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Thread: Economy added 313,000 jobs in February

  1. #1
    Under Protest excalibur's Avatar
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    Economy added 313,000 jobs in February

    MAGA

    Job creation has averaged 242,000 over the past three months, when counting upward revisions to the past two months' numbers. That average is more than twice the 90,000 to 120,000 jobs a month the Federal Reserve calculates are necessary to keep up with population growth.

    ..

    "We think there is plenty of room for this economy to continue to grow," White House legislative director Marc Short said on CNBC.

    Wage growth was the one disappointing aspect of Friday's report. Average hourly earnings grew at a 2.6 percent annual rate, down from a strong 2.9 percent clip the month before and closer in line with the tepid wage gains of the past few years.

    The lack of wage pressure "shows the economy can expand and heat up a lot more, and give the workers the opportunity to enjoy the expansion," said Robert Frick, corporate economist with Navy Federal Credit Union, who noted that wage growth has been much stronger at the same point in previous recoveries. "It would be a shame for the Fed to get too aggressive in raising rates, and choke off or slow down that expansion before workers get a chance to participate in the economy growth."


    Economy added 313,000 jobs in February, as unemployment held at 4.1 percent

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    Under Protest excalibur's Avatar
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    More from the OP.

    And total employment for people in their prime working years, ages 25 to 54, reached 79.3 percent of the population, the highest such ratio since mid-2008.

    In short, the latest figures conflict with claims that the country is at "full employment." At full employment, it would be expected that job gains would peter out and wage increases would start accelerating quickly. The opposite has been the case.

    There are signs, though, that labor markets are tight in some industries and regions. For instance, Home Depot announced Thursday that it will donate $50 million to train 20,000 construction workers over the next decade, in the hopes of alleviating shortages in that industry.

    Builders created 61,000 new jobs in February and 185,000 jobs in the past four months.

    The retail sector and support services also showed strong employment growth in the month.

    Manufacturing continued on its hot streak, with 31,000 new workers. Over the past year, manufacturing employment has grown by 224,000.

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    Moderator HayJenn's Avatar
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    Great - new jobs!

    Too bad actual wages don't reflect that trend

    But while U.S. employment continued steady growth, the wage recovery many experts anticipated when January's jobs report showed 2.9 percent growth in average hourly earnings over the previous year seemed less secure. That figure grew 2.6 percent in February, and the January wage growth number was adjusted slightly downward to 2.8 percent.


    The dip in hourly earnings growth and the uptick in job creation were well-received on Wall Street. The Dow Jones Industrial Average gained 150 points Friday morning, recovering some of the losses from earlier this week when Trump's top economic adviser, Gary Cohn, announced his departure.

    In January, after the Labor Department reported that wages were up nearly 3 percent after months of stagnation, the Dow fell more than 600 points over worries the Federal Reserve might raise interest rates to keep inflation in check. The Fed is still thought likely to raise interest rates In coming months. Its Federal Open Markets Committee next meets March 20 to March 21.

    https://www.politico.com/story/2018/...ry-2018-448785

    Of course Wall Street was happy. Less money out of their pocket to pay people and keep more it for themselves.
    Thanks from Friday13

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    Veteran Member Moorhuhn Wanted Champion Hollywood's Avatar
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    What was the NET GAIN of jobs?

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    Quote Originally Posted by Hollywood View Post
    What was the NET GAIN of jobs?
    I remember you asking that question under Obama........

    Hehe.

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    Veteran Member Eve1's Avatar
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    The employment situation report as simple propaganda meant to trick the public into believing that the economy is in better shape than it’s in.

    Donald Trump Calls Unemployment Rate One of the "Biggest Hoaxes in Politics"

    Trump has claimed that the “real” unemployment rate is anywhere from 18% to 42%.

    That percentage doesn’t factor in all the people who have given up looking for work. It also doesn’t take into account the number of people who only have part-time jobs and want full-time. And hidden from that number is that fact that many of the people who do have jobs haven’t seen significant wage increases over the past decade.

    See Trump says we shouldn't believe those official reports. What changed?

    Donald Trump: Unemployment Rate One of the Biggest Hoaxes in Politics | Fortune
    Thanks from Friday13 and Panzareta

  7. #7
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    Quote Originally Posted by Hollywood View Post
    What was the NET GAIN of jobs?
    313,000

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    Quote Originally Posted by HayJenn View Post
    Great - new jobs!

    Too bad actual wages don't reflect that trend

    But while U.S. employment continued steady growth, the wage recovery many experts anticipated when January's jobs report showed 2.9 percent growth in average hourly earnings over the previous year seemed less secure. That figure grew 2.6 percent in February, and the January wage growth number was adjusted slightly downward to 2.8 percent.


    The dip in hourly earnings growth and the uptick in job creation were well-received on Wall Street. The Dow Jones Industrial Average gained 150 points Friday morning, recovering some of the losses from earlier this week when Trump's top economic adviser, Gary Cohn, announced his departure.

    In January, after the Labor Department reported that wages were up nearly 3 percent after months of stagnation, the Dow fell more than 600 points over worries the Federal Reserve might raise interest rates to keep inflation in check. The Fed is still thought likely to raise interest rates In coming months. Its Federal Open Markets Committee next meets March 20 to March 21.

    https://www.politico.com/story/2018/...ry-2018-448785

    Of course Wall Street was happy. Less money out of their pocket to pay people and keep more it for themselves.
    How is a gain of 2.6 percent in wages less money in one's pocket?

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    Quote Originally Posted by roberthughey View Post
    How is a gain of 2.6 percent in wages less money in one's pocket?
    She lives in Make Believeland.

  10. #10
    Moderator HayJenn's Avatar
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    Quote Originally Posted by roberthughey View Post
    How is a gain of 2.6 percent in wages less money in one's pocket?
    I guess you don't understand what the words "dip in hourly wages" mean??

    In a nutshell, yep it's great there is a growth in jobs. Too bad most of that growth goes to the top 1%, but not the actual workers.
    Thanks from Hollywood and Friday13

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