US Economy Blows Past Expectations With 528,000 New Jobs In July

[Economy 52,846]

https://www.google.ca/amp/s/www.cbc.ca/amp/1.6542284

 

The US economy added 528,000 new jobs in July and the unemployment rate is at 3.5%

 

Analysts were expecting less than half that number of 250,000

 

This makes what was already highly anticipated now nearly certain that the Fed will increase interest rates at the next meeting by at least 0.5%

[Economy 52,846]

I suspect many ppl who were shopping around for jobs to see what they could get started getting scared with all the increasing recession talk and decided to take one quickly before it was too late and things turned

 

It's just a theory but I wouldn't be surprised if that's why it was so much higher than anticipated 

[Guest]

When will France 

[Economy 52,846]

9 minutes ago, AnnaNicoleSmith said:

When will France 

Hasn't France struggled with Unemployment for many years now?

[Guest]

1 minute ago, Economy said:

Hasn't France struggled with Unemployment for many years now?

Yeah that's what I mean, when will we ever achieve this, even if it doesnt seem good, the unemployement rate in France is in the 7 to 8% 

[Economy 52,846]

5 minutes ago, AnnaNicoleSmith said:

Yeah that's what I mean, when will we ever achieve this, even if it doesnt seem good, the unemployement rate in France is in the 7 to 8% 

To be fair most Nations can never reach the US official Rate cuz of the way they measure it

 

For example here in Canada because we track unemployment from a younger age (15 vs 16 and youth unemployment is always higher), and we also count unemployed ppl looking for work thru agencies etc but that are long term unemployed and expired their benefits (the US doesn't count those anymore) we get about 1% higher than the US for the exact same market according to analysts...

 

So our unemployment in Canada is 4.9% rn but if it was measured the American way it would be more like 3.9%. Also our labor force participation rate is slightly higher than the US so u could argue that makes up for the remaining 0.4% gap and our job market is just as hot

 

 

[Guest]

6 minutes ago, Economy said:

To be fair most Nations can never reach the US official Rate cuz of the way they measure it

 

For example here in Canada because we track unemployment from a younger age (15 vs 16 and youth unemployment is always higher), and we also count unemployed ppl looking for work thru agencies etc but that are long term unemployed and expired their benefits (the US doesn't count those anymore) we get about 1% higher than the US for the exact same market according to analysts...

 

So our unemployment in Canada is 4.9% rn but if it was measured the American way it would be more like 3.9%. Also our labor force participation rate is slightly higher than the US so u could argue that makes up for the remaining 0.4% gap and our job market is just as hot

 

 

That's interesting, idk how France counts it. But I think we have a different culture here and it's my theory that because of the heaviness of government aid, it creates more inactivity. For example, for someone who earns a lot of gov aid for having 3 kids + RSA (monthly allowance/500 euro) + other aids, they can earn a full salary. Why bother finding work? That's a situation a lot of people end up in. A lot don't bother because why? Only an insane person would. I think Macron must think about that bcs he tries to change RSA a bit lately...where u'll have to work in a charity and stay active 

[Dojo 19,823]

keep this energy USA

[Economy 52,846]

19 minutes ago, AnnaNicoleSmith said:

That's interesting, idk how France counts it. But I think we have a different culture here and it's my theory that because of the heaviness of government aid, it creates more inactivity. For example, for someone who earns a lot of gov aid for having 3 kids + RSA (monthly allowance/500 euro) + other aids, they can earn a full salary. Why bother finding work? That's a situation a lot of people end up in. A lot don't bother because why? Only an insane person would. I think Macron must think about that bcs he tries to change RSA a bit lately...where u'll have to work in a charity and stay active 

I don't know about the details of how you count it either but I do remember someone on Quora or Redit saying France also counts more of the long term unemployed (like Canada does). If u measured it the American way it would probably be below 7% at least

 

The way the US measures unemployment is very dishonest imo. It always gives a much lower number than it actually is

 

We have decent child benefits here too (not that high tho) but u get them regardless of working so ppl still work (although the benefits are increased for low income earners but usually it's not enough to live off of them alone)

[KORG 4,756]

This is going to be SO good for the primaries and getting rid of some fascists.