The US economy added 353,000 jobs in January, starting off 2024 with a bang | CNN Business
The US economy added 353,000 jobs in January, starting off 2024 with a bang | CNN Business
The US economy added a stunning 353,000 jobs last month, according to Bureau of Labor Statistics data released Friday, registering a stronger-than expected gain to kick off 2024.
When I see data like this I wanna know what the salaries/wages for those jobs were.
Because we Also lost like >20,000 $100k+ jobs
"We lost 100k tech jobs, but they all got two janitor jobs each to cover their bills. So we've doubled the job market. Aren't we great?"
Those tech jobs shouldn't have existed to begin with. They were being paid with borrowed money when interest rates were stupid low.
I don't give a shit about the middle management that lost their jobs but the real talent could have been and probably would have been working for themselves or with smaller companies making less but they wouldn't have lost their job like they did. This isn't about Biden or really even the rates being hiked, this is about the grow or die mentality that fuels our economy and stock market.
We lost those tech jobs because they shouldn't have been jobs in the first place. Companies went on a spending bender with borrowed money at ridiculously low rates and when they couldn't keep making the payments and keep the people they hired, they had to make a choice.
Note that I am not defending the corps that pulled this shit. Our economy is based on bullshit and the grow or die mentality of most of the investment firms that are willing to fund new ideas or new takes on old ones.
I understand your point, I just think profit margins and executive compensation packages tell a different story.
Which is why to me it's weird to see a headline about how many jobs are gained, without knowing how much money those people are pulling down. Idk. I don't know much about economics.
"353,000 people have new jobs that they accepted in a tight labor market"
"Hmmm...let me wait for additional data I'll never look for. Until I get that it was probably bad these people got jobs."
The increase in employment was robust and broad based," said Joe Brusuelas, RSM chief economist. "Gains were clustered in the higher-paying categories."