Jobs and spending: The dems and biden brag about increase in jobs numbers and lower unemployment. And they are correct. Jobs are up about 4% . But they neglect to mention that...

boberic Loc: Quiet Corner, Connecticut. Ex long Islander

The dems and biden brag about increase in jobs numbers and lower unemployment. And they are correct. Jobs are up about 4% . But they neglect to mention that inflation is about 6%. So that means that the people's spending power is DOWN about 2 % The difference may not be all that radical, but bragging that the economy is better Because biden is president is a typical political $hit storm

Architect1776 Loc: In my mind

boberic wrote:

The dems and biden brag about increase in jobs numbers and lower unemployment. And they are correct. Jobs are up about 4% . But they neglect to mention that inflation is about 6%. So that means that the people's spending power is DOWN about 2 % The difference may not be all that radical, but bragging that the economy is better Because biden is president is a typical political $hit storm

thom w Loc: San Jose, CA

boberic wrote:

The dems and biden brag about increase in jobs numbers and lower unemployment. And they are correct. Jobs are up about 4% . But they neglect to mention that inflation is about 6%. So that means that the people's spending power is DOWN about 2 % The difference may not be all that radical, but bragging that the economy is better Because biden is president is a typical political $hit storm

The inflation is probably because the economy is good enough that purchasing is up over 10%. I got the increased spending from the radio so I can't link to it.
You can't subtract inflation from an increase in jobs. You could subtract inflation from an increase in wages, but that isn't what you did.

aphelps Loc: Central Ohio

thom w wrote:

The inflation is probably because the economy is good enough that purchasing is up over 10%. I got the increased spending from the radio so I can't link to it.
You can't subtract inflation from an increase in jobs. You could subtract inflation from an increase in wages, but that isn't what you did.

Of course the dollars spent are going up because the prices of everything are going up. That's the definition of inflation.

boberic Loc: Quiet Corner, Connecticut. Ex long Islander

thom w wrote:

The inflation is probably because the economy is good enough that purchasing is up over 10%. I got the increased spending from the radio so I can't link to it.
You can't subtract inflation from an increase in jobs. You could subtract inflation from an increase in wages, but that isn't what you did.

Fair enough. But an increase in jobs IS an increase in income. Perhaps not individual wages but an overall increase in income. If you earn 20 bucks more but your expenses are 22 bucks you have less spending power. Take a look at used car prices. gas, groceries, building supplies etc etc

Shutterbug1697 Loc: Northeast

boberic wrote:

The dems and biden brag about increase in jobs numbers and lower unemployment. And they are correct. Jobs are up about 4% . But they neglect to mention that inflation is about 6%. So that means that the people's spending power is DOWN about 2 % The difference may not be all that radical, but bragging that the economy is better Because biden is president is a typical political $hit storm

How can an increase in the NUMBER of jobs filled be compared to the actual inflation rate?

You're comparing apples to elephants!

Purchasing power has nothing to do with the actual number of jobs filled, except for the fact that money is flowing in from an employer instead of from unemployment benefits.

The bigger question is, are those "new" employees making more or less than they were at their previous jobs?

Are they underemployed as so many were during trump's time in office?

How many of those "new" jobs are now full-time jobs as opposed to having to hold down multiple part-time jobs during the time trump was in office?

FrumCA

Shutterbug1697 wrote:

How can an increase in the NUMBER of jobs filled b... (show quote)

I couldn't find the answer to your last question in the BLS data. Do you have a number?

DennyT Loc: Central Missouri woods

thom w wrote:

The inflation is probably because the economy is good enough that purchasing is up over 10%. I got the increased spending from the radio so I can't link to it.
You can't subtract inflation from an increase in jobs. You could subtract inflation from an increase in wages, but that isn't what you did.

Absolutely correct apples and oranges . Entirely different metrics

Shutterbug1697 Loc: Northeast

FrumCA wrote:

I couldn't find the answer to your last question in the BLS data. Do you have a number?

That's why I asked the question.

Under trump there were a lot of "underemployed" people in the workforce.

My guess is that the current figures will reveal that people have moved into higher paying jobs, enabling them to work only one job, as opposed to working multiple jobs without benefits during trump's time in office.

I know that's the case for me personally. I went from working 2 jobs to barely scrape by supporting two people, to working just one corporate job to support myself, and to be able to afford a new to me used vehicle, paying cash for it. My pay rate has nearly doubled over the last 9 years, but the biggest jump has been over the last 4 years. It had nothing to do with trump, I earned a college degree, and actively pushed very hard for pay increases with each new job.

State laws which stopped employers from asking what someone previously earned also helped with my aggressive pay increases, but not every state has those protections. Nor the aggressive annual minimum wage increases in the State which I choose to work in.

Yes, I pay higher State income taxes, but those higher taxes also provide much better benefits on the other side, especially if you needed to file for unemployment benefits!

I have a choice of states to work in, living just a mile into my current "home" state, so I choose to work in the neighboring state.

It's the cost of affordable housing which took me to where I currently live. It would triple my housing cost if I were to move back into my employment state for a comparably sized rental, which is just under 1,000 Sq. Ft.

You get what you pay for!

If you want lower taxes, you get lower quality benefits!

thom w Loc: San Jose, CA

boberic wrote:

Fair enough. But an increase in jobs IS an increase in income. Perhaps not individual wages but an overall increase in income. If you earn 20 bucks more but your expenses are 22 bucks you have less spending power. Take a look at used car prices. gas, groceries, building supplies etc etc

That is not the case you tried to make.

thom w Loc: San Jose, CA

aphelps wrote:

Of course the dollars spent are going up because the prices of everything are going up. That's the definition of inflation.

Perhaps I should have used the word "demand" rather than "purchasing". I'm sure that is what I heard, I just erred.

Architect1776 Loc: In my mind

thom w wrote:

The inflation is probably because the economy is good enough that purchasing is up over 10%. I got the increased spending from the radio so I can't link to it.
You can't subtract inflation from an increase in jobs. You could subtract inflation from an increase in wages, but that isn't what you did.

Printing money is inflation.
Ask those who lived through the Weimar Republic (Now days that would be writings or Those who talked with them)
My neighbor when I was growing up was an interesting old German named Otto Witt.
Sailed on sailing ships, Saw inflation and gave me some of those 10 billion Mark bills.

anotherview Loc: California

Currency loses a degree of value under inflation. Said another way: Over time, a good or a service costs more for the same thing.

aphelps wrote:

Of course the dollars spent are going up because the prices of everything are going up. That's the definition of inflation.