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Thread: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%[W:59]

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    Re: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%

    Quote Originally Posted by Conservative View Post
    It is logic and comments like those of NINBY that make me a Con. They think with their hearts instead of their brain.
    Well, I assume like most people, he read the headline but did not bother to read anything else.

    This is not a good employment report.

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    Re: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%

    Quote Originally Posted by DA60 View Post
    According to the household survey, only 132,000 jobs were created and the unemployment rate went up (not down).
    More than 2 million jobs have been created year over year. The unemployment rate went up due to more people entering the labor force.

    Why haven't you commented on the 285 full time jobs that were created in July? Your obsession with finding ANYTHING negative in the economic data sticks out like a sore thumb.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%

    FWIW

    The current steak of 200k+ monthly job creation is the best since............ 1997.

    And given the ISM data released yesterday, we shouldn't see this level of bias to the downside.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%

    Quote Originally Posted by Kushinator View Post
    More than 2 million jobs have been created year over year. The unemployment rate went up due to more people entering the labor force.

    Why haven't you commented on the 285 full time jobs that were created in July? Your obsession with finding ANYTHING negative in the economic data sticks out like a sore thumb.
    Sounds a lot like you and your support for anything that comes out of this Administration and promoting it as positive. Only this month did we get back to the Employment of December 2007 which was the beginning of the recession and yet we still have well over 700,000 discouraged workers, 7.5 million part time employees looking for full time work, low labor participation rate, and 9.7 million unemployed.

    Isn't it amazing that with a reported 4% GDP Growth that employment didn't meet economists forecasts? Doesn't seem that the two, unemployment and economic growth are in sync. Wonder why that is? Couldn't have anything to do with poor Obama leadership, could it? When was the last time you heard Obama talk about the greatness of America and the benefits generated by the private sector? Where is the positive leadership instead of being divisive and promoting class warfare?

    Seems that far too many like you don't understand marketing at all nor the value of a positive pro growth economic policy. There is a reason Obama's poll numbers are so low and boosted only by the low information voter which I never dreamed you would be part of.

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    Re: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%

    Quote Originally Posted by Kushinator View Post
    FWIW

    The current steak of 200k+ monthly job creation is the best since............ 1997.

    And given the ISM data released yesterday, we shouldn't see this level of bias to the downside.
    Here is what good quality leadership and a pro growth economic policy will generate

    Labor Force Statistics from the Current Population Survey
    Original Data Value

    Series Id: LNS12000000
    Seasonally Adjusted
    Series title: (Seas) Employment Level
    Labor force status: Employed
    Type of data: Number in thousands
    Age: 16 years and over
    Years: 1980 to 2014

    Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
    1980 99879 99995 99713 99233 98945 98682 98796 98824 99077 99317 99545 99634
    1981 99955 100191 100571 101056 101048 100298 100693 100689 100064 100378 100207 99645
    1982 99692 99762 99672 99576 100116 99543 99493 99633 99504 99215 99112 99032
    1983 99161 99089 99179 99560 99642 100633 101208 101608 102016 102039 102729 102996
    1984 103201 103824 103967 104336 105193 105591 105435 105163 105490 105638 105972 106223
    1985 106302 106555 106989 106936 106932 106505 106807 107095 107657 107847 108007 108216
    1986 108887 108480 108837 108952 109089 109576 109810 110015 110085 110273 110475 110728
    1987 110953 111257 111408 111794 112434 112246 112634 113057 112909 113282 113505 113793
    1988 114016 114227 114037 114650 114292 114927 115060 115282 115356 115638 116100 116104
    Recession ended November 1982. With the recession as bad as you and others claimed the rebound has been puny at best.

    With such low standards that apparently you have, is it no wonder that leadership and strong economic results aren't something you understand

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    Re: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%

    Quote Originally Posted by Conservative View Post
    Seems that far too many like you don't understand marketing at all nor the value of a positive pro growth economic policy. There is a reason Obama's poll numbers are so low and boosted only by the low information voter which I never dreamed you would be part of.
    I have made it a point to label the recovery as slow, but then again it's not really surprising given the level of global financial calamities we have endured in the past 6 years.

    It looks as though the U.S. labor market has reached escape velocity. Here is a podcast that can further explain the concept.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%

    Quote Originally Posted by Conservative View Post
    ........
    Why even bother replying to my comment if you refuse to address a single point made?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%

    Quote Originally Posted by Kushinator View Post
    I have made it a point to label the recovery as slow, but then again it's not really surprising given the level of global financial calamities we have endured in the past 6 years.

    It looks as though the U.S. labor market has reached escape velocity. Here is a podcast that can further explain the concept.
    It is hard to explain the concept to people like you who have such low economic standards and understanding of incentive including even your own. It really is hard making you and others understand the value of promoting a pro growth economic policy in a country built on the private sector. Govt. spending will only go so far and last so long. How good Americans can support this incompetence and low economic results is beyond comprehension.

    The American leadership is under attack with Obama and it is American leadership that is missing in this so called world economy. You and others want to focus on big business but it is the small local businesses suffering and holding the economy and job creation back.

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    Re: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%

    Quote Originally Posted by Kushinator View Post
    Why even bother replying to my comment if you refuse to address a single point made?
    Maybe if you get someone to help you read the charts I posted you will understand that I did address every point you made.

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    Re: U.S. economy adds 209,000 jobs, unemployment rate rises to 6.2%

    Quote Originally Posted by Kushinator View Post
    More than 2 million jobs have been created year over year. The unemployment rate went up due to more people entering the labor force.
    Oh come on now.
    When Bush was in charge and the economy was losing jobs hand over fist during the Great Recession, did you say 'forget these terrible job losses, look at how the economy did over the last year overall'? Of course you didn't. Talk about partisan cherry picking. I am surprised you did not go back 5 years.

    I could care less how the economy did from a year ago (unless it points to a recent trend)...and so do most respected economists, IMO. Wall Street does not think 'Gee these numbers are not good...but that does not matter, they were good 9-12 months ago'. Of course not...they go on the latest numbers and on recent trends.

    And the latest numbers and trends are not good.

    Since March, only 610,000 total jobs (full and part time) have been created - or only 152,500 per month...which I am quite sure you know is not even enough to keep up with the population growth. And that is despite the supposed (as Conservative pointed out) 4% GDP rise from April-June.

    That is a negative trend.

    Why haven't you commented on the 285 full time jobs that were created in July? Your obsession with finding ANYTHING negative in the economic data sticks out like a sore thumb.
    Well the two facts don't really add up this month. The BLS household data says only 131,000 jobs were created and yet says that 337,000 full and part time jobs were created...so something does not add up (though last month the two did add up).

    But even if we assume both numbers are somehow accurate...in the last four months, only 74,000 full time jobs (as opposed to 773,000 part time jobs) have been created...that is DEFINITELY a bad trend, IMO.

    Table A-9. Selected employment indicators

    Table A-1. Employment status of the civilian population by sex and age


    Btw, it was also not a good month in that many areas of the economy saw lower weekly earnings like the Goods Producing Industry as well as Information, Financial Activities, Professional And Business Services and Other Services.

    Table B-3. Average hourly and weekly earnings of all employees on private nonfarm payrolls by industry sector, seasonally adjusted


    Plus the unemployment rate went up.


    I am not sure how all this adds up to anything but a bad (though not horrible) month to you...must be your apparent political partisanship.

    Whereas I am not loyal to either party AT ALL...I have no such bias.


    Good day.
    Last edited by DA60; 08-02-14 at 01:37 PM.

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