More economic good news: Economy adds 3 million jobs last year, unemployment down to 5.6%

[Faun]

The labor participation rate is the lowest it's been in decades.

Who on the planet thinks that is good?

HaHa! Saw that coming.

 

[Faun]

Thank you Republican Governors, and those working so hard to make their businesses work while their President does everything he can to cripple them.....and thanks to the American energy industry....also fighting to bring us energy, cheaply, while the President does his best to destroy coal, and prevent the shale oil boom......

too bad obama will take credit for the hard work of so many others while he is not just standing by and doing nothing, but actively trying to undermine their efforts.....

So Reagan didn't really create 16 million jobs? Who knew?

 

[Nosmo King]

Thank you Republican Governors, and those working so hard to make their businesses work while their President does everything he can to cripple them.....and thanks to the American energy industry....also fighting to bring us energy, cheaply, while the President does his best to destroy coal, and prevent the shale oil boom......

too bad obama will take credit for the hard work of so many others while he is not just standing by and doing nothing, but actively trying to undermine their efforts.....

Yeah. thanks Republican governors for gutting the retirement system I relied upon! I'm a public sector employee who has paid taxes and kept up my property responsibly. But to the Republican governor in my state, I am the problem that must be solved by attrition. I didn't do anything wrong.. I took pay cuts. But now my retirement is being eroded. Why? Because I am an easy target. Because the Republicans saw a chance to make cuts without reason.

sure. thanks Republican governors. Had I been wealthy, they would never decide to pull my benefits. In fact, they would have supplemented them..

 

[Faun]

The economy is doing so good, the GOP will try to take credit for it!

They just took over Congress....time to start taking credit

They've had the House since 2010 and yes, you can thank them for what little break we've been getting. Which policy has obama enacted that created jobs?

The short list:

- American Financial Stability Act
- Workers tax credit
- Small Business Jobs Act
- ARRA
- Making Home Affordable plan
- Fraud Enforcement and Recovery Act
- Credit Card Accountability, Responsibility and Disclosure Act
- Worker, Homeownership, and Business Assistance Act

 

[Faun]

2014 was America s best year of job growth since 1999 - Jan. 9 2015
.


It's encouraging news as the U.S. tries to put the Great Recession and sluggish recovery solidly behind it. Many economists expect 2015 to be equally as strong, if not better, for job seekers.
The unemployment rate fell to 5.6%in December, down from 5.8% in November. That's also a big drop from the 6.7% rate in December 2013. It's expected to hit 5.2% -- around the normal level -- by the end of the year, according to CNNMoney's survey of economists.
Related: Expect strong U.S. economy in 2015
Throughout the recovery, the concern has been that America was adding jobs slowly and people hunting for work were getting so frustrated they would drop out of the workforce altogether.
But the U.S. added over 200,000 jobs every month in 2014 except two. The end of the year was especially strong with 252,000positions added in December. That was ahead of CNNMoney's economist forecast of 236,000.
The government also revised up its estimates for job gains in October and November, revealing employers added more than 50,000 jobs than previously thought.





.

200,000 * 12 = 3,000,000??????????

Wow

No, but over 200,000 * 12 == 3,000,000

 

[Claudette]

The economy is improving. Problem is most folks don't think that it is.

Pretty good write up.
The economy 8217 s doing great except for the people in it - The Washington Post

 

[Faun]

The labor participation rate is the lowest it's been in decades.

Who on the planet thinks that is good?

What's bad about it? Keep in mind, the number of people who are not in the labor force but do want a job dropped to about 6.4 million.

 

[Iceweasel]

The economy is doing so good, the GOP will try to take credit for it!

They just took over Congress....time to start taking credit

They've had the House since 2010 and yes, you can thank them for what little break we've been getting. Which policy has obama enacted that created jobs?

The short list:

- American Financial Stability Act
- Workers tax credit
- Small Business Jobs Act
- ARRA
- Making Home Affordable plan
- Fraud Enforcement and Recovery Act
- Credit Card Accountability, Responsibility and Disclosure Act
- Worker, Homeownership, and Business Assistance Act

American Financial Stability Act
What's your evidence that has improved the economy?

Workers tax credit
I'm not sure what you are referring to.


Small Business Jobs Act

Not obama's doing.
H.R. 1105 Small Business Capital Access and Job Preservation Act gop.gov
Robert Hurt currently represents Virginia’s 5th District in the House of Representatives. He is a member of the Financial Services Committee, which has jurisdiction over all aspects of the nation’s financial and housing sectors.

 

[Iceweasel]

The labor participation rate is the lowest it's been in decades.

Who on the planet thinks that is good?

What's bad about it? Keep in mind, the number of people who are not in the labor force but do want a job dropped to about 6.4 million.

That isn't good by any stretch of the imagination. Better maybe, except for those that have given up.

 

[edthecynic]

The labor participation rate is the lowest it's been in decades.

Who on the planet thinks that is good?

What's bad about it? Keep in mind, the number of people who are not in the labor force but do want a job dropped to about 6.4 million.

That isn't good by any stretch of the imagination. Better maybe, except for those that have given up.

Who are fewer and fewer every year, as you well know because you are so well informed.

 

[Faun]

The economy is doing so good, the GOP will try to take credit for it!

They just took over Congress....time to start taking credit

They've had the House since 2010 and yes, you can thank them for what little break we've been getting. Which policy has obama enacted that created jobs?

The short list:

- American Financial Stability Act
- Workers tax credit
- Small Business Jobs Act
- ARRA
- Making Home Affordable plan
- Fraud Enforcement and Recovery Act
- Credit Card Accountability, Responsibility and Disclosure Act
- Worker, Homeownership, and Business Assistance Act

American Financial Stability Act
What's your evidence that has improved the economy?

Not obama's doing.
H.R. 1105 Small Business Capital Access and Job Preservation Act gop.gov
Robert Hurt currently represents Virginia’s 5th District in the House of Representatives. He is a member of the Financial Services Committee, which has jurisdiction over all aspects of the nation’s financial and housing sectors.

This program is a strong catalyst for job growth, and it costs very little to taxpayers…So when the recession hit, and angel and venture funding dropped, Congress and the Administration looked to SBIC to help fill the gap in access to growth capital. That’s why the Recovery Act did some calibrations to the SBIC program that freed up even more capital. The goal was to help fill the gap we saw – while still ensuring that the SBIC was on solid footing. Those adjustments and other efforts led by our Investment chief Sean Greene, worked. The results have been remarkable. I’m pleased to announce them now.

For Fiscal Year 2010, we saw a dramatic 23% increase over the average of the previous 4 years in total financings to small firms through SBIC. I’m proud to announce that this is a 50-year, record high with a total of nearly $1.6 billion dollars in overall financing in the hands of high-growth small firms. And it gets better.

read more at SBIC Announcement Small Business Jobs Act Update The U.S. Small Business Administration SBA.gov

 

[Faun]

The labor participation rate is the lowest it's been in decades.

Who on the planet thinks that is good?

What's bad about it? Keep in mind, the number of people who are not in the labor force but do want a job dropped to about 6.4 million.

That isn't good by any stretch of the imagination. Better maybe, except for those that have given up.

Again ... the number of people not in the labor force who want a job decreased. So why is it bad that the overall number of people not in the labor force increased?

 

[Faun]

The economy is doing so good, the GOP will try to take credit for it!

They just took over Congress....time to start taking credit

They've had the House since 2010 and yes, you can thank them for what little break we've been getting. Which policy has obama enacted that created jobs?

The short list:

- American Financial Stability Act
- Workers tax credit
- Small Business Jobs Act
- ARRA
- Making Home Affordable plan
- Fraud Enforcement and Recovery Act
- Credit Card Accountability, Responsibility and Disclosure Act
- Worker, Homeownership, and Business Assistance Act

Workers tax credit
I'm not sure what you are referring to.

Here's information on the workers tax credit, among others...

Tax Credits in 2009 2010 for Workers Homeowners Employers

 

[Faun]

The economy is doing so good, the GOP will try to take credit for it!

They just took over Congress....time to start taking credit

They've had the House since 2010 and yes, you can thank them for what little break we've been getting. Which policy has obama enacted that created jobs?

The short list:

- American Financial Stability Act
- Workers tax credit
- Small Business Jobs Act
- ARRA
- Making Home Affordable plan
- Fraud Enforcement and Recovery Act
- Credit Card Accountability, Responsibility and Disclosure Act
- Worker, Homeownership, and Business Assistance Act

Small Business Jobs Act

Not obama's doing.
H.R. 1105 Small Business Capital Access and Job Preservation Act gop.gov
Robert Hurt currently represents Virginia’s 5th District in the House of Representatives. He is a member of the Financial Services Committee, which has jurisdiction over all aspects of the nation’s financial and housing sectors.

Obama signed it ... are you saying Obama gets no credit for passing it into law?

 

[Iceweasel]

The economy is doing so good, the GOP will try to take credit for it!

They just took over Congress....time to start taking credit

They've had the House since 2010 and yes, you can thank them for what little break we've been getting. Which policy has obama enacted that created jobs?

The short list:

- American Financial Stability Act
- Workers tax credit
- Small Business Jobs Act
- ARRA
- Making Home Affordable plan
- Fraud Enforcement and Recovery Act
- Credit Card Accountability, Responsibility and Disclosure Act
- Worker, Homeownership, and Business Assistance Act

Small Business Jobs Act

Not obama's doing.
H.R. 1105 Small Business Capital Access and Job Preservation Act gop.gov
Robert Hurt currently represents Virginia’s 5th District in the House of Representatives. He is a member of the Financial Services Committee, which has jurisdiction over all aspects of the nation’s financial and housing sectors.

Obama signed it ... are you saying Obama gets no credit for passing it into law?

Oh good God. obbie signs it so he gets credit for the bill?

 

[Faun]

They just took over Congress....time to start taking credit

They've had the House since 2010 and yes, you can thank them for what little break we've been getting. Which policy has obama enacted that created jobs?

The short list:

- American Financial Stability Act
- Workers tax credit
- Small Business Jobs Act
- ARRA
- Making Home Affordable plan
- Fraud Enforcement and Recovery Act
- Credit Card Accountability, Responsibility and Disclosure Act
- Worker, Homeownership, and Business Assistance Act

Small Business Jobs Act

Not obama's doing.
H.R. 1105 Small Business Capital Access and Job Preservation Act gop.gov
Robert Hurt currently represents Virginia’s 5th District in the House of Representatives. He is a member of the Financial Services Committee, which has jurisdiction over all aspects of the nation’s financial and housing sectors.

Obama signed it ... are you saying Obama gets no credit for passing it into law?

Oh good God. obbie signs it so he gets credit for the bill?

It was a "yes" or "no" question. Is that too difficult for you?

 

[pinqy]

The labor participation rate is the lowest it's been in decades.

Who on the planet thinks that is good?

Labor participation rate has been going down for 15 years. It is expected to keep going down as baby boomers drop out of the workforce

For the first 4 years of Obama's presidency, Republicans hammered that the unemployment rate was the only economic measure that mattered. Now that it is down to 5.6%, labor participation rate is the only economic measure that matters

It's significantly lower than it was just 5 years ago.

Sorry but all those people who lost their jobs didn't choose to retire.

Did some more looking at the change in Labor Force Participation from Nov to Dec, specifically at Labor force status flows by sex current month
4,411,000 people who had been Employed in November were Not in the Labor Force in December, and 4,047,000 people who had been Not in the Labor Force in November were Employed in December. Net Change: +364,000 Not in the Labor Force from Employed

2,198,000 people who had been Unemployed in November were Not in the Labor Force in December, and 2,215,,000 people who had been Not in the Labor Force in November were Unemployed in December. Net Change: -17,000 Not in the Labor Force from Unemployed

303,000 people who had were no in the Population in November were Not in the Labor Force in December, and 194,000 people who had been Not in the Labor Force in November were not in the Population in December. Net Change: +109,000 Not in the Labor Force from outside the Population.

So the increase in Not in the Labor Force and the drop in the Participation Rate comes mostly from Employed...either Retiring or just not looking for a new job yet.
More people who hadn't been looking for work started looking than the number of people who stopped looking.
And more new immigrants, people turning 16, people leaving the military, prison, other institution were not working or looking for work than those who died, left the country, or joined the military, went to jail, or were committed.

 

[rightwinger]

Economically, 2014 turned out to be a good year

3 milllion new jobs, 5% GDP growth, low inflation, falling gas prices and the strongest dollar in 9 years

 

[auditor0007]

2014 was America s best year of job growth since 1999 - Jan. 9 2015
.


It's encouraging news as the U.S. tries to put the Great Recession and sluggish recovery solidly behind it. Many economists expect 2015 to be equally as strong, if not better, for job seekers.
The unemployment rate fell to 5.6%in December, down from 5.8% in November. That's also a big drop from the 6.7% rate in December 2013. It's expected to hit 5.2% -- around the normal level -- by the end of the year, according to CNNMoney's survey of economists.
Related: Expect strong U.S. economy in 2015
Throughout the recovery, the concern has been that America was adding jobs slowly and people hunting for work were getting so frustrated they would drop out of the workforce altogether.
But the U.S. added over 200,000 jobs every month in 2014 except two. The end of the year was especially strong with 252,000positions added in December. That was ahead of CNNMoney's economist forecast of 236,000.
The government also revised up its estimates for job gains in October and November, revealing employers added more than 50,000 jobs than previously thought.





.

And the baby boom is beginning. This economy is going to be golden for the next twenty years, no matter who is calling the shots. It will take a lot to fuck it up.

 

[007]

What Is the Real Unemployment Rate?
Is the Government Lying About the Real Unemployment Rate?

Definition: The realunemployment rate (U-6) is almost double the widely reported rate (U-3) issued in each month's jobs report. The Bureau of Labor Statistics (BLS) reports on both each month, but there isn't as much media attention paid to the real unemployment rate. However, it may paint a clearer picture of true unemployment in the United States.

In the widely reported unemployment rate (U-3), the BLS only counts those who have looked for a job in the past four weeks as unemployed. They're included in the labor force, because their jobless situation is only temporary (hopefully).

Once they haven't looked for a job in the past four weeks are no longer counted as unemployed or in the labor force. They are added to a group the BLS calls marginally attached.

Among them are the discouraged workers, who have given up looking for work altogether. The rest have gone back to school, gotten pregnant or become disabled. They may or may not eventually return to the labor force, depending on their circumstances.

Once they haven't looked for a job in 12 months, they're no longer counted as marginally attached. (Source: BLS, Definitions)

The BLS considers part-time workers as employed. However, it does count those who would are working part-time, but would prefer a full-time job. These people are consideredunderemployed.

The U-6, or real unemployment rate, includes everyone who wants a full-time job but doesn't have one. It counts the marginally attached (including discouraged workers) and the part-timers who would prefer a full-time job. As a result, the real or true unemployment rate is much higher.

Real Unemployment Rate Formula Using Current Statistics

In December 2014, the real unemployment rate (U-6) was 11.2%, nearly double the widely-reported unemployment rate (U-3) of 5.6%. Here's how to calculate both.

Step 1. Calculate the official unemployment rate:

U-3 = 8.688 million unemployed workers / 156.129 million in the labor force = 5.6%.

Step 2. Add in marginally attached workers: There were 2.260 million people who were marginally attached to the labor force. Add this to both the number of unemployed and the labor force.

U-5 = 10.948 million / 158.389 million = 6.9%.

Step 3. Add in part-time workers: There were 6.79 million people who were working part-time because they couldn't get full-time work, although they'd prefer it. Add them to the unemployed, they're already in the labor force.

U-6 = 17.738 million / 158.389 million = 11.2%. (Source: BLS, Table A-15)

What Is the Real Unemployment Rate Formula Examples