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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 DA60 View Post
    Agreed.
    But I would call it more a 'McDonald's job recovery'.

    Take the last 12 months for example (according to the BLS):

    1,382,000 jobs were created.

    BUT - of those jobs, only 78,000(!?!) of those were between the all-important 25-54 age ranges. And men between 25-54 actually lost 30,000 jobs.

    Yet the unemployment rate dropped from 7.4% to 6.3%.

    That means 94.4% of all the jobs created in America over the past 12 months have been for those under 25 and those over 55.

    A prime example of how the headline number looks good - but the fine print shows the REAL story...this is a McDonald's/WalMart-type fueled recovery.



    Table A-9. Selected employment indicators
    I was talking about the early 2000's recovery, for the record. Of course, they have CHARTS and so apparently that means people never stop looking for work altogether due to bad economic conditions.
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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
    Agreed.
    But I would call it more a 'McDonald's job recovery'.

    Take the last 12 months for example (according to the BLS):

    1,382,000 jobs were created.

    BUT - of those jobs, only 78,000(!?!) of those were between the all-important 25-54 age ranges. And men between 25-54 actually lost 30,000 jobs.

    Yet the unemployment rate dropped from 7.4% to 6.3%.

    That means 94.4% of all the jobs created in America over the past 12 months have been for those under 25 and those over 55.

    A prime example of how the headline number looks good - but the fine print shows the REAL story...this is a McDonald's/WalMart-type fueled recovery.



    Table A-9. Selected employment indicators
    Is that a problem?

    more jobs for younger folks and for older folks, and more jobs for ladies. Bought time those people went to work.

    I have a theory that if we raised minimum wage, we would probably see that trend reverse. More jobs for 25-55 year olds, and fewer for younger folks. Which would essentially result in a stablizing of job growth in all age ranges.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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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 imagep View Post
    Is that a problem?

    more jobs for younger folks and for older folks, and more jobs for ladies. Bought time those people went to work.

    I have a theory that if we raised minimum wage, we would probably see that trend reverse. More jobs for 25-55 year olds, and fewer for younger folks. Which would essentially result in a stablizing of job growth in all age ranges.
    Is that a problem?

    What age group of the above do you think has the most responsibility?
    Who has the most dependents living under their roof?
    Has the most mortgages, buys the most houses, the most cars, the most cottages, the most RV's, the most furniture, the most big ticket items? Obviously it is - by a mile - the 25-54 group.
    And which group contains the ages when the prime money making in a person's career takes place? Again - the 25-54 group.
    And which group is by MILES the largest group - the 25-54 group...yet they have BY FAR the smallest growth?

    So the 25-54 group is by FAR the largest group, has by FAR the most responsibilities and purchase by FAR the most big ticket items...yet they have by FAR the smallest growth (and the male jobs in the group are contracting in number).

    Come on now man - are you seriously asking if that is a problem?
    Last edited by DA60; 06-21-14 at 03:37 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 DA60 View Post
    Is that a problem?

    What age group of the above do you think has the most responsibility?
    Who has the most dependents living under their roof?
    Has the most mortgages, buys the most houses, the most cars, the most cottages, the most RV's, the most furniture, the most big ticket items? Obviously it is - by a mile - the 25-54 group.
    And which group contains the ages when the prime money making in a person's career takes place? Again - the 25-54 group.
    And which group is by MILES the largest group - the 25-54 group...yet they have BY FAR the smallest growth?

    So the 25-54 group is by FAR the largest group, has by FAR the most responsibilities and purchase by FAR the most big ticket items...yet they have by FAR the smallest growth (and the male jobs in the group are contracting in number).

    Come on now man - are you seriously asking if that is a problem?
    then we need to increase minimum wage.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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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
    Agreed.
    But I would call it more a 'McDonald's job recovery'.

    Take the last 12 months for example (according to the BLS):

    1,382,000 jobs were created.
    Are you talking net change in jobs or net change in employment? (not the same thing). In either case, I'm not seeing where you're getting the 1,382,000 number from. Assuminb you mean employment, not jobs, since you're linking to Table A-9, I look at it and see that the not seasonally adjusted (nsa) change for age 16+ from May 2013 to May 2014 was 1,966,000 and the seasonally adjusted change was 1,895,000 (not seasonally adjusted is better for comparing the same month in different years and for averages, seasonally adjusted is better otherwise). So where did you get 1,382,000?

    BUT - of those jobs, only 78,000(!?!) of those were between the all-important 25-54 age ranges.
    age 25-54 nsa:
    May 2013: 94,963,000
    May 2014: 95,510,000
    change: +547,000

    age 25-54 sa
    May 2013: 94,554,000
    May 2014: 95,041,000
    change +487,000

    And men between 25-54 actually lost 30,000 jobs.
    Men age 25-54 nsa
    May 2013: 50,867,000
    May 2014:51,105,000
    change: +238,000

    Men age 25-54 sa
    May 2013: 50,605,000
    May 2014: 50,837,000
    change: +232,000



    Table A-9. Selected employment indicators

    I'm really baffled how you can cite numbers that bear absolutely no relation to your own link. How did you manage that?
    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: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by pinqy View Post
    ...

    I'm really baffled how you can cite numbers that bear absolutely no relation to your own link. How did you manage that?
    Extremist right wing bias?

    Economic reality never supports extremist theories, so they make up their own reality. It must be nice to be able to live in ones on little fantasy world that always proves themselves right.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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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 imagep View Post
    Extremist right wing bias?

    Economic reality never supports extremist theories, so they make up their own reality. It must be nice to be able to live in ones on little fantasy world that always proves themselves right.
    No, it's not bias....he certainly didn't make up the numbers and I'm confident he isn't trying to skew things at all. He either misread the table or relied on someone else and didn't think to double check.
    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: U.S. Adds 217,000 Jobs in May, Unemployment Rate Stays at 6.3%[W:218]

    Quote Originally Posted by pinqy View Post
    Are you talking net change in jobs or net change in employment? (not the same thing). In either case, I'm not seeing where you're getting the 1,382,000 number from. Assuminb you mean employment, not jobs, since you're linking to Table A-9, I look at it and see that the not seasonally adjusted (nsa) change for age 16+ from May 2013 to May 2014 was 1,966,000 and the seasonally adjusted change was 1,895,000 (not seasonally adjusted is better for comparing the same month in different years and for averages, seasonally adjusted is better otherwise). So where did you get 1,382,000?


    age 25-54 nsa:
    May 2013: 94,963,000
    May 2014: 95,510,000
    change: +547,000

    age 25-54 sa
    May 2013: 94,554,000
    May 2014: 95,041,000
    change +487,000


    Men age 25-54 nsa
    May 2013: 50,867,000
    May 2014:51,105,000
    change: +238,000

    Men age 25-54 sa
    May 2013: 50,605,000
    May 2014: 50,837,000
    change: +232,000



    Table A-9. Selected employment indicators

    I'm really baffled how you can cite numbers that bear absolutely no relation to your own link. How did you manage that?
    You are absolutely right, I completely misread the stats...I took the non-seasonally adjusted numbers from May 2013 and compared them to the seasonally adjusted numbers from May 2014 (DUH!!!).

    I applaud and thank you for spotting that.


    But, now let's compare two apples instead of apples and oranges (like I did above)

    The trend still bears out what the general pattern that I stated earlier, just not as drastically:

    Over the last year (seasonally adjusted):

    1,895,000 more people were employed.

    662,000 in the 16-24 age range.

    487,000 in the (IMO) all-important 25-54 age range.

    746,000 in the 55 plus age range.


    So, that means, of all the increase in employment in the past 12 months, only 25.6% of it was in the important 25-54 age range (even though this age range makes up 65% of the total number of employed)

    The other 74.4% of the increases were for those under 25 and those over 55.

    So, once again, the vast majority of the additional employment during the past 12 months was due to jobs for students and seniors (relatively speaking)...McDonald's/WalMart-type jobs.
    Last edited by DA60; 06-22-14 at 10:28 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 imagep View Post
    Extremist right wing bias?

    Economic reality never supports extremist theories, so they make up their own reality. It must be nice to be able to live in ones on little fantasy world that always proves themselves right.
    Hey...I did not see you notice...and I gave you the link?

    So I would not get too high on the hog were I you.
    Last edited by DA60; 06-22-14 at 10:30 PM.

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

    Btw, many consider the 45-54 age range as the peak earning years

    Comparing seasonally adjusted employment over the past 12 months the number of people employed in the 'peak earning years' actually declined by 77,000.

    That CANNOT be good.

    Table A-9. Selected employment indicators

    Peak earning years - Wikipedia, the free encyclopedia

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