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Thread: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

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    Re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by Eighty Deuce View Post
    And something like 368,000 folks dropped out of the labor force.
    10,000 people retire every day. This trend is expected to continue for 20 years or so, until the baby boomers are all retired. That is 300,000 per month.

    Kinda takes the steam out of your 368k number, doesn't it? The labor force is shrinking, because of the baby boomers retiring, and that isn't going to change for a LONG time.

    Daily Number: Baby Boomers Retire - Pew Research Center

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    Re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by avusbluem5 View Post
    10,000 people retire every day. This trend is expected to continue for 20 years or so, until the baby boomers are all retired. That is 300,000 per month.

    Kinda takes the steam out of your 368k number, doesn't it? The labor force is shrinking, because of the baby boomers retiring, and that isn't going to change for a LONG time.

    Daily Number: Baby Boomers Retire - Pew Research Center
    Your link says 10,000 per day reach 65 - not retire.

    A large number of Americans do not retire at 65.

    The average retirement age is now 67 - and rising.

    Americans expect to work longer, retire later - Life Inc.

    Postponing Retirement: Record Number Of Americans Choosing To Stay At Work

    In fact, many Americans cannot afford to retire due to loss of equity in their homes from the housing crash and record low interest rates (which hurts the amount they make off of their savings).


    Actually, the most optimistic liberal think tank that I recall seeing puts the number that retired of that 368,000 figure at just under 50%...and even that does not stipulate how many of those retired because they gave up looking for work.
    Last edited by DA60; 09-11-12 at 03:42 AM.

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    Re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by Dittohead not! View Post
    Nope.

    The payroll tax cuts, and the stimulus tax cuts.
    Unfortunately, the debt caused by all of this means higher taxes. The average tax payer has to now pay an additional 30k in taxes to pay back the 700bn cost of the rest of the stimulus that we had to borrow, the 4 trillion in extra spending, and the deficit caused by the payroll tax cut, as they didnt reduce benefits which the payroll tax pays for directly.

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    Re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by jonny5 View Post
    Unfortunately, the debt caused by all of this means higher taxes. The average tax payer has to now pay an additional 30k in taxes to pay back the 700bn cost of the rest of the stimulus that we had to borrow, the 4 trillion in extra spending, and the deficit caused by the payroll tax cut, as they didnt reduce benefits which the payroll tax pays for directly.
    That is the problem with tax cuts not tied to spending cuts. But, you see, tax cuts are popular, while spending cuts are not.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by Dittohead not! View Post
    That is the problem with tax cuts not tied to spending cuts. But, you see, tax cuts are popular, while spending cuts are not.
    The problem is more of tax cuts being tied to political ideology rather than efficient funding. Taxes should be broad and minimal, to bring in the desired amount of revenue with the least burden to taxpayers.

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    Re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by Eighty Deuce View Post
    And something like 368,000 folks dropped out of the labor force.
    And still up by 250K since the start fo the year. Some pople don't appear to realize that the labor force is like the people on the bus in the grade school song -- they go up and down all over town. Over the last 18 months, the labor force has gone up ten times and has gone down eight times. Guess when right-wing clowns chime in.

    Meanwhile long-term demographics have more and more older Americans retiring and more and more younger Americans spending more and more time in school. Guess what the effects of those trends are.

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    Re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by DA60 View Post
    Additionally, the weekly jobless claims are absolutely pathetic for accuracy as EVERY SINGLE WEEK for at least half a year they have been revised lower. That is ridiculous - clearly whatever model they are using does not work.
    They don't use a model. They count up the actual number of initial claims filed. Revisions typically come from corrections to late or inaccurate reporting by states. The advance number for August 25 for instance was 309,923 where the revised number was 312,111. I don't think that's a decrease. The advance for August 18 was 310,121 while the revised was 311,787. I don't think that's a decrease either. Odd how your reports and the actual facts are so consistently at odds with each other.

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    Re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by Eighty Deuce View Post
    Many will not say that the economy needs about 130K just to absorb population growth...
    Even if there were a reason to believe that the number on non-farm payrolls should move in lockstep with the civilian non-institutionalized population, your math would suck. The population is not growing as fast as you apparently think it is.

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    Re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by Eighty Deuce View Post
    That is the painful truth right there, and it will take us a considerable time to reconfigure to get a manufacturing base back.
    LOL! The VALUE of US manufacturing output has continued to soar. What's declined since the mid-1990's s the number of manufacturing JOBS. That same decline has been experienced in ALL of the world's significant manufacturing economies. China in fact has lost more manufacturing jobs since 1995 than the US presently has. US job losses by contrast have been about average. People need to get used to the fact that -- like agriculture in the late 19th and early 20th centuries -- manufacturing has lost its ability to provide jobs for the masses. Get used to it.

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    Re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by Cardinal Fang View Post
    They don't use a model. They count up the actual number of initial claims filed. Revisions typically come from corrections to late or inaccurate reporting by states. The advance number for August 25 for instance was 309,923 where the revised number was 312,111. I don't think that's a decrease. The advance for August 18 was 310,121 while the revised was 311,787. I don't think that's a decrease either. Odd how your reports and the actual facts are so consistently at odds with each other.
    You are correct - I mistyped.

    I meant that the jobless claims have for the last half year have always been revised higher (meaning the truth ALWAYS turns out to be worse then the initial report).

    Every week, these people make the numbers sound better then they really are...whether deliberately or not.


    And speaking of being wrong - are you going to finally admit that you got it wrong when you typed 'There is nothing about new jobs in the ARRA.'?

    From Recovery.gov - Tracking the Money

    '*THE RECOVERY ACT

    On Feb. 13, 2009, Congress passed the American Recovery and Reinvestment Act of 2009 at the urging of President Obama, who signed it into law four days later. A direct response to the economic crisis, the Recovery Act has three immediate goals:

    Create new jobs and save existing ones'


    http://www.recovery.gov/About/Pages/The_Act.aspx

    http://www.debatepolitics.com/econom...post1060873338



    Have a nice day.
    Last edited by DA60; 09-12-12 at 10:32 PM.

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