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Thread: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by DA60 View Post
    The unemployment rate did not go down - it's still at 14.7%.

    The U-3 is a joke used by economic simpletons and/or people with political/financial agendas (no offense).

    To ignore discouraged workers and to ignore the fact that many part time workers only do so because they cannot find full time employment is ridiculous.

    Only the U-6 is the relatively true measure of unemployment in America.
    I hate to break this to you, Podna, but like the U3 rate, U6 is below where it was during Obama's first full month in office (15.1%).
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by JohnWOlin View Post
    Regardless of how the percentage is, jobs are being added either way. The car industry is doing better than it has since 2008 and manufacturing as a whole is on the rise.
    Our GDP has gotten smaller each of the last three years, now at 1.3% annualized. That's with our government spending $1.2 T yearly that it does not have, a number closer to 8% of GDP. Can you tell what is wrong with that picture ?

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by AdamT View Post
    I hate to break this to you, Podna, but like the U3 rate, U6 is below where it was during Obama's first full month in office (15.1%).


    there's not much happiness, here.



    Look, no one blames Obama for the crash. We blame him for stymieing the recovery.



    Because his foolish plans were built around false assumptions, we ended up being worse off than if he had done nothing


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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Eighty Deuce View Post
    LOL .... yeah, we are just recovering all over. Hey, since you are the expert, can you tell us which summer was the Recovery one ? Thanks.
    The 30 consecutive months of job growth and an UE rate from 10% to 7.8% speak for themselves. Thanks for playing


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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Sgt Meowenstein View Post
    The 30 consecutive months of job growth and an UE rate from 10% to 7.8% speak for themselves. Thanks for playing
    Yeah, things are just peachy all over ! With the same LFPR that he had when he took office, U-3 would be 11.2 %. That top graph the cpwill just posted will help.

    But you be sure to vote Obama. Vote for more of whatever it is you are getting.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Eighty Deuce View Post
    Yeah, things are just peachy all over ! With the same LFPR that he had when he took office, U-3 would be 11.2 %. That top graph the cpwill just posted will help.

    But you be sure to vote Obama. Vote for more of whatever it is you are getting.
    I will. I'll vote for more consecutive months of jobs growth, more lowering UE rates, and I'll be more than happy to vote for the man who got health care reform, financial reform, education reform, student loan reform, fair pay for women; the man who ended DADT, ended Bush's deficit-growing war in Iraq, is ending Bush's other unpaid war in Afghanistan; the man who got Bin Laden (another thing Bush failed to do); the man who sees an America where the rich pay their fair share; the man who cares for 100% of the country, including the 47% that Mitt looks down his nose at.

    And you can vote for the man who changes his positions more than you change your underwear and who plans on giving himself and the rest of the top percent massive tax breaks while cutting/eliminating needed programs for the poor while asking the middle class to pay more.


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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Sgt Meowenstein View Post
    The 30 consecutive months of job growth and an UE rate from 10% to 7.8% speak for themselves. Thanks for playing
    Given that growth is sputtering at barely above 1%, whereas the post-war average for growth in a recovery is about 5 hundred times that amount, yes, it does indeed speak for itself.




    Obama has done a worse job than every other president in the post-war era:





    and so on and so forth ad nauseum. there is good reason for why people still think we are in a recession.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by cpwill View Post
    I always thought this chart was far more revealing than anyone's said.

    It was "justification" for spending a trillion dollars of pure deficit for a ~1% difference in the peak of unemployment in the BEST CASE scenario, and the difference would be a wash by 2012 without the stimulus. This is what they predicted.

    I always thought it tipped their hand. They figured the economy was going to follow the recovery path it usually does no matter what they did, so they might as well not, as Rahm put it, let the crisis go to waste and get a whole bunch of the liberal wish list through, while the economy recovers on its own and they could take credit for it.

    Just about everything the administration has done is consistent with that thinking (recall Obama's confidence in Feb '09 that he'd have it "done" in three years), as is their continual surprise that it hasn't happened the way they thought it would.

    So gosh, could it be that their zeal to overregulate had the opposite effect? Hmmm.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Harshaw View Post
    I always thought this chart was far more revealing than anyone's said.

    It was "justification" for spending a trillion dollars of pure deficit for a ~1% difference in the peak of unemployment in the BEST CASE scenario, and the difference would be a wash by 2012 without the stimulus. This is what they predicted.

    I always thought it tipped their hand. They figured the economy was going to follow the recovery path it usually does no matter what they did, so they might as well not, as Rahm put it, let the crisis go to waste and get a whole bunch of the liberal wish list through, while the economy recovers on its own and they could take credit for it.

    Just about everything the administration has done is consistent with that thinking (recall Obama's confidence in Feb '09 that he'd have it "done" in three years), as is their continual surprise that it hasn't happened the way they thought it would.
    I think you are right - and I think that's why they pivoted so fast to healthcare. Obama figured he had "checked the economy box" and could now move on to other things while it naturally righted itself. Forgetting, apparently, that taking mass amounts of resources and moving them from more productive allocations to less productive allocations reduces net productivity. woops.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Sgt Meowenstein View Post
    I will. I'll vote for more consecutive months of jobs growth, more lowering UE rates, and I'll be more than happy to vote for the man who got health care reform, financial reform, education reform, student loan reform, fair pay for women; the man who ended DADT, ended Bush's deficit-growing war in Iraq, is ending Bush's other unpaid war in Afghanistan; the man who got Bin Laden (another thing Bush failed to do); the man who sees an America where the rich pay their fair share; the man who cares for 100% of the country, including the 47% that Mitt looks down his nose at.

    And you can vote for the man who changes his positions more than you change your underwear and who plans on giving himself and the rest of the top percent massive tax breaks while cutting/eliminating needed programs for the poor while asking the middle class to pay more.
    OK. Everything is coming up roses then ..........

    U-3 with the same labor force Obama inherited is 11.2.

    U-6, which includes those who are no longer looking, or who only have part-time jobs, but want full time jobs, remained unchanged at a whopping 14.7% unemployed.

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