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US economy unexpectedly sheds 92k jobs in February

bbc.com

271–280 of 836 posts

Re: US economy unexpectedly sheds 92k jobs in February

#271
post #5

Unexpectedly, if you've been in a coma for the past year. Let's raise tariffs again.

[flagged]

I like your ethic of thinking critically regardless of who's in power.

Sincere question: do we have any stats on how (party in office) correlates with (government publications containing lies and/or misleading info)?

Re: US economy unexpectedly sheds 92k jobs in February

#272

Earlier quoted context omitted.

I'm really anticipating what the World Cup will look like. Sure, there will always be die-hard fans that will show up not matter what, but with so many teams, I bet we'll see empty stadiums for some matches.

I'm curious about the Iran match.

Most probably Iran will not take part at the tournament.

Re: US economy unexpectedly sheds 92k jobs in February

#273
Seems like a good time to enshrine human rights and the social safety net by ratifying the ICESCR (https://en.wikipedia.org/wiki/International_Covenant_on_Econ...) and giving human rights the teeth they need.

I used Anthropic to analyze the situation, it did halfway decent:

https://unratified.org/why/

https://news.ycombinator.com/item?id=47263664

Re: US economy unexpectedly sheds 92k jobs in February

#274
post #231

Earlier quoted context omitted.

So this. A year ago my wife and I did a road trip up into Canada (Kelowna BC region). It was a new experience. I’ve been up into Canadian provinces many times (20+ over the years), but because of the anti Canadian rhetoric that Trump and company were putting out at the time, I was embarrassed and eager for people to not actually know I was from the states. I was hyper aware of the Washington state license plates on o…

This is true in most scenarios, and the opposite is also true – that Americans are famously friendly, and even though Canadians may not want to visit to make a point, I think even they would agree that most day to day interactions they'd have would be warm and welcoming. There might be a bit more hockey ribbing for the next few weeks, but I know there's a ton of respect for Canada's team. At the end of the day, the i…

I am also a Canadian who has decided not to visit the US until further notice, and honestly, I'm sad about it.

In my 20+ years of regularly travelling to the States, I've almost always had great interactions with the people I've met in all parts of the US I've visited, and I've been all over. "Warm and welcoming" is a very good description.

I hope to be able to visit again in the future.

Re: US economy unexpectedly sheds 92k jobs in February

#275
post #108

Absolute numbers such as 92k do not give full picture. About half million jobs get added every month and there are 165 million people employed in USA.

> bout half million jobs get added every month

Not sure what number you are referring to here? 92K losses does _not_ show the full picture but no number that I know of is saying the half a million jobs are being added to the workforce every month.

Re: US economy unexpectedly sheds 92k jobs in February

#276
post #170

Earlier quoted context omitted.

The idea doesn't really make sense to me. We know LLMs increase productivity, especially for coding, but increasing productivity shouldn't make you fire people unless your business has already exhausted any potential for growth. Instead we would expect the increased productivity to grow businesses further and increase hiring for all other tasks that LLMs are still not good at.

In a shrinking economy there isn't much growth. They can take the productivity gains to shrink their payrolls and get the same output with fewer people That said I don't think there is a ton of productivity growth yet with LLMs that would show up in the numbers that are getting thrown around. Companies are just finally seeing that they have a bunch of people not doing much at all and cleaning house

Yep, no disagreements from me there. Ultimately, economic stagnation is what's driving job losses, not increased productivity (such that it is) from AI.

Re: US economy unexpectedly sheds 92k jobs in February

#278
Both the unemployment rate, at 4.4 percent, and the number of unemployed people, at 7.6 million, changed little in February. (See table A-1. See the note at the end of this news release and tables A and B for more information about the annual population adjustments to the household survey estimates.)

Among the major worker groups, the unemployment rates for adult men (4.0 percent), adult women (4.1 percent), teenagers (14.9 percent), and people who are White (3.7 percent), Black (7.7 percent), Asian (4.8 percent), or Hispanic (5.2 percent) showed little or no change in February. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) changed little at 1.9 million in February but is up from 1.5 million a year earlier. The long-term unemployed accounted for 25.3 percent of all unemployed people in February. (See table A-12.)

Both the labor force participation rate, at 62.0 percent, and the employment-population ratio, at 59.3 percent, changed little in February. These measures showed little change over the year, after accounting for the annual adjustments to the population controls. (See table A-1. For additional information about the effects of the population adjustments, see the note at the end of this news release and table B.)

The number of people employed part time for economic reasons decreased by 477,000 to 4.4 million in February. These individuals would have preferred full-time employment but were working part time because their hours had been reduced or they were unable to find full-time jobs. (See table A-8.)

The number of people not in the labor force who currently want a job changed little in February at 6.0 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job. (See table A-1.)

Among those not in the labor force who wanted a job, the number of people marginally attached to the labor force changed little at 1.6 million in February. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, decreased by 109,000 in February to 366,000. (See Summary table A.)

Re: US economy unexpectedly sheds 92k jobs in February

#279
post #192

Earlier quoted context omitted.

1/3 explicitly approve and 1/3 implicity approve. If my math is mathing, that's 2/3 and it's larger than 1/2.

It’s a large and incorrect assumption, and not mathing, to lump non-voters into supporters, especially when the administration is purging eligible voters.

Eligible voters should absolutely be lumped in as implicit supporters. Disenfranchised voters have been made ineligible so should not have been in the statistic.
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