A good jobs report. |
As we close out 2022, America has become more divided. The noise managed to win the House of Representatives. We are awaiting the results of the Georgia senate runoff between Sen. Raphael Warnock (D-GA) and Herschel Walker.
President Joe Biden has accomplished far more than his predecessor when it comes to jobs and policies. Matter of fact, history will judge Biden as equal to his former boss Barack Obama.
Biden and Vice President Kamala Harris are being attacked by the noise relentlessly.
Some of the attacks are rooted in ageism, racism and classism.
The Republicans take control of the House or Representatives. They already signal impeachment, national abortion bans, more guns on the streets, ending birthright citizenship, stopping the Biden pledge to cancel student debt, use taxpayer money to build a border wall, ban transgender people from playing gender based sports, start endless investigations into Hillary Clinton, Hunter Biden, the FBI, the pull out in Afghanistan, repeal the Affordable Care Act, repeal the Inflation Reduction Act and enforce voter ID laws on all Americans.
Republicans have an anchor in Washed Up 45. He declared his intention to run for president and of course, it was considered a yawn. It was not the spectacle of 2015 when he descended down an escalator at Trump Tower and 2020 in the middle of a global pandemic and an impeachment trial.
The former president is also trying to starve off a handful of scandals that hurt his bid and Republicans midterm expectations. They only won a few seats and it appears the Republicans running on inflation, crime and the border are going to be thrown out.
These are the priorities Republicans want to focus on. Instead of solutions, it's blame, tarnish and troll.
Despite the noise, Biden has gotten the results.
Job growth was much better than expected in November despite the Federal Reserve’s aggressive efforts to slow the labor market and tackle inflation.
Nonfarm payrolls increased 263,000 for the month while the unemployment rate was 3.7%, the Labor Department reported Friday. Economists surveyed by Dow Jones had been looking for an increase of 200,000 on the payrolls number and 3.7% for the jobless rate.
The monthly gain was a slight decrease from October’s upwardly revised 284,000. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons edged lower to 6.7%.
The numbers likely will do little to slow a Fed that has been raising interest rates steadily this year to bring down inflation still running near its highest level in more than 40 years. The rate increases have brought the Fed’s benchmark overnight borrowing rate to a target range of 3.75%-4%.
In another blow to the Fed’s anti-inflation efforts, average hourly earnings jumped 0.6% for the month, double the Dow Jones estimate. Wages were up 5.1% on a year-over-year basis, also well above the 4.6% expectation.
The Dow Jones Industrial Average fell more than 200 points after the report as the hot jobs data could make the Fed even more aggressive. Treasury yields jumped after the news, with the two-year note, the most sensitive to monetary policy, up more than 10 basis points to about 4.36%.
“To have 263,000 jobs added even after policy rates have been raised by some [375] basis points is no joke,” said Seema Shah, chief global strategist at Principal Asset Management. “The labor market is hot, hot, hot, heaping pressure on the Fed to continue raising policy rates.”
Wins. |
Leisure and hospitality led the job gains, adding 88,000 positions.
Other sector gainers included health care (45,000), government (42,000) and other services, a category that includes personal and laundry services and which showed a total gain of 24,000. Social assistance saw a rise of 23,000, which the Labor Department said brings the sector back to where it was in February 2020 before the Covid pandemic.
Construction added 20,000 positions, while information was up 19,000 and manufacturing saw a gain of 14,000.
On the downside, retail establishments reported a loss of 30,000 positions heading into what is expected to be a busy holiday shopping season. Transportation and warehousing also saw a decline, down 15,000.
The numbers come as the Fed has raised rates half a dozen times this year, including four consecutive 0.75 percentage point increases.
Despite the moves, job gains had been running strong this year if a bit lower than the rapid pace of 2021. On monthly basis, payrolls have been up an average of 392,000 against 562,000 for 2021. Demand for labor continues to outstrip supply, with about 1.7 positions open for every available worker.
Republicans see the only path to victory is basically obstruct and complain about the president. They won't offer solutions or policies. All they care about is trying to keep folks angry with culture wars and distractions.
- The Karens in the Republican House and Senate.
- Gun violence and Congress not doing anything to stop it.
- Inflation.
- Two Democratic senators and one independent senator who is a democratic socialist.
- The members of The Squad and Progressive Caucus.
- The junk food media and their never ending dramatizing of world events.
- Anti-Vaxxers.
- Lawmakers and activists who protest the CDC guidelines during the pandemic.
- The endless culture wars that Republicans find outrage in.
- Washed Up 45 and his minions on Fox, Newsmax, OANN and the internet.
- Facebook and TikTok and the idiots who run it and the idiots who post on it.
- Fox, The Daily Mail, Newsmax and OANN's relentless talk about conspiracies, Hunter Biden, Ashley Biden and the president's mental capacity and health.
- The endless racism towards Biden's allies Vice President Kamala Harris and former president Barack Obama.
- The relentless talk about spending despite the former president's reckless things.
- The lack of civility towards fellow Americans.
Real Reasons To Why Unemployment Rate Stays The Way It Is!
- DEAD
- BORN
- THE PANDEMIC
- CLIMATE CHANGE
- IN PRISON
- IN ELEMENTARY SCHOOL
- IN MIDDLE SCHOOL
- IN HIGH SCHOOL
- IN COLLEGE NOT LOOKING
- VOLUNTEER
- DISABLED
- INFLATION
- STAY AT HOME PARENT
- RETIRED
- QUIT ON THEIR OWN
- TERMINATED FROM EMPLOYMENT
- NOT HIRING UNQUALIFIED
- NOT HIRING TOO QUALIFIED
- ACTIVE MILITARY
- NATURAL DISASTERS
- MASS SHOOTINGS DISRUPT DAILY ROUTINE
- BEING LAID OFF DUE TO CLOSING OR STAFF REDUCTION
- DESTRUCTION TO FACILITY OR PROPRETY
- OUTSOURCING JOBS TO OTHER STATES OR COUNTRIES
- BEING UNDOCUMENTED IN FEAR OF I.C.E. OR U.S. AGENCIES
- BEING PUBLICLY OUTED ON SOCIAL MEDIA DOING SHAMEFUL ACTS
- PARTICIPATING IN UNCIVIL OR VIOLENT PROTESTS
Jobs are looking good despite fears of an economic slowdown.
Companies are still trying to hire employees. With the average wages stagnant, many are not looking forward to returning to a job that pays dirt wages. Many who worked in the retail, restaurant and low end service industry are not willing to take a job for less than $10 an hour. Matter of fact, no one can survive on $15 an hour.
Republicans don't see the bigger picture itself. They rather continue to believe in conspiracies about people collecting the safety net and not going back to work.
Give them a liveable wage and maybe things might improve in the job market.
We can't always assume that folks are lazy. People are literally dying from being exposed to the coronavirus and folks are tired of the status quo of their jobs.
Many single mothers are having trouble trying to find quality daycare or family members to watch children. On top of that, some have lost family members due to the pandemic. A homemaker may have lost their spouse. Some may have no choice but to watch their children or loved ones due to the aftermath of the pandemic.
Folks are still trying to rebound from medical bills, late rent payments, owing taxes and college loans.
Republicans are white nationalists without a conscience.
Washed Up 45's presidency and Republican controlled governments killed millions of Americans. Biden has a slim majority in Congress and things can't be done with obstruction from both parties.
Holding these lawmakers accountable is not just a pledge, but a promise. You need to learn who represents your community. Your local community member, your school board member, your mayor, your state representative, your state senator, your governor, your U.S. Representative, your U.S. Senator and the president need to be held accountable for their actions.
We need to put pressure on Republicans and Democrats to do something to improve everyone's lives.
The call number to the U.S. Capitol is now going to be used. This is the official phone number, 202-224-3121. Let them know that "thoughts and prayers," "hearts going to" and "good guys with guns" are no longer acceptable and you want legislation to curb gun violence. Let them know that women deserve the right to safe medical procedures. Let them know that their failure to pass legislation to lower prices are the reasons why the economy is in a free fall.
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