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Thread: US economy adds 288,000 jobs in June

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by justabubba View Post
    so that's what happened to all of the secretaries, bank tellers, receptionists, and stenographers

    how much longer will we have cab drivers, truck drivers, and couriers, once the google driverless vehicle technology becomes proficient

    surprised we still have car salesmen, as if you need someone to point out a car's features ... but then we see states prohibiting direct/internet sales of the tesla, in the ultimately errant belief they can stem that tide which will eliminate such valueless positions

    anyone seen a plan to train our under-skilled to become adequately skilled for future employment opportunities?
    I'm not disagreeing with you, but shouldn't having adequate job skills be the responsibility of those who are seeking jobs? Nothing is really preventing me from learning new job skills, other than the fact that I just don't see a need to right now.
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    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by imagep View Post
    I'm not disagreeing with you, but shouldn't having adequate job skills be the responsibility of those who are seeking jobs? Nothing is really preventing me from learning new job skills, other than the fact that I just don't see a need to right now.
    you and i have the benefit of age, which many who need their skills updated, do not
    also, during out era, getting a 4 year degree was the accepted means to attain/maintain middle class status
    that's not so true anymore
    every child in china is being taught software/coding
    not so much in the USA
    in germany, as they approach high school, the students are evaluated for the track they will best be expected to attain. those not inclined towards a 4 year degree learn other, practical, wage earning skills
    here, not so much
    our tech schools used to be almost free. while not as expensive as universities, their tuition and fees are now a barrier to many who would choose to attend to enhance their skills. why do we allow such a barrier to skills development in our country
    while we cannot want education/training for those citizens who want it, we could eliminate such barriers to becoming better qualified for the workplace. why don't we
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by DA60 View Post
    Uhh...yeah.

    Anyway....

    ...according to several links I have seen, the average hours worked in a part time job is about 20 hours per week (not official numbers).

    Here is an EU link:

    Eurostat - Tables, Graphs and Maps Interface (TGM) table

    If that is the case here, then that would mean that 523,000 jobs at a minimum of 35 hours per week are being replaced by 799,000 jobs at roughly 20 hours per week.

    523,000 times 35 = 18,305,000

    799,000 times 20 = 15,980,000

    So, this would mean that there were less hours worked each week then the previous month...despite the fact there were more jobs.

    In fact, by my math, you would need 22.9 hours per week per part time job just to equal the number of hours lost due to the demise of 523,000 full time jobs.

    Also, the full time number was a theoretical minimum (based on evey job lost being equal to a maximum of 35 hours per week) that will certainly be much higher in reality.


    So, on the face of it, not only is this jobs report not nearly as good as the headline suggests - it may even be a net regression of total employment hours available to Americans in June over May.

    I did a bit more research and found this link:

    Persons at work in agriculture and nonagricultural industries by hours of work

    So taking the median from each part time group (1-34 hours/week) and doing the math, I came up with the following:

    the average hours per week of a part time workers is 22.35 hours.

    Plus, according to the same chart; 'Average hours, persons who usually work full time' is 42.6 hours/week.


    So, using the above,

    523,000 full time jobs at 42.6 hours/week equals 22279800 hours per week lost

    799,000 part time jobs at 22.35 hours/week equals 17857650 hours per week gained

    That leaves 4422150 less hours worked in June vs. May.

    4422150 divided by 42.6 hrs/week for an average full time job equals 103,806.

    That means (by my calculations) the equivalent of 103,806 average full time jobs were lost last month over May.


    Imo, forget the headlines, this was a lousy jobs report.

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by justabubba View Post
    you and i have the benefit of age, which many who need their skills updated, do not
    also, during out era, getting a 4 year degree was the accepted means to attain/maintain middle class status
    that's not so true anymore
    every child in china is being taught software/coding
    not so much in the USA
    in germany, as they approach high school, the students are evaluated for the track they will best be expected to attain. those not inclined towards a 4 year degree learn other, practical, wage earning skills
    here, not so much
    our tech schools used to be almost free. while not as expensive as universities, their tuition and fees are now a barrier to many who would choose to attend to enhance their skills. why do we allow such a barrier to skills development in our country
    while we cannot want education/training for those citizens who want it, we could eliminate such barriers to becoming better qualified for the workplace. why don't we
    Fantastic post.

    Hit the nail on the mother****ing head.

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by DA60 View Post
    I did a bit more research and found this link:

    Persons at work in agriculture and nonagricultural industries by hours of work

    So taking the median from each part time group (1-34 hours/week) and doing the math, I came up with the following:

    the average hours per week of a part time workers is 22.35 hours.

    Plus, according to the same chart; 'Average hours, persons who usually work full time' is 42.6 hours/week.


    So, using the above,

    523,000 full time jobs at 42.6 hours/week equals 22279800 hours per week lost

    799,000 part time jobs at 22.35 hours/week equals 17857650 hours per week gained

    That leaves 4422150 less hours worked in June vs. May.

    4422150 divided by 42.6 hrs/week for an average full time job equals 103,806.

    That means (by my calculations) the equivalent of 103,806 average full time jobs were lost last month over May.


    Imo, forget the headlines, this was a lousy jobs report.
    What percentage of labour remunerations are in "Wage" alone?

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by Buddha C View Post
    What percentage of labour remunerations are in "Wage" alone?
    What?

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by DA60 View Post
    You are cherry picking and you (hopefully for your sake) know it.

    The thread subject is last month.

    And last month was a net loss of total employment hours in America.
    To be fair, I think the animus of this thread was on the: Direction of the US Economy.

    June being a SINGLE indicator of such.

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by DA60 View Post
    What?
    How much a labourer is "paid" is not singularly accounted for by wage. Iirc, (and this could be wrong, I'm getting to the point of drunk now which tends to show a correlation with me getting banned :P) bring-home wage is roughly only 30-60% of what a labourer gets paid for their efforts in sum.

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by Buddha C View Post
    How much a labourer is "paid" is not singularly accounted for by wage. Iirc, (and this could be wrong, I'm getting to the point of drunk now which tends to show a correlation with me getting banned :P) bring-home wage is roughly only 30-60% of what a labourer gets paid for their efforts in sum.
    Okay.

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    Re: US economy adds 288,000 jobs in June

    Quote Originally Posted by DA60 View Post
    Okay.
    Are you familiar with the concept of work-sharing? How it assisted Germany, despite the lackadasical account of the global recession in their country overall, with the crisis?

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