3 ms·
So if you guys had actually clicked on my link, you'd see that much of the highlighted issue was that 1) all of the months before the December yearly adjustment
by wcunning 3y ago
So if you guys had actually clicked on my link, you'd see that much of the highlighted issue was that 1) all of the months before the December yearly adjustment were down, so we adjusted down, then at the end of the year we adjusted the whole shebang back up. 2) The negative data was actually mostly tied to the household survey for unemployment and general financial health. Overall, we're seeing people complain that life is hard to afford and there's a general upward trend of low-wage positions (low wages are getting less low over time, more than higher wages are). This backed up my current employer, one of the Big 3 automakers having just massively increased the line worker salary in the UAW negotiation (to something like 2.5x what a Tesla assembly worker makes) while having suppressed promotions and wage increases in white collar areas. The government and health care sectors are up but counter cyclical. Similarly, construction is up in places like Michigan not because people are building more (just check the construction surveys for that one) but because the state finally saved some money for fixing the damn roads, then got a windfall of COVID assistance that had to be spent, not saved, and had to be used quickly, so they turned fixing 2 freeways into fixing 5 freeways simultaneously, which requires a lot of additional road construction workers. As another commenter further down pointed out, those jobs are not sticking around past 2026, when most of that work is scheduled to end. Meanwhile, the announcements of layoffs in anything that makes over $80k/yr is increasing...