Ep. 421: The Jobs Report Is Here & I Was Wrong (Again!)

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This week on the Pete the Planner Show, Pete and Damian change it up with YouTube and Facebook Live with the killer ‘wide shot!’ 

No time to listen?  Here’s a preview of what happened and when:

Show Notes:

THE JOBS REPORT IS HERE! [5:11]

  • There were 943,000 jobs added in July of 2021. Unemployment has fallen to 5.4%, however, at the start of July, there were still 7 million fewer jobs. Is it possible for us to get back to full employment, pre-COVID-19?

    • DAMIAN: Just because we hear 5.5% unemployment, it does not necessarily mean that we are only that close to everything being alright. We’re looking at 7 million fewer jobs in the mix.
    • PETE: It is estimated that 3.5 million of those 7 million are people who retired early during the pandemic.

 

PETE WAS WRONG (AGAIN)!:  [19:34]

  • PETE: One of the major additions of jobs was government jobs. I appreciate when people respectfully tell me I am wrong. Callie did:
  • “Hey Pete, I have an answer to which kind of government jobs were added; spoiler alert: they weren’t IRS jobs as you asserted. Also, the government is more than just the IRS. I believe our government jobs count would include state and federal jobs; VA jobs, public education jobs, military, state and federal fire fighters, law enforcement, etc. Not just IRS pencil-pushers.”

    • DAMIAN: I think we mentioned there were going to be a spate of IRS jobs because of an announcement from President Biden. But the government does have a bunch of other types of jobs, true.
    • PETE: The biggest change was in Hospitality: 380,000 added
    • 240,000 jobs in Government
    • 60,000 jobs in Professional/Business Services
    • Retail & Retail Trade lost 5,500 jobs
    • DAMIAN: I’d encourage him to start setting goals for what he wants to do with it. Some use. Some defined purpose.

Oh, but you have GOT to stick around for segment number THREE!  Check it out in the full show!  — click PLAY below.

 

SIDE NOTE:

— Before you go, give your personal finances a facelift. Peep our personal guidance platform: Hey Money.

 

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