The pundits are just not getting it. It’s the inflation, stupid.
The Bureau of Labor and Statistics (BLS) released the December jobs report today [DATA HERE] showing 199,000 job gains in December, approximately half of what was expected. Most financial pundits are perplexed as the employment rate drops to 3.9%, because many people have dropped out of the labor force. The labor participation rate remains unchanged at 61.9%.
Keep in mind, the November jobs report showed a decline in retail jobs of 29,000, and this report shows that despite November & December being the largest shopping months for holidays, the retail sector jobs were nonexistent.
The issue is what we have discussed here for months, inflation.
The job quits and JOLT turnover reports from last week showed massive numbers of employees quitting their jobs. In part this is pressure from the vaccine mandate (more on that later). However, in the majority what we are seeing is employment decisions based on inflation hitting the labor market.
Additionally, the current BLS report does not have the Omicron “winter of death” employment impact within it. That impact will come in the January report, and it will not be good. But let’s get down to reconciling December jobs data with reality on the ground.
Inflation is chewing up income amid the workforce. This is not debatable, and this is reflected in every opinion poll and economic statistic that has surfaced for the past six months. The BLS report somewhat surprised people in the 0.6% wage gains, and average wage increases are now 4.7% year over year. That should be a good thing. However, inflation at 20 to 50+% on energy, fuel, gasoline and food means a 4.7% growth in wages is a pittance.
Deep state operative Mary McCord (not named but transparently visible) and administrative insiders
After the U.S-China summit, used by cunning panda to size up the potential for backlash, anything China can do to further gain dominant position is now just a matter of easy chess moves on the board of dependency.
THE PROBLEM


Middle-class wage earners already know this problem; you are seeing it at the gas pumps and at the grocery store. Fuel prices are rapidly increasing and the amount of inflation in the ‘at home’ food industry (grocery store) is even more concerning.
♦ WHAT: As I look forward the likely origination point for military deployment will be federal COVID mandates, though it could also be state election issues. ♦ HOW: The hardline leftists are weaponizing the military for political benefit. ♦ WHEN: As a result of severe federal government intrusion it is only a matter of time before states start to rebel against federal COVID demands. That, in my opinion, will be the inflection point and posse comitatus will be suspended.