Today's unemployment report is out and it was a huge miss from the DJI's expectations of 422,000 jobs. There was some good news in that wages rose .6% and were up 4.7% year over year: As the analyst cited in the article observed, the new year is off to a rocky start....
all the corporate mergers the last few years, the corps trimmed the fat and used covid as the excuse, those jobs are not coming back they been outsourced overseas
A business can manufacture a polo shirt in India for $2 per unit all in materials, labor, imported and stocked. $2 boom and done. The same shirt costs $53 to make in America after paying for health insurance, vision insurance, dental insurance, paid time off, retirement savings, maternity and paternity leave, racial sensitivity programming, about 100 different state and federal taxes, misc union demands, and a whole host of other fees racked up by the time the shirt hits a retailer. The only way America will ever become a producer again is when robotics do everything. Except when that happens Democrats will demand the robot labor is taxed in order to pay for people to sit home and do nothing aka UBI. So the shirt will still cost $53 except, no wait, I forgot to factor in Democrat inflation so a shirt could cost several hundred of dollars to make by that time - assuming the country survives which I doubt it will.
agree, the latest jobs to go overseas are IT jobs and Customer Service jobs AI is going to replace even more jobs the reality is, Capitalism is gonna die under these conditions this is our future,
Capitalism is going to die because there is no infinite market expansion capability and stagnation is the usual result...I guess they'll need a war to start over.
other countries will be buying stuff too as they steal our jobs, but eventually even they will be replaced by AI and Robotics your correct though, that is the other direction things could go, back to the dark ages for awhile
Expect those numbers to be revised upwards later on, as usual... https://www.marketplace.org/2021/11/18/the-economy-is-adding-more-jobs-than-reports-first-reflect/
Rightists & trumpists will call the revised numbers fake news and claim the the current numbers today are gospel.
Interest rates are going up soon in order to slow demand to fight inflation. Nothing like being eight months late. Slowing businesses need fewer new hires.
We, by which I mean this country, has no future Fresh. These modernist concepts of a post-capitalist world will never be achieved because of the one thing they skip over: the absolute anarchy and total destruction that imminently follows the collapse of capitalism.
maybe, I know which I prefer, but many on the right may fight that... consider it socialism and prefer what you describe instead
Rising wages and lowering unemployment. Is this the winning trump said we’d get tired of? let’s go Brandon!
Only a fool would draw conclusions from ONE MONTH’S NUMBERS. This is why economists annualise sets of economic data to determine trends….
At some point alot of jobs are going to be irrelevant. Jobs that already are being phased out, perhaps more quickly due to covid. AI, computers, machines, etc...are going to phase out alot of jobs over the next couple decades or more. So I am curious as to what is to be done with this?
Not likely. It won't be because of capitalism it'll be because of government. The US started out as mostly an agricultural economy in the colonial era and into the early 19th century. The country began innovating it began creating early life cycle goods like textiles refined steel and iron. It later moved to manufacturing late life cycle goods. I'm sure on the cusp of every one of these changes there are people saying the country is going to collapse if most people aren't farmers everyone's going to start to death most people don't work in clothing factories the us is going to go bankrupt. What happens in a meritocracy is people innovate. As it stands the country is hurting for truck drivers restaurant workers and various other moderately skilled jobs. The thing standing in the way of these jobs being filled is government.
Yo... The Democrats have been whining all day because the media won't propagandize the fabricated ADP numbers as opposed to the BLS report. These F-ers are desperate for Biden to scratch some kind of accomplishment that he's done nothing to facilitate. His Presidency is literally a series of him taking credit for Trumps accomplishments. If it wasn't for the whole WMD thing, we would be the worst President in my lifetime. Even setting up the withdrawal from Afghanistan he tried to steal from Trump after he F-ed up the execution, and left the Taliban with so many weapons that I'm not even sure it was intentional. Oh and then they started to prop up this ISIS-K nonsense that no one believed cause you can't be credible journalist if you work for CNN.
Only a fool does not look at the complete picture.. How is someone returning to work after being mandated closed a created job?
We can't even build the F-ing infrastructure or industries for Green Energy cause Democrats keep F-ing around with these precious metals. We have Graphite in this country, but there's small supply. Why? We have no chance because the Democrats are still too inept. These A-Holes are have no idea how to create the green energy infrastructure without getting hoodwinked by Foreign Corporations that bribing the Biden and Kerry family in China.
For them it's not about green energy it's about scratching each other's backs. Anything they do and this goes for Republicans as well anything they do with regard to the private sector is to benefit somebody at the expense of others. It's basically what government has been doing for millennia. They'll do it through subsidies they'll do it through regulations they want to pick winners and losers.
The job report seems like it was totally fabricated, and the over-estimation by AMD was meant to hoodwink the American into believing Biden had done something of note. These guys are getting very desperate for some kind of win, because Biden is now underwater in every state except MA, VT, and MD.
just like jobs for horses were replaced, jobs for people are being replaced.... if there is not enough good jobs for people, society collapses