US adds 517,000 jobs in January in huge gain for labor market

[Scott]

The US job market added 517,000 jobs in January, a huge gain for the labor market even as the Federal Reserve has pushed up interest rates to bring down inflation and try to temper hiring.

Meanwhile, the unemployment rate has held relatively steady at 3.4% – a 0.1% decrease compared to last month. Economists had expected the unemployment rate to rise slightly last month, but the rate still remains on par with what was seen before the pandemic.

https://www.theguardian.com/business/2023/feb/03/us-jobs-report-january-2023-unemployment-rate

[Chomper Higgot]

More positive results from Biden’s management of the economy.

 

 

[Scott]

Troll post and reply removed.

 

[Chomper Higgot]

Spending money on infrastructure and creating across the whole of America.

 

 

[Scott]

Latest jobs report shows even more growth than you think

https://www.cnn.com/business/live-news/stock-market-news-today-jobs-2323/index.html

 

[Chomper Higgot]

This is what happens when money is spent on doing things and building stuff for everyone rather than tax breaks for the hyper wealthy.

[ozimoron]

This is crazy. The jobs data came out before the stock market opening. On open the S&P dropped over 40 points then regained all of it to rise to a high above yesterday and has now lost all 40 points again.

[Tug]

4 minutes ago, ozimoron said:

This is crazy. The jobs data came out before the stock market opening. On open the S&P dropped over 40 points then regained all of it to rise to a high above yesterday and has now lost all 40 points again.

The traders are worried about interest rate hikes obviously imo you gotta hand it to Joe and the team they seem to be doing a stellar job he’s one productive old duffer !get her done Joe!

[placeholder]

Went to the foxnews landing page to see how prominently this story was displayed. It must have been written in invisible pixels because it's nowhere to be seen. Is it any wonder that those on the right are so badly informed?

[Eric Loh]

The employment rate at 3.4% is impressive. In fact it is a historic low since 1969. Considering that Trump left office with the worst job record since Herbert Hoover at 6.2%, Joe Biden’s accomplishment is remarkable. Covid was a factor but Trump mishandling was glaring and his policies make the economy worst off. 

 

 

[Tug]

What a difference an election makes!

[Credo]

It has seemed like the US economy is a lot like the Titanic -- it's hard to maneuver through, but so far, a decent, experienced leader has made the perilous journey a safe one so far.