President Biden’s public schedule for 09/01/2023:
| 10:00 AM Presidential Daily Briefing | The President receives the Presidential Daily Briefing Closed Press |
| 11:15 AM Remarks | The President delivers remarks on the August jobs report Rose Garden Open Press |
It’s Jobs Report Friday…
Bls.gov said:
Total nonfarm payroll employment increased by 187,000 in August, and the unemployment rate rose to 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in health care, leisure and hospitality, social assistance, and construction. Employment in transportation and warehousing declined.
[snip]
The unemployment rate rose by 0.3 percentage point to 3.8 percent in August, and the number of unemployed persons increased by 514,000 to 6.4 million. Both measures are little different from a year earlier, when the unemployment rate was 3.7 percent and the number of unemployed persons was 6.0 million. (See table A-1.) Among the major worker groups, the unemployment rates for adult men (3.7 percent), Whites (3.4 percent), and Asians (3.1 percent) rose in August. The jobless rates for adult women (3.2 percent), teenagers (12.2 percent), Blacks (5.3 percent), and Hispanics (4.9 percent) showed little change over the month. (See tables A-1, A-2, and A-3.)
[snip]
In August, health care added 71,000 jobs, following a gain of similar magnitude in the prior month. Over the month, job growth continued in ambulatory health care services (+40,000), nursing and residential care facilities (+17,000), and hospitals (+15,000). Employment in leisure and hospitality continued to trend up in August (+40,000). The industry had gained an average of 61,000 jobs per month over the prior 12 months. Employment in the industry remains below its pre-pandemic February 2020 level by 290,000, or 1.7 percent. Employment in social assistance increased by 26,000 in August, in line with the prior 12-month average gain (+22,000). Over the month, job growth continued in individual and family services (+21,000). Construction employment continued to trend up in August (+22,000), in line with the average monthly gain over the prior 12 months (+17,000). Within the industry, employment continued to trend up over the month in specialty trade contractors (+11,000) and in heavy and civil engineering construction (+7,000).
[snip]
The change in total nonfarm payroll employment for June was revised down by 80,000, from +185,000 to +105,000, and the change for July was revised down by 30,000, from +187,000 to +157,000. With these revisions, employment in June and July combined is 110,000 lower than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)
BLS.gov. 09/01/2023.
Our favorite Ben Casselman tweeted:
President Biden Delivers Remarks on the August Jobs Report @11:15 a.m. D.C., time: It’s been delayed…
The Tweets
From Thursday…
The video clip is 1 minute and 21 seconds long.
President Biden:
I just came from the Oval Office, where I met with the FEMA Administrator, who is standing to my left here, and our federal response folks.
[snip]
Earlier today, I made a point to speak to all the governors most likely to be impacted by this storm. I spoke with Governor DeSantis several times, Governor Kemp, Governor McMaster, and Governor Cooper about the impacts of the storm and — that made landfall at 7:45 this morning as a Category 3 hurricane.
[snip]
I let each governor I spoke with know that if there’s anything — anything the states need right now, I am ready to mobilize that support of what they need.
I don’t think anybody can deny the impact of the climate crisis anymore. Just look around: historic floods — I mean historic floods; more intense droughts; extreme heat; significant wildfires have caused significant damage like we’ve never seen before. It’s not only throughout the Hawaiian Islands and the United States, but in Canada and other parts of the world. We’ve never seen this much fire.
And while we’re dealing with this latest extreme weather event, I remain laser-focused on recovering and rebuilding efforts in Maui.
[snip]
In a few moments, I’m going to meet with my entire Cabinet in the next room over who are leading the federal recovery and rebuilding efforts and report on their progress in providing the urgently needed support to the people of Maui.
[snip]
I directed my team to do everything we can for as long as it takes to help Maui recover and rebuild in a way that respects and honors Hawaiian traditions and cultures and the needs of the local community. We’re not going to turn this into a new land grab. We’re not trying to have — see multimillion-dollar homes on the beach.
[snip]
And as an example of our commitment, we’re not only building back, but we’re going to build back a stronger and more resilient future, which means we need to be ready to withstand any challenge coming our way and rebuilding the way that Maui wants to rebuild — the nature of the rebuilding.
White House.gov. 08/31/2023; remarks given on 08/30/2023.
I really can’t find good info on where the average inflation is 2.1 percent.
I did find this…
Which they got from (I think) BEA.gov; Personal Income and Outlays, July 2023: Personal income increased $45.0 billion (0.2 percent at a monthly rate) in July, according to estimates released today by the Bureau of Economic Analysis (table 3 and table 5). Disposable personal income (DPI), personal income less personal current taxes, increased $7.3 billion (less than 0.1 percent) and personal consumption expenditures (PCE) increased $144.6 billion (0.8 percent). The PCE price index increased 0.2 percent. Excluding food and energy, the PCE price index increased 0.2 percent (table 9). Real DPI decreased 0.2 percent in July and real PCE increased 0.6 percent; goods increased 0.9 percent and services increased 0.4 percent (tables 5 and 7).
They also noted Real PCE: The 0.6 percent increase in real PCE in July reflected an increase of 0.9 percent in spending on goods and an increase of 0.4 percent in spending on services (table 7). Within goods, the largest contributors to the increase were “other” nondurable goods (led by games, toys, and hobbies) and recreational goods and vehicles (led by video, audio, photographic and information processing equipment and media). Within services, the largest contributors to the increase were food services and accommodations (led by food services), financial services and insurance (led by portfolio management and investment advice services), and housing and utilities (led by utilities). Detailed information on monthly real PCE spending can be found on Table 2.4.6U.
From Friday…
The video clip is 1 minute and 15 seconds long. It features Steven Hadfield who introduced President Biden at a lowering healthcare costs event held at the White House on 08/29/2023.
Steven Hadfield: My name is Steven Hadfield, I am introducing President Biden. I’m about to meet the President and I’m very excited to meet him in person. [President walk in] I just want to thank you. I have Waldenstrom Macroglobulinemia. And because of the Inflation Reduction Act it’s gonna be a big impact on me and also other senior citizen like me.
President Biden: Well, it’s about time isn’t it?
Steven Hadfield: Yes, sir.
President Biden: And you’re taking other very expensive drug.
Steven Hadfield: Right. I my diabetic drugs too, Januvia and my Lantus.
President Biden: Well, you’re a brave man.
Steven Hadfield: Well, thank you very much.
President Biden: And we’re going to see if we can do that for everybody.
Steven Hadfield: Okay.
President Biden: No, I really meant it.
Steven Hadfield: I believe you.
President Biden: Because they’re making plenty of profit.
Steven Hadfield: Right.
President Biden: It’s not like we’re robbing them of anything.
Steven Hadfield: Right.
President Biden: And guess what else? When we bring down the cost of drugs it turns down the cost to taxpayers too.
Steven Hadfield: That’s right because they’re not footing the bill.
President Biden: That’s right. So happy you’re here.
Steven Hadfield: Appreciate it very much.
President Biden: Well, thank you for making the effort to let people know what we can do.
Steven Hadfield: Yes, Sir.
President Biden: And we’re going to do it. We’re not going to give up. God love you.
Steven Hadfield: Thank you very much.
This is an Open Thread.
