155K New Jobs in NOV, UE Rate 3.7%, Long-Term Unemployed Down by 120K, 27K New Manufacturing Jobs

Discussion in 'Politics' started by mikegriffith1, Dec 9, 2018.

  1. mikegriffith1
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    mikegriffith1 Mike Griffith

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    For those who care about reality, about our quality of life and our economy, the Labor Department's BLS employment situation summary for last month (November) was released a few days ago. Some highlights:

    * The economy added 155,000 new jobs.
    * The number of long-term unemployed persons dropped by 120,000.
    * The unemployment rate remained at the 3.7%, one of the lowest rates in decades.
    * 27,000 new manufacturing jobs were created.
    * Average hourly wages rose by 6 cents, which equals an extra $9 per month--keep in mind that we're talking about a one-month increase. Over the last year, wages have risen by 3.1%, 81 cents per hour, for an increase of about $140 per month.

    Here's the full report: https://www.bls.gov/news.release/pdf/empsit.pdf
     
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  2. JGalt
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    JGalt Platinum Member

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    Obama didn't build that. Someone else made that happen. :biggrin:
     
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  3. MarathonMike
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    MarathonMike Platinum Member

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    You wonder how different things would be if we had a reasonable Media and a reasonable losing Party who actually acknowledged success, progress and growth.
     
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  4. BlackFlag
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    BlackFlag BANNED

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    The 10 year trend continues, hmm? Give Trump some more time. This will be his most glorious bankruptcy ever.
     
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  5. Norman
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    Norman Gold Member

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    Trump has one hell of a magic wand.
     
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  6. Daryl Hunt
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    Daryl Hunt Gold Member Gold Supporting Member Supporting Member

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    No real change in part time workers wanting to go full time. And when I look around here, the average they are using of over 27 bucks an hour wage is well above what is real for the average worker. There is a difference when you use the Mean versus the average. In reality, if you take the Mean, you end up with closer to 15 bucks an hour where MOST are making less than 15 bucks. And we all know that 15 bucks is about the bare minimum you can hope to survive on (not live on). They are painting a picture where they aren't telling the whole truth.
     
  7. JGalt
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    JGalt Platinum Member

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    The GDP is currently at 4.2% too. The average annual growth rate was only 1.48% during Obama's presidency, which was the weakest of any expansion since at least 1949. Obama was the only President to have not had even one year of 3% GDP growth.
     
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  8. Daryl Hunt
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    Daryl Hunt Gold Member Gold Supporting Member Supporting Member

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    Obama was handed a job of not allowing the GDP to go into the negative numbers. Now, I can't blame Bush, Jr. on this one. His bunch put together a 733 billion package to head it off in 2003 but congress laughed him right off capital hill. Well, 2009 comes and it now took a 1.X Trillion dollar package to do the same thing. The real fault goes to congress and both parties. The Uber Rich getting more Uber Rich at the cost of the workers has become the norm. The UBER Rich goes for the short term huge profits and the future be damned. That is NOT what was taught to Business Admin types 40years ago. But it's the accepted norm today. And the Uber Rich still demand that the rest of us bail them out when they get in trouble or get the public in serious trouble. We need the Uber Rich to be held accountable when they do this crap.
     
  9. mikegriffith1
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    mikegriffith1 Mike Griffith

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    The "10-year trend"?! Not on this planet. We had a net loss of manufacturing jobs under Obama, whereas we've seen huge gains in this key area under Trump. The number of long-term unemployed has dropped substantially under Trump. Wages were nearly flatline under Obama, but wages have risen substantially under Trump.
     
  10. Daryl Hunt
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    Daryl Hunt Gold Member Gold Supporting Member Supporting Member

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    The losses started in 2003 and were at it's highest in 2008. Obama inherited it. And it wasn't Obama nor was it Bush Jr.. It was Congress starting under Reagan that removed a lot of Regulation that allowed Wall Street and the Banks to go for very short term profits and gut the system. The same thing happened in the 1920s and we all know where that led to.
     

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