U.S. Creates 288,000 Jobs In June, Unemployment Rate Dips To 6.1%

[Mad_Cabbie]

The numbers may once again be fake as THIS WOULD HAVE TO BE IMPOSSIBLE considering how BAD off the country is, right? I'm sure that we can find a higher figure somewhere ... guys?

U.S. Creates 288,000 Jobs In June, Unemployment Rate Dips To 6.1%

The U.S. economy added 288,000 jobs in June, as the unemployment rate falls to 6.1 percent, the Bureau of Labor Statistics reported Thursday.

More from the AP:

WASHINGTON (AP) -- U.S. employers accelerated their hiring last month, adding a robust 288,000 jobs and helping drive the unemployment rate to 6.1 percent, the lowest since September 2008.

It was the fifth straight monthly job gain above 200,000 - the best such stretch since the late 1990s tech boom. In the past 12 months, the economy has added nearly 2.5 million jobs - an average of 208,000 a month, the fastest year-over-year pace since 2006.

Still, wages have yet to rise significantly despite an economic recovery now entering its sixth year. Eventually, analysts say, the falling unemployment rate should cause pay to rise more sharply.

Thursday's jobs report from the Labor Department made clear that the U.S. economy is moving steadily closer to full health after having shrunk at the start of the year. Growth is picking up even as major economies in Europe and Asia continue to struggle. On Thursday, the European Central Bank kept interest rates unchanged despite signs that the 18-country eurozone economy is losing momentum.

June's healthy U.S. job growth followed additions of 217,000 jobs in May and 304,000 in April, figures that were both revised upward. Monthly job gains so far this year have averaged 230,833, up from 194,250 in 2013.

Investors appeared pleased by the news. When stock markets opened Thursday, an hour after the government released the jobs report, the Dow Jones industrial average traded above 17,000 for first time. By early afternoon, the Dow was up about 90 points. Broader stock averages also rose sharply.

The unemployment rate dipped in June from 6.3 percent in May to its lowest level since the financial crisis struck at full force in the fall of 2008 with the bankruptcy of the Wall Street firm Lehman Brothers.

"Since February, this has now become a textbook jobs expansion," said Patrick O'Keefe, director of economic research at the consultancy CohnReznick. "It is both broad and accelerating."

U.S. Creates 288,000 Jobs In June, Unemployment Rate Dips To 6.1%

Numbers are once again FAKE people - the black man in the WH is keeping us down!!

 

[westwall]

It's easy to declare victory when you ignore all the looses you have been suffering.

People Not In Labor Force Soar By 663,000 To 90 Million, Labor Force Participation Rate At 1979 Levels

"Things just keep getting worse for the American worker, and by implication US economy, where as we have shown many times before, it pays just as well to sit back and collect disability and various welfare and entitlement checks, than to work .The best manifestation of this: the number of people not in the labor force which in March soared by a massive 663,000 to a record 90 million Americans who are no longer even looking for work. This was the biggest monthly increase in people dropping out of the labor force since January 2012, when the BLS did its census recast of the labor numbers. And even worse, the labor force participation rate plunged from an already abysmal 63.5% to 63.3% - the lowest since 1979! But at least it helped with the now painfully grotesque propaganda that the US unemployment rate is "improving."

People Not In Labor Force Soar By 663,000 To 90 Million, Labor Force Participation Rate At 1979 Levels | Zero Hedge

 

[Moonglow]

Why yes, I can see why the right is so cynical, it's their presidents and party that ruins the US and it's the left which has to straighten out the rights mess..I'd be cynical also..but after voting for Reagan, I learned my lessons about the party of God...

 

[ScienceRocks]

Why yes, I can see why the right is so cynical, it's their presidents and party that ruins the US and it's the left which has to straighten out the rights mess..I'd be cynical also..but after voting for Reagan, I learned my lessons about the party of God...

Honestly, what do you think of westwalls post? Would you think it is something to be concern about?

 

[westwall]

Why yes, I can see why the right is so cynical, it's their presidents and party that ruins the US and it's the left which has to straighten out the rights mess..I'd be cynical also..but after voting for Reagan, I learned my lessons about the party of God...

I'm a liberal Democrat moron. I also can read...which clearly you seem unable to do.

 

[Mad_Cabbie]

Why yes, I can see why the right is so cynical, it's their presidents and party that ruins the US and it's the left which has to straighten out the rights mess..I'd be cynical also..but after voting for Reagan, I learned my lessons about the party of God...

I'm a liberal Democrat moron. I also can read...which clearly you seem unable to do.

Could you please stop the bickering and stay on point, thanks.

I understand that many folks disagree with the US Bureau of Labor Statistics, but what would you have had to say if the numbers were bad? Bad as in high?

 

[Mad_Cabbie]

A Couple of issues, here:

1 Many more seniors are alive now as opposed to a few decades ago.

2 People are staying in school longer in order to get a better job.

.

 

[itfitzme]

The numbers may once again be fake as THIS WOULD HAVE TO BE IMPOSSIBLE considering how BAD off the country is, right? I'm sure that we can find a higher figure somewhere ... guys?

Um... No, the numbers are from the BLS CPS.

This is the Unemployment rate.

This is the Labor force participation ratio

This is the Employment to population ratio.

This is the not in labor force

This is the want a job now.

They are what they are.

 

[Mad_Cabbie]

They are what they are.

So, what of the increase in older people too old to work? That isn't figured in? Why?

 

[Old Rocks]

No matter how good the numbers are, the 'Conservatives' are going to deny them. After the shipwreck of the two terms of 'W', they simply cannot accept that a moderate liberal Democratic President who also happens to be black has staightened out their mess. It truly messes up their alternative reality.

 

[westwall]

Why yes, I can see why the right is so cynical, it's their presidents and party that ruins the US and it's the left which has to straighten out the rights mess..I'd be cynical also..but after voting for Reagan, I learned my lessons about the party of God...

I'm a liberal Democrat moron. I also can read...which clearly you seem unable to do.

Could you please stop the bickering and stay on point, thanks.

I understand that many folks disagree with the US Bureau of Labor Statistics, but what would you have had to say if the numbers were bad? Bad as in high?

Bad as in they are ignoring the MILLIONS who have been out of work and decided to not look for work anymore. It's a fact that we have fewer people in the work force now then when this all began.

If you have 100 people who were looking for work. And 20 of them stop looking for work so you now only count the 80, you're ignoring the real numbers. That gets you tossed in prison if you're a private businessman.

 

[SteadyMercury]

Bad as in they are ignoring the MILLIONS who have been out of work and decided to not look for work anymore.

Why would we care about counting people who have decided not to look for work? If they need to work badly enough they better get out and start looking for it.

If you have 100 people who were looking for work. And 20 of them stop looking for work so you now only count the 80, you're ignoring the real numbers.

But clearly Mad Cabbie's reference to changing demographics makes sense. I'm not claiming it explains 100% of the change in labor force (I have no idea) but surely you would concede the population is aging as with every other developed country and as you have a higher percentage of people in retirement age your labor force participation rate would drop even if availability of work remained constant.

 

[Jroc]

On the surface, this appeared to be a very strong jobs report from both the household survey and establishment survey perspective.

The establishment survey reported a gain of 288,000 jobs while the household survey sported a gain in employment of 407,000. In addition, May was revised up from +217,000 to + 224,000, and April revised up from +282,000 to +304,000.

Digging deeper into the details, strength was entirely part-time (and then some).

Voluntary part-time employment rose by a whopping 840,000 and involuntary part-time employment rose by 275,000.

Compared to a total gain of employment of 407,000, the gain in total part-time employment was 1,115,000. I confirmed with the BLS that one cannot directly subtract those numbers because of seasonal reporting.

However, one can compare seasonally-adjusted full-time employment this month to seasonally-adjusted full-time employment last month. Doing so shows a decline in full-time employment of 523,000!

Read more at Mish's Global Economic Trend Analysis: Nonfarm Payrolls +288,000, Unemployment Rate 6.1%; Voluntary Part-Time Employment +840,000; Full-Time Employment -523,000

 

[westwall]

Bad as in they are ignoring the MILLIONS who have been out of work and decided to not look for work anymore.

Why would we care about counting people who have decided not to look for work? If they need to work badly enough they better get out and start looking for it.

If you have 100 people who were looking for work. And 20 of them stop looking for work so you now only count the 80, you're ignoring the real numbers.

But clearly Mad Cabbie's reference to changing demographics makes sense. I'm not claiming it explains 100% of the change in labor force (I have no idea) but surely you would concede the population is aging as with every other developed country and as you have a higher percentage of people in retirement age your labor force participation rate would drop even if availability of work remained constant.

They're on public assistance now. In other words they are a net drain on the economy.
Rome found that when you have too many people on the dole you fail. We're heading that way right now.

 

[Mr. H.]

Obama has willingly and knowingly placed us in the shitter.

He has us where he wants us, and he has 3 years to finish the job.

And finish it he will.

Say your prayers, bitches.

 

[KissMy]

Obama is mopping the floor with both Bush's. They could only dream of having Obama's increased employment rates.

Bush took the employment rate of working age population from 74% down to 65%.

Bush destroyed 18 million jobs.

Obama took the employment rate of working age population from 65% up to 69%.

Obama restored or created 8 million jobs.

Employment is rising at increasing velocity. Last 5 months average 231k jobs added per month, last year the average was 194K jobs added per month.

The last time over 200,000 new jobs were created 5 months in a row was in 1999 when Bill Clinton was president!

 

[Oldstyle]

No matter how good the numbers are, the 'Conservatives' are going to deny them. After the shipwreck of the two terms of 'W', they simply cannot accept that a moderate liberal Democratic President who also happens to be black has staightened out their mess. It truly messes up their alternative reality.

Wow...talk about an "alternative reality"! I don't know what's more amusing...that you think Barack Obama is a moderate...or that you think that he's straightened anything out.

What, pray tell, has Barry straightened out? The economy? He's overseen the worst recovery from a recession since the Great Depression. The stock market has come roaring back but that has zero to do with Obama and everything to do with all of the non-stop quantitative easing that the Fed has been doing year after year after year.

I know you don't want to embarrass yourself by saying he's straightened out US foreign policy! His Middle East policy is such a mess right now that I'm not sure if it's something that CAN be fixed!

The truth of the matter is that Barry's pigmentation has ZERO to do with how I feel about his job performance. He's a real life "Chauncy Gardiner".

 

[Old Rocks]

No matter how good the numbers are, the 'Conservatives' are going to deny them. After the shipwreck of the two terms of 'W', they simply cannot accept that a moderate liberal Democratic President who also happens to be black has staightened out their mess. It truly messes up their alternative reality.

Wow...talk about an "alternative reality"! I don't know what's more amusing...that you think Barack Obama is a moderate...or that you think that he's straightened anything out.

What, pray tell, has Barry straightened out? The economy? He's overseen the worst recovery from a recession since the Great Depression. The stock market has come roaring back but that has zero to do with Obama and everything to do with all of the non-stop quantitative easing that the Fed has been doing year after year after year.

I know you don't want to embarrass yourself by saying he's straightened out US foreign policy! His Middle East policy is such a mess right now that I'm not sure if it's something that CAN be fixed!

The truth of the matter is that Barry's pigmentation has ZERO to do with how I feel about his job performance. He's a real life "Chauncy Gardiner".

AOL.com Article - What's making US economy a world beater? 5 factors

By PAUL WISEMAN
WASHINGTON (AP) -- How does the U.S. economy do it?
Europe is floundering. China faces slower growth. Japan is struggling to sustain tentative gains.
Yet the U.S. job market is humming, and the pace of economic growth is steadily rising. Five full years after a devastating recession officially ended, the economy is finally showing the vigor that Americans have long awaited.
Last month, employers added 288,000 jobs and helped reduce the unemployment rate to 6.1 percent, the lowest since September 2008. June capped a five-month stretch of 200,000-plus job gains - the first in nearly 15 years.
After having shrunk at a 2.9 percent annual rate from January through March - largely because of a brutal winter - the U.S. economy is expected to grow at a healthy 3 percent pace the rest of the year.
Here are five reasons the United States is outpacing other major economies:

We are doing better than just about everybody else, yet all you people can do is to wail doom.

 

[Mad_Cabbie]

No matter how good the numbers are, the 'Conservatives' are going to deny them. After the shipwreck of the two terms of 'W', they simply cannot accept that a moderate liberal Democratic President who also happens to be black has staightened out their mess. It truly messes up their alternative reality.

Wow...talk about an "alternative reality"! I don't know what's more amusing...that you think Barack Obama is a moderate...or that you think that he's straightened anything out.

What, pray tell, has Barry straightened out? The economy? He's overseen the worst recovery from a recession since the Great Depression. The stock market has come roaring back but that has zero to do with Obama and everything to do with all of the non-stop quantitative easing that the Fed has been doing year after year after year.

I know you don't want to embarrass yourself by saying he's straightened out US foreign policy! His Middle East policy is such a mess right now that I'm not sure if it's something that CAN be fixed!

The truth of the matter is that Barry's pigmentation has ZERO to do with how I feel about his job performance. He's a real life "Chauncy Gardiner".

Stay on point - this thread is about the economy. Quit trying to shift gears.

 

[namvet]

its 288,000 people who lost their unemployment benefits. move along