Where is Chris?...May Jobs "Growth" plummets

[iamwhatiseem]

Strange - Chris normally makes at least 20 threads about Jobs Growth...hmm...hasn't made any about April and May...wonder why??

 

[Trajan]

come on Iam. we know why.

anyway, welcome to the sequels sequel, Summer of Recovery III

Updated June 1, 2012, 9:13 a.m. ET

U.S. Jobs Growth Slowed Sharply in May
Payrolls Rise by Just 69,000; Jobless Rate Ticks Up to 8.2%

WASHINGTON—U.S. job growth slowed sharply in May, the latest indication that the economy has lost momentum.

Nonfarm payrolls grew by a 69,000 last month, the Labor Department said Friday, the smallest gain in a year. The unemployment rate, obtained by a separate survey of U.S. households, ticked one-tenth of a percentage point higher to 8.2%, the first increase in nearly a year.

Economists surveyed by Dow Jones Newswires expected a gain of 155,000 in payrolls and for the jobless rate to remain at 8.1% in May.

Compounding an already weak report, March and April payroll gains were revised down. Nonfarm payrolls increased by 77,000 in April, compared with the previously reported 115,000, and March payrolls grew by 143,000 versus a previously reported 154,000.

more at-

http://online.wsj.com/article/SB100...0023931752902.html?KEYWORDS=unemployment+rate

 

[Trajan]

Strange - Chris normally makes at least 20 threads about Jobs Growth...hmm...hasn't made any about April and May...wonder why??

oh and hey get a load of this, Edthecynic says that a major factor as to why the labor force participation rate is down is due to retirees leaving the work force ............and when I ask him why the jobs being filled by new workers after the retirees leave is not counted as job created in the employment figures he won't answer me......so this month, how many retirees left the work force? god knows....

 

[Truthmatters]

your joy is palpable

 

[Truthmatters]

Did you know Bush presided over 6 1/2 years of a down market?

 

[Truthmatters]

the right seemed to defend that record as I recall

 

[itfitzme]

Strange - Chris normally makes at least 20 threads about Jobs Growth...hmm...hasn't made any about April and May...wonder why??

oh and hey get a load of this, Edthecynic says that a major factor as to why the labor force participation rate is down is due to retirees leaving the work force ............and when I ask him why the jobs being filled by new workers after the retirees leave is not counted as job created in the employment figures he won't answer me......so this month, how many retirees left the work force? god knows....

Why would they be counted as created jobs?

 

[iamwhatiseem]

I am posting...

 

[iamwhatiseem]

like Truthmatters...

 

[iamwhatiseem]

Just in case...

 

[iamwhatiseem]

...you missed anything I say...

 

[itfitzme]

This is more interesting. The is the employment level and labor force level to population since 1960.

Curiously, the general downward trend in the labor force began in 2001. Now, that doesn't mean people leaving because population grows in the denominator. It does present some fundamental change going on since 2001.

 

[iamwhatiseem]

This is more interesting. The is the employment level and labor force level to population since 1960.

Curiously, the general downward trend in the labor force began in 2001. Now, that doesn't mean people leaving because population grows in the denominator. It does present some fundamental change going on since 2001.

um...yeah...it is called outsourcing manufacturing.
Has no one noticed just how many 20 somethings are still living with their parents with no job? Seriously - they are everywhere. I don't think this has ever been like this before.

 

[Middleoftheroad]

This is more interesting. The is the employment level and labor force level to population since 1960.

Curiously, the general downward trend in the labor force began in 2001. Now, that doesn't mean people leaving because population grows in the denominator. It does present some fundamental change going on since 2001.

um...yeah...it is called outsourcing manufacturing.
Has no one noticed just how many 20 somethings are still living with their parents with no job? Seriously - they are everywhere. I don't think this has ever been like this before.

Outsourcing of manufacturing doesn't explain the trend. That would just make it harder to get a job, increasing unemployment rate. Yet when you look at unemployment in 2001 of around 4.7% then in 2006 at 4.6%, it should have been easier to get a job, not harder, yet labor force participation fell by over 1%

 

[iamwhatiseem]

This is more interesting. The is the employment level and labor force level to population since 1960.

Curiously, the general downward trend in the labor force began in 2001. Now, that doesn't mean people leaving because population grows in the denominator. It does present some fundamental change going on since 2001.

um...yeah...it is called outsourcing manufacturing.
Has no one noticed just how many 20 somethings are still living with their parents with no job? Seriously - they are everywhere. I don't think this has ever been like this before.

Outsourcing of manufacturing doesn't explain the trend. That would just make it harder to get a job, increasing unemployment rate. Yet when you look at unemployment in 2001 of around 4.7% then in 2006 at 4.6%, it should have been easier to get a job, not harder, yet labor force participation fell by over 1%

Hmm...well one thing is government taxpayer funded 2-3 year party tickets for whoever wants to party for as long as they can get away with it (attend college). Use to, before the government drove tuition through the roof, kids would work their way through college - with full tuition plus money for room and board - kids no longer have to work.
That would definitely be a part of it.

 

[MeBelle]

your joy is palpable

You mistake 'joy' for sadness.

Dictionary.com is your friend.

 

[itfitzme]

oh and hey get a load of this, Edthecynic says that a major factor as to why the labor force participation rate is down is due to retirees leaving the work force ............and when I ask him why the jobs being filled by new workers after the retirees leave is not counted as job created in the employment figures he won't answer me......so this month, how many retirees left the work force? god knows....

Well, actually the BLS knows.

So, what is your unqualified option of why the labor force participation is down?

Why is it that the majority of the flow has been from employment to not in the labor force?

Here are the yearly numbers.

Date.....................4/1/2012............4/1/2011
CPOPNSA.............242784.............239146
CLFNSA................153905.............152898
EmpLevelNSA........141995.............139661
UnempNSA..............11910..............13237
NILFNSA..................88879..............86248

Look, everything is up except unemployment


Date....................2011-4 to 2012-4
CPOPNSA...............1.52%
CLFNSA...................0.66%
EmpLevelNSA...........1.67%
UnempNSA............-10.02%
NILFNSA.................3.05%

Look, labor force is up, just not as musch as population. Employment is up more.


Description........................................Flow.........NetFlow
LFFEtoUn........................................25139...........3320
LFFUnToE........................................28459

More people left unemployment to be employed then the other way round

LFFEtoNILF........................................44737.................-2139
LFFNILFtoE........................................42598

More people left employment to be not in labor force then other way around

LFFUnToNILF........................................35093.........-1744
LFFNILFtoUn........................................33349.

More people left not in labor force to be unemployed then the other way around

More people left employment to NILF then left unemployment to NILF
More people went directly to employment from NILF then went from unemployment to NILF

EmpToMargOutlofw.................................366
MargInflowsToE........................................1517 1151

1.5 million joined employment directly from outside CPOP. Partly replacing the 360 thousand that left.

UnToOtherMargOutflows........................................31
MargInflowsToUn........................................280 249

NILFToOtherMargOutflows ........................................2291
MargInflowsToNILF........................................4526.................2235

4.5 million joined NILF from outside CPOP.

Here Is the NILF by age group.

Which two groups are the largest? Graduating students and retirees. OMG, look at that.


So what was that unqualified opinion of yours?

 

[itfitzme]

um...yeah...it is called outsourcing manufacturing.
Has no one noticed just how many 20 somethings are still living with their parents with no job? Seriously - they are everywhere. I don't think this has ever been like this before.

Outsourcing of manufacturing doesn't explain the trend. That would just make it harder to get a job, increasing unemployment rate. Yet when you look at unemployment in 2001 of around 4.7% then in 2006 at 4.6%, it should have been easier to get a job, not harder, yet labor force participation fell by over 1%

Hmm...well one thing is government taxpayer funded 2-3 year party tickets for whoever wants to party for as long as they can get away with it (attend college). Use to, before the government drove tuition through the roof, kids would work their way through college - with full tuition plus money for room and board - kids no longer have to work.
That would definitely be a part of it.

Dude, you've watched Animal House to many times. I graduated with an undergrad in engineering in 1990. I attended again in 2001, graduating with an MBA in '05. I can guarantee you that the majority of college students are to busy studying to party. None of them are attending as long as they can. And the majority of them are either working or being responsible to someone else, usually a spouse, that is helping them out.

And they are all serious as fuck when it comes to studying and making the grade. If they wanted to party, they wouldn't have bothered to be there.

 

[freedombecki]

Did you know Bush presided over 6 1/2 years of a down market?

How's that again?

chart of Dow Jones Average 2000-present

Maybe you're thinking of something else.
​

 

[rdean]

Strange - Chris normally makes at least 20 threads about Jobs Growth...hmm...hasn't made any about April and May...wonder why??

Since sending jobs to China was Bush and the Republicans greatest accomplishment (besides Iraq and the economy), you would think they would be thrilled with their handiwork.