The Stock Market Is Not The Economy Thread II

[6souls]

https://www.cnbc.com/2021/12/01/adp-november-2021.html

November private payroll report.

Private hiring increased by 534,000 for the month, better than the Dow Jones estimate of 506,000 in a labor market that appears to be getting tighter. The total was a decline from the October growth of 570,000, which was revised lower by 1,000.

Big business led job creation by company size, but it was hospitality and leisure that led in the sectors.

The industry that includes bars, restaurants, hotels and similar businesses saw a gain of 136,000, part of the 424,000 positions added in the services sector.

Also posting strong gains were professional and business services with 110,000, trade, transportation and utilities with 78,000, and education and health services, which added 55,000.

On the goods-producing side, construction saw growth of 52,000 while manufacturing was up 50,000.

Companies employing 500 or more added 277,000 for the month, with growth especially strong in those with 1,000 or more workers, which contributed 234,000. Medium-sized firms hired 142,000 while those with fewer than 50 employees added 115,000.

[archibaldcrane]

Crazy that new UI filings are so low but I still can't get through to a customer service rep to file.

[Roranora]

only Darcy and Brenda are there these days, and Brenda ain't what she used to be. have patience

[Day]

only Darcy and Brenda are there these days, and Brenda ain't what she used to be. have patience

lmao

[kuronosan]

I'm curious if those numbers include people who were filling positions someone else vacated previously.

[6souls]

https://www.cnbc.com/2021/12/03/jobs...mber-2021.html
https://www.bls.gov/news.release/empsit.nr0.htm

November jobs report.

Nonfarm payrolls increased by just 210,000 for the month, though the unemployment rate fell sharply to 4.2% from 4.6%, even though the labor force participation rate increased for the month to 61.8%, its highest level since March 2020.

The Dow Jones estimate was for 573,000 new jobs and a jobless level of 4.5% for an economy beset by a chronic labor shortage.

A more encompassing measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons dropped even more, tumbling to 7.8% from 8.3%. The survey of households painted a more optimistic jobs picture, indicating an employment gain of 594,000 for the month.

Leisure and hospitality, which includes bars, restaurants, hotels and similar businesses, saw a gain of just 23,000 after being a leading job creator for much of the recovery. Though the sector has recovered nearly 7 million of the jobs lost at the depths of the pandemic, it remains about 1.3 million below its February 2020 level, with an unemployment rate stuck at 7.5%.

The October and September estimates were bumped up a combined 82,000 in the report released Friday.

Sectors showing the biggest gains in November included professional and business services (90,000), transportation and warehousing (50,000) and construction (31,000). Even with the holiday shopping season approaching, retail saw a decline of 20,000. Government added 10,000 jobs to the total.

Worker wages climbed for the month, rising 0.26% in November and 4.8% from a year ago. Both numbers were slightly below estimates.

[Zealot]

Raw unemployment down, workforce participation up, discouraged workers down, terrible news for Joe Biden.

Sent from my SM-N981U using Tapatalk

[archibaldcrane]

Raw unemployment down, workforce participation up, discouraged workers down, terrible news for Joe Biden.

Sent from my SM-N981U using Tapatalk

Don't forget prior job gains revised upwards!

[Andalusian girls]

at this point inflation is all that matters boysss

[archibaldcrane]

https://twitter.com/byHeatherLong/st...aGhcZmiRg&s=19

1) Obviously these two are extremely related to each other
2) The anecdotal replies to this are brutal

[archibaldcrane]

at this point inflation is all that matters boysss

Need to get a wage/price spiral going and inflate away my debt

[Andalusian girls]

- Weimar Republic, 1923

[6souls]

https://twitter.com/MPRnews/status/1466862049439338497

[archibaldcrane]

- Weimar Republic, 1923

Might just fuck around and reduce income inequality while we're at it

[archibaldcrane]

Lol, the global pandemic didn't even dent "are you in a better financial position now than 5 years ago" metrics that are at an all time high

[6souls]

https://twitter.com/USDOL/status/1468937471392194560

[archibaldcrane]

https://twitter.com/USDOL/status/1468937471392194560

More and more people are calling it the Biden Boom

https://twitter.com/robshapiro/statu...9pGE82oug&s=19

[archibaldcrane]

BB

https://twitter.com/JohnHKingston/st...1P_OHfOBw&s=19

[Jaybar]

Cool so these facilities and regional infrastructure need to be upgraded to account for the increase in shipping demands.

[archibaldcrane]

Certainly, the Biden Boom might never end