This is a meaningless statistic when none of the jobs added can afford rent and groceries.
this post was submitted on 05 Oct 2024
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The article image with 16.25/hr shown, speaks volumes
Not meaningless, but those other things do matter.
They can afford them more than they did when they were jobless.
You don't think any of them were in tech, health care, engineering gigs, etc? Personally I rather doubt they're all teaching positions or something.
From the article:
Restaurants and bars did robust hiring in September, adding 69,000 jobs last month, more than quadrupling their monthly average of 14,000 over the past 12 months, the Labor Department said. The healthcare sector added 45,000 jobs while the government contributed 31,000.
Other sectors adding jobs in September included social assistance (27,000) and construction (25,000).
I'm curious about the healthcare jobs, and if these include insurance paper pushers.
There's a lot of nurse hiring going on. Travel nurses are still a big thing but it's started to level off a bit with increased pay/incentives and people getting tired of travel. Some of these probably are bs admin type jobs but I don't think health insurance has grown that much that quickly.
Of those jobs added how many are full time?
And how many pay more than minimum wage (AKA I would pay you less if it wasn't illegal)?
I believe those numbers are calculated as full time jobs. So 2 jobs offering 20 hours a week only count as one. Hard to say how many are part time though. And not many jobs paying min was get filled these days, there's a lot of options above the minimum.
This is great news, and certainly drives home the fact that the current administration put in the work to make it happen.
Glad so many have been added.
Are they gig economy "jobs"?
Does this include the fake job postings by companies in order to show off fake financial security?
Remind me in a month when they silently correct the numbers.
Like the last couple of months have been silently corrected upward?
Naw…
https://www.axios.com/2024/10/04/us-job-number-revisions
This is one of the reasons that the fed lowered interest rates recently.
Also of note, all the data that the fed looks at seems to need revisions about a month or 2 after its initial posting.