5% Unemployment & 271,000 Jobs

[Newell Steamer]

http://www.nytimes.com/2015/11/07/b...n-region&region=top-news&WT.nav=top-news&_r=0

The 271,000 jump in payrolls reported by the Labor Department on Friday was much more robust than expected and suggested that the economy had enough strength to allow the central bank to begin its move away from the crisis-level interest rate policy it has been following for nearly eight years.

“It was pretty much everything you could ask for in a jobs report,” said Michelle Meyer, deputy head of United States economics at Bank of America Merrill Lynch. “Not only was the headline number strong but there were upward revisions for prior months, the unemployment rate fell and wage growth accelerated.

“Things could still go wrong between now and December, but the odds are better than even that the Fed will raise rates next month,” she said.

P&N Conservatives will now tell us how these numbers are false, fake, incorrect, propaganda, etc... yet, last month's numbers were 1,000% true on how the country would nose dive into hell.

Funny how negative news is true, yet positive new is false.

 

[Fanatical Meat]

Queue the reports are rigged for the election people

 

[sm625]

P&N Conservatives will now tell us how these numbers are false, fake, incorrect, propaganda, etc...

lol there's two things. First of all there are 2.2 million more people "out of the labor force" now than in October of last year. That is in no way indicative of any kind of healthy labor market. Not by a long shot. When you look at the glory days of employment, the late 1990s for example, you did not see those kind of numbers buried in the report.

Secondly, the effects of obamacare on part time employment dynamics have not been fully quantified, but it is safe to assume that at least 25% of all new hires are the result of games played to avoid going over the hourly limits set by the failed legislation.

 

[JSt0rm]

babyboomers are retiring. We knew this day was coming forever. The question is did baby boomers shape public policy to plan for their retirements or did they just use up all that money for other things and expect their children to pick up the tab?

 

[Franz316]

More detailed breakdown of the report...

Workers aged 55 and over made up all the gains, workers 25-54 lost some.

 

[JSt0rm]

More detailed breakdown of the report...

Workers aged 55 and over: +378,000

Workers aged 25-54: -35,000

Oh well I guess that's how they are dealing with their retirement. lol - Take the younger generations jobs, what little they left.

 

[fskimospy]

More detailed breakdown of the report...

Workers aged 55 and over made up all the gains, workers 25-54 lost some.

Household survey has a 90% confidence interval of +/- 300,000 jobs so those results aren't really statistically meaningful.

 

[NaughtyGeek]

Labor participation rate has dropped nearly every month since 2008. But, yeah, the economy is doing "GREAT!"

 

[MomentsofSanity]

Labor participation rate has dropped nearly every month since 2008. But, yeah, the economy is doing "GREAT!"

Really? That's concerning. Why has it dropped? Who is counted in that number?

I'm curious if, say, a decade ago reports were done anticipating a consistant drop in the LPR at the levels we are seeing.

 

[MomentsofSanity]

P&N Conservatives will now tell us how these numbers are false, fake, incorrect, propaganda, etc... yet, last month's numbers were 1,000% true on how the country would nose dive into hell.

Funny how negative news is true, yet positive new is false.

I was plannning on saying that they would just come in and point to the Labor Participation Rate and rant and rave but I'm too late

 

[rudder]

Labor participation rate has dropped nearly every month since 2008. But, yeah, the economy is doing "GREAT!"

Two questions... why do you hate obama and why do you hate America? The unemployment rate is at 5%... why can't you just be happy?

This same thread pops up every time there is a jobs report showing the rainbows are out again. They overlook things like data within the report such as wage stagnation, more part-time hours, etc. If you mention anything negative you are labeled a racist.

 

[Fanatical Meat]

Labor participation rate has dropped nearly every month since 2008. But, yeah, the economy is doing "GREAT!"

Good because at some point I'd like to retire like people are doing now.

 

[fskimospy]

Two questions... why do you hate obama and why do you hate America? The unemployment rate is at 5%... why can't you just be happy?

This same thread pops up every time there is a jobs report showing the rainbows are out again. They overlook things like data within the report such as wage stagnation, more part-time hours, etc. If you mention anything negative you are labeled a racist.

Wages rose by 9 cents during this report, which represents just shy of a 5% annual rate. That's a good result. More part time hours are also a good result, and this report showed fewer people working part time for economic reasons.

It's bizarre to complain about a jobs report for reasons that are all good things that happened, haha.

 

[senseamp]

Thanks, Obama.

 

[NaughtyGeek]

Good because at some point I'd like to retire like people are doing now.

Except the data doesn't correlate with retirement, it correlates with "no longer eligible for unemployment so we don't have to count them as unemployed." Unless you think that people >18 and <54 are retiring?

https://research.stlouisfed.org/fred2/series/LNU01300060

 

[ultimatebob]

Good because at some point I'd like to retire like people are doing now.

So, all of those unemployed 20-somethings living with their parents doing nothing and other folks who have been out of work for years and living off of food stamps are considered to be "retired" now? Sounds like a pretty crummy retirement to me.

 

[ivwshane]

Labor participation rate has dropped nearly every month since 2008. But, yeah, the economy is doing "GREAT!"

You were smart enough to bring up the labor participation rate but you aren't quite smart enough to understand the numbers behind the rate which leads me to believe you are simply a parrot for the right, a mouth breather if you will.

http://www.factcheck.org/2015/03/declining-labor-participation-rates/

Among the reasons cited for the trend:
1) The aging of baby boomers. A lower percentage of older Americans choose to work than those who are middle-aged. And so as baby boomers approach retirement age, it lowers the labor force participation rate.
2) A decline in working women. The labor force participation rate for men has been declining since the 1950s. But for a couple decades, a rapid rise in working women more than offset that dip. Women’s labor force participation exploded from nearly 34 percent in 1950 to its peak of 60 percent in 1999. But since then, women’s participation rate has been “displaying a pattern of slow decline.”
3) More young people are going to college. As BLS noted, “Because students are less likely to participate in the labor force, increases in school attendance at the secondary and college levels and, especially, increases in school attendance during the summer, significantly reduce the labor force participation rate of youths.”
So no matter who was president, and independent of the health of the economy, BLS projected in 2006 that labor force participation rates were going to go down.
But it’s also true that the decline has been even steeper than projected. For example, in that 2006 report, BLS projected the participation rate would decline to 64.5 percent in 2020. It’s already 1.7 percentage points below that in 2015.
According to an analysis by the Congressional Budget Office in February 2014, “[T]he unusually low rate of labor force participation in recent years is attributable to three principal factors: long-term trends, especially the aging of the population; temporary weakness in employment prospects and wages; and some longer-term factors attributable to the unusual aspects of the slow recovery of the labor market, including persistently low hiring rates.”
CBO estimated that between the end of 2007 (a year before Obama took office) and the end of 2013, about half of the decline in participation rates could be pegged to long-term demographic trends, about a third to “temporary weakness in employment prospects and wages,” and about a sixth to “unusual aspects of the slow recovery

 

[NaughtyGeek]

Two questions... why do you hate obama and why do you hate America? The unemployment rate is at 5%... why can't you just be happy?

This same thread pops up every time there is a jobs report showing the rainbows are out again. They overlook things like data within the report such as wage stagnation, more part-time hours, etc. If you mention anything negative you are labeled a racist.

Obama has little if anything to do with it. It's every one of the douchewagons in DC that we've elected to protect the interests of wealthy business owners/corporations in the US. But rah rah rah, I'm a (D) so my team's fighting the good fight. Rah rah rah, I'm an (R) and our team's looking out for you. It's all freaking hog wash and the mindless retards will look at this "great" news and be overjoyed that their particular letter designator has done what was necessary to bring about these "great" results. Meanwhile the Gini Coefficient continues to rise and we all gather round in awe of what those "better than us" have accomplished through all their hard work. Never mind the TPP, NAFTA etc that they passed to help out their struggling wealthy business owners/corporations while offshoring our entire economy. WTG Murica, Fork yeah!

 

[ivwshane]

The word "great" appears no where in the article of the OP not was it used by the OP.

In fact the only person to use the word "great" has been you! So either you are just another troll or you feel that using a strawman some how makes your point valid. Either way, both are a violation of the forum rules.

Obama has little if anything to do with it. It's every one of the douchewagons in DC that we've elected to protect the interests of wealthy business owners/corporations in the US. But rah rah rah, I'm a (D) so my team's fighting the good fight. Rah rah rah, I'm an (R) and our team's looking out for you. It's all freaking hog wash and the mindless retards will look at this "great" news and be overjoyed that their particular letter designator has done what was necessary to bring about these "great" results. Meanwhile the Gini Coefficient continues to rise and we all gather round in awe of what those "better than us" have accomplished through all their hard work. Never mind the TPP, NAFTA etc that they passed to help out their struggling wealthy business owners/corporations while offshoring our entire economy. WTG Murica, Fork yeah!

 

[s0me0nesmind1]

Labor participation rate has dropped nearly every month since 2008. But, yeah, the economy is doing "GREAT!"

Yup.

Have fun with that Social Security pyramid scheme with less tax payers today then previously.

 

[NaughtyGeek]

The word "great" appears no where in the article of the OP not was it used by the OP.

In fact the only person to use the word "great" has been you! So either you are just another troll or you feel that using a strawman some how makes your point valid. Either way, both are a violation of the forum rules.

So am I to believe that stating “It was pretty much everything you could ask for in a jobs report” isn't trying to paint the data as good, great, whatever positive phrase you'd like to throw in there? How exactly would you sum that statement up, let alone the entire article? In fact, wouldn't creating an argument over the use of the word "great" not indeed be the strawman argument you're accusing me of?

 

[Attic]

The only one telling the truth about our economy is the interest rate.

 

[s0me0nesmind1]

So am I to believe that stating “It was pretty much everything you could ask for in a jobs report” isn't trying to paint the data as good, great, whatever positive phrase you'd like to throw in there? How exactly would you sum that statement up, let alone the entire article? In fact, wouldn't creating an argument over the use of the word "great" not indeed be the strawman argument you're accusing me of?

I think there is an a simple underlying message.

This is a GREAT jobs report.

For unemployment. You know... Unemployment.... That thing that only people that are SEEKING work are a part of? Yeah, that group. Nevermind the huge ass proportion that just said "Ehhh fuck it, I'll just suck on the taxpayer teet for the rest of my life"... well, we don't have anything for countering that

 

[shortylickens]

I been applying for work left & right. Nobody hiring.

As selfish and self-centered as I am, the recession is not over until I get a job.

 

[DCal430]

Wasn't their a whistleblower who claimed the census bureau was instructing employees to fabricate unemployment data to make Obama look good.