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Thread: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by a351 View Post
    So wrong on multiple levels. Obama has not changed the way unemployment is calculated and we've never counted the entire jobless population as unemployed, and for good reason. The mere state of being jobless ( Stay at home moms, retirees, the physically disabled, college students, and so on) is not a barometer of the health of the labor market, whereas the ability of those who are actively seeking a wage to find one are.
    The Fed also understands that people who leave the labour force (for whatever reason) is an indication of labour market health as well.

    Because, contrary to popular belief, it's not good the labor force is shrinking or growing slowly because that disrupts potential economic growth. Granted, there are some good reasons why people leave the labour force. Given the current economic climate, these reasons become out of reach for many Americans.

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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by imagep View Post
    tea party fantasyland has different metrics than the rest of us use.
    Also known as Facts.
    "A man you can bait with a tweet is not a man we can trust with nuclear weapons." --Hillary Rodham Clinton
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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by imagep View Post
    What's wrong with leisure and hospitality jobs being created? Seems to me that if Americans are enjoying more leisure and hospitality, that shows an increase in our standard of living. Now if we had LOST those leisure and hospitality jobs, I would be very alarmed.
    Leisure and Hospitality jobs are low wage, low skill employment doesn't benefit economic growth. It benefits people like me, because I don't have a shortage of waiters who can take my order at Apple Bees. It doesn't benefit the people who are employed in these sectors because these are not the type of jobs people can build wealth, income or a significant standard of living. These jobs are usually used as a stepping stone, and there is very little room for upward mobility. The economy doesn't need more waiters and bartenders.

    And it's only natural that jobs are created in whatever sector needs more workers. What else would you expect?
    These jobs are not beneficial to overall wage growth nor economic growth. The idea of job creation is to create value, not work.

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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by WallStreetVixen View Post
    Leisure and Hospitality jobs are low wage, low skill employment doesn't benefit economic growth. It benefits people like me, because I don't have a shortage of waiters who can take my order at Apple Bees. It doesn't benefit the people who are employed in these sectors because these are not the type of jobs people can build wealth, income or a significant standard of living. These jobs are usually used as a stepping stone, and there is very little room for upward mobility. The economy doesn't need more waiters and bartenders.



    These jobs are not beneficial to overall wage growth nor economic growth. The idea of job creation is to create value, not work.
    ANY jobs benefit economic growth. Those people get jobs and then spend into our economy creating demand which results in jobs. Lot's of those jobs are fairly high paying. They aren't all maids and desk clerks, many are management positions and high skill level positions.
    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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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by TurtleDude View Post
    you can if you dry up government handouts to those who can
    You'll force more people to steal than you will work.
    If I blow the conch and they don't come back; then we've had it. We shan't keep the fire going. We'll be like animals. We'll never be rescued.

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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by Declan View Post
    You'll force more people to steal than you will work.
    those can be dealt with appropriately



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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by imagep View Post
    ANY jobs benefit economic growth. Those people get jobs and then spend into our economy creating demand which results in jobs.
    It's not that simple. The purpose of hiring is to increase productivity. That increases value, which translates into higher wages for the purpose of economic growth and demand. The problem with leisure and hospitality is that it doesn't create much value because it's a highly unproductive sector. And if you're not creating value then you're wasting resources. This becomes a net drain on the economy, because these resources can be used elsewhere in sectors that are productivity, while possibly creating higher paying jobs.

    I mean, the leisure and hospitality sector didn't become the lowest output sector by accident. If it wasn't for the goods producing sector of the economy, it would be the sector with the least economic output. As many employment gains as it received since the start of the recovery, it's unacceptable...

    http://www.bea.gov/iTable/iTableHtml...&5114=q&5102=5

    Lot's of those jobs are fairly high paying. They aren't all maids and desk clerks, many are management positions and high skill level positions.
    Hardly enough to offset the jobs created, which have mostly been low wage jobs.
    Last edited by WallStreetVixen; 03-06-15 at 11:33 PM.

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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by WallStreetVixen View Post
    It's not that simple. The purpose of hiring is to increase productivity. That increases value, which translates into higher wages for the purpose of economic growth and demand.
    The problem with leisure and hospitality is that it doesn't create much value because it's a highly unproductive sector. And if you're not creating value then you're wasting resources. This becomes a net drain on the economy, because these resources can be used elsewhere in sectors that are productivity, while possibly creating higher paying jobs.

    I mean, the leisure and hospitality sector didn't become the lowest output sector by accident. If it wasn't for the goods producing sector of the economy, it would be the sector with the least economic output. As many employment gains as it received since the start of the recovery, it's unacceptable...

    http://www.bea.gov/iTable/iTableHtml...&5114=q&5102=5



    Hardly enough to offset the jobs created, which have mostly been low wage jobs.
    I find it very hard to imagine a world without entertainment. I also find entertainment very productive and valuable. Why else do we pay movie stars and professional athletes and top musicians millions of dollars a year? You don't enjoy being able to go to a nice hotel?

    I think that we need all the jobs we can get. The more jobs we have, the more wealth we produce, REGARDLESS of the sector.

    Can you really make an argument that a dollar spent on good meal at your favorite eatery is any less productive than a dollar spent on a new pair of kicks, or a dollar spent on a tattoo or on some new mag wheels for your pimped up ride?

    The most productive dollar spent and the most productive job is in whatever sector there is enough demand to create more jobs and more dollars. Why would we want more jobs in sectors that don't need more workers?

    The only sectors that really create lasting value are research and construction. Nothing else does. Do you not value any jobs other than researchers and construction workers?
    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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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by imagep View Post
    I find it very hard to imagine a world without entertainment. I also find entertainment very productive and valuable. Why else do we pay movie stars and professional athletes and top musicians millions of dollars a year? You don't enjoy being able to go to a nice hotel?

    I think that we need all the jobs we can get. The more jobs we have, the more wealth we produce, REGARDLESS of the sector.

    Can you really make an argument that a dollar spent on good meal at your favorite eatery is any less productive than a dollar spent on a new pair of kicks, or a dollar spent on a tattoo or on some new mag wheels for your pimped up ride?

    The most productive dollar spent and the most productive job is in whatever sector there is enough demand to create more jobs and more dollars. Why would we want more jobs in sectors that don't need more workers?

    The only sectors that really create lasting value are research and construction. Nothing else does. Do you not value any jobs other than researchers and construction workers?
    I've never seen a study on it, but it raises an interesting question: would a dollar spent on something with a 3% profit margin result in different velocity than a dollar spent on something with a 20% profit margin.
    If I blow the conch and they don't come back; then we've had it. We shan't keep the fire going. We'll be like animals. We'll never be rescued.

  10. #150
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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by Declan View Post
    I've never seen a study on it, but it raises an interesting question: would a dollar spent on something with a 3% profit margin result in different velocity than a dollar spent on something with a 20% profit margin.
    In that sense, I don't think there really is a "profit margin", there is just "value created". Lot's of companies have a huge sales volume, but don't add much value thus they have a very low net profit to sales ratio.

    Like someone who deals in gold bullion may have a huge sales volume in terms of dollars, but he may only net $1 per $1200 in sales (less than 1/10th of 1%). Someone else may be a barber, who might net $200 out of $250 in sales resulting in a profit margin of 80%.

    Profit margins as a percent of sales don't really define the productivity of a company.

    At least that's my take on things.
    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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