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US economy unexpectedly sheds 92k jobs in February

bbc.com

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Re: US economy unexpectedly sheds 92k jobs in February

#71

Post by sailfast »

SecretDreams wrote: post #20

Crazy thing is people will vote for this again. Some against their best interest. Others because they appreciate the divide that comes from this type of admin.

I don’t believe they will. They will be thrown out soon enough and hard - but the incumbents will fight like hell to make sure people’s voices are silenced, diluted, or not counted.

Re: US economy unexpectedly sheds 92k jobs in February

#72

Post by dmos62 »

testfrequency wrote: post #4

I do not see the tourism industry mentioned here but I have to imagine that is a huge loss right now. Most of the world is not visiting the US right now which means projects and planning that was made in anticipation for summer has probably been halted or heavily reduced.

An acquaintance had his phone taken away at a US airport by a border guard (or whatever you call them) for inspection. The guard went through his messaging apps, read chats. I understand the necessity for occasional physical searches for contraband or what have you, but reading private conversations is beyond what I can stomach. That, together with the infamous case of some guy being forbidden entry to US because he had the wrong meme on his phone, feels like Soviet Union bullshit. Actually, now that I mention this, reading my messages is fine compared to looking through my photos. I find it insane that this is happening in a first world country. I'm not a fan of hyperboles, but, man, this is just like what I'm told Soviet Union was like. I think I'll be skipping events in US for the next decade or so.

Re: US economy unexpectedly sheds 92k jobs in February

#75

Post by TwoNineA »

zelphirkalt wrote: post #62
cheesecompiler wrote: post #29

Earlier quoted context omitted.

There is a significant majority of people in Canada who not only vocally decided to not go to US but discourage their friends from doing so too. People have judged me for driving through the states.

Seems like many people here in Germany also don't want anything to do with the US any longer as well. I myself wouldn't go to the US, even before Trump, and recently also heard from someone else, who wants to travel around the world, that they will not be visiting the US, due to what is going on over there. Just 2 anecdotes, N=2 of course, but I can imagine many people sharing the worries or concerns about visiting t…

Statistics Canada has over the last year shown that tourism to US from Canada is down by a lot and it's not getting better. Hell, as an anecdote, I keep seing ads on TV like: Come to Disneyland! We got rebates for canadians!

Edit, didn't realise it was this bad:

https://www150.statcan.gc.ca/n1/daily-quotidien/260223/dq260...

Re: US economy unexpectedly sheds 92k jobs in February

#78

Post by btown »

paxys wrote: post #13

If the government-approved numbers are this bad the real ones must be catastrophic.

In all seriousness, I’m unsure that official job numbers (even if they weren’t intentionally distorted, which is a big if these days) have caught up with the gig/creator economy. If a person making ends meet with food delivery and a few dollars of ad revenue is classified as “self-employed,” is that the same level of stability and ability to keep up with cost-of-living increases (which may outpace traditional inflation) vs. self-employed freelancers with clients? Which isn’t to cast shade on those paths, but it’s meaningful to the metrics we choose to follow.

Re: US economy unexpectedly sheds 92k jobs in February

#79

Post by myrmidon »

imzadi wrote: post #7

I would like to know how much contraction is normal. I assume there's always some contraction around that time, because the holiday season is ending and the temp workers are being let go. I didn't see any mention of this in the article though (or I missed it).

Looking at seasonally adjusted somewhat longer term trends, unemployment appears to be rising somehwat continuously for two years now:

https://fred.stlouisfed.org/series/UNRATE/

I'd say the article overstates its point somewhat. The numbers (rise in unemployment) don't look to be caused by Trump alone (trend started before), but he most certainly did not improve the situation in his first year (numbers grew worse instead of better).

But the absolute numbers (for now despite trending in the wrong direction (and all of Trumps policies seem to make things worse so far).

Re: US economy unexpectedly sheds 92k jobs in February

#80

Post by abirch »

TheGRS wrote: post #63
ChoGGi wrote: post #5

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

And indeed they are doing just that! On top of a war that will also affect energy costs.

Not only that, Iran is attacking Saudi and friends infrastructure so that they have to use their capital there and not invest in the USA's AI nor government debt.
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