September Jobs report STUNS

[onetexan]

https://finance.yahoo.com/news/jobs-report-stunner-us-economy-creates-336000-jobs-in-september-nearly-twice-the-number-expected-123822203.html

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September jobs report 'reinforcing' Fed's hawkish outlook: EconomistScroll back up to restore default view.
Josh Schafer
Josh Schafer·Reporter
Fri, October 6, 2023 at 3:05 PM GMT+2
In this article:

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The US economy added 336,000 jobs in September, highlighting concern that the labor market isn't cooling as fast as the Federal Reserve would like in its battle against inflation.

The nonfarm payroll additions were nearly double the 170,000 economists surveyed by Bloomberg had expected. Revisions to the August and July jobs reports released Friday showed there were 119,000 more jobs created during those months than previously reported, according to data from the Bureau of Labor Statistics.

In September, the unemployment rate remained flat at 3.8%, unchanged from August, and at a level not seen since February 2022.

"Today's report was unequivocally strong," Morgan Stanley chief US economist Ellen Zentner wrote in a research note on Friday. "Too strong for policymakers to relax their tightening bias. Inflation has been decelerating faster than Fed forecasts, but continued strength in job gains will fuel doubts that the pace of deceleration in inflation will be sustained."
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On today's Morning Joe they were showing a poll (don't recall which one) that showed Biden with low approval numbers. Who are they polling - Republicans?? This is why i don't trust polls. Biden Walks the Walk & continues to deliver for the middle class, not billionaires.

[bigtree]

1. k&r

Link to tweet

[peppertree]

13. Hear, hear

There isn't a doubt in my mind that, had Cheeto somehow secured a second term - we would now be in a full-blown, Bush-style banking collapse.

Plus, of course, wars in Venezuela and Iran.

"I wanna be a war president - look at what 9/11 did for Bush!"

[usonian]

2. They are polling the young republican club.

High employment? Bad for Joe Biden,
Low employment? Bad for Joe Biden.

MSM has deteriorated to the point where they should be using spray paint on highway overpasses rather than electronic media.

[Aristus]

4. That's an insult to taggers.

Guys with skill, daring, and intrepidity. Things the mainstream media hasn't had since the repeal of the Fairness Doctrine in the Eighties.

[usonian]

5. Why do so many of my posts get labeled as insults to (fill in the group)?

Or is it just you?

Guess I'll have to "do my own research"

[Aristus]

6. I'm not picking on you on purpose.

I mean, I can start, if you want.

No. It was just meant to be the usual joking "That's an insult to..." posts.

And please God, don't "do your own research'. That way lies madness...

[usonian]

10. Just having fun, as you are.

I was in the service. No insult bothers me.
Praise does. I suspect that it's phony.
Praise away!

[orangecrush]

9. "How DARE you?"

"I dare easily!"

[usonian]

11. How are you doing?

I hope that your situation has improved!

[orangecrush]

24. It has

Thank you!

[Ray Bruns]

3. This Biden recession is killing me!

[Boomerproud]

7. Of course CNN headlines are blaring that it's bad for ordinary Americans.

Out of here...

[Bluethroughu]

8. People going to work to care for themselves is not driving inflation!

The Fed chair should be removed.

The inflation that exists is corporate greed and spending from all the PPP money they got for free and then pushing up prices on goods and services for everyone.

Handle the big rip off.

If you have the largest amount of credit card debt, but an increase in jobs...people are trying to care for themselves.

[mountain grammy]

20. Exactly!

[DENVERPOPS]

21. Yes !!!!!!!!!!!!!!

Agree, esp with the cause of inflation being created by Corporations just to make Biden look bad, same with oil companies and gas prices.............People need to look at he Corporations all reporting RECORD profits due to their increased prices for a smaller amount of goods........(think groceries for an example)

.........."The US economy added 336,000 jobs in September,"..............

Hell, those jobs are probably people taking on a second job to afford the ludicrous profiteering of the Corporations.....LOL

[Bluethroughu]

26. Time to enforce the Sherman Anti-Trust Act and break them up.

When business can control the economy and people, we're in a fascist state.

They want to break our Democracy and have been working at it since the early 20th century.

[DENVERPOPS]

27. Instead of

USA, it is nearing the CFSA Corporate Fascist States of America

The current politicians are the best that money can buy.............

The Repubs loathe FDR and all the regulatory agencies he put in place, and starting during the Reagan years, they have basically been emasculating their power more and more

It amazes me, the number of people who don't begin to see the control that corporations are gaining over us everyday............

[Bluethroughu]

28. It's frustrating and frightening. We need to pack that court, and take some

Corporate power away, and overturn Citizens United.

[DENVERPOPS]

30. YOU

are absolutely right, that would end a lot of things in one fell swoop

[Bluethroughu]

31. I really think it's the only way to get ahold of this.

The conservatives on the court are working for, paid by, the corporate overlords that give them cases to overturn legislation for their personal benefit, after they've given gifts, jobs. Money, homes, vacations etc...

We are in some serious territory, which calls for serious action. Pack the Court.

[DENVERPOPS]

32. Not sure why Biden

hasn't elected to increase the number of Supremes by as many as he can......that would be a starter. AT LEAST a 50-50%????????

Then work on reversing Citizens United.

I also can't figure out why DeLay? at USPS is still there. He is still doing major damage......He stopped all mail and packages going by Air thru out the U.S. a few weeks ago......giving UPS and Fedex a definite unfair advantage as ALL of their stuff goes by air......by getting rid of the lower cost alternative, (USPS), they are wide open to increasing their rates. Especially given the fact that they charge a higher rate, then dump a large amount of their packages on USPS to deliver to rural areas which would cost THEM a fortune.........
How the hell does that work????????????

Another cute USPS thing.........Air Freight to Alaska costs a fortune. Most everything goes by Air Freight. Corporations can ship their goods to Seattle USPS centers on pallets from all over the country. BY LAW, the most USPS can charge for the pallet, to fly it to any address in the State of Alaska, regardless of weight is One Hundred Dollars and USPS makes up the difference. A hundred bucks gets it not only to Anchorage, but all the way to the final destinations which include hundreds and hundreds of small villages scattered across the vast state. And the most USPS can charge is a hundred bucks a pallet. The Airlines and air freight carriers charge a fortune for the trip to Anchorage, and then small Airlines and small airfreight carriers charge even a higher rate for the end delivery all over Alaska........Everything goes this way, including all the groceries to stock all the tiny villages little grocery stores....

I worry we are past the point of no return. The corporations have been working since Reagan, and in all truth, they are most of the way to controlling it all already......

Sometimes I think: I'm glad I am old, but then I think of my kids and Grand kids............Then I wonder if any/all these Republican Politicians have kids or grand kids? Or do they only worry selfishly about taking care of themselves......I fear the later......

[ramapo]

12. Bizarro world

It is beyond strange that a great jobs report is seen as bad.

[CloudWatcher]

23. Any economy that depends upon cheap labor ...

Rule #1 -- any economy that depends upon cheap labor should be dismantled and rebuilt from the ground up.

[Bluethroughu]

29. Yes, because it is built on slavery, not living wages for a human's time.

[CloudWatcher]

14. wtf: "highlighting concern that the labor market isn't cooling"

Yeah, god forbid that we might actually all find the jobs we need. Jerks.

[onetexan]

15. This!!

[rurallib]

19. The media does corporate bidding and blames labor for inflation

when the truth is business is liable by gouging folks to begin with coming out of the pandemic.

[DENVERPOPS]

22. Not just AFTER the pandemic

There were many reports of Corporations taking government money designed to help them keep people employed, and then immediately after receiving HUMONGOUS amounts, they laid off all the employees and kept the money for the stock holders and executives........

[NoMoreRepugs]

16. Bidenomics to me means let the country WORK it's way through problems like inflation. Better 3.8%

unemployment that 8.3% don't ya think??

[onetexan]

25. This!!

[ffr]

17. Everything Biden touches turns to gold.

His actions defy GOP common branding, that when you tax the rich, they say, you hurt the economy.

Bidenomics proves them wrong, just as Clinton's deficit pay-off infuriated the GOP because it made their fiscal responsible conservative actions look like window dressing.

Joe Biden did this! Democrats did this.

[gratuitous]

18. Morgan Stanley's Zentner: Heads I win, tails you lose

What the hell does this mean: "Inflation has been decelerating faster than Fed forecasts, but continued strength in job gains will fuel doubts that the pace of deceleration in inflation will be sustained." Too many people working and taking care of themselves means that inflation has to be goosed so they lose their jobs? I wonder how many workers could remain employed if Ellen Zentner lost her job? Wouldn't that be good for the economy?

Or, maybe everyone could keep their jobs, and we take a good hard look at oil prices which are soaring for no apparent reason. But higher gas prices affect practically every sector of the economy, while company executives pocket 11 figure quarterly profits. Wouldn't it help out everyone if oil company greed was reined in? Or is that just too obvious it doesn't bear mentioning by the economic wizards?