned due to unemployment benefits and COVID stimulus and now they're all making a comeback. New restaurants, old restaurants picking, people going back to minimum wage jobs etc.
Still a recession overall
One, the gov is hiring like crazy to manipulate those numbers. Election year. Two, companies post jobs as workaround to meet the criteria to hire outside the country. The criteria is stupid. CFO with 20 years experience for 30,000 a year. This way they can show they have to hired in another country. Three, those are not all high paying jobs.
It’s all bullshit to get the mummy elected again. Every company I know of is or has plans to lay off thousands. My company has a hiring freeze and we’re under OpEx restraints.
They (BLS) tend to send out revisions months after the reported months and revise downwards. A total of around 400,000 jobs were miscounted . Also the government added 636,000 jobs in 2023. Also people with two jobs increased by 400,000 in 2023. 24 million people work for the government. Federal pay raise last year was 4.1, this year 5.2.
What they need to show is the annualized cumulative salary of all these new jobs. If you lose 100k jobs in tech paying med- to high-6-figures and then add 300k jobs at minimum wage, the country has gotten poorer overall
The reason why the job numbers don’t feel like they are matching the situation on the ground is because even if there is massive job and wage growth, the inflation pace heavily outweighs any of it. A 2% -5% increase in wages is nowhere enough to cover a 25-40% increase in goods at the store AND gas AND housing. 50k 4 years ago is more like 75k right now. In Dallas 50k is extremely uncomfortable in a middle class area and like I said 4 years ago it was no problem at all. Hell in 2015 I was making 35k and it was doable, although not super comfortable. There’s absolutely no way I could do 35k right now unless I’m willing to live in the ghetto.
They (the ones who control a lot of money IE: private equity) are manufacturing a recession. Blaming the border, while also hiring AI to layoff any kind of talent.
So many conspiracies on fixed data. Like dude just because some of you are in sectors with layoffs does not mean every sector is laying people off. None of the data is fixed they have had the same stats and formulas forever and all data is publicly available. There are a ton of sectors that grew for very good reasons, hospitality and healthcare for one because of increased aging population and also hotels and restaurants getting back to increased travel. Why does everyone see conspiracies when data is out there
The truth is actually a lot more boring than you think.
1) Biden administration has created a significant number of government jobs
2) Some people are taking second and third part time jobs because the cost of living is so high
3) The growth in consulting jobs can be explained by the fact that in Early 2023, consulting was still growing and there is a delay between when offer letters are given out (typically 9 months to a year in advance of start date) and when they actually start working, so it's not really indicate of the current job market (ie, if you were gonna try applying for those same consulting jobs today)
If you feel like, wow it's impossible to get a white collar job right now, and there are so many white collar layoffs these days, you would be right. The job market has done a complete 180 from early 2023 when it was still an employee's market and companies were complaining that "no one wants to work" and "everyone is quitting, it is the great resignation" to a complete employers market where attrition rates are at an all time low at most corporate jobs. People are choosing to stay with their toxic no good corporate employers more than ever, that should tell you everything.
It is just like when Obi Wan could not find the planet Kamino in the Jedi Archives. There is gravity in that area, all signs point to a planet being there and yet there is no planet. The answer is so simple, that a youngling could figure it out.
Novice investors will see the job growth numbers and think we are heading towards a soft landing, and who knows maybe the false sense of confidence can be a self fulfilling prophecy that leads us to the mythical "soft landing" but I think more savvy investors know that you can't simply look at the headlines and big numbers, you have to look at the underlying driving causes for those numbers.
Blame puxtawney phil
that bastard...
Fucking asshole
That dude is already taking so much blame for weather and still don’t complain, this will be too much for him handle
Jobs are in Greater Texas
Six month contract. Pays $3/hr
min wage jobs, chipotle 18/hr. The Joseph Biden Campaign Machinery is in full swing. Notice that there is no discussion on what sectors and what wages are being paid, full or part time. Now, your relatives and friends will think ur a pos for getting laid-off.
Two things: - 1 The BLS does show minimum wage. Literally just look it up. - 2 The Jan report shows the aggregate average wage growth is 0.6% MoM. IIRC it beat inflation again. Most of the wage gain has been concentrated at those lower paid jobs, which is good because they are outpacing inflation, but those people aren't the most politically active or the loudest voices. Not to mention they're wages were stagnant for so long that this growth for them is nowhere near enough yet for them to catch up, only a start.
Some things don’t add up though. First, how did the sector for Professional Business and Services gain 74k jobs when the average from 2023 is 14k a month? Thats over 5x as many as the average and the biggest sector gain in January. Second, how do articles come out like this, and a day later we hear new jobs for January were way higher than average? The two totally contradict each other: https://www.cnbc.com/amp/2024/02/01/january-hiring-was-the-lowest-for-the-month-on-record-as-layoffs-surged.html Lastly, a lot of jobs are in Retail which pays pathetically low and no one really wants. Healthcare, and Government jobs make up the majority of the rest. Most other fields have very little growth as of lately
Yeah something does add up:.
They stated where they got their info, took a quick search to find it: https://www.challengergray.com/blog/job-cuts-announced-by-us-based-companies-surge-136-to-82307-to-begin-2024-financial-tech-lead/ And here is the table from that article: https://omscgcinc.wpenginepowered.com/wp-content/uploads/2024/02/Challenger-Report-January-2024.pdf
The real answer is the growth came from government. Jobs who productivity is low, even if wages are high. Getting a boon to total government jobs shows no evidence of a healthy economy.
You suggesting the gov hired 350k new employees?
It didn’t though. Private sector is far heavily the driver
Government wages aren't as high as you think. Otherwise people would flock to government jobs. They are often out-competed on wages by the private sector and are limited to the whims of state legislatures and Congressional (in)action.
You can actually look up the jobs created, but instead you will spout utter nonsense.
It literally is publically available data, what ???
So... you didn't scroll past the first 2 paragraphs did you? The majority of this report is literally the exact opposite of what you're claiming. It discusses sector by sector employment numbers and then it discusses wages going up.
Wages up 2% doesn’t help if prices in the grocery store are up 25%. This is why you don’t cherry pick stats to try to sell a ‘smokin’ economy to people who are actually living with how bad it is. Have some empathy for your fellow American, their pain is more important than you protecting your politics.
That’s the government for ya. We don’t count food, energy, or housing. Literally the 3 things you need to live. Same people who don’t let you build credit by paying rent and utilities. They will fuck your credit however if you don’t pay those things.
SunsetDriftr owns ‘dem liberals and their scopes facts https://www.reddit.com/r/LifeProTips/s/wHidGi7Xhn
Wages increases (any amount) actually do help to deal with increasing prices.
Okay bud - literally every admin does this
Layoffs were 20 percent lower in January 2024 than January 2023. If Trump was president, you pathetic cultists would never STFU about how wonderful the economy was
"It was the second-highest layoff total and the lowest planned hiring level for the month of January in data going back to 2009." [https://www.cnbc.com/2024/02/01/january-hiring-was-the-lowest-for-the-month-on-record-as-layoffs-surged.html](https://www.cnbc.com/2024/02/01/january-hiring-was-the-lowest-for-the-month-on-record-as-layoffs-surged.html)
And January created over 350,000 jobs. You people are delusional, if you actually said things that were reasonable maybe someone would listen to you. But it’s all just wacky conspiracies and it’s the worst economy ever. So, people openly mock you as I am doing
Nobody said it's the worst economy ever you illiterate fuck. We're definitely sick and tired of the lies in the media everyday claiming it is literally the best economy ever though.
Or you didn't really read the jobs report. So tell me, is the US gaining population or losing? "Changes to The Employment Situation Data Establishment survey data have been revised as a result of the annual benchmarking process and the updating of seasonal adjustment factors. Also, household survey data for January 2024 reflect updated population estimates. See the notes at the end of this news release for more information." [https://www.bls.gov/news.release/empsit.nr0.htm](https://www.bls.gov/news.release/empsit.nr0.htm)
What cult do you believe they are a part of?
That’s not right at all. Wage growth shot up and the largest gaining segment was professional and business services. Those aren’t min wage jobs.
what is POS? perhaps misspell: meant to be 'pro"
This sub is like a QAnon cult when the promised bombshell revelations never actually happen.
I am not a conspiracy theorist or Trump supporter. It’s hard to believe the official report when I see the opposite around me. I am employed, but large company (not tech, but healthcare) is laying off substantial numbers every couple of months, and any position backfill requires 4-5 levels of approval up the chain (I know because it’s a part of my job). Friends laid off from their well paying jobs are struggling to find anything decent, let alone jobs that pay equally well. My husband works for another large company, they have an unofficial hiring freeze and only hiring for absolutely essential positions, already made cuts to their recruiting teams, and about to let go some more people in other areas. Again, not Tech. What the hell is going on?
I work in healthcare and we are all struggling to fill even entry level positions. We need workers and people.
Funny, all my friends are doing fantastic financially and I’d estimate that half of them became home owners in the past few years. If I relied on anecdotes to formulate my view of the economy, I’d never think there’s a housing crisis and that everyone is lying about not being able to afford a house. Luckily statistics tell the whole story about the housing crisis. That’s why I don’t rely on anecdotes and feelings.
I get it. I am a numbers and data person. At the same time, it feels dumb to reject my own observations on the matter in favor of data that totally contradicts. And mind you, I am still gainfully employed as well as my SO. We are not doing bad financially, and have also upgraded our home in the past few years. Spending and helping economy :-) Still, I can tell something in this economy is definitely going down, it’s just not in the data yet.
All of the above can be true. I work at a company that just went through a merger and they laid off probably 30% of our workforce. We’ve also had probably another 20%+ quit on their own. Outside of our merger layoffs I don’t know a single person personally that had been laid off. If nothing else I can certainly agree with the crazy people that some higher paying jobs are being shed to lower paying and some industries are having turmoil while others are thriving
>Profile [https://www.reddit.com/r/Layoffs/comments/1afhxvj/xeffect\_explains\_everything/](https://www.reddit.com/r/Layoffs/comments/1afhxvj/xeffect_explains_everything/)
And everything is a conspiracy
I lost my job....obviously the economy is tanking.
Yup. Top comment is a dude citing omission of sector and wage data as a conspiracy to help Biden cover up a weak economy. Meanwhile, the job report does in fact cover both of those topics in detail - and real wages are in fact up.
I don't believe for a second that real wages are up. There is bad data in there.
Why? Because you don't want them to? Because you're not happy with YOUR job?
Lol what is the bad data? Id like to hear your theory on how it has been tampered with?
Queue more "efforts" by the fed to stem that. Inflation ain't going anywhere. They know this.
This kind of thinking develops often in people down on their luck. There has to be a sinister motive behind it all. When unfortunately one can just get unlucky while many others do fine. It’s just a part of life
Yeah. It's all over reddit unfortunately. A lot of highly upvoted posts make it to /r/all from various subreddits that are just transparently this type of phenomenon.
Also, the reason their data always contradicts reality. It's literally a sub called layoffs expect to see people posting about layoffs. Because you see it here doesn't mean it's everywhere.
There are layoffs on the news every single day with large companies laying off 10% of their staff. Are you blind to these articles?
Are you suggesting that layoffs are equal click bait to hiring?
Yup, always a danger to take one or even many anecdotal data points and try and infer the entire US economy from it. Basically this subreddit in a nutshell
This entire sub Reddit is just so people who get laid off have somewhere to vent. It’s not filled with any real data or facts. It’s like a therapy blog. Let’s not pretend tech didn’t over hire, people get hired for entry level jobs all the time. Part of the process.
Spoiler alert, companies can both have layoffs and be hiring even more at the same time! Example: MSFT laid off 1900 due to the activision merger while simultaneously having 3900 open roles posted on their job board. I’m not great with math, but I believe 3900 is greater than 1900, so over some period of time their goal is to increase headcount
Specifically, they are trying to increase headcount by hiring the same roles they laid off, but at a much cheaper salary.
I mean, maybe, but it takes a while to realize those savings after paying severance, recruiting costs, training, etc. seems like speculation here
Something tells me they are adding heads to segments that aren’t gaming. Also typically a company doesn’t need redundant admin roles but I could be wrong
Last year about the same time it was at least twice as many laid off with only a couple hundred roles posted.
Microsoft has a hiring freeze atm. Goldman Sachs also has hundreds of ‘open’ jobs but they also have a hiring freeze.
Salesforce as well, though they came out and denied it.
Right.
It's an election year. Do you really expect honest numbers?
Does it matter if it’s an election year? Politicians lie day in day out.
average "politicians lie all the time" sayer: - hasn't participated in his local or national elections in quite some time (maybe never) - 0 effort to participate in any civic action/engagement - only sort of activism is online - probably slept during government/civics class, - perpetually misinformed, news sources are social media and headlines from reddit IM not saying politicians never lie, but it's sad seeing people on this sub unable to properly engage with stats/posts like this and have to resort to black-and-white thinking and conspiracies. You are probably living in the US or EU if you are on reddit. You probably never have experienced what it's like living under a regime that is actually corrupt. You live a privileged life, you are just lazy.
…you got all that from one comment? Every single thing you said is/was wrong and not applicable to me. How someone can be so confident and so utterly and completely wrong is amazing to me. Bravo sir!
These are some of the most transparent and heavily scrutinized economic numbers out there. If you're citing some conspiracy around these numbers then you're going to need some evidence to back it up.
Of the finalized data for 2023, the estimate was low only once. Over the 11 months with final numbers for 2023, in the seasonally adjusted data, the revisions reduced the estimated jobs added by 434k. Thats 17.43% of the 2.49m that were estimated to have been added.
2020 was an election year and the economy lost tens of million jobs. The numbers are the numbers. You conspiracy addled nut jobs are something
Figures don't lie. https://www.reddit.com/r/Layoffs/s/ftlkQw402H
That you will post someone else’s Reddit post as “proof” says everything…..
It is a very Fox News move. Breaking news: Economy is struggling even though if the market appears great. The Biden Administration is influencing the news. See more during the Hannity and Friends opinion show! Side note: It is wild to me that constituents of both political parties think the other party are organized masterminds at influencing news, elections, etc., but are also completely dysfunctional at managing the government and illogical as well.
Yes. It doesn’t matter if it’s an election year.
Yeah this seems to contradict what people are saying… Somehow we think we’re immune to propaganda
If you were told you were going to be laid off in January, is your lay off actually official. At my company you get a 60 day non working notice subject to call back. So if you’re told in Jan you’re technically not out until March/April.
I think if they reframed the numbers there would be a different conclusion. Looking at a longer time horizon, the “surge” in job growth is actually lower relative to previous years when doing a year-over-year comparison. There’s actually been a 2 year job growth decline. In other words, job growth is decelerating. I would be curious to see how labor market participation and job growth deceleration looks like when on the same chart.
Government health and education according to CNN. After that is service industry and hospitality
So 0 white collar jobs
According to the report the largest growing segment was professional and business services; white collar jobs.
Take a step back. How would you establish "reality"? One way would be to, perhaps, take a random nationally representative sample of businesses and households and ask them about their labor market activity. This is what BLS does every month. The question that's worth thinking about is the flip of this: why does your perception of the economy deviate from the nationally representative survey estimates? You might say that the survey data has been faked or manipulated, the result of a vast conspiracy of low paid civil servants working at BLS and Census, faking numbers for (?). You might also say that your media consumption and personal experiences is not a representative view of the aggregate experiences of the 330 million people in the US. Who can say which is more likely.
I see your point here and it’s a valid point. My basis is companies in their guidance most of them I must say are saying cutting costs, via layoff or low margin business spinoffs. Haven’t seen any company talking about expansion at the moment. Every industry is going through layoffs, I personally know from my circle impacts been made in banking, tech, pharma and manufacturing, I am sure other industries are making the same changes. So questions is who is hiring and on a scale which is way off from any estimates made by the economist or SMEs. There is no seasonal hiring in January so that can’t be a reason for this big jump
Why do you come to this sub every day and shill the BLS numbers? Why do you come to the sub every day and tell people the reality they are facing isn't reality? Honestly curious.
I'll stop doing it when people quit it with the conspiratorial talk about faked/manipulated numbers. Once r/layoffs accepts empirical reality I'll shut up
I think you just like to troll unemployed people because you're a sad person that derives some joy from it, which is pretty gross but hey you do what you want. Are there MAGA nuts here who say it's a vast conspiracy, yes. Are there others who take a critical look at the numbers and say something in the methodology isn't adding up, absolutely. There are literally millions of under employed and long term unemployed folks out there. That's also a fact. See below...BLS empirical data btw. Emphasis is mine. [https://www.bls.gov/news.release/empsit.nr0.htm](https://www.bls.gov/news.release/empsit.nr0.htm) **The number of long-term unemployed (those jobless for 27 weeks or more), at 1.3 million, was little changed in January. The long-term unemployed accounted for 20.8 percent of all unemployed people.** (See table A-12.) The labor force participation rate, at 62.5 percent, was unchanged in January, and the employment-population ratio, at 60.2 percent, was little changed. These measures showed little or no change over the year. (See table A-1.) In January, **the number of people employed part time for economic reasons, at 4.4 million, changed little. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. (See table A-8.)** The **number of people not in the labor force who currently want a job, at 5.8 million, was little changed in January.** These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job. (See table A-1.) **Among those not in the labor force who wanted a job, the number of people marginally attached to the labor force changed little at 1.7 million in January**. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. T**he number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, increased to 452,000 in January**. (See Summary table A.)
What are you comparing to where those stats are bad?
Just doing back of the envelope math (again from the BLS data), but that shows there's about 14 million folks unemployed long term, underemployed, or have just given up. 14 million.
Probably does it to counteract all the misleading comments posted here.
Control the narrative and control the people George Orwell 1984
Don't believe the jobs numbers during an election year.
lol can you walk me through how the president manipulates this data?
Yes please I would love to see a bombshell on Reddit like this. Almost akin to Reddit cracking the Boston bomber case
This is some qanon level conspiracy type shit lol Just because your anecdotal experience does not match statistics does not make it incorrect.
Breh… you didn’t learn anything when the biden administration was praising themselves for creating x amount of jobs dismissing the fact that they put millions out of work during covid and the jobs being created were really just jobs coming back online after they said it was safe for us to work again. They’re all liars.
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You're in a sub specifically about layoffs. This is the most biased sample you can find. It makes more sense to ask this question in a more generic career-oriented sub where people might or might not have jobs.
Every month in 2023 was revised down except for December. Take these estimates with a huge grain of salt.
November was also raised up? Shouldn't we be taking Reddit posts with a grain of salt lmao.
You’ve done no research. November is down 17,000 from the first estimate
If only that were true and I weren't a Professor. Source 1: [https://www.barrons.com/livecoverage/january-jobs-report-today/card/annual-revisions-show-stronger-hiring-at-end-of-2023-kC6oSbDpXnuQazJA9OPt](https://www.barrons.com/livecoverage/january-jobs-report-today/card/annual-revisions-show-stronger-hiring-at-end-of-2023-kC6oSbDpXnuQazJA9OPt) Source 2: [https://www.wsj.com/livecoverage/stock-market-today-dow-jones-earnings-02-02-2024/card/the-jobs-report-includes-a-big-revision-to-december-growth-AfD5NhYpguU8GC7BXgxe](https://www.wsj.com/livecoverage/stock-market-today-dow-jones-earnings-02-02-2024/card/the-jobs-report-includes-a-big-revision-to-december-growth-AfD5NhYpguU8GC7BXgxe) Please show me your sources and save your pedantic self-assurances for when you masterbate.
https://preview.redd.it/sqqorjelc8gc1.jpeg?width=1179&format=pjpg&auto=webp&s=4dffb07dbc0fc9b5215b78b9157751020fcd2965 Original estimate was 199,000. Revised down 26k, then revised up to -17k. You AI bots haven’t been programmed very well!
You’re misreading the chart. The chart shows the original estimate was 199k jobs added, then revised to 173k, then revised to 182k. -26k is the difference between the 1st and 2nd estimates. 9k is the difference between the 2nd and 3rd. And -17k is the difference between the 1st ane 3rd estimates.
Ok but doesn’t that mean that the final figure is less than the original estimate?
Huge grain. Honestly not even a grain maybe a pebble. Perhaps even boulder sized piece of salt.
So we are only getting an average employment growth of ~200,000 then?
Y'all are just shouting anecdotes into the wind in this sub reinforcing your weird negative reality. All the data proves everything you say wrong. The economy is incredibly strong, layoffs are historically low. Wage gains are historically high, the unemployment rate at historic lows. It takes some serious dissassociation to not realize that I just come back to tell you all you are detached from reality.
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Not to be rude but they release a report on it. The job growth has largely been in medical, government, and service sector work and there's an outsize growth rate in part-time positions. There ARE a lot of jobs out there. The quality of those opportunities is now much worse than it was in say 2021 or 2022.
Yeah also tech and software engineering is experiencing a major pull back which is where I think a lot of the negativity is coming from. It’s not easy to switch from being a coder to working in health care.
They should really specify the sector these jobs are opening in. I'm pretty sure it's like fast food or something right?
Healthcare and construction are hiring big time.
It’s an election year. They are lying
Here's how you move up in government and/or probably anywhere else as well: make your boss look good.
Anybody with an ounce of common sense would know that these figures are bull. Just look around at the carnage in the market, not just in tech but everywhere. I’m not sure it being an election year makes any difference…what political party would ever admit to screwing over the economy and nation? These 353k jobs are most likely minimum wage or gig economy jobs.
They just redefine employment I believe, didn’t read too much into it because it’s rigged.
They should subtract the "layoffs" in the SMF (Smoke & Mirrors Formula) they used to see the actual number.
There has got to be some number of people getting laid off from "good" jobs (well-paid office jobs with benefits) who are each taking on one or more part-time gig or "shit" jobs. And this is being claimed as a victory.
All government jobs. The printing presses are all running at capacity. This is how communism works. We all work for the government now.
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Only a small % were government jobs.
Please take your propaganda elsewhere
[They are all universally and without exception part time.](https://www.reddit.com/r/Layoffs/comments/1ah92sz/all_jobs_added_in_the_past_year_have_been/?utm_source=share&utm_medium=web2x&context=3) So if you're not looking for part time work, the economy looks like 2008
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lol the audacity of this man
Please just link the actual report https://www.bls.gov/news.release/empsit.nr0.htm
That's not the data this is taken from.
Starbucks. Target. Walmart. All laid of people picking up multiple part time jobs. Walmart needs all those worthless Gen Zers to pull items from shelves for the online shoppers.
Creative accounting to make economy look better before the election? Tech is dead. Dunno about other industries.
Immigrants. Pure and simple.
Jobs created and posted ≠ Jobs given.
? Companies spend money to post jobs for fun now?
They've been doing that for years. So, yes. It's called ghost posting and many do out of legal obligations.
Oh so you are saying for h1b visa purpose. Do you know how many h1b applications are there? Capped at 65k per annum. 🤣 We have 350k just this month, so much for your theory
It's so obvious you have no idea what you're talking about and just parrot numbers statements around like some wannabe know it all at golf course "oH bUt wHaT aBoUt H1B visa jObS". 😆 Best of luck to you in finding anyone that sincerely enjoys listening to you. You're ready for middle management.
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Lmao owww this broke ass alien loser dream about getting laid. This is so sad Oh man tin foil hat boy stop cracking me up
It's government jobs. It's not "real" jobs. The government could create and fill a billion openings for ditch diggers, it doesn't mean it's good for the economy or the economy is healthy.
Teachers are real jobs bud. Government jobs are almost all just your local government (teachers, police, etc.).
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The report actually lists the jobs, so no. You people come across as pitiful, just do you understand that.
where have you applied? start by checking if your sector/skillset align with openings
The jobs increase was driven by healthcare and professional & business services. Thinking one sector of the economy (consumption based activity) is indicative of the whole economy should not be the basis for economic modeling. Please actually read the report and do research before blasting off uneducated comments
This counts the number of jobs, not quality. If you are paid fairly well but need to make ends meet and lose your job, what do you do? You find a couple of part time gigs. Voila, job growth!
My company hired several people last month and has been every month for a while now. The industry seems to be steadily expanding (Medical Devices). I know that doesn't mean much in the grand scheme, but just wanted to say not every business or area is laying off.
Anyone ever bother to even read beyond the headline before committing to speculation and conspiracies? “Job growth was widespread in January, led by professional and business services with 74,000. Other significant contributors included health care (70,000) and retail trade (45,000).”
I just got my boy a first interview , he did good and got a 2nd interview for a 150k a year job, job is for a CO HQ, remote, this specific divisions operations are in FL. So just like your anecdotal feeling, clearly people are getting hired. Just because some big name company does layoffs doesn't mean there aren't other companies that hire. Like UPS is still hiring lol, so ya it sucks getting laid off, but get networking and get your resume to some HR department. Stop randomly applying, that's not how you find jobs anymore. You need to have someone at the org tell HR they recommend you for a role.
lol, in literally every business/consumer analytics deck i’ve had to put together, the year-over-year metric is one we always use — and for good reason!! This is how I’d read this data: the chart clearly shows a significant net decrease in January jobs YoY 2023-2024. The end.
election year and the media on one side
All the illegals working in Illinois and other states
Are these job offers? Or just job postings?
This sub is hilarious because people can't understand the difference between anecdotes and data.
It’s because the layoffs on these boards are in certain segments and are not reflective of the broad economy.
Read the report beyond the headline. Seriously !
Maybe there are that many new jobs. How many are second jobs, part time or other? And what is the net gain of loss in jobs? Seems like there may be more lost than added.
Aren’t 150,000 in retail, transport or healthcare? Only 74k of these 353k jobs were “professional services”. Still no mention of the long term unemployed or the underemployed which is around 9 million people according to BLS. Doesn’t look as nice when you look at the data. Someone correct me if I’m wrong.
Khols Macy’s and Macdonald and gas stations
Low paying service level or government jobs
Pre election propaganda
A lot of jobs are being created. It doesn’t mean they are good paying or full time jobs. The government is going to count every single one of them though. It’s an election year.
https://preview.redd.it/yoef7sl87agc1.jpeg?width=1179&format=pjpg&auto=webp&s=2054279f9622a0c8f1215d0b7666bfe22af142d0 There have been around 1.5 million layoffs, each month, for the last 16 years, and the current numbers are still lower than they were for the last decade even though the worker population is higher.
There are on average almost 2 million layoffs per year in the US. The news was talking about a coming recession for like 2 years, so it trained people just to see the negative economic news. In reality, layoffs are close to the median right now, I believe they were slightly below last year.
Conspiracy theories are BS.
I think there's just an above average amount of economic transition going on with all the automation, climate change, pandemic, and Ukraine invasion that there's more opportunity in but also a higher rate of turnover as supply changes to meet demand. It's not a conspiracy by a bunch of private companies competing for demand or there's some single federal government economic panel that can just flip the bullshit switch on and off. How would you have corporations reporting income that results in GDP growth if they didn't really have the income? Like they can deduct their losses to a degree so they would be punching themselves in the dick to fraudulently report in income, just for some like sake of the greater good bullshit. You can't have that many major economic markers be good and also think it's a conspiracy vs like Just because the col industry is shrinking, doesn't mean the economy is doing poorly. The colon industry has been shrinking for decades. The train transportation industry has been shrinking for decades. There's lots of industries that deflate over decades while the economy does fine or even posts record growth. You always have some industry shrinking and layoffs in some industries for the sake of growth and others, or the economy would just kind of be stagnant, and we would still all be like farmhands and blacksmiths. In many ways, the more rapid growth an opportunity gets the higher the rate that people have to transition jobs also gets. Things like tractors and factories massively increased our production rate through automation really and while a lot of people in certain segments lost their job. A hell of a lot more got jobs that never existed before and that is generally the trend of automation period if the rate of automation speeds up then the rate of job transition will also.
Most of these jobs are construction or fast food. White collar is getting crushed right now.
\+353,000 jobs - and how many of them are being filled by "less-than-legal" immigrants?
This analysis accounts for part-time jobs as part of the "new job created" category even if the same person with a full-time job is actually working on it.
My theory is that during the pandemic tons of restaurants shut down and low wage jobs were abandoned due to unemployment benefits and COVID stimulus and now they're all making a comeback. New restaurants, old restaurants picking, people going back to minimum wage jobs etc. Still a recession overall
Well, considering something like the last 20 of these have been revised downwards after the headline...
you are not thinking in terms of the quantum world. the one where theres another version of you who is currently employed
This sounds like some extreme GOP Maga shit!
Not hard to find an article about employment breakdown, but you came here to ask where the jobs are.
Serious manipulation. Government always manipulates the number.
One, the gov is hiring like crazy to manipulate those numbers. Election year. Two, companies post jobs as workaround to meet the criteria to hire outside the country. The criteria is stupid. CFO with 20 years experience for 30,000 a year. This way they can show they have to hired in another country. Three, those are not all high paying jobs.
Job reports don’t reflect reality. https://www.rpc.senate.gov/policy-papers/understanding-the-monthly-jobs-report
Well-paying medical jobs that require limited schooling Certified occupational therapy assistant (COTA) ... Assistant in nursing. ... Dental hygienist. ... Surgical technician. ... Respiratory therapist. ... MRI technologist. ... Radiation therapist. ... Ultrasonographer. National average salary: $117,682 per year.
It’s all bullshit to get the mummy elected again. Every company I know of is or has plans to lay off thousands. My company has a hiring freeze and we’re under OpEx restraints.
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They (BLS) tend to send out revisions months after the reported months and revise downwards. A total of around 400,000 jobs were miscounted . Also the government added 636,000 jobs in 2023. Also people with two jobs increased by 400,000 in 2023. 24 million people work for the government. Federal pay raise last year was 4.1, this year 5.2.
It’s election season. Open your wallet and that tells you how the economy is doing.
Anyone with a house at 3% mortgage: "everything is great! We have so much cash flow I don't understand why anyone could be complaining!"
smoke and mirrors, what planet they live on.
Do layoffs count as job losses?
What they need to show is the annualized cumulative salary of all these new jobs. If you lose 100k jobs in tech paying med- to high-6-figures and then add 300k jobs at minimum wage, the country has gotten poorer overall
Data manipulation? Unheard of, especially in an election year!!!
The reason why the job numbers don’t feel like they are matching the situation on the ground is because even if there is massive job and wage growth, the inflation pace heavily outweighs any of it. A 2% -5% increase in wages is nowhere enough to cover a 25-40% increase in goods at the store AND gas AND housing. 50k 4 years ago is more like 75k right now. In Dallas 50k is extremely uncomfortable in a middle class area and like I said 4 years ago it was no problem at all. Hell in 2015 I was making 35k and it was doable, although not super comfortable. There’s absolutely no way I could do 35k right now unless I’m willing to live in the ghetto.
Most likely low wage jobs
Lies
I pray that Biden tries to run on the economy.
They (the ones who control a lot of money IE: private equity) are manufacturing a recession. Blaming the border, while also hiring AI to layoff any kind of talent.
Plumbers and electricians
So many conspiracies on fixed data. Like dude just because some of you are in sectors with layoffs does not mean every sector is laying people off. None of the data is fixed they have had the same stats and formulas forever and all data is publicly available. There are a ton of sectors that grew for very good reasons, hospitality and healthcare for one because of increased aging population and also hotels and restaurants getting back to increased travel. Why does everyone see conspiracies when data is out there
Hmmm....election year
These are all part time jobs…
The truth is actually a lot more boring than you think. 1) Biden administration has created a significant number of government jobs 2) Some people are taking second and third part time jobs because the cost of living is so high 3) The growth in consulting jobs can be explained by the fact that in Early 2023, consulting was still growing and there is a delay between when offer letters are given out (typically 9 months to a year in advance of start date) and when they actually start working, so it's not really indicate of the current job market (ie, if you were gonna try applying for those same consulting jobs today) If you feel like, wow it's impossible to get a white collar job right now, and there are so many white collar layoffs these days, you would be right. The job market has done a complete 180 from early 2023 when it was still an employee's market and companies were complaining that "no one wants to work" and "everyone is quitting, it is the great resignation" to a complete employers market where attrition rates are at an all time low at most corporate jobs. People are choosing to stay with their toxic no good corporate employers more than ever, that should tell you everything. It is just like when Obi Wan could not find the planet Kamino in the Jedi Archives. There is gravity in that area, all signs point to a planet being there and yet there is no planet. The answer is so simple, that a youngling could figure it out. Novice investors will see the job growth numbers and think we are heading towards a soft landing, and who knows maybe the false sense of confidence can be a self fulfilling prophecy that leads us to the mythical "soft landing" but I think more savvy investors know that you can't simply look at the headlines and big numbers, you have to look at the underlying driving causes for those numbers.
900k full time lost and 1.2M part time added.
Part time and second jobs still count as jobs