The Stock Market Is Not The Economy Thread II

[archibaldcrane]

It's "payrolls added" so it could be second or third jobs. That being said, only ~5% of workers have more than 1 job at a given time so it's unlikely that it's a major factor in job growth.

[NynJa]

How many workers are working 40 hours a week just to live paycheck to paycheck?

Dont tell us that 5% of people making 6 digits are working a second job to supplement their income. We all know thats bullshit. I doibt thats even .5%

[Kaslo]

It's "payrolls added" so it could be second or third jobs. That being said, only ~5% of workers have more than 1 job at a given time so it's unlikely that it's a major factor in job growth.

"But it's not 0% so gotcha cuck!"

[archibaldcrane]

And while you're at it what other context is relevant to the numbers, or where can I go to learn more about said numbers

Here's a monthly jobs report article regarding what the terms mean, how they are calculated, etc - it's from 2019 but entirely applicable for today.

https://www.nytimes.com/2019/05/03/b...bs-report.html

[archibaldcrane]

How many workers are working 40 hours a week just to live paycheck to paycheck?

you're going to need to define "paycheck to paycheck" to get anywhere close to an answer to this question, better to look at median wages and things of that nature.

[archibaldcrane]

Median wages for full-time workers adjusted for inflation in Q3 2022 were ~equal to Q4 2019, the last full pre-pandemic quarter. You'd like to see year over year growth, but you'd also not like to see a flash-depression due to global pandemic, so all things considered it's ok.

https://www.bls.gov/news.release/wkyeng.t01.htm

[thetruepandagod]

archi out here flailing for his life

[Tomiko]

It's "payrolls added" so it could be second or third jobs. That being said, only ~5% of workers have more than 1 job at a given time so it's unlikely that it's a major factor in job growth.

[Roranora]

Probably higher than 5%.

Based on data from the Bureau of Labor Statistics, more than 400,000 Americans work two full-time jobs. In September 2022, 4.9% of all the more than 164 million US workers held two or more job positions, over 7.7 million workers.

Though US census data estimates these rates and numbers to be much higher, at 7.8% in the most recent year where data is available, 2018, about 13 million workers, while BLS data at the time estimated 5.0% of the workforce holding multiple jobs.

Both data sets are considered an underestimate of the number of multiple jobholders in the US labor market due to constrictions on what is defined as a multiple jobholder and the lack of data on self-employment, such as gig workers.

An annual survey sponsored by the Federal Reserve Board estimated an even higher number of workers in multiple jobs, at 16.4% in 2019, about 26.5 million workers.

[archibaldcrane]

Sure but gig workers aren't counted in new payrolls either, so they wouldn't show up in the jobs report.

[Outlaw]

This is not exactly economy related but it's money so..

US Powerball lottery has reached a record 1.9 billion. Drawing tonight. If somebody gets it the lump sum payment will be 929.1 million dollars approximately.

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[Mrbeansman]

In before the winner is killed by a family member who hired a hitman.

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[Salodin]

In before the winner is killed by a family member who hired the fbi.

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Ftfy

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[Cail]

aw its tonight? i thought it was tomorrow night, dang

[zoobernut]

This is not exactly economy related but it's money so..

US Powerball lottery has reached a record 1.9 billion. Drawing tonight. If somebody gets it the lump sum payment will be 929.1 million dollars approximately.

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Whoever wins should buy Twitter from Elon.

[archibaldcrane]

Single winner in Altadena, California, like 9 miles from me

[Kaslo]

https://twitter.com/jasonfurman/stat...roqCxLsrBwJLEQ
https://twitter.com/JustinWolfers/st...roqCxLsrBwJLEQ
https://twitter.com/realMeetKevin/st...roqCxLsrBwJLEQ

[archibaldcrane]

S&P500 up over 4.5% this morning on the news, an absolutely massive gain.

[Spicyryan]

S&P500 up over 4.5% this morning on the news, an absolutely massive gain.

Wouldn't be shocked if it was a bull trap.

[archibaldcrane]

Never want to see a crypto exchange founder end a 22 tweet thread with this

https://twitter.com/SBF_FTX/status/1...8IdNyI7yw&s=19