5% Unemployment & 271,000 Jobs

[Jhhnn]

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 😀

There's no counter for right wing fantasy, 'tis true.

 

[Jhhnn]

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

The financial world is awash in loanable funds but underpaid & high overhead in debt consumers can't qualify to borrow them. Interest rates are therefore low. Stock prices are also high, unsurprisingly. Lots of money chasing returns in a low demand economy.

Maybe we should bring back the no-doc no-down teaser rate ARM to stimulate the economy...

 

[ivwshane]

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?

You are either taking your trolling to a new level or you aren't that smart. Saying a jobs report is great is not the same thing as saying the economy is doing great. Do you understand the difference?

 

[Vic]

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

Retired people aren't unemployed.

 

[adamantine.me]

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.

Aye. Whoever is running around supporting the claim that the job market is "normal" - are you hiring?

 

[Newell Steamer]

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.

You can get a job. But, not the one you want it seems.

Also, add to selfish, self-centered:
- short sighted
- lazy
- self entitled
- demanding

... you know, the same labels applied to Millinials who major in Fruit Anatomy Studies and expect to make $1M the first year out of college.

 

[Newell Steamer]

Aye. Whoever is running around supporting the claim that the job market is "normal" - are you hiring?

Just follow the same "advice" provided to Millinials.

Also, stop being self entitled, lazy, unrealistic, demanding, lazy and self centered - get a job.

 

[1prophet]

You can get a job. But, not the one you want it seems.

Also, add to selfish, self-centered:
- short sighted
- lazy
- self entitled
- demanding

... you know, the same labels applied to Millinials who major in Fruit Anatomy Studies and expect to make $1M the first year out of college.

What are you saying, that all these special snowflakes with their "Everyone is a Winner Trophies" and 4 year degrees are not entitled to a high paying/benefits job straight out of college?

Are you sure you aren't a republican in disguise?

 

[boomerang]

You gotta love it.

The .gov changes the way they generate the unemployment rate. It's done purposefully to make the numbers look better.

One faction hoists the unemployment numbers in the air loudly proclaiming, look how wonderful everything is! Our team is the best team! Yay!

The other faction points to the changes in the methodology and says that the numbers are bullshit.

The first group decides reality is not to their liking, and proudly declares that they like the numbers they're hearing and repeats that their team is the best.

The second group says, whatever. Fool yourselves if you wish.

The first group declares the second group a bunch of stoopid poopy heads because they choose not to believe and goes on believing the lies the .gov tells them.

Rinse and repeat.

 

[Newell Steamer]

What are you saying, that all these special snowflakes with their "Everyone is a Winner Trophies" and 4 year degrees are not entitled to a high paying/benefits job straight out of college?

Are you sure you aren't a republican in disguise?

I am just holding up a mirror for him, nothing more.

()🙂

 

[Exterous]

Good. Hopefully this will be the last needed impetus for the Fed to start slowly raising interest rates. Every month I get more and more concerned about all the money flowing into more risky investments in an attempt to get some sort of ROI due to the insanely low rates and the bubble creation that leads to.

The biggest downside seems to be that I should have waited a few more days to book some foreign travel as the dollar is up vs most (all?) major currencies 🙁

 

[fskimospy]

Good. Hopefully this will be the last needed impetus for the Fed to start slowly raising interest rates. Every month I get more and more concerned about all the money flowing into more risky investments in an attempt to get some sort of ROI due to the insanely low rates and the bubble creation that leads to.

Raising interest rates is still probably a bad idea, as inflation is still basically nonexistent. Speaking of bubbles, if the interest rate is so low that we are bidding up the cost of things irrationally, why isn't that showing up in the inflation figures?

The wage growth this month is a sign that we may finally have reached a place where inflation starts to pick up, but it's a single month's data.

I genuinely don't understand why people are so excited to hike interest rates. What good comes from it here?

The biggest downside seems to be that I should have waited a few more days to book some foreign travel as the dollar is up vs most (all?) major currencies 🙁

Well if we are hiking interest rates the dollar should climb further vs those other currencies. Economically this is a bad thing, but it should be good for foreign travel!

 

[runzwithsizorz]

Yup.

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

There has only been 3 times when a cost of living increase was not allowed for Social Security recipients. All 3 came from Obama.
Oh, and the amount of money taken out of my check just went up.

 

[Exterous]

Raising interest rates is still probably a bad idea, as inflation is still basically nonexistent. Speaking of bubbles, if the interest rate is so low that we are bidding up the cost of things irrationally, why isn't that showing up in the inflation figures?

The wage growth this month is a sign that we may finally have reached a place where inflation starts to pick up, but it's a single month's data.

I genuinely don't understand why people are so excited to hike interest rates. What good comes from it here?

Except that a large number of people completely disagree with you including, most likely, the FED as the odds are upwards of 70% we'll see a raise in December.

And suppressed bond prices, 0% treasury yields and the increase investments in junk bonds and riskier stocks don't show up in inflation numbers. There is a very real concern that the low interest rates are affecting the investment options of a large number of people/organizations as the safer investments are returning below well below historical (planned) rates. If rates come up slowly and people move out of riskier investments and into more traditionally needed options returning more traditional returns then no large harm done but that is a ticking clock.

 

[runzwithsizorz]

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.

Things are so bad around where I live, (population 2 million), that they closed the employment office.

 

[Sonikku]

More detailed breakdown of the report...

Workers aged 55 and over: +378,000

Workers aged 25-54: -35,000

Must just be because the 25 and up crowd are lazy. Has nothing to do with Job offshoring/free trade etc.

 

[Texashiker]

Wow, just wow.

This is seasonal hiring for the holidays, nothing more.

Along comes January and the majority of those people will be without a job.

 

[Balt]

Except that a large number of people completely disagree with you including, most likely, the FED as the odds are upwards of 70% we'll see a raise in December.

And suppressed bond prices, 0% treasury yields and the increase investments in junk bonds and riskier stocks don't show up in inflation numbers. There is a very real concern that the low interest rates are affecting the investment options of a large number of people/organizations as the safer investments are returning below well below historical (planned) rates. If rates come up slowly and people move out of riskier investments and into more traditionally needed options returning more traditional returns then no large harm done but that is a ticking clock.

The argument from a lot of people in the Fed for a rate increase seems to be "If we don't raise interest rates now, we won't be able to cut them when the next recession hits." But raising rates right now seems more likely to actually cause the economy to slow down (increasing the risk of a recession). I don't know if our recovery is currently strong enough for anything other than a meaningless token raise. It seems companies are just now finally willing to invest a little bit more in their workers and less in stock buybacks.

The market definitely seems distorted, but honestly in the current global economy I don't know that people will ever again be able to park their money in ultra-safe bonds and expect to get a 5% annual return. I think those days are gone.

 

[DCal430]

You gotta love it.

The .gov changes the way they generate the unemployment rate. It's done purposefully to make the numbers look better.

One faction hoists the unemployment numbers in the air loudly proclaiming, look how wonderful everything is! Our team is the best team! Yay!

The other faction points to the changes in the methodology and says that the numbers are bullshit.

The first group decides reality is not to their liking, and proudly declares that they like the numbers they're hearing and repeats that their team is the best.

The second group says, whatever. Fool yourselves if you wish.

The first group declares the second group a bunch of stoopid poopy heads because they choose not to believe and goes on believing the lies the .gov tells them.

Rinse and repeat.

The U.S Census Bureau publishes all of the individual responses to monthly Current Population Survey it uses to calculate the unemployment rate. If you think the rate is suspect you are free to download the data and calculate your own rate.

 

[fskimospy]

Wow, just wow.

This is seasonal hiring for the holidays, nothing more.

Along comes January and the majority of those people will be without a job.

These are seasonally adjusted numbers.

As usual you are clueless.

 

[boomerang]

The U.S Census Bureau publishes all of the individual responses to monthly Current Population Survey it uses to calculate the unemployment rate. If you think the rate is suspect you are free to download the data and calculate your own rate.

Just stop. You sound like an angry child. Anyone paying attention is well aware of the changes that have been made regarding who is counted and how they are counted to reach the unemployment number. We also know the changes made in how inflation is calculated to suit the governments needs. Food and energy costs skyrocket and inflation goes down or stays flat because we don't count those items anymore. Duh.

You are the problem. As long as you are willing to accept what is an obvious lie because you're either too ignorant to understand it's a lie or put so much faith in the government that you choose to believe the lies they tell you, we will never get out of the very deep hole we've dug for ourselves.

You don't have nearly one third of the population of the country not working and have 5% unemployment. Are you truly that ignorant or are too busy genuflecting at the shrine of the .gov to care?

Either way you look like an idiot. You do wear it will though I must say.

 

[fskimospy]

Just stop. You sound like an angry child. Anyone paying attention is well aware of the changes that have been made regarding who is counted and how they are counted to reach the unemployment number. We also know the changes made in how inflation is calculated to suit the governments needs. Food and energy costs skyrocket and inflation goes down or stays flat because we don't count those items anymore. Duh.

You are the problem. As long as you are willing to accept what is an obvious lie because you're either too ignorant to understand it's a lie or put so much faith in the government that you choose to believe the lies they tell you, we will never get out of the very deep hole we've dug for ourselves.

You don't have nearly one third of the population of the country not working and have 5% unemployment. Are you truly that ignorant or are too busy genuflecting at the shrine of the .gov to care?

Either way you look like an idiot. You do wear it will though I must say.

Can you tell us what changes have been made to unemployment calculations, specifically?

You're the actual problem. You're a guy who knows almost nothing about the topics he rants about and substitutes right wing opinion sources to try and fill the gap. They play you like a fiddle and yet somehow you've convinced yourself that everyone else is the problem.

 

[DCal430]

Just stop. You sound like an angry child. Anyone paying attention is well aware of the changes that have been made regarding who is counted and how they are counted to reach the unemployment number. We also know the changes made in how inflation is calculated to suit the governments needs. Food and energy costs skyrocket and inflation goes down or stays flat because we don't count those items anymore. Duh.

You are the problem. As long as you are willing to accept what is an obvious lie because you're either too ignorant to understand it's a lie or put so much faith in the government that you choose to believe the lies they tell you, we will never get out of the very deep hole we've dug for ourselves.

You don't have nearly one third of the population of the country not working and have 5% unemployment. Are you truly that ignorant or are too busy genuflecting at the shrine of the .gov to care?

Either way you look like an idiot. You do wear it will though I must say.

The Census Bureau has made no changes on which households it surveys, so again if you disagree with how it calculates the numbers you are free to download all of the household responses and come up with your own rate.

This webpage publishes all of the individual household responses. http://dataferrett.census.gov/

 

[fskimospy]

The Census Bureau has made no changes on which households it surveys, so again if you disagree with how it calculates the numbers you are free to download all of the household responses and come up with your own rate.

This webpage publishes all of the individual household responses. http://dataferrett.census.gov/

It is amazing to me how frequently these nuts allege some sort of conspiracy to fudge unemployment, inflation, etc, etc, but then when asked what exactly was done or what it should be instead they have no answer.

 

[Newell Steamer]

These are seasonally adjusted numbers.

As usual you are clueless.

B-b-but adjusting the calculations is wrong! It paints a dishonest picture!