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Thread: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

  1. #41
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    Re: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

    Quote Originally Posted by imagep View Post
    Not neccessarally.

    When was the last time that incomes started exceeding productivity?
    Have a look:

    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: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

    Quote Originally Posted by imagep View Post
    Not at all. This time, we didn't have people dropping out of the labor force, we actually had people getting jobs. You should read the report.
    Ummm the labor force decreased by 97,000
    Total employed went up 232,000
    Unemployed went down 329,000
    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: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

    Quote Originally Posted by Erod View Post
    When was the last time bad unemployment news came out before an election?
    The last time the economy was still in a slump?

    September jobs report: Payrolls down, unemployment unchanged - Oct. 8, 2010

    Books cooked.
    Reality denied.

  4. #44
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    Re: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

    Quote Originally Posted by pinqy View Post
    It's been declining since 2000. But why do you think that's a problem?
    Quote Originally Posted by Taylor View Post
    Roflmao, not at this rate.


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    Re: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

    Quote Originally Posted by Kushinator View Post
    Yeah, it couldn't have anything to do with a stronger overall economy, higher profit margins for employers, increased private domestic investment, etc....
    Just 24 hours ago the DOW dropped 130 points before it corrected itself. Parts of Europe are in deflation, growth worries continue in China, and Islamic extremists have added a new layer of instability to the Middle East. I don't see any huge increase in private domestic investment. Most buying are companies buying back their own stock. a neat trick to top corporate executives whose compensation is tied to the performance of the company’s stock, but it does little to help a nation struggling from the aftermath of the crash in 2008. Nope, I'm more inclined to believe when the spigot was shut off on unemployment benefits people started taking any job they could find. Funny how that works.

  6. #46
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    Re: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

    Quote Originally Posted by Taylor View Post
    Roflmao, not at this rate.
    So?

    You aren't aware that baby boomers are now retiring? The youngest baby boomers started retiring in 2009 with reduced ss benefits, and started retiring in mass with full benefits in 2011 or 2012. What's surprising is that the lfpr stopped declining almost a year ago - I expect this leveling off of the lfpr is a temporary thing.

    This decline in the lfpr was projected decades ago. We even changed our ss tax rates in the early 1980s to accomidate for it. It should have surprised no one.

    It's not an Obama issue, or even an economic one, it's an age demographic thing.
    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.

  7. #47
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    Re: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

    As per usual, the media look at the headline numbers and do not (for the most part) do their homework and look under the surface.

    This is actually a fair report at BEST (I personally think it was a bad but not terrible report)...and typical of the Obama/Fed recovery (the Mercedes/McDonald's recovery)

    (All these numbers are from the household survey)

    Of the 232,000 more people employed in September,

    - a whopping 230,000 are over 55!


    - 45,000 were teenagers (16-19)

    How did the rest do? Lousy.

    - 20-24 years old went DOWN 72,000

    - the all important 25-54 went DOWN 10,000

    So all of the newly employed are either teenagers or over 55. The 20-54 age range had 82,000 less people employed.

    Plus (or minus in this case), the average hourly wage dropped by a penny.

    Table A-9. Selected employment indicators

    Employment Situation Summary Table B. Establishment data, seasonally adjusted

    So, basically, the less of the prime money making Americans are working and more of the lower wage, McDonald's/Walmart-type positions opened up.

    Once again, the Mercedes/McDonald's recovery is in full swing (where the rich get richer and the middle class give up there solid jobs to work at McDonald's).

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    Re: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

    The headline in the OP says it all.Hiring Surge Pushes U.S. Jobless Rate to Six-Year Low of 5.9% - Bloomberg At this point in out failing economy you want to see unemployment numbers go up not down. That would mean people who had dropped out of the job market had decided to start looking for work again because they could see the economy improving. Instead what we see is even less people looking for work. The participation rate fell at least as much or more than the unemployment rate so unfortunately the unemployment rate numbers are worthless. This is the "new norm". This is OB changing America.

  9. #49
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    Re: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

    Quote Originally Posted by vesper View Post
    I don't see any huge increase in private domestic investment. Most buying are companies buying back their own stock. a neat trick to top corporate executives whose compensation is tied to the performance of the company’s stock, but it does little to help a nation struggling from the aftermath of the crash in 2008.
    I cannot comment on your myopic take of reality:



    Nope, I'm more inclined to believe when the spigot was shut off on unemployment benefits people started taking any job they could find. Funny how that works.
    A politically convenient belief does not translate into accuracy.
    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

  10. #50
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    Re: Jobless Rate in US Falls to 5.9% in September, Payrolls Jump

    Quote Originally Posted by Kushinator View Post
    Have a look:

    Sorry, I don't know nearly as much about economics as you do, you are going to have to explain to me what that chart has to do with increases in income exceeding increases in employment and that resulting in driving inflation.

    I don't see anything about income or employment or inflation on that graph.
    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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