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emperor1978 t1_j37cph5 wrote

Reply to comment by _synik in Nonfarm payrolls rose 223,000 in December, as strong jobs market tops expectations by caesar____augustus

We exceeded pre-pandemic job numbers in August (152.5 M). We're now about 154 M. So we're about 1.5 M jobs beyond that mark.

In other words, you're wrong. This is new job growth and it accompanies a historic low in unemployment.

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fatcIemenza t1_j37f21s wrote

Jerome Powell taking more Ls than Kevin Mccarthy

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themagicalpanda t1_j37jhzg wrote

how is jerome powell taking Ls? this is the soft landing he's been wanting.

inflation starting to cool (and hopefully continues) while unemployment stays steady is great and absolutely what the fed wants to see.

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pinetreesgreen t1_j37mgvt wrote

The fed is looking for a softening job market to start lowering/stop hiking interest rates. They say that a lot publically.

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themagicalpanda t1_j37qi5z wrote

Right, the goal is to achieve maximum employment while hitting 2% inflation. I expect unemployment to tick up over 2023(hence softening of the market) but with last month's CPI report coming in lower than expected and the jobs data that was just released, it's looking pretty good. We still have a long ways to go to 2%, but it's on the right track.

Wages are also cooling which the Fed has been worried about wage-price spiraling.

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Savage_X t1_j38ruc3 wrote

But they don't want to lower interest rates, unless they are forced to. So full employment with moderate wage growth / inflation is exactly what they are hoping to achieve.

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fatcIemenza t1_j37oow8 wrote

He openly wants a recession so the fake economy looks better and doesn't care who loses their job and goes broke in the meantime

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