Discussion in 'Politics' started by mikegriffith1, Sep 9, 2018.
And where is that terrible Obama economy Fox couldn't stop bitching about?
And the inflation we have now wiped out those wage increases they've been boasting about...
Remember when labor force participation was so important to a strong economy? Not so much since trump, even though participation hasn't changed.
The rise in wages WAS very good. But the jobs numbers were LOUSY.
All you people (and the MSM - who are generally clueless about macroeconomics) are looking at is the Establishment Survey. But that is altered by the BLS using the Birth Death Model...a mathetmatical model that just adds or subtracts from the Establishment Survey. In August, it decided to add 104,000 (not seasonally adjusted, granted) 'job's to the Establishment Survey.
CES Net Birth/Death Model
This makes the Establishment Survey iffy at best, IMO.
But the Household Survey - to my knowledge - is NOT altered by some mathematical model...they just post the stats as they get them. Plus, this is the number the U-3 is based on. If you value the unemployment rate...than you HAVE to value the survey that it is based on.
And what did the Household Survey show for August? It showed 423,000 'jobs' LOST. And almost ALL of them were full time jobs.
Well - you might ask - why did the unemployment rate not shoot up? Because a whopping 469,000 people left the workforce...which more than cancelled out the massive jobs lost (as the LFPR dropped 0.2%).
Employment Situation Summary Table A. Household data, seasonally adjusted
Table A-9. Selected employment indicators
And finally, THE best barometer, IMO, of the employment situation - the employment-population ratio...dropped 0.2% (down is bad).
Bureau of Labor Statistics Data
Any of you who say the jobs numbers were good/great in August simply do not know what you are talking about. The wage rise was very good...the jobs numbers (overall) were lousy.
And the inflation affect on wages?
Could you explain please as there are several ways to interpret that question/comment?
Supposedly the new inflation has ruined the wage increase...
And a record high number of people (over 96 million) who are not in the work force. Funny how rightards stopped talking about that, idn’t it?
You are right...wages are now only just keeping pace with inflation. And that was from the last inflation measurement. Who knows what it will be for next time?
The average American worker is falling behind...and has been for a long time now.
And with Trump throwing tariffs around like candy (which are certainly inflationary)...American workers are not going to catch up anytime soon.
Trump was going to crash the economy. Dems must have made a fortune shorting the market.
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