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Federal Reserve Chair Jerome Powell today: "There is effectively zero net job creation in the private sector."
Link to tweet
13 replies
= new reply since forum marked as read
= new reply since forum marked as read
I know people with degrees in IT & other disciplines, several with years of experience & solid references hoping & praying to get a Walmart or Amazon warehouse job.
On the whole, the job market is all but frozen, with little in the way of hiring or turnover. And for recent college graduates, it’s even worse.
The April jobs report looks good — but there’s rot underneath.
— TheBlackPage (Woke, DEI forever against fascism) (@theblackpage.bsky.social) 2026-04-03T17:16:38.915Z
On the whole, the job market is all but frozen, with little in the way of hiring or turnover. And for recent college graduates, it’s even worse.
www.ms.now/opinion/jobs...
https://www.ms.now/opinion/jobs-report-reaction
Yes, the April jobs report released Friday showed that the U.S. added 178,000 jobs last month, well above expectations. But over the last six months, job growth has averaged just 89,000 per month – weak sauce by any measure. As usual during Trump 2.0, the health care industry led the way with 76,000 jobs added (thanks in part to the resolution of a strike at Kaiser Permanente). Other industries lagged: while manufacturing employment grew 12,000, there are still 82,000 fewer such jobs than when Trump returned to the White House, And a large part of the reason the overall unemployment rate fell to 4.3% is because 400,000 people exited the workforce entirely.
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Overall, the job market is all but frozen, with little in the way of hiring or turnover. And for recent college graduates, it’s even worse, which might help explain Trump’s faltering support among this cohort. According to the Federal Reserve Bank of New York, more than 40 percent of college graduates between the ages of 22 and 27 hold jobs that typically don’t require a college degree. That high a share is usually seen only during economic downturns and their immediate aftermath, and is comparable to rates seen in the aftermath of the Great Recession.....
Economists are increasingly predicting stagflation – a period of low growth and high inflation – for the U.S. No surprise, consumer sentiment is all but in the toilet, with the University of Michigan’s consumer sentiment survey at near-record lows and huge numbers of Americans say they believe the country is heading in the wrong direction.....
At the same time, the extreme corruption of the Trump administration is also giving companies a license to raise prices and otherwise treat their customers like chumps without a choice. The gutting of the Consumer Financial Protection Bureau has left Americans with nowhere to turn when a credit card issuer or bank does them wrong. The de facto refusal to enforce antitrust statutes will almost certainly raise costs for Americans as well.
As I’ve pointed out before, Trump’s economy in many ways resembles to a multi-level marketing scheme. The only people making out here are the wealthiest of the wealthy, who are benefitting from tax cuts, while Trump performs his lifelong serial con bait and switch on the rest of us. This month’s job numbers are almost certainly offering more of the same – they look good on first glance, but dig beneath the surface, and the rot quickly becomes apparent.
?resize=560,695
Overall, the job market is all but frozen, with little in the way of hiring or turnover. And for recent college graduates, it’s even worse, which might help explain Trump’s faltering support among this cohort. According to the Federal Reserve Bank of New York, more than 40 percent of college graduates between the ages of 22 and 27 hold jobs that typically don’t require a college degree. That high a share is usually seen only during economic downturns and their immediate aftermath, and is comparable to rates seen in the aftermath of the Great Recession.....
Economists are increasingly predicting stagflation – a period of low growth and high inflation – for the U.S. No surprise, consumer sentiment is all but in the toilet, with the University of Michigan’s consumer sentiment survey at near-record lows and huge numbers of Americans say they believe the country is heading in the wrong direction.....
At the same time, the extreme corruption of the Trump administration is also giving companies a license to raise prices and otherwise treat their customers like chumps without a choice. The gutting of the Consumer Financial Protection Bureau has left Americans with nowhere to turn when a credit card issuer or bank does them wrong. The de facto refusal to enforce antitrust statutes will almost certainly raise costs for Americans as well.
As I’ve pointed out before, Trump’s economy in many ways resembles to a multi-level marketing scheme. The only people making out here are the wealthiest of the wealthy, who are benefitting from tax cuts, while Trump performs his lifelong serial con bait and switch on the rest of us. This month’s job numbers are almost certainly offering more of the same – they look good on first glance, but dig beneath the surface, and the rot quickly becomes apparent.