Where The December Jobs Were: Minimum Wage Deluge Continues
Earlier we gave a big picture explanation how the US can add 292,000 while average hourly wages actually decline. Below is a more nuanced answer, looking at the breakdown of jobs by industry in December. It will probably come as no surprise to anyone that for another consecutive month, the well-paying jobs: mining and logging, wholesale trade, manufacturing, and information barely posted a net increase.
Alternatively, the worst quality jobs continued to soar, pushed higher once again by none other than education and health, where Obamacare was once again instrumental to propel healthcare jobs by a 52,600 surge in December.
The rest was just ugly: temp help soared by 34,400, while waiter and bartenders added another 36,900. The one surprising, and positive outlier: construction jobs - traditionally a well-paid category - soared by 45,000, something very unexpected for the otherwise freezing month of December. This, however, is easily explained by two words: warm weather. As Goldman admits, "Construction employment rose by a firm 45k, a gain we suspect was helped by warm weather. " This means that in January once the weather effect wears off, all these jobs will be lost and then some.
Finally, employment of "couriers and messengers" gained 15k, likely reflecting seasonal adjustment challenges related to secular growth in online holiday shopping. The flip side: thousands of malls are going empty, and soon to crush the CMBS market.
The full breakdown is below.
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The Ponziconomy marches forward!
"We're all going to die!" climate change headlines to compete with "We're all going to live forever!" rainbows and Leprechauns headlines.
Mass hysteria, mob delusion, and rampant corruption as the New Rome lurches toward self-destruction.
… This, however, is easily explained by two words: warm weather.
If weather has become such an important factor, requiring double and triple adjustments, why doesn’t the omnipotent Fed try manipulating weather directly?
They could start with prohibiting El Niño in the Pacific or voting unanimously for the temperature decrease in the Arctic. ;-)
Looney
I can ufortunately see a time in the not too distant future when we will all be begging for one of those min wage jobs
The world needs ditch diggers, too.
https://www.youtube.com/watch?v=eiRGRvE_Wqg
For every ditch digger a ditch filler needs to be hired. These are indeed shovel ready jobs. Somebody tell Ovomit.
The Fed has the Illuminati to take care of the weather manipulation.
Shocking that Education and Health... two industries almost entirely supported and run by the government... would be top of the list.
It's just magical that way.......
EPA is doing it's part to keep mining at the bottom..
Debt serfs without a Robin Hood.
But...but...but...Trump is going to fix everything, right? Right?!?!
Yo yo yo ,Obama said it first ,fo shizzle my dizzle.Have your shovels ready,but they are for our graves not jobs.Oh wait,gravediggers,that is a job,sorry.Carry on.
Yet CNBC runs headline asking if more jobs mean voters will be less likely to vote for chance. Yeah, voters love working 2-3 jobs just to put food on the table.
I work a second job by choice, not necessity. That would be a rough predicament knowing you have to keep both just to live.
Count me in also working two jobs
Well it will stop terrorism and blm terrorism because,well,you know ,they just need jobs.
Is drone employment in that figure ...that and Hoverboards should be way up
So we added a lot of diaper changers for aging boomers, and temp help.....foward my niggas!
We underemployed some folks...
and that's today's "skilled" americans.
We need a petition to prosecute the Fed for 'crimes against humanity', and financial fraud.
Bernanke and Greenspan to be locked-up for their crimes too. The millions of dollars these crooks have earned since they left the Fed should be taken as fines and punishment, to offset their expenses in prison.
These criminals run free, and earn speaking fees and 'consulting' fees as the public they were supposed to serve, suffers from their corrupt policies.
Calls for their heads will grow louder when this tower of babble finally crumbles, and the riots start.
All of their crimes that we know of (and will find out about) must be accounted for.
Yea sure, we'll like all sign it and give it to that pos attorney gen e ral lynch and I'm sure she'll prosecute.....
somewhere,,, over the rainbow... way up high and the dreams that you dreamed of once in a lullaby.... !!!! ????
There's no doubt that Obama has fulfilled his promise of achieving full employment, prosperity, robust growth, and hope ...
(hope man)
(hope someone kills me - because this "utopia" Obama is building sucks)
There's another name for this? FALLING LIVING STANDARDS.
just raise minimum wage, by law, to $75 per hour
problem solved
next...
I've said that to people before to try and make a point and they've just stared at me for a moment like a deer in the headlights before promptly agreeing, and then asking why that has not happened yet.
Fucking amazing how stupid people are.
this too, is bullish.
Welcome to your first day of training for your new job.
Now, repeat after me, "Shine ya shoes for ya mister."
But...I don't know nuthin' about birthin' no babies Ms. Scarlet...
Wait,I thought blacks knew everything and we stole all knowledge from them.
Hamburger Helper Jobs. Because that's all you can afford.
Marketwatch headline story: "Jobs report helps build case for March rate hike".
ROFLMAO! Sure! Go ahead! Let's go for 6%! Green shoots! Mustard seeds!
You can't make this shit up; the hive mind is completely delusional.
Our societal mindset is that of a heroin addicted bi-polar Peter Pan!
Never doubt the criminality of the progressive mind. On display for all to see.
Grimaldus
"The one surprising, and positive outlier: construction jobs - traditionally a well-paid category - soared by 45,000, something very unexpected for the otherwise freezing month of December. This, however, is easily explained by two words: warm weather. As Goldman admits,"Construction employment rose by a firm 45k, a gain we suspect was helped by warm weather. " This means that in January once the weather effect wears off, all these jobs will be lost and then some."
'Whether' it was warm weather or cold weather, the $contracts for those construction jobs were already signed - meaning, work was 'in the can' regardless. The question isn't the weather, in this case. It is: What is the underlying dynamic in play that is fueling these construction jobs in the first place, and is it sustainable?
Yep,,, build all those houses poor bastard millennials and X'ers can buy at no money down and no payments for ten years.
Jobs....
hilarious.
lol like they fucking care if you eat. Its a free for all now. THANK GOD !!!!! Only the strong survive !!!!
I can bet there will be no stories about warm being good.
Part time work, temporary assignments and dead end jobs. Welcome to McJob Nation!
I got this awsome idea. Lets ship all our jobs overseas. Then create the biggest debt bubble in history to mask it. Meanwhile, loot the treasury blind and invite a few million more Mexicans to act like locusts. As a plus, stick a fat finger up the Russians bears ass while Hillary cackles and runs for President. Did I miss anything?
Yes. Add spend a trillion dollars of so, and waste thousands of lives over oil in the ME, while fomenting and creating an enemy making the US less safe than the days before the hijinks of Nine Eleven
And, bring in tens of thousands of Muslims with a few terrorists scattered in to keep the American people scared, destroy the existing society and keep them dependent upon government for protection.
You pretty much nailed it except for getting the "immigrants" from the Middle East that plan and execute organized mass rape.
If we haven't ALREADY done everything wrong, we STILL are trying our best....
Have you done any of the following today?
1) Clubbed a bankster?
2) Clubbed a politician?
3) Clubbed a FedGov worker?
4) Clubbed a baby seal?
Standard Disclaimer: I promise to only chastise your actions if you answered "D"...
Meh...
Anybody remember the "Montreal screw job"?
This is the Washington screw job.