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Thread: U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

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    U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

    There seems to be a pattern forming here. But of course, the naysayers are going to deride this good news as well.

    U.S. Unemployment Falls to Lowest Level Since May 2008 - Bloomberg Business

    Payrolls rebounded in April following an even bigger setback a month earlier than previously estimated, a sign companies are confident the U.S. economy will reboot after stagnating early this year. The unemployment rate dropped to 5.4 percent.
    The 223,000 net increase in employment followed an 85,000 gain in March that was the smallest since June 2012, figures from the Labor Department showed Friday in Washington. The jobless rate fell to the lowest since May 2008 as more Americans entered the labor force and found work. Average hourly earnings climbed less than forecast.
    Construction and health care were among the industries that accelerated the pace of hiring last month as the economy emerged from temporary setbacks that included bad weather and a labor dispute at West Coast ports. Such job growth and steadily rising wages may keep the Federal Reserve on track to raise its benchmark interest rate later this year.

    “It is a respectable bounce -- anything 200,000 or higher is going to lead to further diminishment of slack in the labor market,” Kathy Bostjancic, a U.S. financial economist at Oxford Economics USA Inc. in New York, said before the report. The breakneck pace of hiring at the end of 2014 was “unhealthy and unsustainable, and going forward we expect more moderate gains, but still strong.”
    The median forecast in a Bloomberg survey of 96 economists called for a 228,000 advance, with estimates ranging from gains of 175,000 to 327,000. March was revised from a previously reported 126,000 advance. Revisions to prior reports subtracted a total of 39,000 jobs to overall payrolls in the previous two months.
    To calculate the data, the Labor Department surveys businesses for the pay period that includes the 12th of the month. The span between the agency’s April and March employment surveys was five weeks, rather than the typical four.

    Participation Rate


    The participation rate, which indicates the share of working-age people who are employed or looking for work, increased to 62.8 percent from 62.7 percent in March, which matched the lowest since 1978.
    Wage growth remains limited, with average hourly earnings rising 0.1 percent in April after a revised 0.2 percent gain that was weaker than initially reported. Compared with a year earlier, hourly pay was up 2.2 percent last month, less than the Bloomberg median estimate of 2.3 percent.
    The average work week for all employees held at 34.5 hours.
    Construction Employment

    Employment in health services increased 55,600 in April after a 30,600 gain the month before. Construction companies took on 45,000 workers in April, the most since January 2014.
    The slowdown tied to cheaper oil prices persisted in April. The mining industry, which includes oil extraction and services, lost 15,000 jobs last month, the most since May 2009.
    Fed Chair Janet Yellen and her colleagues will use the data to help them parse the strength of the economy as they consider raising interest rates for the first time since 2006. Officials, who dropped a promise in March to be patient on raising rates, say they can act at any policy meeting, beginning with their gathering on June 16-17. Most expect them to move later this year.

    Can someone in the right please concede that Obama is, and has been, GOOD for the economy?
    A man without fear is a fool, a man that succumbs to his fear is a coward and a brave man acknowledges fear yet presses on.
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    re: U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

    Good news, albeit the downward revisions for prior months. Hopefully the labor market will continue to regain momentum.

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    re: U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

    As usual, people read the headlines and little else...this was a fair at best (I would call it borderline lousy) jobs report.

    In the household data -

    - only 192,000 more people were employed AND March was revised downwards to just 34,000!?!
    - the 16-19 AND the 25-54 age ranges (the latter the backbone of the economy) both had less people employed in April.
    - there were 252,000 less Americans employed full time in April.

    - since January, there are only 61,000 more Americans employed full time...but 192,000 more who are part time.
    - and since January, there are less people employed in the important 35-54 age group (as usual since the 'recovery' began' - the over 55's get FAR AND AWAY most of the new employed).

    So, in April, there are over 1/4 million less Americans employed full time AND the most important age groups (25-54) show a net loss of employed.

    Employment Situation Summary Table A. Household data, seasonally adjusted

    Table A-9. Selected employment indicators


    Always look past the headlines.
    Last edited by DA60; 05-08-15 at 09:38 AM.

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    re: U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

    Quote Originally Posted by Tettsuo View Post
    There seems to be a pattern forming here. But of course, the naysayers are going to deride this good news as well.

    U.S. Unemployment Falls to Lowest Level Since May 2008 - Bloomberg Business

    [/FONT][/COLOR]
    Can someone in the right please concede that Obama is, and has been, GOOD for the economy?
    I think this is very good news. But what specific Obama policy brought unemployment down? How is this attributable to him?
    Horse sense is the thing a horse has which keeps it from betting on people. ~W.C. Fields

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    re: U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

    Quote Originally Posted by tres borrachos View Post
    I think this is very good news.
    Yay! We agree.
    A man without fear is a fool, a man that succumbs to his fear is a coward and a brave man acknowledges fear yet presses on.
    http://soulinblackandwhite.blogspot.com/

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    re: U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

    Quote Originally Posted by Tettsuo View Post
    Yay! We agree.
    Who in this country would think that unemployment dropping is bad news?
    Horse sense is the thing a horse has which keeps it from betting on people. ~W.C. Fields

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    re: U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

    Quote Originally Posted by Tettsuo View Post
    There seems to be a pattern forming here. But of course, the naysayers are going to deride this good news as well.

    Can someone in the right please concede that Obama is, and has been, GOOD for the economy?
    I'd love to. Perhaps you could list some of the economy boosting legislative and/or regulatory initiatives President Obama has pushed for and championed that show how good he's been for the economy so I could concede your point. Otherwise, you're just blowing smoke.
    A Canadian conservative is one who believes in limited government and that the government should stay out of our wallets and out of our bedrooms.

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    re: U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

    Quote Originally Posted by tres borrachos View Post
    Who in this country would think that unemployment dropping is bad news?
    The U-3 (the official 'unemployment rate') means almost nothing, imo.

    You do realize that the U-3 could theoretically be almost zero even though NO ONE is employed?

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    re: U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

    Quote Originally Posted by tres borrachos View Post
    Who in this country would think that unemployment dropping is bad news?
    People with a disease called Obama-hate-itis.
    A man without fear is a fool, a man that succumbs to his fear is a coward and a brave man acknowledges fear yet presses on.
    http://soulinblackandwhite.blogspot.com/

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    re: U.S. Unemployment Falls to Lowest Level Since May 2008[W:489, 497]

    32 “Whoever acknowledges me before others, I will also acknowledge before my Father in heaven. 33 But whoever disowns me before others, I will disown before my Father in heaven.
    Matt. 10:32-33

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