Here's the report: https://www.bls.gov/news.release/empsit.nr0.htm https://www.bls.gov/news.release/empsit.nr0.htm A few highlights from the report itself (to

Here's the report: https://www.bls.gov/news.release/empsit.nr0.htm https://www.bls.gov/news.release/empsit.nr0.htm A few highlights from the report itself (to clarify from spin): +353,000 in January, similar to revised December gain of 333,000. January monthly figures: Professional and business services: +74,000 jobs Healthcare: +70,000 Retail trade: +45,000 Social assistance: +30,000 Manufacturing: +23,000 Government employment: +36,000 Information: +15,000 But huh? How could that be? From the report: "In January, employment in information continued its upward trend (+15,000). Employment in motion picture and sound recording industries increased by 12,000, while employment in telecommunications decreased by 3,000. Overall, employment in the information industry is down by 76,000 since a recent peak in November 2022." Continuing... Mining, quarrying, and oil and gas: -5,000 Construction, wholesale trade, transportation and warehousing, financial activities, leisure and hospitality, and other services: "little change" Overall, average hourly earnings are up "19 cents, or 0.6 percent, to $34.55" -- I wonder what the mean is. What's more, employment "for December was revised up by 117,000, from +216,000 to +333,000". So these are super-strong numbers, and not "just government" though yes largely services (ex programmers). Remember that interest rates are currently restrictive and that money supply (M2) while having ticked up a bit lately, has fallen significantly for the last two years. M2: https://fred.stlouisfed.org/series/WM2NS https://fred.stlouisfed.org/series/WM2NS "Real M2": https://fred.stlouisfed.org/series/M2REAL https://fred.stlouisfed.org/series/M2REAL According to real M2 we've basically absorbed the Covid helicopter cash drops? As for programming jobs, that's likely, don't you think, an interest rate story, since startups and early stage ventures are highly interest rate-sensitive? But... it might be that LLMs actually... increase programmer hiring, as more projects become financially viable, if LLMs increase developer productivity? I hope so. What do you think?