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U.S. Adds 284K jobs in January

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R

RavenSEAL

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Bringing down unemployment to 8.3%, per CNN twitter.

Official White House Chart:

January was the 23rd consecutive month of job growth: http://ofa.bo/8Vpg5x


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Closing thread with ok from OP, not exactly a repost as the OP posted this at 9:06am versus the other thread that was started at 9:05am but we need to have just one thread on the same topic.

Administrator Idontcare
 
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Meh.

Could we have the normal job growth rate listed?

The only other thing that may ruin this good news would be asking what these jobs were? Eliminating 500K jobs in manufacture or higher and getting 700K new workers for Fast Food restaurants and WalMart "aides" is not a good thing... 🙁
 
Ninjahedge said:
Meh.

Could we have the normal job growth rate listed?

The only other thing that may ruin this good news would be asking what these jobs were? Eliminating 500K jobs in manufacture or higher and getting 700K new workers for Fast Food restaurants and WalMart "aides" is not a good thing... 🙁
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Actually, the manufacturing sector was one of the fastest growing areas.
 
This was a decent number. They also revised the job numbers upward for December and November which is good. But as I've posted before we really need to hit 350-400k every month to make meaningful progress against unemployment.
 
Glad it's moving in the right direction. I don't see where anything Obama did caused it to happen, but fine with allowing him to take credit. And even with this uptick, I'm unsure if it will be enough to re-elect him; if I were a Democrat I'd be a bit nervous about whether this rate of growth meets the absolute minimum expectations of voters.
 
Our employment stats have been skewed for a long time.

The fact that we do not count anyone not on the unemployment roles, do not count "underemployed", and have changed the length of UE benefits, comparing the stats to other periods, or even simply looking at them now does not reflect the number of people out of work.

I am not going to turn this on one politician or another, as this problem was a long term in developing (with a shift in our own demographic because of a prolonged bubble in the construction/real estate sector). I am more interested in what needs to be done to foster more growth. What are we missing, and what can people do that we NEED.
 
Texashiker said:
You want to know what is sad, when 284k jobs makes the news, but foxxcon in china can hire 100,000 people.

The entire US adds 284k jobs.

A single company in china adds 100k jobs

http://au.ibtimes.com/articles/291486/20120202/iphone-foxconn-hiring-jobs-5-apple.htm

And that is what free trade does.

In the overall picture of things, 284k jobs aint crap.
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Yeah, and those jobs that single company in China is making are so terrible that people hurl themselves off the roof every now and then. Foxconn is not a good model to emulate.

In the overall picture as monthly gains go, 284k jobs is a solid number.
 
dmcowen674 said:
But but but under Bush we were losing 400,000 jobs a month
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And bush sr, clinton, and bush jr are the reasons why the US is in this situation.

Could we imagine what would happen if foxconn was forced to build a few plants in the US, hire people at a decent wage, and those record profits Apple made were distributed to American workers.

If 284k jobs was enough to drop the overall unemployment rate, what would 500k jobs and several factories do?


eskimospy said:
Yeah, and those jobs that single company in China is making are so terrible that people hurl themselves off the roof every now and then. Foxconn is not a good model to emulate.
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I think things would be a little different if those factories were regulated by US labor laws.
 
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Texashiker said:
And bush sr, clinton, and bush jr are the reasons why the US is in this situation.

Could we imagine what would happen if foxconn was forced to build a few plants in the US, hire people at a decent wage, and those record profits Apple made were distributed to American workers.

If 284k jobs was enough to drop the overall unemployment rate, what would 500k jobs and several factories do?




I think things would be a little different if those factories were regulated by US labor laws.
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Yes, yes we can imagine. The phone would be significantly more expensive, Apple would't sell nearly as many, nor would they make nearly as big a profit (if they made a profit). Include in the shipping, since one plant doesn't 'make' the phone, but require dozens..

I swear you don't think any of your posts through. You can't just wave a wand and move a plant to the US and ignore all the costs that it entails and say 'that'll fix it'.
 
eskimospy said:
True, but then they would be sacrificing a good chunk of their competitive advantage too.
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What competitive advantage?

Apple would have to pay better wages, which would cut into its mountain of money.

http://www.foxbusiness.com/technolo...-faces-first-test-with-massive-cash-mountain/

Apple has $46 billion, referred to as a "mountain of cash".

Why not build some factories in the US and pay people a liveable wage.


Pulsar said:
The phone would be significantly more expensive,
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That is fear mongering.

Apple would have to reduce its profit ratio. Instead of making $46 billion, apple might only make $30 billion.

Could you imagine what $16 billion in wages would do to the US economy, and at the same time apple would making some good money, but only 30 billion instead of 46 billion.
 
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eskimospy said:
Actually, the manufacturing sector was one of the fastest growing areas.
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Makes a lot of sense, the weak dollar has really helped steel industry and manufacturing.

Currently Caterpillar is buying up auctioned equipment to refurbish and send overseas the demand as that strong. So while construction is still in a depression construction equipment auctions aren't being flooded with supply and auction prices are doing quite well.
 
Ausm said:
+1

Which I love! To bad President Obama didn't listen to the GOP and let the American auto Industry go down the shitter....
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He should have. The other car companies would be doing even better if the two crappy car companies would have been closed down.

But I guess your all for corporate welfare when the UAW is involved.

We're still out what? 30+ billion dollars. And one american car company was given away. (chrysler is now owned by Fiat, so they arent domestic)
 
michal1980 said:
He should have. The other car companies would be doing even better if the two crappy car companies would have been closed down.

But I guess your all for corporate welfare when the UAW is involved.

We're still out what? 30+ billion dollars. And one american car company was given away. (chrysler is now owned by Fiat, so they arent domestic)
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Are you really this ignorant or are you just pretending? Do you realize how many facets of the manufacturing industry directly support the Auto industry? Do you want all those businesses to fail too?

/facepalm X 10
 
Texashiker said:
That is fear mongering.

Apple would have to reduce its profit ratio. Instead of making $46 billion, apple might only make $30 billion.

Could you imagine what $16 billion in wages would do to the US economy, and at the same time apple would making some good money, but only 30 billion instead of 46 billion.
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That translates to about 160,000 jobs. It wouldn't make a dent.
 
michal1980 said:
He should have. The other car companies would be doing even better if the two crappy car companies would have been closed down.

But I guess your all for corporate welfare when the UAW is involved.

We're still out what? 30+ billion dollars. And one american car company was given away. (chrysler is now owned by Fiat, so they arent domestic)
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When government action fails it is viewed as proof that government action doesn't work. When government action succeeds, it is said that things would have been even better had it not.

Can you provide a set of circumstances in which the government would take action where you would acknowledge evidence of a superior result from it?
 
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