2.2% drop in unemployment enrages Republicans.

[RKMBrown]

The Great Recession caused by Republicans plus 10,000 Baby Boomers retiring every day tend to increase the government dole. How about comparing able bodied working age people on the government dole at the beginning & end of Bush & Obama's terms.

Remind me again, when did the democrats take both houses? Was that in 2006?

Wrong again. It was 2007.

Remind me again when Bush found his Veto Pen?

Bush was a socialist war hawk, no child left behind, medicare expansion, .. a RINO. A PNAC RINO.

But yeah thx that explains why the recession hit within a year of the dems taking congress. Congress holds the purse right? Congress manages things like checking on the banking system and such right?

 

[Mad Scientist]

Eventually NO ONE will be looking for work so there'll be NO Unemployment!
Ta dah! Like magic!

Weird, you'd think 8 years of 'job creator' policies Dubya/GOP used, the economy would've been booming upon Obama arrival, instead of going off the cliff

Next time I'll put the sarcasm tag in there.

By the way, Obama and Bush are on the same team.

 

[edthecynic]

You can quibble with the stats - but as long as we are comparing apples to apples - then unemployment IS dropping.

As fast as I would like? Nope
At wages I would like? Nope

But it IS improving and when one political party has hitched their wagon to "EVERYTHING SUCKS" then a cottage industry of "Things are worse than you think" springs up.

I don't blame the devotees for doing whatever they can to grind their ax. I blame those who swallow it without checking under the hood.

No you're wrong, the statistics are completely misleading because they don't take into account all the people who have simply given up looking for work. The opportunities just aren't there, and everyone knows it. The real unemployment figures are probably far in excess of 10%.

Actually the BLS keeps track of the number of discouraged workers and calculates the UE rate with them included, it is called the U-4 rate and it is presently at 6.5%

 

[edthecynic]

Taking into account that Bush Jr left office January 20, 2009 & that the Obama Administration’s cabinet was finalized & approved by Congress in February 2009 at which time the unemployment rate was 8.3%.

By my calc with today’s July 2014 news of 6.1% unemployment rate means a drop of 2.2% in unemployment & dropping fast.
.

My Reference on the February 2009 unemployment rate: Graph: Unemployment rate (seasonally adjusted)
.
My Reference on the present 6.1% & dropping fast unemployment rate that upsets Republicans: ? Fox Business Host Actually Whines On Twitter About Low Unemployment Rate, Thinks It?s Bad For Economy
​

Best Regards
Lobato1

The republicans force the democrats to end unemployment extensions that were paying people to stay unemployed for 2years... the democrats screamed bloody murder about it for years. Then after the republicans get their way and the unemployment extensions are cut off, the unemployment goes down those folks get paid to sit for two straight years remaining on the permanently unemployed line. Then the democrats take credit for what the republicans did.

You can't scream bloody murder about something the republicans force you to do then try to take credit for it afterwards.

Additionally, a good number of those permanently unemployed people got onto the permanently disabled welfare line by taking advantage of Obama having killed the welfare reforms clinton put through.

Total BULLSHIT!

The extensions automatically cancel when the UE rate comes down, so when UE fell below 9% the Tier 4 extension that gave up to 99 weeks ended on its own. The Tier 3 extension ended when UE rate fell below 7%. Both of those extensions ending had nothing to do with the GOP, who have done everything they could to keep UE as high as possible.

The only extension the GOP have spitefully cancelled is the Tier 2 extension of 14 weeks when the UE rate is over 6%.

The reality is the GOP does everything to keep UE high and when the UE rate comes down in spite of their efforts to keep it high, they try to take credit for it. The GOP are the scum of the Earth!!!

 

[edthecynic]

Gee, what a totally dishonest Disability chart. No surprise there, it came from Invested Bigots Daily!
It never occurred to you to see what the trend was before 2009 with 2 wars going on. An honest person would expect the sharp increase to have started then, and so it did!!!! It started up with Bush"s wars and then went up sharply with Bush's Surge! Bush's sharp rise is coming down now that Obama has ended the Bush wars and the trend has been down the last three straight years!!!

 

[pinqy]

You can quibble with the stats - but as long as we are comparing apples to apples - then unemployment IS dropping.

As fast as I would like? Nope
At wages I would like? Nope

But it IS improving and when one political party has hitched their wagon to "EVERYTHING SUCKS" then a cottage industry of "Things are worse than you think" springs up.

I don't blame the devotees for doing whatever they can to grind their ax. I blame those who swallow it without checking under the hood.

No you're wrong, the statistics are completely misleading because they don't take into account all the people who have simply given up looking for work. The opportunities just aren't there, and everyone knows it. The real unemployment figures are probably far in excess of 10%.

So, I think we can agree that someone trying to get a job has a chance of getting a job. But who is more likely to get a job: someone who stopped looking because they decided they don't need one, someone who, due to school or illness or family care can't take one, or someone who gave up? The answer is that none of them can be hired. So why would you want to classify those who gave up as unemployed? What would that tell you about how hard it is to actually get a job?

 

[Flopper]

Taking into account that Bush Jr left office January 20, 2009 & that the Obama Administration’s cabinet was finalized & approved by Congress in February 2009 at which time the unemployment rate was 8.3%.

By my calc with today’s July 2014 news of 6.1% unemployment rate means a drop of 2.2% in unemployment & dropping fast.
.

My Reference on the February 2009 unemployment rate: Graph: Unemployment rate (seasonally adjusted)
.
My Reference on the present 6.1% & dropping fast unemployment rate that upsets Republicans: ? Fox Business Host Actually Whines On Twitter About Low Unemployment Rate, Thinks It?s Bad For Economy
​

Best Regards
Lobato1

It is dropping fast, but it is also true that many people stopped looking for work and are actually no longer showing up in those numbers. The good thing is that with the economy picking back up, a lot of these people will find their way back into the work force in the near future. Despite everything Republicans have done to thwart any economic growth, things are starting to really move forward in a positive way.

I agree, however the "real unemployment rate", U6 is unlikely to ever reach it's previous lows, of 6.5% in 1999 or 7.5% in 2007. It stands now near it's previous peak of in early 90's. The problem is that the labor markets have changed drastically over the last 15 or 20 years. We have millions of people that held down good jobs before the recession, that will never have a full time job again. Businesses have become much more competitive in order to compete with overseas firms and produce the profits investors demand. There is no room for yesterdays heroes, young employees with no experience, or workers that have become less productive as they aged.

I have a friend in his 50's who worked as a bank vice president till he was laid off in 2007. Because of his age, health, and lack of advanced education, he has never found a permanent job. So he works part time at Home Depot hoping he can make it to retirement age. My grandson's room mate graduated in business administration 2 years ago. So far he's had a job repossessing cars, working part time at a fast food restaurant, and telemarketing. His basic problem is he's just an average guy, no special skills, average grades, and average intelligence. There are millions of people out there that are just like these people, just average people, not brilliant and not particular ambitious. The kind of employee, that no employer wants today and that's not likely to change.

 

[KissMy]

Remind me again, when did the democrats take both houses? Was that in 2006?

Wrong again. It was 2007.

Remind me again when Bush found his Veto Pen?

Bush was a socialist war hawk, no child left behind, medicare expansion, .. a RINO. A PNAC RINO.

But yeah thx that explains why the recession hit within a year of the dems taking congress. Congress holds the purse right? Congress manages things like checking on the banking system and such right?

President Bush killed CFPB regulation created by Clinton in the law that killed Glass Steagall. Bush pushed hard for more deregulated private sector subprime loans for years beyond that & the majority of the bubble loans were not made by Fannie, Freddie & did not involve CRA Red-Lining. Political rhetoric & Democrats had no affect because Republicans controlled all the bills that came up for vote, the House, Senate & Presidency & did nothing but blow air into the bubble as it formed.

Fannie Mae and Freddie Mac market share fell off a cliff when the bubble loans were made from 2003 to 2008. The relative market share of Fannie Mae and Freddie Mac dropped from a high of 57 percent of all new mortgage originations in 2003, down to 37 percent as the bubble was developing in 2005-06. More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions. The government-sponsored enterprises were concerned with the loss of market share to these private lenders — Fannie and Freddie were chasing profits, not trying to meet low-income lending goals.

President Bush - Mobilizing the Private Sector: America's Homeownership Challenge

December 16, 2003 President Bush signed into law the American Dream Downpayment Act

President Bush 2004 - Fact Sheet: America's Ownership Society: Expanding Opportunities

Even today Republicans fight against bringing back Glass Steagall, CFPB, Dodd Frank or any type of Fiduciary Responsibility whatsoever. They prefer "Market Making" by any deceptive dishonest means necessary. That means financial professionals are allowed to deceive people who are focused on their jobs in other fields. That is very destructive to investment, trust, markets, economy, innovation & lowers living standards for everyone but market pros. Less innovation & real work get done because everyone has to focus on protecting themselves from financial vultures.

[youtube]66Z_1c-kLFM[/youtube]

Then when the market wipes out these shit peddlers, we are forced to bail them out so they can screw citizens again.

 

[S.J.]

this shouldn't even be in the clean debate zone with that ugly shit stirring title

Exactly! What's the point in having a CDZ? There's just as much flaming going on here as in the political forum.

 

[RKMBrown]

Wrong again. It was 2007.

Remind me again when Bush found his Veto Pen?

Bush was a socialist war hawk, no child left behind, medicare expansion, .. a RINO. A PNAC RINO.

But yeah thx that explains why the recession hit within a year of the dems taking congress. Congress holds the purse right? Congress manages things like checking on the banking system and such right?

President Bush killed CFPB regulation created by Clinton in the law that killed Glass Steagall. Bush pushed hard for more deregulated private sector subprime loans for years beyond that & the majority of the bubble loans were not made by Fannie, Freddie & did not involve CRA Red-Lining. Political rhetoric & Democrats had no affect because Republicans controlled all the bills that came up for vote, the House, Senate & Presidency & did nothing but blow air into the bubble as it formed.

Fannie Mae and Freddie Mac market share fell off a cliff when the bubble loans were made from 2003 to 2008. The relative market share of Fannie Mae and Freddie Mac dropped from a high of 57 percent of all new mortgage originations in 2003, down to 37 percent as the bubble was developing in 2005-06. More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions. The government-sponsored enterprises were concerned with the loss of market share to these private lenders — Fannie and Freddie were chasing profits, not trying to meet low-income lending goals.

President Bush - Mobilizing the Private Sector: America's Homeownership Challenge

December 16, 2003 President Bush signed into law the American Dream Downpayment Act

President Bush 2004 - Fact Sheet: America's Ownership Society: Expanding Opportunities

Even today Republicans fight against bringing back Glass Steagall, CFPB, Dodd Frank or any type of Fiduciary Responsibility whatsoever. They prefer "Market Making" by any deceptive dishonest means necessary. That means financial professionals are allowed to deceive people who are focused on their jobs in other fields. That is very destructive to investment, trust, markets, economy, innovation & lowers living standards for everyone but market pros. Less innovation & real work get done because everyone has to focus on protecting themselves from financial vultures.

[youtube]66Z_1c-kLFM[/youtube]

Then when the market wipes out these shit peddlers, we are forced to bail them out so they can screw citizens again.

Ayup socialism sucked when bush did it and it sucks now.

 

[theHawk]

Taking into account that Bush Jr left office January 20, 2009 & that the Obama Administration’s cabinet was finalized & approved by Congress in February 2009 at which time the unemployment rate was 8.3%.

By my calc with today’s July 2014 news of 6.1% unemployment rate means a drop of 2.2% in unemployment & dropping fast.
.

My Reference on the February 2009 unemployment rate: Graph: Unemployment rate (seasonally adjusted)
.
My Reference on the present 6.1% & dropping fast unemployment rate that upsets Republicans: ? Fox Business Host Actually Whines On Twitter About Low Unemployment Rate, Thinks It?s Bad For Economy
​

Best Regards
Lobato1

Funny how the GDP just dropped 2.9% in the first quarter, yet here are the idiots to tell us the economy is doing just great!

The unemployment rate is a total fraud and lie being told by the Federal government. It does not include all those that have left the workforce because they have just given up on looking for a job in the Obama-economy. Bush had a healthy and stable 66% labor workforce. Ever since the Hussein and the Dems took control of the government, it has steadily gone down.

Take a look for yourself at the Department of Labor website: Bureau of Labor Statistics Data

Bush averaged 66% labor workforce, and now the Hussein has us at 62.8%.

So no, we're not "angry" over these fudged numbers like "6.1% unemployment". We're laughing at them because it's a total lie.

 

[edthecynic]

Taking into account that Bush Jr left office January 20, 2009 & that the Obama Administration’s cabinet was finalized & approved by Congress in February 2009 at which time the unemployment rate was 8.3%.

By my calc with today’s July 2014 news of 6.1% unemployment rate means a drop of 2.2% in unemployment & dropping fast.
.

My Reference on the February 2009 unemployment rate: Graph: Unemployment rate (seasonally adjusted)
.
My Reference on the present 6.1% & dropping fast unemployment rate that upsets Republicans: ? Fox Business Host Actually Whines On Twitter About Low Unemployment Rate, Thinks It?s Bad For Economy
​

Best Regards
Lobato1

Funny how the GDP just dropped 2.9% in the first quarter, yet here are the idiots to tell us the economy is doing just great!

The unemployment rate is a total fraud and lie being told by the Federal government. It does not include all those that have left the workforce because they have just given up on looking for a job in the Obama-economy. Bush had a healthy and stable 66% labor workforce. Ever since the Hussein and the Dems took control of the government, it has steadily gone down.

Take a look for yourself at the Department of Labor website: Bureau of Labor Statistics Data

Bush averaged 66% labor workforce, and now the Hussein has us at 62.8%.

So no, we're not "angry" over these fudged numbers like "6.1% unemployment". We're laughing at them because it's a total lie.

If by "STABLE" 66% you mean one that started at 67.2% when Bush started and FELL to 65.7% when he left, during which time he didn't have retiring Boomers to contend with.

 

[edthecynic]

The Great Recession caused by Republicans plus 10,000 Baby Boomers retiring every day tend to increase the government dole. How about comparing able bodied working age people on the government dole at the beginning & end of Bush & Obama's terms.

Remind me again, when did the democrats take both houses? Was that in 2006?

No, it was 2007.

Now you remind me what post 2007 legislation the Dems got passed a GOP filibuster and was passed over a Bush veto that caused the Great Bush economy to crash in a matter of months.

 

[RKMBrown]

The Great Recession caused by Republicans plus 10,000 Baby Boomers retiring every day tend to increase the government dole. How about comparing able bodied working age people on the government dole at the beginning & end of Bush & Obama's terms.

Remind me again, when did the democrats take both houses? Was that in 2006?

No, it was 2007.

Now you remind me what post 2007 legislation the Dems got passed a GOP filibuster and was passed over a Bush veto that caused the Great Bush economy to crash in a matter of months.

What great bush economy? WTH are you talking about?

Remind me again when is Obama gonna end these wars?

 

[Stephanie]

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud — Paul Craig Roberts


July 7, 2014 | Categories: Articles & Columns | Tags: Jobs, unemployment, | Print This Article Print This Article

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud
And More Fraud Is in the Works

Paul Craig Roberts

Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.

In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (Shadow Government Statistics - Home Page) wrote that the 288,000 June jobs and 6.1% unemployment rate are “far removed from common experience and underlying reality.” Payrolls were overstated by “massive, hidden shifts in seasonal adjustments,” and the Birth-Death model added the usual phantom jobs.

Williams reports that “the seasonal factors are changed each and every month as part of the concurrent seasonal-adjustment process, which is tantamount to a fraud,” as the changes in the seasonal factors can inflate the jobs number. While the headline numbers always are on a new basis, the prior reporting is not revised so as to be consistent.

The monthly unemployment rates are not comparable, so one doesn’t know whether the official U.3 rate (the headline rate that the financial press reports) went up or down. Moreover, the rate does not count discouraged workers who, unable to find a job, cease looking. To be counted among the U.3 unemployed, the person must have actively looked for work during the four weeks prior to the survey. The U.3 rate automatically declines as people who have been unable to find jobs cease trying to find one and thereby cease to be counted as unemployed.

There is a second official measure of unemployment that includes people who have been discouraged for less than one year. That rate, known as U.6, is seldom reported and is double the 6.1% rate.

http://www.usmessageboard.com/politics/364066-obama-creates-4-000-000-jobs.html#post9410438

 

[Discombobulated]

Living wages & employment piss Republicans off to no end.

USA Today - Study: States that raised minimum wage had stronger job growth

"A recent study by the Center for Economic and Policy Research attempts to undercut the argument that raising the minimum wage kills jobs.

The study, which updates a Goldman Sachs analysis to include data from April and May, shows that the 13 states that increased their minimum wages on Jan. 1 have had stronger employment growth than the 37 states that didn’t. The study compared average employment during the first five months of 2014 with the last five months of 2013.

...low-wage workers tend to spend nearly all their extra cash, lifting the local economy and creating more jobs."

So instead of reaching for the dream Americans are left to squabble over the crumbs.

Like I said, I knew you Republicans would be pissed. You hate it when employers pay workers for the wealth they create instead of stealing it for wallstreet. You hate having to pay them enough so tax payers don't have to support them. You hate it when workers can spend their own money instead of relying on government causing deficit spending & inflation. You also hate the workers spending their money creating jobs that get more people off the government tit & lowering inflation even more. You hate it the most that reduced government dependance cuts the need for government employees, thus lowering deficit spending & inflation.

Who's you Republicans? Funny how much so called liberals sound more and more just like Rush Limbaugh, Sean Hannity, and Bill O'Reilly. You are apparently just the flip side of the same coin.

 

[Discombobulated]

You can quibble with the stats - but as long as we are comparing apples to apples - then unemployment IS dropping.

As fast as I would like? Nope
At wages I would like? Nope

But it IS improving and when one political party has hitched their wagon to "EVERYTHING SUCKS" then a cottage industry of "Things are worse than you think" springs up.

I don't blame the devotees for doing whatever they can to grind their ax. I blame those who swallow it without checking under the hood.

No you're wrong, the statistics are completely misleading because they don't take into account all the people who have simply given up looking for work. The opportunities just aren't there, and everyone knows it. The real unemployment figures are probably far in excess of 10%.

So, I think we can agree that someone trying to get a job has a chance of getting a job. But who is more likely to get a job: someone who stopped looking because they decided they don't need one, someone who, due to school or illness or family care can't take one, or someone who gave up? The answer is that none of them can be hired. So why would you want to classify those who gave up as unemployed? What would that tell you about how hard it is to actually get a job?

Based on what you've written here I'd be very surprised if some foundation hadn't already offered funding for you to start your own think tank of economists.

 

[edthecynic]

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud — Paul Craig Roberts


July 7, 2014 | Categories: Articles & Columns | Tags: Jobs, unemployment, | Print This Article Print This Article

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud
And More Fraud Is in the Works

Paul Craig Roberts

Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.

In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (Shadow Government Statistics - Home Page) wrote that the 288,000 June jobs and 6.1% unemployment rate are “far removed from common experience and underlying reality.” Payrolls were overstated by “massive, hidden shifts in seasonal adjustments,” and the Birth-Death model added the usual phantom jobs.

Williams reports that “the seasonal factors are changed each and every month as part of the concurrent seasonal-adjustment process, which is tantamount to a fraud,” as the changes in the seasonal factors can inflate the jobs number. While the headline numbers always are on a new basis, the prior reporting is not revised so as to be consistent.

The monthly unemployment rates are not comparable, so one doesn’t know whether the official U.3 rate (the headline rate that the financial press reports) went up or down. Moreover, the rate does not count discouraged workers who, unable to find a job, cease looking. To be counted among the U.3 unemployed, the person must have actively looked for work during the four weeks prior to the survey. The U.3 rate automatically declines as people who have been unable to find jobs cease trying to find one and thereby cease to be counted as unemployed.

There is a second official measure of unemployment that includes people who have been discouraged for less than one year. That rate, known as U.6, is seldom reported and is double the 6.1% rate.

http://www.usmessageboard.com/politics/364066-obama-creates-4-000-000-jobs.html#post9410438

Everybody knows Williams is full of shit and his Shadow Stats are worthless. A perfect example is his claim that the U-6 rate is the UE rate plus discouraged workers. That is actually the U-4 rate which is 6.5%, not double the U-3 rate as the liar claimed.

 

[pinqy]

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud — Paul Craig Roberts


July 7, 2014 | Categories: Articles & Columns | Tags: Jobs, unemployment, | Print This Article Print This Article

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud
And More Fraud Is in the Works

Paul Craig Roberts

Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.

In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (Shadow Government Statistics - Home Page) wrote that the 288,000 June jobs and 6.1% unemployment rate are “far removed from common experience and underlying reality.” Payrolls were overstated by “massive, hidden shifts in seasonal adjustments,” and the Birth-Death model added the usual phantom jobs.

Williams reports that “the seasonal factors are changed each and every month as part of the concurrent seasonal-adjustment process, which is tantamount to a fraud,” as the changes in the seasonal factors can inflate the jobs number. While the headline numbers always are on a new basis, the prior reporting is not revised so as to be consistent.

The monthly unemployment rates are not comparable, so one doesn’t know whether the official U.3 rate (the headline rate that the financial press reports) went up or down. Moreover, the rate does not count discouraged workers who, unable to find a job, cease looking. To be counted among the U.3 unemployed, the person must have actively looked for work during the four weeks prior to the survey. The U.3 rate automatically declines as people who have been unable to find jobs cease trying to find one and thereby cease to be counted as unemployed.

There is a second official measure of unemployment that includes people who have been discouraged for less than one year. That rate, known as U.6, is seldom reported and is double the 6.1% rate.

http://www.usmessageboard.com/politics/364066-obama-creates-4-000-000-jobs.html#post9410438

I addressed this thoroughly in the other thread, but for here:

Let's see....the Not seasonally adjusted change was +582,000 (Table B-1) including 121,000 from the Birth/Death adjustment so according to Williams, the actual change was +461,000 and BLS fraudulently and deceptively knocked it down to +288,000. Interesting claim.

And I showed the math that williams is adding over 22 million so called long term discouraged to the U-6 to get his bogus unemployment rate.

 

[asaratis]

Government hiring causes unemployment to go down.