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Thread: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

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    re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Slyfox696 View Post
    Again, what you're likely referring to is the labor force participation rate, something completely different from the number of people in the labor force (don't worry, votemeout and Conservative don't seem to understand it either, based on their posts). The labor force participation rate IS down, but we knew 30 years ago it would start dropping around this time due to retiring Baby Boomers.

    Does that explain why the labor force participation rate is where it is? I don't know, I've never seen any statistics to explain who dropped out and why. But I DO know we've known this was coming for a long time.


    Quote Originally Posted by Demon of Light View Post
    Working-age population has grown by nearly 7 million since 2008 and about 6 million since Lehman:



    In other words, the economy is not even close to having proportionate pre-crisis levels of employment, just numeric pre-crisis levels. What accounts for the relatively low unemployment rate? The labor force participation rate accounts for it, which by no means is limited just to people retiring. Not a single reputable economist would argue that the change in the participation rate over the past few years is not predominantly due to economic conditions. I assure you that these people are not retirement age.
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    re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by DA60 View Post
    I do...since the U-3 means little to me. The only one I care about is the U-6. And if it goes down, then the unemployment situation is (officially) better, IMO. And since it went down last month...then the unemployment situation in America is (officially) better.
    Wonder if the 19 million unemployed/under employed/discouraged workers feel the same way? If you truly care about the U-6 then you would care about the actual people not the percentage change. How about the 11+% African American unemployed or the 19% 16-19 year old unemployed. Obama is an economic disaster either deliberate or out of ignorance. You decide?

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    re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Conservative View Post
    Wonder if the 19 million unemployed/under employed/discouraged workers feel the same way? If you truly care about the U-6 then you would care about the actual people not the percentage change. How about the 11+% African American unemployed or the 19% 16-19 year old unemployed. Obama is an economic disaster either deliberate or out of ignorance. You decide?
    I said 'officially' for a reason.

    I am not saying that the U-6 dropping automatically means the economy is better or anything.

    I am saying that of the various unemployment (or underemployment) measurements used by the government, only the U-6 means anything to me.

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    re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Conservative View Post
    Wonder if the 19 million unemployed/under employed/discouraged workers feel the same way? If you truly care about the U-6 then you would care about the actual people not the percentage change. How about the 11+% African American unemployed or the 19% 16-19 year old unemployed. Obama is an economic disaster either deliberate or out of ignorance. You decide?
    We elect lawyers not economists - how can you be shocked.

    Half these clowns in DC have never run a business in their lives and have no concept of economy.

    What we need in DC are economists, business owners accountants etc...... Not a bunch of lawyers who are natural liars, who know nothing about economy.

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    re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Btw,

    Men over 20 lost 7,000 jobs.

    And women 25-54 lost 37,000 jobs.

    So only teen/55+ men had more jobs.

    And only 16-24/55+ women had more jobs.

    Table A-9. Selected employment indicators


    Gotta love those McDonald's jobs.

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    re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by DA60 View Post
    Btw,

    Men over 20 lost 7,000 jobs.

    And women 25-54 lost 37,000 jobs.

    So only teen/55+ men had more jobs.

    And only 16-24/55+ women had more jobs.

    Table A-9. Selected employment indicators


    Gotta love those McDonald's jobs.
    All those Wal*Mart greeters had to move to the check-out lines so now the 30-somethings are looking for temp work. Yay recovery!
    "For what is Evil but Good-tortured by its own hunger and thirst?"
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    re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    So, according to the BLS household data survey...in the all important 25-54 age range (both sexes)...

    ...employment went down in this prime money making group by 110,000 last month.


    Also, since March - when the winter snow was ending - 319,000 jobs in the 25-54 age range have been lost.

    So much for the 'weather' excuse.

    Table A-9. Selected employment indicators

    The economy is stalled...period.

    All it is doing is creating crap/temporary jobs for students and seniors.
    Last edited by DA60; 06-08-14 at 11:50 PM.

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    re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Conservative View Post
    Honest debate and wrong terminology? LOL, when you say there are more people working now than when the recession began that isn't just using the wrong terminology that is a LIE.
    I think it's funny I already addressed it, showed you how it was pretty clear what I meant, and you still refuse to acknowledge it.

    Let me know when you wish to discuss this with my actual argument in mind.
    Quote Originally Posted by CanadaJohn View Post
    As an example, your comments above discount the reduction in the percentage of people in the labor force by implying it's largely related to retirement, even though you acknowledge there are still more people working or trying to find work - this would require, of course, that large numbers of those leaving the labor force due to retirement were those retiring early since those retiring at the standard retirement age of 65 or there abouts would no longer be included in the numbers used to determine the potential size of the labor force.
    It's been well known for a long time the baby boomers created a population bubble, and now that they are coming to age of retirement, it explains why more people are in the labor force, even as participation is down.

    On the other hand, you discount the GDP figures because they are potentially, although not entirely, significantly impacted by the weather this past winter.
    I'm not discounting it, I'm just saying you have to always understand context surrounding any numbers.
    Quote Originally Posted by pinqy View Post
    But it's not a fact. You can't confuse terminology like that.
    I already addressed this. Another poster said fewer people were in the workforce. I said that is false, as more people are in the workforce. The meaning of what I said was quite clear, as I've already pointed out.
    Quote Originally Posted by Demon of Light View Post
    I don't see what you think you are contributing.

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    re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Conservative View Post
    Wonder if the 19 million unemployed/under employed/discouraged workers feel the same way? If you truly care about the U-6 then you would care about the actual people not the percentage change. How about the 11+% African American unemployed or the 19% 16-19 year old unemployed. Obama is an economic disaster either deliberate or out of ignorance. You decide?
    WHAT HAPPENED WITH 8 YEARS OF 'JOB CREATOR' POLICIES UNDER BUSH? Oh right he lost 673,000+ PRIVATE sector jobs in 8 years NOT counting the 4+ million lost in 2009 thanks to his policies


    Even stopping pre Bush great recession, that 'Job creator' policy was MISERABLE

    Bush Lead During Weakest Economy in Decades

    Bush Lead During Weakest Economy in Decades



    DEC 2007

    The Economic Consequences of Mr. Bush

    The next president will have to deal with yet another crippling legacy of George W. Bush: the economy. A Nobel laureate, Joseph E. Stiglitz, sees a generation-long struggle to recoup.


    The Economic Consequences of Mr. Bush | Vanity Fair

    5+ MILLION PRIVATE SECTOR JOBS (NET SINCE JAN 2009)

    Bureau of Labor Statistics Data

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    re: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by Mr.Nick View Post
    We elect lawyers not economists - how can you be shocked.

    Half these clowns in DC have never run a business in their lives and have no concept of economy.

    What we need in DC are economists, business owners accountants etc...... Not a bunch of lawyers who are natural liars, who know nothing about economy.

    Lowest sustained tax burden on the 'job creators' for 80+ years. Highest Corp profits in the US ever, lowest tax burden on them in 40+ years and lowest cost for labor (less than 50%) ever recorded, where are those 'job creators'?

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