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Biden’s economy
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Anonymous
Anonymous
Anonymous
| So why does Trump get such high marks on the subject of the economy? |
Anonymous
Because he says stuff and for some reason, some of the people believe him and no one in the right wing echo-chamber call out his BS. |
Anonymous
Americans have been brainwashed into thinking Republicans are better at the economy for decades despite all the evidence to the contrary. Trump gets the benefit of that. |
Anonymous
Because people long for pre-Covid days. |
Anonymous
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https://bonddad.blogspot.com/2024/10/september-very-much-soft-landing-jobs.html
HEADLINES: - 254,000 jobs added. Private sector jobs increased 223,000. Government jobs increased by 31,000. - For a change, there were *upward* revisions to the last two months. July was revised upward by 55,000, and August by 17,000, for a net increase of 72,000. This breaks with the pattern from nearly every month in the past 18 months of a steady drumbeat of downward net revisions. - The alternate, and more volatile measure in the household report, showed an increase of 430,000 jobs. On a YoY basis, this series has only risen by 314,000 jobs, which remains consistent with recession, as it has for months. On the other hand, it is an improvement from last month, where there was an actual YoY decline. - The U3 unemployment rate declined -0.1% for the second month in a row, to 4.1%, which also means the “Sahm rule” recession indicator, for the first time in three months, is no longer in effect. - The U6 underemployment rate fell -0.2% to 7.7%, still 1.3% above its low of December 2022. - Further out on the spectrum, those who are not in the labor force but want a job now rose another 60,000 to 5.97 million, vs. its post-pandemic low of 4.925 million in early 2023. Last month I wrote that “Along with the big downward revisions to the last several months, this month’s report is the first time that there is substantial evidence that the jobs market may have moved past a ‘soft landing’ into a hard slowdown that could easily tip over into outright declines by the end of the year.” This month’s report completely reversed that. Not only were the headline numbers all good, but there were positive revisions to the past several months. Average middle and working class workers continue to see good wage and hourly increases in pay, with real inflation-adjusted increases to buying power. And the headline Household survey employment number joined in the good news for a change. Not everything was rosy. To reiterate what I wrote last month, “manufacturing seems at long last to have rolled over,” with the third decline in four months. The sector has shed -0.4% of its total so far this year. Trucking continues to slowly shed jobs as well. This isn’t recessionary compared with the last 30 years, but it is weak. At the further edge of the spectrum, those who haven’t looked actively but want a job now increased close to a 24 month high. But the construction sector continues to do well, including - surprisingly - residential construction jobs, despite the downturn in housing construction metrics. Short duration unemployment declined, mirroring the recent downturn in initial claims. |
Anonymous
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To be revised downward later on.
But we have an election to win first. Don't let bad news get in the way. |
Anonymous
Democrats being better for the economy goes back to the Bush41 era. Since then (the NAFTA era essentially) democrats have been responsible for most of the job creation and most of the GDP growth. Bush43 and Trump are dually responsible for almost 57% of the national debt. Two GOP presidents, 57% in the history of the US. |
Anonymous
| If only people knew how much work went into CPI and how non-political the economists are.. sigh. Not everything is political. |
Anonymous
Anonymous
Anonymous
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It’s discouraging that we could be entering a four-year cycle where Trump destroys the economy again, and we’ll have to start over in 2029. Wash, rinse, repeat. |