Summary
The U.S. added 256,000 jobs in December, lowering the unemployment rate to 4.1%, outperforming expectations and reflecting a resilient labor market as President Biden leaves office.
Despite earlier inflation overshadowing a strong labor recovery post-COVID, hiring remains steady, layoffs subdued, and job openings rising.
Forecasters predict gradual hiring growth in 2025, with small-business optimism and easing Federal Reserve policies driving gains.
Economic indicators, like increased consumer borrowing for auto purchases, suggest mixed but improving confidence.
And watch Trump and the Republicans dip their hands into the work of Democrats to add more into the debt.
Great jobs report = stock market dives. Apparently.
“Sure, the current bus driver fixed the sugar in our gas tank, replaced our flat tires, and got us on the road again. But I still think we should give the previous driver another chance—he promised to drive us to Greenland!”
What seems to be weird is that “the market” is reacting to this news as if it is bad. From what I gather, it’s because they aren’t going to get the cheap money they were hoping for (meaning, slashing interest rates, again) because the Fed isn’t likely to race to cut them because of jobs?
So now the Dow and S&P are sharply down today…
Pretty much yeah. They want there to simultaneously be a healthy and robust economy (to maximize those sales numbers) while also having a terrible labor market to minimize labor costs. Low unemployment means that employees can be picky about job offers, while rampant unemployment means they’re more likely to accept extreme low-ball offers. Nevermind that those two are directly linked and it’s impossible to achieve both at the same time. Not that the way capitalism is done in the US has ever been sane, logical, or sustainable. Line must go up right?
And Trump is going to manage to ruin it to benefit a few old rich monsters.
Yes and no. There’s going to be thousands of agriculture etc jobs opening up under him. The problem is there won’t be willing or qualified applicants.
Which will at once increase demand for labor. Thus increasing costs for oligarchs. But at the same time throw a monkey wrench into basic supply chains. Causing shortages and crises. He’s literally going to hurt everyone. But we all knew that.
The oligarch are just going to raise prices. The farmer is going to get boned. I expect that to take a bit though, he’s vengeful he’s going to start with blue states and cities first. So life gets worse for Dem areas first then Dems can be blamed for it as the effects spread to Red areas. Not any different from the Covid response.
That will absolutely be their first course of action. The problem with it being. They are near pricing themselves out of the market on many things as is. Quite a lot of inflation has been because of Market control and collusion. Not actual increase in costs. Consumers are struggling currently. Pushing at any harder very likely could cause collapse. Not that many oligarchs won’t. They’re that out of touch.
You mean like what’s been happening?
And all these idiots voted trump “for the economy”
Real wages are declining, so the economy is bad. https://en.m.wikipedia.org/wiki/Personal_income_in_the_United_States#/media/File:Wages_in_the_United_States.webp
So why make it worse? Electing trump to fix wages and the economy. Is like opting for castration to treat ED.
Uahahahaba Good analogy. I agree.
Trump voters elected Trump because Biden and Harris kept lying, and even Schumer keeps trying this lie that the economy is doing great.
It’s not unless you’re too wealthy to care. Trump acknowledged that people are actively suffering worse than any point in the last two decades.
This comment isnt supporting Trump or suggesting he’ll fix things, but if you people sont start understanding why things happen and why Dems lost, you’ll just keep making up things against your fellow workers and lose even worse in 2026 and 2028.
That’s not a lie. By the metrics they use the economy is doing great. They’re using the wrong metrics. The people are not the economy. And not being properly served by it.
Trump voters elected Trump specifically because he lied to them. Just like he did last time. He told them he could fix all these different things and he fixed none of them.
Him acknowledging it isn’t necessarily a good thing unless he’s actually going to do something to fix it. Which he’s not. He will make it worse than the democrats. He did last time. Republicans always do.
Everyone here knows why the Democrats lost. And there were many many reasons. Not just because they did not manipulate voters correctly. Yes they need to address voters concerns better. 100%. But there was also plenty of foreign interference. As well as the fact that we shouldn’t discount that the average American voter is ignorant, apathetic, and often fucking stupid when it comes to politics. But regardless of it all. I can guarantee one thing. In five or six years they will have learned nothing from it. Neither the Democrats nor voters.
And you can say that you don’t support or defend Trump. But you don’t have to bring up Trump to criticize democrats either. Yet you consistently have. You can criticize them on this topic all day long without ever mentioning Trump.
No, you can’t here. You cannot criticize the Dems without being up Trump, else people think you’re supporting Trump. This is a .world community, like post 2009 reddit, binary thinking is the only thing allowed here.
As someone actively applying to jobs:
Bullshit. What “jobs?” Part time roles at Wal Mart???
These reports now include gig jobs so yeah. I’d like to see how many of these are just people picking up a second (or third, or fourth) job to make ends meet
Exactly! Every time they report this bs, I think “how many provide a living wage?” Hope you find something soon
Don’t worry. Good ol’ Trumperina will find a way to say that he did that.
It’s mostly the tech industry who is suffering this year.
We’re less than 2 weeks into the year.
Crap I mean 2024
Don’t worry, donvict aims to fix that, because I keep getting told this is the worst economy ever, eggs cost 20 times what they used to, etc.
I wonder what the Enlightened Centrists ™ and the dumbfucks that voted for donvict will be saying if/when donvict starts making things actually terrible.
As is tradition, they will blame Democrats for the effects of policies chosen by Republicans
Sturdy doesn’t mean it’s stable or affordable. Second record high of homelessness, higher than last years record high by 18%, 33% increase since 2020. Credit default through the roof, auto repossession through the roof, 53% of renters can’t afford rent. He’s handing trump a shitty economy which will likely continue to get worse.
Yeah I mean it’s not like inflation was managed well or anything. It’s worse than it was when he (Biden), got in. No, wait… my mistake
Inflation is you higher now than when Biden was elected, just not for the few factors the government considers inflation for. Housing is more expensive than ever before in US history, and has increased in cost more in the last four years than the proceeding 50.
Biden will go down as one of the worst presidents in world history.
Hahaha amazing thoughts. I disagree and also you’re very wrong. No deep throat here, I think we’ll find.
Well good news, the record homeless and credit defaults don’t care about your deep throating of a racist old white conservative.
I’m pretty sure the next white gammon rhino will definitely address that. Or was he part of the initial cause?
So Trump is so infinitely powerful that he’s definitely the sole cause of the issues under Biden?
Or is your contention that Biden was so inept he did less than nothing to help Americans?
One of those has to be true for your logic to work out, which is it?
