Jobs report is out...
- Thread starter EERs 3:16
- Start date
I wouldn't call it "great" but it's looking up. 235,000 jobs added. Wages up 2.8% compared to last year. Hiring up, more folks looking for work...that's the highest level in nearly a year.
Only concern is Yellen and the Feds, who are threatening to raise short term interest rates...which makes financing our debt higher. This is why we need explosive growth and tax cuts, to increase revenues to the treasury and keep the private sector growing to feed even more dollars into the treasury.
Without economic growth exceeding 3%, and massive discretionary spending cuts...we pretty much are running like Hamsters on a wheel trying to wrestle this debt...especially with Yellen doing what she can to make it even harder for us to pay it off.
Only concern is Yellen and the Feds, who are threatening to raise short term interest rates...which makes financing our debt higher. This is why we need explosive growth and tax cuts, to increase revenues to the treasury and keep the private sector growing to feed even more dollars into the treasury.
Without economic growth exceeding 3%, and massive discretionary spending cuts...we pretty much are running like Hamsters on a wheel trying to wrestle this debt...especially with Yellen doing what she can to make it even harder for us to pay it off.
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Is this number net of losses or just gross new jobs? I saw something in the little weekly paper up here last night about GM cutting 1,100 jobs in the rust belt, but adding jobs (not the same amount) at a facility in Spring Hill, TN. The same article linked other job losses since the first of the year and also pending cuts. Anyone know how this number is calculated?
Here's the article: http://www.usatoday.com/story/money/nation-now/2017/03/06/lansing-gm-plant-layoffs/98805370/
Net new jobs. I think it is a good, not great number. I liked the dispersion by industry (e.g. manufacturing vs. government) for example. The key is to watch U6 unemployment. That tells the real story. U3 fell slightly. U6 includes those that have given up looking for work and those wanting to work full time but stuck in part time jobs.
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Net. And BTW - your story is about future job cuts so it doesn't impact February's numbers.
Good stuff PAX. Also keep on eye on payroll and capital budgets. If companies are adding to their payrolls (expenses for labor) that's an indicator of future anticipated economic growth and business activity.
I think many companies are anticipating big tax cuts and regulatory relief and making huge capital expansion plans for buildings, machinery, and materials based on that. These are the real signs we need to see to accurately assess if an economic boom is gathering steam.
I truly hope it is 'cause we need jobs, job, jobs.
The Exxon announcement was big. $20B in energy infrastructure. Consumer sentiment is very high. Cap Ex is crucial, as you say. Repatriation and tax cuts should spur investment which will create jobs.