US Economy thread

[tower912]

This is missing the cross reference of how ownership of said rental properties has become concentrated.   Monopolization and then extorting rents because they can.

But on the flip side, it isn't like there are a whole lot of rental properties sitting empty or houses sitting empty.   Except out in the country and in small towns too remote from the cultural hubs that are the cities.

[The Lens]

+350,00 jobs in January

#AINA

[MU82]

From Seeking Alpha:

January U.S. Nonfarm Payrolls: +353K vs. +170K expected and +333K prior (revised from +216K).

Job gains were the strongest in professional and business services, health care, retail trade, and social assistance, the U.S. Department of Labor said on Friday.

Unemployment rate: 3.7% vs. 3.8% expected and 3.7% prior.

Yes, there are layoffs in some industries, but there is a pretty big labor shortage overall.

[The Hippie Satan of Hyperbole]

Big layoffs always draw headlines. But the incremental increase in hiring happening everywhere else is more than making up for it.

I know there are a lot of people hoping and praying for the economy to tank, just like they are suddenly hoping and praying that the border crisis isn't fixed, but it's just not happening.

[The Lens]

Big layoffs always draw headlines. But the incremental increase in hiring happening everywhere else is more than making up for it.

I know there are a lot of people hoping and praying for the economy to tank, just like they are suddenly hoping and praying that the border crisis isn't fixed, but it's just not happening.

They're also hoping and praying for crime to swallow up the MU campus and major US cities.  Does God not like them?  He doesn't seem to listen. 

[Uncle Rico]

Big layoffs always draw headlines. But the incremental increase in hiring happening everywhere else is more than making up for it.

I know there are a lot of people hoping and praying for the economy to tank, just like they are suddenly hoping and praying that the border crisis isn't fixed, but it's just not happening.

What makes you think that?

https://www.nbcnews.com/news/amp/rcna136649

[TSmith34, Inc.]

What makes you think that?

https://www.nbcnews.com/news/amp/rcna136649

They say the quiet part out loud quite often these days. And the cult loves it.

[jesmu84]

They say the quiet part out loud quite often these days. And the cult loves it.

Nah.

It's not a governing body anymore. It's team sports now.

[The Hippie Satan of Hyperbole]

Nah.

It's not a governing body anymore. It's team sports now.

That is 100% correct. It's not about winning for the sake of policy. Its about winning for the sake of winning.

[Pakuni]

WASHINGTON -- The nation’s employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy’s continuing ability to shrug off the highest interest rates in two decades.

Friday’s government report showed that last month’s job gain — far above what economists had predicted — topped the December gain of 333,000, a figure that was itself revised sharply higher. The unemployment rate stayed at 3.7%, just above a half-century low.

Wages rose unexpectedly fast in January, too. Average hourly pay climbed a sharp 0.6% from December, the fastest monthly gain in nearly two years, and 4.5% from January 2023.

The unemployment rate has now come in below 4% for two straight years, the longest such streak since the 1960s.

https://abcnews.go.com/US/wireStory/us-jobs-report-january-show-steady-hiring-growth-106887552

[The Lens]

WASHINGTON -- The nation’s employers delivered a stunning burst of hiring to begin 2024, adding 353,000 jobs in January in the latest sign of the economy’s continuing ability to shrug off the highest interest rates in two decades.

Friday’s government report showed that last month’s job gain — far above what economists had predicted — topped the December gain of 333,000, a figure that was itself revised sharply higher. The unemployment rate stayed at 3.7%, just above a half-century low.

Wages rose unexpectedly fast in January, too. Average hourly pay climbed a sharp 0.6% from December, the fastest monthly gain in nearly two years, and 4.5% from January 2023.

The unemployment rate has now come in below 4% for two straight years, the longest such streak since the 1960s.

https://abcnews.go.com/US/wireStory/us-jobs-report-january-show-steady-hiring-growth-106887552

The DOW is at record highs,
The S&P is at record highs,
My 401k is 18.9% YoY,
Gas is in the mid $2.00s,

But keep telling me the ecomony is bad.

#AINA

[jesmu84]

The DOW is at record highs,
The S&P is at record highs,
My 401k is 18.9% YoY,
Gas is in the mid $2.00s,

But keep telling me the ecomony is bad.

#AINA

The "economy" is not the stock market.

Only about half of the US is invested (can afford) stocks

[The Lens]

So what indices do you use to measure the health of an economy?

[Skatastrophy]

So what indices do you use to measure the health of an economy?

Sir, this is a thread about feelings not numbers

[Dr. Blackheart]

So what indices do you use to measure the health of an economy?

https://www.chicagofed.org/research/data/cfnai/current-data

[Pakuni]

The "economy" is not the stock market.

Only about half of the US is invested (can afford) stocks

More like 61%.
And while you're correct that the stock market alone isn't the economy and not everyone directly benefits from a strong market, nearly everyone indirectly benefits through job creation and wealth generation.
It's by no means everything, but it's really important.

I get your point... not everyone is thriving in this economy. That's true. But there's never been a time when everyone has thrived economically.  I don't say that with indifference to those who are struggling, but to point out that the existence of struggling people does not mean the economy isn't humming.

[Jockey]

“Mea culpa,” Fox Business host Larry Kudlow said on the air Thursday. “I was wrong about the slowdown and the recession, so was the entire forecasting fraternity.”

[SoCalEagle]

Now we know why the Fed indicated that it wouldn't be cutting rates in March.  The economy is just too strong to stimulate it at this point. 

[jesmu84]

More like 61%.
And while you're correct that the stock market alone isn't the economy and not everyone directly benefits from a strong market, nearly everyone indirectly benefits through job creation and wealth generation.
It's by no means everything, but it's really important. I

I get your point... not everyone is thriving in this economy. That's true. But there's never been a time when everyone has thrived economically.  I don't say that with indifference to those who are struggling, but to point out that the existence of struggling people does not mean the economy isn't humming.

The top 10% owns almost 90% of all stocks. The top 1% owns 53%.

When we focus on stock market and investment growth, we're funneling money upwards.

Yes, we might create some jobs for the bottom 50%. But until those jobs provide meaningful ("living") wages, I'm not sure it's all that beneficial to focus so much on "stock market go up."

The alternative, of course, would be to provide a robust social safety net on the federal level.

[jesmu84]

So what indices do you use to measure the health of an economy?

Likely the far majority that post here are thankfully stable enough to focus on the stock market situation as a reflection of their economic success.

I'd look at more stats/data that tell us how the bottom 25-50% of our nation are doing.

A rising tide lifts all boats.

[The Hippie Satan of Hyperbole]

*Real GDP and Real GDP per capita
*Employment rate
*Retail sales
*Consumer confidence
*Inflation

Not an exhaustive list, but each of these are probably better at getting a snapshot of the entire economic picture than the stock market.

[Pakuni]

I'd look at more stats/data that tell us how the bottom 25-50% of our nation are doing.

Which stats/data are those?

[Pakuni]

The top 10% owns almost 90% of all stocks. The top 1% owns 53%.

When we focus on stock market and investment growth, we're funneling money upwards.

Yes, we might create some jobs for the bottom 50%. But until those jobs provide meaningful ("living") wages, I'm not sure it's all that beneficial to focus so much on "stock market go up."

The alternative, of course, would be to provide a robust social safety net on the federal level.

I'm not disagreeing with anything here. I'm disagreeing with the idea that the stock market isn't a measure of the overall economy.

[jesmu84]

Which stats/data are those?

I like to view the median wages of those populations compared to inflation, productivity and purchasing power.

I also like to view the savings rates of those same populations.

[rocket surgeon]

“Mea culpa,” Fox Business host Larry Kudlow said on the air Thursday. “I was wrong about the slowdown and the recession, so was the entire forecasting fraternity.”

at least he had the character to acknowledge and apologize.  most of your "experts" just ignore and move on to their next buffoonery