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Can we talk about that jobs report?
- Thread starter hal9000
- Start date
1.7% YOY on top of a huge increase in 2021 and 2022.
Eggs and beef have calmed down from the highs but they are still significantly higher than what they were a few years ago.
Don’t forget 2020. Mid 2020 saw food inflation 1.5% higher than today, with rates more than doubling in just 3 months (1.9% in March to 4.5% in June).
The question is what would you like to see happen? Prices will never go back to 2019 levels Short of a massive deflationary period, which would absolutely wreck the economy.
Related to eggs specifically, price fluctuations have had a lot more to do with viruses than Larger inflationary pressures.
nah b. this morning Ralphs didnt even have any organic eggs and the shitty kroger ones were 6 bucks a dozen. most expensive ive seen them as the shittyones are usually like 3 bucks lately and the organics 6 bucks.
i do however think at this point its just the brands fkn around cuz they can. no reason some frozen veggie burgers that used to be 4 bucks are 7 now. we dont have a veggie burger shortage.
inflation should make most of the items you’re referring to go up by like 20-50 cents.
these companies are just gouging because they know nobody will call them on it. Same sh!t happened in 2005 when gas prices were crazy high.
its crazy to me that food is expensive while tvs are dirt cheap.
It is until you quantify the products by shelf-life and how automated the process to point of sale is.
demand for vegetarian/vegan food has increased dramatically since Covid (40 or so percent if I read correctly). Inflation has caused general increases in prices, but standard supply/demand rules still apply. Prices will continue to rise until consumers balk. How expensive do veggie patties need to get before you switch?
Generally vegan foods are premium-priced products. If ground round is $7/lb and impossible burger meat is $11/lb, you can't switch from cow to lab based and then complain about inflation.
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Surprise surprise.....
Initial US employment reports overstated by 439,000 jobs in 2023
------------------------------------------------------
There’s something wrong with previous U.S. jobs reports.
The government quietly erased 439,000 jobs through November 2023, a closer look at the numbers from the Bureau of Labor Statistics shows.
That means its initial jobs results were inflated by 439,000 positions, and the job market is not as healthy as the government suggests.
Since the government wiped out 439,000 jobs after the fact, the total percentage of jobs created by the government last year is even higher. Increased government hiring has been driving the jobs numbers higher.
This matters because U.S. jobs reports move the markets and U.S. Treasury yields. Plus, they are a significant factor in the Federal Reserve’s decisions about the path of interest rate hikes and cuts. All that affects U.S. consumers’ pocketbooks.
"Time to stop trading off the payroll data," tweeted David Rosenberg, founder of Rosenberg Research Associates. By his calculations, he says the downward revisions came to "an epic 443,000," adding, "more than 40% of payroll growth in 2023" came from "the fairy tale ‘Birth-Death’ model" the BLS uses to "guesstimate" its jobs reports.
.....
In August 2023, the BLS issued a preliminary revision for the 12 months through March 2023 showing U.S. job growth for that period was overstated by a net 306,000 jobs. That’s 25,500 fewer jobs on average per month in that period.
Private sector job creation also was adjusted lower by 358,000 in that period, while government payrolls were revised by an increase of 52,000.....
------------------------------------------------------
Whoulda thunk?
.
Surprise surprise.....
Initial US employment reports overstated by 439,000 jobs in 2023
------------------------------------------------------
There’s something wrong with previous U.S. jobs reports.
The government quietly erased 439,000 jobs through November 2023, a closer look at the numbers from the Bureau of Labor Statistics shows.
That means its initial jobs results were inflated by 439,000 positions, and the job market is not as healthy as the government suggests.
Since the government wiped out 439,000 jobs after the fact, the total percentage of jobs created by the government last year is even higher. Increased government hiring has been driving the jobs numbers higher.
This matters because U.S. jobs reports move the markets and U.S. Treasury yields. Plus, they are a significant factor in the Federal Reserve’s decisions about the path of interest rate hikes and cuts. All that affects U.S. consumers’ pocketbooks.
"Time to stop trading off the payroll data," tweeted David Rosenberg, founder of Rosenberg Research Associates. By his calculations, he says the downward revisions came to "an epic 443,000," adding, "more than 40% of payroll growth in 2023" came from "the fairy tale ‘Birth-Death’ model" the BLS uses to "guesstimate" its jobs reports.
.....
In August 2023, the BLS issued a preliminary revision for the 12 months through March 2023 showing U.S. job growth for that period was overstated by a net 306,000 jobs. That’s 25,500 fewer jobs on average per month in that period.
Private sector job creation also was adjusted lower by 358,000 in that period, while government payrolls were revised by an increase of 52,000.....
------------------------------------------------------
Whoulda thunk?
.
Fact check: Did Trump or Biden create more jobs over 30 months? (wral.com)
"When Trump took office in January 2017, the U.S. had 145.6 million nonfarm jobs.... After Trump’s first 30 months ...the number of jobs had risen to 150.8 million. That’s an increase of about 5.2 million jobs...."
"When Biden took office in January 2021, the U.S had almost 143 million nonfarm jobs. By Biden’s 30th month in office — June 2023 — the number of nonfarm jobs had risen to 156.2 million. That’s an increase of 13.2 million jobs."
What is better during their first 30 months in office, 5.2 million jobs added by Trump, or 13.2 million jobs added by Biden?
"When Trump took office in January 2017, the U.S. had 145.6 million nonfarm jobs.... After Trump’s first 30 months ...the number of jobs had risen to 150.8 million. That’s an increase of about 5.2 million jobs...."
"When Biden took office in January 2021, the U.S had almost 143 million nonfarm jobs. By Biden’s 30th month in office — June 2023 — the number of nonfarm jobs had risen to 156.2 million. That’s an increase of 13.2 million jobs."
What is better during their first 30 months in office, 5.2 million jobs added by Trump, or 13.2 million jobs added by Biden?
Employers added 303,000 jobs in March, soaring past expectations — The Washington Post
The jobs market is charging ahead in 2024 after a gradual cooling for much of past year in response to soaring interest rates.
apple.news
Fake news. Get back to us with the revised numbers. Also apparently full time jobs going down and part time jobs going up which is not a healthy way for things to be going.
Employers added 303,000 jobs in March, soaring past expectations — The Washington Post
The jobs market is charging ahead in 2024 after a gradual cooling for much of past year in response to soaring interest rates.
We all know if a Republican in office you would be claiming this is the greatest economy ever.