Can we talk about that jobs report?

[hal9000]

Analysis: Here's what makes a jobs report 'shocking'

January jobs data reported by the government confounded experts and contradicted expectations, as forecasting has become more complicated by the Covid-19 pandemic. Companies, Wall Street and the Federal Reserve will all use this data to inform their decisions, which can affect everyone.

www.cnn.com

Strong Jobs Report Shows Resilient Economy Despite Covid Wave (Published 2022)

A gain of 467,000 jobs in January defied forecasts that the Omicron variant would hobble the labor market.

www.nytimes.com

 

[StuAzole]

where’s one of those “I did that” Biden stickers when you need one?

 

[hal9000]

I guess they don't want to talk about it.

 

[StuAzole]

I'm shocked this topic didn't get more play. Shocked!

 

[mundus]

High GDP growth as well.

 

[hal9000]

How about that jobs report

EXPLAINER: 5 key takeaways from the June jobs report

WASHINGTON (AP) — Inflation is raging. The stock market is tumbling and interest rates rising. American consumers are depressed and angry. Economists warn of potentially dark times ahead. But emplo…

thehill.com

 

[hammies]

How about that jobs report

EXPLAINER: 5 key takeaways from the June jobs report

WASHINGTON (AP) — Inflation is raging. The stock market is tumbling and interest rates rising. American consumers are depressed and angry. Economists warn of potentially dark times ahead. But emplo…

thehill.com

I recall a couple of years ago a certain poster here predicted Covid was going to cause economic problems akin to the great depression.

 

[hal9000]

I recall a couple of years ago a certain poster here predicted Covid was going to cause economic problems akin to the great depression.

was it me?

 

[bird.LA]

Too many jerbs. More rate hikes incoming.

 

[afoaf]

I just learned that China won't use any outside vaccines and their domestically developed vaccine is trash which is why they are on the zero covid kick....which seems ridiculous as fk....which makes me think that the manufacturing issues are not going away any time soon

short amazon

 

[Bayview]

I just learned that China won't use any outside vaccines and their domestically developed vaccine is trash which is why they are on the zero covid kick....which seems ridiculous as fk....which makes me think that the manufacturing issues are not going away any time soon

short amazon

Don’t fret.

they’ll just “borrow” the IP. They have the technology.

 

[GromsDad]

In pre-covid world jobs numbers were seasonably adjusted. Are they still doing that or has that metric been thrown out the window?

Edit:

regarding above, here are the seasonally adjusted numbers. As you see in the chart on the right, we are just about back to the number of people working before the pandemic.

 

[ghost_of_lewis_samuels]

jobs report is relatively worthless - done via in person survey and phone call for the most part

 

[Sharkbiscuit]

@hal9000

 

[hal9000]

@hal9000

but but but but recession!

 

[Sharkbiscuit]

but but but but recession!

We are in a recession (or we were if Q3 comes in positive) - the definition is two (or more) consecutive quarters of negative GPD growth. But I think it's interesting that the job market is still looking good.

 

[hammies]

This recession is a RINO.

 

[GromsDad]

With all the inflation going on people need to work.

 

[hal9000]

With all the inflation going on people need to work.

and people didn't need to work before?

you out-stupided yourself once again.

 

[Sharky]

So now the worry is that the jobs report is indicative of an overheated economy and we may be looking at higher interest rates. That seems to be the perspective bothering the market this AM.