[ad_1]
On the earth right this moment, evil is sweet, and lies develop into the reality.
Yahoo reported on the roles report this morning.
December’s jobs report, the final learn on U.S. job development in 2022, confirmed the labor market remained robust on the finish of the 12 months, even because the Federal Reserve raised rates of interest to the best degree in 15 years.
Nonfarm payrolls elevated by 223,000 within the final month of the 12 months, in line with the most recent from the BLS revealed Friday. The unemployment price in December fell to three.5%, and on an unrounded foundation, the unemployment price came in at 3.468%, the bottom since 1969.
TRENDING: BREAKING: McCarthy Loses thirteenth Vote For US Home Speaker – One Extra GOP Holdout Flips Vote to McCarthy – Home Votes to Adjourn Till 10 PM
Zerohedge seen this too.
Studying the mainstream media’s response to right this moment’s payrolls report, one could be left with the impression that it was usually on the goldilocks facet and indicative of a potential soft-landing – contemplate this from Bloomberg: “the US labor market stayed resilient final month whereas wage good points cooled, elevating hopes that the economic system could dodge a recession and the Federal Reserve will additional gradual its aggressive marketing campaign of interest-rate hikes.”
However what isn’t being reported by the media is that wage development is falling:
The drop in wage development was in keeping with the warning from the ADP earlier this week, which discovered that December ushered in “the most important decline in pay development for job stayers within the three-year sequence historical past” (and even job-changers noticed a modest drop in wage development).
There was extra: not solely did common hourly earnings drop, however so did common hours labored, which has a significant impression on the common wages, and had hours been flat, the decline in common wages would have been much more pronounced.
What’s identified is that full-time jobs have decreased whereas part-time jobs have elevated.
Right here too we discover one thing hanging: the full variety of full-time jobs has declined by 288K prior to now ten months, which nonetheless has been greater than offset by the 886K enhance in part-time jobs.
That is Obama’s horrid economic system over again. Huge spending. Full-time job losses. Half-time job will increase as a result of individuals needing the revenue to remain afloat. Huge inflation and folks’s wages reducing by the day.
Who of their proper thoughts thinks Biden’s economic system is okay?
[ad_2]
Source link
