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Still, at 7%, way to high. Don't see a breakdown into the type of jobs, which would be useful. Lowest in 17 years. Bad, right?
Quote:
According to the Bureau of Labor Statistics( BLS), the unemployment rate for black Americans is the lowest it has been since the year 2000, 17 years ago.
In November, the national unemployment rate for black Americans, ages 16 and over, was 7.3%.
The last time it was 7.3% was in the year 2000, during the months September, October and November.
During the Bush and Obama years (2001 -2016), the black unemployment rate fluctuated between 7.7% and a high of 16.8%.
Since Obama lied about unemployment during his administration, I'm not sure I believe any of these numbers anymore. But I will say that during all those years they were reporting unemployment was down I heard nothing but struggles from people looking for a job and I kept questioning what was being reported. This year I'm shocked by those I know who have gotten hired in November and December alone. And they're telling me that the number of jobs being posted has been high, even during these two normally dead months.
Retailers are saying that spending is up, as well. It just feels like a more robust economy all the way around.
This recovery is more a result of gridlock during the Obama term so not a whole lot got done which is always a good thing when it comes to government, combined with zero interest rates by the federal reserve. The current success aside from an anticipated tax cut has also been a result of gridlock under Trump, so not a lot has got done. Again, that's a good thing. Democrats and republicans exist to create more obnoxious laws.. rarely do they repeal laws to give us more freedom. The best we can hope is they can't get new laws passed.
Deregulation too has played a role, too. Mostly either letting regulations expire, or not enforcing them. A good thing, cutting the regulatory jungle, any way it is accomplished.
Continuing tightening labor means businesses will face wage pressures, which will budge stubbornly low inflation and spur companies to do something about productivity. Tech spending will probably be the recipient, though some process improvement will help too.
Also saw where the NY Fed is raising it's Q4 GDP target to just under 4%, 3.98% iirrc.
All good.
Quote:
Originally Posted by stockwiz
This recovery is more a result of gridlock during the Obama term so not a whole lot got done which is always a good thing when it comes to government, combined with zero interest rates by the federal reserve. The current success aside from an anticipated tax cut has also been a result of gridlock under Trump, so not a lot has got done. Again, that's a good thing. Democrats and republicans exist to create more obnoxious laws.. rarely do they repeal laws to give us more freedom. The best we can hope is they can't get new laws passed.
The staff of that fake news site is nearly all white. Supposedly there is one token black, but we have no way of verifying that.
Good try, but a spew of so-called news from basic unknowns proves nothing. A reputable source, such as the US Labor statistics, probably tells a much different story.
Hearing the unemployment numbers always irks me because they don’t take into account those folks who have already hit their unemployment compensation max but have not yet found employment. It’s misleading as hell and solely used for political purposes by whatever guy is in office to look good. Remember when Trump said not to believe the BLS numbers because real unemployment was at 44% last year? Well, those remarks have completely vanished since he's been in the White House and he has reversed course; now he is taking credit for 17-year record low unemployment with those very same fake numbers.
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