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Oculus Spirit [97703]
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Unemployment rate dropped to 5.3%. A 7 year low!
Jul 2, 2015, 1:03 PM
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223,000 jobs were added! Our recovery roars on.
Oh, but 640,000 people stopped looking for work and dropped out of the labor force altogether. Keep in mind, they're not unemployed, they just have no job and are not looking for one.
Put another way....
If all 640,000 people started looking for jobs, and we added 223,000 jobs, the unemployment rate would INCREASE roughly three times what it decreased. So instead of falling to 5.3% from 5.5%, it would have increased from 5.5% to 6.1%. But remember, these folks not looking for work and have no job are not "unemployed".
The unemployment rate is a meaningless figure.
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Rock Defender [53]
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Re: Unemployment rate dropped to 5.3%. A 7 year low!
Jul 2, 2015, 1:09 PM
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I agree that it's a questionable way to measure unemployment, but has the method of measuring employment changed?
What I mean is, is it still a reasonable method to judge other administrations against?
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Oculus Spirit [97703]
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What has changed is an exodus from the labor force
Jul 2, 2015, 1:18 PM
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for the last decade. But no, it has never been a good measurement of unemployment.
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Hall of Famer [24746]
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Decade...? You skip the nineties?***
Jul 3, 2015, 12:05 AM
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Oculus Spirit [97703]
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No, I didn't.
Jul 3, 2015, 10:23 AM
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But it is actually more like 15 years.
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Heisman Winner [111519]
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Re: No, I didn't.
Jul 4, 2015, 10:25 PM
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oddly the baby boomers started leaving the job market in the late 90s due to retirement and that trend has continued, which accounts for some of this dip since early 2000. And certainly a lot more people have been forced to retire earlier and at their own peril since the 2008 economic downturn. And of course we have a generation of 20 somethings whose unemployment rate is at about 15% due to lack of opportunity from aging workers taking these lesser paying jobs out of necessity. Regardless, this is a trend that started in 2000, and was exasperated by the crash of 2008.
I will concede that actual unemployment of 5.5% is not accurate, but then again you can make the same claim of unemployment rates under Dubya's last term, thus the claim of 7 year low is probably not that far off.
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Heisman Winner [119687]
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All-In [40925]
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they provide more jobs than anyone
Jul 2, 2015, 8:17 PM
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and they are good jobs with excellent benefits and great pensions
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Hall of Famer [24746]
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And let's all praise capitalism... The problem with that is
Jul 3, 2015, 12:18 AM
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most are either military or unionized, so the traditional rant against socialism is specious at best. And having all their medical and retirement government backed is considerably more secure than almost any private corporation job. Of course, a vast number of 'private sector' jobs are HS or DOD funded contracts posing as part of the real economy. War and the 'War on Terror' is an economy of its own.
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All-In [31887]
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What %?***
Jul 3, 2015, 3:52 PM
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Hall of Famer [24746]
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"State secrets... We can't disclose that information."***
Jul 4, 2015, 11:18 AM
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All-In [31887]
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Do you realize hoe crazy you're sounding?....
Jul 4, 2015, 3:41 PM
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Somehow you knowthe vast majority of jobs are tied to DOD contracts (or whatever you said) but you can't tell me how many because it's a state secret..which begs tbe question...how do you know?
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Heisman Winner [111519]
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All-In [34105]
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Since 2008, the slowest sector to add back new jobs
Jul 3, 2015, 10:23 AM
[ in reply to The gubmint has no bidness measuring ] |
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was the public sector. So anyone crying about jobs not coming back shouldn't also be asking for smaller government, because the one was caused by the other.
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Walk-On [126]
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Smaller Government means eliminating jobs, not adding
Jul 4, 2015, 9:43 PM
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Government is a necessary evil. therefore it must remain small.
Those paychecks, benefits & retirements are paid for by the private sector.
The more paid by the private sector means the less money available for private jobs.
Also when government borrows money to pay for needless jobs (jobs that do not create anything that contributes to the economy), that borrowing comes out of the economy at a later time. Mortgaging the future for the present, which lengthens the recession by taking even more money out of the economy at the later date.
If government spending creates wealth and a good economy every nation should be wealthy.
That would be the easiest thing to do. Just print money & hire people.
Money has to come from somewhere.
After FDR terms, his top economic man wrote that 10 years of massive government spending not only did not help the economy but it actually lengthen the recession. Mortgaged the future for the present
After the market crash, unemployment spiked at 9.5%, then started falling to 6%. Then Government decided to step in & “Help” and the unemployment shot up into double digits and remained there for a decade.
Capitalism has allowed more people to pull themselves out of poverty than any other system. Just a fact. Like it or not.
That is why so many people have come to the USA. At least it was
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All-In [31887]
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I think it's only valid for comparison if it is adjusted...
Jul 2, 2015, 4:54 PM
[ in reply to Re: Unemployment rate dropped to 5.3%. A 7 year low! ] |
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for a labor participation baseline. Otherwise, it's almost meaningless for comparison's sake now too.
When the labor participation rate was relatively steady, it was a decent measure.
As an exercise, adjust the current unemployment rate to a Bush II era participation rate. I believe you'll find the unemployment rate move a number of points. Admittedly, it's been some time since I did that, but I believe you might find the adjusted unemployment rate to be between 8-10% with today's numbers. When last i did that, the adjust unemployment rate moved from about 6.5% to 12% or so if memory serves.
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Hall of Famer [24746]
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Nothing like a good war... Just ask Cheney or Rummie....***
Jul 3, 2015, 12:20 AM
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All-In [31887]
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You're a bit of a 1 trick pony lately....
Jul 3, 2015, 2:08 PM
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War is not the answer to all discussions on here.
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Hall of Famer [24746]
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Just the false economy... We don't ship weapons develop
Jul 4, 2015, 11:21 AM
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overseas.
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All-In [31887]
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English please?***
Jul 4, 2015, 3:38 PM
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110%er [7390]
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How PG-13 of you. I thought for sure your post would be fill
Jul 2, 2015, 1:10 PM
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-ed with derogatory @deroberts -esque commentary about the laziness of the population.
Instead it's almost as if you're praising the former blue collar workers that have wised up & decided to say, "Eph that manual labor isht, I'll just borrow money & sit on my #### 'til I graduate & get a desk job.". Is that what you're condoning? I sure hope so cuz if you think I'm going outside to work in this heat you're out of your cotton-sniffing mind.
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110%er [6634]
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All-In [40925]
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no need to look for work just use obama money!***
Jul 2, 2015, 8:15 PM
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