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Old 12-06-2013, 08:47 AM
 
77,956 posts, read 60,134,595 times
Reputation: 49319

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Quote:
Originally Posted by dsjj251 View Post
so Bush lied about the jobs numbers for 8 years ?
The definition of "unemployment" has been tinkered with as have many other metrics.

So yeah, Bush, Reagan, Bush 1, Clinton and Obama have all put some "spin" on various measures over the years.

Graph: Unemployment rate (seasonally adjusted)

The biggest issue is the people leaving the labor pool so to cite just the unemployment rate as some key victory is absolutely a smokescreen.

P.S. Bush is gone, even if someone is partisan and thinks Bush was perfect....it doesn't invalidate the fact that the partisan loyalists to Obama are either blindly or intentionally buying in to what would best be called a "half truth" about the employment picture in the US.
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Old 12-06-2013, 08:56 AM
 
Location: Denver, Colorado
1,975 posts, read 2,346,918 times
Reputation: 1769
Quote:
Originally Posted by Goodnight View Post
This is great news, unemployment at a 5 year low, long ways to go but very positive indicator.


US Unemployment Falls to 7 Pct. on 203K Jobs Added - ABC News
Yes, good news. We need to extend unemployment benefits and stop the SNAP cuts, it amazes me that the Senate proposed any cuts to SNAP.

http://www.nytimes.com/2013/12/07/bu...rssnyt&emc=rss

The Federal Reserve is also quick to ease back its stimulus efforts, which doesn't seem prudent to me.

'That’s because the Federal Reserve seems poised to begin slowly easing back on its stimulus efforts. While the move had been expected in September, it was put off amid mixed economic data instead of the sustained signs of improvement policy makers want to see. The delay by the central bank caught Wall Street off guard three months ago.

But the spate of recent positive data, economists said, could bolster the case for the Fed to start pulling back in the coming months. The latest figures on hiring follow more robust data for economic growth and jobless claims on Thursday and a report on Monday showing increased activity at factories.
While welcome news for job seekers, a healthier labor market is likely to be viewed more warily by investors and traders, at least in the short term.

Stronger economic growth and employment gains should bolster corporate earnings and therefore stocks over time, but speculators fear a quick Fed tapering could sap the stock market’s recent momentum. The Standard & Poor’s 500-stock index is up more than 25 percent in 2013. Stocks were higher in early trading on Friday, with the S.&P. up about 0.8 percent.

Although the holiday shopping season seems to have gotten off to a mixed start, the retail sector added 22,000 jobs last month. Manufacturers, a sector that is closely watched as a bellwether for the broader economy, hired 27,000 workers. And the overall participation rate rose 0.2 percentage point to 63 percent, reversing a decline in recent months.

Even as the overall unemployment rate fell, the situation does remain desperate in some pockets of the labor market.

For example, the unemployment rate among workers aged 16 to 19 remains above 20 percent. And for workers with less than a high school diploma, the jobless rate stood at 10.8 percent. '
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Old 12-06-2013, 09:00 AM
 
Location: Pine Grove,AL
29,453 posts, read 16,400,245 times
Reputation: 5958
Quote:
Originally Posted by malamute View Post
It's just like the sequester --- the liberals claimed it would harm the economy but the reverse happened.

The shut down didn't collapse the economy --- as they claimed it would and now following the shut down and the cut in food stamps, the economy is doing very well, unemployment rates have fallen very nicely.

Cuts do help.
Harm the economy is not the same as causing a recession(which is what you seem to be assuming)

Democrats were arguing that we could have created more jobs and grew our economy more if not for the sequestration.

Democrats also did not say a shut down would collapse the economy, you are thinking about defaulting on the debt which is a completely different argument all together.

Also, you are linking economic progress with cuts to food stamps when their is no proof that either is connected. You are arguing a correlation/causation effect with nothing to actually bridge the gap.
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Old 12-06-2013, 09:04 AM
 
Location: Pine Grove,AL
29,453 posts, read 16,400,245 times
Reputation: 5958
Quote:
Originally Posted by Mathguy View Post
The definition of "unemployment" has been tinkered with as have many other metrics.

So yeah, Bush, Reagan, Bush 1, Clinton and Obama have all put some "spin" on various measures over the years.

Graph: Unemployment rate (seasonally adjusted)

The biggest issue is the people leaving the labor pool so to cite just the unemployment rate as some key victory is absolutely a smokescreen.

P.S. Bush is gone, even if someone is partisan and thinks Bush was perfect....it doesn't invalidate the fact that the partisan loyalists to Obama are either blindly or intentionally buying in to what would best be called a "half truth" about the employment picture in the US.
How has the definition of Unemployment been tinkered with ????

I have not "dove" deeply into these numbers yet, but if LFP went up, wouldnt that mean more people entered the labor force than left it ?

P.S. Bush being gone does not change my argument that people on the right blindly and intentionally buy into what they perceive as the truth or lies based on political bias about the employment picture of the U.S.

Update: When most of us Left of Center people mention Bush, it has more to do with him being a Republican and talking about political hypocrisy and bias than him being Bush.
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Old 12-06-2013, 09:06 AM
 
14,293 posts, read 9,649,593 times
Reputation: 4254
Quote:
Originally Posted by malamute View Post
We should all be glad for this news. Now there should be no talk of more unemployment extensions. It's time for all to get back to work. End all those tiers after tiers -- all that nonsense.

7% unemployment rates means it time to stop a lot of the handouts and if people want money, they need to work for it.
One would think so, eh? Get rid of the extended unemployment compensation, happy days are here again.

Then again, I just might wait until the number up people getting a job outnumber the people signing up for Food Stamps or SSDI.
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Old 12-06-2013, 09:09 AM
 
Location: Too far from home.
8,732 posts, read 6,766,178 times
Reputation: 2374
Quote:
Originally Posted by florida.bob View Post
I didn't know that

No surprise there bob.
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Old 12-06-2013, 09:38 AM
Status: "On the road with Kid Charlamagne" (set 10 days ago)
 
8,018 posts, read 5,814,408 times
Reputation: 9656
Quote:
Originally Posted by dsjj251 View Post
The number is an estimation based on a survey of a representative sample.

However, the other numbers (203,000) are based on employment rolls, companies actually report in for the most part and that is how they come to those conclusion.

Also, no one is asking you to take it as gospel, but from my perspective, it looks as though believing it or not is based on politics rather than skepticism of government in general.
But government's behavior -- regardless of which party is in office -- is what makes me skeptical. They've done very little to make me NOT skeptical, actually.
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Old 12-06-2013, 09:44 AM
 
58,718 posts, read 26,998,537 times
Reputation: 14163
Quote:
Originally Posted by LordBalfor View Post
Yada, yada, yada - same old denial nonsense.
SSDD
None of of which changes the reality that the economy continues to heal.


Ken
"Yada, yada, yada - same old denial nonsense." that is about the height of your ignorance.

My grand kids could come up with a better reply.

A simple question for you since you seem to know all about unemployment statistics. how many time have the numbers been corrected AFTER the initial claims?
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Old 12-06-2013, 09:46 AM
 
Location: Pine Grove,AL
29,453 posts, read 16,400,245 times
Reputation: 5958
Quote:
Originally Posted by ntwrkguy1 View Post
But government's behavior -- regardless of which party is in office -- is what makes me skeptical. They've done very little to make me NOT skeptical, actually.
But what have they done that makes you skeptical in the first place ???
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Old 12-06-2013, 09:49 AM
 
Location: Long Island
56,986 posts, read 25,952,358 times
Reputation: 15492
Quote:
Originally Posted by nononsenseguy View Post
Balony. The figure ignores all those who have dropped out of the labor force. It is not the true unemployment figure, which is still around 14% or more.
Did you get those facts from the DOL website or are we changing the definition of umemployment.
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