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Thread: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%[W: 831]

  1. #1231
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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Sheik Yerbuti View Post
    You're forgetting that it's the public sector which is sucking. The private sector is hiring like mad, adding 6 million jobs over the last 37 consecutive months. So if people aren't working at this point, it's because by and large, they either choose not to or they were working in the public sector.
    The Public Sector has an unemployment rate under 4%

    The Public Sector costs the private sector resources. There is no net gain. That means Opportunity Costs and Negative Externalities. There is no wealth created.

    The Private Sector only added 88K jobs last month. It's not hiring like mad.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post
    If you check my post right above yours - you will see that even the pathetic Fed admits that at least half have left the work force due to 'cyclical downturn in the labor market' (i.e. the economy stinks).

    That still leaves the U-3 rate at over 9% (last time I checked).

    And that does not take into account all the boomers that have prematurely retired because they cannot find work.

    No matter how you slice it - even according to the Fed - unemployment is FAR worse then when Obama took over (not that GWB was doing much good either).


    Have a nice day.
    It claims about half are attributable to baby boomers retiring. There are many reasons they retire. Probably, during the recession and the months that followed, many did retire because they couldn't find work as the private sector was hemorrhaging jobs. That is no longer the case. The private sector is now chugging along just fine. Nowadays, I would guess that most with 401Ks retire because their 401Ks are back to new highs. Plus every day, there's an additional 10,000 baby boomers turning the age of retirement. That's a lot of ****ing baby boomers.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Sheik Yerbuti View Post
    You're forgetting that it's the public sector which is sucking. The private sector is hiring like mad, adding 6 million jobs over the last 37 consecutive months. So if people aren't working at this point, it's because by and large, they either choose not to or they were working in the public sector.
    And your link to unbiased stats/data that backs up your claim (not that I am saying it is not so) is what?

    And of those 6.5 million hiring's - how many still have those jobs?


    And even if your numbers are true - changes nothing.

    The unemployment rate if you take into account those that the Fed estimates have dropped out of the work force because the economy is so bad is still (last time I checked) well over 9%.

    Way worse then when Obama took over.
    Last edited by DA60; 04-15-13 at 02:17 AM.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Sheik Yerbuti View Post
    It claims about half are attributable to baby boomers retiring. There are many reasons they retire. Probably, during the recession and the months that followed, many did retire because they couldn't find work as the private sector was hemorrhaging jobs. That is no longer the case. The private sector is now chugging along just fine. Nowadays, I would guess that most with 401Ks retire because their 401Ks are back to new highs. Plus every day, there's an additional 10,000 baby boomers turning the age of retirement. That's a lot of ****ing baby boomers.
    Sorry pal - spin it anyway you want.

    Even according to the Fed at LEAST half of the participation rate decline is due to the crappy economy.

    And there is no way to know what percentage of the retirees did so only because they could not find work...undoubtedly many.

    That leaves the unemployment rate well above 9% - even using the Fed's numbers - FAR worse then when Obama took over.
    Last edited by DA60; 04-15-13 at 02:11 AM.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post
    And your link to unbiased stats/data that backs up your claim (not that I am saying it is not so) is what?

    And of those 6.5 million hiring's - how many still have those jobs?
    A large majority of these jobs are PART TIME jobs which also means one person is occupying multiple jobs in most cases.

    Obama's record on job creation is beyond pathetic

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Bronson View Post

    The Public Sector has an unemployment rate under 4%
    Again ... the public sector has lost 700,000 jobs since Bush's Great Recession ended. Had we gained that many, the U3 unemployment rate would be around 6.6%.

    Quote Originally Posted by Bronson View Post

    The Private Sector only added 88K jobs last month. It's not hiring like mad.
    37 consecutive months adding 6 million jobs speak far louder to the hiring in the private sector than 1 month of data could possibly reveal.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Kushinator View Post
    The U-3 is over 9% (last time I checked) if you include 1/2 of the those that left the work force because the economy stinks and include them with the unemployed (as the Fed says).
    Last edited by DA60; 04-15-13 at 02:18 AM.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post
    And your link to unbiased stats/data that backs up your claim (not that I am saying it is not so) is what?

    And of those 6.5 million hiring's - how many still have those jobs?
    It's my opinion. Since there are no data which tracks why baby boomers retire, all any of us can offer up on the matter is opinion.

    And to me, it makes sense that when the stock market bottomed out and baby boomers reaching retirement age lost huge chunks of their 401Ks and other market related investments, and the country was hemorrhaging jobs, few boomers would have been seeking retirement. Many of those who did, probably were forced to; but fast forward a few years, the stock market has more than recovered, their 401Ks are at new highs. Other market investments are at or near new highs. The private sector is hiring again -- to me it seems like an optimal time for retirement for those who've been putting it off until things got better.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by Sheik Yerbuti View Post
    Again ... the public sector has lost 700,000 jobs since Bush's Great Recession ended. Had we gained that many, the U3 unemployment rate would be around 6.6%.


    37 consecutive months adding 6 million jobs speak far louder to the hiring in the private sector than 1 month of data could possibly reveal.
    Democrats were more responsible for the Financial Crisis than Bush. Bush shoulders some blame, but it was Democrats who repeatedly said there wasn't a crisis, attacked regulators who scrutinized The GSE's books as racist, and killed any reform that was proposed in the Senate. Not one Democrat supported and voted for GSE reform.

    Obama's "Recovery" is one of the worst on record. It's pathetic.

    Reagan's recovery saw GDP Growth as high as 9% with a million jobs created in one month. You're waving the pom poms when the country creates 88K in one month. It's laughable. You've just been conditioned as a Democrat to accept sub par Economic Growth apparently. Psychologically you've been conditioned to have low expectations.

    What the country is going through right now is not an economic recovery. Not even close. Obama's Economic Policies are a joke.

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    Re: U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%

    Quote Originally Posted by DA60 View Post

    And even if your numbers are true - changes nothing.

    The unemployment rate if you take into account those that the Fed estimates have dropped out of the work force because the economy is so bad is still (last time I checked) well over 9%.

    Way worse then when Obama took over.
    One thing that intrigues me is this new found love righties have for the notion that the unemployment rate should be based upon the LFPR when Obama started.

    You know, and I'm not generalizing here -- I never once heard that from anyone, on the left or especially the right, mention that when Bush was president. And that certainly could have been raised since the LFPR dropped 2.3% and using the same logic, could have said the unemployment rate was actually 10% when Obama became president.

    It just seems to me that the right is hunting for negativity; especially as conditions improve.

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