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Oh, wait, no, you won't get it because you don't know what you're talking about.
The UE Rate is a function of the Labor Force. The Labor Force consists of people who are employed, and those who are not employed.
People leave the work-force sometimes permanently, sometimes for the long-run and sometimes for the short-run for any number of valid reasons: retirement, education, home care, terminated, incarcerated, in hospital, disabled, etc etc.
People also enter and re-enter the work-force: First time job seekers, returning workers, re-entering workers, and transitioning workers etc etc.
Some people would prefer to sit out of a bad job market.
Guess what? The job market is better so those people re-entered the work-force and then what happened in May?
A whole bunch of college and high school students were graduated and they entered the work-force in June.
How can you not know that?
What planet are you from?
Not everyone who entered/re-entered the work-force in June got a job, but they probably got a job now and we'll find out next month how many actually did.
Yes, like the deficit spending and monetary insanity just started. Lol
984 trillion dollar debt in 2019 and I did hear Rand Paul complain about it. Didn't hear Trump complain. Didn't see Trumpies on this forum making a big deal of it. They were more concerned about the persecution of Karens.
It includes proposals to cut deficits by more than $3 trillion over a decade and lower debt levels as a percentage of the gross domestic product, but does not balance by doing away with annual deficits.
"Initial filings for unemployment insurance unexpectedly rose last week, a possible hint that the job growth could face hurdles in the months ahead, the Labor Department reported Thursday."
Actually the market is at an all-time high. That being said, I have no idea why that's so. The economy has been broken for years.
The economy is like a massive ocean liner and it takes time for it to turn a corner.
Everything now is still Trump's economy, whether you want to believe it or not. Trump crashed the economy, as Republicans always do like clockwork, and now the country is going to have to suffer. Things will turn a corner in 2023 or 2024. That's how economic cycles work. The country isn't going to come back from a recession this severe overnight. This makes 2008 look like a cakewalk.
If anything, I blame Millennials for staying home and not voting for Hillary in 2016. Obama left this country in a great, strong position with a booming economy. After four years of Trump and the damage he inflicted, we're screwed.
by your own statements, you have zero knowledge of economics.
Good lord, what an utterly absurd viewpoint to the extreme maxed out. Instead, it's the Republicans who are greatly elated and hope that it continues ALL through 2022, so they can reclaim the house and senate.
I never root for economic woes for my fellow Americans. I'd like to think the dramatic shift left of Congress, and some WH measures like the border fiasco, will be enough for folks to want to vote for change.
Trump crashed the economy. It's going to take years to get back to where things were in 2016, let alone 2019.
Elect a Republican and you are guaranteed 3-5 years of economic misery.
Please at least be even a bit intellectually honest. Unbelievable. Trump had the lowest unemployment and a hopping economy, energy independence, etc. China and their virus screwed that up. Had zero to do with Trump. Biden’s fight against oil, his reckless spending, and the perception of being incompetent are ruining tech economy just as it tries to recover from COVID.
It slowed for one data point, the overall trend has been down. This could change in the future but looking at an increase from 371k -> 373k and declaring doom is just stupid.
Quote:
Originally Posted by Eyebee Teepee
the unemployment rate has risen slightly 2x already under Biden
Quote:
Originally Posted by lieqiang
... and the unemployment rate has gone down under Biden.
See how that works? It's funny to watch extremely biased politically driven folks latching onto whatever measures they think makes their team look good and the other team look bad.
I was responding to "slowed for one data point". It's not just one data point (new claims).
If I were to be "extremely biased politically driven" then I would use silly names and pejoratives about elected leaders. Or, I might say "Oh yes - this is a horrible figure!" Neither of which you will find I've done. Or, I would never link data sources, which I do.
You are correct - the "general trend" of Feb - June unemployment is down. From Jan 6.3% (if Biden somehow gets credit for a week on the job) or Feb 6.2% down to 5.9% at end of June.
with all the vaccines, all the reopenings, etc - unemployment is down 0.3-0.4%.
Actually the market is at an all-time high. That being said, I have no idea why that's so. The economy has been broken for years.
Stock market will go higher with free money everywhere.
I'm talking about main street, not wall street.
This is going south real fast for the average male and female.
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