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U.S. Jobless Rate Unexpectedly Declines to 8.6%

j-mac said:
Wow! You mean a whole 15K? Well my god! Call the family, get the celebration on, the depression is OVER! This is such BS.

The numbers are fake.





What the?!!! What the hell are you feeding us now? 315 thousand people long term unemployed become discouraged from finding work at all, and they are not unemployed? Well, what are they doing then? Did they find work?

j-mac
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Kind of funny. When Democrats are in office, good numbers are fake to Republicans. When Republicans are in office, good numbers are fake to Democrats. Damn, I love this country. LOL.
 
j-mac said:
So Bush is responsible for Obama fudging the numbers today?? Good God man, get over it, Bush is not in office.

j-mac
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At this rate the next president will also inherit Bush's failures. :lamo
 
j-mac said:
So Bush is responsible for Obama fudging the numbers today?? Good God man, get over it, Bush is not in office.

j-mac
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Bush On Jobs: The Worst Track Record On Record - Real Time Economics - WSJ

PresidentJobs createdJobs at end of termJobs at start of termPayroll expansionJobs created per year in officePopulation growthPercent change in population
George W. Bush3.0 million135.5 million132.5 million2.3%375,00022.0 million7.7%
Bill Clinton23.1 million132.5 million109.4 million21.1%2,900,00025.2 million8.9%
George H.W. Bush2.5 million109.4 million106.9 million2.3%625,00012.5 million4.8%
Ronald Reagan16.0 million106.9 million90.9 million17.6%2,000,00017.3 million7%
Jimmy Carter10.5 million90.9 million80.4 million13.1%2,600,0009.8 million4.3%
Gerald Ford1.8 million80.4 million78.6 million2.3%745,0005.1 million2.3%
Richard Nixon9.4 million78.6 million69.2 million13.6%1,700,00012.3 million5.7%
Lyndon Johnson11.9 million69.2 million57.3 million20.8%2,300,00011.3 million5.6%
John F. Kennedy3.6 million57.3 million53.7 million6.7%1,200,0008.2 million4.3%
Dwight Eisenhower3.5 million53.7 million50.2 million7%438,00023.3 million12.8%
 
Goldenboy219 said:
Look. Periods of financial deleveraging for consumers, as well as lenders, have the ability to create a short term structural imbalance in labor markets by way of ensuring skill mismatches. To further complicate the matter, people who have mortgage liabilities are far less capable of moving to areas that offer better employment opportunities (negative factor mobility). Of course a full recovery would require a reduced structural imbalance, but nobody is arguing (at least i am not) that the labor market has completely recovered.

This is good news. Those that i have responded to in this thread were talking out of their partisan asses.
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I agree with pretty much everything you said.

Instead of attacking a strawman (show me where i claimed the depression is over), why not put your time into doing some research on a topic you feel strongly enough to argue about. Last month, the civilian non-institutional population increased by 128,000 while the number of people employed increased by only 100,000. Can you tell me how many times since July 2007 where employment gains have been greater than or equal to CNIP increases, on a per month basis?
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Zerohedge puts it into perspective:

"Here are the four most important data points and charts from today's job report: the civilian labor force declined from 154,198 to 153,883, a 315K decline despite the civilian non-institutional population increased (as expected) from 240,269 to 240,441: always the easiest way to push down the unemployment rate. Percentage wise this was a drop from 64.2% to 64.0%: the lowest since back in 1983. Naturally, this would mean that the people not part of the labor force rose, and indeed they did by 487,000 to a record 86,558 from 86,071. This also means that more people are looking for a job: and indeed, the number of "Persons who want a job now" rose by 192K to a record 6.595 million. And lastly, confirming the behind the scenes disaster of the US jobless picture, the average duration of unemployment rose to a new record 40.9 weeks from 39.4 weeks previously. And that is your "improving" jobless picture in a nutshell."

I'll emphasize again that I agree this is good news. Certain people want to paint it to be worse than it is and others want to paint it better than it is. That's partisanship at it's finest.
 
Dittohead not! said:
I wonder what we'd come up with by dividing the number of adults who have full time jobs that pay a living wage by the number who are neither retired nor staying home to raise children while the spouse is the breadwinner?

I'd be willing to bet it wouldn't be over 75% or so.
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"Living Wage"? You mean like the OWS demand of Living wage? And why look for yet another way to give BS numbers to make the current criminal in the WH look better?

Anyone who actually thinks that this country is better off today than when Obama came into office I would suggest is seriously delusional.

j-mac
 
Aunt Spiker said:
That's because people have fallen off of unemployment and aren't looking for work - so they are no longer counted.

It's an illusion - it does not mean that all those people actually *found* employment.
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That's right, 315,000 have given up looking, so they are no longer counted. This is not bad news for anybody but Obama.
 
j-mac said:
So Bush is responsible for Obama fudging the numbers today?? Good God man, get over it, Bush is not in office.

j-mac
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I'm not blaming Bush at all. Just noticing that the same people who thought he was wonderful are horrified when Obama's actions are similar.
 
Using the BLS U3 unemployment methodology, if everyone lost their jobs and quit looking, the unemployment rate would be ZERO........idiotic.
 
Rhapsody1447 said:
I'll emphasize again that I agree this is good news. Certain people want to paint it to be worse than it is and others want to paint it better than it is. That's partisanship at it's finest.
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To be fair, nobody is claiming that we are in full recovery mode while others are stating that the numbers are fake, Obama is a liar, and leave Bush alone.
 
conservativeguy said:
Using the BLS U3 unemployment methodology, if everyone lost their jobs and quit looking, the unemployment rate would be ZERO........idiotic.
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In translation: you have nothing important to add to the discussion.
 
Goldenboy219 said:
To be fair, nobody is claiming that we are in full recovery mode while others are stating that the numbers are fake, Obama is a liar, and leave Bush alone.
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Funny, but just a few posts up you were lambasting someone for a strawman argument.

Guess you like them after all, at least when you make them.
 
American said:
At this rate the next president will also inherit Bush's failures. :lamo
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Meanwhile, literally every thing that happens is Obama's fault according to your conservative buddies. Some random shop owner says "NO GUNS ALLOWED" in his store and OBAMAS TAKIN ARE GUUNNS
 
ReverendHellh0und said:
So these numbers are legit? Good. I hope it continues in January. ;)
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It's not really a matter of legitimacy, more of "do these numbers apply". Using non-seasonally adjusted data shows that 120k retail jobs were created while a total of 339k net jobs were created last month.

I find it absolutely shameful that people would argue that this administration is attempting to misuse data when 339k jobs were ACTUALLY created last month, but the White House made clear use of the seasonally adjusted data ;).
 
Gill said:
Funny, but just a few posts up you were lambasting someone for a strawman argument.

Guess you like them after all, at least when you make them.
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It is an honest observation, not a straw man.

http://www.debatepolitics.com/break...pectedly-declines-8-6-a-3.html#post1059995614

http://www.debatepolitics.com/break...pectedly-declines-8-6-a-4.html#post1059995658

http://www.debatepolitics.com/break...pectedly-declines-8-6-a-5.html#post1059995742

http://www.debatepolitics.com/break...pectedly-declines-8-6-a-5.html#post1059995709

And you cannot even consider Rocket's post as partisan.
 
I know this is going to sound counter-intuative, but until we see Unemployment Rate increases, things are getting worse.

As pointed out earlier, 315,000 people left the job market in November. We gained 120,000 jobs, but 125,000 new people enter the job force every month due to population increases.

Until we are gaining 300,000 jobs a month, and the unemployement rate starts jumping, the job picture is bleak at best.
 
Samhain said:
Until we are gaining 300,000 jobs a month, and the unemployement rate starts jumping, the job picture is bleak at best.
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Actually, we gained 339,000 jobs last month but 219,000 of them were due to the holiday/winter season ;)
 
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wow.

...President Barack Obama said the drop in the jobless rate is a sign the recovery is getting stronger, and extending a cut in the payroll tax will provide more fuel for the economy...

Employment at service-providers increased 126,000 in November, including a 50,000 gain in retail trade as companies began hiring for the holiday shopping season. The number of temporary workers increased 22,300.


Macy’s Inc. (M), the second-biggest U.S. department-store chain, increased mostly part-time staff by 4 percent for the November-December shopping season. See’s Candies Inc., a chocolate maker owned by Berkshire Hathaway Inc., said it would add 5,500 mostly temporary workers.


Revisions to prior reports added a total of 72,000 jobs to payrolls in September and October...

The unemployment rate, derived from a separate survey of households, was forecast to hold at 9 percent. The decrease in the jobless rate reflected a 278,000 gain in employment at the same time 315,000 Americans left the labor force....
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so, half of these jobs are temporary, and they are offset by people leaving the labor force. Still, that leaves us with a net gain of jobs. We'll see if the headlines in January/February are "seasonally revised" to account for all these temp jobs going away.
 
cpwill said:
so, half of these jobs are temporary, and they are offset by people leaving the labor force. Still, that leaves us with a net gain of jobs. We'll see if the headlines in January/February are "seasonally revised" to account for all these temp jobs going away.
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I hope so. It does appear that for now we have avoided a double-tip recession - which is excellent. I think that could be a major deciding factor for Obama. Does the economy slip back into a recession, or does he avoid the double dip? If he continues to avoid the double dip, he'll definitely gain some independent votes, I would think.

*Edit: Though a quick examination would show that this thread was already posted (it's like 7 down from the top).
 
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Gill said:
Be careful...........you are going to get dizzy with all the spinning you're doing.
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It's clear your intention is to discuss anything other than the topic:lol:
 
Goldenboy219 said:
It's clear your intention is to discuss anything other than the topic:lol:
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The meaning of the topic is clear...... 315,000 fewer people are now looking for jobs, which resulted in the drop in the unemployment rate. There are now 487,000 fewer people in the workforce than there was in October.

Of the private sector jobs, 50,000 of them were retail, obviously temporary holiday work. Manufacturing gained only 2,000 new jobs, while construction lost 12,000.

If it makes you feel good to gloat about these pathetic numbers, feel free.
 
Gill said:
Of the private sector jobs, 50,000 of them were retail, obviously temporary holiday work.
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What is the point of seasonal adjustment?
 
:3oops:Edit: The monthly gain for civilian non-institional population was 172,000, not 128,000 as stated in this post.

Because of this error, disregard (or poke fun of!) the argument in that post. My apologies.:3oops:
 
Goldenboy219 said:
What is the point of seasonal adjustment?
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The seasonal adjustment takes the peak and valley from the holiday out of the equasion, so you can compare apples to apples, not apples to Christmas trees.
 
Samhain said:
The seasonal adjustment takes the peak and valley from the holiday out of the equasion, so you can compare apples to apples, not apples to Christmas trees.
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Hey. How do you pronounce your username?
 
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