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Thread: May employment report: Economy adds 175K jobs

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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by Anthony60 View Post
    Always an excuse for this failure of a president.
    What does it say about a person when they consider simple facts to be excuses?

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    Re: May employment report: Economy adds 175K jobs

    Jobs reports are BS. They used to be more honest, but after "tweaks" to the formula by both Reagan and Clinton, who wanted better numbers, they both got better numbers. LOL.
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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by danarhea View Post
    Jobs reports are BS. They used to be more honest, but after "tweaks" to the formula by both Reagan and Clinton, who wanted better numbers, they both got better numbers. LOL.
    Oh, what, exactly, are the tweaks you''re claiming?
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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by pinqy View Post
    And nobody has ever shown any evidence of any manipulation of the economic data. people like to talk out of their ads like there is, but somehow c a n't show any evidence, let alone proof. And since 99% of the complaints I've heard show gross ignorance of how the data is calculated, the laughingstock among economists are the rabid BLS detractors.
    The total work force is down, that's been shown in various posts in the past. So when you have less people actually in the jobs workforce, your unemployment goes down. This whole unemployment debate has become a joke.
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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by American View Post
    The total work force is down,
    Down from when? From the start of the Recession? Yes. From when Obama took office? No. It's been increasing (up and down but generally up) since January 2011.

    So when you have less people actually in the jobs workforce, your unemployment goes down.
    Not necessarily.Let's say the Labor Force is 1,000,000 with 950,000 Employed and 50,000 Unemployed. UE rate is 5%.
    Next month, The Labor Force drops to 999,500 though Employed doesn't change, but 500 people stop looking for work. UE rate is now 49,500/999,500 = 5.2%

    But in any case, that's not manipulation. The UE rate is meant to measure the percent of people who could be working who aren't. People not trying to work could not be working because they can't be hired.
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by pinqy View Post
    Down from when? From the start of the Recession? Yes. From when Obama took office? No. It's been increasing (up and down but generally up) since January 2011.


    Not necessarily.Let's say the Labor Force is 1,000,000 with 950,000 Employed and 50,000 Unemployed. UE rate is 5%.
    Next month, The Labor Force drops to 999,500 though Employed doesn't change, but 500 people stop looking for work. UE rate is now 49,500/999,500 = 5.2%

    But in any case, that's not manipulation. The UE rate is meant to measure the percent of people who could be working who aren't. People not trying to work could not be working because they can't be hired.
    U.S. Labor Force Participation Rate Lowest Since 1979

    No manipulation? Well I think there is a lot of gamesmanship with unemployment numbers nowadays. Just wait till Obamacare really kicks in next year. The other thing is what kind of jobs are unemployed people getting. So you were a high paid professional who lost his job, then you can't find the same job so you take a lower paying one. That's a short term improvement from not working to working, but for less. I don't call that prosperity. And that's where I have issues with the politics I see on TV. 175,000 new jobs, but what kind? And for whom? Hamburger flipping for engineers? I mean what are we talking about here? Lowering an unemployment rate is only one number that does not automatically translate into prosperity.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by a351 View Post
    May employment report: Economy adds 175K jobs - CBS News



    A modest figure, but one that exceeded expectations by a slight amount. Also important to note is the loss of 14,000 positions at the federal level, reflecting budget cuts, and a sizable decline in manufacturing employment (8k). The full and official report can be found here:

    Employment Situation Summary
    Does this count the people who dropped off the unemployment list either because their benefits expired or they gave up?
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    Re: May employment report: Economy adds 175K jobs

    Well, the Participation Rate went up in May. But besides that, you're moving the goalposts. You said "The total work force is down,
    " which is untrue. The PERCENT of the population in the labor force is down, because while the labor force has increased, it has not increased as much as the population.

    No manipulation? Well I think there is a lot of gamesmanship with unemployment numbers nowadays.
    Sure...in the spin people put on them. But not in the actual calculations. The numbers are the numbers...what someone says they mean is a different story.

    The other thing is what kind of jobs are unemployed people getting. So you were a high paid professional who lost his job, then you can't find the same job so you take a lower paying one. That's a short term improvement from not working to working, but for less. I don't call that prosperity. And that's where I have issues with the politics I see on TV. 175,000 new jobs, but what kind? And for whom? Hamburger flipping for engineers? I mean what are we talking about here? Lowering an unemployment rate is only one number that does not automatically translate into prosperity.
    But it's not meant to measure prosperity, or quality.
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by davidtaylorjr View Post
    Does this count the people who dropped off the unemployment list either because their benefits expired or they gave up?
    There is no unemployment list used in the BLS Labor Force Statistics. There is a household survey. No questions about benefits are asked and it doesn't make any difference if a person was ever eligible for benefits.

    As for giving up. The UE rate is a measure of what percent of people who could be working are not. If a person is not trying to get a job, they could not be working because last I checked, employers don't hire people who haven't applied or in any way talked to them.
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by Slyfox696 View Post
    What does it say about a person when they consider simple facts to be excuses?
    What does it say about a person that uses simple facts to mislead people? I know, it means you're a liberal drone.

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