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

[Doc Savage Fan]

Republicans are all for a welfare state in prison instead of offering incentives to hire more of them by offering 72 virgins in Heaven.

I guess they figure that offering 72 virgins in Heaven would be much more costly.

 

[blankslate]

Now we just need to elect a Republican President in 2016 and the unemployment rate will be negative seven percent....


.....

 

[uclaLabrat]

No because the quality of jobs. The new jobs being created are Mcjobs. Not high quality paying jobs.

Anecdotal Evidence: This time last year I was in school/unemployed. I finally landed a gig in spring as a temp-to-hire. Recently converted to full-time, great salary with fat benefits, and my boss has already said I'll be re-evaluated for a promotion end of year. Things are definitely looking up from the trenches, and I couldn't even get a call back a couple years ago.

 

[alcoholbob]

Now we just need to elect a Republican President in 2016 and the unemployment rate will be negative seven percent....


.....

A negative seven percent unemployment rate with millions of people still looking for work maybe.

 

[DCal430]

The funny thing about the census making up numbers on unemployment, is the guy who "blew the whistle" was actually fired from the census because he busted falsifying information. An independent investigation found zero proof of any falsification of information on any meaningful scale.

 

[uclaLabrat]

Anybody that things the information is positive isn't looking closely enough. The net is that wages are down, people are leaving the workforce, and the primary new jobs are low paying jobs hence the depression on ages.

Basically if it wasn't for inflation being kept low (primarily due to oil or at least a key contributor) we'd be in a world of pain. Instead we essentially have more of the same. The economy is growing but only in the tiniest scale - essentially we are flat.

No improvement but on the bright side very little is worsening.

The other explanation (more likely in my opinion) is that the jobs created aren't McJobs, although that certainly fits the narrative the media would like to sell, but what we are seeing is a natural result of demographics.

We are smack in the middle of our largest population segment (baby boomers) retiring in droves. On top of that, those that are retiring likely comprise the senior, higher paying positions, and are being replaced by the younger, entry-level professionals or middle-management filling those now vacant positions.

The labor market during the recession for experienced, middle-age professionals was still active, it was mainly the entry level workers (like myself) that were shut out of the market, often taking refuge in schools and graduate programs. This led to a divergence in the workforce that is only now being utilized. This has basically led to a stalling in the career inception for those graduating between 2008-2012. That slack is finally being taken up, as more and more hiding out in school programs enter the workforce in earnest.

 

[Fayd]

No one is playing the "Thanks Republican Congress" game.
Wages are down, costs me less to obtain services. Thanks Obama.
Unemployment is down, more people are working. Thanks Obama.

he doesn't have anything to do with either point 0_o

 

[x26]

Meanwhile Republicans in Congress angering Muslim extremists that are killing more people.

Better Put your Helmet back on!!

 

[MagickMan]

No one is playing the "Thanks Republican Congress" game.
Wages are down, costs me less to obtain services. Thanks Obama.
Unemployment is down, more people are working. Thanks Obama.

If you actually do believe this, you're a fucking imbecile. Gov't has shit to do with any of this, in fact the more they stay out of the economy the better it is.

 

[senseamp]

If you actually do believe this, you're a fucking imbecile. Gov't has shit to do with any of this, in fact the more they stay out of the economy the better it is.

You really should learn basic economics. Govt has a huge role to play in the economy.

 

[Matt1970]

No one is playing the "Thanks Republican Congress" game.
Wages are down, costs me less to obtain services. Thanks Obama.
Unemployment is down, more people are working. Thanks Obama.

That has to be one of the most pathetic partisan things I have heard in a while. It really is impossible for you to find fault in Obama isn't it?

 

[senseamp]

GOP was predicting that Stimulus would cause inflation and Obamacare would increase unemployment. Unemployment is down without wage inflation. So there.

http://www.politico.com/story/2015/01/does-obama-deserve-credit-for-economy-114107.html

Economists – on the left and right and in the middle – say the facts suggest a vastly more complex middle ground. Obama deserves significant credit for some shrewd and politically difficult moves early on his presidency, economists say, including the stimulus and the automobile and Wall Street bailouts.

And he also gets mostly high marks for later efforts to defend the Federal Reserve’s independence while holding off Republican demands for more stringent austerity spending cuts of the type that helped drive Europe to the brink of economic disaster.

Thanks, Obama! Screw you, Republicans for trying to drive us back to the brink of economic disaster.

 

[akenbennu]

Anecdotal Evidence: This time last year I was in school/unemployed. I finally landed a gig in spring as a temp-to-hire. Recently converted to full-time, great salary with fat benefits, and my boss has already said I'll be re-evaluated for a promotion end of year. Things are definitely looking up from the trenches, and I couldn't even get a call back a couple years ago.

More on the anecdotal evidence:

Been job hunting for about 3 months now, getting more interviews than when I was out of work a couple of years ago. No offers yet though.

(Not to contradict you, my last contract ended and they have a 90 day rehire policy; general consensus was "We want you back.")

 

[MagickMan]

You really should learn basic economics. Govt has a huge role to play in the economy.

It can, but not this gov't. The economy has marginally improved despite it, not because of it.

 

[werepossum]

Better Put your Helmet back on!!

His helmet may be the problem - I suspect they are strapping it on too tightly.

GOP was predicting that Stimulus would cause inflation and Obamacare would increase unemployment. Unemployment is down without wage inflation. So there.

http://www.politico.com/story/2015/01/does-obama-deserve-credit-for-economy-114107.html

Thanks, Obama! Screw you, Republicans for trying to drive us back to the brink of economic disaster.

Um, wage inflation is the kind of inflation Republicans like. Wage inflation makes more Republicans. As opposed to wage deflation which makes more Democrats looking to grab one of Uncle Sugar's swinging teats.

I'm always amused when proggies try to point out Europe, which is much more socialist and where Obama wants to take us, as symptomatic of Republican "austerity".

 

[fskimospy]

His helmet may be the problem - I suspect they are strapping it on too tightly.


Um, wage inflation is the kind of inflation Republicans like. Wage inflation makes more Republicans. As opposed to wage deflation which makes more Democrats looking to grab one of Uncle Sugar's swinging teats.

I'm always amused when proggies try to point out Europe, which is much more socialist and where Obama wants to take us, as symptomatic of Republican "austerity".

Why is that amusing? Do you know what austerity is? Hint: it is not the sum total of government spending. Austerity is the attempt to reduce government budget deficits. How large the government is is irrelevant as far as the definition of austerity goes.

But yes, Europe has been doing what conservatives said the US should have been doing. Progressives said this was a bad idea, and Obama was able to limit the amount of austerity the US engaged in. The results speak for themselves. I would think after all that you would be thanking progressives for saving you from your own bad ideas. Instead we have an attempt to redefine words to fit ideology because you can't admit the Evil Proggies were right all along.

I'm always amused when conservatives try to criticize public policies and inadvertently disclose the fact that they have no clue what they are talking about.

 

[senseamp]

It can, but not this gov't. The economy has marginally improved despite it, not because of it.

That's not what economists think.
http://www.politico.com/story/2015/01/does-obama-deserve-credit-for-economy-114107.html

Economists – on the left and right and in the middle – say the facts suggest a vastly more complex middle ground. Obama deserves significant credit for some shrewd and politically difficult moves early on his presidency, economists say, including the stimulus and the automobile and Wall Street bailouts.

And he also gets mostly high marks for later efforts to defend the Federal Reserve’s independence while holding off Republican demands for more stringent austerity spending cuts of the type that helped drive Europe to the brink of economic disaster.

Not only did he help this country recover from a recession in the early days with timely stimulus, but Obama blocked GOP's austerity attempts from sending us back into a recession.

Thanks, Obama!

 

[senseamp]

3 Million Jobs Created in 2014, best job creation year since Clinton.

 

[Matt1970]

That's not what economists think.
http://www.politico.com/story/2015/01/does-obama-deserve-credit-for-economy-114107.html


Not only did he help this country recover from a recession in the early days with timely stimulus, but Obama blocked GOP's austerity attempts from sending us back into a recession.

Thanks, Obama!

2 things: This isn't saying what you think it is saying, and we had the austerity cuts that were supposed to the "brink of economic disaster" in the form of sequestration and the economy survived it just fine. The stimulus was supposed to keep us under 8% unemployment, we hit 10%, and the auto bailouts were almost 6 years ago.

This article you keep linking to is actually kinda directed at you pal.

Does Obama deserve credit for the economy? Yes, say economists, but not as much as he’s taking

Want proof?

Wages are down, costs me less to obtain services. Thanks Obama.

 

[senseamp]

2 things: This isn't saying what you think it is saying, and we had the austerity cuts that were supposed to the "brink of economic disaster" in the form of sequestration and the economy survived it just fine. The stimulus was supposed to keep us under 8% unemployment, we hit 10%, and the auto bailouts were almost 6 years ago.

This article you keep linking to is actually kinda directed at you pal.

Does Obama deserve credit for the economy? Yes, say economists, but not as much as he’s taking

Want proof?

I guess economists are all wrong, and you are the correct one. Europe didn't survive it's austerity measures, but then again they didn't have Obama to block most of them.

 

[senseamp]

Note it's the best job creation record since Clinton, meaning that GOP couldn't create better job creation when it had full control, despite huge fiscal stimulus in form of misdirected tax cuts and not one, but two wars. It really takes skill to suck at the economy that much.

 

[senseamp]

Also, average hourly earnings are up under Obama too, including 2014:

http://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&graph_name=CE_cesbref3

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual
2006	 	 	20.04	20.16	20.13	20.22	20.30	20.32	20.41	20.44	20.48	20.57	 
2007	20.60	20.68	20.77	20.83	20.88	21.00	21.00	21.04	21.07	21.11	21.16	21.21	 
2008	21.24	21.31	21.40	21.42	21.51	21.56	21.63	21.73	21.76	21.81	21.92	21.98	 
2009	21.99	22.05	22.08	22.11	22.12	22.15	22.19	22.26	22.26	22.32	22.37	22.38	 
2010	22.42	22.45	22.47	22.50	22.54	22.54	22.60	22.64	22.68	22.74	22.74	22.77	 
2011	22.86	22.86	22.88	22.93	23.00	23.02	23.11	23.08	23.12	23.22	23.20	23.22	 
2012	23.25	23.30	23.37	23.40	23.41	23.47	23.52	23.51	23.58	23.56	23.64	23.71	 
2013	23.75	23.79	23.81	23.86	23.89	23.98	23.97	24.03	24.06	24.09	24.15	24.17	 
[B]2014	24.22	24.29	24.32	24.33	24.38	24.45	24.46	24.54	24.54	24.56	24.62(P)	24.57(P)[/B]	 
P : preliminary

With unemployment falling, wages are only going to go up. So you can pleasure yourself over the 1 month blip down if you want to, but it's likely nothing but noise.

 

[Jaskalas]

That's not what economists think.
http://www.politico.com/story/2015/01/does-obama-deserve-credit-for-economy-114107.html

Not only did he help this country recover from a recession in the early days with timely stimulus, but Obama blocked GOP's austerity attempts from sending us back into a recession.

Thanks, Obama!

Has the economy recovered then, we can start drawing down spending and reigning in the debt?

Heh, yeah... that day never comes, does it...

 

[Matt1970]

I guess economists are all wrong, and you are the correct one. Europe didn't survive it's austerity measures, but then again they didn't have Obama to block most of them.

They couldn't be all wrong because they didn't all agree. It's the ones that predicted the sequestration would bring us to the brink of economic disaster, the ones that predicted the stimulus would keep us under 8% unemployment and the ones the predicted a tax hike on earners of $400K that were wrong.

 

[Matt1970]

Also, average hourly earnings are up under Obama too, including 2014:

http://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&graph_name=CE_cesbref3

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Annual
2006	 	 	20.04	20.16	20.13	20.22	20.30	20.32	20.41	20.44	20.48	20.57	 
2007	20.60	20.68	20.77	20.83	20.88	21.00	21.00	21.04	21.07	21.11	21.16	21.21	 
2008	21.24	21.31	21.40	21.42	21.51	21.56	21.63	21.73	21.76	21.81	21.92	21.98	 
2009	21.99	22.05	22.08	22.11	22.12	22.15	22.19	22.26	22.26	22.32	22.37	22.38	 
2010	22.42	22.45	22.47	22.50	22.54	22.54	22.60	22.64	22.68	22.74	22.74	22.77	 
2011	22.86	22.86	22.88	22.93	23.00	23.02	23.11	23.08	23.12	23.22	23.20	23.22	 
2012	23.25	23.30	23.37	23.40	23.41	23.47	23.52	23.51	23.58	23.56	23.64	23.71	 
2013	23.75	23.79	23.81	23.86	23.89	23.98	23.97	24.03	24.06	24.09	24.15	24.17	 
[B]2014	24.22	24.29	24.32	24.33	24.38	24.45	24.46	24.54	24.54	24.56	24.62(P)	24.57(P)[/B]	 
P : preliminary

With unemployment falling, wages are only going to go up. So you can pleasure yourself over the 1 month blip down if you want to, but it's likely nothing but noise.

It's funny what happens to those numbers when you adjust for inflation and what not....

U.S. real (inflation adjusted) median household income was $51,939 in 2013 versus $51,759 in 2012, essentially unchanged. However, it has trended down since 2007, falling 8% from the pre-recession peak of $56,436. It remains well below the 1999 record of $56,895.