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.
On the other hand, the household survey, which is used to calculate only the unemployment rate, had a completely different result. 570,000 jobs were filled. It appears that 495,000 of those jobs have been filled by teenagers 16-19, which is to be expected.
The jobs figure is growing about 220K/mo over the last twelve months. The Fed should've already raised rates twice this year with one more increase by the end of the year.
No rate increase. Our economy is still far too weak.
It really wasn't that good of a report. U6 and U3 have been stagnant now since October. This report just shows the truth that the jobs created are people switching jobs.
No it doesn't. Switching from one job to another doesn't magically make you represent two employed people.
The stagnation is due to increase in labor force participation rate in July.
It makes you wonder....
If the economy is so good, then why are people upset & anxious about it?
If you're a poorly educated white guy, other people are prospering while you're being left behind. 1/3 of households in the United States are making 6 figures or better. They're largely college educated with 21st century job skills. The days where a C- high school kid can go get a factory job and earn middle class wages are behind us. It's someone else's fault. Immigrants. Muslims.
If you're a poorly educated white guy, other people are prospering while you're being left behind. 1/3 of households in the United States are making 6 figures or better. They're largely college educated with 21st century job skills. The days where a C- high school kid can go get a factory job and earn middle class wages are behind us. It's someone else's fault. Immigrants. Muslims.
Not true. Just under 20% are earning that much. The average family earns approx. $53,657. As for education, there are plenty of highly educated people who are woefully underemployed. Salary increases are not keeping up with inflation = money does not stretch as far as it used to.
No it doesn't. Switching from one job to another doesn't magically make you represent two employed people.
The stagnation is due to increase in labor force participation rate in July.
Our labor force participation rate has been stagnant since the beginning of this year and our unemployment rate hasn't budged one inch. Yet job growth has averaged more that 150 ,000 a month, double what is needed to keep up with labor force growth. Whoever these jobs are going to, it's not the unemployed. Currently employed people are switching jobs and picking up part time gigs. Our U3 to U6 ration deteriorated again last month. This job report is far from roses and peaches.
The long term unemployment rate skyrocketed last month and has now been stagnant for over a year. With labor force participation being identical to last year, who exactly did these 2.4 million jobs go to?
I can tell you who they aren't going to, and that is the long term unemployed. Our economy still has a loooong way to go. As long as there is this massive pool of unemployed individuals we won't see the inflation or wage growth to merit any kind of federal interest rate increase.
Not true. Just under 20% are earning that much. The average family earns approx. $53,657. As for education, there are plenty of highly educated people who are woefully underemployed. Salary increases are not keeping up with inflation = money does not stretch as far as it used to.
Just because you repeat things over and over doesn't make them true.
According to this Wall Street Journal data, 1.79% of households classify as "rich" and another 29.36% are making 2x median household income. That is 2014 data. Median household income is $53,657 so that's a threshold of $107K. Yep. 1/3 of households make 6 figures.
1/3 of the country is doing just fine. Largely, they're the ones with college educations or in the skilled trades, 21st century job skills, and who get married to their socioeconomic equals and remain married. If you're not in that category, you probably need to do some soul searching about how to change your path. The 21st century economic reality is if you don't have the work ethic and the job skills, you're seeing income erosion since you're so easily replaced. If you have the skills and the work ethic, you are in high demand and employers are often having a tough time finding people.
The long term unemployment rate skyrocketed last month and has now been stagnant for over a year. With labor force participation being identical to last year, who exactly did these 2.4 million jobs go to?
I can tell you who they aren't going to, and that is the long term unemployed. Our economy still has a loooong way to go. As long as there is this massive pool of unemployed individuals we won't see the inflation or wage growth to merit any kind of federal interest rate increase.
Long term unemployed is a huge problem, but for the most part, employers won't hire them. Even when the person has the education and qualifications, the very fact they are long term unemployed makes them "unqualified". It's too bad employers just brand them that way. No doubt lots of them would make good employees.
Short of local, state and the federal government putting them to work, most are now unemployable and will probably never work again.
The long term unemployment rate skyrocketed last month and has now been stagnant for over a year. With labor force participation being identical to last year, who exactly did these 2.4 million jobs go to?
I can tell you who they aren't going to, and that is the long term unemployed. Our economy still has a loooong way to go. As long as there is this massive pool of unemployed individuals we won't see the inflation or wage growth to merit any kind of federal interest rate increase.
It always goes up a lot in July. The seasonalized data for LTE is noisy if you look at it each month.
Probably a lot of those people who left their jobs in the establishment survey in June and were captured in the payroll systems in July. Many of them were probably workers in school systems who retired. Some of them are seeking work.
3.8 million boomers turn 65 each year. Their labor force participation rate drops from 65% to 20%. In addition, you have people turning 55-64 where the rate drops from 85% to 65%.
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.
