Unemployment numbers DROP A G A I N !

Good numbers....yeah....
 
 
The Bureau of Labor Statistics announced today that the US economy created 271,000 jobs in October, a number substantially in excess of the expected 175,000 to 190,000 jobs. The unexpected job gain has dropped the unemployment rate to 5 percent. These two numbers will be the focus of the financial media presstitutes.
 
What is wrong with these numbers? Just about everything.
 
 
 
For example, the BLS reports 44,000 new retail trade jobs, a questionable number in light of sluggish real retail sales. Possibly what is happening is that stores are turning a smaller number of full time jobs into a larger number of part time jobs in order to avoid benefit costs associated with full time workers.
 
 
Another problem with the 5% number is that it suggests full employment. Yet the labor force participation rate remains at a low point. Normally during a real economic recovery, people enter the labor force and the participation rate rises.
 
 
If the US economy were actually in economic recovery, would half of the 25-year-old population be living with parents? The real job situation is so poor that young people are unable to form households.
http://www.foreignpolicyjournal.com/2015/11/06/another-phony-payroll-jobs-number/
 
southwind said:
Propaganda numbers like the ones the BaRack administration like to report?
Again, always back to Bush. Can't you people ever admit BaRacks a  up!
Chime in when you lose your job.  We already know you are the only one that matters.
 
U-6 since 1994.
 
u6-1994-2012.jpg
 
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eolesen said:
U-6 since 1994.
 
u6-1994-2012.jpg
 
Thanks for posting that.  NOw...early on in the Obama administration, how come people were comparing this number to the glory years of Bush and saying unemployment was 5%?  
 
One thing that was missing in your timeline though....just before that spike upwards should be the notation "Republicans  cause the economy to damn near collapse".  You might have forgot about that, but it happened just prior to that "Obama takes office".  
 
KCFlyer said:
One thing that was missing in your timeline though....just before that spike upwards should be the notation "Republicans  cause the economy to damn near collapse".  You might have forgot about that, but it happened just prior to that "Obama takes office".
That would be a hotly contested political opinion, not an established fact, right? It's one that Democrats tend to believe yet Republicans might argue that it was the Democrats taking control of Congress in early 2007 that caused the Great Recession.

Not saying you're wrong - only that the labels on eolesen's chart are objective, provable facts, and the one you accuse eolesen of omitting is, at best, your opinion.
 
The deregulation of the banking industry - proposed by republicans - laid the groundwork for the eventual collapse of the economy.  Republicans tend to point and say "look who signed it" and then claim the 2007 democrats caused it, but the 2007 democrats are also accused by the right of being "do nothing".   So they were riding republican policies and did nothing...and then the economy went into the shitter.  They also like to go back as far as Jimmy Carter and say that banks were forced to make loans to people who couldn't afford them.  But I haven't seen a single line in any of those laws that forced a bank to make a "no doc" loan.    The banks were deregulated and there was money to be made...who cares who or what it hurt.   When I've asked what specifically did the 2007 democrats do that would have caused the meltdown, they usually point to Barney Frank and say that he didn't want increase regulation of Fannie and Freddie.  One guy who was in the house BEFORE 2007...but he's the reason.
 
 The republicans are very, very  good at not taking any credit for this.  That giant sucking sound created by NAFTA....a republican idea.  But...."look who signed it".  Gramm Leach Bliley takes away safeguards put in place after the great depression...."look who signed it".   
 
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KCFlyer said:
 
Thanks for posting that.  NOw...early on in the Obama administration, how come people were comparing this number to the glory years of Bush and saying unemployment was 5%?  
 
One thing that was missing in your timeline though....just before that spike upwards should be the notation "Republicans  cause the economy to damn near collapse".  You might have forgot about that, but it happened just prior to that "Obama takes office".  
 
Republicans cause the collapse from Jimmy Carters community reinvestment act that was perverted in a bipartisan way for ten or so years ?
 
Theres your problem with Bushes economy.