Nov jobs report: Robust 263K jobs added, wages jumped, 3.7% unemployment rate

[wbrocks67]

Thank you, Brandon! No recession in sight, much to the chagrin of many pundits and the press.

https://twitter.com/nytimes/status/1598673238111961088

[brucejoel99]

I, for one, would like to thank the economy for vindicating Powell truthers 😁

[Sir Mohamed]

Jobs, not mobs! Thank you, Mr. President.

[Hindsight was 2020]

Biden economy better than the Trump economy. Cope and seethe maga 😎 🍦

[MR DARK BRANDON]

Joe Biden has failed at giving this country a recession.

[Illiniwek]

So sick of all of this winning...

[Grumpier Than Uncle Joe]

This should not be a partisan issue, but everything is partisan today.  A healthy economy is necessary for all sides.  We still have some economic issues to work on but this is good news.

[It’s so Joever]

If by some miracle we actually do get a soft landing from inflation, pretty much the entirety of Atlas (including me) will owe a lot of apologies to Jerome Powell.

[emailking]

Biden did this.

[GP270watch]

October also revised up from 261k to 284k jobs!

[GP270watch]

If by some miracle we actually do get a soft landing from inflation, pretty much the entirety of Atlas (including me) will owe a lot of apologies to Jerome Powell.

 Wrong he's trying to engineer a recession and create job losses. Powell isn't happy about today's news. It's why the stock market is reacting negatively. 'Soft landing' is a euphemism and double speak. It's not a soft landing from inflation, it's an economic recession they are hoping won't be that "bad"

 Powell has no credibility he let Trump bully him from raising rates simply because Trump said he would fire him. Jerome Powell sucks.

[Dereich]

If by some miracle we actually do get a soft landing from inflation, pretty much the entirety of Atlas (including me) will owe a lot of apologies to Jerome Powell.

 Wrong he's trying to engineer a recession and create job losses. Powell isn't happy about today's news. It's why the stock market is reacting negatively. 'Soft landing' is a euphemism and double speak. It's not a soft landing from inflation, it's an economic recession they are hoping won't be that "bad"

 Powell has no credibility he let Trump bully him from raising rates simply because Trump said he would fire him. Jerome Powell sucks.

The stock market is responding negatively because the market was hoping that a negative jobs report would scare the Fed into ending its fight on inflation sooner. The market's main interest is in having as much cheap money available as possible and actually fighting inflation reduces that. A positive outlook gives the Fed the option to continue trying to fix the inflation problem without being worried about crashing the employment market. If Powell wanted to engineer a recession and create job losses it would be absurdly easy to do so; he certainly wouldn't be talking about winding down interest rate increases.

[President Johnson]

Welcome to Dark Brandon's America.

[GP270watch]

If by some miracle we actually do get a soft landing from inflation, pretty much the entirety of Atlas (including me) will owe a lot of apologies to Jerome Powell.

 Wrong he's trying to engineer a recession and create job losses. Powell isn't happy about today's news. It's why the stock market is reacting negatively. 'Soft landing' is a euphemism and double speak. It's not a soft landing from inflation, it's an economic recession they are hoping won't be that "bad"

 Powell has no credibility he let Trump bully him from raising rates simply because Trump said he would fire him. Jerome Powell sucks.

The stock market is responding negatively because the market was hoping that a negative jobs report would scare the Fed into ending its fight on inflation sooner. The market's main interest is in having as much cheap money available as possible and actually fighting inflation reduces that. A positive outlook gives the Fed the option to continue trying to fix the inflation problem without being worried about crashing the employment market. If Powell wanted to engineer a recession and create job losses it would be absurdly easy to do so; he certainly wouldn't be talking about winding down interest rate increases.

   A strong jobs reports means Wall Street thinks the labor market is still too hot and wage growth will continue. Powell has said time and time again he is worried about the rise in wages as a cause of rising inflation. While Wallstreet wants cheap money they don't want a recession which is also bad for stocks. Powell's roadmap is not the only idea or even necessarily the right idea, plenty of people have criticized him especially those who recognized inflation would be a problem before he did like Professor Jeremy Siegel. It's not clear the Fed even understands what caused inflation because nobody can say for certain what did.

“While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses,” Jay Powell.

 And all of this is still undermined by the fact that when Powell knew he should have raised rates he let Donald Trump punk him into not raising rates and then cut them, one of the things that let the stock market run wild and created bubbles. So again he is not a credible steward of monetary policy.

[Podgy the Bear]

And once again, the non appearance of blue avatars on the first Friday of the month is readily apparent...

[GP270watch]

And once again, the non appearance of blue avatars on the first Friday of the month is readily apparent...

 Trump was the worst jobs President since Herbert Hoover. How the GOP ever managed to convince the voting public they're good on the economy is a great deception.

[Amenhotep Bakari-Sellers]

That's why Biden will beat DeSantis because of Low unemployment Rs the ones on the forum not the rich or rural think that nixing the Filibuster won't help them yes it will REPARATIONS, GUN CONTROL, CAMPAIGN FINANXE REFORM, BY NOT GIVING TAX CUTS TO RICH BUT CLOSING THE TAX LOOPHOLES, TAX REFORM IS NOT TRICKLED DOWN ECONOMICS

That's why Stein is gonna win NC and Biden is leading Trump in FL his Approvals won't be like this in 2 UT Rs it will be better Fetterman won PA by the same margin as Obama won PVI 51/47 Biden is gonna be reelected

[Suburbia]

And once again, the non appearance of blue avatars on the first Friday of the month is readily apparent...

 Trump was the worst jobs President since Herbert Hoover. How the GOP ever managed to convince the voting public they're good on the economy is a great deception.

Democrats need to hone in on WWC and Black unemployment, it is some of the worst in the nation. Then Democrats will be seen as good on the economy.

[Bismarck]

Good to see.

[jojoju1998]

And once again, the non appearance of blue avatars on the first Friday of the month is readily apparent...

 Trump was the worst jobs President since Herbert Hoover. How the GOP ever managed to convince the voting public they're good on the economy is a great deception.

Democrats need to hone in on WWC and Black unemployment, it is some of the worst in the nation. Then Democrats will be seen as good on the economy.

When Trump was President at this point in his presidency, Black Unemployment was 6.1 percent.


As of right now, under Biden, it's 5.7 percent. https://fred.stlouisfed.org/series/LNS14000006