More economic good news, unemployment rate drops to 8.6%

[Mr.Nick]

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.

Our dollar changes daily - as a matter of fact every second.... A yearly report or even a quarterly report means nothing..

Not to mention I don't trust the government at all....

Like I said tho - an orange could be 50 cents one day and 1.50 the next...

One could only speculate how many oranges are out there - not to mention placing a monetary value on them to conclude how many there are...

 

[Toro]

It was a pretty good - not great - report. It certainly appears that the US isn't slipping into a recession.

The November jobs report overall came in with improvement, though there were mixed results. The unemployment rate unexpectedly dropped sharply. Payroll jobs in November advanced a relatively strong 120,000 after gaining a revised 100,000 in October (originally 80,000) and increased a revised 210,000 in September (previously 158,000). Analysts forecast a 131,000 boost in overall payrolls. Revisions for September and October were up net 72,000.

Once again, private payrolls gained more than overall. Private nonfarm payrolls gained 140,000, following a 117,000 increase in October and 220,000 rise in September. The November boost fell short of market expectations for a 150,000 increase.

In the private sector, goods-producing jobs slipped 6,000 after a 4,000 decrease in October and 36,000 boost in September. Construction jobs fell 12,000 in October after decreasing 15,000 the month before. Manufacturing employment edged up 2,000 after a 6,000 rise in October. Mining increased 2,000, following a 6,000 rise the prior month.

Private service-providing jobs advanced 146,000 in November, following a 121,000 gain the prior month. The November increase was led by trade & transportation (up 58,000), professional & business services (up 33,000), leisure & hospitality (up 22,000), health care (up 12,000). The temp help subcomponent of professional & business services rose 22,000 after a 16,000 gain.

The public sector continued to decline as government employment decreased 20,000, following a 17,000 drop in October. ...

From the household survey, the unemployment rate unexpectedly dropped to 8.6 percent from 9.0 percent in October. The consensus forecast called for 9.0 percent. The rate decline reflected a 594,000 fall in the number of unemployed and a 278,000 increase in household employment. Basically, the unemployment rate fell largely due to a decline in the participation rate although household employment growth recently continues to exceed payroll jobs growth by a notable degree.

Econoday Report: Employment Situation December 2, 2011

I think I heard this morning that the decline in the participation rate shaved 0.2% off the unemployment rate. Thus, without this decline, the rate would have been 8.8%, not 8.6%.

 

[Toro]

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.

Our dollar changes daily - as a matter of fact every second.... A yearly report or even a quarterly report means nothing..

Not to mention I don't trust the government at all....

Like I said tho - an orange could be 50 cents one day and 1.50 the next...

One could only speculate how many oranges are out there - not to mention placing a monetary value on them to conclude how many there are...

An orange could fluctuate like that.

But it doesn't.

 

[Jackson]

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!!

Okay, let's see, that 6 tenths of one percent in 35 months. How many terms in office does this president need? Maybe only 16 more years.

http://www.nytimes.com/2008/09/06/business/economy/06econ.html?pagewanted=all

 

[Mr.Nick]

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

I'm a ******* libertarian.... Sorry if I sympathize and show my conservative side at times, that doesn't mean I'm Billy ******* O...

I've never been called an imposter er impostor before...

At least I can spell the ******* word....

 

[pinqy]

Our dollar changes daily - as a matter of fact every second....

But prices don't change that quckly, so you have no point.

A yearly report or even a quarterly report means nothing..

You look at the prices of items in the first period and compare them to the prices in the second period and use the difference to adjust your measurements in those periods. Frequency of change doesn't matter, only the change between the time periods you're comparing.

Like I said tho - an orange could be 50 cents one day and 1.50 the next...

And that can be adjusted for. If on the first day we measure $50 of oranges produced, and the next day we measure $142.50 produced, and we know the price has changed, we do the math and see that orange production has gone down 5%.

 

[Mr.Nick]

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.

Macro is the problem when we should be practicing microeconomics...

Why the **** you think we have the problems we do???

 

[Mr.Nick]

Our dollar changes daily - as a matter of fact every second....

But prices don't change that quckly, so you have no point.

A yearly report or even a quarterly report means nothing..

You look at the prices of items in the first period and compare them to the prices in the second period and use the difference to adjust your measurements in those periods. Frequency of change doesn't matter, only the change between the time periods you're comparing.

Like I said tho - an orange could be 50 cents one day and 1.50 the next...

And that can be adjusted for. If on the first day we measure $50 of oranges produced, and the next day we measure $142.50 produced, and we know the price has changed, we do the math and see that orange production has gone down 5%.

"prices don't change that quickly?"

The hell they don't...

See what you would pay for corn if the Mid West hand a bad growing season.....

 

[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!!

Okay, let's see, that 6 tenths of one percent in 35 months. How many terms in office does this president need? Maybe only 16 more years.

U.S. Jobless Rate Rises Past 6%, Highest Since ’03 - NYTimes.com

from your link-
U.S. Jobless Rate Rises Past 6%, Highest Since ’03


By LOUIS UCHITELLE
Published: September 5, 2008


SNIP-

Mr. Obama jumped on the latest report, declaring that Democrats would do more to help struggling Americans. “You would think that George Bush and his potential Republican successor, John McCain, would be spending a lot of time worrying about the economy and all these jobs that are being lost on their watch,” he said at a campaign stop in Duryea, Pa. But, “if you watched the Republican National Convention over the last three days, you wouldn’t know that we have the highest unemployment rate in five years.”



and tonight? Obama is off to Hawaii for a 3 week vacation....

 

[candycorn]

Unemployment rate falls to 8.6% in November


(AP) Washington (AP) —The unemployment rate fell last month to its lowest level in more than two and a half years, as employers stepped up hiring in response to the slowly improving economy.

The Labor Department says the unemployment rate dropped sharply to 8.6% last month, from 9% in October. The rate hasn't been that low since March 2009, during the depths of the recession.
Employers added 120,000 jobs last month. And the previous two months were revised up to show that 72,000 more jobs added — the fourth straight month the government revised prior months higher.
Still, one reason the unemployment rate fell so much was because roughly 315,000 people gave up looking for work and were no longer counted as unemployed.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

I'm sure you knew what the response would be from the anti-President crowd. If Obama cured cancer, their response would be..."I knew he was too chicken to tackle AIDS."

The partisan hackery is almost palpable in these people.

 

[Mr.Nick]

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.

Macro is the problem when we should be practicing microeconomics...

Why the **** you think we have the problems we do???

Because morons like you are allowed to breath and reproduce?

Too harsh?


You asked.

I'm sure the same was said to that one dude about oranges falling from the tree or that other guy that figured out light could bend...

Graaavity what the **** does that mean?

 

[8537]

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

I'm a ******* libertarian....

And an uneducated ******* idiot.

Sorry if I sympathize and show my conservative side at times, that doesn't mean I'm Billy ******* O...

I have nothing at all against conservatives or conservative views. Just dumb people who would jump down a rabbit hole than admit they are wrong.

 

[LoneLaugher]

Macro is the problem when we should be practicing microeconomics...

Why the **** you think we have the problems we do???

Because morons like you are allowed to breath and reproduce?

Too harsh?


You asked.

I'm sure the same was said to that one dude about oranges falling from the tree or that other guy that figured out light could bend...

How sure are you?

 

[8537]

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.

Macro is the problem when we should be practicing microeconomics...

Why the **** you think we have the problems we do???

"Practicing microeconomics"? How does one practice micro?

How can someone claiming a hypothesis that GDP never shrinks also claim that Macro is the problem?

 

[pinqy]

Our dollar changes daily - as a matter of fact every second....

But prices don't change that quckly, so you have no point.

You look at the prices of items in the first period and compare them to the prices in the second period and use the difference to adjust your measurements in those periods. Frequency of change doesn't matter, only the change between the time periods you're comparing.

Like I said tho - an orange could be 50 cents one day and 1.50 the next...

And that can be adjusted for. If on the first day we measure $50 of oranges produced, and the next day we measure $142.50 produced, and we know the price has changed, we do the math and see that orange production has gone down 5%.

"prices don't change that quickly?"

The hell they don't...

See what you would pay for corn if the Mid West hand a bad growing season.....

"After a season" is not changing every second. And don't confuse commodity market prices and futures with inflation. A bad growing season happens, the store managers don't go out to the produce section and instantly change the prices. It'll take a while to change, depending on when they need to order more etc etc.

Gas prices can change pretty quickly, but not "every second."

 

[Mr.Nick]

Because morons like you are allowed to breath and reproduce?

Too harsh?


You asked.

I'm sure the same was said to that one dude about oranges falling from the tree or that other guy that figured out light could bend...

N'aw, just to idiots who blatantly disregard the fundamental basics of how our economy is measured.

Your fundamental basics are a farce to capitalism dummy..

Sorry to explain to you that I'm a real capitalist and find this bullshit Keynesian crap such.

Now fools like you may as well draft a 5-year plan because I don't play your ignorant bullshit..

 

[jimmyjam]

Yeah, and the stock market can only go up (?) from the abyss, now can't it? The NASDAQ hung around 12,500 when we last had a real president; Pa to Ma, coming out of the storm cellar: "Well, the house and the farm's gone, and the cattle are all dead ... but ain't it great that the wind's stopped blowin'!"