Another disappointment: US economy adds only 194,000 jobs in September

[DJ Paul's Arm]

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Another disappointment: US economy adds only 194,000 jobs in September
By Anneken Tappe, CNN Business
Updated 11:01 AM EDT, Fri October 08, 2021

New York(CNN Business)America's economic recovery has hit a roadblock: US employers added only 194,000 jobs in September, another troubling sign that Covid is disrupting the economy.

It marked the second-straight month in which the US economy added far fewer jobs than expected. Jobs growth slowed down dramatically in August.

The unemployment rate declined to 4.8% in September, the Bureau of Labor Statistics said Friday, down from 5.2% in August. Joblessness declined across the board, with the Black unemployment rate falling the most of any group -- to 7.9% from 8.8% in August.

But if you're an optimist, there is reason to be hopeful about the future: The surveys behind the jobs report were completed around the middle of September when Covid infections began to plateau. They have been on a steady decline since mid-September, a reason to be hopeful about job growth in October.



Jobs report: US economy adds only 194,000 jobs in September - CNN

 

[Rawtid]

What are the salaries of said jobs? All of it is disappointing when they aren't paying shyt.

 

[levitate]

Unemployment rate dropped though.

Who in the hell thought that we’d add half a million jobs??? (Those were the projections)

 

[cobra]

no tapering

crypto bull run continues

 

[BaltimoreTwilightMarauder]

Biden needs to go ahead and cancel student debt bc no ones voting for him as is.

He needs to start to use the power of head of the executive to actually HELP people.

If he doesn't do this than his ratings will CRATER after dems lose congress

 

[levitate]

What are the salaries of said jobs? All of it is disappointing when they aren't paying shyt.

Sad thing is a lot of these complaints aren’t even operating on razor thin margins and can clearly afford to pay more. bytch ass “shareholder value” and ceo compensation placed higher in value.

We really need some kind of hybrid socialist/capitalist system.

 

[Piff Perkins]

Biden needs to go ahead and cancel student debt bc no ones voting for him as is.

He needs to start to use the power of head of the executive to actually HELP people.

If he doesn't do this than his ratings will CRATER after dems lose congress

It only applies to people with federal loans, which isn’t a majority of loans. I agree he should do it but let’s be clear, it wouldn’t help all student loans or most.

 

[I Really Mean It]

Unemployment rate dropped though.

Who in the hell thought that we’d add half a million jobs??? (Those were the projections)

Of course the unemployment rate dropped. They ended unemployment at the start of September.

 

[Ahadi]

A lot of companies aren’t hiring. A lot of em are wasting time with multiple rounds of interviews. Looking for the overqualified (Director / senior level) applicants to accept lowball 40K salaries.

My theory is:

• They’re either testing the market for next year
• Trying to get the best bang for their buck (as mentioned above)
• Obtain some sort of govt funding for the amount of interviews and stat reporting
• A lot of them don’t have budget
• Trying to appear they care about their employees by posting “urgent hiring” on LinkedIn

 

[BaltimoreTwilightMarauder]

It only applies to people with federal loans, which isn’t a majority of loans. I agree he should do it but let’s be clear, it wouldn’t help all student loans or most.

It'll help A LOT of people

 

[Hoshi_Toshi]

So they said canceling the extra unemployment would make people go back to work. How’s that going Alabama?

don’t forgot a lot of people have died. I’m sure they worked some of these service jobs that are hiring now.

 

[AquaCityBoy]

So starving people off UI to force them back to work wasn't the massive boon to the economy the media said it would be?

It's almost as if that was a right-wing talking point that businesses ran with to get people to go back to shytty wages and bad covid protocols.

 

[DJ Paul's Arm]

Take away UI/PUA and everyone will go back to work they said

 

[At30wecashout]

Unemployment rate dropped though.

Who in the hell thought that we’d add half a million jobs??? (Those were the projections)

If you stop taking it, the rate drops. Doesnt mean you are employed. Thats like looking at Tesla stock and saying the economy is doing well.

 

[Ahadi]

So starving people off UI to force them back to work wasn't the massive boon to the economy the media said it would be?

It's almost as if that was a right-wing talking point that businesses ran with to get people to go back to shytty wages and bad covid protocols.

Why America has 8.4 million unemployed when there are 10 million job openings

The economy is undergoing massive changes. There’s a big mismatch at the moment between the jobs available and what workers want.

https://www.washingtonpost.com/business/2021/09/04/ten-million-job-openings-labor-shortage/

The rise of never-ending job interviews

It makes no sense.