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Its a terrible number no matter how you spin it. Tens of millions of Americans dont have a job and you celebrate such poor numbers. When Clinton was president we were adding 300-400K jobs per month during 'full employment' and while US population was 80 million smaller than now.
What universe are you living in? This is the best economy in our history. The lowest unemployment in decades.
The Obama years are over. We're prosperous again.
Obama is the foundation for that economy.
This is the longest economic recovery ever -- 10 years -- Trump has been in for 25% of that time.
And let's be clear -- if a Democrat is chosen for President next year -- if things continue as is - -he (or she?) will be fortunate to inherit a good economy.
There you go. All is needed is a little time and patience. Jobs and wages rising the natural way.
Actually, the number of jobs was 557,000 according to the CPS and 130,000 according to the CES.
Quote:
Originally Posted by James Bond 007
Look at the chart in your link and notice the decelerating trend. 2 of 7 months so far this year have been under 100K.
That's a patently false statement.
CPS (Current Population Survey) Job Growth:
Feb +1,203,000 jobs
Mar +274,000 jobs
Apr +269,000 jobs
May +442,000 jobs
Jun +676,000 jobs
Jul +557,000 jobs
CES (Current Employment Survey) Job Growth:
Feb +438,000 jobs
Mar +624,000 jobs
Apr +1,013,000 jobs
May +764,000 jobs
Jun +1,025,000 jobs
Jul +130,000 jobs
It's always fun debunking propaganda.
Quote:
Originally Posted by Finn_Jarber
164K jobs is a good number to you?
It's a pathetic number.
It wasn't a pathetic number when it was Obama's turn.
Quote:
Originally Posted by Finn_Jarber
In the meanwhile, the DOW is more or less where is was 20 months ago. No gains.
So?
There's no relationship between the stock market and the economy.
Only 3% of US companies are publicly-traded corporations. The other 97% of US companies are S-Corps, limited liability companies, limited liability partnerships, limited partnerships or general partnerships.
During numerous recessions, the stock market not only failed to decline, it actually increased and set daily and week record highs.
During the 1952-1953 Recession the stock market doubled in value.
Quote:
Originally Posted by Finn_Jarber
No, it is not. There are tens of millions of Americans out of jobs.
Another patently false statement.
The number of unemployed is 6,556,000 which is not "tens of millions."
Quote:
Originally Posted by PCALMike
Wage growth for the typical working stiff is still very low and would be even lower if the minimum wage hikes hadnt taken place.
Another patently false statement.
Quote:
Originally Posted by Finn_Jarber
Facts are facts, whether you like them or not. LFPR is in the toilet, and this economy is not making it better.
The facts that you ignore and are totally ignorant about?
During the 1990s, Economists like Gregory Mankiw and others predicted the low Labor Labor Force Participation Rate due to shifting demographics and wrote numerous papers about it, everything from the effects on the housing market to the effects on the stock market to the effects on Social Security and Medicare to the effects on labor.
During the 1990s, the Bureau of Labor Statistics published annual reports correctly predicting the low Labor Force Participation Rate due to shifting demographics.
Each year, the 10-year and 25-year labor forecasts by BLS were published and they were right on the money about the LFPR.
If there's a reason why my 84-year old father should be forced back into work, please elaborate.
Quote:
Originally Posted by rjshae
The civilian labor total is significantly below where it was just before 2000.
Great, another who is totally uninformed and never read a single paper published by economists or the BLS predicting the lower LFPR.
The number of people age 65+ has nearly doubled since 1995.
Is your plan to drive around in a tractor-trailer, round up the elderly and force them to work at gun-point?
Why? So you can feel all warm and good about the Labor Force Participation Rate?
No, it is not. There are tens of millions of Americans out of jobs. Labor Force Participation Rate is still very bad.
We had 4% unemployment under Clinton, and kept adding 300-400K jobs per month.
The labor participation rate isn't as high as it was in, say, the year 2000, when it was an all time high of ~67%, but it is trending upward (highest since March of this year) at over 63% and has generally been trending upward since DJT was elected. Only a partisan hack would look at this jobs report and find nothing positive about it.
# on payrolls July 2018: 148,948,000
# on payrolls July 2019: 151,183,000
------------------------------------------
A gain of a fairly mediocre 186,250 per month, on average
But as I pointed out in a link earlier, the establishment survey tends to be revised closer to the household survey, so the establishment survey is likely to be revised down.
China is going to interfere BIG time in our election in ways never imagined. They're sneaky you know and liars too. Now class, who do you think they'll be rooting for? do I need to make it multiple choice?
China is retracting and is playing games with the global economy. What they intend to do is beyond our control, but be ready and aware.
It's fairly evident in most parts of the USA that things are stagnant - or down. People are working for low wages and terrible benefits. More people (millions) haven't got health care insurance coverage.
Car and light truck sales are down for the years - down every month...year to year...except July when they are expected to be stable (reporting on some brands is quarterly so they don't have the figures yet)....these stagnant or down sales are despite the lowest interest rates in years.
Housing sales? "Through June, sales of existing homes were down 2% from a year earlier, and investment in residential structures had declined for six straight quarters."
Some of you should get out more. I see a lot of people "working" in jobs that aren't paying.....car dealerships are now staffed by sales people who I wouldn't hire as a clerk at a 7-11....because they can't make any money (exception - service departments since people have to fix older cars).
It's pretty gloomy out there. And forecasts for housing prices and durable goods and other things are not great.
I think, at best, we'll see growth of these big ticket items stable.
So, effectively...what the cheerleaders here are saying is:
Manufacturing is reporting the lowest indicators in a decade...nothing is booming....BUT, people are going great, it's just that they are stashing their Billions under the mattress!
It doesn't make any sense. Use Occam's razor. That is "What seems to be....probably is". Stop reading all these numbers and trying to put them in context. The Executive Summary is that the Fed has admitted things are slow and is trying to give free money away to counter it. Debt and Deficit are increasing massively.
That's not "Great".
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