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Drudge Retort: The Other Side of the News
Saturday, December 09, 2023

U.S. job growth accelerated in November while the unemployment rate fell to 3.7%, signs of underlying labor market strength that suggested financial market expectations of an interest rate cut early next year were probably premature.

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The bankruptcy-prone orange pedo's 15% u/e rate is looking more impressive by the day.

#1 | Posted by reinheitsgebot at 2023-12-08 12:56 PM | Reply

Thanks DARK BRANDON

#2 | Posted by Nixon at 2023-12-08 02:20 PM | Reply

Looking forward to hearing from all the Righties about how this is actually bad for America and the Biden Administration.

#3 | Posted by bartimus at 2023-12-08 03:47 PM | Reply

Mark Zandi
@Markzandi

8h
Amazing! The job market's performance is extraordinary. From today's job report: lots of jobs, steadfastly low unemployment, sturdy non-inflationary wage growth, rising participation and boomy labor force growth. Nothing in today's report suggests recession. Just the opposite.

This is awful news for the execrable MAGAts.

#4 | Posted by reinheitsgebot at 2023-12-08 05:14 PM | Reply

My question on this would be how many of these jobs aren't full time jobs and how many of them pay a living wage? Also, how many workers are holding down more than one job, given the state of the economy?

I've learned to be a bit wary of official figures.

#5 | Posted by BBQ at 2023-12-09 09:58 AM | Reply

When you get into the details of this report it looks even better for American workers than the headline indicates. Labor market participation increased. Wage growth outpaced inflation. Long time unemployment decreased. Part-time employees who would prefer full-time work decreased and on a related note the average hours worked per week increased.

#6 | Posted by johnny_hotsauce at 2023-12-09 02:15 PM | Reply

Unemployment rates for working Americans should be one to 2%.

#7 | Posted by Tor at 2023-12-09 02:22 PM | Reply

More devastating news for Biden and the Democrats. We should elect more Repubicans, that number should be at least 14%...

#8 | Posted by chuffy at 2023-12-09 10:11 PM | Reply

@#8 ... More devastating news for Biden and the Democrats. ...

Well, I wouldn't say "devastating" but, while it seems to be good news, it also shows the economy is still chugging along quite strongly, contributing to inflation.

So, now the Fed is in focus.

How does the Fed bring inflation back to the 2% range without causing a [severe] recession?

Are the high interest rates we are currently seeing, high interest rates put into place to try to tame inflation, going to be in place longer than expected? Will they be raises even higher? (can you say, cost of mortgages? I knew you could)


A strong employment is Not A Good Thing for the Fed's goal of taming inflation.


Next week we get the Fed's decision of rates and their discussion why.

This ain't over, not by a long shot.


#9 | Posted by LampLighter at 2023-12-09 10:25 PM | Reply

This ain't over, not by a long shot.

#9 | POSTED BY LAMPLIGHTER

What ain't over? Economic reporting? It's never over.

#10 | Posted by johnny_hotsauce at 2023-12-09 10:29 PM | Reply

A strong employment is Not A Good Thing for the Fed's goal of taming inflation.

"US Inflation Rate is at 3.24%, compared to 3.70% last month and 7.75% last year. This is lower than the long term average of 3.28%."

#11 | Posted by YAV at 2023-12-10 10:32 AM | Reply

"Unemployment rates for working Americans should be one to 2%."

Why?

#12 | Posted by eberly at 2023-12-10 10:40 AM | Reply

You will notice that wages are rising as workers fight for wages that cover the cost of living. This is the start of stagflation.

As LAMPLIGHTER says, this ain't over by a long shot.

#13 | Posted by BBQ at 2023-12-10 04:35 PM | Reply

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