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Thread: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To 6.1

  1. #21
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    Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

    Quote Originally Posted by DA60 View Post
    That is why I believe that the U-6 is a FAR more accurate measurement of the U.S. national employment situation then the U-3 (btw, the U-6 is currently 12.0%).

    Table A-15. Alternative measures of labor underutilization
    So are you saying the U.S. economy has greatly improved these past couple of years?

    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: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

    Quote Originally Posted by GreatNews2night View Post
    People as usual grossly overestimate what a president can do for the job market, especially when all possible initiatives are blocked by Congress. It's both unrealistic to praise the president for good job numbers as it is to bash him for bad job numbers.


    That would include the president then. He has been claiming he's creating jobs, he forecast a truck load of jobs in the "hee, hee, shovel ready wasn't as shovel ready..."

    So if he is so limited, was it hubris or incompetence that let him run his mouth?
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    Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

    Quote Originally Posted by Fearandloathing View Post
    Why always such attitude from Obamaland?

    I don't believe the graph any more than anything else to come out of this administration.
    "There is no greater barrier to knowledge, no greater guarantee of absolute ignorance so great as contempt without prior investigation."
    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: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

    Quote Originally Posted by DA60 View Post
    'The Bureau of Labor Statistics released a significantly weaker than expected August jobs report Friday morning.

    Employers added just 142,000 jobs last month, sharply lower than the 225,000 economists were anticipating and the smallest monthly gain of 2014. The unemployment rate, which is drawn from a different survey of households, dropped from 6.2% to 6.1%.

    The July payroll number was revised up from plus 209,000 jobs to plus 212,000 but June’s count was revised down from 298,000 jobs added to 267,000. Total employment gains those months were therefore 28,000 lower than what BLS — a division of the Department of Labor — previously reported. Job growth has averaged 212,000 for the last twelve months.'


    Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To 6.1% - Forbes


    BTW, the unemployment rate dropped principally because the labor force participation rate dropped...again.
    How about comparing the overall picture, the jobs created per month?

    President Term Begin End Plus/Minus Avg. annual rate

    Bill Clinton D 1993–1997 109,726 121,233 +11,507 +2.52%
    Bill Clinton D 1997–2001 121,231 132,466 +11,233 +2.24%
    George W. Bush R 2001–2005 132,466 132,553 -13 -0.002%
    George W. Bush R 2005–2009 132,553 133,631 +1,129 +0.21%
    Barack Obama D 2009–2013 133,631 135,295 +1,536 +0.28%
    Barack Obama D 2013–6/2014 135,295 138,941 +3,646 +1.80%

    Gee, do we see a pattern here? I know this may come as a shock, but an average growth of 212K job per month is a heck of a lot better than what we had when the Republicans had the White House and both houses of Congress.

    P.S., according to the table (which is drawn from BLS data), since the Great Depression, the greatest percentages of growth per annum in a single presidential term were achieved by:

    FDR - 5.00%
    FDR - 4.97%
    LBJ - 3.90%
    Carter - 3.06%
    Truman - 2.93%
    Reagan - 2.69%

    In other words, the best the Republicans had got them in sixth place on the list.

    No offense, guy, but when it comes to jobs, y'all have ZERO room to talk.
    “To do evil, a human being must first of all believe that what he’s doing is good" - Solzhenitsyn

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    Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

    Quote Originally Posted by Fearandloathing View Post
    Why always such attitude from Obamaland?
    Obamaland? I never stated an opinion about Obama in this thread. I simply pointed out some facts to a helplessly ill-informed individual.

    I don't believe the graph any more than anything else to come out of this administration.
    Unless we can find some negative information... Like this:



    Its amazing how a bit of confirmation bridges the gap between belief and disbelief.
    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: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

    Quote Originally Posted by Fearandloathing View Post
    That would include the president then. He has been claiming he's creating jobs, he forecast a truck load of jobs in the "hee, hee, shovel ready wasn't as shovel ready..."

    So if he is so limited, was it hubris or incompetence that let him run his mouth?
    Wait, you said you don't believe the President, so it doesn't matter what he says, you don't believe the BLS numbers, so it doesn't matter what they say......so where are you getting any information?
    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: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

    Quote Originally Posted by Kushinator View Post
    The U.S. economy is better of now than when Obama was both elected and sworn in as President. Does this fact bother you in any way?
    Really? When he took office, the U-3 rate was 4.9% - today it is 6.1%.
    And that does not include the fact that the Labor Force Participation Rate was 66.2%. Today it is only 62.8%.
    If you counted only 1/2 of those that have left the work force - the U-3 would be 8.5%.

    http://www.bls.gov/news.release/arch...t_02012008.pdf

    Bureau of Labor Statistics Data

    What about the poor?

    Well, those on Food stamps are up by over 2/3'rds:



    http://www.trivisonno.com/wp-content...ps-Monthly.jpg


    So, the unemploymment rate is higher and FAR more people require government assistance to not go hungry.

    And that is your idea of 'the U.S. economy is better of now'?

    Noted.



    You speak as though the U.S. economy has been losing jobs!



    Clearly this isn't the case. Does this bother you?
    Yes, there are more people employed. According to the household survey, since January 2008, despite the trillions of dollars of government/Fed stimulation and the 'artificially' low interest rates...the economy has created a grand total of....*drum roll*....120,000 more employed people.
    Yup, that works out to less then 20,000 per year...not per month...per YEAR.

    And that is not all the bad news.

    Since Obama took office, there are now 2.586 MILLION less people that are full time employed but there are 2.7 million more persons employed part time since Obama took office.

    And since Obama took office, there are now 4.55 MILLION less people employed in the prime money making years of 25-54.

    http://www.bls.gov/news.release/arch...t_02012008.pdf

    Table A-9. Selected employment indicators


    Plus, the wealth/income gap has widened since Obama took office.

    'The gap between the richest Americans and the rest of the nation widened after the Great Recession, a survey by the Federal Reserve showed on Thursday, suggesting deepening U.S. income inequality.'

    Fed survey highlights widening U.S. wealth, income gap | Reuters


    And all that for a roughly 60% increase in the national debt.


    BTW - I am neither Dem nor Rep.

  8. #28
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    Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

    Quote Originally Posted by DA60 View Post


    BTW - I am neither Dem nor Rep.
    No, you are a libertarian.

    A libertarian that can't count. Since the low point in 2010, nearly 10 Million jobs have been added. This President was not in office in Jan of 2008. And anyone with any knowledge of economics understands that employment is a lagging indicator. Has this President had the cooperation of Congress? Obviously not. As I keep pointing out to you, most of what he has had is cooperation on monetary policy, fiscal has been dead. Monetarily, the Fed has done just about the most it can do. Fiscally, we could be doing a lot more to make up the gap in demand.

    SNAP participation is simply a reflection of the employment situation (LAGGING)....but note:


    As the economy has improved, SNAP caseloads have started to fall. While growth over the same month in the previous year reached up to 24 percent in mid-2009, growth slowed through 2012 and is now negative: according to recent data, fewer people participated in SNAP in each of the last four months of 2013 than in the same months of 2012. More than 1.6 million fewer people participated in SNAP in February 2014 than when participation peaked in December 2012. This flattening of participation follows the pattern of previous recessions.
    Chart Book: SNAP Helps Struggling Families Put Food on the Table — Center on Budget and Policy Priorities
    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: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

    Quote Originally Posted by Fearandloathing View Post
    That would include the president then. He has been claiming he's creating jobs, he forecast a truck load of jobs in the "hee, hee, shovel ready wasn't as shovel ready..."

    So if he is so limited, was it hubris or incompetence that let him run his mouth?
    It's called being a politician. What, you didn't know politicians run their mouths trying to score some points with the voters? The president tries to tout his own horn just like ALL his predecessors.

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    Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

    Quote Originally Posted by Fearandloathing View Post
    I don't believe the graph any more than anything else to come out of this administration.
    If the graph is a lie, and manipulated by the Obama administration, then why would they admit the huge drop between 2008 and 2010? Why wouldn't they make the recovery look even better? Why wouldn't they cover up the decline in the labor force participation rate? And why would only one administration manipulate the figures?

    By the way, the BLS is made up of civil servants, who are pretty hard to fire. Federal bureaucracies tend to be non-partisan You aren't going to get thousands of BLS staffers screwing around with figures to please a president.

    And of course, these numbers are heavily scrutinized. When government figures diverge from reality, economists tend to notice -- as they have with Argentina fudging its inflation figures.

    Or, to put it another way: The problem isn't the figures. It's that you don't like what the figures are saying, or are expressing your distaste for Obama by griping about figures for which he isn't even personally responsible.

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