Massive jobs surprise: US economy added 528,000 jobs in July

https://edition.cnn.com/2022/08/04/economy/monthly-jobs-report-preview-july/index.html

“The US economy has now regained all jobs lost during the pandemic, after a blowout July jobs report that showed a gain of 528,000 jobs, according to data released Friday by the Bureau of Labor Statistics.

The massive monthly gain was more than double the 250,000 that economists were expecting, according to Refinitiv.
The unemployment rate ticked down to 3.5% after holding at 3.6% for the past four months. The July jobless rate matched the half-century low last seen in February 2020.”

So … a huge number of new jobs, back to employment levels pre-Covid, and unemployment down again - matching the 50-year record.

Well done Joe Biden.

 

Not so fast partner.

Although strong job gains could be good for the economy now, it could mean higher inflation rates in the long term.

This comes as inflation is already at a 40-year high in June, when the Consumer Price Index (CPI) increased 9.1% annually.

"While this number drives at least one spike into the heart of near-term recession fears, in turn, it will throw fuel back on the fire of concerns regarding higher inflation and interest rates," Vanneman said. "For example, wage growth continues to move sharply higher, as average earnings jumped 0.5% last month and is now up 5.2% over the last year. What may be good for the economy near-term, may not be so good for asset prices."

"This remains one of the strongest job markets in the past 50 years, no comfort for those hoping for a slowdown which would reduce inflation and lead to a less aggressive path of rate hikes from the Federal Reserve," Mike Fratantoni, Mortgage Bankers Association (MBA) senior vice president and chief economist, said in a statement.

 

Yeah great job

 

Whiners gonna whine…

Getting everyone back to work.
Gas prices continuing to fall.

But the sky is falling….!!

 

So you think it would be better if there were fewer jobs created in July?

 

My investments did damn good in July also.
Let’s go Brandon!

 

For republicans it would definitely be better if jobs were going down

 

The job market is so strong, the economic downturn we are experiencing will not last more than 4 months.

Just enough to bring inflation down to a reasonable level.

 

Are you ahead for the year?

 

You think we were born yesterday? Gas prices are falling because midterms are approaching. If, and that’s a a big “if”, Democrats retain power at midterms, the gas prices will go right back up. You can see thru this garbage a mile away.

 

Hahahahaha….!

Like I said….whiners gonna whine…..!

 

It's a conspiracy.

 

They’re praying for America to fail bigly.

 

What a complete load of twaddle.
Here in the UK, gasoline prices have also gone down about 50 cents per gallon in a few days.
You know nothing about the price of oil.

 

What makes you an expert?

 

LOL

Just because you say it doesn't make it true.

However, when Trump was president we actually have many lefties on video saying they hoped for the economy to get worse to lessen his chances of winning. So you can spout off this unsubstantiated talking point, but it's actually an accurate description of the left.

Also, Americans are getting crushed by inflation so it damn sure isn't winning right now.

Plus, lefties can try to polish this turn economy all they want, but polls show how americans feel right now and it isn't good.

 

Are you actually naive enough to think that Biden is saved? LMFAO

 

Were you one of the people who were convinced that Trump would win in 2020?

 

Please produce those videos.

 

Can you find where I said that? Answer: No you can’t. I was well aware that 2020 was a toss-up.

 

“He did win..!!!” in 5..4...3..

 

Boy, talk about carrying water for the administration.

 

The job market has nothing to do with inflation if anything people are jumping at the high wages thinking in a few months we'll return to a Trump economy. That is not going to happen with Trump or without.
New hires are good because it helps the treasury because every one working is paying taxes and not on the dole. The "downturn" as Biden puts it, is not a standard recession I will give Biden that. But it is a steady GDP supported by inflation. As they say "There is a lot of wind under that skirt". Companies are still cutting back on the workforce and you will see an increase in businesses closing. The Buy America efforts of Trump have pretty much gone back to China and I don't see much support for "buy American" even if it costs more.

 

And yet every store or restaurant or airport or airlines or all other service oriented establishments are short staffed. Still over 10 million job openings.

 

Also remind him what Republicans were saying after Obama was elected.