BLS jobs report, US economy adds 263,000 jobs UE falls to 3.5%

[Johnny2X2X]

266,000 was expected, so this hits the mark there. Wages up 5.0% over the last 12 months offsetting much of Inflation.

https://www.bls.gov/news.release/empsit.nr0.htm

[uponit7771]

1. K&R, just like after 1918 the war and pandemic took slack out of job market. Good for unions ...

... and I pray American workers can exploit this

[Johnny2X2X]

2. American workers have been exploiting it.

Global inflation is still a tough problem to handle, but if you could magically take that away, this is the best economy for worker gains in generations.

[doc03]

6. What about us on a fixed income? nt

[Takket]

3. Hoping I see that 5% at some point

Cause inflation has hammered me. It’s like taking a pay cut.

[Johnny2X2X]

4. Sorry it's been so rough for you

Global inflation is hard to fight.

I got lucky, I saw a major promotion late last year that increased my income by almost 30% and for some reason, all of my utility bills are less this year.

Now has been the time to switch jobs, people who did switch saw big raises. And the people in the lowest quintile for wages actually saw wage growth on average in excess of what inflation has been.

Good luck though, everyone has a different situation and inflation has been a bear, hopefully the global supply chain can continue to resolve its issues and inflation in the US can continue to ease as a result.

[Norbert]

5. We have filled several positions in my company in the last several weeks.

The only bad news is we are now in a hiring freeze, except for a couple positions we need to backfill due to recent developments.

It is October and the company is doing well. By the new fiscal year in a few months, things will likely get better all the way around.

3.5 unemployment is amazing. Glad we have a president who is trying hard to make things right.

[Johnny2X2X]

7. Our site is down 200 engineers

It will take us years to get staffed back up properly. Corporate came down in late Spring of 2020 with a mandatory 25% RIF, it was a huge mistake that we're still reeling from. We have long development life cycle projects, the pandemic effected our business zero.

The people we laid off were quality people and found work elsewhere, we've hired back as many of them as we could, but we simply don't have the labor to do the work right now. And we're paying a premium to get people in.

Along the way, the company softened on WFH, we are hiring people who will be full time work from home. I am hybrid right now and love it.

[LetMyPeopleVote]

8. This makes me smile

Link to tweet