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Thread: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

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    Re: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

    Quote Originally Posted by AdamT View Post
    Here's the BLS data:

    Hah, take a look at the two graphs you posted and tell me if you notice the difference.

    It doesn't make sense to my why they would use Multifactor Productivity in a study against hourly compensation. The generally accepted measure of productivity is Labor Productivity measuring output per hour.

    Can you send me BLS link that shows productivity grew 62.5%?
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

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    Re: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

    Quote Originally Posted by Rhapsody1447 View Post
    Hah, take a look at the two graphs you posted and tell me if you notice the difference.

    It doesn't make sense to my why they would use Multifactor Productivity in a study against hourly compensation. The generally accepted measure of productivity is Labor Productivity measuring output per hour.

    Can you send me BLS link that shows productivity grew 62.5%?
    Yeah, the graphs aren't identical but they both show significant productivity growth over the last 20+ years. Unfortunately BLS doesn't let you link to their data pages, but you can get to it from here: Top Picks (Most Requested Statistics) : U.S. Bureau of Labor Statistics

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    Re: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

    Quote Originally Posted by AdamT View Post
    Yeah, the graphs aren't identical but they both show significant productivity growth over the last 20+ years. Unfortunately BLS doesn't let you link to their data pages, but you can get to it from here: Top Picks (Most Requested Statistics) : U.S. Bureau of Labor Statistics
    Thanks for the link I haven't been to that page. There is no data on BLS to back up the data of that report. The multi-factor productivity index only shows a gain 24.09% (much closer to the compensation growth they posted) while the report claims one of 62.1%. Labor Productivity of output by hour (Productivity - Dictionary Definition of Productivity) would be the preferred definition and I can't find any data that supports that number. In the study I posted the author looks at inflation-adjusted GDP growth rates to show the long term productive growth rate of the country. Excess consumption leads to debt growth outpacing income growth and income growth outpacing productivity growth.
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

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    Re: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

    Quote Originally Posted by AdamT View Post
    In economics, productivity has a specific definition which you seem to be unaware of. I agree that it's a problem being a net import economy, but using terminology incorrectly does not clarify your argument.
    Quote Originally Posted by AdamT View Post
    I don't have any unemployed neighbors, but if I did I would hope that they had at least a highschoolers understanding of economics.
    LOL .... then tell us all why its not a good produced by a productive American for sale on the shelves across the land, but rather an imported product ? We are not competing well enough with our productivity, primarily with our high labor and tax costs.

    Good luck with the HS classes, btw.

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    Re: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

    Probably the best definition of Obama and his supporters that I have seen, they all promote ineptocracy

    Ineptocracy (in-ep-toc-ra-cy) – a system of government where the least capable to lead are elected mostly by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

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    Re: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

    Quote Originally Posted by Eighty Deuce View Post
    LOL .... then tell us all why its not a good produced by a productive American for sale on the shelves across the land, but rather an imported product ? We are not competing well enough with our productivity, primarily with our high labor and tax costs.

    Good luck with the HS classes, btw.
    That's a gross exaggeration of course, but in general the reason for the influx of foreign products is obvious; we aren't a third world country and we can't compete with third world countries on wages. The answer is not to become a third world country in order to compete. The answer is to expand our output of value-added goods and services that less sophisticated countries can't provide.

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    Re: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

    Quote Originally Posted by AdamT View Post
    That's a gross exaggeration of course, but in general the reason for the influx of foreign products is obvious; we aren't a third world country and we can't compete with third world countries on wages. The answer is not to become a third world country in order to compete. The answer is to expand our output of value-added goods and services that less sophisticated countries can't provide.
    And exactly where is the incentive to do that with this Administration that continues to subsidize "green energy" jobs competing against other countries with lower wages and taxes while demonizing individual wealth creation, innovation, creativity, and risk taking?

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    Re: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

    Quote Originally Posted by Conservative View Post
    Probably the best definition of Obama and his supporters that I have seen, they all promote ineptocracy
    Just a new name for conservative government. Look it up in the latest dictionary and there will be a photo of Bush next to the definition.
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    Re: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

    Quote Originally Posted by haymarket View Post
    Just a new name for conservative government. Look it up in the latest dictionary and there will be a photo of Bush next to the definition.
    Get someone to explain the definition to you if you believe that definition defines Conservative government

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    Re: U.S. Payrolls Gain More-Than-Expected 200,000; Jobless Rate Falls to 8.5%

    Quote Originally Posted by Conservative View Post
    Get someone to explain the definition to you if you believe that definition defines Conservative government
    It certainly describes the government of that idiot in your sig pic.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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