this post was submitted on 07 Jul 2023
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65
The U.S. added 209,000 jobs in June, showing that hiring is slowing but still solid (www.npr.org)
submitted 1 year ago by MicroWave to c/news
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[–] New_account 5 points 1 year ago (1 children)

Looks like the markets are pretty apathetic to the news today. Economists had expected 225K jobs added, so the 209K is a little below expectations, but not a huge miss. Unemployment remains at a very healthy 3.6% mirroring the pre-pandemic landscape with one of the lowest rates in decades.

I wonder how much of this low unemployment is demographic. Aside from the pandemic, the last decade has been marked by increasing Baby Boomer retirements (in 2023, the youngest Boomers turn 59, and the oldest are 77). While that large cohort is leaving the workplace, the cohorts behind it are smaller (in relative terms, not absolute terms), so there are more roles to fill with fewer people to fill them. That allows employees to be choosier when looking for jobs, which has been great for the average worker.

[–] afraid_of_zombies2 1 points 1 year ago

The real unemployment rate is much higher https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm

Take 3 adults. Before 2008 2 of them had a job and the other didn't. Since that time it has fallen even lower. Most of the loss being from prime age and the young dropping out of the workforce, but hey if we keep blaming it on retirement maybe we can ignore the problem long enough that we don't have to fix it.

Our government makes life hell on earth, our economists tell us that it can't be any other way.

[–] MicroWave 4 points 1 year ago (1 children)

Overall, the jobs data shows a labor market that continues to hum along in some sectors, but is slowing down in others in a sign that the Federal Reserve's aggressive rate hikes to fight inflation and having some impact though the job is far from done.

Employers continued to add jobs in health care, business services, and construction. But retailers cut jobs last month, and factory employment was relatively flat.

[–] afraid_of_zombies2 1 points 1 year ago (1 children)

I wonder what business services are code for. Tax evasion?

[–] onionbaggage 3 points 1 year ago

Handjobs

[–] Chickenstalker 4 points 1 year ago (1 children)

>209,000 jobs

How many of this is actual openings vs companies and hiring agencies putting up fake job offers in order to harvest personal data?

[–] graphite 1 points 1 year ago

companies and hiring agencies putting up fake job offers in order to harvest personal data?

oooof

[–] [email protected] 1 points 1 year ago

Help I work 3 jobs but none will let me do full time for benefits