September brought just 29,000 new jobs and two months of downward revisions. But unemployment barely budged. That tells us something important about how the economy has changed
Dear Professor Wolfers. I would like to make a request for a future topic you may address. Job growth in the US is dominated within the services and healthcare sectors. AI investment is propping up the markets, reportedly with no significant contributions to revenue creation. I have no doubt that these are factual data sets. If so, where and how is wealth being created and most importantly, being distributed?
Can it be argued that wealth derived from these sectors are being is being upward to insurance, pharmaceutical, a small percentage of technology companies, and investment houses?
During the era when agriculture was moving from subsistence farming to a growth industry monasteries became valuable properties since they held the knowledge of enhanced agriculture production. The religious houses were in conflict by feudal lords as well as sacked by invading hordes to acquire this knowledge in addition to the wealth and assets accumulated by the “competitors.”
Fact or theory, it appears that the gist of the idea is that the recent economic transfers have been ongoing and particularly within the US has multiplied to levels never existing in the past. Any comments or thoughts you may share on this issue at a future date will be compelling
Your jobs growth chart since Jan 2025 tells me than although many men elected Trump, Trump turned around and created ten times as many new jobs for women, and left the men behind in the AI dust. Well, the latter remains to be seen, but it does seem ironic. btw, Are biotech and pharmaceutical and life sciences companies included in your "Healthcare" jobs category?
Thank you for this explanation. It helps me to understand what is really going on without all of the "noise". As someone who has only a rudimentary understanding of economics, your newsletters and videos are a boon. And also, thank you for your calm demeanor and simplifying the information without being patronizing. Much appreciated.
Another important factor holding down growth in nonfarm payrolls is demographics. Specifically, the large number of baby boomers who are turning 65+ and are retiring. Reasonable estimates for the "steady state" number of job gains (including the impact of immigration that Justin describes) is anywhere from 0-60,000 per month. Taking the mid-point, 30,000 is the new 180,000!
Well they’ve taken a bunch of workers out of the mix, so the denominator is shrinking. It’s like robbing Peter to pay Paul.
Meanwhile my 23 year old can’t find a job, SO yeah, deferred misery for now. The foolish man build a house on sand…
Dear Professor Wolfers. I would like to make a request for a future topic you may address. Job growth in the US is dominated within the services and healthcare sectors. AI investment is propping up the markets, reportedly with no significant contributions to revenue creation. I have no doubt that these are factual data sets. If so, where and how is wealth being created and most importantly, being distributed?
Can it be argued that wealth derived from these sectors are being is being upward to insurance, pharmaceutical, a small percentage of technology companies, and investment houses?
During the era when agriculture was moving from subsistence farming to a growth industry monasteries became valuable properties since they held the knowledge of enhanced agriculture production. The religious houses were in conflict by feudal lords as well as sacked by invading hordes to acquire this knowledge in addition to the wealth and assets accumulated by the “competitors.”
Fact or theory, it appears that the gist of the idea is that the recent economic transfers have been ongoing and particularly within the US has multiplied to levels never existing in the past. Any comments or thoughts you may share on this issue at a future date will be compelling
Your jobs growth chart since Jan 2025 tells me than although many men elected Trump, Trump turned around and created ten times as many new jobs for women, and left the men behind in the AI dust. Well, the latter remains to be seen, but it does seem ironic. btw, Are biotech and pharmaceutical and life sciences companies included in your "Healthcare" jobs category?
Thank you for this explanation. It helps me to understand what is really going on without all of the "noise". As someone who has only a rudimentary understanding of economics, your newsletters and videos are a boon. And also, thank you for your calm demeanor and simplifying the information without being patronizing. Much appreciated.
Another important factor holding down growth in nonfarm payrolls is demographics. Specifically, the large number of baby boomers who are turning 65+ and are retiring. Reasonable estimates for the "steady state" number of job gains (including the impact of immigration that Justin describes) is anywhere from 0-60,000 per month. Taking the mid-point, 30,000 is the new 180,000!