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Economy

progree

(12,428 posts)

1. supposedly there were enough workers around in October for there to be a gain of 237000 payroll jobs

Reply to mahatmakanejeeves (Original post)

Thu Dec 13, 2018, 03:53 PM

Dec 2018

Last edited Fri Dec 14, 2018, 02:09 PM - Edit history (1)

but suddenly, one month later, in November, there just weren't enough workers around to produce more than a tepid gain of 155,000 jobs (a 35% drop from October).

That is not the way the U.S. labor market functions. You don't have that big of a drop in labor availability in just one month.

"Last week’s sharp drop in claims also suggests a slowdown in job growth in November was likely the result of worker shortages. Nonfarm payrolls increased by 155,000 jobs after surging by 237,000 in October.

Edited to add: these numbers are seasonally adjusted, in case someone is tempted to try to concoct some calendar-based explanation, like nobody gives a fuck about finding a job during Thanksgiving week or somesuch.

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U.S. labor market tightening; inflation pressures muted [View all] mahatmakanejeeves Dec 2018 OP

supposedly there were enough workers around in October for there to be a gain of 237000 payroll jobs progree Dec 2018 #1