UE drops to 6.3% (employment, Clinton, borders, insurance)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Great news!! No need for unemployment handouts anymore -- and since Obama has created so many great jobs, it's time to cut the food stamps and other government handouts. Give us taxpayers a long needed break!
Why? There are still people unemployed and in need of assistance until they find a job.
Of course no one should expect the unemployment rate to change drastically in a year when Democrats are headed for a bloodbath in the midterms. Nope. Never. Just like the change in UE right before the 2012 election. Its a mere a coincidence.
Just the the bloodbath forecast in 2012. I expect one similar to that one.
It's good news, except that the end of the recession was six years ago. If we want to grow this economy and get people back to work we will need 300,000 to 400,000 new jobs each month, for a couple years straight.
Even ABC's morning report insinuated the number is basically worthless because of those who have simply dropped out.
The 288K is worthless? The percentage is what it is, and it depends on factors like the pool size (people dropping out and coming back in). It has always been the case. I look more at how many jobs are added than the percentage. If I was looking at the percentage, I'd be popping champagne, but I am not.
Status:
"everybody getting reported now.."
(set 16 days ago)
Location: Pine Grove,AL
29,543 posts, read 16,524,552 times
Reputation: 6029
Quote:
Originally Posted by Ponderosa
The drop in participation rate is somewhat surprising. The numbers come from different surveys though. In addition to the 288K, the previous two months were revised upward. There is little doubt the labor market and overall economy is improving quite nicely and will continue to accelerate over the summer, barring some unforeseen global event.
Its not just the last 2 months either. Looks like January,December,November and October got revised up as well(according to that bar chart).
It's good news, except that the end of the recession was six years ago. If we want to grow this economy and get people back to work we will need 300,000 to 400,000 new jobs each month, for a couple years straight.
Walmart plans to open 115 new Supercenters and 300 smaller stores.
It's good news, except that the end of the recession was six years ago. If we want to grow this economy and get people back to work we will need 300,000 to 400,000 new jobs each month, for a couple years straight.
I think six years puts us around the beginning of the recession, not the end. At this point companies have learned to operate with less people, and that's going to be hard to change.
The drop in participation rate is somewhat surprising. The numbers come from different surveys though. In addition to the 288K, the previous two months were revised upward. There is little doubt the labor market and overall economy is improving quite nicely and will continue to accelerate over the summer, barring some unforeseen global event.
Recovery Summer VI ?
I can go back to June/July 2009 for similar superficial optimistic headlines. Eventually the optimism might be justified. Not yet.
WASHINGTON — The deep recession wiped out primarily high-wage and middle-wage jobs. Yet the strongest employment growth during the sluggish recovery has been in low-wage work, at places like strip malls and fast-food restaurants.
In essence, the poor economy has replaced good jobs with bad ones. That is the conclusion of a new report from the National Employment Law Project, a research and advocacy group, analyzing employment trends four years into the recovery.
“Fast food is driving the bulk of the job growth at the low end — the job gains there are absolutely phenomenal,” said Michael Evangelist, the report’s author. “If this is the reality — if these jobs are here to stay and are going to be making up a considerable part of the economy — the question is, how do we make them better?”
The report shows that total employment has finally surpassed its pre-recession level. “The good news is we’re back to zero,” Mr. Evangelist said.
But job losses and gains have been skewed. Higher-wage industries — like accounting and legal work — shed 3.6 million positions during the recession and have added only 2.6 million positions during the recovery. But lower-wage industries lost two million jobs, then added 3.8 million.
Actually you've got it wrong, the only bad jobs in our economy were the overpaid, legal drones and and college trained paper pushers and number crunchers who really added nothing of value to our economy and added layers of paperwork, red tape and legal BS. That these jobs have been weeded out is a god's end and gives us hope for the future . Those low wage brome pushers, hamburger flippers or Amazon warehouse persons are at least adding some if only a little value to the great American economy.
"One cloud in today’s employment report is worker pay is stagnating. Average hourly earnings held at $24.31 in April, and were up 1.9 percent over the past 12 months, the smallest gain this year.
The drop in the unemployment rate from March’s 6.7 percent came as the agency’s survey of households showed the labor force shrank by more the 800,000 in April. The so-called participation rate, which indicates the share of working-age people in the labor force, decreased to 62.8 percent, matching the lowest level since 1978, from 63.2 percent a month earlier."
Statistics are wonderful things. They can be adjusted to prove anything.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
