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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 pinqy View Post
    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.
    You missed the point. The jobs numbers are a mask of reality.
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    Re: May employment report: Economy adds 175K jobs

    More people employed is a good thing. But its just routine now, as job creation hasnt caught up with the labor force yet. 8% unemployment is the new normal. The real problem is congress isnt doing anything about it yet. They havent balanced the budget, lowered taxes, or reduced govt interference in the economy. All of which would help the economy grow faster.

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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by davidtaylorjr View Post
    You missed the point. The jobs numbers are a mask of reality.
    No, they're not. They're the reality of what they're supposed to measure. Complaining that they don't measure something they're not supposed to measure and/or don't show what they're not designed to or can't show is not "reality."
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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by pinqy View Post
    No, they're not. They're the reality of what they're supposed to measure. Complaining that they don't measure something they're not supposed to measure and/or don't show what they're not designed to or can't show is not "reality."
    The problem is that some people are trying to use those numbers to represent something that they don't represent. There were 175,000 jobs created in May. Wow, 175,000 seems like a lot of jobs, doesn't it?

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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by Anthony60 View Post
    The problem is that some people are trying to use those numbers to represent something that they don't represent. There were 175,000 jobs created in May. Wow, 175,000 seems like a lot of jobs, doesn't it?
    Net change of 175,000 jobs. 0.1% monthly change. Not great, but it does represent a growing economy (highest under Bush was 0.3% for comparison). The nature of the jobs is not the best, but it's unclear what the implications are.
    Therefore, since the world has still/Much good, but much less good than ill,
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    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
    Net change of 175,000 jobs. 0.1% monthly change. Not great, but it does represent a growing economy (highest under Bush was 0.3% for comparison). The nature of the jobs is not the best, but it's unclear what the implications are.
    That's an understatement.

    Manufacturing jobs keep vanishing - down 3 months in a row.

    Goods producing jobs down 2 of the last 3 months.

    And three of the highest individually listed areas of job growth over the last three months are retail trade, temp jobs and leisure and hospitality.

    Employment Situation Summary Table B. Establishment data, seasonally adjusted


    In other words, Americans aren't producing things - they are just buying things.

    And considering the savings rate last month was the lowest since '07 (I believe) - they are going further and further into debt to buy these things.

    The only questions to me are how far and when.


    This is not a recovery...it's a Fed propped up, debt fuelled, house of cards.

    And the minute the Fed ends the QE's and the artificially low interest rates...it's (imo) all going to collapse.
    Last edited by DA60; 06-11-13 at 01:27 PM.

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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by DA60 View Post
    In other words, Americans aren't producing things - they are just buying things.

    And considering the savings rate last month was the lowest since '07 (I believe) - they are going further and further into debt to buy these things.
    Though I agree with the first portion of your post, what I've quoted above isn't necessarily true.

    If the money isn't going into savings, and people are buying things, then chances are, that money is going to pay for those things.

    Considering the 'interest' that's being paid on savings accounts (non-existent for all intense purposes) versus what the going interest rate is on credit cards (variable, mine is 14.99%) people would be foolish to 'save' rather than pay cash (or the equivalent thereof) for what they purchase.

    But not everybody functions that way... they'll spend what they have, and still run up more debt.
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    Re: May employment report: Economy adds 175K jobs

    As the unemployment numbers under Obama have been manipulated by the most egregious shifts in the Labor Force Participation Rate (LFPR) we have ever seen, this is all smoke-and-mirrors. Were Obama accountable for a more reasonable LFPR, such as just where it was when Stimulus was passed, real unemployment is still over 10%.

    Meanwhile, food-stamp rolls have increased by over 50% in less than 5 years of Obama. And still going up. There's your real measure.

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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by GottaGo View Post
    Though I agree with the first portion of your post, what I've quoted above isn't necessarily true.

    If the money isn't going into savings, and people are buying things, then chances are, that money is going to pay for those things.

    Considering the 'interest' that's being paid on savings accounts (non-existent for all intense purposes) versus what the going interest rate is on credit cards (variable, mine is 14.99%) people would be foolish to 'save' rather than pay cash (or the equivalent thereof) for what they purchase.

    But not everybody functions that way... they'll spend what they have, and still run up more debt.
    I am quite sure that was one of the things the Fed had in mind when they dropped rates to near nothing. ..force people to spend their savings (although that is killing seniors on fixed incomes who are trying to live off of heir savings).

    But there are other places Americans could put their money. Gold/silver until recently did exceptionally well, stocks will probably continue to climb - more or less - for the time being (as long as the Fed keeps QE's going and increasing).

    But simply spending your savings because the average consumer is getting squat from their savings accounts when the recovery is FAR from assured is foolish, IMO.

    Unfirtunately, the government seems to be counting on Americans to continue to spend every penny they have, save nothing and go further and further into debt.

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    Re: May employment report: Economy adds 175K jobs

    Quote Originally Posted by Eighty Deuce View Post
    As the unemployment numbers under Obama have been manipulated by the most egregious shifts in the Labor Force Participation Rate (LFPR) we have ever seen, this is all smoke-and-mirrors. Were Obama accountable for a more reasonable LFPR, such as just where it was when Stimulus was passed, real unemployment is still over 10%.

    Meanwhile, food-stamp rolls have increased by over 50% in less than 5 years of Obama. And still going up. There's your real measure.
    Yup, food stamp usage should scream out that this 'recovery' is a joke.

    But all Obama lovers (it seems) say about Food Stamps is how great Obama is to be providing the funds for the increase.

    Hello?

    The fact that the number of Americans who would/could starve without government assistance since Obama took is up over 40%(!?!) is a MAJOR failure...not a success.

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