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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
    Exactly what have republicans done to lower the unemployment rate?

    I don't think that we should be thanking anyone other than the American economy.
    I was being facetious. Obama has done nothing to lower the unemployment rate, but people love to pretend he does.

    The American economy has good bones - it always did. The fundamentals of the economy are strong, as John McCain correctly said in 2008. People laughed at him then and scoffed at his words. He was correct.
    Horse sense is the thing a horse has which keeps it from betting on people. ~W.C. Fields

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

    Quote Originally Posted by tres borrachos View Post
    Maybe it's the Republican controlled Congress that we should be thanking in addition to President Obama.
    Nope. On the day Obama was inaugurated the GOP held a meeting where they promised opposition to Obama's economic policies, and they stuck to it. 8 days later the House Republicans voted a unanimous no to Obama’s economic stimulus plan.

    Even though millions of people were losing their jobs and homes the GOP put politics and party ahead of those people and did all they could to hinder economic growth. So to hell with them.
    "Big or small, I don't like rabbits. They always look like they're about to say something, but they never do."
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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    Quote Originally Posted by Helix View Post
    i forgot that it was jobs report Friday.

    let the celebrating begin!

    or

    DEBUNK-O-RAMA!!!!!!!!!!!!11111111111ONEONEONEONEONE

    With a few gratuitous Grubers thrown in!


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
    Quote Originally Posted by Oborosen View Post
    Too bad we have to observe human rights.

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

    Quote Originally Posted by SenorXm/Sirius View Post
    Nope. On the day Obama was inaugurated the GOP held a meeting where they promised opposition to Obama's economic policies, and they stuck to it. 8 days later the House Republicans voted a unanimous no to Obama’s economic stimulus plan.

    Even though millions of people were losing their jobs and homes the GOP put politics and party ahead of those people and did all they could to hinder economic growth. So to hell with them.
    It's as partisan to credit Obama for this as it would be to credit the GOP controlled Congress. That was the point of my post. And the stimulus isn't the reason that the economy has rebounded. The economy is the reason the economy has rebounded. It has nothing to do with our government - including Obama. The economy of this country was bound to turn around to pre-2008 unemployment rates. And we did - 7 years later.
    Horse sense is the thing a horse has which keeps it from betting on people. ~W.C. Fields

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

    Quote Originally Posted by rocket88 View Post
    With a few gratuitous Grubers thrown in!
    Are people still trying to force that into a thing?

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

    Quote Originally Posted by ToastyOats View Post
    Are people still trying to force that into a thing?
    You better believe it. Never let a talking point go to waste.


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
    Quote Originally Posted by Oborosen View Post
    Too bad we have to observe human rights.

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

    Quote Originally Posted by tres borrachos View Post
    It's as partisan to credit Obama for this as it would be to credit the GOP controlled Congress. That was the point of my post. And the stimulus isn't the reason that the economy has rebounded. The economy is the reason the economy has rebounded. It has nothing to do with our government - including Obama. The economy of this country was bound to turn around to pre-2008 unemployment rates. And we did - 7 years later.
    Actually a president does get too much credit when the economy is good, and too much blame when it's bad. But still I will never forgive the GOP for what the pulled in 2009.
    "Big or small, I don't like rabbits. They always look like they're about to say something, but they never do."
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    Re: Payrolls Climb More Than Forecast, U.S. Jobless Rate at 5.5%

    From the exact same report...

    • The lack of "wage rate growth" remains a concern for investors and the Fed.
    • Despite a prolonged surge in hiring, the wages of U.S. workers still are not growing very fast. Hourly wages rose $0.03 cents, or less than 0.1% to $24.78. This is a disappointment after a sharp 0.5% uptick in January, that was primarily boosted a number of states raising their minimum wage.
    • The percentage of Americans in the labor force, meanwhile, continued to hover near the lowest level since the late 1970s. Labor-force participation rate fell a notch to 62.8% in February.
    • Manufacturers created 9,000 new jobs, the smallest amount in 18 months. A stronger dollar and weak global growth has curtailed demand for American-made goods. Exports fell 2.9% in January, marking the third decline in a row.
    • Slight increase to 17.5 million Americans who want full-time work and cannot find a job, or have gotten too discouraged to look, or can only obtain part-time positions. If they are taken into account, the nation’s unemployment rate is actually a much higher 11%. While down from 11.3% from the prior month, conditions are still much higher than the official unemployment rate.


    Obama does not get to claim all credit for the good parts, then turn around and ignore the underline numbers.
    "Every time something really bad happens, people cry out for safety, and the government answers by taking rights away from good people." - Penn Jillette.

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

    Quote Originally Posted by Crovax View Post


    This pretty much tells the whole story.
    No, it really doesn't.

    To start with, your graph starts after the peak of labor force participation, and obscures how the peak was in 2001, years before the recession started.



    (This chart is a bit out of date, but LFP has been flat for a little bit.)


    Your selective chart obscures the differences by gender. Men have been slowly dropping out of the workforce for decades, offset by women joining the workforce. Women started dropping out in 2001, hence the overall drop.




    It also doesn't explain why LFP is dropping. The reasons are:
    More people are spending more time in school
    Boomers are starting to retire (a bigger effect in the past ~5 years
    Disability is going up
    And yes, some of it is discouraged workers, but certainly not all of it

    We should also note that when discouraged workers try to re-enter the workforce, they get included in the official unemployment rates.


    The excuse of the baby boomer retirement has passed since a big chunk of baby boomers are older than 65 and they would not be included in the rate working or not.
    No, they aren't. Boomers are currently aged 51 to 69. Most are not yet collecting SS. Many, including some who collect SS, are still currently in the workforce. And if they are looking for work, even if they are over 65, they're included in unemployment statistics.

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

    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.
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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