Drudge Retort: The Other Side of the News
Saturday, December 03, 2022

Job growth was much better than expected in November despite the Federal Reserve's aggressive efforts to slow the labor market and tackle inflation.



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Let's go, Brandon.

#1 | Posted by oldwhiskeysour at 2022-12-02 03:24 PM | Reply | Newsworthy 1

This just proves Biden is a terrible president.

Also, Biden had nothing to do with it.

#2 | Posted by Angrydad at 2022-12-02 06:12 PM | Reply

oh noooooooooes!

At this rate Jesus is going to come back just to let everyone know he supports Biden.

#3 | Posted by Tor at 2022-12-02 06:25 PM | Reply

The job growth is so strong, it is making it difficult to fight inflation...

US hiring stays strong, complicating Fed's inflation fight

...The nation's employers kept hiring briskly in November despite high inflation and a slow-growing economy " a sign of resilience in the face of the Federal Reserve's aggressive interest rate hikes.

The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a 53-year low, the Labor Department said Friday. November's job growth dipped only slightly from October's 284,000 gain.

All year, as inflation has surged and the Fed has imposed ever-higher borrowing rates, America's labor market has defied skeptics, adding hundreds of thousands of jobs, month after month.

With not enough people available to fill jobs, businesses are having to offer higher pay to attract and keep workers. In November, average hourly pay jumped 5.1% compared with a year ago, a robust increase that is welcome news for workers but one that makes the Fed's efforts to curb inflation potentially more difficult. On a month-to-month basis, wages jumped 0.6% in November, breaking a streak of smaller gains that had suggested that pay growth might be cooling.

The strength of the hiring and pay gains raised immediate concerns that the Fed may now have to keep interest rates high even longer than many had assumed. The stock market reacted with alarm, with the Dow Jones Industrial Average sinking nearly 200 points in mid-morning trading Friday....

The Fed seems to proffer a policy along the lines of 3% yearly pay increases with 2% inflation.

But if the job market seems to be as tight as the numbers show, well, the Fed's job has just become more difficult.

Happy Holidays, Fed Chairman Powell.

#4 | Posted by LampLighter at 2022-12-02 07:33 PM | Reply

My two part time jobs count double.

#5 | Posted by visitor_ at 2022-12-03 11:41 PM | Reply

Why do employers hate Republicans so much. They needed an wconomic meltdown to bring the red tsunamai theyhad been promised by that Nazi Tucker Carlson. Instead he looked like a moron making promises he coildn't keep,

#6 | Posted by danni at 2022-12-04 09:36 AM | Reply

"Job growth was much better than expected in November despite the Federal Reserve's aggressive efforts to slow the labor market and tackle inflation."

So the end result will be the fed continuing to raise rates. The rich will be able to the leverage their savings to make themselves richer while the working class will pay more for groceries.

We are in the early stages of repeating the 1970's again.

#7 | Posted by jamesgelliott at 2022-12-04 08:43 PM | Reply | Funny: 1

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