US jobs data show some scars from recession finally healing

[Cryptoad]

Source: ap



WASHINGTON (AP) — A burst of hiring in April provided reassurance for the U.S. economy after a slow start to the year: Job growth returned to a healthy pace. Unemployment hit a decade low. And the number of part-time workers who want full-time jobs reached its lowest point in nine years.

Employers last month added 211,000 jobs, more than double the weak showing in March, the Labor Department said Friday . And the unemployment rate dipped to 4.4 percent from 4.5 percent in March.

Taken as a whole, the April jobs report suggested that American businesses are confident enough in their outlook for customer demand to keep adding jobs briskly despite a slump in the January-March quarter when the economy barely grew.

The jobs report “does increase our confidence that the soft patch in the first quarter is over,” Michael Gapen, an economist at Barclays Capital, said in an email to clients.

Read more: https://apnews.com/61f174b63e144fd48c8a1d6bd18b3ab7/US-jobs-data-show-some-scars-from-recession-finally-healing

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Social Security Admin data show that the Median Annual income for wage earners is less than $30K. That doesn't sound like much of a "healing" to me.
That is almost half of all wage earners are living in poverty.
Oh yea,,,, the Rich need a another tax loophole, cut , whatever u want to call it!
geeez.



https://www.ssa.gov/OACT/COLA/central.html

[BumRushDaShow]

1. "A burst of hiring in April"

When Obama had 200k+ jobs a month, the business media and GOP called it "anemic" and "weak". But with the same amount under Drumpf, suddenly they are talking about a "burst" in hiring and having "confidence".

[Cryptoad]

2. Funny how that works,,,,,,, nt

[mdbl]

3. True, there's jobs

but they don't pay shit, the don't have benefits, and they are usually temporary.

[liberal N proud]

4. It is only a matter of time before the Butternut Bigot has us back in recession

[KingCharlemagne]

8. or Depression - nt

[Igel]

5. Oy.

1. Poverty for a family of 5 is around $30k/year. Not individuals. And that's gross pay.

2. This is for individuals. Household income varies--some are single men or women, some are single heads of households, some have two incomes, and in some cases (like some of my neighbors) there are 3 or 4 incomes, with husband, wife, and an adult kid or two.

3. This is net compensation. Net of taxes. If you're single you pay taxes, whether payroll or income. (Heck, my own gross pay is $53k/year, my net income for federal purposes is under $30k. Health insurance for me and the sprog, pre-tax IRA contributions, DCP contribution and taxes. Plus a portion of my income is a stipend that's not reportable as earned income to the IRS.) Note that my wife makes a little more than me (gross), but her net income is $15k/year greater.

4. It doesn't include entitlements and other kinds of unearned income.

5. It does include people like my students who work part time, some of whom are from well-off families and some of whom aren't. It would also include people like my brother, who reports income but is retired and does some work to kill the boredom. Without some sense of the proportions of the different groups, the numbers are nice but fairly meaningless in any sort of reasoned sense.


Still, the numbers include people working part time who are in poverty and would like to work full time, those who work full time and are still in poverty. It's a mixed bag. To mention one category isn't to say the other doesn't exist, but for understanding you need to be clear that there are all kinds of groups in here. Some are poor with kids, some are single college grads making $35k/year starting salary and after taxes/insurance/retirement are under the median.

The case is more dire when you look at household income. Suddenly all those part-timer kids don't matter--they're not "households"--and you can realistically look at poverty levels because you're taking into account the income for units that include kids. The income distribution is even more skewed for those: one of the largest predictors of a couple's staying together is education level. One of the largest predictors of personal income is education level. So higher-income individuals pair up to boost household income even more. One of the single biggest predictors of family size is also education--more education on average means fewer kids. So the higher-income households are more likely to have fewer children, while lower-income households typically have more children (and with poverty level dependent on family size ...).

[Cryptoad]

6. Wow ,,,,

all these poor Folks didnt know they had it so good,,,,,,,,,,,,,

[truthisfreedom]

7. Because OBAMA.

45 will attempt to take credit but all he does is barf up orange bile.