davidtaylorjr
Well-known member
- Joined
- May 30, 2013
- Messages
- 6,775
- Reaction score
- 1,123
- Location
- South Carolina
- Gender
- Male
- Political Leaning
- Very Conservative
There is no unemployment list used in the BLS Labor Force Statistics. There is a household survey. No questions about benefits are asked and it doesn't make any difference if a person was ever eligible for benefits.
As for giving up. The UE rate is a measure of what percent of people who could be working are not. If a person is not trying to get a job, they could not be working because last I checked, employers don't hire people who haven't applied or in any way talked to them.
You missed the point. The jobs numbers are a mask of reality.
No, they're not. They're the reality of what they're supposed to measure. Complaining that they don't measure something they're not supposed to measure and/or don't show what they're not designed to or can't show is not "reality."
The problem is that some people are trying to use those numbers to represent something that they don't represent. There were 175,000 jobs created in May. Wow, 175,000 seems like a lot of jobs, doesn't it?
Net change of 175,000 jobs. 0.1% monthly change. Not great, but it does represent a growing economy (highest under Bush was 0.3% for comparison). The nature of the jobs is not the best, but it's unclear what the implications are.
In other words, Americans aren't producing things - they are just buying things.
And considering the savings rate last month was the lowest since '07 (I believe) - they are going further and further into debt to buy these things.
Though I agree with the first portion of your post, what I've quoted above isn't necessarily true.
If the money isn't going into savings, and people are buying things, then chances are, that money is going to pay for those things.
Considering the 'interest' that's being paid on savings accounts (non-existent for all intense purposes) versus what the going interest rate is on credit cards (variable, mine is 14.99%) people would be foolish to 'save' rather than pay cash (or the equivalent thereof) for what they purchase.
But not everybody functions that way... they'll spend what they have, and still run up more debt.
As the unemployment numbers under Obama have been manipulated by the most egregious shifts in the Labor Force Participation Rate (LFPR) we have ever seen, this is all smoke-and-mirrors. Were Obama accountable for a more reasonable LFPR, such as just where it was when Stimulus was passed, real unemployment is still over 10%.
Meanwhile, food-stamp rolls have increased by over 50% in less than 5 years of Obama. And still going up. There's your real measure.
Net change of 175,000 jobs. 0.1% monthly change. Not great, but it does represent a growing economy (highest under Bush was 0.3% for comparison). The nature of the jobs is not the best, but it's unclear what the implications are.
175k jobs a month is like trying to fill a swimming pool with a table spoon. we need to create 150k to 200k a month just to keep up with population growth. We have the lowest labor participation rate in the last 40 years. if we had the same labor participation rate as we did 5 years ago unemployment would be about 9%
As the unemployment numbers under Obama have been manipulated by the most egregious shifts in the Labor Force Participation Rate (LFPR) we have ever seen, this is all smoke-and-mirrors.
Except the Labor Force has been increasing the last couple of years...in fact, that's why the rate went up in May...increase in both Employment and Unemployment.Yup, the only reason the U-3 rate is dropping is because people are leaving the workforce - either through retirement or because they can't find work.
May employment report: Economy adds 175K jobs - CBS News
A modest figure, but one that exceeded expectations by a slight amount. Also important to note is the loss of 14,000 positions at the federal level, reflecting budget cuts, and a sizable decline in manufacturing employment (8k). The full and official report can be found here:
Employment Situation Summary
Yeah, the rate went up. And what happened to the U-3? It went up too, despite enough jobs being created that it probably should have stayed at 7.5%.Except the Labor Force has been increasing the last couple of years...in fact, that's why the rate went up in May...increase in both Employment and Unemployment.
As long as MacDonalds and Walmart stay in business, there will be excellent jobs for everyone. This is a good illustration of why we need a minimum wage or manufacturing would have added quite a few $2 an hour jobs.
How is a changing Labor Force Participation Rate "manipulation?" Describe the process that you think happens.
Except the Labor Force has been increasing the last couple of years...in fact, that's why the rate went up in May...increase in both Employment and Unemployment.
I am quite sure that was one of the things the Fed had in mind when they dropped rates to near nothing. ..force people to spend their savings (although that is killing seniors on fixed incomes who are trying to live off of heir savings).
But there are other places Americans could put their money. Gold/silver until recently did exceptionally well, stocks will probably continue to climb - more or less - for the time being (as long as the Fed keeps QE's going and increasing).
But simply spending your savings because the average consumer is getting squat from their savings accounts when the recovery is FAR from assured is foolish, IMO.
Unfirtunately, the government seems to be counting on Americans to continue to spend every penny they have, save nothing and go further and further into debt.
you uniformed idiot. you are a prime example how ignorance of the American public is what got Obama reelectedExcept the Labor Force has been increasing the last couple of years...in fact, that's why the rate went up in May...increase in both Employment and Unemployment.
......... What matters is that the LFPR is shrinking because of retirement/discouraged workers (probably mostly the latter) which is making the U-3 look far better then it really is.
Among conspiratorial crackpots perhaps. No evidence exists that suggests political gamesmanship or a shift in practices in accordance with Administration changes.
you uniformed idiot. you are a prime example how ignorance of the American public is what got Obama reelected
May 31, 2013
63.40%
April 30, 2013
63.30%
March 31, 2013
63.30%
Feb. 28, 2013
63.50%
Jan. 31, 2013
63.60%
Dec. 31, 2012
63.60%
Nov. 30, 2012
63.60%
Oct. 31, 2012
63.80%
Sept. 30, 2012
63.60%
Aug. 31, 2012
63.50%
July 31, 2012
63.70%
June 30, 2012
63.80%
May 31, 2012
63.80%
April 30, 2012
63.60%
March 31, 2012
63.80%
Feb. 29, 2012
63.90%
Jan. 31, 2012
63.70%
Dec. 31, 2011
64.00%
Nov. 30, 2011
64.10%
Oct. 31, 2011
64.10%
Sept. 30, 2011
64.20%
Aug. 31, 2011
64.10%
July 31, 2011
64.00%
June 30, 2011
64.00%
May 31, 2011
64.20%
US Labor Force Participation Rate (Monthly, SA)
Hey...you are right about the stats.
But no need to be calling people 'idiots'.
That performance will establish Obama firmly as the worst president ever on the economy. Obama’s GDP growth is less than half as much as the worst president in the past 60 years.
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