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.
What for? According to you libs, there's plenty of jobs out there now, and you're pointing and laughing at Republicans over it. So, no need for welfare, let's get rid of it since the Dems have been so successful bringing back enough jobs that the claims are the lowest in seven years. Right?
No need for hand outs anymore, strike up the band, the Dems are going to kill the need for welfare with their fabulous job creations and economic control! Woo hoo!
The poor folks in Red states who vote GOP wont be happy about this....
You might want to check the labor participation rate and the u6 unemployment rate before telling me how great things are.
He's just doing what his handlers tell him to do.
Your estimated GDP was 0.1%.
The government changed how it calculates GDP on July 1, 2013.
The government, and numerous Liberal newspapers -- including the New York Times -- stated repeatedly that the new method will make US GDP appear to be larger than the old method of calculating, and that it will appear to be larger than what it really is.
What conclusion can you draw from those undisputed facts?
The conclusion you can draw, is that you had negative GDP growth.....your economy shrank last quarter.
That would two consecutive quarters which GDP either did not grown or shrank, meaning there's a good possibility that you are in a recession.
The OP is disingenuously attempting to distract you and others, from those facts, by harping on something as irrelevant as Weekly Unemployment Claims.......and as I have said repeatedly for years and years and years, I don't put much stock in UE claims regardless of what they are doing.
The big thing is Mass Lay-Offs, but Obama laid off the people at BLS who compile Mass Lay-Off data....
....so the federal government no longer reports it.
Quote:
Originally Posted by Winter_Sucks
You do know that those who file initial unemployment claims were just recently participating in the labor force?
Yes, we know.
Are you just now learning that?
Quote:
Originally Posted by Winter_Sucks
Well since you must cling to labor participation,....
Labor Force Participation Rate along with Employment-to-Population Ratio determines whether or not you can pay for your largesse social welfare programs.
Oh.....I forgot.....you think a good economy is 75% of the population collecting welfare benefits while the other 25% slave away.
Why don't you impress us with your analysis of your lackluster GDP growth for the last 2 quarters?
That is not correct. You are included after age 16 unless you join the military or are institutionalized. There is no upper age limit.
Better call them and tell them to update their website...
Typically "working-age persons" is defined as people between the ages of 16-64. People in those age groups who are not counted as participating in the labor force are typically students, homemakers, and persons under the age of 64 who are retired. In the United States the labor force participation rate is usually around 67-68%.
I promise I will do this even if the results to not contradict the Dems sunshine, gumdrops and roses scenario. I'm actually just as keen to see the GOP fail as I am the Democrats. But everytime I see one of these, I do the same thing: Look at the real numbers. Everytime I see a post or a news article saying that we've recovered and just as good as ever, I actually want to believe it.
So for the month of April, we dropped back down to 62.8% -- once again reaching a rock-bottom low not seen 1978. The thing that makes that number even uglier is the fact that in 1978, women were still largely on the sidelines of the United States labor force, artificially driving the LFPR down. Today, we have no such phenomenon.
What you're talking about is new jobless claims, and that doesn't tell you anything about the overall picture. Sadly, the overall picture is still pretty bleak.
The Baby Boomers were born between 1946 -1964.
The oldest Baby Boomer was born in 1946, so they reached the age of 55 in 2001.
(1946 + 55 = 2001)
Have a look at what year your LFPR chart below reaches it's peak, and then begins to decline?
Labor Force Participation Rate
Percent or rate of working age Americans who are employed
Age 16 years and over
Notice how the decline continues to drop even faster as more and more Baby Boomers reach age 55?
The fact that retiring Baby Boomers were going to cause the LFPR to drop has been known for a long time.
Baby Boomers and Their Children Affect The Labor Force
The most significant change highlighted in the study is the aging of the large baby boomer generation (those born between 1946 and 1964). There are just over five million baby boomers in New York State in 2006, according to U.S. Census Bureau statistics. As they mature, there will be 400,000 more people aged 55-64 in New York over the next decade.The change is expected to depress overall labor force participation rates in the state and nation.
733,000 fewer people unemployed, U3 drops by .4%. Whoopee!
Except.....
The civilian labor force decreased by 803,000 people. 803,000 people quit trying to find work. When you quit trying, you are no longer "unemployed." We actually have ~73,000 fewer people working than we did last month according to the BLS household survey (source: http://www.bls.gov/web/empsit/cpseea01.pdf )
According the above linked data table, we have 3 million more people employed than we did a decade ago. Sounds good until you consider that we have 24 MILLION MORE PEOPLE OVER AGE 16!
24 million people have hopped in the boat but in the last decade but only 3 million of them are currently rowing. No wonder those of us who have been rowing the whole time are getting tired.
I retired.
I'm not looking for any work. I've done enough.
That makes me one of the 803,000.
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.
