April Jobs Report: Employment SURGES 177,000 M-o-M ----AND---- 400,000 Foreign-born workers left the survey

Economy
21

I didn’t say the past decade has been good. I said the past decade has been good for the supply side of labor. Because by basically every measure it has favored supply. The number of unemployed has been low, the number of job openings has been high, real wages have increased including real wages for the bottom quartile.

Said another way, where this (side) conversation started: right now is a great time to be graduating into the labor market. That’s been the case for a decade with the obvious exception of the pandemic.

1 Like
22

Fair enough,
I started by trying to “keep it in perspective” and wound up being negative.

No matter which arrows I draw for the past decade they have a positive slope.

23

It’s a good convo that challenges my notions and approach at times, which is great. Not a whole lot of people care to dig this deeply into the Employment Situation Report :slight_smile:
Plus it’s over here in the quiet zone of this forum.

1 Like
24

Borrowing $100 to ‘grow’ by $90 is not usually considered a win.

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The fact that we count “how many cookies did I consume” as “growing” makes it worse, not better.

25

2024 in a nutshell:

Step1

  • Federal gov’t borrows and spends $2.5 trillion.

Step 2

  • GDP grows $1.4 trillion.

Step 3

  • Call that a “win.”