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Kelly

13 days ago

ENFP
Sagittarius
The US jobs slowdown economists have been expecting isn't materializing

The latest job numbers just came out and the US economy added 528,000 jobs in July. That is double what economists expected. The unemployment rate is down to 3.5%, the lowest in nearly a half century. It's mostly good news, though the problem now is there are only 5 million people searching for jobs (1.7 million are receiving unemployment), yet 10 million open job positions. That's only 1 worker for every 2 job openings. The good side of such a tight labor market is wages are rising fast, especially for people who switch jobs right now, and people in service industries. But the bad side is that for most people except the employees at the bottom, wage growth is being outpaced by inflation, which means life is getting more expensive. So unless you've recently switched jobs in the customer service sector, chances are your spending power is lower than a year ago. What do you think will happen next with the jobs market?

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Cody

13 days ago

ENTJ
Cancer

6w7

6

7

Won't continue to improve. Not with that spending bill, it affects employers, In turn that affects employees. Many economist acknowledge a recession is imminent

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Kelly

13 days ago

ENFP
Sagittarius

It seems like according to the definition, we were already in a recession in June because it was two consecutive quarters of a downturn. But record job creation certainly doesn't normally happen in a recession. Economists are all arguing about what's really going on beneath the surface causing all these unexpected readings.

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Paul

13 days ago

INTJ
Sagittarius

5w6

5

6

One thing to consider is China is collapsing at a rate the CCP can't stop at this point. So due to globalisation manufacturing will be heavily impacted and anything to do with repairs.

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Cody

13 days ago

ENTJ
Cancer

6w7

6

7

True, more of a historic recession though is where its headed, you consider everything + more spending. Its basic economics that has an affect, can it be offset? Yes but I have zero faith in governments ability or willingness to attempt to do so. You're seeing record unemployment because people need more jobs, plenty have attested to that, California especially but that wasn't abnormal because yeag its California. Left, right or center. The money their spending is tax money, additional tax money to what would normally be given, nothing out of the ordinary except its literally out of control over spending.

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Kelly

13 days ago

ENFP
Sagittarius

The CCP is doing all kinds of absolutely insane and unprecedented things with the Chinese economy, but I definitely don't see the country collapsing any time soon.

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Paul

13 days ago

INTJ
Sagittarius

5w6

5

6

The citizens are losing trust in banks after rural independent banks scammed depositors out of their money and ran. People are threatening / actively stopping mortgage payments to real estate developers who in turn can't afford to even build the already sold properties, that don't exist, due to debt. GDP is 30% from real estate. People are actively losing trust in the CCP. Who keep responding with force to citizens frustrations with the banks and real estate. Many youths are embracing "lying flat" / "let it rot" mentality of essentially giving up due to the rigged system. Too many things are escalating and the CCP are too stupid to understand, and fix, the problems going on everywhere. This includes zero covid policies still taking effect shutting down cities etc.

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Kelly

13 days ago

ENFP
Sagittarius

Yes, I think part of the problem is there aren't better jobs. If the options were better and pay were better I bet more people would join the workforce. A government needs to use spending to make big changes. The question is whether those changes help or harm the situation. Like if the government caused more semiconductor chips to get manufactured, it would help address the chip shortage.

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Cody

13 days ago

ENTJ
Cancer

6w7

6

7

True. Im for better jobs who couldn't be. Wages need to never out pace inflation. Thete was a time when wages far exceeded the standard of living. That's not only what we deserve thats the way it SHOULD be for a prosperous society The changes they've attempted to make are usually reactions to bad economic conditions, never offsets it or resolves it for years to come typically. I'm all for clean energy, but were not really there technologically, I think more research and perfection of those resources are needed but honestly if the government cared about clean energy they wouldbe released Nikola teslas work instead of holding onto his files than "losing" them... so I just can't believe they care. I'm for more chips, its needed in modern era, there is a shortage. I certainly want to get a better graphics card that isn't over priced lol yeah I support it 🙌

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Kelly

13 days ago

ENFP
Sagittarius

Yes, all that is happening, and it's causing widespread suffering. But that isn't the same as a country collapsing. I've seen no signs the CCP's hold on power is slipping. In an authoritarian country, you can be a bad leader and stay in charge.

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Paul

13 days ago

INTJ
Sagittarius

5w6

5

6

Only until the population says living under them is worse than death.

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Cody

13 days ago

ENTJ
Cancer

6w7

6

7

Never be out paced by inflation * Won't let me edit

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Kelly

13 days ago

ENFP
Sagittarius

Yes, but I just haven't seen signs they're anywhere close to that. The things they're doing to protest, like lying flat and letting it rot, are more about being passive than fighting back or enacting change. Chinese citizens also don't have full access to information of what's going on in other parts of the country or the rest of the world.

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Paul

13 days ago

INTJ
Sagittarius

5w6

5

6

I'd say it's not just their citizens fighting back. It's also the rampant corruption within the party and institutions. They're as busy firefighting in the party as dealing with domestic and international problems. Plus growing disdain in outside countries towards the CCP as more people pay attention to what's happening globally.

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Kelly

13 days ago

ENFP
Sagittarius

Yes, I think we'll all have a better idea in September when we learn if Xi secures a 3rd term. That will help the world see whether or not he still has tight control.

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RELATED POSTS

Kelly

1 month ago

ENFP
Sagittarius
There’s a vastly overlooked factor that’s stoking record inflation: Rich people

Inflation is when prices are going up because there's too much money chasing too few goods. When there's enough goods for everyone, the price stays the same. But when there's not enough goods to satisfy demand, the prices go up as people compete to get what they want. So inflation is caused by 2 things: demand (total amount of money available and desire to spend) and supply (whether sellers can or will make enough stuff to satisfy demand). Inflation is always caused by both, but often favors one more than the other. Now to 2022. The US is experiencing historically high but not crazy inflation. Besides food and oil, which are greatly affected by global events right now, the majority of inflation in the US in 2022 comes from services and high-value items like laptops, cars, and home improvements. Those are the prices that are going up the most. Who's been buying all that stuff? The people who profited from business, stocks, crypto, and rising home prices over the pandemic. They are newly flush with cash and willing to bid up prices in a time where there's not enough stuff for everyone. They don't notice the price increase while lower income people feel it hard. I've heard people say US inflation right now is mainly caused by stimulus checks and child care credits, yet that money was spent long ago and overall contributed a miniscule amount of the money spent in the goods driving inflation. I'm not proposing anything; just noting the situation seems different from how it's presented in the news. I'd love or hear your thoughts on this, inflation, causes, or anything else. Comment below!

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