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Thread: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

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    Re: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

    Quote Originally Posted by Visbek View Post
    Yeah, too bad wages have been stagnant since the 1970s, and that the middle class is also "evaporating" because of the massive increase in income/wealth inequality, which distorts income measures.

    Employers have also spent the last 5 years doing everything they can to reduce their staffing to the barest minimum, and cut wages to the bone for everyone except the top ranks.

    The job market has dictated wages -- which, again, is why wages have been stagnant since the 1970s. Only 1.6 million people -- or 1% of the labor force -- are minimum wage workers.

    Finally, there haven't been any substantive restrictions placed on wages or the job market since the 90s. The minimum wage hasn't even kept up with inflation since the 90s.

    So... got another strategy to offer?
    I don't want to get into the weeds on this but it's lunacy to suggest the middle class has been squeezed because the minimum wage is stagnant. It's also lunacy to suggest wages have been stagnant since the 1970's. It is true that wages have not kept pace recently with increases in consumer goods, many of them goods essential to a comfortable life, but that's not all the fault of wages and often the fault of overregulation in government, most recently in the artificial increase in the costs of energy due to a desire in some parts to bankrupt the economy and people's lives in order to "save the planet" when it's debatable whether human arrogance is needed to save something that's been around for eons.

    The minimum wage is basically irrelevant to this discussion and simply feeds into the nonsense out of this White House that hasn't a clue what it's doing and won't listen to anyone who may be able to help.
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

  2. #32
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    Re: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

    Quote Originally Posted by Visbek View Post
    Yeah, too bad wages have been stagnant since the 1970s, and that the middle class is also "evaporating" because of the massive increase in income/wealth inequality, which distorts income measures.
    Someone who is determined to disbelieve something can manage to disregard an Everest of evidence for it. So Barack Obama will not temper his enthusiasm for increased equality with lucidity about the government’s role in exacerbating inequality.
    . . . .
    The welfare state, primarily devoted to pensions and medical care for the elderly, aggravates inequality. Young people just starting up the earnings ladder and families in the child-rearing, tuition-paying years subsidize the elderly, who have had lifetimes of accumulation. Households headed by people age 75 and older have the highest median net worth of any age group.

    In this sixth year of near-zero interest rates, the government’s monetary policy breeds inequality. Low rates are intended to drive liquidity into the stock market in search of higher yields. The resulting boom in equity markets — up 30 percent last year alone — has primarily benefited the 10 percent who own 80 percent of all directly owned stocks. Charles Wolf writes in the Weekly Standard: “The financial sector’s profits rose from 18 percent of total corporate profits preceding the recession in 2007 to 23 percent in 2013.”
    George Will: Democrats’ policies make income inequality worse - The Washington Post

    I'd have to agree with George on this one. A government that can give you all you want, can also take all you have. I don't see this as government's role. Further, when government takes on this role, it doesn't make things better, it makes things worse.

    Quote Originally Posted by Visbek View Post
    Employers have also spent the last 5 years doing everything they can to reduce their staffing to the barest minimum, and cut wages to the bone for everyone except the top ranks.

    The job market has dictated wages -- which, again, is why wages have been stagnant since the 1970s. Only 1.6 million people -- or 1% of the labor force -- are minimum wage workers.
    Information technologies and automation have made significant inroads and have impacted earning potential for many. You sure make it sound like it's the 'bad mean old businessman', and I don't agree. It it the average businessman's fault that there is a glut of labor? Supply and demand says when there is a glut, the prices drop. It's one of those reality based rules.

    Quote Originally Posted by Visbek View Post
    Finally, there haven't been any substantive restrictions placed on wages or the job market since the 90s. The minimum wage hasn't even kept up with inflation since the 90s.

    So... got another strategy to offer?
    Need to light the turbo chargers for this economy, rather than regulate it to death. It's a demand problem. Everyone is still very much cash strapped, and isn't spending like they used to. Kinda happens after a financial collapse.

    So how can you cheaply and effectively stimulate demand?

    Keystone Pipeline: Yes! (No cost to government)
    Off shore drilling: Yes! (No cost to government)
    Government land drilling: Yes! (No cost to government)
    Franking: Yes! (No cost to government)

    Just a few ideas, no doubt there are lots more.

    Why are we missing out on the American fossil fuel Renaissance? A positive force in the economy would be to allow the fuel prices to drop below $4 / gallon. Just think of how much money that would save the common man commuting from home to work and back.

    Oh wait. Can't have that.


    Yeah, we have the economy that we voted for. So now you're saying you don't like it?
    the Fix-is-in Bureau of Investigation

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    Re: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

    Quote Originally Posted by JRSaindo View Post
    1 million dropped out of the labor force.
    How did 800,000 get increased to 1 million, if that is really the case, since righties are calling the 288,000 # a lie?
    Kind of like increasing an average loss of 740,000 jobs for six straight months, ending 5 years ago, to 1 million each month.
    Meaning the 4.4 million number lost in 6 months should have been rounded to 6 million, 1 million a month .
    Physics is Phun

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    Re: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

    Quote Originally Posted by NIMBY View Post
    How did 800,000 get increased to 1 million, if that is really the case, since righties are calling the 288,000 # a lie?
    Kind of like increasing an average loss of 740,000 jobs for six straight months, ending 5 years ago, to 1 million each month.
    Meaning the 4.4 million number lost in 6 months should have been rounded to 6 million, 1 million a month .
    Sorry I didn't want to type out 800,000. Whats a couple hundred thousand at those levels anyway? Nitpick much?

    288k isn't lying, its misleading, that's all. But hey, believe the hype if you must. Here is your recovery as jobs go.

    At the peak of the recession in February 2010, the job number dropped to 129.7 million. Since then, the average monthly number of job adds is 172K.

    Guess the average monthly number of people who dropped out of the labor force since February 2010? 175K.

    SUCCESS! If you call more lower paying jobs success.
    Last edited by JRSaindo; 05-02-14 at 07:42 PM.

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    Re: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

    The missing point here remains the discouraged workers and the reality that we still have over a million less people working today than we had when the Recession began in December 2007 and we are almost 7 years later. Discouraged workers and people dropping out of the labor force always make the unemployment numbers look better than they are. There is a reason Obama has such a low JAR and it the reality of his economy, stagnant economic growth, massive govt. dependence, low job creation, discouraged workers, high debt thus high debt service, more regulations, wealth redistribution. Obama is a disaster so let's be honest for a change.

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    Re: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

    Quote Originally Posted by CanadaJohn View Post
    I don't want to get into the weeds on this but it's lunacy to suggest the middle class has been squeezed because the minimum wage is stagnant. It's also lunacy to suggest wages have been stagnant since the 1970's.
    Uh-huh...

    Quote Originally Posted by Gimmesometruth View Post
    Repost:



    Versus....



    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

    Quote Originally Posted by Gimmesometruth View Post
    Uh-huh...
    What is the minimum wage in your world and why is it the government's responsibility to tell a small private business owner with their own money invested in the business what to pay their workers? You don't seem to understand who makes minimum wage no matter how many times it is posted plus the reality that many making minimum wage aren't in poverty because they have very limited financial obligations.

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    Re: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

    Quote Originally Posted by Conservative View Post
    What is the minimum wage in your world and why is it the government's responsibility to tell a small private business owner with their own money invested in the business what to pay their workers? You don't seem to understand who makes minimum wage no matter how many times it is posted plus the reality that many making minimum wage aren't in poverty because they have very limited financial obligations.
    Poor con, can't understand that the response to the Canuck was a counter to the claim that one "has to be insane to believe that wages have been stagnant since the 1970's". It wasn't referencing MW specifically.

    I'll tell you who is a typical MW worker, she is a Hispanic woman working as a waitress in Texas making less than MW, thank you Herman Cain.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

    Quote Originally Posted by Gimmesometruth View Post
    Poor con, can't understand that the response to the Canuck was a counter to the claim that one "has to be insane to believe that wages have been stagnant since the 1970's". It wasn't referencing MW specifically.

    I'll tell you who is a typical MW worker, she is a Hispanic woman working as a waitress in Texas making less than MW, thank you Herman Cain.
    Yep, and happy to have a job and happy to live in TX with the low cost of living rather than being like far too many getting an unemployment check from those of us paying taxes and doing so for almost 2 years. Poor Gimme, out of touch with reality, the cost of living, and understanding of personal responsibility

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    Re: ECONOMY Jobs Report: U.S. Adds 288,000 Jobs; Unemployment Rate Drops to 6.3%

    Quote Originally Posted by Conservative View Post
    Yep, and happy to have a job and happy to live in TX with the low cost of living rather than being like far too many getting an unemployment check from those of us paying taxes and doing so for almost 2 years. Poor Gimme, out of touch with reality, the cost of living, and understanding of personal responsibility
    Um, hate to break it to you, but even in TX when one is making less than MW...they are in poverty.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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