Awesome jobs report: 321,000 more jobs, previous two months revised up 44,000

Blackjack200

Lifer
May 28, 2007
15,995
1,685
126
http://www.nytimes.com/2014/12/06/business/economy/november-jobs-unemployment-figures.html?_r=0

Worker earnings up 0.4%, that's the number I'd really like to see move more.

Lower gas prices and more workers earning wages could be good tinder for a real economic surge.

So why the persistent gloom, not to mention anger?

Part of the problem is that even though employment is back above pre-recession levels — the eight million jobs lost between 2008 and 2010 have been more than made up since then — millions of new workers have joined the work force over that period.

So we're still, IMO, a long way from full employment, and that's why wages have been sluggish.

Still, great report, gives me some hope. :thumbsup:
 

boomerang

Lifer
Jun 19, 2000
18,890
642
126
Sounds like the five year plan will be completed in four. Always good news to hear even if it has been heard every month for as long as I can remember.
 

dank69

Lifer
Oct 6, 2009
35,204
28,223
136
Wow the new Republican controlled Senate is fixing things fast!
 

fskimospy

Elite Member
Mar 10, 2006
83,717
47,406
136
The best part about this report is definitely that there's finally some real wage growth happening. That is a sign of a healthy labor market.
 
Nov 8, 2012
20,828
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It's called temp jobs for the holidays. Anyone with half a brain will see that and report that. How much of this do you think was retail jobs for low pay / low class that is for part time and temporary hire? (IE: Going to be canned after the holidays?) deeeeeeeerp derp.

I'm not saying jobs are shitty, but put your thinking cap on children. This is nothing to write home about during the month of black friday.

I'll agree - worker earnings is the only useful number here that shows any sign of significance. However, we have been waiting and trying to get that number to budge in the SLIGHTEST for the last 2 years and it hasn't moved an inch. Needless to say, it's loooooooooong overdue and way under for where we are at in the recovery.


Also, employment is NOT above pre-recession levels. Check your facts brolociraptor.
 
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fskimospy

Elite Member
Mar 10, 2006
83,717
47,406
136
It's called temp jobs for the holidays. Anyone with half a brain will see that and report that. How much of this do you think was retail jobs for low pay / low class that is for part time and temporary hire? (IE: Going to be canned after the holidays?) deeeeeeeerp derp.

I'm not saying jobs are shitty, but put your thinking cap on children. This is nothing to write home about during the month of black friday.

It's not temp jobs for the holiday. Job growth is seasonally adjusted to remove the temp job effects.

Thinking caps needed, indeed!
 

dank69

Lifer
Oct 6, 2009
35,204
28,223
136
It's called temp jobs for the holidays. Anyone with half a brain will see that and report that. How much of this do you think was retail jobs for low pay / low class that is for part time and temporary hire? (IE: Going to be canned after the holidays?) deeeeeeeerp derp.

I'm not saying jobs are shitty, but put your thinking cap on children. This is nothing to write home about during the month of black friday.

I'll agree - worker earnings is the only useful number here that shows any sign of significance. However, we have been waiting and trying to get that number to budge in the SLIGHTEST for the last 2 years and it hasn't moved an inch. Needless to say, it's loooooooooong overdue and way under for where we are at in the recovery.


Also, employment is NOT above pre-recession levels. Check your facts brolociraptor.
Every fucking year someone spouts this nonsense.
 

Newell Steamer

Diamond Member
Jan 27, 2014
6,894
8
0
One time temporary pipeline jobs are OK and an excellent reason.

Recurring temporary seasonal jobs,.. AIN'T NOTHING TO BE PROUD OF!!

Man, this situational "logic" just don't make much sense,..
 
Dec 30, 2004
12,554
2
76
as usual we needed 400k/month to return to previous employment levels; the jobless have simply been jobless for too long to be able to continue filing for unemployment.
employment population ratio shows us this.

Also, the job reports are for many intents and purposes useless.

Finally, this is seasonal growth and nothing indicative of growth
 

dank69

Lifer
Oct 6, 2009
35,204
28,223
136
as usual we needed 400k/month to return to previous employment levels; the jobless have simply been jobless for too long to be able to continue filing for unemployment.
employment population ratio shows us this.

Also, the job reports are for many intents and purposes useless.

Finally, this is seasonal growth and nothing indicative of growth

Nice! Looks like you regurgitated ALL the standard GOP talking points in one post.
 

fskimospy

Elite Member
Mar 10, 2006
83,717
47,406
136
as usual we needed 400k/month to return to previous employment levels; the jobless have simply been jobless for too long to be able to continue filing for unemployment.
employment population ratio shows us this.

Please show me any credible economic analysis that says we need 400k/month to return to previous employment levels.

Also, the job reports are for many intents and purposes useless.

Oh? Please explain why.

Finally, this is seasonal growth and nothing indicative of growth

This is factually false. These numbers are seasonally adjusted. It is absolutely indicative of growth.

Why are you so mad about a good jobs report that you're desperately trying to find a way not to believe it?
 

fskimospy

Elite Member
Mar 10, 2006
83,717
47,406
136
I'm so glad we now have employment truthers to go along with the inflation truthers.

When job growth was poor, the BLS numbers were accepted without question. When job growth is good, they are part of a conspiracy to trick everyone.
 

Blanky

Platinum Member
Oct 18, 2014
2,457
12
46
But total employment rates are lower than they were pre-recession, stimulus spending has pumped the stock market into a bubble, ACA, junk bonds, $50T unfunded obligations, hyper-inflation, deflationary-spiral, muslim president, benghazi, war on Christmas, Iranian nuclear threat, etc.
 

Smoblikat

Diamond Member
Nov 19, 2011
5,184
107
106
How many of these jobs were full time positions? Also, how many were above minimum wage?

This is good news either way, but I fear the numbers are being inflated with seasonal/temporary low skill jobs.
 

Blackjack200

Lifer
May 28, 2007
15,995
1,685
126
It's called temp jobs for the holidays. Anyone with half a brain will see that and report that. How much of this do you think was retail jobs for low pay / low class that is for part time and temporary hire? (IE: Going to be canned after the holidays?) deeeeeeeerp derp.

I'm not saying jobs are shitty, but put your thinking cap on children. This is nothing to write home about during the month of black friday.

I'll agree - worker earnings is the only useful number here that shows any sign of significance. However, we have been waiting and trying to get that number to budge in the SLIGHTEST for the last 2 years and it hasn't moved an inch. Needless to say, it's loooooooooong overdue and way under for where we are at in the recovery.


Also, employment is NOT above pre-recession levels. Check your facts brolociraptor.

as usual we needed 400k/month to return to previous employment levels; the jobless have simply been jobless for too long to be able to continue filing for unemployment.
employment population ratio shows us this.

Also, the job reports are for many intents and purposes useless.

Finally, this is seasonal growth and nothing indicative of growth

I think I'm going to nominate these posts jointly for ownage of the year.

To summarize and add to what others have said...

- The report is seasonally adjusted.
- Employment is most certainly above pre-recession levels.
- We do not need to add 400k jobs/month to reach previous employment levels.
- This report has nothing to do with unemployment filing, it is simply a record of the number of new employment positions created by the economy in the month of November.
- The jobs reports are not for many intents and purposes useless.
 

fskimospy

Elite Member
Mar 10, 2006
83,717
47,406
136
How many of these jobs were full time positions? Also, how many were above minimum wage?

This is good news either way, but I fear the numbers are being inflated with seasonal/temporary low skill jobs.

All that's available in the report. Specifically, and most importantly, wages are going up finally.

Also, as I already said, the numbers are seasonally adjusted. That takes out the temp/seasonal hiring.
 

Sonikku

Lifer
Jun 23, 2005
15,749
4,558
136
In anticipation of Republicans taking back all of Congress and pushing their prosperity packed bills, businesses are now hiring through the roof and starting to pay people more. We've turned a corner people.
 

fskimospy

Elite Member
Mar 10, 2006
83,717
47,406
136
The jobs report is useless unless it shows that the unemployment rate is high under a Democratic admininstration; then it's extremely meaningful.

Facts are only useful if they tell me things I want to hear. Otherwise they are devilish lies.
 

Blackjack200

Lifer
May 28, 2007
15,995
1,685
126
All that's available in the report. Specifically, and most importantly, wages are going up finally.

Also, as I already said, the numbers are seasonally adjusted. That takes out the temp/seasonal hiring.

The report is available here: http://www.bls.gov/news.release/pdf/empsit.pdf

I couldn't find a specific breakdown of full time vs. part time, but here's an interesting blurb:

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 6.9 million, changed little in November. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

In anticipation of Republicans taking back all of Congress and pushing their prosperity packed bills, businesses are now hiring through the roof and starting to pay people more. We've turned a corner people.

:p

In all seriousness, I think the government did a fantastic job with what amounted to a complete collapse of the financial industry in 2008. They backstopped the money market funds, and restored confidence in the credit markets by taking over several huge financial institutions and eliminating counterparty risk. The fed cut interest rates to essentially zero, then injected huge amounts of money into the economy through quantitative easing. It has all worked brilliantly.
 
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