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Crappy jobs.......and most future job growth will always be sub-par regardless who the president is by and large. Read this article posted in another thread. It sheds light on why.
Employment numbers better than expected is a good thing, although Obama can not be credited. I think his policies have actually impeded economic recovery.
The good news is, based on improved employment numbers, interest rates are expected to finally rise. I hope this is the end of the road for cheap money.
211,000 beat estimates. Now the question comes down to this, will the Federal Reserve raise the interest rate? I suspect a market readjustment afterwards but the market is already banking on it being raised.
Obama uses the same unemployment formula that Clinton and George Bush used. I think the older bush and reagan used a slightly different method though. Obama isn't cooking any books, and we may have to get used to higher U6 unemployment because our society is older. I have a lot of boomer co-workers who are semi-retiring at 62-63 and getting simple part time jobs. Sure, I bet they would like a full time job still if the pay was good enough, but that probably isn't heading their way. This type of situation inflates the U6 rate.
211,000 jobs despite him not because of him. It's telling that people think one person controls something as complicated as the economy. So as long as we're into fantasy writing we might as well credit Santa Claus for this not the president.
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