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The Economy

Job Scare: ADP Says Businesses Added Just 99,000 Jobs In August, Manufacturing Jobs Shrank​

John Carney5 Sep 2024

The private sector’s payrolls grew by just 99,000 in August, paycheck processor ADP said Thursday. That’s the smallest increase since 2021 and a signal that the labor market may be softening more than expected.

“The job market’s downward drift brought us to slower-than-normal hiring after two years of outsized growth,” Nela Richardson, chief economist of ADP, said in a statement.

Economists had forecast a gain of 140,000. The prior month’s estimate was revised down from 122,000 to 111,000.
While natural resources and construction continued to add jobs, manufacturing shed 8,000 workers, according to ADP.

https://www.breitbart.com/economy/2...000-jobs-in-august-manufacturing-jobs-shrank/
 

Foreign Automaker Lays Off Thousands of Michigan Workers after Pocketing Hundreds of Millions in Biden EV Subsidies​



By James Lynch
September 5, 2024 8:19 AM

A multinational automaker prepared to lay off more than 2,000 American workers in August after benefiting handsomely from the Biden administration's subsidies for electric-vehicle production.

Stellantis, the parent company to famous brands like Ram and Jeep, has been awarded hundreds of millions in grants from the federal government to promote its EV manufacturing. But the Biden administration's largesse has not prevented the company from laying off American workers.

In July, the Department of Energy awarded Stellantis subsidiary Chrysler a $334.8 million grant to convert a shuttered Illinois plant into a facility for building EVs and another $250 million grant to make a ...

https://www.nationalreview.com/news...g-hundreds-of-millions-in-biden-ev-subsidies/
 
lessOHmo said:
Fact
Click to expand...

Why did you reply to yourself? That’s a sure sign of lunacy.

lessOHmo said:
You know as much about economics as Obama's and Biden's.And now harris's economic adviser who is in reality a music major and a social worker major in other words you both know shit

https://en.m.wikipedia.org/wiki/Jared_Bernstein
Click to expand...

Employment in the US continues to grow. You obviously struggle to understand words and numbers, so here’s a graph. Do you understand pictures? 😆

https://fred.stlouisfed.org/series/PAYEMS
 
Two stats are everything you need to know about the August jobs report:

Jobs for native born Americans over the last year: -1.3 million

Jobs for foreign-born workers over the last year: +2 million

Full time jobs: -438,000

Part times jobs: +527,000
 
WinSomeLuzSome said:
Two stats are everything you need to know about the August jobs report:

Jobs for native born Americans over the last year: -1.3 million

Jobs for foreign-born workers over the last year: +2 million

Full time jobs: -438,000

Part times jobs: +527,000
Click to expand...

We’ve discussed that previously in this thread:

MajorRewrite said:
Interesting.

Did you notice that in July 2024 the unemployment rate for native born workers is lower than for non-native workers, but in July of 2019 the unemployment rate for native born workers was higher than for non-native workers?

Unemployment rates

July 2019: Native: 4.2% Immigrant: 3.0%
July 2024: Native: 4.5% Immigrant: 4.7%

Also it looks like native born workers are aging out of the workforce. Their participation rate fell from 63.3% in 2019 to 62.3% in 2024.

https://www.bls.gov/webapps/legacy/cpsatab7.htm

Anyway, I’m sure you’re glad that immigrants are working instead of being a burden on society.
Click to expand...
 

Bidenomics Led To Over 1.3 Million Native-Born Americans Losing Their Jobs In August​

1 Comment / By Shay Bottomley / September 6, 2024


More than 1.3 million native-born Americans lost a job in August as all net job growth continues going to non-citizens.
Data from the Bureau of Labor Statistics was charted by the financial publication Zero Hedge showing a loss of 1.325 million jobs for native-born Americans in August alone. By contrast, the number of foreign-born workers increased by 635,000 during the same period.

https://wokespy.com/bidenomics-led-...e-born-americans-losing-their-jobs-in-august/
 
Rightguide said:

Bidenomics Led To Over 1.3 Million Native-Born Americans Losing Their Jobs In August​

1 Comment / By Shay Bottomley / September 6, 2024


More than 1.3 million native-born Americans lost a job in August as all net job growth continues going to non-citizens.
Data from the Bureau of Labor Statistics was charted by the financial publication Zero Hedge showing a loss of 1.325 million jobs for native-born Americans in August alone. By contrast, the number of foreign-born workers increased by 635,000 during the same period.

https://wokespy.com/bidenomics-led-...e-born-americans-losing-their-jobs-in-august/
Click to expand...

The unemployment rate for native born workers dropped from 4.5% in July to 4.4% in August.

The unemployment rate non-native born workers dropped from 4.7% in July to 4.3% in August.

That seems like both groups had a good month.

https://www.bls.gov/news.release/empsit.t07.htm

On a related note, the labor force participation rate for native born people dropped from 62.3% to 61.7%. This is caused by the aging population and all those Boomers retiring from the labor force. The number of native born people employed in the US is going to slowly decline because of demographics.

Also: you used the term “non-citizens”. That’s incorrect. The data is about people not born in the US. It doesn’t distinguish if they are citizens or not. Many are obviously citizens now.
 
Noitall said:
BLS has proven to be a FAKE NEWS orginization
Click to expand...

Forgot your tinfoil cap again?

If you post something stupid about Dollar General, maybe you’ll feel better.

Note: the BLS is the source of the data used in Comrade RightGuide’s comment and the comment you made (under your WinSomeLuzSome alt). 😆
 
Rightguide said:
Always best to ignore the truth when it slaps you on your double chin, right Rob.
Click to expand...
The economy continues to grow under the Biden administration, albeit the rate of growth has slowed in manufacturing.
Does this portend the End Of The World As We Know It, chicken little?
The reason I'm asking is because I Feel Fine.

:nana:
 
On Tuesday will someone ask ‘rump “Who pays tariffs?”9 He is basing his whole economic plan on the idea that other countries will pay 10% to sell their goods in the US.

Does his clan know the answer???

Of course manufacturers here like it. It’s not free trade. It makes it easier for the US manufacturers to sell their goods in the US, but not over seas! Tariffs don’t get them to lower prices here! Why would they? They can charge 5% more easily! They will have to if any part of their product has tariffs they have to pay.

We need a “School House Rocks” cartoon to explain this to Americans

Conservatives used to be all about Free Trade. Yes, other countries use tariffs, but our manufacturers don’t pay them. It makes it harder to sell our goods.

Shove ‘rump’s feet in the fire. Make him explain “Who pays a tarif?” Does he know?

You like inflation? Tariffs will raise your prices immediately? What is that extra money earmarked for? Is it guaranteed income for the government?? Did Trump use the extra income pay down the deficit??? Nope… he decided to take less money from the wealthy and hoped it would trickle down. US Companies bought back their own stock instead of all the things they could have done. CEO’s got to recoup the money
 
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