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U.S. economy lost 23,000 jobs in July, a sudden reversal

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321–330 of 377 posts

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#321

[flagged]

Nonsense. We can and do downgrade folks from better to worse employment all the time, even moreso during this administration! Can't have the plebes unionizing or getting more compensation.

what is this comment? did you reply to the wrong thread or is this something worse?

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#323

Earlier quoted context omitted.

no they didnt

you're still wrong > Superintendent Peter Licata acknowledged that the takeover and instructional changes played a role in some educators’ decisions to leave the district. > ...But he said he believes employees watched the transformation of Houston ISD under state control and grew wary as Fort Worth introduced standardized lessons and reorganized schools and departments.

sure thats 'political interference' .

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#324
post #218

The deficit is 6% of GDP. Economic growth is 2%, if that. If the Democrats win the House and reduce spending, look out below.

Of the two parties, only one ever even says they want to reduce spending. Neither ever do.

The deficit fell dramatically 2009-2015.

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#325

As a data scientist it is very frustrating to see a consistent lack of error bars on these numbers or any discussion about the magnitude of uncertainty around them by all news reports every time these numbers get released

This should have nothing to do with data science but basic math literacy. Quantities without context are meaningless. Reporters should know better but if when headlines have to catchy day in day out … shrugs. Stock market reporters are the worst: a 1000 point drop in the Dow meant a lot more when it was 7000 than it does at 40,000.

Oh my god do not trigger me about the news reporting “points” for the DOW or the S&P, I have seriously considered calling news stations about this.

Or not providing inflation adjusted values when referring to historical financial reference points.

I have to go find a happy place now

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#326

Earlier quoted context omitted.

So perhaps we'll never get to a better healthcare+insurance market (nee "Free") through government, but eventually we will just all work in healthcare, and barter our nursing and dental skills in secret away from the insurance coders.

There will never be a better healthcare because the true cost of fixing a body more often than not far exceeds the value that body produces. People run to dismiss this with "well we need a different system then", but the problem is a fundamental one on par with "eating your cake and having it too". The only way to get as close as possible to "good" healthcare is to have enough money to pay for everything out of pocke…

There will never be a perfect healthcare system, sure, but the US healthcare system is just bad, and can be improved. We pay more for worse outcomes on average compared to most developed countries. Obviously it's just not working, I think it's indisputable at this point.

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#327

Earlier quoted context omitted.

What decisions are so important and time sensitive they depend on these numbers right after a month is over? And also we at one point were making decisions without these numbers yet the quality of the decision making isn’t clearly improved.

"What kind of stocks should my mutual fund invest in?" "What sort of startups should I fund?" "Should my business aggressively hire this quarter anticipating growth, or hold out for a possible recession?"

A few months of extra no data won’t impact the stock investments if no one has that data. Startup funding is similarly not so time sensitive.

As for businesses hiring, they should hire based on their own growth. Using an external signal that itself gets adjusted drastically is similarly problematic; I don’t hire because I think no one else is hiring and the numbers get majorly adjusted up. Similarly I hire a bunch of people and it turns out no one else hired.

No one benefits from faster numbers that are majorly shifted in a few months anyway. You wouldn’t make any different decision if no one had the numbers. The only thing you’re doing differently is when the numbers come out your gambling whether or not you think the true number will be revised in some major way in a few months. That’s not helpful for the economy writ large.

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#328

Earlier quoted context omitted.

It’s actually better to be average Western European than white and top 1-5% American: https://jamanetwork.com/journals/jamainternalmedicine/fullar...

To be fair, the structure of that study is pretty bizarre. Why only look at 6 specific illnesses rather than something like life expectancy?

They are looking at the outcomes of specific procedures because they are interested in the health care system quality. Looking at things like life expectancy would make it impossible to disentangle them from other factors like lifestyle or environment.

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#329

I love how this is immediately used as an excuse to reinflate the AI bubble. Silicon Valley and Wall Street are just begging for backlash.

Tech companies are mired in debt. They need interest rates to go down.

Higher unemployment makes it harder to raise interest rates.

Re: U.S. economy lost 23,000 jobs in July, a sudden reversal

#330
post #198

Earlier quoted context omitted.

Singapore has severe consequences for executives who violate the public trust. That makes it hard for sociopaths to rig the system for the elites.

Maybe. Though Americans are free to vote for politicians who make similar laws, too.

The people who make the laws are the wealthy who pay their think tanks and lobbyists to write them. Nobody gets elected without being owned by a puppet master.
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