December 252,000 job added - Unemployment down to 5.6%

[Matt1970]

Wow, that's real weak sauce, even for a conservative. You do realize that creating 3M jobs even if population grew by 3M means 100% employment for newly added population, which is a good thing? Bitter much?

LOL, of course that would mean no jobs for the existing population.

 

[bradly1101]

Which is largely a function of baby boomers hitting retirement and "dropping out" of the workforce.

But also if you're unemployed long enough you're considered 'no longer seeking a job' and you aren't counted as unemployed. If you think these books aren't cooked, I've got a bridge to sell you...

In other words, even if a person is still looking actively for a job, that person may have fallen out of the core statistics of unemployment rate after long-term unemployment and is therefore by default classified as "discouraged" (since the person does not appear in the core statistics of unemployment rate).

http://en.wikipedia.org/wiki/Discouraged_worker

 

[theeedude]

LOL, of course that would mean no jobs for the existing population.

Doubling down on stupid? Not surprised.

 

[Matt1970]

Doubling down on stupid? Not surprised.

No news jobs Einstein. Did you actually think I meant all of the population lost their jobs except the 3M added with population growth? "3M jobs even if population grew by 3M means 100% employment for newly added population" What would be left of those 3M jobs for the rest of the population? And don't be angry with me that your claims of wage increase and 3M jobs added didn't factor in what everyone else already knows.

 

[ralfy]

To start they are trying to talk about job numbers using the household survey without mentioning that this is widely considered to be less accurate and much more volatile than the payroll survey, and doing so with no explanation of why they would use that alternate measure, other than that it better fit the story they are trying to tell.

This is pretty common practice for zerohedge, by the way. They have a pretty obvious shtick about imminent disaster, a mysterious cabal, etc, etc. That's how they generate traffic. The sad part is that I think some people actually put their money on things based on that site.

Other organizations discuss similar. For example, from the last few months:

"Workforce Participation at 36-Year Low as Jobs Climb"

http://www.bloomberg.com/news/2014-...-at-36-year-low-even-as-more-jobs-beckon.html

"Why are people leaving the workforce?"

http://www.cbsnews.com/news/why-are-people-leaving-the-workforce/

 

[ralfy]

Yes, the charts in the article would be broadly similar, but the headline and literally the entire text of the article would be unsupportable.

The BLS uses both for different ways of looking at employment, but as I have already said twice, the payroll survey is more accurate, particularly for any given month, even more particularly for change from month to month, and this article is about a single month to month change.



It's actually indisputable as per the BLS's own numbers. The article is highlighting a non-significant result. You should be joining me in indicting zerohedge here.

As pointed out in one article shared earlier, there are additional jobs, but there are also drops in labor participation.

Also, one can look at the type of jobs offered as well as broad unemployment.

 

[theeedude]

No news jobs Einstein. Did you actually think I meant all of the population lost their jobs except the 3M added with population growth? "3M jobs even if population grew by 3M means 100% employment for newly added population" What would be left of those 3M jobs for the rest of the population? And don't be angry with me that your claims of wage increase and 3M jobs added didn't factor in what everyone else already knows.

Need to create 150K jobs per month to keep up with population growth. That's 1.8M per year. Obama economy created 3M in 2014. Now go be bitter about it.

 

[schmuckley]

Retail sales dismally low.
http://www.bloomberg.com/news/2015-...-slumped-in-broad-based-december-retreat.html

http://www.wsj.com/articles/u-s-retail-sales-fall-0-9-in-december-1421242433 "since recession ended" bwahahaha

yep..things are great..for everybody!

 

[theeedude]

Retail sales dismally low.
http://www.bloomberg.com/news/2015-...-slumped-in-broad-based-december-retreat.html

http://www.wsj.com/articles/u-s-retail-sales-fall-0-9-in-december-1421242433 "since recession ended" bwahahaha

yep..things are great..for everybody!

Good thing GOP is in charge of Congress, gonna start trickling down any time now. American people voted for this type of wealth distribution, so stop whining.

 

[schmuckley]

"trickle down" :thumbsdown:
"wealth redistribution" :thumbsdown:

 

[theeedude]

"trickle down" :thumbsdown:
"wealth redistribution" :thumbsdown:

No trickle down and no wealth redistribution = wealth concentration at the top. So enjoy.

 

[werepossum]

"Labor Participation Rate Drops To Fresh 38 Year Low; Record 92.9 Million Americans Not In Labor Force"

http://www.zerohedge.com/news/2015-...-year-low-record-929-million-americans-not-la

Too bad there's no one trustworthy to break down the drop between those once again able to leave the labor force and those who simply can't find a job. Surely some of those are existing or new retirees comfortable enough with the stock market to give up that full time job.

Retail sales dismally low.
http://www.bloomberg.com/news/2015-...-slumped-in-broad-based-december-retreat.html

http://www.wsj.com/articles/u-s-retail-sales-fall-0-9-in-december-1421242433 "since recession ended" bwahahaha

yep..things are great..for everybody!

I think most of that may be gas prices. According to your first link, gas prices counted for around 10% of retail sales last year, so a 10% decrease in gas prices would be a 1% decrease in retail sales. I suspect another big factor may be merchants hedging the Christmas season bets by offering great sales (including "lowest price of the season" sales) in November, which probably tempted a lot of people to buy some of Christmas in November.

I did my part, spent around four grand on Christmas. The rest of you slackers need to get out there and pull your weight!

Good thing GOP is in charge of Congress, gonna start trickling down any time now. American people voted for this type of wealth distribution, so stop whining.

Conservatives believe wealth is earned, not distributed.

 

[theeedude]

Too bad there's no one trustworthy to break down the drop between those once again able to leave the labor force and those who simply can't find a job. Surely some of those are existing or new retirees comfortable enough with the stock market to give up that full time job.


I think most of that may be gas prices. According to your first link, gas prices counted for around 10% of retail sales last year, so a 10% decrease in gas prices would be a 1% decrease in retail sales. I suspect another big factor may be merchants hedging the Christmas season bets by offering great sales (including "lowest price of the season" sales) in November, which probably tempted a lot of people to buy some of Christmas in November.

I did my part, spent around four grand on Christmas. The rest of you slackers need to get out there and pull your weight!


Conservatives believe wealth is earned, not distributed.

OK, but don't complain if the "undeserving" don't have income to spend and sales are down.

 

[werepossum]

OK, but don't complain if the "undeserving" don't have income to spend and sales are down.

Deal. It still escapes me why proggies believe that only people who didn't earn it can properly spend it, but not complaining is a bargain I can accept.

 

[theeedude]

Deal. It still escapes me why proggies believe that only people who didn't earn it can properly spend it, but not complaining is a bargain I can accept.

So the economy is great. There are more jobs and those who "deserve" it have more wealth. Thanks Obama.

 

[Matt1970]

So the economy is great. There are more jobs and those who "deserve" it have more wealth. Thanks Obama.

Wages continue to drop, labor force participation continues to drop. Thanks Obama.

 

[Matt1970]

n/m

 

[glenn1]

So the economy is great. There are more jobs and those who "deserve" it have more wealth. Thanks Obama.

You're right, I should vote for this Obama fellow next election. Once he stopped the stimulus nonsense and liberal giveaways like 99 weeks of unemployment the economy started doing better. Go figure.

 

[theeedude]

Wages continue to drop, labor force participation continues to drop. Thanks Obama.

Have your wages dropped?

 

[compuwiz1]

You should always trust what this administration tells you, always! The POTUS has never lied before. We all got to keep our doctor, we all got to keep our insurance and our rates went down on average $2400 per household, just like B.O. told us they would. Of course Obama and his administration want to continue to paint him in the best light possible. It's all roses. Shit salesmen with mouths full of samples is all we have.

 

[Knowing]

Initial Jobless Claims Unexpectedly Jump

Initial jobless jumps to 316,000 from 294,000 the prior week.
Expectations were for jobless claims to fall to 290,000.

Last week's report also missed expectations.
The four-week moving average was 298,000, an increase of 6,750 from the previous week's revised average.

Must be oil, Macy's, Sears, BofA, JP Morgan...

At least gas is cheap and other than this unfortunate and entirely unpredictable upset and the low retail sales numbers (the heartbeat of the economy before the stock market took over) the job market is booming.

Oh jeez, I completely forgot about the possible paradigm shift in small business creation.