Jobs report was announced a few minutes ago...

[MerryBlooms]

How come job losses are never mentioned? Can someone explain to me how this works? I know we've taken hits in some sectors like retail, transportation, etc... But those type of losses seem to be only mentioned as outliers, never added up for the big picture and reported, like they do with growth. The pundits Never attribute those losses to trump, but they Always attribute job growth to trump.

Here's some information I found on job cuts from 2019 as an example-

https://247wallst.com/jobs/2019/08/01/so-far-in-2019-us-has-lost-43-more-jobs-than-this-time-last-year/

Does the monthly jobs report take into account for instance, the losses in the trucking industry I've been hearing about?

Seeing my thoughts in black and white, I realize I sound simplistic and rambling, but why don't the pundits report the gains and losses? Why are they not holding trump accountable for the losses, but giving him credit for gains?

[getagrip_already]

1. The numbers are being cooked....

The labor dept under trump is not releasing accurate or clear data. It is releasing lies and fake information.

[dewsgirl]

2. 100 percent, I haven't believed these numbers in a couple of years.

[MerryBlooms]

4. Pundits just toss out that phony jobs number, and then wall street's expectation/reaction.

[MerryBlooms]

3. I agree. Also, they don't talk about how many billions

he's ordered pumped into the economy to prop it up!

[uponit7771]

18. +1, no one trusts this administration to give accurate news

[mahatmakanejeeves]

5. What you're looking for is JOLTS, the Job Openings and Labor Turnover Survey

It is generally released during the week following the payroll employment report. It tracks data that are two months old. Here is the latest one:

BLS Report: Job openings fall to 6.4 million in December; hires and separations little changed

[MerryBlooms]

7. TY! Good info, bookmarked!

[elleng]

6. U.S. Added 273,000 Jobs in February; Unemployment at 3.5%

'The report leaves unanswered questions about the potential economic impact of the widening coronavirus outbreak.

The Numbers
■ 273,000 jobs were added in February. Analysts had expected a gain of about 165,000, according to MarketWatch.

>>>

https://www.nytimes.com/2020/03/06/business/economy/jobs-report.html

[MerryBlooms]

9. TY

[Wounded Bear]

8. The report is pre-coronavirus and pre-market crash...

It's vapor data.

[MerryBlooms]

10. I agree.

[elleng]

11. February report

[Wounded Bear]

13. IIRC I heard one pundit say it was dated around Feb 12th or so...

before the "crisis" really hit.

[elleng]

15. Doesn't sound right to me, as its called February report;

should encompass entire month. (JMO.) See post # 12.

'U.S. Added 273,000 Jobs in February.'

[mathematic]

12. The report is a net figure, gains minus losses

Millions of new jobs are started and millions of jobs are ended per month. The reported figure represents both of these and is almost always positive.

[magicarpet]

14. Or economic boost by twisting the arm of the Fed to lower interest rates to goose things up a bit...

.... and make trDump's economy look more robust. But if hard economic times come we will find that team trDump ate all the seed corn,... now nothing left to plant.

Same with the trillion dollar tax break to the super rich and corporations. It produces few goods and services but only helps the rich hoard and accumulate more assets.... ie stocks rise, stock buy backs, massive boost to executive pay.

These economic policies balloon and expand the economy to help the rich but little benefit is realized by the middle and lower classes. It runs up a trillion dollar deficit that the lower classes must pay and squanders any future economic stimulus that might be needed down the road should the economy take its inevitable down turn toward recession.

This will eventually tank the economy - then they scream austerity - then hatchet and machete food stamps, heat assistance, medicare, medicaid, and Social Security.

The other day trDump slipped and mentioned this - it was a slip up - the drastic coming cuts to Social Security and Medicare were to remain a secret until AFTER the election.

[magicarpet]

17. trDump promises to cut Social Security and Medicare....

During a Fox News town hall, President Donald Trump promised to cut entitlements like Medicare and Social Security if were to win a second term, breaking his 2016 pledge not to cut those programs “like every other Republican.”

https://www.mediaite.com/news/trump-at-fox-news-town-hall-well-be-cutting-entitlements-like-medicare-social-security/?utm_source=mostpopular

[magicarpet]

21. .

TrumpBudget proposes these drastic cuts,

Social Security ($24B)
Medicare ($500B)
Medicaid ($900B)
EBT/SNAP ($200B)
SS Disability ($70B)

Repeals #ACA cutting 85% of the *premium subsidies & Medicaid (inc's *nursing care for senior's)

[stillcool]

16. I have never understood job numbers..

how they are calculated, and revised, month to month. Seems to have some math involved, and that can't be good.

[MerryBlooms]

19. I would like to see some talking heads or Dems talks about

the big losses in certain sectors, the billions pumped into the economy to prop it up, and start hanging those negatives around his neck every time the jobs report is released.

[stillcool]

20. I read something yesterday about the..

trillions the Fed is dumping into the market, only to find out it is not unusual. It's almost like a different dialect. It infuriates me because I do know that 1+1=2, in any language. It's like I've got to crack the code to translate, and it's frigging numbers. There is no ambiguity, but somehow there is.

[ooky]

22. It is not unusual at all, that's QE. The Fed buys up Treasury Bonds to drive down

bond yields which pushes up stock prices artificially.

[stillcool]

23. exactly...never heard of QE...

..made me look.

Quantitative easing (QE), also known as large-scale asset purchases, is a monetary policy whereby a central bank buys predetermined amounts of government bonds or other financial assets in order to inject liquidity directly into the economy.

sounds like magic. Thanks for the info..

[Xolodno]

24. Just a net number...but the devil is in the details.

It takes awhile for the real effects to set in.

For example, trucking may be down...but you still have a lot of inventory sitting around. So you still need need a full complement of people managing it...granted, managing it down. But once the warehouse starts to get empty, layoffs begin.

Sure you may get a lot of restaurant closures with layoffs....but you'll actually see a spike in cheap fast food employment until they can't absorb it all.

And even with bankruptcies, you can actually see employment temporarily go up as they have to liquidate their assets in a matter of fact way....but, once that's done. It's unemployment time.

Certain types of low cost entertainment can surge as well (this will be interesting to see, new release movies usually do well during recessions...but with so many streaming options now). So it can take awhile before the job numbers start to really drop.