Current Events > Job growth soars, earnings up, unemployment lowest in 50 years

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Purely
12/06/19 10:21:03 AM
#1:


https://www.cnbc.com/2019/12/06/us-nonfarm-payrolls-november-2019.html

  • Nonfarm payrolls surged by 266,000 in November, better than the 187,000 expected by economists polled by Dow Jones.
  • The unemployment rate ticked down to 3.5% from 3.6%, back to the 2019 low and matching the lowest jobless rate since 1969.
  • The end of the GM strike had a big effect, boosting employment in motor vehicles and parts by 41,300, part of an overall 54,000 gain in manufacturing.
  • Average hourly earnings rose by 3.1% from a year ago, slightly above the 3% expected by economists polled by Dow Jones.


Stuff like this is why Democrats constantly have to distract people with nonsense against Trump. They can't attack his record of what he's actually doing as president, because what he's doing is massively successful.
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lil_GoodOlJr_69
12/06/19 10:21:50 AM
#2:


I guess yeah
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Ilishe
12/06/19 10:23:07 AM
#3:


It was never about facts. We all know this.

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~Victory needs no explanation; defeat allows none.~
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Tmaster148
12/06/19 10:23:17 AM
#4:


Yet many people are still earning below the poverty line. The number of jobs don't matter if employers aren't paying their employees a living wage.

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#5
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Purely
12/06/19 10:26:56 AM
#6:


RedWhiteBlue posted...
Wow, I'm swimming in all this winning with my lack of money and basic human rights

Jobs are more prevalent now than they have been well beyond our lifetimes. Go out and get money. Now, what basic human rights are being denied to you??
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vigorm0rtis
12/06/19 10:28:41 AM
#7:


Lol @ thinking Trump has anything to do with this.

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#8
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MrMallard
12/06/19 10:31:22 AM
#9:


Oh, TC's Proudclad? Tagged

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Balrog0
12/06/19 10:34:35 AM
#10:


Trump pretty much has nothing to do with it, but okay. Plenty of presidents get credit they don't deserve

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Purely
12/06/19 10:36:27 AM
#11:


RedWhiteBlue posted...
Proudclad, how many times do people like Darkman have to put you in your place and shit all over these topics for how ignorant you are?

Who the fuck is Proudclad?? Not me.
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s0nicfan
12/06/19 10:37:11 AM
#12:


Balrog0 posted...
Trump pretty much has nothing to do with it, but okay. Plenty of presidents get credit they don't deserve

True, although if you go back to 2016 people were predicting that a Trump win would see the country in smoking ruins by this point, so "doing better than ever, even though it's not really his doing" is a pretty good step up from predictions.

https://www.washingtonpost.com/opinions/a-president-trump-could-destroy-the-world-economy/2016/10/05/f70019c0-84df-11e6-92c2-14b64f3d453f_story.html
https://www.theatlantic.com/business/archive/2016/05/donald-trumps-economy/481743/
https://www.economist.com/free-exchange/2016/11/09/the-economic-consequences-of-donald-trump
https://www.theguardian.com/us-news/2016/nov/10/will-trump-destroy-america
https://www.newyorker.com/news/news-desk/an-american-tragedy-2

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#13
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metralo
12/06/19 10:39:05 AM
#14:


vigorm0rtis posted...
Lol @ thinking Trump has anything to do with this.


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s0nicfan
12/06/19 10:39:37 AM
#15:


JustMyOpinion posted...
I'd love to see an underemployment number or a number reflecting those dropped out of the workforce because they can't find jobs. I bet it would be a far less rosy picture.

It's the lowest its been since he was elected
https://www.statista.com/statistics/205240/us-underemployment-rate/


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metralo
12/06/19 10:40:05 AM
#16:


s0nicfan posted...
True, although if you go back to 2016 people were predicting that a Trump win would see the country in smoking ruins by this point, so "doing better than ever, even though it's not really his doing" is a pretty good step up from predictions.

https://www.washingtonpost.com/opinions/a-president-trump-could-destroy-the-world-economy/2016/10/05/f70019c0-84df-11e6-92c2-14b64f3d453f_story.html
https://www.theatlantic.com/business/archive/2016/05/donald-trumps-economy/481743/
https://www.economist.com/free-exchange/2016/11/09/the-economic-consequences-of-donald-trump
https://www.theguardian.com/us-news/2016/nov/10/will-trump-destroy-america
https://www.newyorker.com/news/news-desk/an-american-tragedy-2

Thats because he hasnt fucking done anything. Hes given tax cuts to the ultra wealthy and increased costs to lower income. Pretty hard to fuck things up when you do nothing but golf, tweet and commit treason.

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krazychao5
12/06/19 10:41:12 AM
#17:


Economy is doing great, stock market is near all time highs, legalized sales of MJ started in Michigan, and I'm almost done with CPA exam.

Feels good man

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Ethosian
12/06/19 10:42:21 AM
#18:


vigorm0rtis posted...
Lol @ thinking Trump has anything to do with this.

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Hanky_Bannister
12/06/19 10:45:20 AM
#19:


again: seasonal work
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#20
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Solar_Crimson
12/06/19 10:48:31 AM
#21:


Tmaster148 posted...
Yet many people are still earning below the poverty line. The number of jobs don't matter if employers aren't paying their employees a living wage.


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Tmaster148
12/06/19 10:48:48 AM
#22:


Ex-Kefiroth posted...
I don't trust this administration to not be fudging the numbers on these reports somehow

They don't need to be fudging numbers. Just pretend that none of these jobs are going to people who need to work more than 1 job because 1 job does not pay them enough to get by.

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Doom_Art
12/06/19 10:48:49 AM
#23:


RedWhiteBlue posted...
Proudclad, how many times do people like Darkman have to put you in your place and shit all over these topics for how ignorant you are?
Wait @Purely is Proudclad?!?

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Rexdragon125
12/06/19 10:51:41 AM
#24:


Either proudclad or karlplikington, they both have a similar right wing capitalist crony gimmick
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s0nicfan
12/06/19 10:53:42 AM
#25:


Solar_Crimson posted...
Yet many people are still earning below the poverty line. The number of jobs don't matter if employers aren't paying their employees a living wage.

That number (percent of workers in minimum wage jobs) is also declining across the country:
https://www.bls.gov/regions/southwest/news-release/minimumwageworkers_texas.htm
https://www.bls.gov/regions/mid-atlantic/news-release/minimumwageworkers_pennsylvania.htm
https://www.bls.gov/regions/west/news-release/minimumwageworkers_idaho.htm


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Tired-Insomniac
12/06/19 10:54:41 AM
#26:


Hanky_Bannister posted...
again: seasonal work


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Tired-Insomniac
12/06/19 10:55:18 AM
#27:


It's a lot less impressive when everyone's working two or three jobs to make ends meet tbh

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Hanky_Bannister
12/06/19 10:59:46 AM
#28:


Tired-Insomniac posted...
It's a lot less impressive when everyone's working two or three jobs to make ends meet tbh

yeah this too

funny how all these trumpers dont want to acknowledge this
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Solid Sonic
12/06/19 11:00:23 AM
#29:


vigorm0rtis posted...
Lol @ thinking Trump has anything to do with this.

The Republicans called Obama the reason we pay so much for oil.

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s0nicfan
12/06/19 11:00:33 AM
#30:


Hanky_Bannister posted...
again: seasonal work

Economists predicted 187K jobs, they got 266k jobs. Presumably their predictions included seasonal work. And the actual analysis shows the jobs aren't all seasonal. You just have to read.

https://www.cnbc.com/2019/12/06/us-nonfarm-payrolls-november-2019.html
However, the job gains were spread among a multitude of sectors. Health care added 45,000 positions after contributing just 12,000 in October.
Leisure and hospitality increased by 45,000 and professional and business services rose by 31,000; the two sectors respectively are up 219,000 and 278,000 over the past 12 months. Wage gains also were a touch better than expectations.
Average hourly earnings rose by 3.1% from a year ago, while the average workweek held steady at 34.4 hours.

In fact, seasonal hiring itself was actually DOWN compared to past years:
The news was not all good. As the holiday shopping season accelerated, retail companies added just 2,000 net hires as gains in general merchandise of 22,000 and motor vehicle and parts dealers of 8,000 were offset by an 18,000 loss in clothing and clothing accessories.


So these are real jobs numbers, not Christmas retail hires.

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MudKip_Master
12/06/19 11:00:58 AM
#31:


Thanks Trump!
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s0nicfan
12/06/19 11:02:36 AM
#32:


Tired-Insomniac posted...
It's a lot less impressive when everyone's working two or three jobs to make ends meet tbh

Do you have any sources for this? Because I'm seeing a lot of claims in this topic that are just flat out objectively wrong when fact checked against even a basic google search.

Watch... let me take 10 seconds:
https://www.marketwatch.com/story/kamala-harris-says-people-are-working-
multiple-jobs-in-trump-economy-its-no-different-now-than-under-obama-2019-06-28
The Bureau of Labor Statistics tracks multiple jobholders every month and no, they havent changed much under President Trump or for that matter, President Obama.\

Oh look at that... more bullshit!

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SK8T3R215
12/06/19 11:03:44 AM
#33:


Balrog0 posted...
Trump pretty much has nothing to do with it, but okay. Plenty of presidents get credit they don't deserve

THIS! GREAT POST!

[LFAQs-redacted-quote]


That's the U-6 unemployment rate. It's been declining over the last decade and is at 6.9% (nice) in November.


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Purely
12/06/19 11:04:28 AM
#34:


Rexdragon125 posted...
Either proudclad or karlplikington, they both have a similar right wing capitalist crony gimmick

I'm not anybody. I barely even talk about politics.
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Ethosian
12/06/19 11:04:55 AM
#35:


Rexdragon125 posted...
Either proudclad or karlplikington, they both have a similar right wing capitalist crony gimmick
karlpilkington is Funbazooka
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Tmaster148
12/06/19 11:06:28 AM
#36:


Purely posted...
I'm not anybody. I barely even talk about politics.

Of course you don't. That's why you made this topic.

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krazychao5
12/06/19 11:07:47 AM
#37:


Tmaster148 posted...
Of course you don't. That's why you made this topic.
It's about economics...

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Purely
12/06/19 11:08:18 AM
#38:


Tmaster148 posted...
Of course you don't. That's why you made this topic.

Yeah I made it because it's really good job numbers. I don't have to be a fucking shill gimmick to talk about real current events. It's really like you live in this fantasy world and anyone who doesn't immediately discredit anything positive for Trump must just be a troll. It's fucking pitiful.
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Ethosian
12/06/19 11:09:39 AM
#39:


krazychao5 posted...
It's about economics...

Purely posted...
Stuff like this is why Democrats constantly have to distract people with nonsense against Trump. They can't attack his record of what he's actually doing as president, because what he's doing is massively successful.
No. Its not.
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Tmaster148
12/06/19 11:10:31 AM
#40:


krazychao5 posted...
It's about economics...


Purely posted...
Stuff like this is why Democrats constantly have to distract people with nonsense against Trump.

Totally just about economics.

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Tired-Insomniac
12/06/19 11:10:41 AM
#41:


s0nicfan posted...
Do you have any sources for this? Because I'm seeing a lot of claims in this topic that are just flat out objectively wrong when fact checked against even a basic google search.

Watch... let me take 10 seconds:
https://www.marketwatch.com/story/kamala-harris-says-people-are-working-
multiple-jobs-in-trump-economy-its-no-different-now-than-under-obama-2019-06-28

Oh look at that... more bullshit!

You can read articles that are made to make things look better or you could go outside and actually pay attention to the world around you.

It's anecdotal but almost every single person I know is working at least two jobs. In a city where the cost of living isn't even that bad. Everyone's Ubering, Doordashing, Lyfting, etc.

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MudKip_Master
12/06/19 11:10:41 AM
#42:


Tmaster148 posted...
Yet many people are still earning below the poverty line. The number of jobs don't matter if employers aren't paying their employees a living wage.

Its only around 14%, everyone else has decent to really food jobs.

Dunno why some always try to troll economic topics like this.
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#43
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Rexdragon125
12/06/19 11:14:28 AM
#44:


Because the government hasn't changed the definition of poverty in decades while the cost of living has gone up
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MudKip_Master
12/06/19 11:15:51 AM
#45:


Hairistotle posted...
If things are going so great why does everyone around me seem to be doing worse? My friends are getting let go left and right and having to work in fucking Macy's and stop and shop in their late 20s and early 30s. You're telling me this is just happening in my little pocket of society?

Where do you live? Anecdote Town on the Rust Belt?
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s0nicfan
12/06/19 11:17:19 AM
#46:


Hairistotle posted...
If things are going so great why does everyone around me seem to be doing worse? My friends are getting let go left and right and having to work in fucking Macy's and stop and shop in their late 20s and early 30s. You're telling me this is just happening in my little pocket of society?

You're perfectly free to say "my area is suffering" but if you or others are going to make claims about "the economy" or "the country" and every piece of collected data objectively shows you're wrong, you can't then fall back on "well yea, but I know some people who are struggling" as some sort of overriding evidence. In no other situation would you accept anecdotal evidence as proof of some sort of trend if it went directly against the established data.

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Tired-Insomniac
12/06/19 11:18:49 AM
#47:


Where are the reports about cost of living increases?

Like who gives a shit if earnings are up 2% if average rent went up 6%

Back when I was renting I got a raise that was about $60/month extra. Then the next month my lease renewed and it was $80/month higher. That shit happens everywhere.

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#48
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s0nicfan
12/06/19 11:22:39 AM
#49:


Hairistotle posted...
I'm not making claims I'm asking questions. I live on Long Island

Then the answer to your question ("You're telling me this is just happening in my little pocket of society?") is "yes" based on all the data available. But if you're looking for more information, Long Island tracks its own labor statistics:
https://labor.ny.gov/stats/lon/index.shtm

If your area is doing particularly poorly, perhaps the problem is local politicians and not some federal policy issue.

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Ethosian
12/06/19 11:22:39 AM
#50:


Hairistotle posted...
I'm not making claims I'm asking questions. I live on Long Island
Probably because, as Trump claimed Obama did, his administration is cooking the books to look better.
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