Economy Disastrous January job report with a estimated 400,000 jobs lost

SBJJ said:
Anyone who owns a business knows this. Both my businesses have fallen off a cliff since the beginning of the year.

Talk to business owners in your area, they will likely say the same thing.

Restaurants in my area look to have 50% the business they had last year. And people are even tipping alot less.

Rough times ahead I think. And on top of that fuel CONTINUES to move up.

This is such a recipe for disaster. We should all be preparing for an extremely rough few years, financially speaking.
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This is one of the saddest results of Biden and Pelosi’s America. Small business owners, who are such an crucial part of the US economy, are getting crushed.
 
Haven't we had like 4 straight months with 4 million or so leaving the labor market? The wife got rear ended and the ladies insurance is paying. So I took it to 5 body shops today and all 5 said they're 2 months out before they could even get it in. Then you have shop time. The last two shops I asked what was up. Being a painter myself and half owner of a body shop years ago I've never seen this. They both said they can't find help bo matter what the pay is.

I guess I'll finish the new turbo on my ram and do it myself.
The wife is a general manager and can't find people to hire. They've uped the pay and they still have to close early because of lack of employees. These are some weird times. Never seen anything like it.

Maybe people are going back to a parent staying at home and adjusting their lifestyles.
 
steveflynn said:
How would a vaccine mandate, that was blocked in court and is not in effect, have negatively affected January jobs report? Why would you post an article if you don't even trust or believe the content of it?

"“The good news is that the job market should quickly bounce back as the omicron variant fades. Underlying demand in the economy is still strong, and businesses are still trying to hire,” said Gus Faucher, chief U.S. economist at PNC." from the article
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Easy, as a lot of companies are still requiring it. The wife was all set to quit and stay home with our daughter. But her company had too many that said they would quit so they axed it.

We will not get this jab no matter what. We have no bills and no debt. We were saving and getting rid of debt getting ready to buy more homes as we think a crash is coming. But I'll use the funds to support us rather than take something we don't trust in.
Plus I can always shoot a car and make a quick 10k cash from my past customers. So there's that.
 
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White Whale said:
https://www.cnbc.com/2022/02/02/jan...many-as-400000-jobs-lost-by-one-estimate.html

"Opinions of some major Wall Street forecasters and fortified Wednesday by payroll processing firm ADP, employment in January either slowed to a crawl or perhaps turned into a negative."

More bad news for America on top of people not working jobs are being cut and add inflation on top of it a great depression is looking more likely.
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Going to need immigrants to pick up the work for muricans.
 
kenetics said:
Going to need immigrants to pick up the work for muricans.
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Just a small issue. The wife us saying they have soooo many Hispanics that can't even speak English it's crazy. They try and get the kids to help but they know a 1/4s worth of English and it's a mess. You can't even sell them anything but they're supposed to sell stuff to Americans that don't know Spanish? I don't think so. Maybe in construction or something but not in stores and customer service jobs.
 
SBJJ said:
Anyone who owns a business knows this. Both my businesses have fallen off a cliff since the beginning of the year.

Talk to business owners in your area, they will likely say the same thing.

Restaurants in my area look to have 50% the business they had last year. And people are even tipping alot less.

Rough times ahead I think. And on top of that fuel CONTINUES to move up.

This is such a recipe for disaster. We should all be preparing for an extremely rough few years, financially speaking.
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im sorry bud. I’ve been struggling financially too.
 
mommas homeboy said:
This is one of the saddest results of Biden and Pelosi’s America. Small business owners, who are such an crucial part of the US economy, are getting crushed.
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That was the goal with all things covid. Crush small business. Where only corporations remain and the Democrats use corporations to remove freedom of speech, do cancel culture on guys like Joe Rogan, and to force injections on citizens or else you lose your job.
 
GoldenWolf87 said:
Biden admin has done good things for the ecmoncy like pausing out the oil/gas right?
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He has been a boon to my oil stocks. Marathon just raised their dividend. I have cashed a ton of Marathon calls the last month. I have owned them since they were 6 bucks a share and they just increased the dividend, I am content just to let it ride until barrel prices drop, plus oil is a great inflation hedge even better than gold.
(1) Jim Bianco biancoresearch.eth on Twitter: "Not at all a "usual policy effort. " Here is 200+yrs of Govt spending to GDP and the deficit/GDP. Never seen it this big in a non-war year. See the CPI chart. What "aligns" with all these monster deficits/spending periods? A big spike in inflation. The precedent is inflation https://t.co/Fmlvpm9IKJ" / Twitter

Great twitter follow BTW.
If some of you all spent less time worried about M&M's and more time study charts, patterns and economics, you would have known when oil was selling at negative a barrel a couple years ago, oil companies were going to do what they always do, which is decrease production to increase barrel prices. They were smart this time because when they were getting killed during Prime COVID all of them trimmed the fat and reduced their break even cost price per barrel.
Spend less time screaming at clouds and more time making money.
 
deadon said:
Just a small issue. The wife us saying they have soooo many Hispanics that can't even speak English it's crazy. They try and get the kids to help but they know a 1/4s worth of English and it's a mess. You can't even sell them anything but they're supposed to sell stuff to Americans that don't know Spanish? I don't think so. Maybe in construction or something but not in stores and customer service jobs.
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There's alot of jobs Mexicans do here in America that don't require them to speak English lol. Obviously not customer service jobs like you said but they are usually working behind the scenes of restaurant..
 
CNBC, Bloomberg, and NYT already predicted this as temporary
 
kenetics said:
Going to need immigrants to pick up the work for muricans.
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Could have just cut to the chase and said fuck the middle class. Outsourcing is outsourcing and cheerleading for cheap labour is just putting money in the pockets of fat cats.
 
kenetics said:
There's alot of jobs Mexicans do here in America that don't require them to speak English lol. Obviously not customer service jobs like you said but they are usually working behind the scenes of restaurant..
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Yeah for sure but the restaurant business has taken a hit. When we go out there's no wait or anything.
 
mommas homeboy said:
This is one of the saddest results of Biden and Pelosi’s America. Small business owners, who are such an crucial part of the US economy, are getting crushed.
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But their counterargument is GDP grew and wealth increased....

Yes, the very rich have done well through the pandemic. But transfer of wealth to the 1% is not a good thing.
 
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