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What To Make Of A Wild Jobs Report
Somehow, the US economy added 130,000 jobs in January, a veritable miracle relative both to expectat
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If it is indeed true that the hiring beat is due to domestic workers replacing deported “illegals”, then I expect this will create inflationary effects as domestic workers are far more expensive to employ, no? Yeah your government spending callout, https://fortune.com/2026/02/10/government-borrowing-cbo-report-deicit-lending-interest/. I remember when the party in power needed us to take over so they could cut government spending because “the deficit is out of control!”. No Sh*t Shirlock.
It is my hope that one day voters will remember that every single time the GOP has taken power, since I was born, this exact string of events has continuously played out. Republicans blow up the budget, get voted out of power, the Democrats try to fix it, the GOP screams about spending that they created, and then they get voted in and make it worse.
“The Democrats are the party that says government will make you smarter, taller, richer, and remove the crabgrass on your lawn. The Republicans are the party that says government doesn’t work and then they get elected and prove it.”
–P. J. O’Rourke
??????
A few details. Payroll growth (+130K) was almost all from healthcare (+82K) and social services (+42K), with non-residential construction helping (+33K . . . data centers?). The annual population adjustments normally applied to January household survey data will not be applied until February with BLS planning to revise January The birth-death adjustment was 30K “better” for January than for December. There was a change in the b-d model (sounds minor) applied for the first time in January.
Non-residential construction = Data and detention centers?
That is entirely funny except for the possibility that it may be essentially true.