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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 imagep View Post
    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.
    I would assume that a 3% profit margin would suggest 97% went into its productivity but a 20% only had 80% in which would suggest item 1 could create 17% more productivity. not sure.
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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?
    It's not just the entertainment industry or hotels, which is essentially the fast food industry, in addition to the waiters and bartenders. These are the bulk of jobs in this industry. Hollywood is practically a blip on the radar compared to these types of jobs.

    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?
    Yes, because it's not always about the dollar I spend. The dollar I spend means nothing if that dollar goes to a firm that is not using its productive capacity in an efficient way. Jobs need to be highly productive and create value. If they don't, you'll either see 1) a cut in hours (which is actually occurring in the leisure and hospitality sector) or 2) a reduction in employment. When this happens, it means that employers are wasting resources and need to trim the fat somewhere. The only way to prevent scenario number 2 from happening is for consistently high earnings. This only helps in the short term, because in the long term earnings will fall, due to cyclical reasons, lack of sales or whatever excuse employers will come up with. What do you think will occur once this happens?

    Considering this, it's not a good thing to have lots of employment in low productive sector because it doesn't help anyone in the long run.

    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?
    There are plenty of jobs besides construction and research that create lasting value. Education, health, finance, information technology, manufacturing, professional/technical services etc etc. The economy increasingly needs more of these jobs.

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

    Quote Originally Posted by Khayembii Communique View Post
    Here is the problem with people complaining that the unemployment rate is some kind of "ruse": there is no better way to measure unemployment.

    Secondly, LFPR has been flat/decreasing for the past fifteen years. How many of these are people that want to work but can't? None of them. If they wanted to work but couldn't, they would be considered unemployed.
    Well just wait for 2 years. When the GOP is back in the WH, the unemployment rate will be absolute gospel to the same people bitching about it now.


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

    Btw, that 295,000 more Americans employed number is NOT just businesses reporting in. A large percentage of it is BLS estimates.

    The Birth Death model 'To account for this net birth/death portion of total employment, BLS uses an estimation procedure'.

    And, this month, 132,000 of the 295,000 number came from the BLS's Birth Death estimate.

    http://www.bls.gov/web/empsit/cesbd.htm

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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.
    Did you intend to post a link that contradicts what you wrote?

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

    Quote Originally Posted by WallStreetVixen View Post
    ...
    There are plenty of jobs besides construction and research that create lasting value. Education, health, finance, information technology, manufacturing, professional/technical services etc etc. The economy increasingly needs more of these jobs.

    The only things we create that is of long term lasting value is land improvement and possibly education and research. Everything else is pretty much temporary. We use up what we manufacture.
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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by SlevinKelevra View Post
    Did you intend to post a link that contradicts what you wrote?
    There's no contradiction. You clearly don't understand what you're reading.

    Leisure and hospitality in the bls is the same as the arts, entertainment, recreation, accommodation, and food services sector in the bea. That has an output of 3.8% quarter over quarter. The only industry with lower output besides warehousing is the good producing industry, which is mining, manufacturing and argiculture, which an average output of 1%. That is what I said, that is what the data shows, which means everything I said is correct.

    Now if you're looking at sub sectors within the industry, which is probably where your confusion lies, that is statistically invalid.

    Let me know which part of this you don't undetstand.
    Last edited by WallStreetVixen; 03-07-15 at 11:36 AM.

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

    Quote Originally Posted by WallStreetVixen View Post
    There's no contradiction. You clearly don't understand what you're reading.

    Leisure and hospitality in the bls is the same as the arts, entertainment, recreation, accommodation, and food services sector in the bea. That has an output of 3.8% quarter over quarter. The only industry with lower output besides warehousing is the good producing industry, which is mining, manufacturing and argiculture, which an average output of 1%. That is what I said, that is what the data shows, which means everything I said is correct.

    Now if you're looking at sectors and not industries, which is probably where your confusion lies, that is statistically invalid.

    Let me know which part of this you don't undetstand.
    ignoring that you don't seem to understand how the Venn space of sector and industry work,

    so your argument is that

    3.7 > 3.8?

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

    Quote Originally Posted by SlevinKelevra View Post
    ignoring that you don't seem to understand how the Venn space of sector and industry work,

    so your argument is that

    3.7 > 3.8?
    No it isn't, but that's exactly why I'm not wrong.

    What sector that isn't part of goods producing that has lower GDP output than leisure and hospitality?

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

    Since the liberals have a made it comfortable to ride the entitlement deadbeat-wagon, more Americans are doing just that rather than working,......ie so the jobless rate drops. Do you REALLY think that is a benefit to society? The job participation rate is at a 40 plus year low, it is even worse for women and minorities, food stamps, welfare and all the other entitlements have historical high usage, both in numbers and percentage of population. Is that REALLY progress in the mind of a progressive grubercrat?
    The Gruber-crat is strong in this one!

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