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Thread: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.6%

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    Re: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.

    Quote Originally Posted by upsideguy View Post
    Fair enough. The components of Not in the Work Force, cross-referenced to source. You will note that 90M of the number (almost 99%) is explained by items that generally show economic strength, not weakness.

    Attachment 67178855

    or http://www.ssa.gov/policy/docs/quick...ot/2014-11.pdf

    You should be careful of anecdotal information. You can always find exceptions to rules/trends. On a local level, those exceptions can actually be the rule...
    Anecdotally, I can tell you that I started a business near the beginning of this recession.... I have a much, much tougher problem hiring now than I did in 2010; I have had to pay more and still have increasing problems. Though my jobs are lower wage (about 30% above minimum).... I am not hiring immigrants (illegal or legal)....but, that is a data point of one.
    Why aren't you paying a "living wage"?
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    Re: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.

    Quote Originally Posted by leoborn View Post
    No one I know believes those numbers anyway. People aren't that stupid!
    Oh the irony!
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    Re: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.

    Quote Originally Posted by upsideguy View Post
    Fair enough. The components of Not in the Work Force, cross-referenced to source. You will note that 90M of the number (almost 99%) is explained by items that generally show economic strength, not weakness.

    Attachment 67178855 No

    or http://www.ssa.gov/policy/docs/quick...ot/2014-11.pdf

    You should be careful of anecdotal information.
    Your data are not applicable, as many of the full time students do work or are UN err employed. And many of the elderly are in retirement homes or assisted living facilities. Your comparing different universes.

    Labor Force information for students can be found at A-16. Employment status of the civilian noninstitutional population 16 to 24 years of age by school enrollment, age, sex, race, Hispanic or Latino ethnicity, and educational attainment
    And over 65 and disability status is a thttp://www.bls.gov/news.release/empsit.t06.htm
    Therefore, since the world has still/Much good, but much less good than ill,
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    Re: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.

    Quote Originally Posted by Anthony60 View Post
    We need a certain amount of job growth just to keep up with population growth.
    Speaking of which, how much did the population grow in 2014?

    We do know that in 2014, job growth was at its highest level since the Clinton administration:



    2.952 million jobs were created in 2014.
    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: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.

    Quote Originally Posted by Kushinator View Post
    Speaking of which, how much did the population grow in 2014?

    We do know that in 2014, job growth was at its highest level since the Clinton administration:



    2.952 million jobs were created in 2014.
    And how much of that was part-time, low wage jobs?
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    Re: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.

    Quote Originally Posted by a351 View Post
    Employment Situation Summary

    Another strong month of gains to cap off 2014. This, in addition to the positive revisions for the previous two months make it the strongest year of job growth since 1999. While some indicators did trend down during the month, the year as a whole was an undoubtedly positive one for the US economy.
    So starting to get back to normal values, after how long?
    You know the time is right to take control, we gotta take offense against the status quo

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    Re: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.

    Quote Originally Posted by Anthony60 View Post
    And how much of that was part-time, low wage jobs?
    According to the BLS, there are 62000 less part time jobs than there were a year ago. .
    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: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.

    Quote Originally Posted by Ikari View Post
    So starting to get back to normal values, after how long?
    Hiring began to stabilize in 2012. Look at the trough:

    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: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.

    Quote Originally Posted by j-mac View Post
    Why aren't you paying a "living wage"?
    The economics of the business are what they are.... I do not get to set prices above the prevailing market and people are willing to work for the wage we offer (though we pay at the upper end of market). We just suffer from margin compression in a strong economy..

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    Re: Payroll employment rises by 252,000 in December; unemployment rate declines to 5.

    Quote Originally Posted by pinqy View Post
    Your data are not applicable, as many of the full time students do work or are UN err employed. And many of the elderly are in retirement homes or assisted living facilities. Your comparing different universes.

    Labor Force information for students can be found at A-16. Employment status of the civilian noninstitutional population 16 to 24 years of age by school enrollment, age, sex, race, Hispanic or Latino ethnicity, and educational attainment
    And over 65 and disability status is a thttp://www.bls.gov/news.release/empsit.t06.htm
    I not certain what the living arrangements of seniors has to do with anything, unless you wrongly believe that living in an assisted living qualifies as being in an institution. An assisted living is a residential option, not an institution.

    So your BLS table refutes 7.8M of the 22M students, suggesting that 7.8M are indeed in the work force, but the other 14.2M are not. So, other than taking issue with 7.8M of my 90M number, you really haven't offered much in the way of refinement of the composition of Not in Labor Force. Until you have a better set of numbers, it stands. So, we still have more than 90% of NILF explained by something the reflects positively on the economy: that is the people can afford to retire, be stay at home moms or go to school without having to work.

    One of the biggest components of NILF are persons that are entrepreneurs / free lance consultants. I, for one, am not in the labor force as I have no job. I do own a business that employs 80 persons, who are in the labor force. Though I have my moments of discouragement in owning a business, I am not considered a worker, unemployed or discouraged worker. I am an example of one, but there are millions like me.

    According to the BLS, 90% (87M of the 93M) of the NILF are not interested in a job....

    http://www.bls.gov/web/empsit/cpseea..._eande_m38.f.1

    ... because they are retired, stay at home moms or other family issues, disabled or students...

    http://www.bls.gov/cps/lfcharacteristics.htm#nlf
    Last edited by upsideguy; 01-15-15 at 12:42 AM.

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