(The Center Square) – The U.S. economy added 517,000 jobs in January as the unemployment rate dropped to 3.4%, the lowest since May 1969.
By comparison, there were 260,000 jobs added in December 2022 and the 517,000 was the largest increase since 568,000 in July 2022, according to the latest report from the U.S. Bureau of Labor Statistics.
“Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care,” the BLS stated in a news release. “Employment also increased in government, partially reflecting the return of workers from a strike.”
“Shocking,” said Don Grimes, an economist at the University of Michigan’s Institute for Research on Labor, Employment and the Economy, in an email to The Center Square. “So the job market was even stronger than anyone suspected in 2022, and started off with a bang in 2023. I think this will make it more likely that the Fed will raise interest rates again in March. I have been expecting that the job market would get weaker, but so far I have been wrong. At some point it will.”
No doubt about it now. Joe Biden is a flippin’ economic genius!
Who is in charge of the bureau that came up with these numbers? Every store, clinic, restaurant I go to is short staffed.
Maybe they are counting drug smuggling mules and human traffickers as employed?
Not just that but did we NOT GET TOLD at the beginning of the week, google and other companies, are laying THOUSANDS OF workers off??
Okay—I may not be Mensa material, but I am not an idiot, either. If so many jobs are being created and the unemployment rate is dropping—why are all of these major corporations laying people off???
ITS that new, fandango, liberal non-racist non-white math..
I heard a talking head say this contains all the revisions for the year.
The problem is that once people give up looking for work, they are no longer “unemployed”, even though they aren’t working. They are still getting government hand outs, but now don’t count on the “unemployment” rolls.
There’s a bunch of people lazy as a pet pig, who would rather sit at home playing video games or shooting up with dope instead of getting a job and supporting their family.
When I was young, people had enough self-respect to get a job, even if it wasn’t glamorous, so they wouldn’t be a drain on resources. With all this push toward socialism, it breeds LAZINESS! Hunger is a pretty good motivator to work.
It’s time we all get back to work and be proud of this great nation under God.