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

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

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

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/archives/empsit_02012008.pdf

Bureau of Labor Statistics Data

What about the poor?

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

Food-Stamps-Monthly.jpg


http://www.trivisonno.com/wp-content/uploads/Food-Stamps-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!

fredgraph.png


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

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

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

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

Primarily due to....a lack of well paying full time jobs.

Any solutions?

how about stop hitting companies with overburdening regulations that drive them out of business?
how about getting rid of obamacare that causes companies that would like to expand to more than 50 employee's to not to because they can't afford obamacare?

there are a ton of things that could be done to get jobs going but well this administration has proven to be against any and all logic that means more jobs.

we have to sock it to those evil 1%er's.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

In response to todays dismal jobs #s the LA Times said we should spend more on " infrastructure and education ".......

Wow.
Yeah, it's almost as if they're listening to economists.
 
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Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Why always such attitude from Obamaland?

I don't believe the graph any more than anything else to come out of this administration.

And if you don't know what it is I am trying to say, don't expect "someone" to do your work for you.

Thanks for playing but I am really tired of the attitude.

That you believe the jobs figures to stem from the Administration itself speaks to your ignorance of the subject. The BLS is an independent entity, as it has been during any other Presidency.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

how about stop hitting companies with overburdening regulations that drive them out of business?
how about getting rid of obamacare that causes companies that would like to expand to more than 50 employee's to not to because they can't afford obamacare?

there are a ton of things that could be done to get jobs going but well this administration has proven to be against any and all logic that means more jobs.

we have to sock it to those evil 1%er's.
I see, regulations....and health care reforms...are causing demand restrictions.

As usual, supply-siders can't identify the issue within the economy.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Of course....the solution is to cut govt spending further, what we need is less spending all around, which everyone knows creates employment.


Yea the St Louis Fed came out and blamed the continued economic misery on people " hoarding " their money.

Wow.

I wonder WHY people aren't spending ? Could it be they've lost confidence in our economy ?

And advocating fiscal stimulus as a solution after Japan's failed 10 Trillion Yen attempt to right their economy in the 90s takes a special kind of blind allegiance

They even spent loads of that stimulus on " INFRASTRUCTURE ".... Lol
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

As usual, if you look at the household data (which is different then the headline numbers), you get a more detailed picture.

Employment Situation Summary

Table A-9. Selected employment indicators

Employment Situation Summary Table B. Establishment data, seasonally adjusted


The household data says:

- only 16,000 more people were employed in August

- if you look at the full/part time totals, 127,000 more people were working full time, but 327,000 less people were working part time for a total of 200,000 less people were employed in August (I bet the White House won't be touting those numbers).

- since April, only 201,000 more people are employed full time...under 51,000 per month on average.

- manufacturing had 0 more people employed in August over July.


Anyone that thinks these are numbers indicative of a healthy economy do not, IMO, know what they are talking about.

The full time job growth rate is disappointing, but the sooner that we get to 5% unemployment, regardless of whether it is full time or part time jobs and regardless of if it is only because people drop out of the labor force, the sooner that we will see wages increasing.

The reason I say that is because most economists believe that 5% is "full employment". If that is correct, then once we drop below that level it will become more of a workers market than an employers market, and employers will have to start competing harder for good workers.

If employers start increasing compensation, then it should draw some people back into the work force. Also, I would think that if a lot of part time workers would prefer full time employment, then employers would also start competing for workers by giving those part timers more work hours. Of course if this happens, we have so many part timers and so many who have left the work force, that the unemployment rate may stagnate right around the 5% level for many years to come - regardless of which party controls congress or who is POTUS.

The good news about stagnation of the unemployment rate is that it means we may have many more years of slow but steady growth to come, which significantly reduces the possibility of an over heated economy (bubble) ending with a significant recession. Statistically, the next presidential term would probably be about the right time for another cyclical recession, but this particular economy may be able to avoid that for a long long time.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

I see, regulations....and health care reforms...are causing demand restrictions.

As usual, supply-siders can't identify the issue within the economy.


LOL !!

The Keynesians are blaming it on a cartoon characterization of the richest 1 percent.

Its hillarious ! The existence of rich people in our society, ( Because you know, they've never existed before ) is causing our economic misery.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

In response to todays dismal jobs #s the LA Times said we should spend more on " infrastructure and education ".......

Wow.

And worse infrastructure and education would result in more jobs?
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

The full time job growth rate is disappointing, but the sooner that we get to 5% unemployment, regardless of whether it is full time or part time jobs and regardless of if it is only because people drop out of the labor force, the sooner that we will see wages increasing.

The reason I say that is because most economists believe that 5% is "full employment". If that is correct, then once we drop below that level it will become more of a workers market than an employers market, and employers will have to start competing harder for good workers.

If employers start increasing compensation, then it should draw some people back into the work force. Also, I would think that if a lot of part time workers would prefer full time employment, then employers would also start competing for workers by giving those part timers more work hours. Of course if this happens, we have so many part timers and so many who have left the work force, that the unemployment rate may stagnate right around the 5% level for many years to come - regardless of which party controls congress or who is POTUS.

The good news about stagnation of the unemployment rate is that it means we may have many more years of slow but steady growth to come, which significantly reduces the possibility of an over heated economy (bubble) ending with a significant recession. Statistically, the next presidential term would probably be about the right time for another cyclical recession, but this particular economy may be able to avoid that for a long long time.


5 percent is " full employment " ??

The unemployment rate without the context of the Labor participation rate is meaningless.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

I find no disappointment with a jobs report that is 882,000 better than each of the six months average beginning in Nov. 2008.
54 straight months of private sector job growth seems to have been forgotten by certain posters.
Since the President doesn't know how to brag and bluster like the last one.

Even when we hit +288,000, GOP/FOX and friends could only poke holes in the good news as they moved the goalposts to 300,000 .
The full time job growth rate is disappointing, but the sooner that we get to 5% unemployment, regardless of whether it is full time or part time jobs and regardless of if it is only because people drop out of the labor force, the sooner that we will see wages increasing.

The reason I say that is because most economists believe that 5% is "full employment". If that is correct, then once we drop below that level it will become more of a workers market than an employers market, and employers will have to start competing harder for good workers.

If employers start increasing compensation, then it should draw some people back into the work force. Also, I would think that if a lot of part time workers would prefer full time employment, then employers would also start competing for workers by giving those part timers more work hours. Of course if this happens, we have so many part timers and so many who have left the work force, that the unemployment rate may stagnate right around the 5% level for many years to come - regardless of which party controls congress or who is POTUS.

The good news about stagnation of the unemployment rate is that it means we may have many more years of slow but steady growth to come, which significantly reduces the possibility of an over heated economy (bubble) ending with a significant recession. Statistically, the next presidential term would probably be about the right time for another cyclical recession, but this particular economy may be able to avoid that for a long long time.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Why always such attitude from Obamaland?

I don't believe the graph any more than anything else to come out of this administration.

And if you don't know what it is I am trying to say, don't expect "someone" to do your work for you.

Thanks for playing but I am really tired of the attitude.

Sounds to me that you are saying that you don't believe the facts because they don't fit your political viewpoint.

I have to admit that sometimes I enjoy living in my own little fantasy world also, free from the distractions of reality.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

And worse infrastructure and education would result in more jobs?

No, the progressives keep pushing this Keynesian narrative, this investment in infrastructure and education as a SOLUTION to our economic problems.

Its NOT a solution, its just a way to build up massive debt and ignore the REAL reasons the sucks economy

Its ideology over practicality and functionality and that's just dangerous.

Japan went through TEN stimulus during the 90s spending 10 Trillion Yen trying to climb out of a economic hole.

They spent large amounts of that on " infrastructure " only to enter into more stimulus ( this time monetary and fiscal ) to fix the failed stimulus of the past.

How's Japan doing right now ?

So NO, I don't think we should copy their failed policies.

How about something that actually WORKS.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Yeah, it's almost as if they're listening to economists.



LOL !

Who ? Krugman ?

Their listening to their left wing Political ideology and nothing else.

Because they're definitely NOT advocating something that will actually work.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Yea the St Louis Fed came out and blamed the continued economic misery on people " hoarding " their money.

Wow.

I wonder WHY people aren't spending ? Could it be they've lost confidence in our economy ?
Sure, the vast numbers of consumers have cut back because of the lack of "confidence fairies", not because of declines in household wealth or real wage declines.

Excellent analysis....confidence fairies.

And advocating fiscal stimulus as a solution after Japan's failed 10 Trillion Yen attempt to right their economy in the 90s takes a special kind of blind allegiance

They even spent loads of that stimulus on " INFRASTRUCTURE ".... Lol
Japan? We shouldn't do infrastructure now because Japan did it in the 90's?

FFS fen, you have little understanding of the current US situation...and you think a distraction to an economy you less about makes for good argument?

We know that the very small level of actual infrastructure funding in the ARRA had a big return.....but this talk is just talk....funding will not come out of Congress. So not only is it pointless to debate you on DEMAND (since you think the issue is confidence fairies), it is even more pointless to expect a direct solution to demand via infrastructure spending.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

What the masses don't seem to realize is that you can theoretically have an unemployment rate of zero and have no more people employed then there are now.

It's government creative math, IMO.

Find ways to legally not count the unemployed and you magically lower the unemployment rate without anyone actually finding new jobs.

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

The U-6 is most definitely more reliable. Heck, I learned that in my high school economics class.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

More jobs is good. The number of people on welfare though, is bad. Meanwhile

There were 4.7 million job openings on the last business day of June, little changed from 4.6 million in May. The hires rate (3.5 percent) and the separations rate (3.3 percent) held steady in June. More...
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

LOL !!

The Keynesians are blaming it on a cartoon characterization of the richest 1 percent.

Its hillarious ! The existence of rich people in our society, ( Because you know, they've never existed before ) is causing our economic misery.
I see that English is not the only issue, it also is a matter of comprehension.

so let see if this gets through....I'll write it slowly...

Lack of DEMAND has a number of causes....one being that since 1980 real wage gains have declined for mid/low quintiles while top quintiles have maintained/increased their income gains.....due primarily to POLICY changes. Since the Great Recession, the top are still making gains while everyone else has seen declines. You have acknowledged this and blamed policy.

I don't blame the wealthy, they do what they are allowed......but this is only one aspect to the demand issue.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Primarily due to....a lack of well paying full time jobs.

Any solutions?

Reduce the barriers to creating them, and seek to increase the profit margin from doing so.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

And worse infrastructure and education would result in more jobs?

Perhaps a better way of saying it is:

"Would taking resources currently being allocated by the market, and shifting them to being allocated by politicians be likely to increase, or decrease the effectiveness of their allocation?"
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

LOL !

Who ? Krugman ?

Their listening to their left wing Political ideology and nothing else.

Because they're definitely NOT advocating something that will actually work.
A relevant and very informative poll:

Poll Results | IGM Forum

The idea is hardly a contentious one among those who actually study this stuff for a living :shrug:
 
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