Drudge Retort: The Other Side of the News
Friday, July 05, 2019

The US economy added 224,000 jobs in June, a strong comeback for the labor market after a disappointing May.

Advertisement

More

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

Ever notice how every month the "experts" are wrong in the predictions, yet every month they are still called "experts".

#1 | Posted by gracieamazed at 2019-07-05 09:34 AM | Reply

I wonder what they are x-sperts in? Being stooped?

#2 | Posted by Sniper at 2019-07-05 11:37 AM | Reply

Well, there were 33,000 of government jobs added, many of them possibly to be ready for Census - this correlates with a weak ADP private jobs report earlier in the week... Also, the numbers of jobs for May and April were "downsized" / revised down, confirming soft private sector growth.

"Health-care providers added 35,000 jobs and transportation and warehouse companies boosted payrolls by 24,000. Shippers have been steadily adding jobs for years amid a boom in online shopping. ...

Retailers had no such luck: They shed another 6,000 jobs to continue a recent string of declines. Local-government hiring led to a 33,000 surge in public-sector payrolls.

The 12-month rate of hourly wage gains was unchanged at 3.1%.

The good June report doesn't hide the truth that hiring has softened. The U.s. added an average of 172,000 new jobs a month in the first half of 2019, compared to a heady 223,000 pace in 2018."

So, yeah, after the "adjustments" for topline BLS report, the "experts" were pretty much on the money.

#3 | Posted by CutiePie at 2019-07-05 04:51 PM | Reply

Health-care providers added 35,000 jobs and transportation and warehouse companies boosted payrolls by 24,000. Shippers have been steadily adding jobs for years amid a boom in online shopping. ...

WTF are you reading, Negative Nancy?

#4 | Posted by Spork at 2019-07-05 06:02 PM | Reply

If you can just remember that the oil has to be HOT first, you'll get that fry-guy position.

#5 | Posted by Spork at 2019-07-05 06:04 PM | Reply

Ever notice how every month the "experts" are wrong in the predictions, yet every month they are still called "experts".

#1 | Posted by gracieamazed

Ever notice how people who did horrible in school love to try and sell the narrative that experts dont really know anything?

The moron news channel loves to help tell that story.

#6 | Posted by SpeakSoftly at 2019-07-05 09:20 PM | Reply | Newsworthy 1

"Ever notice how every month the "experts" are wrong in the predictions, yet every month they are still called "experts"."

Well, I noticed the experts predicted the tax cuts would mainly go to stock buybacks instead of wage increases.

#7 | Posted by Danforth at 2019-07-05 09:48 PM | Reply | Newsworthy 1

WTF are you reading, Negative Nancy?

#4 | Posted by Spork at 2019-07-05 06:02 PM |

I think the question is to me, since you are quoting my excerpt. So first, you are confusing me with someone else - I am a Very Stable Positively Neutral CutiePie, not "Negative Nancy" (WTF did that come from? Infantile and infertile mind of Donald Trump?)

Second, all the info is in economic and business publications / websites - do a search, if you don't know what they are. You can try WSJ, Fox Business News if you believe them to be more credible on business and economy.

Third, this is from The Capitalist Tool itself - Forbes magazine, not some "liberal" blog, as you probably suspect I was using:

7/05/2019 12:05PM 45,400 views
Chuck Jones | Forbes Contributor

Trump Is Falling Almost 1 Million Jobs Short Vs. Obama

The U.S. Bureau of Labor announced that the economy added 224,000 jobs in June vs. expectations of 160,000 and May's revised result of 72,000. The 224,000 is still strong, but there were revisions to April and May that subtracted 11,000 people hired in those months and government employment added 33,000. Overall private payrolls added 191,000 employees.

Trump entered office on January 20, 2017, and starting with February 2017 he has been President for 29 months. Total job growth during that time has been 5.613 million or 194,000 per month with those results being helped by the tax cut.

Working back from January 2017, Obama's last month in office, there had been 6.423 million jobs added or 221,000 per month. The difference for the 29 months is 810,000 more jobs or 27,000 more per month than Trump.

Note that back in January this year the total difference was only 194,000, which means over the past five months it has increased by 616,000. And looking at the next six months with Obama's job numbers of 188,000 to 327,000 per month, the gap should only increase and cross 1 million.

Job growth is slowing down...

Not the best economy ever

The underlying economy is weaker than perceived when you look at March quarter's GDP numbers and railroad traffic taking a significant downward move over the past month. If the economy continues on this path it could enter a recession when few are forecasting one with one reliable indicator foreshadowing a downturn in the next 6 to 18 months. It could become a self-fulfilling prophecy as almost 70% of CFO's are predicting a recession by the end of 2020.

#8 | Posted by CutiePie at 2019-07-06 05:10 AM | Reply | Newsworthy 1

Yeah, WE'VE all heard the BS before. The jobs report beat estimates and now the economy ois slowing to a halt. No wonder someone called you Negative Nancy, the shoe seems to fit. Who the F CARES that Trump didn't beat Obama in numbers???? I'm still going to vote for him again no matter what the garbage news network says.

#9 | Posted by robadude32 at 2019-07-06 05:31 AM | Reply | Funny: 1 | Newsworthy 1

#9

Well no one called you bright.

#10 | Posted by Zed at 2019-07-06 07:30 AM | Reply

Advertisement

Advertisement

#9

You're SHEEPLE again.

#11 | Posted by Zed at 2019-07-06 07:33 AM | Reply

IOW
Pffft no biggie
~the hatful left

#12 | Posted by phesterOBoyle at 2019-07-06 08:15 AM | Reply

record number of employed. we are down to nobody left to hire that can pass the initial drug screen!

#13 | Posted by Maverick at 2019-07-06 09:14 AM | Reply | Newsworthy 1

If you can just remember that the oil has to be HOT first, you'll get that fry-guy position.
#5 | POSTED BY SPORK

Why does the Right have such contempt for regular hard working folks?

#14 | Posted by TFDNihilist at 2019-07-06 09:30 AM | Reply

#13
Easily solved. Legalize drugs, stop testing, anyone killed in traffic or on the job due to drug intox is declared the price of doing business.

#15 | Posted by phesterOBoyle at 2019-07-06 09:31 AM | Reply

There are two Americas. The homeless situation is shameful especially considering how much we spend blowing other people to pieces.

www.shadowstats.com

http://www.shadowstats.com/alternate_data/inflation-charts

http://www.shadowstats.com/alternate_data/gross-domestic-product-charts

http://www.shadowstats.com/alternate_data/gross-domestic-product-charts

At least there is good agreement on the size of the money supply today, unlike 2008 when we weren't told what they were doing.

www.shadowstats.com/alternate_data/money-supply-charts

#16 | Posted by bayviking at 2019-07-06 10:05 AM | Reply

There are two Americas. The homeless situation is shameful

Who's fault is that?

I guess it's not the fault of the homeless guy, right?

#17 | Posted by boaz at 2019-07-06 10:38 AM | Reply

There isn't one answer to such a question, but, the decision to use Asian and Latin labor was done deliberately to exclude Americans. The decision to close mental institutions by Reagan was made on behalf of the Oligarchy.

#18 | Posted by bayviking at 2019-07-06 01:56 PM | Reply

Job growth has been on a relatively straight line since 2009. Thus it is totally absurd to suggest that the current president did something to change the growth rate. Since the growth rate hasn't changed.

Let me repeat, he poured ( or as he spells it pored) $4 trillion into the economy with tax cuts for the rich and the job growth curve never changed. Not one bit. It's been going up at an unchanged rate.

#19 | Posted by prius04 at 2019-07-06 09:05 PM | Reply | Newsworthy 1

Labor force participation rate essentially unchanged since 2014:

www.google.com

#20 | Posted by TrueBlue at 2019-07-07 06:24 AM | Reply

I se no reason to believe job numbers issued by the Trump Administration.

#21 | Posted by Zed at 2019-07-07 09:13 AM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2019 World Readable

Drudge Retort