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Old 05-07-2010, 09:29 PM
 
69,368 posts, read 63,897,873 times
Reputation: 9383

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Quote:
Originally Posted by Smash255 View Post
I see you have nothing better to do than to tell a lie and putting words in my mouth. I was not trying to say the economy wasn't bad. It was bad and everyone knew and stated it was bad. We all knew we were in a pretty serious recession. What I said was while everyone knew the situation was quite bad no one knew or predicted the extent. While large job losses were predicted and expected no one thought we were going to be seeing losses in excess of 700,000 a month. Everyone knew the GDP in the 4th quarter of 08 was going to be quite bad, and they thought the 4th quarter earnings reports were going to be quite bad. However, the extent of how fast it was falling off the cliff, how horrid those 4th quarter 08 reports were surprised everyone. We all knew it was bad, the extent surprised everyone.
So everyone knew it was going to be horrible, just not horrible... Take off shoe, shove in mouth...
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Old 05-07-2010, 09:49 PM
 
29,970 posts, read 18,525,884 times
Reputation: 20736
Quote:
Originally Posted by Smash255 View Post
What part of more people re-entered the labor force can't you grasp??

I guess the part "I can't grasp" is that if more people are actually being hired and are working, the unemployment rate goes down.

When more people are losing thier jobs than gaining jobs, the unemployment rate goes up.

In April, the unemployment rate went from 9.7% to 9.9%. Only a liberal would celebrate that trend.
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Old 05-07-2010, 10:07 PM
 
Location: SE Arizona - FINALLY! :D
20,460 posts, read 26,243,811 times
Reputation: 7621
Quote:
Originally Posted by hawkeye2009 View Post
I guess the part "I can't grasp" is that if more people are actually being hired and are working, the unemployment rate goes down.

When more people are losing thier jobs than gaining jobs, the unemployment rate goes up.

In April, the unemployment rate went from 9.7% to 9.9%. Only a liberal would celebrate that trend.
They are celebrating the fact that over a quarter of million people got jobs - as opposed to just a little over a year ago (January 2009 - the month Obama was sworn in), three quarters of a million people LOST their jobs.

Regarding the job gains vs the unemployment rate - the numbers are RELATED but they are not JOINED AT THE HIP. They will in general move in tandem - but not at precisely the same rate so some variation happens from time to time (for reasons already explained numerous times). In a month or two the unemployment rate will fall too - and from then on out, they will likely move together.

Ken
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Old 05-07-2010, 10:09 PM
 
Location: Chicagoland
41,325 posts, read 44,824,429 times
Reputation: 7118
Quote:
Originally Posted by pghquest View Post
Ok, you keep spinning this into, "they didnt know the economy was bad".. Then WHY THE HELL WERE THEY CREATING A STIMULUS PACKAGE?
Not only that. Why were they telling us that we needed to pass it now, now, now to prevent the next great depression...and then obama took 4 days to sign it into law?
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Old 05-07-2010, 10:09 PM
 
Location: Long Island (chief in S Farmingdale)
22,130 posts, read 19,347,788 times
Reputation: 5275
Quote:
Originally Posted by pghquest View Post
So everyone knew it was going to be horrible, just not horrible... Take off shoe, shove in mouth...
You got the point, everyone knew things were getting quite bad, but the extent of the job losses, and the sharp earnings & GDP dropped surprised everyone.
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Old 05-07-2010, 10:14 PM
 
Location: Chicagoland
41,325 posts, read 44,824,429 times
Reputation: 7118
Quote:
Originally Posted by Smash255 View Post
The chart with the 8% was released in early Jan based off figures known in mid December. The last couple months of job reports were not known at that time, the 4th quarter GDP reports and 4th quarter earnings reports were not known at that time. However, shortly after the report those figures started to coming in. That is when everyone knew the extent of the damage and how fast our economy was falling off the cliff. The 8% figure were based off estimates BEFORE the 4th quarter information was out. The great depression claim was AFTER the 4th quarter information was out.
More nonsense. The December job figures were out the first Friday of January.

More selective memories from the Left.

Quote:
You got the point, everyone knew things were getting quite bad, but the extent of the job losses, and the sharp earnings & GDP dropped surprised everyone.
Wrong. Again. If one is claiming that the economy is heading for another great depression, one knows how dire the situation is. Again, you can't have it both ways.
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Old 05-07-2010, 10:19 PM
 
Location: Chicagoland
41,325 posts, read 44,824,429 times
Reputation: 7118
Quote:
Originally Posted by hawkeye2009 View Post
I guess the part "I can't grasp" is that if more people are actually being hired and are working, the unemployment rate goes down.

When more people are losing thier jobs than gaining jobs, the unemployment rate goes up.

In April, the unemployment rate went from 9.7% to 9.9%. Only a liberal would celebrate that trend.
Quote:
Originally Posted by LordBalfor View Post
They are celebrating the fact that over a quarter of million people got jobs - as opposed to just a little over a year ago (January 2009 - the month Obama was sworn in), three quarters of a million people LOST their jobs.

Regarding the job gains vs the unemployment rate - the numbers are RELATED but they are not JOINED AT THE HIP. They will in general move in tandem - but not at precisely the same rate so some variation happens from time to time (for reasons already explained numerous times). In a month or two the unemployment rate will fall too - and from then on out, they will likely move together.

Ken
There are over 2 million people that will likely be coming back into the job market that had quit looking for jobs - unless job creation can match the influx of those seeking a job, the rate will climb. That is why all the so-called experts have been saying the UE rate will hover around 10% this year.
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Old 05-07-2010, 10:21 PM
 
Location: Long Island (chief in S Farmingdale)
22,130 posts, read 19,347,788 times
Reputation: 5275
Quote:
Originally Posted by hawkeye2009 View Post
I guess the part "I can't grasp" is that if more people are actually being hired and are working, the unemployment rate goes down.

When more people are losing thier jobs than gaining jobs, the unemployment rate goes up.

In April, the unemployment rate went from 9.7% to 9.9%. Only a liberal would celebrate that trend.
More people gained jobs than lost jobs, 290,000 more in fact. What happened though is many people who gave up looking for work and were not being counted as unemployed re-entered the labor force. So while you had 290,000 more jobs the unemployment rate ticked up because the amount who re-entered the labor force was larger than that.

This is not the first time something like this has happened. in fact in Dec 07 we saw job growth, however due to those entering/ reentering the labor force outpaced the job growth, unemployment ticked up. Shortly after that, in feb 08 and April 08 we went through some job loss, but an even larger amount gave up looking for work entirely, and as such were no longer counted as unemployed. As a result despite going through job loss in both months, the unemployment rate actually dropped
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Old 05-07-2010, 10:35 PM
 
7,006 posts, read 6,972,428 times
Reputation: 7059
Quote:
Originally Posted by HappyTexan View Post
Food stamp rolls have been creating new records every month as more and more apply.

Reading between the lines it says that all these new jobs people are getting are just not cutting it anymore. Low wage jobs replacing the lost high wage jobs which have left the country.

We'll be a nation of Walmart slaves on food stamps and medicaid.
Liberals have been working hard towards that end goal, haven't they? Get everybody working meaningless jobs, because it's politically incorrect to be successful at anything nowadays -- we must all be equal, aka mediocre, so as not to offend the slow-witted and lazy folk who can't keep up -- and rely on the cradle-to-grave Nanny Government to wipe our ass.
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Old 05-07-2010, 11:05 PM
 
11,155 posts, read 15,665,365 times
Reputation: 4209
Quote:
Originally Posted by Frankie117 View Post
And the unemployment rate increased to 9.9% after 3 months at 9.7%.
I'm sure someone's pointed this out already, but the unemployment went up because people who had given up looking for work came back and started looking again (they were not being accounted for in the prior assessments).

It's actually a sign that the economy's improving. I guess a lot of people without economics backgrounds want it to be a simple soundbite, but it's really not.

Obama's opposition first said there'd be no recovery, then the much anticipated double dip, then the jobless recovery... They're running out of reasons to deny that the economy is, actually, recovering.

Last edited by Bluefly; 05-07-2010 at 11:16 PM..
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