U.S. Economy Added 531K Jobs in October, Unemployment Rate Falls to 4.6%

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Biden is the “Greatest Jobs President” that Trump only wished he was! Trump only promises, but only Biden delivers!

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You need on an average about 230,000 employment to stay even because of change over. So this is great news!

Before ignorant Dimocrats join old illegit farting (and pants pooping) Joe for another premature and undeserved victory lap, it should be made clear that these are NOT new jobs. These are almost exclusively people returning to work. If there are still 4.2 million fewer people working than February 2020 then this isn't celebration time. It's crazy the things some of you flail your pompoms over. The only sector that has job gains is the Federal government which is exactly what we don't need. History repeats as we watched illegit Joe as then VP squander $966 billion (that's nearly a trillion) on little accomplished Obama's stimulus program that embarrassingly created ZERO private sector jobs. It did create government jobs while also providing payoffs to Obama supporters.

Oligopoly. A Fancy Pants Word For An Old Virulent & Uncurable Disease: Corporate Greed. Brought to you by the same folks who support the profits of vaccine denial. See https://stats.oecd.org/glossary/detail.asp?ID=3270 But y'all wanna believe price are high cuz we ain't havin' enuff truck drivers cuz so many got the COVID and died. Good Grief! Makes me wish we could have an addendum to the Bill of Rights: The Right to A Well Regulated Economy. (Insert this after the First Amendment.) Thanks again, @TheDarkSide for another great crosspost – Robert Reich wrote: "What’s really driving inflation? Corporate power. ... Corporations are using the excuse of inflation to raise prices and make fatter profits. The result is a transfer of wealth from consumers to corporate executives and major investors. This has nothing to do with inflation, folks. It has everything to do with the concentration of market power in a relatively few hands. ... Again, inflation isn’t driving most of these price increases. Corporate power is driving them. RR" Read more here: https://www.causes.com/comments/1507752

What’s really driving inflation? Corporate power. The biggest culprit for rising prices that’s not being talked about is the increasing economic concentration of the American economy in the hands of a relative few giant big corporations with the power to raise prices. If markets were competitive, companies would seek to keep their prices down in order to maintain customer loyalty and demand. When the prices of their supplies rose, they’d cut their profits before they raised prices to their customers, for fear that otherwise a competitor would grab those customers away. But strange enough, this isn’t happening. In fact, even in the face of supply constraints, corporations are raking in record profits. More than 80 percent of big (S&P 500) companies that have reported results this season have topped analysts’ earnings forecasts, according to Refinitiv. Obviously, supply constraints have not eroded these profits. Corporations are simply passing the added costs on to their customers. Many are raising their prices even further, and pocketing even more. How can this be? For a simple and obvious reason: Most don’t have to worry about competitors grabbing their customers away. They have so much market power they can relax and continue to rake in big money. The underlying structural problem isn’t that government is over-stimulating the economy. It’s that big corporations are under competitive. Corporations are using the excuse of inflation to raise prices and make fatter profits. The result is a transfer of wealth from consumers to corporate executives and major investors. This has nothing to do with inflation, folks. It has everything to do with the concentration of market power in a relatively few hands. It’s called “oligopoly,” meaning that two or three companies roughly coordinate their prices and output. One example of an oligopoly in household staples: Procter & Gamble and Kimberly Clark. In April, Procter & Gamble announced it would start charging more for everything from diapers to toilet paper, citing "rising costs for raw materials, such as resin and pulp, and higher expenses to transport goods." Baloney. P&G is raking in huge profits. In the quarter ending September 30, after some of its price increases went into effect, it reported a whopping 24.7% profit margin. Oh, and it spent $3 billion in the quarter buying its own stock. How can this be? Because P&G faces very little competition. According to a report released this month from the Roosevelt Institute, "The lion’s share of the market for diapers,” for example, “is controlled by just two companies (P&G and Kimberly-Clark), limiting competition for cheaper options." So it wasn’t exactly a coincidence that Kimberly-Clark announcedsimilar price increases at the same time as P&G. Both corporations are doing wonderfully well. But American consumers are paying more. Or consider another major consumer product oligopoly: PepsiCo (the parent company of Frito-Lay, Gatorade, Quaker, Tropicana, and other brands), and Coca Cola. In April, PepsiCo announced it was increasing prices, blaming "higher costs for some ingredients, freight and labor." Rubbish. The company recorded $3 billion in operating profits and increased its projections for the rest of the year, and expects to send $5.8 billion in dividends to shareholders in 2021. If PepsiCo faced tough competition it could never have gotten away with this. But it doesn’t. In fact, it appears to have colluded with its chief competitor, Coca-Cola – which, oddly, announced price increases at about the same time as PepsiCo, and has increased its profit margins to 28.9%. And on it goes around the entire consumer sector of the American economy. You can see a similar pattern in energy prices. Once it became clear that demand was growing, energy producers could have quickly ramped up production to create more supply. But they didn’t. Why not? Industry experts say oil and gas companies (and their CEOs and major investors) saw bigger money in letting prices run higher before producing more supply. They can get away with this because big oil and gas producers don’t face much competition. They’re powerful oligopolies. Again, inflation isn’t driving most of these price increases. Corporate power is driving them. RR

If you’re blaming the right for not acknowledging, congrats on being programmed by your party as a useful id!0t. If we credit a certain political party over the other, this bi partisan BS will never end

Junk jobs at minimum wages No reason for the government to brag. People have to eat so you take whatever they give you to stay alive

Pretty amazing considering a lot of people have quit their jobs due to mistreatment by Big Business.

If you can say unemployment has dropped with a straight face then you can't see the growing numbers of homeless. Sure they can't get a job and the best employees who have a residence are in demand but then it is government inflation and bad policies that have lead to this problem and it is growing for those who fall off and instead of our government helping to pick them up We are allowing millions of illegals in and they are apparently expected to take those jobs paying to little and cannot help today's American's get back on there feet from the inflation government caused. If you feel bad of course it's COVID.

Unemployment rate is trending well; however, the bigger problem is the participation rate which is still hurtfully low and exacerbated by current administration policies that are supportive of people staying out of the workforce. We need people going to work and not staying home. Unfortunately, it seems a fair number of people discovered they could get by on very little during the lock down and are loath to crank it back up. I get it, but society should not be bending over backward making it easy for them to continue this.

Garbage!

Job market is good. Now let's get women some help with child care and then a lot of job vacancies will be filled. This country underestimates the impact women employees have.

That all sounds good to me!

The economy is doing great, less unemployment, corona virus is slowly getting under control do mandates, infrastructure bill was past, granted there are shortages in goods and services due to the labor pool cause by the lack of immigrate and women in the workforce. The build back better should help women, immigration, education, climate change, funding of the police and the economy. Just like ACA or Obamacare help the American people!

That's why there are help want signs every where

Glad i am retired but this is good news.

Comrade @Carina Troll or Bot? Glowurm wrote: "Carina must be a bot, Dave. I, truly, cannot believe anyone can be that limitlessly stupid." If I understand correctly, the Puppet Master behind @Carina could be either at various times. A Bot Is an automated program that makes comments from a set of scripts. A Troll is a person who posts inflammatory, insincere, digressive, extraneous, or irrelevant messages in an online community with the intent of provoking readers into displaying emotional responses or manipulating others' perceptions. My money is on @Carina being a Troll who relies on Extremist Conservative scripts. I think that @Carina never reads others' posts but reads at least the question but usually not the full lede. There is never any substance to the comments "she" makes; there is only negative sentiment. This makes "her" seem stupid. I also tend to believe that @PattiZ comes from the same Troll Farm. I think Trolls make it easier for others who buy into Right-wing Rhetoric to express themselves and believe their views are validated. Just pay attention to how "she" operates and try not to let "her" comments keep triggering you. Or not.

Unemployment is going down because of the Coronavirus is killing working people off. Here are the Coronavirus figures since January 20th at noontime to present 289 days 21,743,906 new cases last 2 days 158,492. Deaths 479,517 new deaths last 2 days 3,081. President Trump had in one full year of the epidemic with no vaccines until the last 38 days the following: Cases 24,717,808 Deaths 274,761. Comrade dear leader Beijing Biden has had with three vaccines the following: after his first year. Cases 27,462,027 Deaths 605,618. Yet he leaves the border wide open with no quarantine or testing. They are released without the vaccines. Closed the border and build the wall. He won’t tell you or the media but there is a caravan with 75,000 Haitians heading north to our border and the government and press know it and he does nothing to get Mexico to stop them. When they arrive at the end of this month from South America he will act surprised. Remember the 15,000 Haitians under the bridge well this is going to be worst. IMPEACH FORTY SIX