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November Employment Report Shows U.S. Economy Added 263,000 Jobs - WSJ

  

Category:  News & Politics

Via:  vic-eldred  •  2 years ago  •  99 comments

By:   Sarah Chaney Cambon (WSJ)

November Employment Report Shows U.S. Economy Added 263,000 Jobs - WSJ
Jobless rate remains at 3.7%, sign of continued strength in the labor market

S E E D E D   C O N T E N T



The U.S. economy added 263,000 jobs in November and the jobless rate remained at 3.7%, signs of continued strength in the labor market.

The November payrolls gain compared with an upwardly revised 284,000 jobs in October, the Labor Department said Friday. Payrolls grew in leisure and hospitality, healthcare and government. Retailers and transportation-and-warehousing companies cut jobs in a sign of weak holiday hiring.
Average hourly earnings grew 5.1% in November from a year earlier, the department said. Wage growth has remained elevated but roughly stable after a sharp increase earlier in the year.
November job growth was roughly in line with the previous three months, when payrolls grew an average of 282,000 a month. Job growth continues to exceed the 2019 monthly average of 164,000, though gains have slowed from the first half of the year.

The job market  has remained resilient  this year, with employers still seeking to hire despite an uncertain economic outlook and elevated recession fears. Low unemployment and wage gains  have helped fuel consumer spending , the economy’s main engine.

One big question is how long that strength can last as the Federal Reserve aggressively raises interest rates to tame inflation. Some companies in technology, entertainment and real estate  are laying off workers , but  demand for workers continues to outpace  the number of unemployed people looking for work.

Economists are concerned that higher interest rates will trigger more widespread layoffs and a recession in the next year, as has typically occurred during prior episodes of rapid rate rises. They are closely monitoring the pace of hiring for early signs of shifts in labor-market momentum.

“An employer is going to start reducing hiring long before they start letting go of their existing workforce,” said Guy Berger, principal economist at LinkedIn. “That’s the first lever.” 

Rising unemployment could follow, he said, as job seekers have fewer available opportunities. Continuing claims, which reflect the number of people seeking ongoing unemployment benefits, are drifting upward in a sign of labor-market cooling, Mr. Berger said. 

On Wednesday, Federal Reserve Chair Jerome Powell indicated the central bank is on track to raise interest rates by a half-percentage point at its next meeting, scaling back from an  unprecedented series of four 0.75-point rate rises . Fed officials are hoping higher rates will trigger less competition for workers and slower wage increases, taking some pressure off consumer prices. 

This week, CNN said it  was laying off employees  and  DoorDash  Inc. said it would trim its corporate staffing levels by about 1,250.  AMC Networks  Inc. said in a memo to employees that it  plans to lay off about 20% of its U.S. workforce

Corporate layoff announcements generally have been concentrated in the technology industry and sectors of the economy sensitive to interest rates such as housing and finance. Other businesses are quickly scooping up laid-off workers as job openings remain well above prepandemic levels, even in sectors such as real estate.

LodeStar Software Solutions, a small software company that helps mortgage lenders accurately disclose fees to consumers, recently posted an opening for a customer-service role, said Jim Paolino, chief executive of the Conshohocken, Pa.-based company.

Mr. Paolino quickly received about 130 résumés for the job, which entails account management. He held screening calls with 10 applicants, eight of whom had lost their jobs at mortgage companies. 

“It’s actually a great time to hire right now,” he said. “There has been an influx of talent in our industry and to the market because a lot of larger companies have done pretty large-scale layoffs.”

Companies are still largely avoiding job cuts because demand for goods and services is solid.  Personal spending increased 0.8%  from the prior month, the Commerce Department said Thursday. 

Some firms also are hesitant to lay off employees because they found it so difficult to rehire as the economy recovered from the pandemic downturn.

“Demand restarted, and they couldn’t hire fast enough,” said Becky Frankiewicz, president and chief commercial officer of staffing firm  ManpowerGroup . “There’s still this aftershock of, ‘I want to hold on to the talent that I have.’”

Companies are still offering hiring bonuses to attract talent, but the rationale has shifted some from a year ago. Employers are expecting inflation to come down and bonuses give them more flexibility to dial back compensation than wage increases do, she said. 

“If you still have a talent shortage and you don’t want to lock in at higher wages across all your roles, what do you do? You do bonuses,” Ms. Frankiewicz said.





Wage growth has cooled in recent months but remains above the prepandemic pace.





Still, there are signs that spending could be reaching a limit, with some Americans dipping into savings or taking on credit-card debt to finance purchases. The personal-saving rate was 2.3% in October, its lowest level since 2.1% in July 2005.

David Blake, president of Iowa-based Blue-9 Pet Products, said sales have been roughly flat this year, a shift from previous years when the 10-person manufacturer and seller of dog-training accessories posted double-digit sales growth. 

Pet owners appear to be cutting back on some discretionary purchases as they face higher prices for staples like groceries, he said.

“Whether we’re in a recession or going to have a recession or not, the fact still remains that the inflation out there is having an impact on spending,” said Mr. Blake.


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Vic Eldred
Professor Principal
1  seeder  Vic Eldred    2 years ago

Some good news there for the nation.

 
 
 
JBB
Professor Principal
2  JBB    2 years ago

Inflation is easing, employment is booming, wages are growing, the markets are recovering, the housing crisis is improving and our budget deficit is lower by a trillion dollars this year alone. Things are looking up for everyone. The gop says, "Woe is me!"

original

 
 
 
Vic Eldred
Professor Principal
2.1  seeder  Vic Eldred  replied to  JBB @2    2 years ago
Inflation is easing, employment is nonexistent, wages are growing, the markets are recovering, the housing crisis is improving and our budget deficit is lower by a trillion dollars this year alone.

Why do I feel like I should be under the covers ready for a bedtime story?

 
 
 
JBB
Professor Principal
2.1.1  JBB  replied to  Vic Eldred @2.1    2 years ago

My comment is of the nonfiction variety...

 
 
 
Just Jim NC TttH
Professor Principal
2.1.2  Just Jim NC TttH  replied to  JBB @2.1.1    2 years ago

I don't think so. It isn't any more nonfiction than the last 6 times you posted it.

 
 
 
Ozzwald
Professor Quiet
2.1.3  Ozzwald  replied to  Just Jim NC TttH @2.1.2    2 years ago
I don't think so. It isn't any more nonfiction than the last 6 times you posted it.

So post some verifiable facts to rebut it.  "I don't think so" does not qualify as a rebuttal.

 
 
 
Snuffy
Professor Participates
2.1.4  Snuffy  replied to  JBB @2.1.1    2 years ago

But lacking context

 
 
 
Sparty On
Professor Principal
2.2  Sparty On  replied to  JBB @2    2 years ago

And we all are getting a great deal on everyday goods and services that still cost significantly more than two years ago but a little bit less than a few months ago.

Nitwits rejoice. 

 
 
 
JBB
Professor Principal
2.2.1  JBB  replied to  Sparty On @2.2    2 years ago

As Covid supply issues are easing and the economic effects of Putin's War in Ukraine are waning things are finally getting better!

 
 
 
Sparty On
Professor Principal
2.2.2  Sparty On  replied to  JBB @2.2.1    2 years ago

[Deleted]

 
 
 
JBB
Professor Principal
2.2.3  JBB  replied to  Sparty On @2.2.2    2 years ago

No, just look outside your bubble and see!

Things are finally looking up after Trump...

 
 
 
Sparty On
Professor Principal
2.2.4  Sparty On  replied to  JBB @2.2.3    2 years ago

Funny .... huge belly laugh ....... thx!

 
 
 
Ronin2
Professor Quiet
2.3  Ronin2  replied to  JBB @2    2 years ago

The only thing Americans are praying for is relief from Brandon the human fuck up machine in the White House. Two more years of this administration's bullshit; and Democrat denial; is far too long!

 
 
 
JBB
Professor Principal
2.3.1  JBB  replied to  Ronin2 @2.3    2 years ago

No, that is incorrect, or was Nov 8th a fluke?

 
 
 
Ronin2
Professor Quiet
2.3.2  Ronin2  replied to  JBB @2.3.1    2 years ago

Nov 8th will go down as one of the dumbest days in US history. Where the party that drove the US into a ditch in two short years was rewarded; after the POTUS threatened to use the US military against anyone that didn't agree with him twice in speeches. 

Tin horn dictators everywhere took notes for the next time Brandon opened his mouth to criticize them. 

 
 
 
JBB
Professor Principal
2.3.3  JBB  replied to  Ronin2 @2.3.2    2 years ago

Yet, things were in the crapper in 2020...

 
 
 
Ronin2
Professor Quiet
2.3.4  Ronin2  replied to  JBB @2.3.3    2 years ago

According to leftist loons Trump caused the world wide pandemic. Despite all of the massive evidence of it originating in China; and hitting Europe and Africa first before traveling to the US. 

TDS is a wonderful thing; and even with Trump out of office there is no cure! It allows the inflicted to live in Bizarro World; where up is down; left is right; and Brandon and the Democrats didn't drive this country into a ditch!

 
 
 
pat wilson
Professor Participates
2.3.5  pat wilson  replied to  Ronin2 @2.3.2    2 years ago
threatened to use the US military against anyone that didn't agree with him twice in speeches. 

Can you provide links for that ?

 
 
 
Just Jim NC TttH
Professor Principal
2.3.6  Just Jim NC TttH  replied to  pat wilson @2.3.5    2 years ago

Here is one.

And if you listen to the video, the narrator says it is the third time he said the US would use military to defend Taiwan.

 
 
 
pat wilson
Professor Participates
2.3.7  pat wilson  replied to  Just Jim NC TttH @2.3.6    2 years ago

I could be wrong but I don't think Ronin was referring to international policies.

 
 
 
Just Jim NC TttH
Professor Principal
2.3.8  Just Jim NC TttH  replied to  pat wilson @2.3.7    2 years ago

You're probably right. Try this article............

 
 
 
JBB
Professor Principal
2.3.9  JBB  replied to  Ronin2 @2.3.4    2 years ago

Caused? No, but he made it worse than it should have been for political reasons...

 
 
 
pat wilson
Professor Participates
2.3.10  pat wilson  replied to  Just Jim NC TttH @2.3.8    2 years ago

To say he threatened Americans with military force is a stretch.

 
 
 
Greg Jones
Professor Participates
2.4  Greg Jones  replied to  JBB @2    2 years ago

The economy is recovering nicely on its own, despite Biden's disastrous policies

 
 
 
Sparty On
Professor Principal
2.4.1  Sparty On  replied to  Greg Jones @2.4    2 years ago

Well, six fed rate increases in less than a year might have something to do with it.    To the tune of nearly 4 full points.

Thank God the Fed is completely independent from the boob in the Executive office 

 
 
 
Jeremy Retired in NC
Professor Expert
2.5  Jeremy Retired in NC  replied to  JBB @2    2 years ago
Inflation is easing, employment is booming, wages are growing, the markets are recovering, the housing crisis is improving and our budget deficit is lower by a trillion dollars this year alone

And none of it is to the level it was at when the human fuck up took office.  

 
 
 
JBB
Professor Principal
2.5.1  JBB  replied to  Jeremy Retired in NC @2.5    2 years ago

No, that is not how it works. Global inflation was caused by Covid spending and supply chain issues plus Putin's War in Ukraine...

Ours was compounded by Trump's and the gop's reckless tax cuts and wild spending during good economic times making it impossible to do anything but what Biden and the Democrats are doing by cutting the budget deficit and raising interest rates...

The reason the last twelve month measure of inflation dropped from 8.7% in Sep to 7.7% in Oct is because there was negligible increase in October. Gas is down, rents decreasing, home and car prices dropped.

Just admit it. Things are already improving!

 
 
 
Sparty On
Professor Principal
2.5.2  Sparty On  replied to  JBB @2.5.1    2 years ago
Just admit it. Things are already improving!

Yes they are, as defined by 2.2 above.

Apply liberally, lather, rinse and repeat as necessary.....

 
 
 
Drinker of the Wry
Junior Expert
2.5.3  Drinker of the Wry  replied to  JBB @2.5.1    2 years ago
Gas is down, rents decreasing, home and car prices dropped.

Gas is down, I don't know about car or home purchase prices, I'm certain that when the cost of borrowing is factored into these large purchases, the overall cost is higher.

This week, Federal Chairman Powell said that they will continue raising interest rates to fight inflation but at a slower pace.  Powell said that despite a recent slowdown in price growth, officials are looking for “substantially more evidence to get comfort that inflation is actually declining".

 
 
 
Jeremy Retired in NC
Professor Expert
2.5.4  Jeremy Retired in NC  replied to  JBB @2.5.1    2 years ago
Just admit it. Things are already improving!

Improving would be an improvement from pre-Biden levels (no matter how you spin it).  This isn't improving at all.

 
 
 
JBB
Professor Principal
2.5.5  JBB  replied to  Jeremy Retired in NC @2.5.4    2 years ago

Then why don't we go back to pre-trump or pre-Obama? Why didn't Trump turn inflation back to the Eisenhower Era?

 
 
 
JBB
Professor Principal
2.5.6  JBB  replied to  Jeremy Retired in NC @2.5.4    2 years ago

If inflation is easing and employment is booming and the stock market improving and wages are rising and supplies are mounting and and gas prices are going down then that is by definition improving.

 
 
 
Drinker of the Wry
Junior Expert
2.5.7  Drinker of the Wry  replied to  JBB @2.5.1    2 years ago
Ours was compounded by Trump's and the gop's reckless tax cuts and wild spending during good economic times making it impossible to do anything but what Biden and the Democrats are doing by cutting the budget deficit and raising interest rates...

Please explain how the tax cut in 2018 caused this inflation.  Did the Bush tax cut or Obama tax cut cause inflation?  What wild spending in 2018-2020 are you looking at?  Is postponing and/or forgiving student debt inflationary?

 
 
 
Jeremy Retired in NC
Professor Expert
2.5.8  Jeremy Retired in NC  replied to  JBB @2.5.5    2 years ago

I'm only going back to before it was fucked up by the human fuck up machine.  Why bring up irrelevelant shit?

 
 
 
JBB
Professor Principal
2.5.9  JBB  replied to  Drinker of the Wry @2.5.7    2 years ago

Trump's Tax cuts increased the amount of spendable income chasing available goods and services resulting in inflation.

 
 
 
Jeremy Retired in NC
Professor Expert
2.5.10  Jeremy Retired in NC  replied to  JBB @2.5.6    2 years ago
If inflation is easing and employment is booming and the stock market improving and wages are rising and supplies are mounting and and gas prices are going down then that is by definition improving.

You seem to ignoring that shit got fucked up after 20 January 2020.  This isn't improving, this is repairing.  There's a difference.

 
 
 
Drinker of the Wry
Junior Expert
2.5.11  Drinker of the Wry  replied to  JBB @2.5.9    2 years ago

Why didn't that also happen with the Bush and the Obama tax cuts?

 
 
 
JBB
Professor Principal
2.5.12  JBB  replied to  Jeremy Retired in NC @2.5.10    2 years ago

Do you remember 2020 as good times?

 
 
 
JBB
Professor Principal
2.5.13  JBB  replied to  Drinker of the Wry @2.5.11    2 years ago

They did. We have always had inflation. You have to add on Covid's disruption of the supply chain and Vlad Putin's War in Ukraine to rusult in recent global inflation.

Inflation is the result of more money (Tax Cuts, Increased Government Spending plus Covid Stimulus Money) chasing limited goods and services. Econ 101...

 
 
 
Jeremy Retired in NC
Professor Expert
2.5.14  Jeremy Retired in NC  replied to  Drinker of the Wry @2.5.7    2 years ago

The only answer you will get for those questions - "But Trruuummmmppppp!!!!!!!"  

 
 
 
Drinker of the Wry
Junior Expert
2.5.15  Drinker of the Wry  replied to  JBB @2.5.13    2 years ago
They did.

Hardly.

The economy returned to growth in the fourth quarter of 2001 and continued to grow for 24 consecutive quarters. The economy grew at a rapid pace of 7.5 percent above inflation during the third quarter of 2003 – the highest since 1984.
Inflation was below 2% every Obama year except for two years were it was 3.1 and 2.1%.
 
 
 
JBB
Professor Principal
2.5.16  JBB  replied to  Jeremy Retired in NC @2.5.14    2 years ago

Trump is running yet Trumpsters protest!

original

 
 
 
JBB
Professor Principal
2.5.17  JBB  replied to  Drinker of the Wry @2.5.15    2 years ago

Skipped past Bush's Great Recession huh?

 
 
 
Drinker of the Wry
Junior Expert
2.5.18  Drinker of the Wry  replied to  JBB @2.5.17    2 years ago

Yes, since the topic was inflation and its causes.  

BTW, wasn't that a global recession not just a US one.  You can see that it's global inflation but are blind to a global recession - telling.

 
 
 
Jeremy Retired in NC
Professor Expert
2.5.19  Jeremy Retired in NC  replied to  JBB @2.5.16    2 years ago

[deleted]

You can't justify Biden's fucked up policies that exacerbated small problems that drove the country in to a ditch so you try (and fail) to make it about somebody who no longer has part in the process.

 
 
 
JBB
Professor Principal
2.5.20  JBB  replied to  Drinker of the Wry @2.5.18    2 years ago

US economy growing more the expected.

 
 
 
JBB
Professor Principal
2.5.21  JBB  replied to  Jeremy Retired in NC @2.5.19    2 years ago

Yes, to you things only get worse! Sad!

 
 
 
Drinker of the Wry
Junior Expert
2.5.22  Drinker of the Wry  replied to  JBB @2.5.20    2 years ago

Yes, it still is.  Guess our technocrats aren't as smart as they think.

 
 
 
JBB
Professor Principal
2.5.23  JBB  replied to  Drinker of the Wry @2.5.22    2 years ago

Righties can see pyramids from that river!

"Winter is coming. Build The Wall! Our future is dark and full of terrors", is all you've got...

 
 
 
Drinker of the Wry
Junior Expert
2.5.24  Drinker of the Wry  replied to  JBB @2.5.23    2 years ago

Perhaps, unlike you, I only know what I think.

 
 
 
Ronin2
Professor Quiet
3  Ronin2    2 years ago
Corporate layoff announcements generally have been concentrated in the technology industry and sectors of the economy sensitive to interest rates such as housing and finance.

The housing bubble is close to bursting. There will be a cascade affect with housing material manufacturers, furniture, and mortgage companies. Wonder if they learned anything from the last housing market crash on how to handle it? So far it doesn't look like it.

 
 
 
Vic Eldred
Professor Principal
4  seeder  Vic Eldred    2 years ago

Wages were up 5.1%, still behind inflation.

 
 
 
JBB
Professor Principal
4.1  JBB  replied to  Vic Eldred @4    2 years ago

Good thing Social Security payments go up 10%!

The economy is growing and inflation waning...

 
 
 
Sparty On
Professor Principal
4.1.1  Sparty On  replied to  JBB @4.1    2 years ago
Good thing Social Security payments go up 10%!

Lol .... liberal rounding error ..... it’s 8.7% and Biden had nothing to do with it.     Well, that’s not entirely true.    SS increases are legislatively pinned to the inflation rate so yeah ..... thx Joe since inflation is your baby.

 
 
 
Just Jim NC TttH
Professor Principal
4.1.2  Just Jim NC TttH  replied to  JBB @4.1    2 years ago

8.7% not 10.

Another fictional nonfiction comment??

 
 
 
Ronin2
Professor Quiet
4.1.3  Ronin2  replied to  JBB @4.1    2 years ago

Only in Democrat la la land is the slight lowering of the inflation they caused a good thing. 

"Hey everyone rejoice! The Fed is fixing our massive spending fuckups! The housing market bubble is close to bursting; and we are in a recession- though we changed the definition of recession (because that is all we can do when reality is against us). But don't worry we have a lame duck House and there is a massive Omnibus in the works. We can bring inflation roaring back to full life! Remember, vote early, vote often, vote Democrat!"

 
 
 
Sparty On
Professor Principal
4.1.4  Sparty On  replied to  Just Jim NC TttH @4.1.2    2 years ago

Lol

 
 
 
JBB
Professor Principal
4.1.5  JBB  replied to  Just Jim NC TttH @4.1.2    2 years ago

No, the annual rate of inflation at the end of October dropped a full point to 7.7% because inflation is waning. If you were honest you would acknowledge this. But, instead, you use misleading old numbers.

 
 
 
Snuffy
Professor Participates
4.1.6  Snuffy  replied to  JBB @4.1.5    2 years ago

He was referencing the SS increase for next year, not the annual inflation rate.  

 
 
 
Just Jim NC TttH
Professor Principal
4.1.7  Just Jim NC TttH  replied to  Snuffy @4.1.6    2 years ago

You would think one would make the connection with the comment being replied to. jrSmiley_103_smiley_image.jpg

 
 
 
Drinker of the Wry
Junior Expert
4.1.8  Drinker of the Wry  replied to  JBB @4.1.5    2 years ago

I think that the labor participation rate also fell, especially for male adults.  Pre-COVID, Feb 2020 the overall rate was 63.4, last month it was 62.1.  The combination of job growth and lower participation will continue to be an inflation driver.  Male adults was 70.2, fifteen years ago it was 75.8%.  Apparently more men are tired of working for a living.  

 
 
 
pat wilson
Professor Participates
4.1.9  pat wilson  replied to  Sparty On @4.1.1    2 years ago

Did Biden cause global inflation ?

 
 
 
Sparty On
Professor Principal
4.1.10  Sparty On  replied to  pat wilson @4.1.9    2 years ago

Is a pigs ass pork?

 
 
 
pat wilson
Professor Participates
4.1.11  pat wilson  replied to  Sparty On @4.1.10    2 years ago

If you are saying (it's hard to tell) that Biden caused global inflation can you say how he did that ?

 
 
 
JBB
Professor Principal
4.1.13  JBB  replied to  Drinker of the Wry @4.1.8    2 years ago

Yes, Boomers are retiring by the millions...

 
 
 
JBB
Professor Principal
4.1.14  JBB  replied to    2 years ago

Biden as President of the United States has turned things around. Things are gradually getting better month by month. Actions like cutting the deficit and raising rates take a while to become evident but the monthly numbers prove they are working already.

The US economy doesn't turn on a dime!

It is going to be smooth sailing by 2024... 

 
 
 
JBB
Professor Principal
4.1.15  JBB  replied to  Snuffy @4.1.6    2 years ago

Okay, so you admit inflation is improving?

 
 
 
Sean Treacy
Professor Principal
4.1.17  Sean Treacy  replied to  JBB @4.1.13    2 years ago
Yes, Boomers are retiring by the millions...

That's not the issue. Labor force participation in the 25-54 age group actually dropped in November and the rate as a whole (which excludes people over 64) remains lower than pre pandemic.  

 
 
 
JBB
Professor Principal
4.1.18  JBB  replied to    2 years ago

What goes up also comes down. Things get worse and then times always get better...

Sorry it blows your downer but, they are!

original

 
 
 
JBB
Professor Principal
4.1.20  JBB  replied to    2 years ago

If Trump was a good leader he would not have gotten such a world class whoopin!

 
 
 
Sparty On
Professor Principal
4.1.21  Sparty On  replied to  pat wilson @4.1.11    2 years ago

Any Econ 101 student knows inflation can be caused by too much money chasing too few goods and in turn raising the cost of those goods.    Biden has been printed money in one form or another since he got in office.     He’s been drunk on printing free money.     When you’re in charge of nearly a quarter of the global economy, sure that affects global inflation.   So of course Biden has responsibility for it.    It would be obtuse to think otherwise.

If the fed hadn’t finally gotten proactive and started raising rates we’d be asshole deep in double digit inflation.   Zero credit to Biden for those actions since the fed is completely independent from the executive branch.

How quick you Biden apologists forget Biden’s inflation journey.    From, it’s no problem and just transitionary, to 40 year record inflation, to taking credit for lowering record inflation by a marginal amount from its 40 year record high.

The spin the left is trying to put on the inflation turd Biden has helped drop amuses me.   Almost as funny as the nitwits who defend him while he’s screwing them into the ground.

Dumbasses.

 
 
 
JBB
Professor Principal
4.1.23  JBB  replied to    2 years ago

Good that the housing bubble is bursting!

 
 
 
Drinker of the Wry
Junior Expert
4.1.25  Drinker of the Wry  replied to  JBB @4.1.23    2 years ago
Good that the housing bubble is bursting!
Home prices have fallen recently, but they’re still up relative to February 2020.

Of course mortgages cost much more now so monthly payments remain much higher.

 
 
 
Drinker of the Wry
Junior Expert
4.1.26  Drinker of the Wry  replied to  JBB @4.1    2 years ago
Good thing Social Security payments go up 10%!

Will that excess be inflationary?

 
 
 
Snuffy
Professor Participates
4.1.27  Snuffy  replied to  JBB @4.1.15    2 years ago
No, the annual rate of inflation at the end of October dropped a full point to 7.7% because inflation is waning. If you were honest you would acknowledge this. But, instead, you use misleading old numbers.

In post 4.0 Vic stated 

Wages were up 5.1%, still behind inflation.

Your reply in 4.1 was 

Good thing Social Security payments go up 10%! The economy is growing and inflation waning...

So in 4.1.2  Just Jim said 

8.7% not 10. Another fictional nonfiction comment??

and in 4.1.5 your reply to that was 

No, the annual rate of inflation at the end of October dropped a full point to 7.7% because inflation is waning. If you were honest you would acknowledge this. But, instead, you use misleading old numbers.

In 4.1.6  (that you replied to) I pointed out that you seemed unable to follow your own conversation as the initial post was about wages not keeping up with inflation , you pivoted to Social Security payments going up by 10%,  you were corrected by Jim that the Social Security payments were only going up by 8.7%, not the 10% you posted.  And I replied that Just Jim was correcting your incorrect statement of Social Security payments going up by 10% when you tried to go back to inflation and state that the number Jim provided was an old number.  You were just incorrect all the way around as the thread was wages not keeping up with inflation.

Nowhere in my comment was I talking about inflation.  All I did was point out that your reply to Jim was wrong as you didn't understand what Jim was commenting on.   It's a shame you can't follow your own thread.

 
 
 
JBB
Professor Principal
4.1.28  JBB  replied to  Snuffy @4.1.27    2 years ago

Is SS increase of 8.7% greater than 7.7%?

 
 
 
Snuffy
Professor Participates
4.1.29  Snuffy  replied to  JBB @4.1.28    2 years ago

Again, my comment in 4.1.6 had absolutely nothing to do with inflation or the social security increase or wages.  All I did was correct your misunderstanding in what you were responding to because you were not replying to what you though you were replying to.  Do you understand now?  Again,  I was NOT talking about wage growth, the social security increase or inflation.  All I was doing was correcting you where you were wrong in what the hell  you were talking about.  

 
 
 
pat wilson
Professor Participates
4.1.30  pat wilson  replied to  Sparty On @4.1.21    2 years ago

Rising inflation is a global problem

U.S. policy choices are not to blame

       

Key takeaways:

  • An international comparison among OECD countries shows that rising inflation is a global phenomenon, not unique to the United States.
  • This fact argues strongly that high inflation in the U.S. has not been driven by any unique American policy—not the American Rescue Plan and other generous fiscal relief during the pandemic recession and recovery nor anything else U.S.-centric.
  • Some have argued that the global rise of inflation means that many countries— including the U.S.—overstimulated their economies and generated excess aggregate demand. But this explanation is not supported by the data. The countries with larger declines in unemployment over the past 18 months have not seen larger inflation
  • spikes.
 
 
 
Sparty On
Professor Principal
4.1.31  Sparty On  replied to  pat wilson @4.1.30    2 years ago

EPI .... a left leaning group.    

They must have collectively missed Econ class the day they discussed inflation.   That or they are simply following their liberal bias.   Take your pick.

Any supposition that policy of one quarter of the the global economy, is not affecting inflation, is just ignorant.    No links needed.    That’s just common sense.

No other way to put it.

 
 
 
pat wilson
Professor Participates
4.1.32  pat wilson  replied to  Sparty On @4.1.31    2 years ago

In-house researchers maintain their standing in the academic community by publishing findings in prestigious peer-reviewed academic journals and by delivering public lectures, speeches, and testimony. Our methods for ensuring our research methodologies are exemplary and include the use of highly qualified researchers and reviews by outside experts from across the ideological spectrum.

(same link)

 
 
 
pat wilson
Professor Participates
4.1.33  pat wilson  replied to  Sparty On @4.1.31    2 years ago
Any supposition that policy of one quarter of the the global economy, is not affecting inflation, is just ignorant.  

Who said that ? That's whom you should admonish.

 
 
 
Sparty On
Professor Principal
4.1.34  Sparty On  replied to  pat wilson @4.1.33    2 years ago
Who said that ?

Your own article :

  • This fact argues strongly that high inflation in the U.S. has not been driven by any unique American policy—not the American Rescue Plan and other generous fiscal relief during the pandemic recession and recovery nor anything else U.S.-centric.

That's whom you should admonish.

Already did.

You and the article you linked have been appropriately admonished.

 
 
 
pat wilson
Professor Participates
4.1.35  pat wilson  replied to  Sparty On @4.1.34    2 years ago

The acceleration of inflation is global Difference in core inflation rates from December 2020 to May 2022 compared with 2 years pre-pandemic “normal” inflation

Country Inflation acceleration
JPN -0.0016
NOR 0.014173
CHE 0.01475
NLD 0.01691
GRC 0.01806
FRA 0.018085
ITA 0.019159
MEX 0.022772
DEU 0.023085
BEL 0.02426
ESP 0.024595
KOR 0.026003
COL 0.027358
LUX 0.02815
ISR 0.0285
DNK 0.030457
AUT 0.031292
Non-US median 0.031292
CAN 0.033041
SWE 0.033199
FIN 0.033758
GBR 0.03608
IRL 0.036566
Non-US average 0.036831
USA 0.038027
SVN 0.040865
ISL 0.042115
LVA 0.042944
PRT 0.051002
HUN 0.054954
EST 0.064302
POL 0.065441
CHL 0.065947
LTU 0.069453
SVK 0.076997
CZE 0.101539

You couldn't admonish your way out of a paper bag.

 
 
 
Sparty On
Professor Principal
4.1.36  Sparty On  replied to  pat wilson @4.1.35    2 years ago
You couldn't admonish your way out of a paper bag.

You’d be among the last to properly judge that.

No doubt about it.

 
 
 
Drinker of the Wry
Junior Expert
5  Drinker of the Wry    2 years ago
Actions like cutting the deficit and raising rates t

The budget deficit pre-covid in 2019 was $984.4 billion, post-covid in 2022 it will be about $1.375 trillion.  Is government spending less inflationary than individual investment and spending?

 
 
 
JBB
Professor Principal
5.1  JBB  replied to  Drinker of the Wry @5    2 years ago

What were El Trumpo's budget deficits in the last two years of Trump's budgets in 2020 and 2021?

The first budget Joe Biden signed was for 2022.

 
 
 
Drinker of the Wry
Junior Expert
5.1.1  Drinker of the Wry  replied to  JBB @5.1    2 years ago

Very large because of the COVID anomaly.

 
 
 
JBB
Professor Principal
5.1.2  JBB  replied to  Drinker of the Wry @5.1.1    2 years ago

Even economic neophytes know it is more complicated. The Covid-19 stimulus bills contributed to current inflation by increasing the money supply during a time when the supply of goods and services shrank which will always result in inflation. Add in the global supply chain collapse and Putin's War in Ukraine and BINGO, everybody loses...

 
 
 
Sparty On
Professor Principal
5.1.3  Sparty On  replied to  Drinker of the Wry @5.1.1    2 years ago

COVID-19 doesn’t happen and the triggering would have gone nuclear because Trump would have won another term.

The left needed a pandemic to beat him.

Pretty sad.

 
 
 
Drinker of the Wry
Junior Expert
5.1.4  Drinker of the Wry  replied to  JBB @5.1.2    2 years ago
The Covid-19 stimulus bills contributed to current inflation by increasing the money supply during a time when the supply of goods and services shrank which will always result in inflation.

Yes, how many Dems in the House and Senate voted against it?  Isn't Biden asking for more Covid funding from the lame duck Congress?

 
 
 
JBB
Professor Principal
5.1.5  JBB  replied to  Drinker of the Wry @5.1.4    2 years ago

Trump asked for it and Trump signed it!

 
 
 
JBB
Professor Principal
5.1.6  JBB  replied to  Drinker of the Wry @5.1.4    2 years ago

Will the gop support helping businesses?

 
 
 
Drinker of the Wry
Junior Expert
5.1.7  Drinker of the Wry  replied to  JBB @5.1.5    2 years ago

I asked you about the latest Biden request.

 
 
 
Drinker of the Wry
Junior Expert
5.1.8  Drinker of the Wry  replied to  JBB @5.1.6    2 years ago

You've got me, they seem to be taking an anti-business tone lately.

 
 

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