More economic good news: 173,000 jobs added, unemployment drops to 5.1%

[rightwinger]

So I see we're still pretending 173K is good.

Partisan opinions on the economy are always a hoot.
.

Give it a month or so and they will be revised to the 200,000 range. Not good on their own, but good in an overall trend

 

[Mac1958]

So I see we're still pretending 173K is good.

Partisan opinions on the economy are always a hoot.
.

Give it a month or so and they will be revised to the 200,000 range. Not good on their own, but good in an overall trend

That's very possible - the story is usually that initial August numbers are the least accurate of any month of the year.

I have no idea why, I've heard a few theories.

The data remain mixed, but a little more good news could help with momentum.
.

 

[Avorysuds]

A gain of just 173,000 jobs and a 0.2% drop in the unemployment rate are not congruent.

This effect is generally equated with more people dropping out of looking for jobs.

Anyone who follows this stuff knows that.

We need at LEAST 250,000 jobs for an extended period to achieve escape velocity.
.

Yup and 5.1 isn't the true figure. Oh and the Fed is getting ready to let inflation loose. Something they have been controlling since 2008. I'm looking forward to that as I'm sure most of America is. NOT

5.1% is the true U3 number used to measure employment
Of you want to talk U6 you can start with how that number has dropped by 6%

So you admit that 5.1 is not good news as you admit it's a bullshit number that in no way reflects the actual UE rate in the country.

Thanks RW!

Or wait!

Good news, RW tells everyone how Republicans block everything Obama wants and the UE rate drops to 5.1%! RW credits Republicans for saving the country and thanks them for not allowing Obama's destructive policies to drag us down!

 

[MathewSmith]

Expected 220k but only got 170k Pitiful. Is it even possible for the Unemployment rate to go back up with the way the Fed. and Government calculates it now? We currently have the lowest workforce participation rate in over 35 years.

 

[Faun]

A gain of just 173,000 jobs and a 0.2% drop in the unemployment rate are not congruent.

This effect is generally equated with more people dropping out of looking for jobs.

Anyone who follows this stuff knows that.

We need at LEAST 250,000 jobs for an extended period to achieve escape velocity.
.

Pure bullshit!

First of all there were UPWARD revisions for the previous 2 months, and secondly it takes only 111,853 jobs per month to maintain the previous 5.3% rate and keep up with population growth.

From the BLS report:

"The change in total nonfarm payroll employment for June was revised from
+231,000 to +245,000, and the change for July was revised from +215,000 to
+245,000. With these revisions, employment gains in June and July combined
were 44,000 more than previously reported. Over the past 3 months, job
gains have averaged 221,000 per month."

If the numbers are revised upward, great.

Also, August is known as being a fairly inaccurate figure.

We'll see. Calm down.
.

True, August is typically revised upwards. There were likely more than 173,000 jobs added last month.

 

[Mac1958]

A gain of just 173,000 jobs and a 0.2% drop in the unemployment rate are not congruent.

This effect is generally equated with more people dropping out of looking for jobs.

Anyone who follows this stuff knows that.

We need at LEAST 250,000 jobs for an extended period to achieve escape velocity.
.

Pure bullshit!

First of all there were UPWARD revisions for the previous 2 months, and secondly it takes only 111,853 jobs per month to maintain the previous 5.3% rate and keep up with population growth.

From the BLS report:

"The change in total nonfarm payroll employment for June was revised from
+231,000 to +245,000, and the change for July was revised from +215,000 to
+245,000. With these revisions, employment gains in June and July combined
were 44,000 more than previously reported. Over the past 3 months, job
gains have averaged 221,000 per month."

If the numbers are revised upward, great.

Also, August is known as being a fairly inaccurate figure.

We'll see. Calm down.
.

True, August is typically revised upwards. There were likely more than 173,000 jobs added last month.

Yep, fingers crossed.
.

 

[Faun]

Expected 220k but only got 170k Pitiful. Is it even possible for the Unemployment rate to go back up with the way the Fed. and Government calculates it now? We currently have the lowest workforce participation rate in over 35 years.

What calculation changes have they made?

 

[rightwinger]

A gain of just 173,000 jobs and a 0.2% drop in the unemployment rate are not congruent.

This effect is generally equated with more people dropping out of looking for jobs.

Anyone who follows this stuff knows that.

We need at LEAST 250,000 jobs for an extended period to achieve escape velocity.
.

Yup and 5.1 isn't the true figure. Oh and the Fed is getting ready to let inflation loose. Something they have been controlling since 2008. I'm looking forward to that as I'm sure most of America is. NOT

5.1% is the true U3 number used to measure employment
Of you want to talk U6 you can start with how that number has dropped by 6%

So you admit that 5.1 is not good news as you admit it's a bullshit number that in no way reflects the actual UE rate in the country.

Thanks RW!

Or wait!

Good news, RW tells everyone how Republicans block everything Obama wants and the UE rate drops to 5.1%! RW credits Republicans for saving the country and thanks them for not allowing Obama's destructive policies to drag us down!

Considering where we came from, 5.1% is not good news, it is GREAT news

Well done by President Obama.....ignore the taunts from the right and stay the course

 

[rightwinger]

Expected 220k but only got 170k Pitiful. Is it even possible for the Unemployment rate to go back up with the way the Fed. and Government calculates it now? We currently have the lowest workforce participation rate in over 35 years.

Why shouldn't we have a low workforce participation rate?
4 million baby boomers retire each year. That means 4 million Americans are no longer PARTICIPATING in the workforce

The rate was low 35 years ago because baby boomers were just starting to PARTICIPATE in the workforce

 

[Faun]

A gain of just 173,000 jobs and a 0.2% drop in the unemployment rate are not congruent.

This effect is generally equated with more people dropping out of looking for jobs.

Anyone who follows this stuff knows that.

We need at LEAST 250,000 jobs for an extended period to achieve escape velocity.
.

Yup and 5.1 isn't the true figure. Oh and the Fed is getting ready to let inflation loose. Something they have been controlling since 2008. I'm looking forward to that as I'm sure most of America is. NOT

5.1% is the true U3 number used to measure employment
Of you want to talk U6 you can start with how that number has dropped by 6%

So you admit that 5.1 is not good news as you admit it's a bullshit number that in no way reflects the actual UE rate in the country.

Thanks RW!

Or wait!

Good news, RW tells everyone how Republicans block everything Obama wants and the UE rate drops to 5.1%! RW credits Republicans for saving the country and thanks them for not allowing Obama's destructive policies to drag us down!

Considering where we came from, 5.1% is not good news, it is GREAT news

Well done by President Obama.....ignore the taunts from the right and stay the course

At this point in Reagan's presidency, the unemployment rate was 5.9%.

 

[rightwinger]

A gain of just 173,000 jobs and a 0.2% drop in the unemployment rate are not congruent.

This effect is generally equated with more people dropping out of looking for jobs.

Anyone who follows this stuff knows that.

We need at LEAST 250,000 jobs for an extended period to achieve escape velocity.
.

Yup and 5.1 isn't the true figure. Oh and the Fed is getting ready to let inflation loose. Something they have been controlling since 2008. I'm looking forward to that as I'm sure most of America is. NOT

5.1% is the true U3 number used to measure employment
Of you want to talk U6 you can start with how that number has dropped by 6%

So you admit that 5.1 is not good news as you admit it's a bullshit number that in no way reflects the actual UE rate in the country.

Thanks RW!

Or wait!

Good news, RW tells everyone how Republicans block everything Obama wants and the UE rate drops to 5.1%! RW credits Republicans for saving the country and thanks them for not allowing Obama's destructive policies to drag us down!

Considering where we came from, 5.1% is not good news, it is GREAT news

Well done by President Obama.....ignore the taunts from the right and stay the course

At this point in Reagan's presidency, the unemployment rate was 5.9%.

Reagans unemployment rate never dropped below 5.3%, but then again, Reagan was no Obama

 

[Rozman]

Yup and 5.1 isn't the true figure. Oh and the Fed is getting ready to let inflation loose. Something they have been controlling since 2008. I'm looking forward to that as I'm sure most of America is. NOT

5.1% is the true U3 number used to measure employment
Of you want to talk U6 you can start with how that number has dropped by 6%

So you admit that 5.1 is not good news as you admit it's a bullshit number that in no way reflects the actual UE rate in the country.

Thanks RW!

Or wait!

Good news, RW tells everyone how Republicans block everything Obama wants and the UE rate drops to 5.1%! RW credits Republicans for saving the country and thanks them for not allowing Obama's destructive policies to drag us down!

Considering where we came from, 5.1% is not good news, it is GREAT news

Well done by President Obama.....ignore the taunts from the right and stay the course

At this point in Reagan's presidency, the unemployment rate was 5.9%.

Reagans unemployment rate never dropped below 5.3%, but then again, Reagan was no Obama

I think President Reagan would be fine with that....

 

[fbj]

Cue outrage over workforce participation rate

Employers added 173,000 jobs in a key report that could help the Federal Reserve decide whether to raise interest rates later this month.
The unemployment rate fell from 5.3% to 5.1%, lowest since March 2008.


Jobs

Anyone who takes this seriously is a retard. Lots of people are no longer counted because there are no more extensions

 

[fbj]

The media must think I am retarded

 

[fbj]

A gain of just 173,000 jobs and a 0.2% drop in the unemployment rate are not congruent.

This effect is generally equated with more people dropping out of looking for jobs.

Anyone who follows this stuff knows that.

You are correct, but is it "dropping out" or "leaving?" Those not in the labor force, want a job now went down. Marginally attached went down . Discouraged workers went down. The drop in the labor force was people who don't want or need a job.

We need at LEAST 250,000 jobs for an extended period to achieve escape velocity.
.

Where are you getting that number from?

The drop was because people don't want or need a job and not because of no more extensions?

Are you retarded?

 

[fbj]

Sure hope you're right. UE sucks and there are plenty of people out there who have just stopped looking and are no longer counted.

No one who likes eating everyday stops looking for work you stupid mutherfucker

 

[RKMBrown]

Cue outrage over workforce participation rate

Employers added 173,000 jobs in a key report that could help the Federal Reserve decide whether to raise interest rates later this month.
The unemployment rate fell from 5.3% to 5.1%, lowest since March 2008.


Jobs

And in other news Americans can't find jobs as Democrats continue to flood the job market with low wage workers from overseas.

 

[fbj]

Cue outrage over workforce participation rate

Employers added 173,000 jobs in a key report that could help the Federal Reserve decide whether to raise interest rates later this month.
The unemployment rate fell from 5.3% to 5.1%, lowest since March 2008.


Jobs

And in other news Americans can't find jobs as Democrats continue to flood the job market with low wage workers from overseas.

Well I wouldn't be aiming for those jobs anyway since they are for low wage

 

[Old Rocks]

The media must think I am retarded

Oh, a great many more than just the media.

 

[fbj]

The media must think I am retarded

Oh, a great many more than just the media.

LOL. Well I am retarded when it comes to dating