More economic good news, unemployment rate drops to 8.6%

[LoneLaugher]

How can you get tired of crap that YOU make up? Just stop making it up and you'll be fine.

 

[Trajan]

That;s why they remove the seasonal workers from the count. Which is how the raw numbers for last month were about 350,000 while the top line number was 120,000 - they adjusted for seasonal hiring.

Which is the point.

The 315,000 seasonal drop in the civilian labor force is almost unprecedented for a November. Since 1982, there have been only 7 times the labor force has dropped between an October and a November, and only 3 times has the drop been even close to this steep. In 2002, 273,000 departed the labor force, in 2008, 332,000 departed the labor force, and in 2009, 227,000 departed the labor force.

Employment Situation Summary

Oh! That's awful! Everyone..........stop shopping immediately. The news is awful!

what are you babbling about?

 

[Mr.Nick]

Tonight, we learn that the Great Depression never happened. The economy grew throughout the entire period! The Depression was just the mainstream media trying to make people mad at Hoover.

Who the hell said that???

You did, though I have no doubt you don't realize it. The Depression was an era of GDP contraction, which of course you claim can't happen because it violates economic law.

And that violation of economic law gave my grandparents the depression...

The depression is the result of the violation....

Actions have consequences - this is why I hate those who champion dictated economies such as socialism...

People suffered because our government liked to **** with our money....

 

[8537]

Well I suppose that's the point....

Season - seasonal workers - as in people who will not have a job come first quarter...

That;s why they remove the seasonal workers from the count. Which is how the raw numbers for last month were about 350,000 while the top line number was 120,000 - they adjusted for seasonal hiring.

Which is the point.

The 315,000 seasonal drop in the civilian labor force is almost unprecedented for a November. Since 1982, there have been only 7 times the labor force has dropped between an October and a November, and only 3 times has the drop been even close to this steep. In 2002, 273,000 departed the labor force, in 2008, 332,000 departed the labor force, and in 2009, 227,000 departed the labor force.

Employment Situation Summary

What does that have to do with seasonal adjustments?

 

[8537]

GDP always goes up.. It has to by economic law...

The GDP isn't quicksand....

This should be interesting....where can I find a cite for this law? Next time I visit BEA and talk to the folks who actually calculate GDP I'll let them know. They certainly don't know about it.

Gross domestic product is not difficult to understand..

World Bank, World Development Indicators - Google Public Data Explorer

Funny how we had republican and liberal presidents and congress' from 1960 and the GDP NEVER went down then all of a sudden it does???

GDP went down for a period in the 1960's. For three periods during the 1970's, two during the 1980's, one in the 1990's and two in the 2000's.

It can't go down - its impossible ... The only possible way for our GDP to go down would be with the value of our money...

No, it's quite possible. If our economy produces less goods and services /has less income this quarter relative to las quarter, GDP will go down.

It's amazing someone will continue to stand by such a stupid claim.

 

[8537]

Who the hell said that???

You did, though I have no doubt you don't realize it. The Depression was an era of GDP contraction, which of course you claim can't happen because it violates economic law.

And that violation of economic law gave my grandparents the depression...

The depression is the result of the violation....

Actions have consequences - this is why I hate those who champion dictated economies such as socialism...

People suffered because our government liked to **** with our money....

What violation of economic law? Describe the law for us, please. and it's foundation. I know you think it will require a 50-pg thesis, but surely you can at least enlighten us with the abstract of this work of genius overturning two centuries of economic theory.

 

[Mr.Nick]

This should be interesting....where can I find a cite for this law? Next time I visit BEA and talk to the folks who actually calculate GDP I'll let them know. They certainly don't know about it.

Gross domestic product is not difficult to understand..

World Bank, World Development Indicators - Google Public Data Explorer

Funny how we had republican and liberal presidents and congress' from 1960 and the GDP NEVER went down then all of a sudden it does???

GDP went down for a period in the 1960's. For three periods during the 1970's, two during the 1980's, one in the 1990's and two in the 2000's.

It can't go down - its impossible ... The only possible way for our GDP to go down would be with the value of our money...

No, it's quite possible. If our economy produces less goods and services /has less income this quarter relative to las quarter, GDP will go down.

It's amazing someone will continue to stand by such a stupid claim.

It's a lie because it can't.....

That was the baby boom to boot...

How can a population explode while GDP goes down???

 

[8537]

How can a population explode while GDP goes down???

By incomes declining and the economy producing less goods and services, which are two ways of saying the same thing. The causes of declining incomes are a bit more complex, but one obvious way for that to happen is a drop in demand for goods and services.

 

[Mr.Nick]

You did, though I have no doubt you don't realize it. The Depression was an era of GDP contraction, which of course you claim can't happen because it violates economic law.

And that violation of economic law gave my grandparents the depression...

The depression is the result of the violation....

Actions have consequences - this is why I hate those who champion dictated economies such as socialism...

People suffered because our government liked to **** with our money....

What violation of economic law? Describe the law for us, please. and it's foundation. I know you think it will require a 50-pg thesis, but surely you can at least enlighten us with the abstract of this work of genius overturning two centuries of economic theory.

The law dictated economies fail...

I've said for years capitalism regulates itself...

 

[pinqy]

Gross domestic product is not difficult to understand..

Apparently it is for you if you think it can't go down. I don't need your link, I have a lot of stuff from BEA explaining all different facets. The basic formula is Y=C+I+G+NX So Y goes down if C or I or G or NX or any combination goes down by more than any positive change. That's 1st grade math.

Funny how we had republican and liberal presidents and congress' from 1960 and the GDP NEVER went down then all of a sudden it does???

2nd Quarter 1960, -1.9
4th Quarter 1969, -1.9,
1st Quarter 1970, -0.6
4th Quarter 1970 -4.2
3rd Quarter 1973 -2.1
1st Quarter 1974 -3.5
3rd Quarter 1974 -3.9
4th Quarter 1974 -1.6

And I haven't even reached the recessions yet.

It can't go down - its impossible ... The only possible way for our GDP to go down would be with the value of our money...

So if there is a possible way then it's not impossible. And no, it has nothing to do with the value of our money.

 

[Zander]

If the the labor force participation rate were back at its January 2009 level, the U-3 rate would be 11.0 percent.

WOO HOO!!! Obama is great!!

 

[Mr.Nick]

How can a population explode while GDP goes down???

By incomes declining and the economy producing less goods and services, which are two ways of saying the same thing. The causes of declining incomes are a bit more complex, but one obvious way for that to happen is a drop in demand for goods and services.

But you're not looking at its value when that's all that matters - at least to government..

Our GDP is like piling bricks on top of bricks without playing Jinga.. And even if you do pull a few 10 more are added...

GDP is measured in $$$$ not actual production or accumulated product therefore its based on the dollar not what was produced...

 

[pinqy]

How can a population explode while GDP goes down???

By incomes declining and the economy producing less goods and services, which are two ways of saying the same thing. The causes of declining incomes are a bit more complex, but one obvious way for that to happen is a drop in demand for goods and services.

But you're not looking at its value when that's all that matters - at least to government..

Our GDP is like piling bricks on top of bricks without playing Jinga.. And even if you do pull a few 10 more are added...

GDP is measured in $$$$ not actual production or accumulated product therefore its based on the dollar not what was produced...

And Real GDP is adjusted for inflation, so changes in dollar value don't really matter. Or you can look at it in chained dollars.

 

[Trajan]

If the the labor force participation rate were back at its January 2009 level, the U-3 rate would be 11.0 percent.

WOO HOO!!! Obama is great!!

 

[Mr.Nick]

Gross domestic product is not difficult to understand..

Apparently it is for you if you think it can't go down. I don't need your link, I have a lot of stuff from BEA explaining all different facets. The basic formula is Y=C+I+G+NX So Y goes down if C or I or G or NX or any combination goes down by more than any positive change. That's 1st grade math.

Funny how we had republican and liberal presidents and congress' from 1960 and the GDP NEVER went down then all of a sudden it does???

2nd Quarter 1960, -1.9
4th Quarter 1969, -1.9,
1st Quarter 1970, -0.6
4th Quarter 1970 -4.2
3rd Quarter 1973 -2.1
1st Quarter 1974 -3.5
3rd Quarter 1974 -3.9
4th Quarter 1974 -1.6

And I haven't even reached the recessions yet.

It can't go down - its impossible ... The only possible way for our GDP to go down would be with the value of our money...

So if there is a possible way then it's not impossible. And no, it has nothing to do with the value of our money.

GDP is measured in $$$$$$$$ not in production ...

That's the problem....

Our dollar fluctuates so how could anyone put a value on anything???

That's why the GDP formula is wrong...

An orange may be worth .50 cents today but in a month they could be worth $1.50...

So how the hell can you gauge domestic product with a fluctuating market???

 

[8537]

How can a population explode while GDP goes down???

By incomes declining and the economy producing less goods and services, which are two ways of saying the same thing. The causes of declining incomes are a bit more complex, but one obvious way for that to happen is a drop in demand for goods and services.

But you're not looking at its value when that's all that matters - at least to government..

Our GDP is like piling bricks on top of bricks without playing Jinga.. And even if you do pull a few 10 more are added...

GDP is measured in $$$$ not actual production or accumulated product therefore its based on the dollar not what was produced...

Every time you post, you prove yourself to be just a bit more ignorant of the most basic macroeconomic concepts. GDP IS actual production. it is adjusted for changes in the purchasing power of money.

I don't know which radio show gave you your economics education, but you should demand a refund.

 

[Toro]

Gross domestic product is not difficult to understand..

Apparently it is for you if you think it can't go down. I don't need your link, I have a lot of stuff from BEA explaining all different facets. The basic formula is Y=C+I+G+NX So Y goes down if C or I or G or NX or any combination goes down by more than any positive change. That's 1st grade math.




2nd Quarter 1960, -1.9
4th Quarter 1969, -1.9,
1st Quarter 1970, -0.6
4th Quarter 1970 -4.2
3rd Quarter 1973 -2.1
1st Quarter 1974 -3.5
3rd Quarter 1974 -3.9
4th Quarter 1974 -1.6

And I haven't even reached the recessions yet.

It can't go down - its impossible ... The only possible way for our GDP to go down would be with the value of our money...

So if there is a possible way then it's not impossible. And no, it has nothing to do with the value of our money.

GDP is measured in $$$$$$$$ not in production ...

That's the problem....

Our dollar fluctuates so how could anyone put a value on anything???

That's why the GDP formula is wrong...

An orange may be worth .50 cents today but in a month they could be worth $1.50...

So how the hell can you gauge domestic product with a fluctuating market???

Because GDP is adjusted for inflation.

 

[8537]

Mr.Nick must be an imposter from DailyKos, sent here to make right-wingers look like morons. That's the only explanation.