CNBC’s Rick Santelli joins ‘Squawk Field’ to split ill the March jobs file.
source
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The data is lying compared to what’s happening on the field. People are struggling to find jobs
How much do these jobs pay? Where are they? What employers? Is it a living wage? Can you take me? The desperation is something I've never imagined
No, it was actually only 236,000 jobs added. Not 303,000. There was also 90,309 layoffs in March, up 7% and the highest since January of 2023.
The report is propped up by part time jobs, government jobs and illegal aliens in the work force that only lower the averge wage… add in an all time high in credit card debt and what remains is an overall economy going backwards…
The removal of long-term discouraged workers from the official unemployment rate (U-3) in 1994 had the following effects:
1. It led to a lower reported unemployment rate compared to previous methodologies that included these discouraged workers[1][4][5].
2. The exclusion of long-term discouraged workers from the U-3 rate meant the official unemployment statistics no longer captured the full extent of labor market slack and underutilization in the economy[3][4][5].
3. This change in definition resulted in the true level of unemployment being underestimated, as the official statistics did not reflect individuals who had become so discouraged about job prospects that they had stopped actively looking for work[3][4][5].
4. The broader measures like the U-6 rate that do include marginally attached and discouraged workers showed a higher level of labor underutilization compared to the headline U-3 unemployment figure[1][2][4].
In summary, the removal of long-term discouraged workers from the official U-3 unemployment rate in 1994 artificially lowered the reported unemployment figure, as it no longer captured the full pool of jobless individuals who had given up searching for work due to poor job prospects. This change in definition resulted in an underestimation of the true extent of labor market weakness and slack in the economy.
Unemployment is really 6% to 7% range
All part-time employees and most of them are government jobs. Hmm
300,000 jobs? Sounds like a Stormy Daniels biography.
Got no reason to vote for trump 😂
California my home state losing sso many jobs daily and recently the 99cents stores closing
What numbers srebthey making uo
A broader measure that includes discouraged workers and those holding part-time positions for economic reasons held steady at 7.3%.
Too bad no one goes under the hood of the jobs numbers and reports what is really happening. Full time jobs lost almost 6000 in March and part time jobs picked up over 600,000 in March. These numbers are right there in reports and yet all we see is the MSM flying the Biden Flag at the "success" of his policies. Why do people take over 600,000 part time jobs in one month, March? They can't survive on what they are making and must work somewhere else to try and pay the bills. Thanks Joe, you did that!
71,000 GOVERNMENT JOBS
MORE GOVERNMENT NAZIS TO VOTE DEMOCRAT
Illegals are doing great! So why don't Americans feel like this is helping them?
meanwhile in india 80% jobless, i am included
the number of full-time workers has collapsed by 1.347 million while the number of part-time workers exploded by 1.888 million!
When 400 dollar stores are closing, something doesn't add up w this job report. Every time a jobs report has came in the last few years, a few months later they change the data to correct it with a lower number.
The dollar store closing. A store that survived the great depression.
Either the government hired a ton of employees to keep the numbers propped up for election or we are being lied to.
This is counting the people that have to work 2-3 jobs to survive😅
This guy's is good
Been looking for a job in the semi conductor industry and can’t find anything in the last three months and I’m specialized in it. What are y’all talking about???
Mod Pizza closes 5 California locations in the 'land of fruits and nuts' as $20-an-hour minimum wage law takes effect
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Total b.s. Real unemployment is at least 20 million. Add in another 10 million illegals not working or counted. That makes it 30 million without real jobs.
Of course they’re mostly part time positions. Part time jobs +691,000 Full time jobs -6,000. Dig into the numbers yourselves.
Goebbels would be impressed. 🙄
But don’t take it from me. Here’s an excerpt from 60mins between Scott and Jerome:
PELLEY: Why was immigration important?
POWELL: Because, you know, immigrants come in, and they tend to work at a rate that is at or above that for non-immigrants. Immigrants who come to the country tend to be in the workforce at a slightly higher level than native Americans do. But that's largely because of the age difference. They tend to skew younger.
PELLEY: Why is immigration so important to the economy?
POWELL: Well, first of all, immigration policy is not the Fed's job. The immigration policy of the United States is really important and really much under discussion right now, and that's none of our business. We don't set immigration policy. We don't comment on it.
I will say, over time, though, the U.S. economy has benefited from immigration. And, frankly, just in the last, year a big part of the story of the labor market coming back into better balance is immigration returning to levels that were more typical of the pre-pandemic era. (***he just said the quiet part out loud…for those of yuh that don’t know nuthin’😉***)
PELLEY: The country needed the workers.
POWELL: It did. And so, that's what's been happening.
So there you go….right from the Fed Chair’s mouth. The more immigrants the more it keeps wages down. So those groceries aren’t getting any cheaper and you’re not going to have any more money to buy them.
Good Job! Let’s have MORE of that! 🤣😂
I definitely think you should all go out on the picket line for higher wages. That’ll show em.
🥤😎🍿
On a side note look at all the scam bots and shills in the comments. YT comment section is essentially broken. 🤣
Its good for stock trading but in a month the revision will kick in and show oh actually its qay worse than we thought…people though never look at the revisions
Great news for almost four years . Obama is doing a great job .
12 million migrants have to eat after the free money runs out. How many of those new employees have fake SS cards?
Awesome video man! Do you suggest copy trading as good approach for beginner to start with trading or should I just invest long term while I learn things on how day trading works?? Thank you!
History shows when Democrats are in power the job growth is up!
So the FEDS should keep increasing rates or keep them up longer
The economy isn't improving and gasoline prices are soaring again and this time, it's not going back below $3 in any of the 50 states. And with minimum wage going up by law, companies by the thousands are shutting down because it cannot pay those high wages to all their employees. This system was [created in shambles] by Satan the devil and will soon end.
Notice how many time they revise this number down after they collect the glory for the jobs number
That's what you get for voting for Biden!
Bad news for Biden?🙃
Bullish
Juicy numbers
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This is a lie no one has money
That's cool. How many jobs were lost in March? They don't ever tell you that
Haha i love the comments as maga tries to cope.
Go Dark Brandon!!!!!!
Let go Brandon. Keep this going! Because of you I'm living my best life.
Joe is probably crying off camera, he can't stand good economic news.
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When will the FED realize that the high jobs hiring numbers month after month is due to all the undocumented workers finding work to feed themselves & families once let loose in the United States. March 2023 saw an estimated 193,000 new workers arriving. Now if the smart FED bank geniuses will suspend using the distorted jobs rate as one of the indicators to decide not to lower interest rates to cool inflation.
Today the Whitehouse will take credit for a robust job hiring market report as an indicator of economic policies working well bringing economic vitality as inflation pushed by the keeping of high interest rates making goods we buy cost more continues to creep up compounding the ever higher cost of these goods. Instead of the Whitehouse using uncommon there common sense as seeing a stubborn high jobs hiring rate as an indicator of border security not working, some would say " not at all" letting in hundreds of thousands panicked hungry to take any number of jobs per person. Creating a cyclical cycle of ever higher slow burn inflation by maintaining high interest rates because job hirings (multiple per person) remain high each month as reported once again.