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In reply to the discussion: December jobs report: Payrolls rise by 199,000 as unemployment rate falls to 3.9% [View all]BumRushDaShow
(131,433 posts)6. NYT had something up
U.S. added 199,000 jobs in December, a weak showing.
By Sydney Ember and Jeanna Smialek
The American economy stumbled in December, as the slowdown in hiring continued even before the labor market faced a new threat from the coronavirus.Employers added 199,000 jobs in December, the Labor Department said Friday. That was down from 249,000 in November. The unemployment rate fell to 3.9 percent.
The faltering job growth was especially worrisome because the data released on Friday was collected in mid-December, before the pandemics latest wave. Since then, the Omicron variant has ignited a steep rise in new coronavirus cases, driving up hospitalizations, keeping people home from work and prompting fresh uncertainty among employers. Economists are bracing for the surge in cases to further disrupt job growth in January and in the coming months, though it is too soon to say how it will affect the labor market in the longer term.
I think Omicron will slow hiring in January, said Nela Richardson, chief economist at the payroll processing firm ADP. It might hit in early February as well. The report sets the tone heading into a crucial midterm election year and could foretell challenges for Democrats, who have struggled to tamp down anxiety about the economy.
The seesawing employment situation underscores the economys continued susceptibility to the pandemic, nearly two years on. Although the labor market has brightened, some industries with face-to-face interactions, notably leisure and hospitality, remain extraordinarily vulnerable to case levels.
https://www.nytimes.com/live/2022/01/07/business/stock-market-economy-news/jobs-report-december-2021
By Sydney Ember and Jeanna Smialek
The American economy stumbled in December, as the slowdown in hiring continued even before the labor market faced a new threat from the coronavirus.Employers added 199,000 jobs in December, the Labor Department said Friday. That was down from 249,000 in November. The unemployment rate fell to 3.9 percent.
The faltering job growth was especially worrisome because the data released on Friday was collected in mid-December, before the pandemics latest wave. Since then, the Omicron variant has ignited a steep rise in new coronavirus cases, driving up hospitalizations, keeping people home from work and prompting fresh uncertainty among employers. Economists are bracing for the surge in cases to further disrupt job growth in January and in the coming months, though it is too soon to say how it will affect the labor market in the longer term.
I think Omicron will slow hiring in January, said Nela Richardson, chief economist at the payroll processing firm ADP. It might hit in early February as well. The report sets the tone heading into a crucial midterm election year and could foretell challenges for Democrats, who have struggled to tamp down anxiety about the economy.
The seesawing employment situation underscores the economys continued susceptibility to the pandemic, nearly two years on. Although the labor market has brightened, some industries with face-to-face interactions, notably leisure and hospitality, remain extraordinarily vulnerable to case levels.
https://www.nytimes.com/live/2022/01/07/business/stock-market-economy-news/jobs-report-december-2021
They won't admit that their models are broken and they really can't predict what will inevitably be revisions upon revisions due again to "late reporting".
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December jobs report: Payrolls rise by 199,000 as unemployment rate falls to 3.9% [View all]
mahatmakanejeeves
Jan 2022
OP
Expect CNN to have chyrons saying ... President Biden struggles with low poll #s
Botany
Jan 2022
#12
They already have a tag line this morning "Biden's credibility is on the line"
Bengus81
Jan 2022
#20
or that 2 democratic assholes along with every single republican in the senate are stopping ....
Botany
Jan 2022
#24
Sadly it's not just "the Republicans" who say things like that and shit on Biden.
NurseJackie
Jan 2022
#10
WaPo finally up with theirs (took them 15 minutes to put on their webpage despite the time stamp)
BumRushDaShow
Jan 2022
#8
The Wall Street Journal.: "December Jobs Report Shows Record Annual Gain"
mahatmakanejeeves
Jan 2022
#9
Partly because the BLS buries the revisions way down deep in the press release:
progree
Jan 2022
#22