U.S. adds 528,000 jobs in July, unemployment rate falls to 3.5%

Between this and the stock market over the last month…tell me again about the R word…

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That’s a good jobs report.

Need a lot more good news like this.

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Is this the good news thread? :wink:

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Ask and ye shall receive…

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The price of crude is going to go down more due to the new tax incentives in the IRA. You get $7500 for a new electric/hybrid and $4000 for a used one.

NatGas could see an increase in price due to this, as more generating capacity will be needed to meet demand. I am glad I locked in my gas rate for two years!!

Thank god for this!

I’m trying to leave my current job in logistics/customs clearance, but haven’t seen anything I like thus far.

The US has also been bringing oil rigs online at a steady pace. I imagine this is a world wide thing.

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That won’t have an overnight affect on oil though.

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Crude is a global market. It won’t have much of an impact other than eventually getting more EVs on the road. The effect, if any, will be like boiling a frog.

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Boiling a frog? What does that mean?

Slow and unnoticeable to the frog is what I mean.

Boiling frog - Wikipedia.

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It looks like a whole lot of those pre-COVID jobs lost to the epidemic are being refilled? Also a lot of folks who took part in the “great resignation” are wanting their old jobs back. It’s like my dad told me when I was a kid, “It’s better to make a good living and provide a good standard of living for your family doing something you don’t really like, than to live in poverty doing something you enjoy.”

I remember a guy in my office one time saying if his job was fun they would be charging him instead of paying him.

Employers eliminated over 600,000 job postings in June. Simply put available jobs are declining.

The Labor Force Participation Rate is declining. Simply put fewer people who could work are actually working.

Both of these facts are negative news for our economy.

Not really. 62.2% to start the year and 62.1% now. 61.7% last August. Overall employment rate is 60% from 59.9% last month and 58.5% a year ago.

Those rates were on a steady decline since 2000 as baby boomers starting retiring. Covid dropped the number then it climbed up some. Not too far off what it would be on the rate it was declining.

Edit: I’ll add in too, the more single family incomes the lower those percentages are. Back in the 50s to 70s those numbers were lower since there was typically a stay at home parent. Not sure if that is happening now, but I do remember talks about how some started doing the math with child care costs during covid and found out they were basically working just to pay for child care.

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Alot of people having to go back to work to pay the bills with inflation so high

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This is true, if you don’t have a well paying job and have 2 kids in day care you are just turning $

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Full employment is widely considered to be around 4%. That leaves some flex for employers to add people.

So, some job seekers who need to have every Tuesday off when the moon is in the seventh hour are still looking for work. Or don’t want to muck the stables.

5 percent

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I said it last administration and I will say it now, unemployment rate is a decent number to follow but not great for showing how strong the economy is for most people. Same with the stock market. Maybe great for the country overall, but might not mean much for 50% of the people.

A main reason European countries typically have higher unemployment rates is because they are more patient in the workforce and wait for a better paying job. A lot of Americans can’t afford to miss two paychecks and take a bad job before even showing up as unemployed.

If you don’t love what you do, love why you do it at least.

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