- Aug 1, 2004
- 70,047
- 24,226
naw, thats like sayin there's no point in going to a baseball game if you're not behind home plate
naw, thats like sayin there's no point in going to a baseball game if you're not behind home plate
- Aug 1, 2004
- 70,047
- 24,226
so? be a trail blazer...once upon a time Williamsburg was a drug infested cesspool.
- Aug 1, 2004
- 70,047
- 24,226
ECONOMY
US consumer sentiment surges to highest level in 15 years
PUBLISHED AN HOUR AGOUPDATED 16 MIN AGO
Thomas Franck@TOMWFRANCK
KEY POINTS
WATCH NOW
VIDEO01:17
May consumer sentiment index climbs to 102.4 from April’s reading of 97.2
https://www.cnbc.com/2019/05/17/consumer-sentiment-may-2019-preliminary.html
US consumer sentiment surges to highest level in 15 years
PUBLISHED AN HOUR AGOUPDATED 16 MIN AGO
Thomas Franck@TOMWFRANCK
KEY POINTS
- The University of Michigan’s preliminary print on its consumer sentiment index rose to 102.4, up from 97.2 in April and well ahead of expectations.
- “Consumers viewed prospects for the overall economy much more favorably, with the economic outlook for the near and longer term reaching their highest levels since 2004,” says Richard Curtin, chief economist for the Surveys of Consumers.
- The optimistic consumer outlook was mostly recorded before U.S.-China trade deliberations soured earlier this month.
WATCH NOW
VIDEO01:17
May consumer sentiment index climbs to 102.4 from April’s reading of 97.2
https://www.cnbc.com/2019/05/17/consumer-sentiment-may-2019-preliminary.html
- May 13, 2013
- 2,968
- 2,768
The thought of making 60k in nyc and being poor is laughable. Most of the city lives like that or with less income.
If you make close to 6 figures or above and choose to live in an outer borough you're sitting extremely comfortable with disposable income. People just assume everyone wants to live in chelsea lol...
If you make close to 6 figures or above and choose to live in an outer borough you're sitting extremely comfortable with disposable income. People just assume everyone wants to live in chelsea lol...
- Aug 1, 2004
- 70,047
- 24,226
- Aug 6, 2012
- 66,194
- 76,776
How many are part time and underpaid?
- Dec 27, 2014
- 35,782
- 78,686
Are those jobs FT, PT, seasonal, per diem? Are the workers underemployed? Medical, PTO, 401K?
Not a fan of the empty unemployment rate statistic.
Not a fan of the empty unemployment rate statistic.
- Oct 1, 2019
- 854
- 1,158
The economy is terrible. Majority of people are working dead-end retail and office jobs. Most people can barely afford to rent without a s/o or other source of income.
You know times are bad when people are now beginning to do their regular shopping at discount stores like Dollar Tree. Every time I go in there I see people in there with a cart full of groceries as if they were in a regular supermarket.
You know times are bad when people are now beginning to do their regular shopping at discount stores like Dollar Tree. Every time I go in there I see people in there with a cart full of groceries as if they were in a regular supermarket.
- Aug 1, 2004
- 70,047
- 24,226
- Aug 1, 2004
- 70,047
- 24,226
- Aug 1, 2004
- 70,047
- 24,226
actually they're not.
Economics
U.S. Payroll Gain of 266,000 Trounces Forecasts as Wages Heat Up
By
Katia Dmitrieva
Updated on
- Unemployment rate falls to 3.5%, matching half-century low
- Automaker payrolls rebound by 41,300 after GM strike ends
U.S. payrolls rose by 266,000 in November, beating analyst estimates. Bloomberg’s Mike McKee reports.
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Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast.
U.S. job gains roared back in November as unemployment matched a half-century low and wages topped estimates, giving the Federal Reserve more reason to hold interest rates steady after three straight cuts.
Payrolls jumped 266,000, the most since January, after an upwardly revised 156,000 advance the prior month, according to a Labor Department release Friday that topped all estimates in a Bloomberg survey calling for 180,000 jobs. It was the first full month that General Motors Co. workers returned to work after a 40-day strike, adding 41,300 to automaker payrolls following a similar drop the prior month.
Stocks in the U.S. climbed on the report and headed for their best gain in a month, while Treasuries fell and the dollar rose.
The jobless rate dipped to 3.5%, matching the lowest since 1969. Average hourly earnings climbed 3.1% from a year earlier, exceeding projections, and the prior month was revised higher. Private employment jumped by 254,000.
The data back the Fed’s view that the labor market remains strong, supporting consumers and continued economic growth. That may give the central bank more room to keep interest rates on hold at their meeting next week amid the uncertainty of President Donald Trump’s prolonged trade talks with China. Wage gains should also support holiday shopping and ease concerns about a slowdown.
“It’s a significant surprise because economists were ready to go with the idea that payroll growth was slowing down because the job market had gotten tight,” said Stephen Stanley, chief economist at Amherst Pierpont. “The whole tenor has changed in terms of job growth. We’re back at steady-as-she-goes at a robust pace.”
Read more: Wall Street Scraps Recession Assumptions After Robust Jobs Data
A separate report Friday showed consumer sentiment rose to a seven-month high and buying attitudes for household durables improved, adding to economic cheer as the holiday shopping season gets under way.
Larry Kudlow, Trump’s top economic adviser, said in a Bloomberg Television interview that “despite a certain amount of pessimism, the economy is outperforming expectations, economic policies from the president are working.”
White House economic adviser Larry Kudlow says "America is going back to work." He discusses the November jobs report with Bloomberg’s Johnathan Ferro on "Bloomberg Markets."
Revisions added 41,000 jobs for the prior two months, bringing the three-month average to a 10-month high of 205,000.
The report adds to recent data pointing to an economy holding up amid headwinds. Jobless claims remain near a half-century low, service-sector activity is expanding and consumer sentiment is within reach of the best levels of the expansion.
Manufacturers rebounded, adding 54,000 jobs after a 43,000 drop the prior month, mostly reflecting GM workers returning to work. Despite the boost, factories have faltered amid weak global demand and U.S.-China trade tensions curbing business expansion plans.
Job gains were broad-based across industries, led by a 206,000 gain for private service providers that was the best since January.
Fed Chairman Jerome Powell and other policy makers have said the labor market remains strong enough to maintain a stable economy. That’s contributed to expectations the central bank will hold rates through the end of 2021.
The participation rate, or share of working-age people in the labor force, fell to 63.2% from a six-year high of 63.3% the prior month.
The U-6, or underemployment rate, fell to 6.9%, matching the lowest level since 2000, from 7%; some analysts see this as a more accurate reflection of the labor market as it includes part-time workers who’d prefer a full-time position and those who aren’t actively looking.
— With assistance by Chris Middleton, Sophie Caronello, Alister Bull, Ana Monteiro, and Reade Pickert
(Updates with consumer sentiment in seventh paragraph, Kudlow comment in eighth paragraph. An earlier version corrected the prior month’s figure in second paragraph to 156,000 from 128,000.)
U.S. Payroll Gain of 266,000 Trounces Forecasts as Wages Heat Up
U.S. job gains roared back in November as unemployment matched a half-century low and wages topped estimates, giving the Federal Reserve more reason to hold interest rates steady after three straight cuts.
www.bloomberg.com
Wage stagnation does not mean wages literally don't go up.actually they're not.
Economics
U.S. Payroll Gain of 266,000 Trounces Forecasts as Wages Heat Up
By
Katia Dmitrieva
Updated on
- Unemployment rate falls to 3.5%, matching half-century low
- Automaker payrolls rebound by 41,300 after GM strike ends
U.S. payrolls rose by 266,000 in November, beating analyst estimates. Bloomberg’s Mike McKee reports.
SHARE THIS ARTICLE
Share
Tweet
Post
Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast.
U.S. job gains roared back in November as unemployment matched a half-century low and wages topped estimates, giving the Federal Reserve more reason to hold interest rates steady after three straight cuts.
Payrolls jumped 266,000, the most since January, after an upwardly revised 156,000 advance the prior month, according to a Labor Department release Friday that topped all estimates in a Bloomberg survey calling for 180,000 jobs. It was the first full month that General Motors Co. workers returned to work after a 40-day strike, adding 41,300 to automaker payrolls following a similar drop the prior month.
Stocks in the U.S. climbed on the report and headed for their best gain in a month, while Treasuries fell and the dollar rose.
The jobless rate dipped to 3.5%, matching the lowest since 1969. Average hourly earnings climbed 3.1% from a year earlier, exceeding projections, and the prior month was revised higher. Private employment jumped by 254,000.
The data back the Fed’s view that the labor market remains strong, supporting consumers and continued economic growth. That may give the central bank more room to keep interest rates on hold at their meeting next week amid the uncertainty of President Donald Trump’s prolonged trade talks with China. Wage gains should also support holiday shopping and ease concerns about a slowdown.
“It’s a significant surprise because economists were ready to go with the idea that payroll growth was slowing down because the job market had gotten tight,” said Stephen Stanley, chief economist at Amherst Pierpont. “The whole tenor has changed in terms of job growth. We’re back at steady-as-she-goes at a robust pace.”
Read more: Wall Street Scraps Recession Assumptions After Robust Jobs Data
A separate report Friday showed consumer sentiment rose to a seven-month high and buying attitudes for household durables improved, adding to economic cheer as the holiday shopping season gets under way.
Larry Kudlow, Trump’s top economic adviser, said in a Bloomberg Television interview that “despite a certain amount of pessimism, the economy is outperforming expectations, economic policies from the president are working.”
White House economic adviser Larry Kudlow says "America is going back to work." He discusses the November jobs report with Bloomberg’s Johnathan Ferro on "Bloomberg Markets."
Revisions added 41,000 jobs for the prior two months, bringing the three-month average to a 10-month high of 205,000.
The report adds to recent data pointing to an economy holding up amid headwinds. Jobless claims remain near a half-century low, service-sector activity is expanding and consumer sentiment is within reach of the best levels of the expansion.
Manufacturers rebounded, adding 54,000 jobs after a 43,000 drop the prior month, mostly reflecting GM workers returning to work. Despite the boost, factories have faltered amid weak global demand and U.S.-China trade tensions curbing business expansion plans.
Job gains were broad-based across industries, led by a 206,000 gain for private service providers that was the best since January.
Fed Chairman Jerome Powell and other policy makers have said the labor market remains strong enough to maintain a stable economy. That’s contributed to expectations the central bank will hold rates through the end of 2021.
The participation rate, or share of working-age people in the labor force, fell to 63.2% from a six-year high of 63.3% the prior month.
The U-6, or underemployment rate, fell to 6.9%, matching the lowest level since 2000, from 7%; some analysts see this as a more accurate reflection of the labor market as it includes part-time workers who’d prefer a full-time position and those who aren’t actively looking.
— With assistance by Chris Middleton, Sophie Caronello, Alister Bull, Ana Monteiro, and Reade Pickert
(Updates with consumer sentiment in seventh paragraph, Kudlow comment in eighth paragraph. An earlier version corrected the prior month’s figure in second paragraph to 156,000 from 128,000.)
U.S. Payroll Gain of 266,000 Trounces Forecasts as Wages Heat Up
U.S. job gains roared back in November as unemployment matched a half-century low and wages topped estimates, giving the Federal Reserve more reason to hold interest rates steady after three straight cuts.
- Apr 4, 2008
- 75,424
- 24,815
Did the wages go up because the GM strike ended? Because that doesn’t really count for anything. That’s like plugging a lamp in.
mplsdunk
Supporter
- May 25, 2004
- 36,093
- 56,421
Idk, I heard they settled on a contract so I’d assume they did.
- Dec 11, 2014
- 1,697
- 2,525
we are heading towards a recession
- Feb 19, 2018
- 1,045
- 1,727
Another 1,000 truck drivers lost their jobs in November, and it's a chilling sign for the economy
December 6, 2019, 5:34 PM EST
The job cuts come at a time when the trucking industry should be ramping up for the holiday season. Warehousing and storage, for example, added 8,000 jobs last month. And in November 2018, some 4,100 trucking jobs were added.
ACT Research said America's $800 billion trucking market has been in a recession since early 2019. Freight volumes have declined for 11 straight months. Manufacturing, which tracks the trucking industry, has contracted for four straight months.
In the first half of the year, about 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That's more than triple the number of bankruptcies from the same period last year — about 175.
Here's the number of jobs added or removed in 2019:
Everyone from the C-suite to individual truckers are increasingly blaming their woes on an industrial recession — one that's being kicked off by President Donald Trump's trade war.
"We have been in an industrial recession for the last year, and I say that just based on the objective fact that not only us but the entire LTL industry has seen negative tonnage growth in each of the last four quarters," XPO CEO Brad Jacobs said in a call to analysts on October 29.
Another explanation for 2019's challenges is the cyclical nature of the trucking industry — big upticks are typically followed by downturns. And 2018 was a remarkable year for trucking, with rates across the board hitting near-record highs.
Because of that high pay, trucking companies bought huge numbers of trucks and hired new drivers in anticipation of profits to come. But then, as the supply of trucks and truckers caught up to demand, rates fell, making that investment challenging to pay off.
When the rest of America is headed for a downturn, freight usually dips first, a report from Convoy's economic-research division said. The industry went into a recession in April 2006, more than a year before the rest of the economy was clobbered by the Great Recession, starting in January 2008.
A tumble in trucking doesn't always foretell a recession for everyone else. The freight industry goes into recession twice as often as the rest of the economy, according to Convoy.
Regardless, the jobs report reflected an unexpected boost
But the ongoing hit to trucking hasn't seemed to cause the rest of the economy to meaningfully contract. The rest of the jobs report crushed expectations, translating to a 50-year-low in the unemployment rate of 3.5%.
That unexpected boost in payrolls surprised analysts, who have said for months that the economy is slowing down. This year, the US has added an average of 180,000 jobs a month, down from an average monthly gain of 223,000 in 2018.
Still, a windfall of jobs isn't necessarily a win for many Americans. A Brookings report recently uncovered that 44% of US workers are in low-wage jobs, earning a median annual salary of $18,000, despite historically low unemployment.
www.yahoo.com
December 6, 2019, 5:34 PM EST
- The trucking industry has been in a recession in 2019.
- Small trucking companies and owner-operators (truck drivers who work for themselves) have been hit hardest.
- After an uptick of 700 trucking payrolls in October, the industry slashed another 1,000 jobs in November, according to the monthly jobs report released by the federal government.
- Visit Business Insider's homepage for more stories.
The job cuts come at a time when the trucking industry should be ramping up for the holiday season. Warehousing and storage, for example, added 8,000 jobs last month. And in November 2018, some 4,100 trucking jobs were added.
ACT Research said America's $800 billion trucking market has been in a recession since early 2019. Freight volumes have declined for 11 straight months. Manufacturing, which tracks the trucking industry, has contracted for four straight months.
In the first half of the year, about 640 trucking companies went bankrupt, according to industry data from Broughton Capital LLC. That's more than triple the number of bankruptcies from the same period last year — about 175.
Here's the number of jobs added or removed in 2019:
- January: 19,100 trucking payrolls added; 1,516,000 total
- February: 100 added; 1,516,100 total
- March: 1,200 removed; 1,514,900 total
- April: 2,300 added; 1,517,200 total
- May: 1,800 added; 1,519,000 total
- June: 1,900 added; 1,520,900 total
- July: 300 removed; 1,520,600 total
- August: 5,100 removed; 1,515,500 total
- September: 2,900 removed; 1,512,600 total
- October: 700 added; 1,513,300 total
- November: 1,000 removed; 1,512,300 total
Everyone from the C-suite to individual truckers are increasingly blaming their woes on an industrial recession — one that's being kicked off by President Donald Trump's trade war.
"We have been in an industrial recession for the last year, and I say that just based on the objective fact that not only us but the entire LTL industry has seen negative tonnage growth in each of the last four quarters," XPO CEO Brad Jacobs said in a call to analysts on October 29.
Another explanation for 2019's challenges is the cyclical nature of the trucking industry — big upticks are typically followed by downturns. And 2018 was a remarkable year for trucking, with rates across the board hitting near-record highs.
Because of that high pay, trucking companies bought huge numbers of trucks and hired new drivers in anticipation of profits to come. But then, as the supply of trucks and truckers caught up to demand, rates fell, making that investment challenging to pay off.
When the rest of America is headed for a downturn, freight usually dips first, a report from Convoy's economic-research division said. The industry went into a recession in April 2006, more than a year before the rest of the economy was clobbered by the Great Recession, starting in January 2008.
A tumble in trucking doesn't always foretell a recession for everyone else. The freight industry goes into recession twice as often as the rest of the economy, according to Convoy.
Regardless, the jobs report reflected an unexpected boost
But the ongoing hit to trucking hasn't seemed to cause the rest of the economy to meaningfully contract. The rest of the jobs report crushed expectations, translating to a 50-year-low in the unemployment rate of 3.5%.
That unexpected boost in payrolls surprised analysts, who have said for months that the economy is slowing down. This year, the US has added an average of 180,000 jobs a month, down from an average monthly gain of 223,000 in 2018.
Still, a windfall of jobs isn't necessarily a win for many Americans. A Brookings report recently uncovered that 44% of US workers are in low-wage jobs, earning a median annual salary of $18,000, despite historically low unemployment.
Another 1,000 truck drivers lost their jobs in November, and it's a chilling sign for the economy
After an uptick of 700 trucking payrolls in October, the industry slashed another 1,000 jobs in November.
- Aug 1, 2004
- 70,047
- 24,226
Cramer: Like or hate Trump, 'these are the best numbers of our lives' on jobs
PUBLISHED FRI, DEC 6 2019 9:22 AM EST
UPDATED FRI, DEC 6 2019 10:28 AM EST
Matthew J. Belvedere
@MATT_BELVEDERE
SHARE
KEY POINTS
CNBC's Jim Cramer says no matter your view on President Trump there's no denying we're living in the best labor market in more than a generation.
"This is the best number I've ever seen in my life," says Cramer, 64.
Zeroing in on the 3.5% unemployment rate in November, Cramer says, "Fifty years ago, that number was a curse. Now it's a blessing."
CNBC's Jim Cramer said Friday no matter your view on President Donald Trump there's no denying we're living in the best labor market in more than a generation.
"You can't contradict that these are the best numbers of our lives. You can't," Cramer, 64, said following the government report showing the U.S. economy created a better-than-expected 266,000 nonfarm jobs in November, with the unemployment rate dipping to 3.5%, matching a 50-year low. Economists had expected the jobless rate to hold steady at 3.6% last month.
"People don't want to say good things" about the economy, said Cramer, echoing comments he made Thursday evening on "Mad Money," telling investors: "Don't let the armageddonists and the negativists and the hucksters scare you away from owning stocks."
Referring to Trump, Cramer said Friday on "Squawk Box," shortly after the jobs report was released, "It doesn't matter whether you hate him or like him, these are real numbers."
"This is the best number I've ever seen in my life," Cramer said, zeroing in on the unemployment rate. "Fifty years ago, that number was a curse. Now it's a blessing." He added, "I don't see inflation. I don't see recession."
Cramer said the strong U.S. job market is going to allow America to win the trade war with China. "The president can walk away from the table with this number." He added: "In the end, the Chinese are going to have to put jobs here."
Washington and Beijing have been locked in a 17-month-long trade war that's seen both sides put billions and billions of dollars of tariffs on each others' imports. Negotiators for the world's two biggest economies are trying to cement a "phase one" trade deal, which was announced in principle in October.
The next round of U.S. tariffs against Chinese-made goods, including smartphones and laptops, are set to go into effect on Dec. 15.
The stock market has been fighting its way higher for months, as positive and negative headlines on U.S.-China trade talks have whipsawed Wall Street on a day-to-day basis. With robust gains Friday on those strong jobs numbers, the Dow Jones Industrial Average was less than 1% from last week's all-time high — and after a rough start to December, closing in on positive territory for the week.
China on Friday said it will waive tariffs for some soybeans and pork shipments from the U.S., after Trump struck an upbeat tone on progress toward a "phase one" deal on Thursday as the Dow logged its second straight session of gains.
Also on Friday, top Trump economic advisor Larry Kudlow said the U.S. and China are "close" to a trade deal. However, the National Economic Council director stressed, in a CNBC interview, that the president was prepared to walk away if he doesn't get the terms he wants.
www.cnbc.com
PUBLISHED FRI, DEC 6 2019 9:22 AM EST
UPDATED FRI, DEC 6 2019 10:28 AM EST
Matthew J. Belvedere
@MATT_BELVEDERE
SHARE
KEY POINTS
CNBC's Jim Cramer says no matter your view on President Trump there's no denying we're living in the best labor market in more than a generation.
"This is the best number I've ever seen in my life," says Cramer, 64.
Zeroing in on the 3.5% unemployment rate in November, Cramer says, "Fifty years ago, that number was a curse. Now it's a blessing."
CNBC's Jim Cramer said Friday no matter your view on President Donald Trump there's no denying we're living in the best labor market in more than a generation.
"You can't contradict that these are the best numbers of our lives. You can't," Cramer, 64, said following the government report showing the U.S. economy created a better-than-expected 266,000 nonfarm jobs in November, with the unemployment rate dipping to 3.5%, matching a 50-year low. Economists had expected the jobless rate to hold steady at 3.6% last month.
"People don't want to say good things" about the economy, said Cramer, echoing comments he made Thursday evening on "Mad Money," telling investors: "Don't let the armageddonists and the negativists and the hucksters scare you away from owning stocks."
Referring to Trump, Cramer said Friday on "Squawk Box," shortly after the jobs report was released, "It doesn't matter whether you hate him or like him, these are real numbers."
"This is the best number I've ever seen in my life," Cramer said, zeroing in on the unemployment rate. "Fifty years ago, that number was a curse. Now it's a blessing." He added, "I don't see inflation. I don't see recession."
Cramer said the strong U.S. job market is going to allow America to win the trade war with China. "The president can walk away from the table with this number." He added: "In the end, the Chinese are going to have to put jobs here."
Washington and Beijing have been locked in a 17-month-long trade war that's seen both sides put billions and billions of dollars of tariffs on each others' imports. Negotiators for the world's two biggest economies are trying to cement a "phase one" trade deal, which was announced in principle in October.
The next round of U.S. tariffs against Chinese-made goods, including smartphones and laptops, are set to go into effect on Dec. 15.
The stock market has been fighting its way higher for months, as positive and negative headlines on U.S.-China trade talks have whipsawed Wall Street on a day-to-day basis. With robust gains Friday on those strong jobs numbers, the Dow Jones Industrial Average was less than 1% from last week's all-time high — and after a rough start to December, closing in on positive territory for the week.
China on Friday said it will waive tariffs for some soybeans and pork shipments from the U.S., after Trump struck an upbeat tone on progress toward a "phase one" deal on Thursday as the Dow logged its second straight session of gains.
Also on Friday, top Trump economic advisor Larry Kudlow said the U.S. and China are "close" to a trade deal. However, the National Economic Council director stressed, in a CNBC interview, that the president was prepared to walk away if he doesn't get the terms he wants.
Cramer: Like or hate Trump, 'these are the best numbers of our lives' on jobs
CNBC's Jim Cramer says no matter your view on President Trump there's no denying we're living in the best labor market in more than a generation.
1
105950
Guest
i'm 31 and have never seen a healthier economy than what it is today. We are definitely in extra innings as far as growth, a decline is 100% due, but i don't see that happening until 2022 honestly.
I don't see how anybody can disagree, I really don't
I don't see how anybody can disagree, I really don't
- Dec 27, 2014
- 35,782
- 78,686
Here we go again with the unemployment percentage
I don’t think anyone disagrees that the economy is doing well. People disagree with who it’s benefitting and how much of it is due to Trump.
- Jul 27, 2013
- 12,110
- 14,949
- Jul 29, 2012
- 4,992
- 5,815
The 1,000,000,000,000+$ tax plan is regressive. The tax rate for corporations from 35% to 21% is permanent, while the "tax cut" for individuals is temporary and decreased the top tax rate (richest people) to 37%. Lowered the tax rates on the richest, and lowered the tax rates on companies. In 2025, the individual tax rates will have completely regressed and we can spend another trillion if we want to kick the can down the road for some years to keep things going. income inequality in the U.S. — already at a 50-year high — is expected to worsen.
https://www.cbsnews.com/news/two-years-after-trumps-tax-reform-the-middle-class-is-struggling/
https://www.cbsnews.com/news/two-years-after-trumps-tax-reform-the-middle-class-is-struggling/
