288,000 jobs added in June and jobless rate drops

[JimH52]

Jobs Report: U.S. Economy Added 288K Jobs In June, Unemployment Dropped To 6.1% - Forbes

The worst President since WWII..... is presiding over an improving economy.

Oh the agony of the GOP. They get a biased poll that makes them feel ggod and then they get slammed with this news.

THEY JUST CANNOT WIN!

 

[Mr. H.]

Jobs have been ebbing and flowing with the net result a flat-line.

Except in one sector of the economy. And don't tell me the EIA are a bunch of liars.

 

[Flopper]

Jobs have been ebbing and flowing with the net result a flat-line.

Except in one sector of the economy. And don't tell me the EIA are a bunch of liars.

The leading economic indicators have been increasing for the 4th month in a row indicating continuing expansion of the economy. Unemployment is a lagging indicator of economic activity. The BLS is projecting continued improvements in employment.

http://www.conference-board.org/pdf_free/press/TechnicalPDF_5218_1403168419.pdf

 

[Derideo_Te]

Jobs have been ebbing and flowing with the net result a flat-line.

Except in one sector of the economy. And don't tell me the EIA are a bunch of liars.

The leading economic indicators have been increasing for the 4th month in a row indicating continuing expansion of the economy. Unemployment is a lagging indicator of economic activity. The BLS is projecting continued improvements in employment.

http://www.conference-board.org/pdf_free/press/TechnicalPDF_5218_1403168419.pdf

Excellent point. As lagging indicators the employment rate and the growth in jobs all show a positive trend emerging for the economy.

Politically this does not bode well for the GOP because unlike the 2010 midterms when the people were lashing out in anger at what happened at the end of 2008 the voters will now be looking at improving prospects and a brighter future.

The attempt to derail the economy by cutting off the transportation funding will be a risky political move by the GOP. If it can be determined that once again they have put partisan political gain ahead of the interests of the American people they could be held responsible in November.

The smart move is not to take that gamble. However the track record of smart moves is not there for the GOP so no one is holding their breath waiting for it to happen.

 

[SteadyMercury]

Goddamit Derideo everytime I see your username I get hungry.

 

[SteadyMercury]

Still waiting on the standard "oh but we need to add (insert larger number here) jobs to even stay even!" reply

 

[Derideo_Te]

Goddamit Derideo everytime I see your username I get hungry.

That has to be best back handed compliment I have ever received!

 

[RWHeathenGamer]

Yea all those temp and retail jobs, the backbone of the new American economy.


Who Was Hiring In June | Zero Hedge

Also, take these declining unemployment numbers with a grain of salt, all they are reflective of is a declining labor force participation rate. When you lower the amount of people in the labor, unemployment rate can go down without any new jobs actually being created. So I would be very skeptical of these numbers.

http://data.bls.gov/timeseries/LNS11300000

 

[SteadyMercury]

Yea all those temp and retail jobs, the backbone of the new American economy.

What are you talking about?

Your own link says Professional business services had a gain of 53.9k, that is a very well paying field and was the largest increase listed, much higher than retail at 40.2k.

Temp = 13.1k, not very significant

Education and health are solid middle class job, increase = 38k, why would you mention temp at 13.1k instead?

 

[JimH52]

Still waiting on the standard "oh but we need to add (insert larger number here) jobs to even stay even!" reply

Give them time. They are still trying to get home from work over the crowded highways that have resulted from their refusal to raise the transportation tax.

KARMA is a b*tch

 

[blackhawk]

Here is a little something to think about the increased hiring during the first six months of the year is also the same amount of time extended unemployment benefits have been gone. Coincidence I wonder you might also check how many of these jobs are part time and note the labor participation rate is still very bad as a wise man once said the devil is in the details.

 

[JimH52]

Yea all those temp and retail jobs, the backbone of the new American economy.


Who Was Hiring In June | Zero Hedge

Also, take these declining unemployment numbers with a grain of salt, all they are reflective of is a declining labor force participation rate. When you lower the amount of people in the labor, unemployment rate can go down without any new jobs actually being created. So I would be very skeptical of these numbers.

Bureau of Labor Statistics Data

More jobs, less war, low polls: the Obama disconnect - CNN.com

Another GOP lie revealed

In addition, the job growth last month spread across the economy instead of coming mostly from low-paying sectors such as food and drink, as occurred previously, said CNN Chief Business Correspondent Christine Romans.

 

[JakeStarkey]

Here is a little something to think about the increased hiring during the first six months of the year is also the same amount of time extended unemployment benefits have been gone. Coincidence I wonder you might also check how many of these jobs are part time and note the labor participation rate is still very bad as a wise man once said the devil is in the details.

Answered in #9 above. Next.

 

[whitehall]

Ten million, ten million , ten million. That's the government official unemployment number. The real number counting people who have given up is much higher. Black unemployment is around 10.3%. It's nice that corporate wealth is increasing though.

 

[RWHeathenGamer]

Yea all those temp and retail jobs, the backbone of the new American economy.


Who Was Hiring In June | Zero Hedge

Also, take these declining unemployment numbers with a grain of salt, all they are reflective of is a declining labor force participation rate. When you lower the amount of people in the labor, unemployment rate can go down without any new jobs actually being created. So I would be very skeptical of these numbers.

Bureau of Labor Statistics Data

More jobs, less war, low polls: the Obama disconnect - CNN.com

Another GOP lie revealed

In addition, the job growth last month spread across the economy instead of coming mostly from low-paying sectors such as food and drink, as occurred previously, said CNN Chief Business Correspondent Christine Romans.

Retail Trade: 40.2K
Leisure and Hospitality: 39K
Education and health: 38K
Government: 26K
Temp Help Service: 13.1K


Mostly service jobs and jobs dependent on government spending. These jobs can't provide a foundation for a growing sustainable economy.

 

[blackhawk]

Here is a little something to think about the increased hiring during the first six months of the year is also the same amount of time extended unemployment benefits have been gone. Coincidence I wonder you might also check how many of these jobs are part time and note the labor participation rate is still very bad as a wise man once said the devil is in the details.

Answered in #9 above. Next.

Not really also from that link.

As we reported previously, and as hardly anyone else will discuss, in June the composition of added jobs was rather abysmal: according to the Household survey, while over half a million full-time jobs were lost, this was offset by less paying, benefits-free part-time jobs rising by 799K, the most since 1993. So what does that mean for the job quality as reported by the Establishment Survey.

Look at what are considered the two biggest drivers of the economy manufacturing and construction.

Manufacturing: 16K Construction: 6K

 

[JimH52]

This is a message to the GOP and their hopes to capture the Senate:

As the 2014 vote approaches, please recall the infamous warning,

Its the Economy, Stupid!

The GOP brain trust is probably meeting tonight to consider their options to crash the economy before November....again. Maybe they will give a call to W or DICK. They seem to have that down pretty well.

 

[Stephanie]

we see those in that die hard 30% something approval of Obama is still looking for that Hope and Change

oh boy just sad really

 

[SteadyMercury]

Retail Trade: 40.2K
Leisure and Hospitality: 39K
Education and health: 38K
Government: 26K
Temp Help Service: 13.1K


Mostly service jobs and jobs dependent on government spending. These jobs can't provide a foundation for a growing sustainable economy.

You selective pasting skills are solid.


Professional business services: 53.9K
Retail Trade: 40.2K
Leisure and Hospitality: 39K
Education and health: 38K
Government: 26K
Financial Services: 17K
Manufacturing: 16K
Temp Help Service: 13.1K
Information: 9K
Construction: 6K

I see "most" as being from sectors that can support a middle class lifestyle. Only someone with a partisan ax to grind would look at that list and say highlight "temp" as one of the big sectors that gained jobs.

 

[RWHeathenGamer]

Retail Trade: 40.2K
Leisure and Hospitality: 39K
Education and health: 38K
Government: 26K
Temp Help Service: 13.1K


Mostly service jobs and jobs dependent on government spending. These jobs can't provide a foundation for a growing sustainable economy.

You selective pasting skills are solid.


Professional business services: 53.9K
Retail Trade: 40.2K
Leisure and Hospitality: 39K
Education and health: 38K
Government: 26K
Financial Services: 17K
Manufacturing: 16K
Temp Help Service: 13.1K
Information: 9K
Construction: 6K

I see "most" as being from sectors that can support a middle class lifestyle. Only someone with a partisan ax to grind would look at that list and say highlight "temp" as one of the big sectors that gained jobs.

As we reported previously, and as hardly anyone else will discuss, in June the composition of added jobs was rather abysmal: according to the Household survey, while over half a million full-time jobs were lost, this was offset by less paying, benefits-free part-time jobs rising by 799K, the most since 1993. So what does that mean for the job quality as reported by the Establishment Survey. Let's dive in.

God you're so stupid. Do you realize what part time professional service jobs are? Hint, they aren't lawyers or accountants(those though don't build an economy either), they are office temps.

As for those good "middle class" part time jobs(in government and health/education), whatever the hell that means, they are dependent on increases in government spending. When austerity occurs as a result of higher FED interest rates, these part time "middle class jobs" go bye bye.

But yea, good luck on building the economy on 22000 part time manufacturing and construction jobs.