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Thread: US has 501,000 fewer jobs than first reported

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    Re: US has 501,000 fewer jobs than first reported

    All things considering, if this is true, that's not bad. It actually proves the Trump economy is far better than Obama's.

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    Re: US has 501,000 fewer jobs than first reported

    Quote Originally Posted by Cougarbear View Post
    The idea of "average" when comparing numbers to Obama, the situations were completely different. Obama inherited a recession when the job market was way down. So, it makes sense that without Obama helping, which he didn't, the capitalist economy fought back on its own in spite of Obama's job killing tax increases and out of control regulations. Trump took an economy that wasn't in a recession and job unemployment had come down but not to Obama's programs and has exploded employment and increase in incomes with blacks, hispanics, Jews, women, LGBTQ, teenagers and so on. Trump has done this with his tax cuts which the last study by liberals shows 99% of Americans who pay taxes got a tax decrease. And, he's done this with slashing regulations and a Democrat Congress who won't do a thing to help. In fact, Democrats now are hoping for a recession.
    So is the idea that you're just going to go "full Trump" and make up stuff without regard to the facts? If that's the idea, you've done a masterful job.

    For starters, Obama cut taxes in the early days of the recession, versus raise them. Etc....

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    Re: US has 501,000 fewer jobs than first reported

    Quote Originally Posted by ajn678 View Post
    This is common practice in every report. They always go back and lower it afterwards. Trump being president or not.
    Revisions this big are not in fact common. And they don't always lower them.

    E.g. https://projects.fivethirtyeight.com...-unemployment/

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    Re: US has 501,000 fewer jobs than first reported

    Quote Originally Posted by JasperL View Post
    So is the idea that you're just going to go "full Trump" and make up stuff without regard to the facts? If that's the idea, you've done a masterful job.

    For starters, Obama cut taxes in the early days of the recession, versus raise them. Etc....
    He also cut taxes well after the recession was over by renewing the Bush tax cuts for most individuals.

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    Re: US has 501,000 fewer jobs than first reported

    Quote Originally Posted by swing_voter View Post
    So all this is a lie?

    National Unemployment Rate at 3.7% Through July 2019
    Approximately 164,000 jobs were created in July 2019, and the national unemployment rate remained at 3.7%, according to the Bureau of Labor Statistics. Employment increased in professional and technical services, health care, social assistance, and financial activities.

    National Employment Monthly Update.
    No. It is a compilation of data, with a degree of uncertainty based upon the sample size and other factors.

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    Re: US has 501,000 fewer jobs than first reported

    Quote Originally Posted by Cougarbear View Post
    The idea of "average" when comparing numbers to Obama, the situations were completely different. Obama inherited a recession when the job market was way down. So, it makes sense that without Obama helping, which he didn't, the capitalist economy fought back on its own in spite of Obama's job killing tax increases and out of control regulations. Trump took an economy that wasn't in a recession and job unemployment had come down but not to Obama's programs and has exploded employment and increase in incomes with blacks, hispanics, Jews, women, LGBTQ, teenagers and so on. Trump has done this with his tax cuts which the last study by liberals shows 99% of Americans who pay taxes got a tax decrease. And, he's done this with slashing regulations and a Democrat Congress who won't do a thing to help. In fact, Democrats now are hoping for a recession.
    Actually the economy was doing quite well in the last 2 years of Obama. So well that Obama created more jobs in his last 2 years than Trump did in his first 2. So where is this great booming economy with 2.3% growth this year as estimated by the CBO? I keep hearing about it but when asked they all come up empty. So where is it?

    In CBO’s projections, federal budget deficits remain large by historical standards, and federal debt grows to equal 95 percent of GDP by 2029. Economic growth is expected to slow from 2.3 percent in 2019 to a rate that is below its long-run historical average.
    An Update to the Budget and Economic Outlook: 2019 to 2029 | Congressional Budget Office

    In terms of job creation, they're not as good. The much-heralded jobs number for April was indeed welcome. It brought the average number of jobs created during the 28-month Trump presidency to 202,000 a month. But in Obama's last 28 months, job growth averaged 220,000 a month. In 2014, he could have bragged of an average 251,000 a month but didn't.

    To soundtrack to the news of 3.2 percent economic growth for the first quarter, Trump activated the nation's marching bands. Under Obama, however, the quarterly gross national product quietly surpassed 3 percent growth eight times. In four of the quarters, it rose 4 percent or better.
    Trump's Economy Is Strong. Obama's Was Better | RealClearPolitics
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    Re: US has 501,000 fewer jobs than first reported

    Quote Originally Posted by washunut View Post
    He also cut taxes well after the recession was over by renewing the Bush tax cuts for most individuals.
    I guess. The deal worked out with the GOP was to let only some of the higher end tax cuts expire, which was a net tax increase versus the prior year. If you want to use as the baseline expiration of all the Bush-era tax cuts, that's true enough.

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    Re: US has 501,000 fewer jobs than first reported

    Quote Originally Posted by mrwonka View Post
    us has 501,000 fewer jobs than first reported



    so not only have the jobs and growth numbers been kind of average ever since trump's stupid tax cuts passed we now find out that they reported over a half of a million more jobs being created than what was real. This comes straight from trump's own labor department who was forced to admit the truth so don't even try and claim fake news.
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    Re: US has 501,000 fewer jobs than first reported

    Quote Originally Posted by MrWonka View Post
    US has 501,000 fewer jobs than first reported



    So not only have the Jobs and Growth numbers been kind of average ever since Trump's stupid tax cuts passed we now find out that they reported over a half of a million more jobs being created than what was real. This comes straight from Trump's own Labor Department who was forced to admit the truth so don't even try and claim fake news.

    Artificially increasing minimum wage is taking a toll.

    Now there is only 1.5 million more jobs than there are people looking for work instead of 2 million. Its still a first since WW2 when all the men were off fighting.

    Knock it off, economic numbers get retroactively adjusted up and down all the time. The worst this fake news is saying is; this is one of the first times numbers under Trump were lower than first reported.

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    Re: US has 501,000 fewer jobs than first reported

    Quote Originally Posted by swing_voter View Post
    So all this is a lie?

    National Unemployment Rate at 3.7% Through July 2019
    Approximately 164,000 jobs were created in July 2019, and the national unemployment rate remained at 3.7%, according to the Bureau of Labor Statistics. Employment increased in professional and technical services, health care, social assistance, and financial activities.

    National Employment Monthly Update.
    Depends on how much your allowed to exaggerate before you call it a bold faced lie. The point here is that job growth and GDP growth are the same or lower than they were under Obama despite the fact that Trump is radically increasing the deficit where Obama was reducing it. There has been no measurable benefit from these idiotic tax cuts and what little there might have been has been obliterated by his idiotic trade war or worse yet fueled a bubble that's looking more and more likely to burst at any moment.
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