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Yup, 263,000 more jobs in November

Spamature

President
The Biden jobs juggernaut is unstoppable.

As the carpers whine about the economy.

;-)

There is a possibility that there is even better news coming.


A key measure of consumer prices slowed somewhat in October, another hopeful sign that inflation pressures could be moderating.

The Personal Consumption Expenditures price index, or PCE, rose 6% in October compared to a year earlier, the Commerce Department reported Thursday. That’s down from the upwardly revised 6.3% annual increase reported for September.
 

Dawg

President
Supporting Member
Talking heads have been claiming we must reduce employment to lower inflation. Well, that’s not the case so far.

Should the Biden carpers give him some credit for continuing jobs growth, the reduced rate of inflation, soaring markets, etc.?
It's that time of the year, the Holidays and since when hasn't job growth been up during Holidays, so service industry/health care (is it nursing homes) and const is these jobs and feds ain't happy

U.S. adds 263,000 jobs in November, complicating the fight against inflation (msn.com)

When the feds ain't happy no one is happy
Wages up 5.1% and inflation is what almost 9%............BAM

Joe didn't hire anyone..........which foreign country will he give the new income taxes too?
 
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protectionist

Governor
The Biden jobs juggernaut is unstoppable.

As the carpers whine about the economy.

Look at the sources of this - Joe Biden, CNN,
Talking heads have been claiming we must reduce employment to lower inflation. Well, that’s not the case so far.

Should the Biden carpers give him some credit for continuing jobs growth, the reduced rate of inflation, soaring markets, etc.?
Why should there be ANY inflation ? "reduced rate of inflation" means there still is inflation (prices still going up). Prices should be coming DOWN.
So your rent just went from $600/month to $2000/month, and now you're happy that it "only" went up another $200 ?

It shouldn't be going up AT ALL. Housing rents have inflated all of a sudden at rates that nobody has ever seen anything close to, in our whole lives (70 years)

Rents should be RESTORED BACK to what they were before the insanity took over. There should be ROLLBACKS, followed by strict rent control. I blame Biden for this, and yes, DeSantis, and all the governors, for their inaction, regardless of political party.
 

protectionist

Governor
There is a possibility that there is even better news coming.


A key measure of consumer prices slowed somewhat in October, another hopeful sign that inflation pressures could be moderating.

The Personal Consumption Expenditures price index, or PCE, rose 6% in October compared to a year earlier, the Commerce Department reported Thursday. That’s down from the upwardly revised 6.3% annual increase reported for September.
All this is Biden Talk. Amazing how ANYBODY believes it. Sad.
 

Bugsy McGurk

President
It's that time of the year, the Holidays and since when hasn't job growth been up during Holidays, so service industry/health care (is it nursing homes) and const is these jobs and feds ain't happy

U.S. adds 263,000 jobs in November, complicating the fight against inflation (msn.com)

When the feds ain't happy no one is happy
Wages up 5.1% and inflation is what almost 9%............BAM

Joe didn't hire anyone..........which foreign country will he give the new income taxes too?
This one yaps about hiring during the holidays, as if we don’t have massive jobs growth every month under Biden.

So dishonest. Quite deplorable.

Where’s your props for Biden?
 

Bugsy McGurk

President
Look at the sources of this - Joe Biden, CNN,

Why should there be ANY inflation ? "reduced rate of inflation" means there still is inflation (prices still going up). Prices should be coming DOWN.
So your rent just went from $600/month to $2000/month, and now you're happy that it "only" went up another $200 ?

It shouldn't be going up AT ALL. Housing rents have inflated all of a sudden at rates that nobody has ever seen anything close to, in our whole lives (70 years)

Rents should be RESTORED BACK to what they were before the insanity took over. There should be ROLLBACKS, followed by strict rent control. I blame Biden for this, and yes, DeSantis, and all the governors, for their inaction, regardless of political party.
Strict rent control?

You’re gonna get booted out of your GOP cult.

;-)
 

protectionist

Governor
This one yaps about hiring during the holidays, as if we don’t have massive jobs growth every month under Biden.

So dishonest. Quite deplorable.

Where’s your props for Biden?
We don't have ANY job growth under Biden. People RETURNING to jobs they already have isn't job growth, no matter how much Scammer Joe tries to spin it.

1670180767199.png
 

Raoul_Luke

I feel a bit lightheaded. Maybe you should drive.
A superficial take of today's jobs report would note that both jobs and earnings "blew past expectations, flying in the face of Fed rate hikes", and while that is accurate at the headline level, it couldn't be further from the truth if one actually digs a little deeper in today's jobs numbers.

Recall that back in August, September, and October we showed that a stark divergence had opened between the Household and Establishment surveys that comprise the monthly jobs report, and since March the former has been stagnant while the latter has been rising every single month. In addition to that, full-time jobs were plunging while part-time jobs were surging and the number of multiple-jobholders soared.

Fast forward to today when the inconsistencies not only continue to grow, but have become downright grotesque.

Consider the following: the closely followed Establishment survey came in above expectations at 263K, above the 200K expected - a record 7th consecutive beat vs expectations - and down modestly from last month's upward revised 284K...

What is even more perplexing, is that despite the continued rise in nonfarm payrolls, the Household survey continues to telegraph growing weakness, and as of Nov 30, the gap that opened in March has since grown to a whopping 2.7 million "workers" which may or may not exist anywhere besides the spreadsheet model of some BLS (or is that BLM) political activist. In fact, one look at the chart below confirms all one needs to know about BLS "data integrity."



Showing this another way, there were 158.458 million employed workers in March 2022... and 158.470 million in November 2022 an increase of just 12,000 over 8 months, a period in which the number of payrolls (which as a reminder is the number the market follows) reportedly increased by 2.7 million!


And while none of the above is really new - we have documented the record divergence between payrolls and employment for half a year now - there were two new developments: first, to facilitate its rigging of the data, the BLS has resorted to the oldest trick in the book, boosting the core goal-seek factor, the business "birth death" adjustments, which in October hit a record high 455K, and although it has since dipped to 14K in November, the trend in speculative BLS assumptions about the viability of the US economy (more businesses are created than are shut down only when there is economic solid growth) is clearly visible in the chart below.



Another point: it appears that the BLS is now aggressively estimating the so-called hard data. As Goldman's Jan Hatzius observed, the 49% Establishment survey response rate was much lower than the 70-75% rate typical in November. The chart below shows just how much of an outlier the Nov 2022 payrolls report: it confirms that roughly a third of the report was not based on reality at all but on aggressive excel modeling and estimates.


 

middleview

President
Supporting Member
It's that time of the year, the Holidays and since when hasn't job growth been up during Holidays, so service industry/health care (is it nursing homes) and const is these jobs and feds ain't happy

U.S. adds 263,000 jobs in November, complicating the fight against inflation (msn.com)

When the feds ain't happy no one is happy
Wages up 5.1% and inflation is what almost 9%............BAM

Joe didn't hire anyone..........which foreign country will he give the new income taxes too?
Joe didn't hire people , neither did Donald. Who ever is in the White House takes credit for job numbers or gets blamed for unemployment.
 

Bugsy McGurk

President
A superficial take of today's jobs report would note that both jobs and earnings "blew past expectations, flying in the face of Fed rate hikes", and while that is accurate at the headline level, it couldn't be further from the truth if one actually digs a little deeper in today's jobs numbers.

Recall that back in August, September, and October we showed that a stark divergence had opened between the Household and Establishment surveys that comprise the monthly jobs report, and since March the former has been stagnant while the latter has been rising every single month. In addition to that, full-time jobs were plunging while part-time jobs were surging and the number of multiple-jobholders soared.

Fast forward to today when the inconsistencies not only continue to grow, but have become downright grotesque.

Consider the following: the closely followed Establishment survey came in above expectations at 263K, above the 200K expected - a record 7th consecutive beat vs expectations - and down modestly from last month's upward revised 284K...

What is even more perplexing, is that despite the continued rise in nonfarm payrolls, the Household survey continues to telegraph growing weakness, and as of Nov 30, the gap that opened in March has since grown to a whopping 2.7 million "workers" which may or may not exist anywhere besides the spreadsheet model of some BLS (or is that BLM) political activist. In fact, one look at the chart below confirms all one needs to know about BLS "data integrity."



Showing this another way, there were 158.458 million employed workers in March 2022... and 158.470 million in November 2022 an increase of just 12,000 over 8 months, a period in which the number of payrolls (which as a reminder is the number the market follows) reportedly increased by 2.7 million!


And while none of the above is really new - we have documented the record divergence between payrolls and employment for half a year now - there were two new developments: first, to facilitate its rigging of the data, the BLS has resorted to the oldest trick in the book, boosting the core goal-seek factor, the business "birth death" adjustments, which in October hit a record high 455K, and although it has since dipped to 14K in November, the trend in speculative BLS assumptions about the viability of the US economy (more businesses are created than are shut down only when there is economic solid growth) is clearly visible in the chart below.



Another point: it appears that the BLS is now aggressively estimating the so-called hard data. As Goldman's Jan Hatzius observed, the 49% Establishment survey response rate was much lower than the 70-75% rate typical in November. The chart below shows just how much of an outlier the Nov 2022 payrolls report: it confirms that roughly a third of the report was not based on reality at all but on aggressive excel modeling and estimates.


The pointless post.

(patent pending)
 

Dawg

President
Supporting Member
Joe didn't hire people , neither did Donald. Who ever is in the White House takes credit for job numbers or gets blamed for unemployment.
I didn't mention "Donald"
He owns your homebound mind 24/7
How do 263,000 get hired and unemployment rate not drop?
 

Spamature

President
A superficial take of today's jobs report would note that both jobs and earnings "blew past expectations, flying in the face of Fed rate hikes", and while that is accurate at the headline level, it couldn't be further from the truth if one actually digs a little deeper in today's jobs numbers.

Recall that back in August, September, and October we showed that a stark divergence had opened between the Household and Establishment surveys that comprise the monthly jobs report, and since March the former has been stagnant while the latter has been rising every single month. In addition to that, full-time jobs were plunging while part-time jobs were surging and the number of multiple-jobholders soared.

Fast forward to today when the inconsistencies not only continue to grow, but have become downright grotesque.

Consider the following: the closely followed Establishment survey came in above expectations at 263K, above the 200K expected - a record 7th consecutive beat vs expectations - and down modestly from last month's upward revised 284K...

What is even more perplexing, is that despite the continued rise in nonfarm payrolls, the Household survey continues to telegraph growing weakness, and as of Nov 30, the gap that opened in March has since grown to a whopping 2.7 million "workers" which may or may not exist anywhere besides the spreadsheet model of some BLS (or is that BLM) political activist. In fact, one look at the chart below confirms all one needs to know about BLS "data integrity."



Showing this another way, there were 158.458 million employed workers in March 2022... and 158.470 million in November 2022 an increase of just 12,000 over 8 months, a period in which the number of payrolls (which as a reminder is the number the market follows) reportedly increased by 2.7 million!


And while none of the above is really new - we have documented the record divergence between payrolls and employment for half a year now - there were two new developments: first, to facilitate its rigging of the data, the BLS has resorted to the oldest trick in the book, boosting the core goal-seek factor, the business "birth death" adjustments, which in October hit a record high 455K, and although it has since dipped to 14K in November, the trend in speculative BLS assumptions about the viability of the US economy (more businesses are created than are shut down only when there is economic solid growth) is clearly visible in the chart below.



Another point: it appears that the BLS is now aggressively estimating the so-called hard data. As Goldman's Jan Hatzius observed, the 49% Establishment survey response rate was much lower than the 70-75% rate typical in November. The chart below shows just how much of an outlier the Nov 2022 payrolls report: it confirms that roughly a third of the report was not based on reality at all but on aggressive excel modeling and estimates.


NOw give us another site that puts forth this claim.
Not a site that just copies this obscure charting and claims.

Partly, because it looks like their claim about survey response rate chart differs from the data put out by BLS.

 

Bugsy McGurk

President
You believed right wing BS until you didn't.


Ain’t it the truth.

Same with the stock markets. It goes something like this…

GOP cultists when markets go down: “My 401k is way down! God damn that Biden!”

GOP cultists when markets go up: “My 401k is back up! Thank gawd Biden can’t screw this up!”

;-)
 

Spamature

President
Ain’t it the truth.

Same with the stock markets. It goes something like this…

GOP cultists when markets go down: “My 401k is way down! God damn that Biden!”

GOP cultists when markets go up: “My 401k is back up! Thank gawd Biden can’t screw this up!”

;-)
You can't spell Deporabble
Without the rabble.

Excuse me, I think I have a new word to report to Websters !
 
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