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| Economy |
| USA Employment growth slows |
| 2021-10-08 |
| [USBureauOfLaborStatistics] Total nonfarm payroll employment rose by 194,000 in September, Average hourly earnings for all employees on private nonfarm payrolls rose by 19 cents to $30.85 in September, following large increases in the prior 5 months. ------------- The number of unemployed persons fell by 710,000 to 7.7 million. The number of long-term unemployed (those jobless for 27 weeks or more) decreased by 496,000 in September to 2.7 million but is 1.6 million higher than in February 2020. In September, 13.2 percent of employed persons teleworked because of the coronavirus pandemic, little changed from the prior month. The first two items are from the payroll report. The last three are from the household survey. That is why there is a disconnect this month. The post Covid economy is emerging slower than expected and, at least this month, wage gains are essentially all cancelled out by inflation. |
| Posted by:Lord Garth |
| #11 Very good news for Russia |
| Posted by: Glomons Clurt2330 2021-10-08 22:32 |
| #10 May I suggest, "Buy American, Demand American" other wise, No American Wins for the Long Term. Musical Interlude |
| Posted by: Glosing Angurt1444 2021-10-08 20:29 |
| #9 ^ Nice memory |
| Posted by: Frank G 2021-10-08 19:52 |
| #8 "Three letters, JOBS"' |
| Posted by: newc 2021-10-08 17:07 |
| #7 Back to the 1970s, more like |
| Posted by: Ebbolutle Darling of the Faeries3009 2021-10-08 15:09 |
| #6 WTI Crude near $80 as of a few minutes ago. North Sea Brent a few dollars above that. This is not good, but then again, back in the Obama years before fracking was big, WTI was above $100. |
| Posted by: Lord Garth 2021-10-08 15:07 |
| #5 Just in time logistics and the insanity of a manufacturing chain linked across an ocean to a political enemy (China) is astonishing. Insanity defines our era |
| Posted by: Thumper Henbane9600 2021-10-08 13:35 |
| #4 I recall in threat assessment analysis that one of the key metrics was the identification of "single point of failure nodes" and the design of systems around them that don't have alternatives. Just in time logistics and the insanity of a manufacturing chain linked across an ocean to a political enemy (China) is astonishing. Port throughput, labor shortages, covid insanity and concentration of virtually all trans-modal shipping points to a couple of ports, each run though a state (California) of massive over-regulation and congestion. You couldn't design a system more ideal for failure if any of the parts failed, let alone most of them. The oil spill from drift anchoring ships waiting a month for offload is just the icing on the cake. o use a favorite USMC expression, what a Jugf*ck! |
| Posted by: NoMoreBS 2021-10-08 13:02 |
| #3 Just-in-time manufacturing and logistics is a big contributor to the bottlenecks we're seeing. If demand isn't smooth and predictable, the whole just-in-time, integrated demand & supply chain model collapses. Demand is now staggered, skittish, binge & bust. |
| Posted by: Kojo Ebbutle2723 2021-10-08 11:15 |
| #2 skid, the logistics problem you noted didn't show up on the 2021 GDP 2nd Q (ending 30 June) estimate released 1 Oct. the initial estimate of the 2021 GDP 3rd Q (ending 30 Sept) is due in late Dec 2021 |
| Posted by: Lord Garth 2021-10-08 11:12 |
| #1 Talked to my tractor guy just back from a regional Kubota sales conference in Ft. Worth. The news was grim. While they can sell everything they can make (in Japan), it can't get here. Surplus scheduled for 2022 won't show up until 2023. Kubota has moved to a just-in-time inventory sales model. You buy one, they build it and ship it. No more sales off the lot. |
| Posted by: Skidmark 2021-10-08 10:56 |