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Thread: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

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    Re: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

    Quote Originally Posted by Kushinator View Post
    Fact: Obama has presided over the second largest bull market in U.S. history. Want to take a guess what president presided over no.1?

    president trumps america is already improvin the disaster from obama hussien. stock market goes up an insane amount the day trump won lol

    lol at obama

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    Re: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

    Quote Originally Posted by JasperL View Post
    He did a 'great job' as opposed to who?

    Attachment 67212057
    I'm not sure what you're asking. Are you suggesting that we are not sliding into a part time **** job **** pay economy?
    "Half full or half empty doesn't matter. What matters is, you've only got half a glass...so what are you going to do about it?" - Me
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    Re: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

    Quote Originally Posted by Visbek View Post
    My impression is that there probably are still people sitting on the sidelines, hoping for work. What is probably happening is that there is a skills and geography mismatch.

    E.g. there are a fair number of low-skilled workers who had better job opportunities 10 or 20 years ago, whose jobs were largely automated out of existence and, to a lesser extent, offshored. No amount of nostalgic Tweets will bring those jobs back. So those people likely want jobs, but don't have the skills needed to fill the better-paying jobs we do need, or aren't interested in that type of work (e.g. taking care of the elderly).

    I also have a feeling there's a geographical mismatch. Better jobs just aren't available in areas like the Rust Belt, and most of the sideliners may not have the ability or resources to move somewhere -- especially if they don't have social networks there, and don't know where the jobs are. Sometimes people can move, but it's difficult if you have a family, have kids, don't have much job security, have a mortgage on a house that is underwater or hasn't appreciated much.
    This is my assessment as well. I know there's been some limited success getting people retrained and relocated in some parts of mining country that are dying towns, but there are places all over this country that have no prospects. I think we are simultaneously going to have huge areas of economically depression and high unemployment and also areas where there is huge competition for labor and rising wages. It's unlikely Trump's policies can fix that.

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    Re: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

    Quote Originally Posted by 11Bravo View Post
    president trumps america is already improvin the disaster from obama hussien. stock market goes up an insane amount the day trump won lol
    The stock market is up over 200% during the Obama administration. By your own admission, this is as far from a disaster as could be.
    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.
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    Re: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

    Quote Originally Posted by Ontologuy View Post
    But why is Sears and K-Mart -- cheap-price stores -- closing so many stores if there are supposedly so many employed Americans with money to spend?

    And why is Macy's -- medium-price stores -- closing so many of their stores now if there are supposedly so many employed Americans with money to spend?
    Because buying habits and preferences have changed and sales at many department stores have been dropping for a while. That one segment of the economy is failing. The category of "general merchandise stores" lost 29 thousand jobs last month.


    Could it be that the vast majority of the new jobs under Obama paid considerably less money than the old job the person previously had?
    If that were the case, then we would see average weekly wages going down (due to lower pay and fewer hours). Let's check:


    Huh. gone up, so I would say no, it could not be that the vast majority of the new jobs under Obama paid considerably less money than the old job the person previously had.


    Could it be that the vast majority of the new jobs under Obama were .. wait for it .. .. part-time jobs?
    Let's check:

    Total employment went from 142,152,000 to 152,111,000. Change of +9,595,000
    Usually work full time went from 115,818,000 to 124,248,000 Change of +8,430,000
    Usually work part time went from 26,377,000 to 27,895,000 Change of +1,518,000

    So I think no, it could not be that the vast majority of the new jobs under Obama were part-time jobs?
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

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    Re: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

    Quote Originally Posted by Visbek View Post
    My impression is that there probably are still people sitting on the sidelines, hoping for work. What is probably happening is that there is a skills and geography mismatch.

    E.g. there are a fair number of low-skilled workers who had better job opportunities 10 or 20 years ago, whose jobs were largely automated out of existence and, to a lesser extent, offshored. No amount of nostalgic Tweets will bring those jobs back. So those people likely want jobs, but don't have the skills needed to fill the better-paying jobs we do need, or aren't interested in that type of work (e.g. taking care of the elderly).
    I think you're over-inflating the effects of automation and down-playing the effects of off-shoring. Zero jobs happen when it's off-shored but even a 50% reduction in the work force, due to automation, means there is still 50% remaining.

    Who do you think is working in all those factories in China? China's GDP growth is 7%, and that's based off of manufacturing so this talk of manufacturing not being a valid driver for the economy anymore falls flat.
    Quote Originally Posted by Removable Mind View Post
    There is no such thing as right to life...for any stage of human life.

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    Re: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

    Quote Originally Posted by KevinKohler View Post
    I'm not sure what you're asking. Are you suggesting that we are not sliding into a part time **** job **** pay economy?
    Not really, just suggesting that blaming it on Obama might be misplaced or at least incomplete. I don't honestly know what the answer is but I don't see any from the GOP, who are opposed to unions, the recent changes in overtime pay for "managers", opposed to minimum wage increases, supportive of 'free trade' agreements, and generally opposed to programs like EBT, 'welfare', the ACA or something like the ACA to mitigate the problems of having low wage jobs without benefits. So I'm not really sure what Obama should have done that would have gotten through the GOP House or survived a filibuster in the Senate. Maybe Trump will turn the tide - I hope he does - but I'm not optimistic given his cabinet appointments.

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    Re: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

    Quote Originally Posted by Kushinator View Post
    I am just wondering where all the Trump supporters are. But when you think about it, picking and choosing what aspects of reality to which they adhere is their specialty.
    What about people who just don't like Obama's or liberal policies and their utter manipulation of reality and figures?

    https://www.nytimes.com/2014/04/28/b...paid-ones.html
    Quote Originally Posted by Removable Mind View Post
    There is no such thing as right to life...for any stage of human life.

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    Re: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

    Quote Originally Posted by Fishking View Post
    What about people who just don't like Obama's or liberal policies and their utter manipulation of reality and figures?

    https://www.nytimes.com/2014/04/28/b...paid-ones.html
    ummm how are you getting any, let alone "utter," manipulation of reality and figures from that article?
    An why do think an article from April 2014 is relevant in January 2017?
    Therefore, since the world has still/Much good, but much less good than ill,
    And while the sun and moon endure/Luck's a chance, but trouble's sure,
    I'd face it as a wise man would,/And train for ill and not for good.

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    Re: Economists React to the December Jobs Report: ‘Very Close to Full Employment’ WSJ

    Quote Originally Posted by Kushinator View Post
    The stock market is up over 200% during the Obama administration. By your own admission, this is as far from a disaster as could be.
    lol trumps winnin the election made everyone happy and the stock market skyrockets. trump aint even in yet and hes already better than obama hussien.

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