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

kenetics said:
I think people people finally figured out that they weren't safe economically working for companies after the pandemic. They were expendable during layoffs rather quickly. I believe now that they are starting their own side buisness, online sales etc..

The sad thing is that most of these companies are now offering higher wages than before and even handling out bonuses . So they could've paid higher wages before the pandemic but decided not to because they had the power.. now the power has shifted to the worker.

I don't feel bad for those buisnesses, they dug their own graves.
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Businesses also shitting themselves because they can't make their workers return to the office. That cats out of the bag. And you know what, it will probably open new opportunities for those catering to people that work from home.
 
AWilder said:
Businesses also shitting themselves because they can't make their workers return to the office. That cats out of the bag. And you know what, it will probably open new opportunities for those catering to people that work from home.
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Yup.
 
AWilder said:
Businesses also shitting themselves because they can't make their workers return to the office. That cats out of the bag. And you know what, it will probably open new opportunities for those catering to people that work from home.
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I am sure the mandates dont have anything to do with it that had affected some businesses. dont forget in some places you are forced to take either a booster or vax if you dont you would be fired.

I am not sure which govt official thought that the mandates would help with the economy.
 
kenetics said:
I think people people finally figured out that they weren't safe economically working for companies after the pandemic. They were expendable during layoffs rather quickly. I believe now that they are starting their own side buisness, online sales etc..

The sad thing is that most of these companies are now offering higher wages than before and even handling out bonuses . So they could've paid higher wages before the pandemic but decided not to because they had the power.. now the power has shifted to the worker.

I don't feel bad for those buisnesses, they dug their own graves.
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People don't quit to become unemployed. Higher quit rates generally are seen as an indicator of labor-market strength, as it suggests that workers have more leverage (people are leaving jobs for better ones).
 
Jack V Savage said:
People don't quit to become unemployed. Higher quit rates generally are seen as an indicator of labor-market strength, as it suggests that workers have more leverage (people are leaving jobs for better ones).
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Agree. The employers who are understanding what future employees want are going to take the market share of future employees. The old way isn't going to work for most people anymore.
 
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Inside The Most Ridiculous Jobs Report In Recent History | ZeroHedge

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fedoriswar37 said:
My best buds been in the resurant Industry for almost 2 decades. It's dying .
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It feels like it's as expensive to eat in than it used to be to eat out, so no surprise. Just buying decent sized proteins alone at the supermarket seems to run me $10+ for salmon, steaks, chicken etc.
 
Scerpi said:
Housing prices need to crash.

And I heard a report that the US's Debt to Asset ratio is getting as bad as some of the poorest EU nations.
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I personally don't think this is gonna happen. It seems there's an effort from business and government to keep people house poor i.e. have little money left for anything after paying their shelter costs. Work. Go home. Work. Go home. That's it
 
Some might say that unemployment is too low, creating a worker's market.

I say it's a worker's country, so I'll allow it. ;)
 
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steveflynn said:
It's projected that because of the Omnicron variant's flareup, hiring decreased in January by 100,000 to 300,000.
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Lol at this. Not laughing at you directly because you're quoting the article but to think this admin is still trying to use Covid to excuse poor performance. No one looking for a job stopped looking for a job because of Omi-flu.
 
Unemployment is at 3.7% now a year after this “disastrous “ jobs report. Looks like the conservatives wishing for a U.S. financial collapse have to wait a bit longer.
 
Seano said:
Lol at this. Not laughing at you directly because you're quoting the article but to think this admin is still trying to use Covid to excuse poor performance. No one looking for a job stopped looking for a job because of Omi-flu.
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lol at this
You know that post it like 2 years old right.
 
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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Loading…

www.wsj.com

The WSJ headline reads:

Jobs Growth of 353,000 Blasts Past Expectations as Labor Market Stays Hot​


Here are the first two paragraphs of the WSJ article, dated 2/2/2024:
Hiring is booming, defying expectations the economy would cool after going gangbusters last year.

Employers added 353,000 jobs last month, the Labor Department reported Friday. That was the strongest in a year and nearly double what economists surveyed by The Wall Street Journal expected.

So, things have improved in the past 2 years, eh? S&P looks great too!
 
My other half has been looking for a part time job and no where is hiring. Lots of applications out but nothing.
 
James Eagle said:
It was all part time jobs, you know the ones people with full time jobs already took on, because of inflation
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All in all it was a strong labor report and unemployment remains historically low. The report even revised upward previous quarters' reports. Sorry that the demand for negative Biden economic news exceeds the supply. Would love to see your source that **ALL** of the jobs added were part time. You said all.

Even if true, "too many part time jobs" is a far cry of the gloom and doom the conservatives were predicting in this thread a year ago.
 
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