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Since January The US Has Added 294,000 Waiters & Bartenders, And Zero Manufacturing Workers
Here is one of the reasons why the Fed is confident the US economy is strong and resilient enough to sustain a rate hike: since January, the US has added 293,900 waiter & bartender positions and zero manufacturing workers.
Unless one is an economist, no further commentary is needed.
If one is an economist, we eagerly look forward to an extended discussion why one should focus only on the blue line and ignore the red one, debate the adverse impacts of the weather (both hot and cold) on manufacturing, listen to how the collapse of high-paying jobs is actually a good thing for low-paid food servers, and how this is merely a confirmation of the bullish split of the US economy into a growing services and a "slightly softer" manufacturing sector.
Here is the monthly change just in manufacturing jobs: three has been a decline in 3 of the past 4 months.
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Awesome, Merican's love to eat and get drunk on credit. bullshitish.
Cool, I didn't know that EBT worked in bars, 'cause the spending ain't coming from workers gettin' off the day shift.
These are all probably part time jobs anyway...to replace workers whose hours have been cut... because obamacare.
similar trends can be seen by comparing "vapor bar" to "exotic dancer"
https://www.google.com/trends/explore#q=vapor%20bar%2C%20exotic%20dancer&date=1%2F2009%2083m
hugs,
the exotic dancers and manufacturers association
Virtual people don't need to manufacture shit! We will sit on our asses and make muhnies!
BFD.
Since January Greece Has Added 294,000 Hookers!
Oh, America has added hookers to their economy as well. Don't doubt it for one second.
~"Since January The US Has Added 294,000 Waiters & Bartenders, And Zero Manufacturing Workers"~
Nothing like this is more likely to guarantee a Trump win next November. I'm not saying because I'm a Trump fan. (I think the man is a Mussolini.) I say it because he is the only one saying that it is ALL about 'merican MANUFACTURING, and the folks back home know it.
All levels of government added 473,000 jobs
(while the private sector lost 309,000 jobs).
All government, all the time... winning!
I suspect quite a bit of the restaurant and bar business is being buoyed by the student loan bubble. The kids are spending their loan money partying.
EBT is accepted at strip clubs and casinos everywhere......
and, in most states, you can get cash back for your shots and 'rillos.
The spending is coming from Wall Street and Corporate beneficiaries of Fed money printing.
Service sector non-jobs is where it's at......
http://beforeitsnews.com/conspiracy-theories/2015/12/road-to-ww3-time-to...
Discouraged former workers love to pay extra for their booze at a bar.
The internet and a bottle of bourbon is so '00's.
It's a recovery. Deal with it. /sarc
joobux for all you fucking peasants. Now go and make my high ball and grab my chili cheese fries goy.
"The thing that's really reassuring was construction was the number one sector of jobs growth," said JJ Kinahan, chief strategist at TD Ameritrade.
huh?
EDIT:
From bureau of labor
"Employment in construction rose by 46,000 in November, with much of the increase occurring in residential specialty trade contractors (+26,000). Over the past year, construction employment has grown by 259,000."where can i find the net growth rate?
who cares as long as the slaves are working
pretty much the reality at most work places
ooops....Exports fall to a 3-year low
http://www.reuters.com/article/us-usa-economy-trade-idUSKBN0TN1GM20151204
I can see the real value in a good waiter/waitress. Care to show us how many usless fucking paper-pushers we still have in banking and finance? What about their political fucking puppets?
If you want to cut some fucking fat, I have a few suggestions on where to start.
Sell now ES at 2077 ... The top is in!!!
Silly Tylers. You have it all wrong. Bartenders "manufacture" cocktails and waiters "manufacture" smiles on the faces of their happy customers. Stawks to da moon!
FedFUBAR.
We can all drink our sorrows away
Just don't expect a tip
11,000 of these servile positions is worth 269 points on the DOW
Who'da thunk????
I thought the inside scoop was that "no rate hike" was bullish for stawks, yet now "likely rate hike" is bullish. What an efficient "market" we have.
FUBAR.
Oh we are fubar or will be soon, stocks are just the shiney distraction.
CNN not buying the "common sense/fact/truth propaganda"
according to them, the obamaconomy is only getting awesomer by the minute. as the great coach bill parcells once said, "you can't teach dumb"
Good news: U.S. economy adds another 211,000 jobs - CNNMoney
http://money.cnn.com/2015/12/04/news/economy/november-211000-jobs-added-...
They are going to do rate hike.
Might as well say they are pulling life support plug of economy and going to let it flat line.
Economy will do OK/Good for first 2 - 3 months of rate hike and the collapse.
I still think by then they will find some excuse not to hike though.
With all the political puppets in the western governments completely bought-and-paid-for there will be many backdoor governmental programs that will essentially amount to more QE for all the insiders.
We are heading into the truly inflationary phase of this currency collapse. Still a long ways to go yet...
Have been seeing large groups of 20 something H1B Indians at the stores.
Companies have been flooding the US with H1B/L1 visa holders.
Replacing Americans with ever cheaper labor.
That and my age, is why I cannot find a decent job since 2012...I have had to reinvent myslef over and over, even in diffrent industries just to make ends meet. My retirement is long spent, and savings are dwindling fast. I had to create my own business from scratch to feed my family, now with Obombercare, I will be sending half my monthly income to care for my family...THIS is BULLSHIT!
Pretty damn close to my story.
Currently taking classes trying to re-invent myself again.
Retirement and savings? Health Insurance?
Hah!
I got laid off for the first time 8 days after the last election. Making ca. 150k working in the GOM. Took over a year to find another "real" job at U.S. Steel. Got laid off in March. Too old and not pretty enough to be a waiter, I live in a rural area so there's no bars to bartend. Hell, I'd open a bar, but the regulations...
I'm thinking that the best I'm going to find is an assistant manager job at McDonalds.
I feel for you rightwing, I can feel it right in my bones! I am also on every list there is by these fascists ruling this country with an iron fist, FUCK THEM!
Yes, we've got them here in New Zealand as well.
They are "students" looking to get permanent residency and citezenship by the back door.
I call them locusts.
They work for peanuts and bring down our local standards.
If a hamburger flipper, or a tray pusher can earn $15/hour I want $1,500/hour...
It is a matter of ones productivity and worth, and it would take a thousand of them to make one of me...they could not even carry my shadow, PATHETIC!
Yeah yeah, believe the govt lies all you want, the stawk casino is on fire, go buy your life savings in stawks, see where that gets you in the end.
True enough, there have been big gains, but it is based on lies and obfuscation, just like blackliesmatter, no difference there!
And, 2 million other jobss
A comment by Denninger alerted me to a comforting element in this morning's labor press release ... according to the Household Data, over the past year government employment has grown by 1,106,000 "jobs" (a 5.5% growth rate) while paid non-government employment (six times larger than government employment) has grown by 962,000 jobs (a 0.8% growth rate).
According to the Household Data, in the past month government employment has grown by 473,000 "jobs" non-seasonally adjusted (a 27.5% annualized growth rate) and 529,000 jobs SA (a 30.9% annualized growth rate), while paid non-government employment shrunk by 429,000 non-SA jobs (a -4.0% growth rate) and shrunk by 185,000 SA jobs (a -1.7% annualized growth rate).
The Establishment Data has private employment up by 2,566,000 over the past year (up 227,000 non-SA and up 197,000 SA last month) and government employment up only 84,000 in the past year (up 117,000 non-SA and up 14,000 SA last month).
The government has our back.
This and Fed raising the rate was all signaled by the jobs analysis a few weeks ago.
https://thinkpatriot.wordpress.com/2015/11/22/the-parable-of-the-press-r...
https://thinkpatriot.wordpress.com/2015/11/14/in-reality-everything-is-c...
9/11 was a False Flag Operation by the US government under control of Israeli-Neocons
.
.
Presumably the statistic is forged. The ever increasing number of restaurant personnel is not credible.
Not seeing a lot of new eating and drinking establishments opening up. Must be in DC and around Wall Street.
Poured out like water on the ground.
Idiots have no clue how many vendors our factory uses. When manufacturing dies so does our nation. Obama's endless regulations already has one foot in the grave.
Strange.
When i was in an LA restaurant last month i had to call for a waiter three times before one of them to noticed me.
I would have expected calling once and three turned up.
They're getting high in the back to kill the boredom of Service.
Well, this is the "consumer economy".
In the past Waitresses and Bartenders were hired as indenpendet contractors who recevied a 1099 tax form at year end. The States DOL has been cracking down on this and deeming these perople as employees and thus added as new hires eventhough no new jobs have been created. The same in the construction industry, film productions, and computer consultants. At least that is what is occuring here in NY.
'
'
'
Automation.
Yesterday, Microslop announced that in 5 years, computers will be able to 'talk' to users.
That's the key to AI and automation that we've been missing.
http://www.businessinsider.com/microsoft-chief-scientist-xuedong-huang-o...
We're toast.
•?•
V-V
Unless one is an economist, no further commentary is needed.
No, further commentary is needed. A person can cherry pick specific pieces of the jobs data released today to tell whatever story is wanted.
YOY (Nov 2014 -> Nov 2015) Jobs in thousands [from http://www.bls.gov/news.release/empsit.t17.htm]:
Food services and drinking places: 10,805 -> 11,182 = +377K jobs
Manufacturing: 12,290 -> 12,332 = +42K jobs
OMG, manufacturing is stagnant and everyone is just pouring beers for a living! But then omitted in the above chart is also:
Professional and business services: 19,507 -> 20,127 = +620K jobs
Education and health services: 21,912 -> 22,553 = +641K jobs
I don't get this obsession to obsolete idea of old-style manufacturing. Manufacturing is moving back to the US actually, just not the jobs. Machines do everything and each machine requires fewer operators, which is the only way to keep manufacturing competitive in today's market. If you make something and employ more people while paying them high wages, then the chances are you're going to have to charge a lot for whatever you're making and you aren't going to sell it.
Old manufacturing is gone. It's not coming back and when production comes back it has nothing to do with high playing jobs, so there is no reason to salivate over it.
@JuliaS
You are correct. The industrial and manufacturing fields have been changing rapidly. In the same way that companies like Nucor came along and put Bethlehem Steel out of business, old school manufacturing is going away, victim to innovation, cheap shipping and automation.
The business I am in has seem some re-shoring in the last several years as the costs of goods from China have been going up. Manufacturing will make a limited comeback but never again will it be the backbone of the economy.
The problem is that for several generations, we have been dependent on a model that is now going defunct. This has created a dependent class who would never admit to being "dependent." Most people think that working 5x52 for a company for 30-40 years is making it on their own. It isn't, it's just another form of dependency / welfare / slavery.
How will things look in the future? Even Nostrodamus couldn't guess.
One thing's for certain though, the current .gov is part of the old school way of doing business as well. They need to change as much as anything and get out of the Corporatists pockets.
Well, the truly independent will survive I suppose. I hope I'm one of them. =P
Bullish Slave Caste.
What do you have after you remove the " birth / death adjustment??
Ha ha ha, thats what I thought.
Its all about the pretending game that Janet and the FED like to play.
Fungoooooo
Let's all just serve each other and sing 'kumbaya'
SO SHOULD I BUY STAWKS SINCE EVERYTHING IS FUCKING AWESOME OUT THERE????
If you were to factor in the Birth / Death lifespan of restaurants, do we really have new jobs or just bartender and waiter gypsies?