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Plus turning the UE Rate around, taking it from 10.2 down to 8.2 so far, is certainly the right direction. If only we could get some of the Tnuts out of the way in Congress, the pace of recovery would speed up significantly. Not just Congress, in the individual States also, starting with Wisc in June.
My god, do you have any idea WHY the rate has come down?
It's because so many have been lopped off the UE rolls since obama has been in power. Ten of millions that WERE working are no longer working or even looking.
I haven't found a "good" take on yesterday's numbers yet.
I wouldn't put too much weight on that "babyboomers aging their way out of the labor market" argument. An increasing number of babyboomers are staying in the labor market because they can't afford to stop working.
Not according to the Social Security Administration (and they should KNOW) - the number of people taking SS early is up something like 25% (vs the expected 15%).
14.7 under eight years of Bush verus 14.2 in less than four years under Obama seems like Obama losses the numbers games. It like looking at unemployment rate just dropping and why it occurred. The numbers enterng the work force was higher than the number created ;so how can that be. But particiaption rate also drop ;lowering the numbers counted as uemployed. In fact the figure that scares many is the particiaption rate is growing to near 50%.There can be various reasons but it also includes those who sat down and are no longer looking for work. Border states also have problems with huge numbers of illegals and then numbers depend on the states popualtion also. One also has to see that even in citizens the state of Texas has alot of growth in people moving to find work. Perhaps just going on numbers some states losing large numbers of citizens because of no work avilable means a shfit that increase the numbers when they find low even mimium wage jobs. that qualfiy for ffod stamps.Texas has had most increase in population numbers but also has 7.2 unemployent rate and the number of jobs last I looked was near 50% of jobs growth in USA.J
The fact is the TREND started long before Obama and is not specific to him or his policies. It's been going on LONG before Obama was even elected and it's NOT going to turn around overnight (no matter WHO is President).
The number of folks aging their way into the workforce years IS higher than the number of folks aging their way out, if you just look at the core numbers - BUT a far lower percentage of the folks aging their way into the work actually LOOK for work - roughly half of the people reaching the "working years age" are young women - many of who have babies and stay at home (not too much of that happening in the retirees aging their way OUT of the work force - LOL). In addition, something like 40% of high school kids go on to college or other schools so their entry into the work force can be delayed 2, 4, 6 or 8 years or more. Plus you have young folks joining the military rather than entering the civilian work force. ALL those things have a combined impact on the number of young folks entering the workforce that is huge - so the numbers of young people TRULY ENTERING the workforce is FAR LOWER than the number of young people aging their way INTO the workforce years. So, even WITH all those young people reaching working age, the labor participation rate is BOUND to be dropping during the this period of time (and for a number of years into the future) as increasing numbers of Babyboomers reach their retirement years - that's simple demographics (this IS afterall the reason the GOP harps on SS all the time as being - in their words - "a ponzi scheme").
Ken
Last edited by LordBalfor; 04-07-2012 at 09:19 PM..
FWIW ken, Texas also has the highest number of the poorest counties in the US. Guess where those counties are located ? Guess the demographics of those counties ? Guess the education level of the people in those counties ?
Sure, they are probably MINORITIES - which likely means Democrat voters. So what? The POLICIES of Texas (that end up driving the local economy that results in mostly minimum-wage jobs) were put in place by the MAJORITY PARTY - which in the case of Texas is the GOP. The GOP makes the rules and the Democrat-leaning voters get the shaft. How does that justify the fact that Texas has so many poor?
Sure, they are probably MINORITIES - which likely means Democrat voters. So what? The POLICIES of Texas (that end up driving the local economy that results in mostly minimum-wage jobs) were put in place by the MAJORITY PARTY - which in the case of Texas is the GOP. The GOP makes the rules and the Democrat-leaning voters get the shaft. How does that justify the fact that Texas has so many poor?
Ken
Texas is an agricultural state..typically low paying jobs.
Not many pickers out there making the same bucks as those NE cities
My god, do you have any idea WHY the rate has come down?
It's because so many have been lopped off the UE rolls since obama has been in power. Ten of millions that WERE working are no longer working or even looking.
Sure - the Babyboomers have started RETIRING. Isn't that the argument YOU folks make all the time about Social Security being a "ponzi scheme" - that there's not going to be enough new workers coming into the market to pay for all those Babyboomers retiring? Well - those Babyboomers HAVE started to retire and are thus leaving the job market by the millions - that's just simple demographics. Doesn't change that fact that IN ADDITION to that happening, the economy created 3/4ths of MILLION new jobs in the last quarter as well and that there's been continuous job creation now for nearly 2 years - hence the UE rates are dropping. As I said, NOBODY can stop time - and the Babyboomers will age their way out of the labor market no matter who is President.
Ken
Last edited by LordBalfor; 04-08-2012 at 10:13 AM..
According to our government statistics people, they don't count people as being unemployed if they quit looking for a job. So, does this mean that if ALL unemployed people stopped looking for a job, the unemployment rate would be 0%? They've already dropped over 2 million people to get the rate from 10% to 8.2% Notice the number they never talk about, U6, it's 17%
Sure, they are probably MINORITIES - which likely means Democrat voters. So what? The POLICIES of Texas (that end up driving the local economy that results in mostly minimum-wage jobs) were put in place by the MAJORITY PARTY - which in the case of Texas is the GOP. The GOP makes the rules and the Democrat-leaning voters get the shaft. How does that justify the fact that Texas has so many poor?
Ken
There is a lot more to poverty then the politics that make the rules.
Texas has alot of poor and CA is right up there with Texas yet not many Dems comment on that. It's more than just simple politics.
Texas has 4 of the top 10 poorest counties in the US.
Texas has THE top poorest city which is actually a colonia.
Put a Dem as Governor of Texas but you won't get much change in the poverty rate unless that Governor just plans to hand out checks to people.
According to our government statistics people, they don't count people as being unemployed if they quit looking for a job. So, does this mean that if ALL unemployed people stopped looking for a job, the unemployment rate would be 0%? They've already dropped over 2 million people to get the rate from 10% to 8.2% Notice the number they never talk about, U6, it's 17%
The U6 is NOT 17%. It's 14.5% - down .4% in the last month, down 2.1% in the last 6 monghs, and down from a high of 17.2% back in October of 2009 - and it DOES count those "who quit looking for a job". If they still WANT a job - even if they are not looking - they ARE counted.
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