https://www.cnbc.com/2024/06/07/jobs-report-may-2024-us-job-gains-totaled-272000-in-may.html
Nonfarm payrolls were expected to increase by 190,000 in May, according to economists surveyed by Dow Jones.
Seriously fucking sick of hearing stats about numbers of jobs that completely disregard their quality.
Seriously fucking sick of hearing stats about numbers of jobs that completely disregard their quality.
What is your definition of a "quality" job?
Still waiting on the IT sector to recover. If I were of a conspiratorial mind, I would suggest the wealthy are trying to tank the economy temporarily (specifically in left-leaning spaces like much of IT) because that is the strongest predictor of election outcomes. But I just can't bring myself to believe they would all be able to coordinate that without someone trying to fuck the rest over. I suppose we'll see.
When my dumbest friends on social media and IRL were coming up and saying “oh I’m in IT just like you” I feel safe saying it wasn’t a conspiracy and just too many damn people in the field.
IT was particularly oversaturated, but STEM as a whole has been hit pretty hard. There's no startup money left so you either got established and are no doing government contracts, are somehow still convincing other billionaires to give you money because you're a billionaire(the last place I worked at), or just shut down. The tech bubble burst. With interest rates up and the economy on the edge, money is "better" put into buying real estate. Buy single family homes and rent them. Buy franchises for the land, sell the company, the lease the property.
Between ignorant leaders believing GenAI will replace ~30% of their workforce, covid over hiring, and shitty tax laws we got the shaft in IT.
Still waiting on the IT sector to recover
Its in the report:
"Professional, scientific, and technical services added 32,000 jobs in May, higher than the average monthly gain of 19,000 over the prior 12 months. Over the month, employment increased in management, scientific, and technical consulting services (+14,000) and in architectural, engineering, and related services (+10,000). Specialized design services lost 3,000 jobs."
great more jobs and the minimum wage is still $7.25 federally and worker's right are on a downward slide
break out that good champagne
great more jobs and the minimum wage is still $7.25 federally and worker’s right are on a downward slide
While there's likely some minimum wage jobs represented here, it looks like its a tiny fraction (spitballing, maybe 10% tops). Here's from the report:
"In May, average hourly earnings for all employees on private nonfarm payrolls increased by 14 cents, or 0.4 percent, to $34.91. Over the past 12 months, average hourly earnings have increased by 4.1 percent. In May, average hourly earnings of private-sector production and nonsupervisory employees increased by 14 cents, or 0.5 percent, to $29.99. (See tables B-3 and B-8.) "
You're not going to get $34.91/hour and $29.99/hour averages with lots of $7.25/hour mixed in.
Job growth doesn't mean shit if it's not accompanied by wage growth. They keep talking job numbers as if that alone pays the bills.
From the article
Regarding wages, average hourly earnings were higher than expected as well, rising 0.4% on the month and 4.1% from a year ago. The respective estimates were for increases of 0.3% and 3.9%.
"Congratulations peasants! Here are a quarter million open positions to have your labor value stolen and probably also your wages. Exploitation is freedom!"
Yes and Trump's
who do you think worked as one of the politicians who got us here?
who do you think one of the donors has been throughout the years to all these politicians?
Biden and Trump both benefit from wages being low and worker's rights stripped
And when they revised this down to 100,000 in a month or so, nobody will pay any attention.
