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(CNBC)   There is it. The moment the Federal Reserve has been waiting for. Zorg Industries eliminates 1,100,000 job openings   (cnbc.com) divider line
    More: News, Central bank, level of job openings, primary area of interest, Federal Reserve System, central bank, Monetary policy, ultra-tight labor market, Money supply  
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2240 clicks; posted to Business » on 04 Oct 2022 at 12:35 PM (9 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



35 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-10-04 11:53:14 AM  
FTFA: The job market has been a primary driver of inflation, as the outsized demand for the scarce labor pool has helped drive up wages sharply

Not buying this. Then how come we had a tight labor market for years after coming back from the 2008 Crash without these numbers? This shiat started happening when global government poured billions into addressing COVID and the Russians decided to fark everyone's energy supply. Hangover plus Asshattery.
 
2022-10-04 11:58:19 AM  
Aw shiat, half the country works for Brawndo.
 
2022-10-04 12:20:36 PM  
There is it? I said there? You either tell me right now where it is, or stop making such careless and idiotic typos.
 
2022-10-04 12:38:12 PM  
"runaway inflation that has been pushed by the tight labor market. "

wanking.gif
 
2022-10-04 12:39:41 PM  
 
2022-10-04 12:43:15 PM  
I can post 50 jobs today. Pays $1. Doesn't mean I'll get applicants, just means it's posted. That's why I'm not a fan of this metric. It should be based on the quality of job.
 
2022-10-04 12:47:32 PM  

Stephen_Falken: There is it? I said there? You either tell me right now where it is, or stop making such careless and idiotic typos.


Have you met the average Farker? We cant type, but we typo very good.
 
2022-10-04 12:51:47 PM  
It's almost like job openings were at stupidly unsustainable highs or something.

Fark user imageView Full Size


Get rid of some of the excess demand of labor in the market that will simply never get filled, and inflation should cool off as you don't have to keep offering higher and higher compensation to fill it.
 
2022-10-04 1:00:37 PM  

AsparagusFTW: I can post 50 jobs today. Pays $1. Doesn't mean I'll get applicants, just means it's posted. That's why I'm not a fan of this metric. It should be based on the quality of job.


Yep.  MPOW/department was listing lots of jobs.  That they were not capable of filling because they were stuck at 2010 wages, and 2010 wages reduced by "low cost of living area".  These days, we're mostly remote and generally losing people to remote-only work. They kept listing things in part to keep the staff motivated ("we're really looking to re-fill the 7-10 empty lines in your unit").

Now, we've had enough retirement and job-hopping out of HR that the people who were listing jobs and coordinating interviews are mostly gone.  We've stopped listing because we don't really have the institutional ability any more.  Dunno how that gets turned around.
 
2022-10-04 1:02:50 PM  

AsparagusFTW: I can post 50 jobs today. Pays $1. Doesn't mean I'll get applicants, just means it's posted. That's why I'm not a fan of this metric. It should be based on the quality of job.


Also, it matters whether the person who takes that job works full time, part time, contract, or just five minutes to make that $1. It still counts them as employed.
 
2022-10-04 1:07:11 PM  
This is bullshiat and Powell should be strung up for this bullshiat.
 
2022-10-04 1:09:51 PM  

Albert911emt: Stephen_Falken: There is it? I said there? You either tell me right now where it is, or stop making such careless and idiotic typos.

Have you met the average Farker? We cant type, but we typo very good.

Met

? Have I ever met a Farker? Of course not. Meeting people is a meat thing. Fark is only a performance medium by which I can blow off steam instead of letting all my so-called friends and family know what a total jerk I really am. And I just f*cking hate headline typos, okay? Their appearance means that either Fark mods suck at their jobs so bad they shouldn't have them, or that the submitter is such a distracted wank machine that they can't be bothered in their own preciously brief attention span to even f*cking spell correctly - after which the sucky modmin screws the pooch yet again by greenlighting a stupid typo that could've been proofread by a 6th grader. w00t
Fark user imageView Full Size
 
2022-10-04 1:12:36 PM  

cocozilla: [image.cnbcfm.com image 200x150]Job openings plunged by more than 1.1 million in August

[image.cnbcfm.com image 200x150]Stocks roar back from 2022 low, S&P 500 on track for best 2-day gain in 2 years


fark WALL STREET AND THE FED


You're being redundant here. The Federal Reserve is a private organization that's run by the Wall Street banks. They are not part of the government. The let the President appoint the chairman, but they select the candidates for him to do so. They are an organization whose purpose is to ensure that the Wall Street banks "earn" maximum profits, nothing more.

Worker wages have been stagnant for the last 40+ years while CEO pay has increased 1460% in that same time. Take a wild guess at who the Federal Reserve thinks is overpaid. They are actively creating a system where there's only CEOs and serfs and you are not going to be a CEO.
 
2022-10-04 1:13:49 PM  

dr_blasto: This is bullshiat and Powell should be strung up for this bullshiat.


Joe really needs to pull some strings with Powell. This ain't helping his or our cause at all
 
2022-10-04 1:14:02 PM  
I'm not worried.  I work for Zombo.
 
2022-10-04 1:40:41 PM  
With Rick Santelli's smiling face.  Did he call the non-openings "losers."

But bad news is good news for the market.  Yippy kay yay
 
2022-10-04 1:47:23 PM  
Whew!  I was worried we'd have to do something crazy, like reduce executive pay to a reasonable salary or stop price using poor supply chain management to justify price gouging.
 
2022-10-04 1:48:28 PM  

dr_blasto: This is bullshiat and Powell should be strung up for this bullshiat.


This is what the Fed has been trying to do. Raise interest rates to slow down business investment and therefore job growth. Increasing the unemployment rate decreases demand and causes prices to fall (or not rise as fast). That's how they address price increases, by putting people out of work and scaring everyone else to decrease demand.
 
2022-10-04 2:05:27 PM  
We had a all hands meeting/ townhall at our org. We have 5000+ employees.   We are pulling job listings as no one is applying for them.   I cant think we are the ones doing it.   They are now, finally, putting a lot of attention on retaining existing staff.
 
2022-10-04 2:08:32 PM  
ZORG RUSH!
 
2022-10-04 2:36:05 PM  
Did they ask about the little red button?
 
2022-10-04 2:50:07 PM  

Arkanaut: Did they ask about the little red button?


No. That's how you know the Fed is not made up of real killers.
 
2022-10-04 3:41:14 PM  
Because they were filled?
 
2022-10-04 3:45:47 PM  
I was laughed at over the summer when I suggested that the labour market was cooling off drastically and the cumulative effect of all of these layoffs was going to reflect in the numbers sooner rather than later.
 
2022-10-04 3:46:23 PM  

Stephen_Falken: Fark is only a performance medium by which I can blow off steam instead of letting all my so-called friends and family know what a total jerk I really am.


WTF? How did my inner monologue create its own Fark account?
 
2022-10-04 4:07:36 PM  

chasd00: dr_blasto: This is bullshiat and Powell should be strung up for this bullshiat.

This is what the Fed has been trying to do. Raise interest rates to slow down business investment and therefore job growth. Increasing the unemployment rate decreases demand and causes prices to fall (or not rise as fast). That's how they address price increases, by putting people out of work and scaring everyone else to decrease demand.


You don't even have to increase unemployment.  You just have to decrease labor demand to the point that people aren't bidding up the going rate of labor higher.  There's a sweet spot in there with low unemployment and not record unfilled jobs.
 
2022-10-04 4:23:05 PM  
Whoop there is it!
 
2022-10-04 6:28:33 PM  
Goody. Now let's see CEO pay plummet by 300% as a start.

Oh you only care about beating down working people. F**k you.

Yes there will be inflation. You're undoing nearly 50 years artificially enforced wage stagnation... there is going to be inflation.
 
2022-10-04 6:36:27 PM  

tobcc: We had a all hands meeting/ townhall at our org. We have 5000+ employees.   We are pulling job listings as no one is applying for them.   I cant think we are the ones doing it.   They are now, finally, putting a lot of attention on retaining existing staff.


People are applying for those jobs. They're just not entertaining the applications.
 
2022-10-04 6:53:02 PM  

Madcaplaff: tobcc: We had a all hands meeting/ townhall at our org. We have 5000+ employees.   We are pulling job listings as no one is applying for them.   I cant think we are the ones doing it.   They are now, finally, putting a lot of attention on retaining existing staff.

People are applying for those jobs. They're just not entertaining the applications.


Maybe... Several of my clients pulled them for lack of realistic response. They aren't hiring a high school kid to be a technical analyst without some school.

HR really... Really... REALLY doesn't like the look of a job posting being up for months. They've even handed some off to third parties (e.g. Robert Half) to post.
 
2022-10-04 7:35:52 PM  

Shaggy_C: Stephen_Falken: Fark is only a performance medium by which I can blow off steam instead of letting all my so-called friends and family know what a total jerk I really am.

WTF? How did my inner monologue create its own Fark account?


You assholed so hard, you ripped a tear in the space time continuum and it became sentient.
 
kab
2022-10-04 7:46:17 PM  
Powell seen furiously masturbating in the corner.
 
2022-10-05 5:50:37 AM  
which is trying to reverse runaway inflation that has been pushed by the tight labor market.

CNBC parroting bullshiat as fact without disclaiming it as sourced.

"Liberal media" my ass.
 
2022-10-05 8:39:15 AM  

cocozilla: [Link][image.cnbcfm.com image 200x150]Job openings plunged by more than 1.1 million in August

[Link][image.cnbcfm.com image 200x150]Stocks roar back from 2022 low, S&P 500 on track for best 2-day gain in 2 years


fark WALL STREET AND THE FED


Hey I made $60 grand yesterday.
 
2022-10-05 6:36:35 PM  

bigdog1960: cocozilla: [Link][image.cnbcfm.com image 200x150]Job openings plunged by more than 1.1 million in August

[Link][image.cnbcfm.com image 200x150]Stocks roar back from 2022 low, S&P 500 on track for best 2-day gain in 2 years


fark WALL STREET AND THE FED

Hey I made $60 grand yesterday.


Yeah, well, if you are like me you are probably back to where you were last month.
 
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