That damn recession!

pintail2222

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Aug 11 (Reuters) -

Initial claims for state unemployment benefits rose 14,000 to a seasonally adjusted 262,000 for the week ended Aug. 6, the Labor Department said on Thursday. Economists polled by Reuters had forecast 263,000 applications for the latest week.

That's still below the 270,000-300,000 range that economists say would signal a material slowdown in the labor market.
262,000 + 248,000 = 510,000 new jobless claims in 2 weeks. Aug has the week ending Aug 13, Aug 20 and Aug 27 yet to report...

The bigger issue is going to be wage growth. It isn't happening. It isn't increasing more than inflation. So it is causing a weak labor market. 2021 was ugly - and that was after opening back up after a world wide pandemic. 2022 has been uglier.

 

The_Duck_Master

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The bigger issue is going to be wage growth. It isn't happening. It isn't increasing more than inflation.
People have not really even begun to feel the effects of 10% inflation and 3% wage growth. Just wait until we have 3 years of 10% inflation with wages lagging. The way things are going we are either going to see a 20-30% reduction in purchasing power or inflation is going to increase even more. Those on fixed incomes are going to be in for a rude awakening.
 

pintail2222

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another half million jobs added with unemployment at a fifty year low.

Private payrolls grew by just 132,000 in August, ADP says in reworked jobs report.​


They were predicting over twice as many - they were predicting 300,000.


Again, it is a lagging indicator.
 

capefearflyfox

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Private payrolls grew by just 132,000 in August, ADP says in reworked jobs report.​


They were predicting over twice as many - they were predicting 300,000.


Again, it is a lagging indicator.
You peed in his cornflakes of optimism. :l
 

API

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Again, it is a lagging indicator.
Folks need to write this down: "The first straw grabbed is too often immature, weak, and quickly breaks".
 

Grif

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Folks need to write this down: "The first straw grabbed is too often immature, weak, and quickly breaks".

Here's something else to write down.....the defenders of Brandon are forking dumber than he is...imagine that for a minute. :yes :l
 

duckman54

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Here's something else to write down.....the defenders of Brandon are forking dumber than he is...imagine that for a minute. :yes :l

They are like a bunch of sheep going through the gate where they see a big sign that says free food. They just fail to notice the smaller sign above it that says slaughterhouse.
 

tjones

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On top of all our restaurants shutting down permanently or just until they get enough staff to work….one of our major hospitals in S Dakota is getting rid of people. IT staff is being reduced, with more cuts coming. These are good paying jobs these people will struggle to make the same $$$$ as they have for years.
 

Fowl Hunter

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You folks are just one big self fulfilling prophecy.

Best of times in my world.

Going dove huntin' this morning.
 
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pintail2222

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