tspoke Posted February 3 Share Posted February 3 January Jobs report blows expectations out of the water with 517,000 jobs added after a predicted 180,000. A soft landing looking more likely. Lots of good news in this report. January jobs report: The US economy added a whopper 517,000 jobs last month | CNN Business 1 Quote Link to comment Share on other sites More sharing options...
grandjean87 Posted February 3 Share Posted February 3 On 2/3/2023 at 11:27 AM, tspoke said: January Jobs report blows expectations out of the water with 517,000 jobs added after a predicted 180,000. A soft landing looking more likely. Lots of good news in this report. January jobs report: The US economy added a whopper 517,000 jobs last month | CNN Business I've caught some of the under the hood stuff via business news and a few economists that I follow. The stock market liked things better earlier this morning. The 2-year is up strong, but one month numbers should always be seen as just that. Still some softness. Housing is in a clear (important) sector recession. Manufacturing is close depending on what data is chosen. I'm still in the no (general) recession yet camp, but there are some pockets. I see "Biden Boom" trending on Twitter. Ironically, the strong jobs numbers if they are repeated next month, could have the Fed going higher, longer. That could push a Fed-led recession out in time to affect (negatively for Biden) the '24 general elections. 1 Quote Link to comment Share on other sites More sharing options...
grandjean87 Posted February 3 Share Posted February 3 I found this data point interesting and definitely counter to my sector softness noting in the prior post. 1 Quote Link to comment Share on other sites More sharing options...
Spaztecs Posted February 3 Share Posted February 3 This will be a soft landing for Corporate America. Much of working class America is still suffering from the 2008 Depression. 2 Quote Link to comment Share on other sites More sharing options...
renoskier Posted February 3 Share Posted February 3 the lowest unemployment rate sine 1969... we're going to need to change the labor shortage narrative from "nobody wants to work" to "everybody already has a job"! 2 Quote Link to comment Share on other sites More sharing options...
renoskier Posted February 3 Share Posted February 3 On 2/3/2023 at 10:53 AM, Spaztecs said: This will be a soft landing for Corporate America. Much of working class America is still suffering from the 2008 Depression. you don't get out much do you... most folks are doing well Quote Link to comment Share on other sites More sharing options...
Billings Posted February 3 Share Posted February 3 On 2/3/2023 at 10:55 AM, renoskier said: the lowest unemployment rate sine 1969... we're going to need to change the labor shortage narrative from "nobody wants to work" to "everybody already has a job"! Add in higher participation in the workforce than we have seen for awhile as well. 2 Quote Link to comment Share on other sites More sharing options...
Spaztecs Posted February 3 Share Posted February 3 On 2/3/2023 at 11:57 AM, renoskier said: you don't get out much do you... most folks are doing well In the world of the Elite you live in, you are correct. You ain't seeing the world that has fallen behind inflation and in wages. Loads and loads of people in my world are still suffering. More will with the coming downturn. More and more homeless camps everywhere you bother to look. A society that looks down upon and victimizes those who have been left behind. It's pretty obvious you wear First World blinders so you don't have to see the real world. Quote Link to comment Share on other sites More sharing options...
Billings Posted February 3 Share Posted February 3 On 2/3/2023 at 10:57 AM, renoskier said: you don't get out much do you... most folks are doing well I don't know. Housing and medical costs are tearing a lot of people up and a ton of lower middle class are paycheck to paycheck due to housing 4 Quote Link to comment Share on other sites More sharing options...
grandjean87 Posted February 3 Share Posted February 3 On 2/3/2023 at 11:58 AM, Billings said: Add in higher participation in the workforce than we have seen for awhile as well. One thing I've noticed, and it's not completely new and of course anecdotal, but there seems to be a bit of a shift of attitudes in favor of work among younger prime age workers. The macro data and studies appear mixed, but my gut says there is a lean into the grind value that has seeped into the culture. Well, at least among the 20s, 30s, and 40s folks I know. Labor force participation rates have rebounded, and I think the "prime age" cohort is really key to (possible) sustained trends. 1 Quote Link to comment Share on other sites More sharing options...
renoskier Posted February 3 Share Posted February 3 On 2/3/2023 at 11:37 AM, grandjean87 said: ...The macro data and studies appear mixed, but my gut says there is a lean into the grind value that has seeped into the culture. Well, at least among the 20s, 30s, and 40s folks I know. Labor force participation rates have rebounded, and I think the "prime age" cohort is really key to (possible) sustained trends. what do you mean by this? Quote Link to comment Share on other sites More sharing options...
Billings Posted February 3 Share Posted February 3 On 2/3/2023 at 11:37 AM, grandjean87 said: One thing I've noticed, and it's not completely new and of course anecdotal, but there seems to be a bit of a shift of attitudes in favor of work among younger prime age workers. The macro data and studies appear mixed, but my gut says there is a lean into the grind value that has seeped into the culture. Well, at least among the 20s, 30s, and 40s folks I know. Labor force participation rates have rebounded, and I think the "prime age" cohort is really key to (possible) sustained trends. It is the age group all the old farts bitch about having no work ethic. But then I remember my grandpa bitching about the same thing of my generation. We were a Long haired worthless group that won't work hard anymore. Not long hair anymore just those damn video gamers 2 Quote Link to comment Share on other sites More sharing options...
grandjean87 Posted February 3 Share Posted February 3 On 2/3/2023 at 12:54 PM, renoskier said: what do you mean by this? Talking about the "grind" as a duty and the means to success seems more prevalent now. I see 20/30/40-somethings refer to it as almost heroic. Get up, go to work, and keep on grinding. They also express a lot of animosity in various ways towards those who aren't working. Scamming the system is looked down on in ways that feel different, but again this is anecdotal. My insights comes from primarily from working class folks rather than the profession class. Again, data and studies are mixed on worker attitudes. 2 Quote Link to comment Share on other sites More sharing options...
SDSUfan Posted February 3 Share Posted February 3 On 2/3/2023 at 10:58 AM, Billings said: Add in higher participation in the workforce than we have seen for awhile as well. Directly correlates to the drying up of generous covid unemployment compensation. Maybe one day, the government will allow landlords to collect rent again. Quote Link to comment Share on other sites More sharing options...
SDSUfan Posted February 3 Share Posted February 3 On 2/3/2023 at 10:46 AM, grandjean87 said: I've caught some of the under the hood stuff via business news and a few economists that I follow. The stock market liked things better earlier this morning. The 2-year is up strong, but one month numbers should always be seen as just that. Still some softness. Housing is in a clear (important) sector recession. Manufacturing is close depending on what data is chosen. I'm still in the no (general) recession yet camp, but there are some pockets. I see "Biden Boom" trending on Twitter. Ironically, the strong jobs numbers if they are repeated next month, could have the Fed going higher, longer. That could push a Fed-led recession out in time to affect (negatively for Biden) the '24 general elections. always need to wait a month until the corrected numbers come out but things are looking up. Quote Link to comment Share on other sites More sharing options...
NVGiant Posted February 3 Share Posted February 3 I've said it before. And I'll say it again. This the weirdest damn economy in my lifetime. The yo-yo economy... 3 Quote Link to comment Share on other sites More sharing options...
Billings Posted February 3 Share Posted February 3 On 2/3/2023 at 12:34 PM, SDSUfan said: Directly correlates to the drying up of generous covid unemployment compensation. Maybe one day, the government will allow landlords to collect rent again. More likely due to an increase in wages. with so many older americans retiring early it also opened up some attractive opportunities 1 Quote Link to comment Share on other sites More sharing options...
retrofade Posted February 3 Share Posted February 3 On 2/3/2023 at 1:55 PM, renoskier said: the lowest unemployment rate sine 1969... we're going to need to change the labor shortage narrative from "nobody wants to work" to "everybody already has a job"! The far right argument is that those numbers don't count; because of some nebulous number (they can't ever define how many) of people that have supposedly just given up on working in favor of getting government handouts. 2 Quote Link to comment Share on other sites More sharing options...
Nevada Convert Posted February 3 Share Posted February 3 On 2/3/2023 at 10:27 AM, tspoke said: January Jobs report blows expectations out of the water with 517,000 jobs added after a predicted 180,000. A soft landing looking more likely. Lots of good news in this report. January jobs report: The US economy added a whopper 517,000 jobs last month | CNN Business Inflation is often caused by an over-heated economy. No one is complaining about no jobs. LOL. Everyone is complaining about fvcking inflation. That’s what people want fixed. Quote Link to comment Share on other sites More sharing options...
happycamper Posted February 3 Share Posted February 3 On 2/3/2023 at 3:11 PM, grandjean87 said: Talking about the "grind" as a duty and the means to success seems more prevalent now. I see 20/30/40-somethings refer to it as almost heroic. Get up, go to work, and keep on grinding. They also express a lot of animosity in various ways towards those who aren't working. Scamming the system is looked down on in ways that feel different, but again this is anecdotal. My insights comes from primarily from working class folks rather than the profession class. Again, data and studies are mixed on worker attitudes. meh. I had that attitude coming out of college too. didn't last very long lol. Quote Link to comment Share on other sites More sharing options...
