Economics Thread

nsacpi said:
Since June 2022 we've added over 6 million jobs. Nonfarm payrolls June 2022 152.3 million. October 2024 159.0 million. That's a rapid pace.
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What data are you using? Because the Labor Bureau has yet to revise down their official data. Job growth got revised down 818k jobs from April 2023 through March 2024. But the Labor Bureau won't officially revise any numbers until Feb 2025 (seems convenient, but for all I know it may be the standard). According to reports, we didn't average 242k per month like the Biden administration pretended we did. We averaged 172/ month, which would be lower than Trump's worst year before COVID.

And again, we are in a full time job deficit under Biden, which historically has only happened either right before, or right after a recession.
 
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non-farm payrolls data

we are in a recession for native-born folks

but for immigrants thangs are booming...for us working multiple jobs is normal
 
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nsacpi said:
non-farm payrolls data

we are in a recession for native-born folks

but for immigrants thangs are booming
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Whatever data you are using, it is incorrect. We did not create 6 million jobs since June 2022. And our job creation rate is slower the last 24 months than before the pandemic. The best you can say is that 172k per month is still "on par" with pre-pandemic numbers. At least until you look at Full time jobs created.

So, sure, we are in a boom for part time temporary jobs, which pay considerably less money than FT jobs and are not a sustainable path for economic prosperity. So... Congrats I guess?
 
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i haven't worked just one job in over 20 years

it is normal to have multiple gigs...at least for us immigrants this is not unusual

currently i teach full-time

i also write a monthly column

i serve on an advisory board for a well-known mutual fund company

and i have a consulting business

y'all keep doing whatever works for you
 
nsacpi said:
i haven't worked just one job in over 20 years

it is normal to have multiple gigs...at least for us immigrants this is not unusual

currently i teach full-time

i also write a monthly column

i serve on an advisory board for a well-known mutual fund company

and i have a consulting business

y'all keep doing whatever works for you
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Does your wife also work?

And by the way, it is not really "normal" to have multiple jobs. Only about 5% of working Americans work more than 1 job.

Personally, I elect to spend time with my daughter as much as I can, rather than on the working myself into an early grave.
 
Carp said:
Does your wife also work?

And by the way, it is not really "normal" to have multiple jobs. Only about 5% of working Americans work more than 1 job.

Personally, I elect to spend time with my daughter as much as I can, rather than on the working myself into an early grave.
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She does.

As I said keep doing whatever works for you. But if some of us want to work ourselves to an early grave that's our choice as well. And we're happy to be part of an economy where people who want to work multiple gigs have those opportunities.
 
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nsacpi said:
i haven't worked just one job in over 20 years

it is normal to have multiple gigs...at least for us immigrants this is not unusual

currently i teach full-time

i also write a monthly column

i serve on an advisory board for a well-known mutual fund company

and i have a consulting business

y'all keep doing whatever works for you
Click to expand...

And still one of the most uninformed people that I know.
 
Top story this morning on NorthJersey.com was how Trump’s vow to lift the SALT deduction cap will help New Jersey. Just one of Trump’s many dumb economic ideas/pandering attempts on the campaign that I’m hoping he’ll forget, but unfortunately the groups who were pandered to might not let him.
 
Not beating the money printer means you're getting poorer. Trump of course will continue the printer

BTC

[TW]1854604073565405312[/TW]
 
Steve Madden says they will take 45% of ops out of China.

What happens to conventional wisdom when prices don’t go up?
 
thethe said:
Steve Madden says they will take 45% of ops out of China.

What happens to conventional wisdom when prices don’t go up?
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https://www.cnbc.com/amp/2024/11/07...ina-sourcing-as-trumps-tariff-plan-looms.html

Over the past few years, he said, it's looked for factories in other countries, including Cambodia, Vietnam, Mexico and Brazil.

"As of yesterday morning, we are putting that plan into motion," he said Thursday. "And you should expect to see the percentage of goods that we sourced from China to begin to come down more rapidly going forward."
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Forgive me if I’m not willing to join in your enthusiasm for the upcoming job market in Cambodia.
 
thethe said:
I’m all for robust markets outside of communist dictatorships. But expect more production from all manufacturers to come back to America with nominal if any prices increase.
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https://www.hrw.org/report/2015/03/...abor-rights-abuses-cambodias-garment-industry

Buddy, you’ve thus far found a single clothing manufacturer looking to move to operations to another place they can exploit cheap labor. I guess at least it’s not Commies doing this to Cambodian garment workers though. Progress!
 
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