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progree

(11,463 posts)

14. Here's some positives - A 0.4% increase in average hourly earnings, and a longer workweek

Reply to BumRushDaShow (Original post)

Sat Sep 7, 2024, 12:31 AM

Sep 7

https://www.msn.com/en-us/money/markets/the-august-jobs-report-dashes-hopes-for-a-big-interest-rate-cut/ar-AA1q8vYk

Offsetting the miss on payrolls was a rebound in the workweek to 34.3 hours, which Joseph Carson, former chief economist at AllianceBernstein, says is equivalent to hiring several hundred thousand workers.

Hmm. From Table B, it went up by just 0.1 hours, from 34.2 in July to 34.3 in August. And that could be a much smaller change that rounded to the next 0.1.

It was 34.4 hours in August 2023, and 34.3 hours in June 2024.

https://www.bls.gov/news.release/empsit.nr0.htm
Table B-1. Employees on nonfarm payrolls by industry sector and selected industry detail
https://www.bls.gov/news.release/empsit.t17.htm

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August payrolls grew by a less-than-expected 142,000, but unemployment rate ticked down to 4.2% [View all] BumRushDaShow Sep 6 OP

Not great, but OK IronLionZion Sep 6 #1

With the big 86k downward revisions of prior 2 months, we only have 56,000 more jobs than in last month's report progree Sep 6 #3

Agreed IronLionZion Sep 6 #5

So you think they are going to go "aggressive" BumRushDaShow Sep 6 #6

I might have gotten "ahead of myself", maybe have egg all over my face already progree Sep 6 #7

You're reading that CME site wrong Johnny2X2X Sep 6 #8

Your're right. I corrected my previous. Thanks much /nt progree Sep 6 #12

I actually have a sub to Bloomberg BumRushDaShow Sep 6 #10

Recent auction results at Treasury Direct, FWIW: mahatmakanejeeves Sep 6 #11

On scaring people with a 0.50% rate cut progree Sep 6 #13

As a comment to this BumRushDaShow Sep 7 #15

LINKS to some BLS Data Series Numbers and Graphs. And yes these are NET job gains progree Sep 6 #2

Well, my 401K will add to the pain today because PAAANIC! Happy Hoosier Sep 6 #4

This is actually good news for the economy as a whole. Yavin4 Sep 6 #9

Here's some positives - A 0.4% increase in average hourly earnings, and a longer workweek progree Sep 7 #14