Bump when these numbers move

post #438?

kingstonlake wrote:C'mon Trap. You can do it.

Meanwhile, average hourly wage growth unexpectedly decelerated in February. On an annual basis, wages rose 5.1%, marking the slowest rate since December. And over last month, average hourly earnings were flat after rising by 0.6% in January.

But even with the slowdown, wages have risen at rates well above pre-pandemic trends for months now. This has, in turn, contributed to the overall rise in inflation seen across the U.S. economy, though wages have not kept pace with the rise in consumer price inflation. The Consumer Price Index last rose 7.5% in January over last year — the biggest jump in 40 years.

kingstonlake wrote:People are working for less

Meanwhile, average hourly wage growth unexpectedly decelerated in February. On an annual basis, wages rose 5.1%, marking the slowest rate since December. And over last month, average hourly earnings were flat after rising by 0.6% in January.

But even with the slowdown, wages have risen at rates well above pre-pandemic trends for months now. This has, in turn, contributed to the overall rise in inflation seen across the U.S. economy, though wages have not kept pace with the rise in consumer price inflation. The Consumer Price Index last rose 7.5% in January over last year — the biggest jump in 40 years.

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/february-2022-jobs-report-labor-department-unemployment-usa-200943212.html

BLS Press Release Quote wrote:Average hourly earnings for all employees on private nonfarm payrolls, at $31.58 in February, were little changed over the month (+1 cent), after large increases in recent months. Over the past 12 months, average hourly earnings have increased by 5.1 percent. In February, average hourly earnings of private-sector production and nonsupervisory employees rose by 8 cents to $26.94.

Realtime Inequality provides the first timely statistics on how economic growth is distributed across groups. When new growth numbers come out each quarter, we show how each income and wealth group benefits. Controlling for price inflation, average national income per adult in the United States increased by 7.6% in 2021, and average income for the bottom 50% grew by 11.7%. National income is similar to GDP (which grew slightly less in 2021) and a better indicator of income earned by US residents.

kingstonlake wrote:Lol. Trapper, I strongly urge you to get out in the real world and feel inflation vs linking articles that try to convince you inflation isn't a real thing.

kingstonlake wrote:thanks for the link Trapper. It clearly shows that among all groups the middle 40% has the lowest wage growth among all groups.

kingstonlake wrote:So you actually believe that across all groups we all have the ability to afford more "stuff" than we could last year? Even if you do believe that, the scaled average is weighted based on the top three groups in gains are the top .01%, .1%, and 1%

kingstonlake wrote:I give up.

Employment Numbers wrote:WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week as layoffs continue to fall amid a strong job market rebound.

Jobless claims fell by 15,000 to 214,000 for the week ending March 12, down from the previous week’s 229,000, the Labor Department reported Thursday. First-time applications for jobless aid generally track the pace of layoffs.

The four-week average for claims, which compensates for weekly volatility, fell to 223,000 from the previous week’s 231,750.

In total, 1,419,000 Americans — a 50-year low — were collecting jobless aid the week that ended March 5, down 71,000 from the week before that.

Earlier this month, the government reported that employers added a robust 678,000 jobs in February, the largest monthly total since July. The unemployment rate dropped to 3.8%, from 4% in January, extending a sharp decline in joblessness to its lowest level since before the pandemic erupted two years ago.

An inflation gauge wrote:WASHINGTON (AP) — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities squeezing Americans’ finances.

The figure reported Thursday by the Commerce Department was the largest year-over-year rise since January 1982. Excluding volatile prices for food and energy, so-called core inflation increased 5.4% in February from 12 months earlier.

Robust consumer demand has combined with shortages of many goods to fuel the sharpest price jumps in four decades. Measures of inflation will likely worsen in the coming months because Thursday’s report doesn’t reflect the consequences of Russia’s invasion of Ukraine, which occurred Feb. 24. The war has disrupted global oil markets and accelerated prices for wheat, nickel and other key commodities.

Squeezed by inflation, consumers increased their spending by just 0.2% in February, down from a much larger 2.7% gain in January. Adjusted for inflation, spending actually fell 0.4% last month. The decline partly reflected a shift away from heavy spending on goods to a focus on services, such as health care, travel and entertainment, which consumers had long avoided during the worst of the pandemic.

BLS wrote:Total nonfarm payroll employment rose by 431,000 in March, and the unemployment rate declined to 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains continued in leisure and hospitality, professional and business services, retail trade, and manufacturing.

The unemployment rate declined by 0.2 percentage point to 3.6 percent in March, and the number of unemployed persons decreased by 318,000 to 6.0 million. These measures are little different from their values in February 2020 (3.5 percent and 5.7 million, respectively), prior to the coronavirus (COVID-19) pandemic.

Among the unemployed, the number of permanent job losers decreased by 191,000 to 1.4 million in March and is little different from its February 2020 level of 1.3 million.  The number of persons on temporary layoff was little changed over the month at 787,000 and has essentially returned to its February 2020 level.

The labor force participation rate, at 62.4 percent, changed little in March. The employment-population ratio increased by 0.2 percentage point to 60.1 percent.

Average hourly earnings for all employees on private nonfarm payrolls rose by 13 cents to $31.73 in March. Over the past 12 months, average hourly earnings have increased by 5.6 percent. In March, average hourly earnings of private sector production and nonsupervisory employees rose by 11 cents to $27.06. (This does not reflect income - Controlling for price inflation, average national income per adult in the United States increased by 7.6% in 2021, and average income for the bottom 50% grew by 11.7%. - TG)

The change in total nonfarm payroll employment for January was revised up by 23,000, from +481,000 to +504,000, and the change for February was revised up by 72,000, from +678,000 to +750,000. With these revisions, employment in January and February combined is 95,000 higher than previously reported.  (BLS still missing to the low side by too high of a number - TG)

U.S. employers added 431,000 jobs in March on a seasonally adjusted basis, the Labor Department said Friday.  

tNYT wrote:What is the broader lesson here? The world is frequently messier and harder to understand than people acknowledge. We tell ourselves artificially tidy stories about why something happened and what will happen next.

The stock market rises or falls, and analysts proclaim a cause; in truth, they are often just guessing, as Paul Krugman, the economist and Times columnist, likes to point out.

Trapper Gus wrote:

First Quarter 2022 GDP contracted by 1.4%.

RQA wrote:

Trapper Gus wrote:

First Quarter 2022 GDP contracted by 1.4%.

Biden recession just around the corner?

Trapper Gus wrote:

RQA wrote:

Biden recession just around the corner?

He tried to stop it with the BBB.  This recession is all on the Fed's gamemenship regarding inflation and the Republicians refusing to support a bill which would help the 99%

Robert J Sakimano wrote:

Trapper Gus wrote:

He tried to stop it with the BBB.  This recession is all on the Fed's gamemenship regarding inflation and the Republicians refusing to support a bill which would help the 99%

Republicans don't care about everyday folks.. they only care about making their lives miserable then weaponizing that misery.

RQA wrote:

Robert J Sakimano wrote: Republicans don't care about everyday folks.. they only care about making their lives miserable then weaponizing that misery.

If only smart people like democrats were in charge of the government then we wouldn't be having all of these problems..........

Trapper Gus wrote:

RQA wrote:

If only smart people like democrats were in charge of the government then we wouldn't be having all of these problems..........

If only, but we have a 50/50 Senate with two Democratic Senators who each for their own reasons are not on board with the other 48.

And of course in the Senate 60 Senators plus are needed to have control.

RQA wrote:

Trapper Gus wrote:

If only, but we have a 50/50 Senate with two Democratic Senators who each for their own reasons are not on board with the other 48.

And of course in the Senate 60 Senators plus are needed to have control.

More nonsense from Trapper.

The democrats control the Senate.   If they want to get rid of the filibuster all they have to do is vote it out.  They are in charge.

RQA wrote:

Trapper Gus wrote:

If only, but we have a 50/50 Senate with two Democratic Senators who each for their own reasons are not on board with the other 48.

And of course in the Senate 60 Senators plus are needed to have control.

More nonsense from Trapper.

The democrats control the Senate. If they want to get rid of the filibuster all they have to do is vote it out. They are in charge.

Regarding its balance sheet, the Fed said that Committee participants agreed to the plan for reducing its securities holding in a predictable manner. Starting June 1st, the Fed’s holdings of Treasury securities and agency debt and agency mortgage-backed securities will be reinvested to the extent that they exceed the monthly caps, which will be initially set at a combined level of $47.5 billion per month and will increase to $95 billion per month after three months.

Robert J Sakimano wrote:bump..

BLS Press Release wrote:Total nonfarm payroll employment increased by 428,000 in April, and the unemployment rate was unchanged at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, in manufacturing, and in transportation and warehousing.

The change in total nonfarm payroll employment for February was revised down by 36,000, from +750,000 to +714,000, and the change for March was revised down by 3,000, from +431,000 to +428,000. With these revisions, employment in February and March combined is 39,000 lower than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)