Sleepy Joe created a disaster . Millions of job openings nobody will work

piezoe · Mar 25, 2021

newwurldmn said:
Your guess is wrong. It is just inflationary. Just like increasing taxes doesn’t demotivate entrepreneurs, increasing wages doesn’t motivate employees. We saw this in 2017/2018 when there was wage inflation due to a strong economy.

Now there’s wage inflation due to government unemployment and you can see my graphs from Fred, there are so many vacant jobs while unemployment is high.

We may both be right!

newwurldmn · Mar 25, 2021

SunTrader said:
Gee guess everyone is not sitting home counting their stim money and how many songs they can download with it:-

(Briefing.Com)

"Initial jobless claims, though, could strike a chord. They declined by 97,000 to 684,000 (Briefing.com consensus 710,000) for the week ending March 20. Continuing claims for the week ending March 13 decreased by 264,000 to 3.870 million.

The key takeaway from this report is that initial claims are the lowest they have been since March 2020. Granted initial claims are still high, yet the directional movement fits the bill of an improving economy that requires increased hiring activity and reduced layoff activity."

obviously they will fall - but they should be falling a lot faster.

SunTrader · Mar 25, 2021

newwurldmn said:
obviously they will fall - but they should be falling a lot faster.

Why?

Retails sales were down last month - weather related.

Which also affects construction.

And unless some are hopping on planes (obviously some are but not full bore yet) to go to warming climate, travel and leisure is affected.

Then there are still partial shutdowns, like only 25 or 50% attendance at sporting events, movies and other live shows, so why then exactly should numbers be dropping faster?

newwurldmn · Mar 25, 2021

SunTrader said:
Why?

Retails sales were down last month - weather related.

Which also affects construction.

And unless some are hopping on planes (obviously some are but not full bore yet) to go to warming climate, travel and leisure is affected.

Then there are still partial shutdowns, like only 25 or 50% attendance at sporting events, movies and other live shows, so why then exactly should numbers be dropping faster?

look at the data I linked to from FRED. no more anecdotes or speculation. Open job postings crazy high. Unemployment crazy high. How can that be???

SunTrader · Mar 25, 2021

newwurldmn said:
look at the data I linked to from FRED. no more anecdotes or speculation. Open job postings crazy high. Unemployment crazy high. How can that be???

Such as job openings (most recent data Jan'21

) were below the pre-Covid Jan'20 figure? No surprise there. Lesser quantity available.

But then I would still have to ignore what I just posted yesterday, about the most recent initial jobless claims report that was " ... the lowest they have been since March 2020".

newwurldmn · Mar 25, 2021

SunTrader said:
Such as job openings (most recent data Jan'21 ) were below the pre-Covid Jan'20 figure? No surprise there. Lesser quantity available.

But then I would still have to ignore what I just posted yesterday, about the most recent initial jobless claims report that was " ... the lowest they have been since March 2020".

Look at the 10 year trend and compare it to the unemployment rate, you will see how these jobs should be gobbled up and aren’t.

initial jobless claims will be down because companies are net wanting to hire and can’t. an employee who quits doesn’t get unemployment. So you don’t let them go and they can’t leave.

SunTrader · Mar 25, 2021

newwurldmn said:
Look at the 10 year trend and compare it to the unemployment rate, you will see how these jobs should be gobbled up and aren’t.

initial jobless claims will be down because companies are net wanting to hire and can’t. an employee who quits doesn’t get unemployment. So you don’t let them go and they can’t leave.

Got an answer for everything. They can't leave ... yet there is no one wanting to replace them because of all the free money. What's an employer to do?

Keep believing it - and maybe wait for "the ink to dry" on my post before replying. Better yet stay in your reality and I'll stay in the real world. You seem to need that security.

SunTrader · Mar 25, 2021

Some might like this ummm employment related story I just came across. Then again

maybe not:

https://www.yahoo.com/money/penny-dreadful-georgia-man-receives-084229111.html

luisHK · Mar 25, 2021

I like the quote below, makes a lot if sense this year :

newwurldmn · Mar 26, 2021

SunTrader said:
Got an answer for everything. They can't leave ... yet there is no one wanting to replace them because of all the free money. What's an employer to do?

Keep believing it - and maybe wait for "the ink to dry" on my post before replying. Better yet stay in your reality and I'll stay in the real world. You seem to need that security.

the economy is reopening. Businesses need people. Job openings are very high. Unemployment is very high. Why aren’t all those jobs being filled by all those unemployed people?

Initial jobless claims are low means few workers are being laid off right now. An employee can’t quit and get the unemployment benefits. Companies can’t hire replacement employees. What do they do? Not lay-off bad employees.

Come on! The data is all there. You see the story in the information.