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   feld (feld@bikeshed.party)'s status on Saturday, 06-Apr-2024 23:17:01 JST feld

   in reply to

   • William Lindsey :toad:
   @wdlindsy these numbers are so meaningless and it sucks that the news pushes them. The number of jobs comes from the NFP (non-farm payroll) which means the typical W2 employee. It does not include 1099 contractors or gig workers. It does not mean that there was 300,300 new jobs that can cover the cost of living. For all we know (and most likely) these jobs are less than $15/hr and people have to do gig economy jobs on the side to make ends meet. Which is terrible.
   
   They don't want to tell you how many new people are gainfully employed in a job which covers their cost of living, provides benefits, and has a solid retirement plan. Because those numbers would be so devastatingly low it would destroy any semblance of "the economy is doing great"
   • Another Linux Walt Alt and Sick Sun like this.
   • Embed this notice
     William Lindsey :toad: (wdlindsy@toad.social)'s status on Saturday, 06-Apr-2024 23:17:02 JST William Lindsey :toad:

     "The March jobs report was another big one, coming in way above expectations at 303,000 net new jobs, and 22k more in upward revisions from previous months. Average hourly earnings are up 4.1% over the past year. So with inflation at 3.2% over the past year workers in America are not only seeing the best job market since the 1960s - almost 60 years! - but are also now clearly getting ahead and beating inflation."

     ~ Simon Rosenberg

     #Biden #economy #jobs #inflation
     /1

     https://www.hopiumchronicles.com/p/another-great-jobs-report-the-economy

     Sick Sun repeated this.