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Solid jobs report shows an economy marching towards full employment

Lafayette

Lafayette

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From the Economic Policy Institute: Solid jobs report shows an economy marching towards full employment

Excerpt:
This morning’s employment situation report showed the economy added 223,000 jobs in May—above consensus predictions and enough to continue the economy’s steady march towards full employment. The report also shows that the unemployment rate fell to 3.8 percent. In April, the unemployment rate dropped below 4.0 percent for the first time since 2000, but for the “wrong” reasons—because people left the labor force, not because they found work. Meanwhile, in May, more people found jobs at the same time that the labor force participation rate ticked down slightly. About two-thirds of the drop in the unemployment rate in May was because workers found jobs, while about one-third of the drop was from people leaving the labor force.Wages, meanwhile, grew 2.7 percent over the past year. Year-over-year nominal wage growth has been remarkably flat since the end of 2015—hovering around 2.6 percent and never getting above 2.8 percent. In a full employment economy, we would see wages rising much faster—closer to 3.5 percent and above—to claw back the losses to labor share in the aftermath of the Great Recession.

While economists and commentators have myriad explanations for why wage growth is so sluggish, it seems obvious that, with many workers still unemployed or sitting on the sidelines, employers just don’t have any incentive to raise wages.
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Of course, Donald Dork will take the credit for this "remarkable achievement", when it all really started during the Obama Administration in 2014. When the Employment to population ratio started moving upwards again percentagewise.

And without any help whatsoever from the Federal spending, which the Replicants were dead set against and refused the president.

Which is why also no jobs were created in the US for four long years from 2010 to 2014 ...
 
He will take credit. However, it can't be denied that the trajectory was established before Trump took office.

And don't forget, he gets to take credit for the good or bad that happens a solid year out of office, too.
 
Let’s hope the trend continues.
 
Lafayette said:
From the Economic Policy Institute: Solid jobs report shows an economy marching towards full employment

Excerpt:

Of course, Donald Dork will take the credit for this "remarkable achievement", when it all really started during the Obama Administration in 2014. When the Employment to population ratio started moving upwards again percentagewise.

And without any help whatsoever from the Federal spending, which the Replicants were dead set against and refused the president.

Which is why also no jobs were created in the US for four long years from 2010 to 2014 ...
Click to expand...
So why were 2017 jobs created less than 2016?
 
Lafayette said:
From the Economic Policy Institute: Solid jobs report shows an economy marching towards full employment

Excerpt:

Of course, Donald Dork will take the credit for this "remarkable achievement", when it all really started during the Obama Administration in 2014. When the Employment to population ratio started moving upwards again percentagewise.

And without any help whatsoever from the Federal spending, which the Replicants were dead set against and refused the president.

Which is why also no jobs were created in the US for four long years from 2010 to 2014 ...
Click to expand...
Of course the -750000 job loss / month when O came in had to be factored in.
No OVERALL jobs.
Look at the bikini graph
 
ON THE BACKS OF AMERICAN WORKERS

YorkshirePete said:
Of course the -750000 job loss / month when O came in had to be factored in. No OVERALL jobs.
Click to expand...

I detest when people take an economic fact and attribute the consequence to the sitting PotUS. Particularly when that PotUS had nothing whatsoever to do with the original fact.

Obama was not responsible for the Great Recession that HE INHERITED from Dubya. Moreover, his first act as PotUS IN 2008, with a Dem-Congress, was to pass the ARRA expenditure bill ($545B) that stopped dead an exploding unemployment rate at 10% from which it began its descent. (See that fact here in the US Unemployment Rate history that peaks in 2010.)

More expenditure was needed during the Great Recession but the American electorate stoopidly had given the HofR over to the Replicants in the 2010-midterms. Who, in the midst of a full recession, tried to convince Americans that the "debt was too high, so no further expenditure was needed"! So they refused any further increase in federal spending!!!

The result was that NO NEW JOBS WERE CREATED FROM 2010 TO 2014 -see that factual evidence here in the Bureau of Labor Statistics Employment-to-population Ratio historical infographic! For your edification of the statistical FACTS of the matter, here is the attendant infographic:
latest_numbers_LNS12300000_2008_2018_all_period_M05_data.gif


Note the stagnation of job-creation from 2010 to 2014 resulting from the fact that the Replicants wanted high-unemployment in order to win the 2012 presidential elections. On the backs of American workers!

Go get a degree in Economics, then come back for some serious "debate" ...
 
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REPLACED FOREVER

YorkshirePete said:
So why were 2017 jobs created less than 2016?
Click to expand...

What matters is the Employment-to-population Ratio. And that of the US shows from 2012 onward, during Obama's second term-of-office, the country was creating jobs uniformly - but not due to any Great Expenditure on the part of the US government. It is a slow recovery, but the US is back to "acceptable levels of low unemployment".

BUT, though the US is still climbing out of its Great Recession hole, it is nowhere near where it was in 2008 at the beginning of the downturn. As shown here in the Employment-to-population Ratio:
latest_numbers_LNS12300000_2008_2018_all_period_M05_data.gif


What happened?!?

The Information Age arrived in full-force! The jobs that the US got rid-of went off to the Far East and they aint comin' back!

To retrun to the E-to-p Ratio of pre-2008 (around 63%), we need an entirely new set of job-creation. And that new-set is going to take time to educate our people to a higher level of qualifications. Which is a consequence of the fact that the Information Age has replaced forever in the US the Industrial Age ... !
 
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The U.S. economy is already at "full employment."
 
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