Damn Trump Economy!! LPR Up! Jobs Up! Income Up!

Discussion in 'Economy' started by Spare_change, Oct 6, 2017.

  1. Spare_change
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    Spare_change Gold Member

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    Despite the half-truths, false propaganda, and downright lies fomented by our esteemed leftist moan machine at Economy loses 33,000 jobs in September biggest drop in seven years

    The truth is published, in its entirety, to allow YOU to judge.


    Hurricanes Harvey and Irma are long gone, and despite dire predictions, they did not dampen the September jobs report in most key areas.

    The Bureau of Labor Statistics on Friday said the labor force participation rate of 63.1 percent reached a high for the year in September, up two-tenths of a point from August.

    The number of employed Americans reached 154,345,000 in September, setting a sixth record since January. As the number of employed Americans reached an all-time high, the number of unemployed Americans in September -- 6,801,000 -- hasn't been this low since May 2007.

    The already low unemployment rate dropped another two-tenths of a point to 4.2 percent last month. That is the lowest since early 2001.

    BLS noted that the recent hurricanes had "no discernible effect on the national unemployment rate."

    The number of Americans not in the labor force declined a bit in September to 94,417,000. The record, set in the final full month of the Obama presidency, stands at 95,102,000 Americans not in the labor force.

    On the negative side, BLS said no new jobs were added in September: In fact, BLS counts a job loss of 33,000, and it blamed the net effect of the two hurricanes for the negative jobs-added number.

    BLS noted that a “steep” employment decline in food services and drinking places and below-trend growth in some other industries likely reflected the impact of Hurricanes Irma and Harvey. Employment rose in health care and in transportation and warehousing.

    BLS said job gains have averaged 91,000 over the past three months.

    And wages are going up: In September, average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents to $26.55. Over the past 12 months, average hourly earnings have increased by 74 cents, or 2.9 percent,, BLS said.
     
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  2. edthecynic
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    edthecynic Censored for Cynicism

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    Actually the job loss was 71,000 after the net loss of 38,000 jobs after the correction of the last 2 months job reports.

    From the BLS report:
    Employment gains in July and August combined were 38,000 less than previously reported. After revisions, job gains have averaged 91,000 over the past 3 months.
     
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  3. Crackerjack
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    Crackerjack Too sick for a cure

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    BLM's unemployment count has been bullshit for years now. I doubt their employment numbers are much better.

    And before you say it, yes I said the same thing when Obama was president.
     
  4. pinqy
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    pinqy Gold Member

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    Hmmm, while there certainly are legitimate criticisms and issues with the unemployment numbers, there are two kinds of people I've encountered who say it is all BS: those who don't actually understand the concepts or methodology, and those who lie about it for profit. What exactly are your objections?
     
  5. Crackerjack
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    Crackerjack Too sick for a cure

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    I don't have it in front of me at the moment, but from what I understand of the unemployment count, a person who is unemployed beyond a certain time is no longer considered unemployed and deemed "out of the workforce." I also understand that they don't factor in underemployed people, which is also an important classification to my way of thinking.
     
  6. pinqy
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    pinqy Gold Member

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    Ok, that's not true. When the census worker visits or calls a household, if the person doesn't own a business and did not work the previous week (besides temporary absence from a job) s/he is asked what they did to find a job in the last 4 weeks. If they did anything at all to get a job, they are classified as unemployed for that month. If the answer is "nothing" or just read job ads or picked up an application, then the person is "Not in the labor force" for that month. There's no time limit...if you've been out of work 6 years and are looking, you're still unemployed.

    Well, underemployed are still, by definition, employed. While those who want and can work full time, but only work part time because they can't find full time, or had their hours cut, or it's the off-season etc are tracked, it wouldn't make sense to classify them as unemployed.
     
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  7. longknife
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    longknife Diamond Member

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  8. Econ4Every1
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    Econ4Every1 Member

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    Can anyone touting Trump's jobs numbers and his performance show me 3 significant statistics where there is a reversal in some trend from Obama to Trump?

    Then tell me which of trumps policies are responsible for the turn-around/s.
     
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  9. Spare_change
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    Spare_change Gold Member

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    LOL --- that rite thar is sum funnie shit.

    Liars figure, but figures don't lie. We watched the stock market climb out of the doldrums under Obama, right up until the day after the election. It exploded!!! And has continued to explode!

    And, you want us to give Obama credit for that???

    Keep figuring ....
     
  10. Econ4Every1
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    Econ4Every1 Member

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    Ok, but Trump obviously didn't do anything in terms of policy to affect the stock market except make a lot of promises.

    Besides, the stock market isn't a very good indicator of how well the economy is doing for most people.

    If we look at the turn around with respect to income growth, when adjusted for inflation, it had fallen from 1998-2000.

    That turned around 2013, though the bottom 2 quintiles are still struggling to get back to the level of income growth they saw in 2000

    [​IMG]

    While the stock market is doing well, key indicators in the economy are beginning to slump. My prediction is that the Christmas season will stave off a recession until first or second quarter next year unless Congress approves a significant infrastructure bill.

    Just a few charts that show the economy isn't doing as well as most people think....
    [​IMG]

    [​IMG]

    [​IMG]

    [​IMG]

    I won't post them all, but loans by banks, consumers and in real estate all follow similar trends....


    [​IMG]


    All ost all of these began to slump after Trump took office.
     

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