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Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To 6.1

DA60

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'The Bureau of Labor Statistics released a significantly weaker than expected August jobs report Friday morning.

Employers added just 142,000 jobs last month, sharply lower than the 225,000 economists were anticipating and the smallest monthly gain of 2014. The unemployment rate, which is drawn from a different survey of households, dropped from 6.2% to 6.1%.

The July payroll number was revised up from plus 209,000 jobs to plus 212,000 but June’s count was revised down from 298,000 jobs added to 267,000. Total employment gains those months were therefore 28,000 lower than what BLS — a division of the Department of Labor — previously reported. Job growth has averaged 212,000 for the last twelve months.'


Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To 6.1% - Forbes


BTW, the unemployment rate dropped principally because the labor force participation rate dropped...again.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Aside from the monthly up and down game of new jobs and unemployment rate, the serious concern for me, and we have a similar problem in Canada but not nearly as bad, is the continued drop in the participation rate which bodes ill for sustainability of the social safety net relied upon by seniors. It's one reason why Canada welcomes upwards of 250,000 new economically contributing immigrants each year and why countries like Japan, with their laws against non-ethnic Japanese immigration, are going down the road towards serious economic stagnation and difficulty.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

As usual, if you look at the household data (which is different then the headline numbers), you get a more detailed picture.

http://www.bls.gov/news.release/empsit.nr0.htm

Table A-9. Selected employment indicators

http://www.bls.gov/news.release/empsit.b.htm


The household data says:

- only 16,000 more people were employed in August

- if you look at the full/part time totals, 127,000 more people were working full time, but 327,000 less people were working part time for a total of 200,000 less people were employed in August (I bet the White House won't be touting those numbers).

- since April, only 201,000 more people are employed full time...under 51,000 per month on average.

- manufacturing had 0 more people employed in August over July.


Anyone that thinks these are numbers indicative of a healthy economy do not, IMO, know what they are talking about.
 
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Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

i forgot that it was jobs report day. i will lift a toast tonight to the economy, which is doing awesome and horrible.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

i forgot that it was jobs report day. i will lift a toast tonight to the economy, which is doing awesome and horrible.
The only thing as dependable as the biased interpretations of the monthly jobs report is Helix's monthly quips about the biased interpretations of the jobs report. :)
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

In response to todays dismal jobs #s the LA Times said we should spend more on " infrastructure and education ".......

Wow.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

The only thing as dependable as the biased interpretations of the monthly jobs report is Helix's monthly quips about the biased interpretations of the jobs report. :)

i do admit that i enjoy the jobs report threads, and how interpretations of the data shift with the political winds.

and i would have gotten away with it, too, if it weren't for you meddling kids.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Rule of thumb in the current job market: When you see the Unemployment rate (UR) change look first at the participation rate (PR) for the explanation. If PR magnitude and direct match UR then most of the UR change is likely just the PR change.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

In response to todays dismal jobs #s the LA Times said we should spend more on " infrastructure and education ".......

Wow.
Of course....the solution is to cut govt spending further, what we need is less spending all around, which everyone knows creates employment.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

BTW, the unemployment rate dropped principally because the labor force participation rate dropped...again.
Primarily due to....a lack of well paying full time jobs.

Any solutions?
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Aside from the monthly up and down game of new jobs and unemployment rate, the serious concern for me, and we have a similar problem in Canada but not nearly as bad, is the continued drop in the participation rate which bodes ill for sustainability of the social safety net relied upon by seniors. It's one reason why Canada welcomes upwards of 250,000 new economically contributing immigrants each year and why countries like Japan, with their laws against non-ethnic Japanese immigration, are going down the road towards serious economic stagnation and difficulty.

Dead on.

And we love our "bright collar" tech-sector geniuses. I seriously doubt Canada's health care system could survive without well trained Asians, Filipinos, Indians, and Africans.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

'The Bureau of Labor Statistics released a significantly weaker than expected August jobs report Friday morning.

Employers added just 142,000 jobs last month, sharply lower than the 225,000 economists were anticipating and the smallest monthly gain of 2014. The unemployment rate, which is drawn from a different survey of households, dropped from 6.2% to 6.1%.

The July payroll number was revised up from plus 209,000 jobs to plus 212,000 but June’s count was revised down from 298,000 jobs added to 267,000. Total employment gains those months were therefore 28,000 lower than what BLS — a division of the Department of Labor — previously reported. Job growth has averaged 212,000 for the last twelve months.'


Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To 6.1% - Forbes


BTW, the unemployment rate dropped principally because the labor force participation rate dropped...again.



Wait, I am very confused here.

Whenever I mention the ill-state of the US economy, I get angry replies telling me the economy under Obama is better than ever and, well, he's fixed all that and anyway we are saved through Obamacare.

I am not a whiz at economics, but it strikes me that in a consumer society you need consumers to keep the whole thing going. If people don't have jobs, how do they have money to consume those Chinese made products?

Can someone explain to me how Obama has single handedly overcome a fundamental economic rule?
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Wait, I am very confused here.

Whenever I mention the ill-state of the US economy, I get angry replies telling me the economy under Obama is better than ever and, well, he's fixed all that and anyway we are saved through Obamacare.

I am not a whiz at economics, but it strikes me that in a consumer society you need consumers to keep the whole thing going. If people don't have jobs, how do they have money to consume those Chinese made products?

Can someone explain to me how Obama has single handedly overcome a fundamental economic rule?
Yawn, start with a false premise, throw in some economic ignorance and end with a rhetorical question.

Cute.

Hint: Since just about all monetary solutions have been applied, what fiscal solutions do you think the President could get through Congress that would have a real positive effect?
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Rule of thumb in the current job market: When you see the Unemployment rate (UR) change look first at the participation rate (PR) for the explanation. If PR magnitude and direct match UR then most of the UR change is likely just the PR change.

What the masses don't seem to realize is that you can theoretically have an unemployment rate of zero and have no more people employed then there are now.

It's government creative math, IMO.

Find ways to legally not count the unemployed and you magically lower the unemployment rate without anyone actually finding new jobs.

That is why I believe that the U-6 is a FAR more accurate measurement of the U.S. national employment situation then the U-3 (btw, the U-6 is currently 12.0%).

http://www.bls.gov/news.release/empsit.t15.htm
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

What the masses don't seem to realize is that you can theoretically have an unemployment rate of zero and have no more people employed then there are now.

It's government creative math, IMO.

Find ways to legally not count the unemployed and you magically lower the unemployment rate without anyone actually finding new jobs.

That is why I believe that the U-6 is a FAR more accurate measurement of the U.S. national employment situation then the U-3 (btw, the U-6 is currently 12.0%).

Table A-15. Alternative measures of labor underutilization
Ok...you are not interested in discussing solutions......just want to discuss statistical manipulation.

Sigh.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Wait, I am very confused here.

Whenever I mention the ill-state of the US economy, I get angry replies telling me the economy under Obama is better than ever and, well, he's fixed all that and anyway we are saved through Obamacare.

The U.S. economy is better of now than when Obama was both elected and sworn in as President. Does this fact bother you in any way?

I am not a whiz at economics, but it strikes me that in a consumer society you need consumers to keep the whole thing going. If people don't have jobs, how do they have money to consume those Chinese made products?

You speak as though the U.S. economy has been losing jobs!

fredgraph.png


Clearly this isn't the case. Does this bother you?

Can someone explain to me how Obama has single handedly overcome a fundamental economic rule?

Can someone explain exactly what it is you're trying to say?
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

What the masses don't seem to realize is that you can theoretically have an unemployment rate of zero and have no more people employed then there are now.

It's government creative math, IMO.

Find ways to legally not count the unemployed and you magically lower the unemployment rate without anyone actually finding new jobs.

That is why I believe that the U-6 is a FAR more accurate measurement of the U.S. national employment situation then the U-3 (btw, the U-6 is currently 12.0%).

Table A-15. Alternative measures of labor underutilization



Yeah, thanks, but that's been evident to me since the 70's and this country's attempt to skew the numbers. I didn't even mention a zero rate but ask how Obama and co can claim all is well when there are the unemployed they admit and twice as many off the rolls
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Wait, I am very confused here.

Whenever I mention the ill-state of the US economy, I get angry replies telling me the economy under Obama is better than ever and, well, he's fixed all that and anyway we are saved through Obamacare.

I am not a whiz at economics, but it strikes me that in a consumer society you need consumers to keep the whole thing going. If people don't have jobs, how do they have money to consume those Chinese made products?

Can someone explain to me how Obama has single handedly overcome a fundamental economic rule?

People as usual grossly overestimate what a president can do for the job market, especially when all possible initiatives are blocked by Congress. It's both unrealistic to praise the president for good job numbers as it is to bash him for bad job numbers.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

The U.S. economy is better of now than when Obama was both elected and sworn in as President. Does this fact bother you in any way?



You speak as though the U.S. economy has been losing jobs!

fredgraph.png


Clearly this isn't the case. Does this bother you?



Can someone explain exactly what it is you're trying to say?



Why always such attitude from Obamaland?

I don't believe the graph any more than anything else to come out of this administration.

And if you don't know what it is I am trying to say, don't expect "someone" to do your work for you.

Thanks for playing but I am really tired of the attitude.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

People as usual grossly overestimate what a president can do for the job market, especially when all possible initiatives are blocked by Congress. It's both unrealistic to praise the president for good job numbers as it is to bash him for bad job numbers.



That would include the president then. He has been claiming he's creating jobs, he forecast a truck load of jobs in the "hee, hee, shovel ready wasn't as shovel ready..."

So if he is so limited, was it hubris or incompetence that let him run his mouth?
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Why always such attitude from Obamaland?

I don't believe the graph any more than anything else to come out of this administration.

"There is no greater barrier to knowledge, no greater guarantee of absolute ignorance so great as contempt without prior investigation."
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

'The Bureau of Labor Statistics released a significantly weaker than expected August jobs report Friday morning.

Employers added just 142,000 jobs last month, sharply lower than the 225,000 economists were anticipating and the smallest monthly gain of 2014. The unemployment rate, which is drawn from a different survey of households, dropped from 6.2% to 6.1%.

The July payroll number was revised up from plus 209,000 jobs to plus 212,000 but June’s count was revised down from 298,000 jobs added to 267,000. Total employment gains those months were therefore 28,000 lower than what BLS — a division of the Department of Labor — previously reported. Job growth has averaged 212,000 for the last twelve months.'


Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To 6.1% - Forbes


BTW, the unemployment rate dropped principally because the labor force participation rate dropped...again.

How about comparing the overall picture, the jobs created per month?

President Term Begin End Plus/Minus Avg. annual rate

Bill Clinton D 1993–1997 109,726 121,233 +11,507 +2.52%
Bill Clinton D 1997–2001 121,231 132,466 +11,233 +2.24%
George W. Bush R 2001–2005 132,466 132,553 -13 -0.002%
George W. Bush R 2005–2009 132,553 133,631 +1,129 +0.21%
Barack Obama D 2009–2013 133,631 135,295 +1,536 +0.28%
Barack Obama D 2013–6/2014 135,295 138,941 +3,646 +1.80%

Gee, do we see a pattern here? I know this may come as a shock, but an average growth of 212K job per month is a heck of a lot better than what we had when the Republicans had the White House and both houses of Congress.

P.S., according to the table (which is drawn from BLS data), since the Great Depression, the greatest percentages of growth per annum in a single presidential term were achieved by:

FDR - 5.00%
FDR - 4.97%
LBJ - 3.90%
Carter - 3.06%
Truman - 2.93%
Reagan - 2.69%

In other words, the best the Republicans had got them in sixth place on the list.

No offense, guy, but when it comes to jobs, y'all have ZERO room to talk.
 
Re: Jobs Report: U.S. Economy Added Just 142,000 Jobs In August, Unemployment Down To

Why always such attitude from Obamaland?

Obamaland? I never stated an opinion about Obama in this thread. I simply pointed out some facts to a helplessly ill-informed individual.

I don't believe the graph any more than anything else to come out of this administration.

Unless we can find some negative information... Like this:

fredgraph.png


Its amazing how a bit of confirmation bridges the gap between belief and disbelief.
 
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