US Economy Adds 353,000 Jobs In January

[Economy 53,084]

https://www.bnnbloomberg.ca/u-s-employers-added-surprisingly-robust-353-000-jobs-in-january-1.2030002

 

In a surprising resilience, the US econony added 353,000 jobs this month.

 

Unemployment stayed flat at 3.7%. 

 

Continued data to the upside has cast doubts on whether or not an expected mikd recession will happen at all.

[FameMonster01 7,208]

the way you single handedly invented economy... 

[FATCAT 60,935]

Looks like that soft landing is coming true. Thank god.

[Economy 53,084]

16 minutes ago, FATCAT said:

Looks like that soft landing is coming true. Thank god.

Well the US is running massive deficits. If that stimulus didnt keep economy in at least half decent shape id be concerned

 

A lot of dooms dayers thought high interest rates would collapse the economy...

 

They forget that the US consumer is not overly indebted by developed world standards and also the US mortgage market commonly uses 30 year fixed rates insulating a lot of borrowers from the hikes.

 

Here in Canada most mortgages are variable, or if fixed is usually in 3-5 year terms and as such the economy is more rate change sensitive because refinancing happens more frequently

[Snorlax 6,387]

I have two jobs to survive in this economy 

[thedirtymonster 791]

8 minutes ago, Snorlax said:

I have two jobs to survive in this economy 

Girl, that's because your employer isn't paying you enough. That's corporate greed. It's got to go. You should go find yourself a good union job.

Bidenomics is working. It's crazy that the Republicans have been so able to convince people otherwise.

[Red 99,494]

Now the twitter stans can finally have a job 😭

[Awakened M 3,269]

These so-called influencers and full-time vloggers need a career change. 

[Economy 53,084]

4 hours ago, thedirtymonster said:

Girl, that's because your employer isn't paying you enough. That's corporate greed. It's got to go. You should go find yourself a good union job.

Bidenomics is working. It's crazy that the Republicans have been so able to convince people otherwise.

Whats that? What major overhaul to the system or policy has he done?

 

So far this growth appears more t( do with stimulus spending (which is not sustainable forever)

 

Anytime u run a deficit of 5% of GDP or more u should easily have solid economic growth. Problem is it wont last forever cuz its not sustainable

 

PS: Not to say i dont approve of some of the infrastructure investments especially green ones as the environment needs it

[Emvee 8,858]

1 hour ago, Economy said:

Whats that? What major overhaul to the system or policy has he done?

 

So far this growth appears more t( do with stimulus spending (which is not sustainable forever)

 

Anytime u run a deficit of 5% of GDP or more u should easily have solid economic growth. Problem is it wont last forever cuz its not sustainable

 

PS: Not to say i dont approve of some of the infrastructure investments especially green ones as the environment needs it

Well it’s essentially just a little protectionism lol. The US will need to continue that type of spending until supply chains have developed to a sustainable level outside of China. I think that’s a good thing. Not saying China is completely out of the picture, just that supply chains will be more spread out. I guess that’s part of what has been causing such an inflationary environment aside from global conflict as Not sure if it’s true, but I’ve heard a lot of talk about manufacturing coming back to North America. I’m assuming that’s part of the strong jobs growth. 

[LilMonst3r 5,688]

7 hours ago, Economy said:

Well the US is running massive deficits. If that stimulus didnt keep economy in at least half decent shape id be concerned

 

A lot of dooms dayers thought high interest rates would collapse the economy...

 

They forget that the US consumer is not overly indebted by developed world standards and also the US mortgage market commonly uses 30 year fixed rates insulating a lot of borrowers from the hikes.

 

Here in Canada most mortgages are variable, or if fixed is usually in 3-5 year terms and as such the economy is more rate change sensitive because refinancing happens more frequently

[Economy 53,084]

2 hours ago, Emvee said:

Well it’s essentially just a little protectionism lol. The US will need to continue that type of spending until supply chains have developed to a sustainable level outside of China. I think that’s a good thing. Not saying China is completely out of the picture, just that supply chains will be more spread out. I guess that’s part of what has been causing such an inflationary environment aside from global conflict as Not sure if it’s true, but I’ve heard a lot of talk about manufacturing coming back to North America. I’m assuming that’s part of the strong jobs growth. 

There has been some manufacturing coming back but thats more of a gradual long term thing. It wouldnt explain short term strong job gains. I think this has more to do with stimulus and cyclical economic stages.

 

But regarding manufacturing... rising wages in China, high productivity in the US and an ever declining labor intensity in many industries (due to automation) making labor costs a lower factor, many companies have re-evaluated if its really worth having so much production overseas and some have come back

 

But it depends on the industry. Cheap clothing still wouldnt be competitive in the US. But higher valued stuff like furniture, machinery etc in many cases can be. Its just depends. Not necessairily a bad thing either, its fine to still buy some cheap stuff from abroad to save labor for better value added things

 

So yeah the US has done well lately with competitiveness and productivity but i wouldnt place too much credit on Biden. A lot of it has to due with factors and trends not directly tied with him

 

He has helped SHORT term growth a lot with his spending but how much impact is permanent from the investments will need to be seen later once the taps are turned off. Again, anyone can boost the economy with more spending, thats not hard to do

[ALGAYDO 35,383]

8 hours ago, Snorlax said:

I have two jobs to survive in this economy 

Start an OF 

[Economy 53,084]

12 hours ago, ALGAYDO said:

Start an OF 

Whats that?

[Gagaism 12,487]

1 hour ago, Economy said:

Whats that?

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