Watch The X22 Report On Video
No videos found
Click On Picture To See Larger Picture
The people are moving out the states that are imploding. Soon the people in those states will turn on their fake leaders. Job numbers do not match up. The [CB]/[WEF]/Biden admin are trying to push thru the GND, this push will fail, new house equals game over. The [DS] is now spinning the Hunter Biden laptop story again, reporters are blocking people, this is panic and pain all at the same time and this is just the beginning. The [DS]/Fake news is trying to convince the public that Trump wants to suspend the Constitution, the [DS] has been knowingly going against the Constitution and now they are supporting it because they think Trump wants it suspended. What happens if in the middle of the storm, the Biden admin orders the suspension of the Constitution?
(function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");
Economy
https://twitter.com/Peoples_Pundit/status/1599817862868537346?s=20
Labor Report Shows 263,000 Jobs Added in November, Combined with Significant Wage Growth 0.6% For Month
There?s a disconnect in the Main Street data that is perplexing from the standpoint of traditional economic and labor analysis.
There have been significant layoffs in the labor market as the result of diminished consumer spending activity. However, the Bureau of Labor and Statistics (BLS) is reporting a hotter than expected 263,000 new jobs in November [DATA HERE].
There were declines in jobs within the retail sector [-30,000 in Nov, -62,000 since August] and declines in warehousing and transportation [-15, 000 in November, -30,000 since July], which would indicate the outcome of lowered consumer spending on goods, or at least a change in consumer spending priorities.
Simultaneously, there were significant increases in jobs for leisure and hospitality [+88,000 in Nov], with the majority of those gains in food service and drinking. However, that sector is still lower than the pre-pandemic by -980,000 jobs. Also note people are not attending events with high ticket costs, the performing arts and spectator sports segment dropped 7,000 jobs [Table B-1]
Overall, if you were to look at the macro level jobs report, anything attached to the traditional spending of durable goods (retail stores) is declining. However, the jobs related to the service or life experience are growing. Oddly, and perhaps creepily, this dynamic falls in line with the ?you will own nothing and be happy? cliche? that has been oft spoken about the new post pandemic ?Build Back Better? economy as espoused by the World Economic Forum.
Job gains in the infrastructure of life such as, building and construction, as well as the labor sector associated with skilled domestic service trades like plumbing, electricians, maintenance, etc are continuing to hold stable. The major shift in the labor market surrounds the buying of durable goods which has disappeared along with the disappearance of discretionary income.
Wage growth was a very high 0.6% for November and brings the annual rate of wage growth to 5.1%. This outcome is almost certainly an outcome of workers demanding higher pay to cope with inflation, and employers needing to raise their wage rates in order to retain employees.
We also see an increase in the number of workers holding multiple jobs, as individuals are taking second jobs to cope with massive price increases in housing, food, fuel and energy. As noted within the BLS data:
Higher wages are good; however, higher wages lead to higher prices for goods and services; which drives inflation higher, which creates the need for higher wages.
2022-12-06
Link to episode