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The report also contained sizable downward revisions to job growth during the previous two months. Gains for October and November were revised down by a total of 71,000 jobs to a respective 105,000 and 173,000, the government said, suggesting that the labor market is weaker than it previously appeared.

Job gains were mostly concentrated in a handful of sectors last month, with the biggest gains in government (52,000), leisure and hospitality (40,000) and health care (37,700). Hiring in construction also trended upward.

Those gains helped to offset job losses in transportation and warehousing, the result of a steep drop in the number of couriers and messengers.





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The government quietly erased 439,000 jobs through November 2023, a closer look at the numbers from the Bureau of Labor Statistics shows.

That means its initial jobs results were inflated by 439,000 positions, and the job market is not as healthy as the government suggests.

Again, the government sector in December ranked high in job creation. It created 52,000 jobs in the final month of 2023. As FOX Business's Edward Lawrence points out, that brings the three-month average of jobs created by the government sector to 50,000 per month. Lawrence says Acting Labor Secretary Julie Su "would not answer if this is sustainable when I pressed her."

Private sector job creation also was adjusted lower by 358,000 in that period, while government payrolls were revised by an increase of 52,000.

The president, too, has been accused of taking too much credit for the job numbers. He claimed he created 13 million to 14 million jobs. But economists and market analysts have pointed out those were jobs the U.S. economy clawed back after pandemic shutdowns erased 22 million jobs.

In reality, the economy under President Biden "added back" all the jobs lost in the pandemic and has "created" 4.86 million jobs since February 2020. That’s a ho-hum result.

As Edward Lawrence reports, the December jobs report shows 683,000 workers dropped out of the labor force. A record high 8.69 million people now hold multiple jobs to make ends meet. The economy lost 1.5 million full-time workers since June of last year, while adding 796,000 part-time workers.

That means more workers are holding down multiple jobs to pay for a higher cost of living due to a cumulative 17.4% inflation rate under this White House.
 

Joe Biden can blather on as much as he wants about Republican insurrectionism that never existed. I'm going to vote that the voting public could care less about what was essentially a protest rally that went bad three years ago.
 

Other indexes that rose in December included motor vehicle insurance, which rose 20.3% compared to last year, the biggest gain since 1976, per Bloomberg.

Egg prices increased a sizable 8.9% month over month after rising 2.2% in November.
 

The largest lender in the US reported Friday that it raked in a record $49.6 billion in annual net income, the most ever in the history of the American banking industry. And it happened during a year that was the scariest for the industry since the financial crisis of 2008.

That result — buoyed by better loan margins and the acquisition of failed regional lender First Republic — was 31% better than its bottom line in 2022.

"We remain confident in our ability to continue to deliver very healthy returns," CEO Jamie Dimon said in a release, while also noting that government spending "may lead inflation to be stickier and rates to be higher than markets expect."
 
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