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US unemployment lowest in 4 years

Higgins86

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BBC News - US employment up by 162,000 in July



The US economy added 162,000 new jobs in July.

This was below economists' expectations of more than 180,000 and the government also cut its previous estimates for hiring in May and June.

Nonetheless, the new jobs helped the unemployment rate to fall to 7.4%.





overall positive for the US economy hopefully this is a sign of recovery worldwide.
 

ttwtt78640

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BBC News - US employment up by 162,000 in July



The US economy added 162,000 new jobs in July.

This was below economists' expectations of more than 180,000 and the government also cut its previous estimates for hiring in May and June.

Nonetheless, the new jobs helped the unemployment rate to fall to 7.4%.

overall positive for the US economy hopefully this is a sign of recovery worldwide.
That number of "new" jobs sounds wonderful until you consider that over 336,000 people in the US turned 18 in that month.

How many people turn 18 each year in US
 

Samhain

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250k uptick since last July in people who have two jobs.
 

Papa bull

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Remember the good ol' days when people just ranted about Iraq and Iran and didn't worry about jobs?
 

trfjr

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BBC News - US employment up by 162,000 in July



The US economy added 162,000 new jobs in July.

This was below economists' expectations of more than 180,000 and the government also cut its previous estimates for hiring in May and June.

Nonetheless, the new jobs helped the unemployment rate to fall to 7.4%.





overall positive for the US economy hopefully this is a sign of recovery worldwide.

Despite the lackluster job growth, the unemployment rate still managed to tick down two notches to 7.4% in July from 7.6% in June.

Part of the reason: the labor force participation rate, which fell to 63.4% last month from 63.5% the month before.

The civilian labor force decreased by 37,000 to 155.80 million in July, while those not in the labor force rose by 240,000 to 89.96 million.


Labor Force Participation Rate Falls In July - Yahoo! Finance
 

sawyerloggingon

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BBC News - US employment up by 162,000 in July



The US economy added 162,000 new jobs in July.

This was below economists' expectations of more than 180,000 and the government also cut its previous estimates for hiring in May and June.

Nonetheless, the new jobs helped the unemployment rate to fall to 7.4%.


70% of those jobs are part time.

"When the payroll report was released last month, the world finally noticed what we had been saying for nearly three years: that the US was slowly being converted to a part-time worker society. This slow conversion accelerated drastically in the last few months, and especially in June, when part time jobs exploded higher by 360K while full time jobs dropped by 240K. In July we are sad to report that America's conversation to a part-time worker society is not "tapering": according to the Household Survey, of the 266K jobs created (note this number differs from the establishment survey), only 35% of jobs, or 92K, were full time. The rest were part time.



Obamacare Full Frontal: Of 953,000 Jobs Created In 2013, 77%, Or 731,000 Are Part-Time | Zero Hedge
 

Higgins86

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Visbek

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70% of those jobs are part time.
Total non-farm employment as of July 2013: 162 million
Non-farm part-time employees for economic reasons (including inability to find full-time jobs): 8.2 million
Non-farm part-time employees for non-economic reasons (e.g. caring for a child, retired): 18.8 million

Based on the past year of data, there's no obvious trends.

U6 unemployment -- which includes part-timers who want to work full-time, discouraged workers and marginally attached workers, dropped from 15.2% (July 2012) to 14% (July 2013).

We should be back to normal rates of unemployment in 6-12 months.

BLS > ZeroHedge

Employment Situation Summary Table B. Establishment data, seasonally adjusted
Table A-8. Employed persons by class of worker and part-time status
Table A-15. Alternative measures of labor underutilization
 

soot

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That number of "new" jobs sounds wonderful until you consider that over 336,000 people in the US turned 18 in that month.

How many people turn 18 each year in US
That number of "new" 18-year-olds might sound problematic until you consider that roughly 320,000 people retired that same month.

Also consider that about 80,000 people died sudden, unexpected deaths. Extrapolate out that a least half of them had to be below retirement age as a function of proportionality and consider what that would do to the work force/labor market.

"New" workers entering the labor market for the first time really aren't that great of a consideration in respect to unemployment numbers because they're entering on a roughly 1:1 rate with those permanently leaving.
 

Fenton

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BBC News - US employment up by 162,000 in July



The US economy added 162,000 new jobs in July.

This was below economists' expectations of more than 180,000 and the government also cut its previous estimates for hiring in May and June.

Nonetheless, the new jobs helped the unemployment rate to fall to 7.4%.





overall positive for the US economy hopefully this is a sign of recovery worldwide.
Positive news ?? Your'e kidding right ?

And how many of those jobs were part time ?

ITS TERRIBLE NEWS.

5 years in with perpetual QE and we're not even keeping up with population increases and our GDP is what ? 1.7% ?
 

Fenton

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Total non-farm employment as of July 2013: 162 million

Non-farm part-time employees for economic reasons (including inability to find full-time jobs): 8.2 million
Non-farm part-time employees for non-economic reasons (e.g. caring for a child, retired): 18.8 million

Based on the past year of data, there's no obvious trends.

U6 unemployment -- which includes part-timers who want to work full-time, discouraged workers and marginally attached workers, dropped from 15.2% (July 2012) to 14% (July 2013).

We should be back to normal rates of unemployment in 6-12 months.

BLS > ZeroHedge

Employment Situation Summary Table B. Establishment data, seasonally adjusted
Table A-8. Employed persons by class of worker and part-time status
Table A-15. Alternative measures of labor underutilization
Bull sh**...

Your'e leaving out quite a bit of pertinent data there.

The lefts death grip on their corrupt ideology is going to be the subject of a fine psych thesis one day.
 

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BBC News - US employment up by 162,000 in July



The US economy added 162,000 new jobs in July.

This was below economists' expectations of more than 180,000 and the government also cut its previous estimates for hiring in May and June.

Nonetheless, the new jobs helped the unemployment rate to fall to 7.4%.





overall positive for the US economy hopefully this is a sign of recovery worldwide.
Take your facts and shove them. Obama is a socialist, and born in Kenya, or maybe Singapore, and the world will end by midday next Tuesday, latest, since Michelle has a large booty.

Get a clue!!!
 

Higgins86

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Positive news ?? Your'e kidding right ?

And how many of those jobs were part time ?

ITS TERRIBLE NEWS.

5 years in with perpetual QE and we're not even keeping up with population increases and our GDP is what ? 1.7% ?


yes generally when a countries unemployement rate continues to drop I would see it as positive
 

Erod

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good majority of those 18 year olds I imagine are not working through the summer, are going to college or already have a part time job established
What you fail to acknowledge is the unbelievable number of people that have just quit trying to find a job. They aren't included in the numbers.

Plus, many of these McJobs are part time.

There are regions in the country doing fine, but there are huge swaths of highly populated areas where people are just accepting the government dole as their means to live now.
 

Fenton

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yes generally when a countries unemployement rate continues to
drop I would see it as positive
You can do better than that. You CAN actually delve into the jobs numbers and find, just like I did that that drop comes with a few profound caveats.

We here in America, well those who care about the Country do our due dilligence to make sure the information that comes out of this administration IS actually positive when they say its positive.

Usually it's not.
 

Fenton

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OMG!!!! What will Tea Partiers do??? Single-
wides have no spare bedrooms!!!!!!

Maybe if millions of idiots had not elected a incompetent liar to run our Country they could afford to get out of those trailers.

Actually, every Tea Partier I've ever met isually live in the mid to upper scale neighborhoods.

These are people that usually work for a living, rather than count their government cheese wedges and smoke dope
 

Sisyphus

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Maybe if millions of idiots had not elected a incompetent liar to run our Country they could afgord to get out of those trailers.

Actually, every Tea Partier I've ever met isually live in the mid to upper scale neighborhoods.

These are people that usually work for a living, rather than count their government cheese wedges and smoke dope
It's a big world. Seems experiences vary. I live in an upscale neighborhood (Kirkland WA) and have yet to meet a Tea Partier, in these parts. The ones I've run into are down at Lazy Acres Mobile Home Park & Coin-Op Laundry; and they're all pudgy-faced, toothless, cross-eyed morons.

Go figure.
 

Erod

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OMG!!!! What will Tea Partiers do??? Single-wides have no spare bedrooms!!!!!!
Those tea partiers are your bosses at work. Your bitterness is so transparent.
 

Fenton

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Oh please Kush. Don't give me that BS.

This economy is stagnant, and thats WITH perpetual QE and massive spending .

What was it, a couple of weeks ago Bernake anounced our economy would collapse without his pumping.

5 years in and Obama's house of cards is being propped up with the FEDs Pumping.

The Democrat mandated collapse ? Yea it was bad but blaming Obama's incompetence on that is a desperate attempt to save face. Not too mention he's pushing for the very same policies that causef the last collapse and he's doing it through FHA and Ginnie Mae.

Why are you so inexorably connected to a failure of a President ?
 

Sisyphus

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Those tea partiers are your bosses at work. Your bitterness is so transparent.
Indeed I am!!! Imagine, I'm sitting here with a sweeping view of Lake Washington. Meanwhile them Teas are living large in Lazy Acres -- with a coin-op laundry right there in the trailer court!! Is that convenient, or what?????

Who wouldn't be jealous as all get out?
 

Woodman909

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BBC News - US employment up by 162,000 in July



The US economy added 162,000 new jobs in July.

This was below economists' expectations of more than 180,000 and the government also cut its previous estimates for hiring in May and June.

Nonetheless, the new jobs helped the unemployment rate to fall to 7.4%.





overall positive for the US economy hopefully this is a sign of recovery worldwide.

This 7.4% number is bogus, since it does not account for the 250K more people who have given up looking this past quarter. If you count all the people who have no job, whether they are looking or not, the number is well over 13%.
 
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