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

nbcnews.com

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

#151

Post by malfist »

WarmWash wrote: post #132
glaslong wrote: post #66

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 are already better systems of healthcare. The US one is only good if you're wealthy

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

#152

Post by Noaidi »

natsucks wrote: post #140
europoorean wrote: post #119

Earlier quoted context omitted.

As a physicist, I always shed a tear when looking at data without error bars. As a data scientist/generic programmer now, I don't really see them anywhere. I remember a colleague during my postdoc saying 'don't worry, no error bars in industry' when I asked about regression with ML lol

hah. it's true. no interest in uncertainty except when forced.

Our fake economy needs even more fake certainty now. They are all hiding from the obvious issue of stagflation because it is the most difficult economic problem to solve. The Fed know this which is why they did nothing with rates.

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

#154

Post by biophysboy »

astro1234 wrote: post #105

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

The bureau of labor statistics publishes confidence intervals in their reports

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

#155

Post by eigenspace »

bluGill wrote: post #129
eigenspace wrote: post #97

Earlier quoted context omitted.

No, I mean on an age-corrected basis, throughout the spectrum of ages. i.e. young americans are spending more on health care than young americans used to, even if it's also true that there are fewer young americans now, and more old americans.

There is a lot more to spend it on. I'm gen-X, ADHD wasn't even heard of by most people until I was in college, and then it was only diagnosed/treated in the worst cases. Today most kids I know are on some medication for ADHD. A few years ago a friend of mine was told "too bad you are not 25 - I know what treatment you need but we can't give it to someone over 25" - he went to the Mayo clinic for his condition at 23…

Sure, this is of course true, but there's also a reason that Americans spend way way more on their healthcare than any other developed nation, and it's not that they have better healthcare, or more healthcare options.

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

#156

Post by eigenspace »

IncreasePosts wrote: post #116
eigenspace wrote: post #97

Earlier quoted context omitted.

No, I mean on an age-corrected basis, throughout the spectrum of ages. i.e. young americans are spending more on health care than young americans used to, even if it's also true that there are fewer young americans now, and more old americans.

Part of the Obamacare mandate was forcing young men into health insurance policies when in the past they had a much higher opt out percentage.

Sure, but that's not what's driving these increases in costs.

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

#157

Post by pgwhalen »

renegade-otter wrote: post #114
astro1234 wrote: post #105

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

The numbers are as good as they can get with hard manual work that goes into compiling them. The problem is that small businesses lag by 1-2 months reporting them, so the initial number being reported is almost always irrelevant, as it mostly applies to numbers coming out of larger corporations.

I think you say “as good as they can get with [the] hard manual work that goes into compiling them” as a way to respect the challenge of the BLS and say they’re doing the best with their resources, but it’s worth pointing out they could be better with more resources.

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

#160

Post by paulryanrogers »

zuzululu wrote: post #153
purplemoonx wrote: post #137

[flagged]

with inflation under control there is little incentive to raise rates and not enough to cut, consensus is that fed will hold in the meantime stock market is going to do another major boom cycle

Inflation of certain luxuries may be under control. That's cold comfort to households with two jobs per adult just to make rent+healthcare+food.

> in the meantime stock market is going to do another major boom cycle

Citation needed

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