The roles increase that simply gained’t stop
[ Editor’s Note: A bright note here for the home front that the employment bump is continuing and sorely needed with the Ukraine war economic tidal wave heading out around the world, including here.
When it hits, guess who will be blamed for it, no one here for sure, especially with the country in peak election fervor and more expected indictments on the Trump mob.
The curve ball in the news below is what it does not cover, like the huge drop in sales and related jobs in areas like auto and other equipment manufacturing due to the backlog in parts requests.
And as inflation rolls forward prices will continue to go up with higher interest on charged purchases taking an additional bite. I see unchartered waters ahead and I am planning to be in full hunker down mode through the end of the year.
Let’s not forget that Covid has gone semi-bye-bye for what may be a fall surge with a new variant. And despite the US hostility to China let’s hope the Shanghia lockdown simmers down so its parts exporting through the clogged port can begin getting back to normal.
And with the elections there will be blocks of coal in some stockings come Santa time in December. Fortunately he never reveals who he votes for, and how many times … Jim W. Dean ]
First printed … Could 06,2022
The U.S. labor market has been sizzling, with rising wages, low unemployment and a document variety of job openings. There are virtually two jobs accessible for everybody looking for work, and the typical month-to-month positive factors of greater than 400,000 over the past 12 months exceed something seen since 1939.
On Friday, we obtained a glimpse at whether or not that extraordinary run is holding up at the same time as clouds loom over different elements of the financial system and the Federal Reserve is planning aggressive rate of interest hikes to curb inflation. The reply is sure.
The Labor Division’s employment report for April confirmed a achieve of 428,000 jobs and unemployment remaining at a low 3.6 %, demonstrating that the market stays remarkably robust and tilted towards job seekers. The jobless price is near the place it was earlier than the pandemic.
Nonetheless, the workforce stays smaller than earlier than the pandemic ravaged the financial system, shrinking once more in April with 363,000 folks leaving the market. And job progress numbers for February and March have been revised down by a mixed 39,000.
…“Right this moment, we realized that the financial system created 428,000 jobs in April – bringing the whole variety of jobs created since I took workplace to eight.3 million: record-setting job creation in my first 15 months in workplace.”…“Our plans and insurance policies have produced the strongest job creation financial system in trendy instances.”