The Bureau of Labor and Statistics (BLS) has released the May jobs report {DATA HERE} showing a net 390,000 jobs added overall.
The leisure and hospitality sector gained 84,000, as restaurants and hotels appear to be recovering from the massive pandemic losses. However, within the reporting there is concern about the sectors that are now showing signs of increased employment weakness, including 61,000 job losses in retail.
The unemployment rate remains the same at 3.6% in May. About 330,000 people joined the labor force, however the participation rate remains below prepandemic levels.
Most analysts like the Wall Street Journal are explaining the contradictory sector specific numbers by saying, “Consumers, who loaded up on goods such as televisions and furniture early in the pandemic, have started to shift their spending to in-person services such as travel or restaurant meals.” While there may be some truth to that outlook, it appears that most macro-perspectives are still discounting the extreme increases in price that are now baked into this new ‘transitional economy.’
Consumer purchasing is very prioritized because food, fuel, energy and housing are now eating up much more of the average person’s paycheck. People cannot pay 30 to 50% more at the gas station and grocery store and still retain disposable income for durable goods purchases. That’s the basic issue.
The durable goods sector shows the contraction in employment due to the loss in disposable income.
Here’s the main graphic [Table-B] showing where the jobs are being gained and where the jobs are being lost.
Destabilization program to weaken the US for ‘ reset ‘
Absolutely!
Don’t know who can afford to eat out anymore. Used to take our boys to Chick-fil-a on the way home after our weekly shopping trip; came to $23 and change for the lot of us. Now it’s over $33 and we’ll be lucky if we can do it once a month.
Last time I ate out was a modest 34th anniversary celebration for my best friend in Sept 2020, and who unceremoniously became ill shortly thereafter and died a few months later. I can reasonably expect to never eat out again since any restaurant is a good 20 miles away in town. Doesn’t make sense to spend ten bucks in fuel to do something I’m perfectly capable of doing at home.
Growing up with Depression era parents, we rarely ate out. I recently saw some pictures of ‘eating out’ for my confirmation (church stuff) and that was typical; special occasion. The lessons of poverty stuck with them even after they were comfortable and such things were affordable.
I kinda chuckled reading the jobs numbers, reminding myself that until Covid I hadn’t been a ‘number’ for over 40 years, being self-employed all that time and never having an unemployment claim. Tough times for a self-employed person are just tough times, not ‘jobless’.
Happy to not be part of that game at all and will never be again. Waste of health, skill and work ethic. Slave to their machine. Never again.
Chick fil a is expensive. And prices are up. Oh and the line of cars is 2 lines and 2 blocks long.
Every single other fast food joint has nearly NO line and nearly empty dining room.
Exception, starbucks, Panera and Dunkin expensive java lines are still there.
A manager at CFA said during covid, their sales even went up because of so many large delivery orders.
Because CFA is the only one that serves anything remotely resembling real food, as opposed to plastic and chemicals. They usually get the order right, too.
Just in time for gay pride month … we are ALL transitioning now!!!
Some to the other sex, but MOST of us to poverty!
Isn’t it just FABULOUS what the Left has done to America?
Group hug time!
We are spending the month….on a beach! ⛱️ in 🇲🇽. No tv allowed. We ignore these freaks…
The situation is far more bleak than what you see here. For example, imagine how dramatic the reduction in demand for new cars would be if there were no supply chain issues delaying production. What this market is serving is existing orders; demand 120 days out is quite a different story.
How convenient for the Davos crowd that they have the Chinese and Russians to blame for all of our economic woes. And how sad that a third or more of the American electorate believes the party line.
And now for the rest of the story. Let’s see how the private sector sees it.
ADP National Employment Report (adpemploymentreport.com)
Exactly! The BLS can’t be trusted anymore than the FBI.
Lot of companies use ADP for payroll. BLS relies on estimates and voluntary sampling.
Lemme guess – still not one job lost in government service. Veritible soothsayer I are.
The BLS jobs report for May shows whatever the Biden Democrats want it to show. To think otherwise is to forget the Russian Collusion Dossier Hoax!
Don’t forget the WEF said that buying items in person would be a thing of the past by 2030.
Oh…we’re all supposed to become hermits? Hermits hiding from each other in overcrowded warrens we have to rent from them? And I suppose we won’t be allowed to go out if we aren’t in full compliance with WEF dictates?
Where are these people working? Not in my neck of the woods. I have lost count of the people I talk to who are doing double duty bc they are short of help.
390,000 jobs Myass…. f*cking Commies!
You will own nothing and….
If you don’t own anything, doesn’t that correlate with not having a job?
The end stage of the great reset is 95% human culling. And when you are culled, you will indeed own nothing. You won’t even have to eat bugs. They will be eating you.
I’d like to cull 95% of all the people in DC.
I can’t see that sit-down restaurants and hotels will continue to do well either. Sure, the affluent will continue to dine out and spend on nice hotels, but the middle class, which has used their credit cards to take vacations, stay at nice hotels, pay for air fare to far away places, book cruises, even ones on which they took their two kids, will NOT be able to afford such things any longer.
The key here is whether or not the banks expand existing credit lines, freeze them, or even reduce them. If people max out their cards on indulgences, they are vulnerable to reductions in their credit rating, and in this circumstance the banks are unlikely in the extreme to extend additional credit. The average joe simply doesn’t have enough cash on hand to pay for a water heater busting, a transmission going out, or any one of the innumerable crises that life invariably sends our way.
A lot of that is because most people simply don’t know how to manage their money and have been conditioned by the marketing of lending institutions and credit rating bureaus to believe that debt is normal and even inevitable. If you don’t have money for something, then don’t buy it. It’s that simple. The stupidest thing you can do is put it on a credit card to pay off at a later date, because it only takes one unexpected event to put you behind for years.
Maybe some people need to pay by credit. Maybe it’s how they survive and keep a roof over their heads and food coming in. And, maybe they are living ‘within their means’ in a very, very modest house and buying only the staples but having to pay by credit is a necessity. Maybe they feel proud they can keep up their payments by their due date and being responsible enough to do that.
If you’re buying with credit, then you are not living within your means by definition. People who try to keep up with their payments are just one unexpected expense away from years of financial difficulties.
Wait until the fuel hedges expire in the airlines. Tickets will be unaffordable. Another airline bust is coming. No air travel, burns jet fuel…
Next up … the barter economy, all hidden from the prying eyes of the elitist rulers.
It will have to be a true barter system though since cash is going obsolete.
How long before the numbers are revised down?c
more .gov jobs for sure and associated contractors. and unions, of course. lets not forget grants to special interest groups. so they can hire people to protest, riot, and help with community organizing.
I look at that chart and have looked at the original today. I see the decline in retail sales and my opinion is that this has serious implications for the rest of the economy. If customers aren’t buying, there will be less hiring and more unemployment, which is a vicious cycle. The industries that supply those retail stores and markets will have rising inventories and will be letting workers go. That, in turn, will lead to fewer people working in service industries because people can’t afford services when they don’t have a job.
So “payrolls” are finally at the Jan pre-wuhan fru number.
But the “workforce” grows by 200,000 a month. New grads and illegals.
Wages per hour go up and employers get stingy and cut hours.
They not only have to “pretend not to know things”, they have to pretend not to see, hear, smell taste or touch things.
They have to DENY REALITY, and someone clearly not in touch with reality, is dillusional; they are INSANE.
Losing contact with reality, is inherently DANGEROUS to self or others, and for that reason people who are delusional are locked up, for their own safety, and safety od society.
We DO need “Red letter laws”, to protect society from those who insist they are a woman with a penis, murdering babies is a “right”, the 2020 Election was “the most secure in History”, “Trump IS a Putin agent”,” 100 percent compliance with Covid mandates will make everyone safe”, “Climate change is REAL, and we should totally upend our civilisation, to prevent the World temp from rising 1/10 ofa degree,..in300 F’ing YEARS”, Critical race “theory” is more than a load of crap, etc.
Deranged, dillusional,…INSANE. And, not only “running around freely in society”, but actually making and implementing policies, being “in charge” of our Governments and Institutions, is literally allowing the inmates to run the asylum.
WHY do we let them?
Why aren’t we rounding them up, and putting them in jackets with sleeves that buckle behind, and putting them in rooms with rubber wall paper?
I would like to round them up, but I don’t have the power to do so. My Congressmen won’t. I have no control over their representation of me and though I write them regularly, they invariably vote against anything I ask them to do. I have no control over the media, the DOJ, the Energy Department, or any tendril of government bureaucracy. I have no voice anywhere, no police powers, no access to government. My only small power is one vote among millions and in 2020, that was taken away from me by enormous fraud by the Democrats, by the Supreme Court which wouldn’t give states “standing”, by courts which refused to hear evidence, and by Congress which refused to hear objections due to an FBI/DOJ operation to discredit the president and anyone who stood for any further checking of voting irregularities.
Denying reality to the masses is not delusion on the part of our der leaders.
It is a tactic, a strategy. Biden and his masters are not delusional.
Do you think Stalin’s propagandists didn’t know what they were telling the masses was opposite of what was happening?
No, this strategy only works if the dictator and his propagandists know they are lying, otherwise they would be at the mercy of their delusions and never be able to hold on to their power.
What should we do? What should the hundreds of millions of dead people murdered by Stalin, Hitler, Castro, Pol Pot have done?
Do we blame them when their dictators had absolute control over their life and death?
I’ve been doing an informal survey. I check Disney World hotel availability and rates for June/July/August. The rates have not dropped yet, but there seems to be a lot of room availability at the resorts for the Summer months. I’m watching it to see when the crash occurs.
Let us know.
Where’s the money and who the hell is buying up houses.
So, we still haven’t gotten back to where we were.
These numbers come from the same vermin that declares the vaccine to be completely safe.
Any other questions ?
US Population 2022 – 334,805,269
US population 2020 – 331,002,651
Growth since 2020 – 3,802,618
SO, to make it easy, assuming that many also reached working age since 2020, job “growth” merely back to 2020 levels leaves us 3.8 million jobs short. Add in a few million illegals entering since then who aren’t counted (keeping in mind that the official estimate of how many illegals reside here is and always has been 20 million… /s) and things ain’t so rosy.