Unemployment Rises to 6.2%

[Wildman]

Translation: you cannot argue facts or numbers so can only lean on saying everyone has a bias, asking their education, saying they need to see the big picture, etc.

I don't think I've seen one concrete argument come out of your mouth, and to me it indicates you are phony.

You don't get it. Everyone is biased but her and those who agree with her.

LOL. Where did I say I'm not biased? How many times have I said everyone is biased.

Gawd damn you libs have the worst reading comprehension I've ever seen on a political forum. We must get the bottom of the barrel here.

you need to remember they were never educated.., they have been indoctrinated, AND it is even worse today.

 

[ShaklesOfBigGov]

LMAO.. Who's at the switch?
Global warming is to blame.. I mean winter...

-Geaux


WRAPUP 2-U.S. job growth cools, unemployment rate rises to 6.2 percent


* Unemployment rate rises to 6.2 percent from 6.1 percent

* Average hourly earnings up 1 cent, workweek steady

By Lucia Mutikani

WASHINGTON, Aug 1 (Reuters) - U.S. job growth slowed more than expected in July and an unexpected rise in the unemployment rate pointed to some slack in the labor market that could give the Federal Reserve room to keep interest rates low for a while.

Nonfarm payrolls increased 209,000 last month after surging by 298,000 in June, the Labor Department said on Friday.

WRAPUP 2-U.S. job growth cools, unemployment rate rises to 6.2 percent | Reuters

Nonfarm payrolls increased 209,000 last month after surging by 298,000 in June, the Labor Department said on Friday.

Data for May and June were revised to show a total of 15,000 more jobs created than previously reported, showing underlying momentum.

July marked the sixth straight month that employment has expanded by more than 200,000 jobs, a stretch last seen in 1997. The one tenth of a percentage point increase in the unemployment rate to 6.2 percent came as more people entered the labor market, a sign of confidence in the job market.

are you really trying to spin this as bad news?

The truth is in the details.

These upbeat assessments about jobs and the performance of the U.S. economy, regrettably, aren’t backed up by the facts or shared by the American public.

A recent Gallup survey, for instance, shows 56 percent of Americans saying the economy is getting worse while 39 percent said the economy is improving.

Overall, the U.S. population has grown by 17.2 million since mid-2007 while the U.S. economy has 374,000 fewer jobs than in November 2007.

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The Obama administration and much of the media trumpeting the figure overlooked that the government numbers didn't distinguish between new part-time and full-time jobs.

Full-time jobs last month plunged by 523,000, according to the Bureau of Labor Statistics. What has increased are part-time jobs. They soared by about 800,000 to more than 28 million. Just think of all those Americans working part time, no doubt glad to have the work but also contending with lower pay,

Mortimer Zuckerman: The Full-Time Scandal of Part-Time America - WSJ

 

[Wildman]

One thing I've noticed about you is that you use a lot of words to say nothing

Really Acey Doucey. Tell me what this well known formula indicates.

log(1+x) = x+((x^2)/2)+((x^3)/3)+.....((x^n)/n)+.....



How much you wanna bet your clueless buche can't tell me.

"One thing I've noticed about you is that you use a lot of words to say nothing"

log(1+x) = x+((x^2)/2)+((x^3)/3)+.....((x^n)/n)+..... in other words you have no clue either.

when it comes to using a lot of words to say nothing, you are a champion.

 

[EconChick]

since econchick has taken a whipping on the OP, let's move it to the badlands

LMAO, you libs sure take some good hallucinogen drugs.

The only ones taking a whipping are you hacks over there.

Someone starts throwing formulas that have nothing to do with the thread and the babies get mad that I won't play their game.

Look Jakey Fakey, anyone who wanted to play your game could go look it up on the internet. You know, like the other fakes that don't even understand algebra did. What TEST is it? What did it have to do with answering what the market this week is signaling. Absolutely nothing.

You wanna play games, make it relevant to the thread and MAYBE I'll play, maybe not.

But none of you hacks could answer mine.

Imagine that.

 

[Wildman]

Except population growth isn't keeping up with Boomer retirement!!!! And if we cut back on immigration, as the Right wants to do, it will only get worse!

Boomer retirement is a minor factor. The bigger issue is high unemployment among prime working age men and young people (especially black and hispanic young men).

June marks 52 straight months of private sector job growth, the longest ever on record, beating out Bill Clinton's record of 51 continuous months of private sector job growth from February 1996 to April 2000. The economy has added more than 200,000 jobs for five months in a row now,(NOW 6) the longest such streak since 1999. In the first half of this year alone the economy has added 1.4 million jobs, another accomplishment not seen since 1999.



Barack Obama bests Bill Clinton's private sector job creation record ? The People's View

have you gotten down to this post yet ??

In July 2014, there were 92,001,000 Americans, 16 and over, who were classified as “not in the labor force,” meaning they not only did not have a job, but they didn’t actively seek one in the last four weeks.

This number has increased by 11,472,000 since January 2009, when the number of Americans not in the labor force was 80,529,000.

The number of Americans not in the labor force dropped slightly in July, down 119,000 from the 92,120,000 Americans not in the labor force in June.

please reply with some comprehension of what the above quote means...., OK ?

 

[Wildman]

Adding jobs, regardless of the number is always a good thing. Not adding enough jobs to cover the growth in the working population is not a good thing, and is strongly indictative of an economy that is still rocking along the bottom.

Six years after a recession, the economy should be robust and adding jobs at every level, but this one is not doing that. The key question is; why not?

The answer is easy. Keynesian economics is a flawed concept that only works in socialist fantasy. How many times does the world have to learn that lesson?

Erand, this is such a profound post, do you mind if I post it again?

Adding jobs, regardless of the number is always a good thing. Not adding enough jobs to cover the growth in the working population is not a good thing, and is strongly indictative of an economy that is still rocking along the bottom.

Six years after a recession, the economy should be robust and adding jobs at every level, but this one is not doing that. The key question is; why not?

The answer is easy. Keynesian economics is a flawed concept that only works in socialist fantasy. How many times does the world have to learn that lesson?

Weird, so the width and depth of the hole Dubya/GOP dug doesn't matter? OR the FACT that the GOP has done EVERYTHING possible to kick the leg out of a recovery


The only reason the American economy is stalled is because the GOTP kicks the leg from under it, every time the economy begins to recover in the name of cutting the deficit



"We crashed the economy but we don't like the way you tried to fix it." - GOP.

with your kind of logic ? i do seriously pity those 3 you are dad 2

 

[EconChick]

since econchick has taken a whipping on the OP, let's move it to the badlands

Oh, and LOL.

Hey Jakey Fakey, you can't even get THAT right. I'n not the OP.

Get off your drugs bro. They don't work for you.

You might try cracking a few books instead.

 

[EconChick]

Erand, this is such a profound post, do you mind if I post it again?

Adding jobs, regardless of the number is always a good thing. Not adding enough jobs to cover the growth in the working population is not a good thing, and is strongly indictative of an economy that is still rocking along the bottom.

Six years after a recession, the economy should be robust and adding jobs at every level, but this one is not doing that. The key question is; why not?

The answer is easy. Keynesian economics is a flawed concept that only works in socialist fantasy. How many times does the world have to learn that lesson?

Weird, so the width and depth of the hole Dubya/GOP dug doesn't matter? OR the FACT that the GOP has done EVERYTHING possible to kick the leg out of a recovery


The only reason the American economy is stalled is because the GOTP kicks the leg from under it, every time the economy begins to recover in the name of cutting the deficit



"We crashed the economy but we don't like the way you tried to fix it." - GOP.

with your kind of logic ? i do seriously pity those 3 you are dad 2

LOL. SNAP! He is a fruit loop, isn't he? That was funny, W.

 

[EconChick]

One thing I've noticed about you is that you use a lot of words to say nothing

Really Acey Doucey. Tell me what this well known formula indicates.

log(1+x) = x+((x^2)/2)+((x^3)/3)+.....((x^n)/n)+.....



How much you wanna bet your clueless buche can't tell me.

"One thing I've noticed about you is that you use a lot of words to say nothing"

Busted, DaddyO.

Talk about clueless.

 

[pinqy]

pinqy:

If you really were paid to explain them, then you don't need me to tell you how it works, bub

I don't need you to explain so I understand...I need to explain so I can figure out what you don't understand. You seem to think that being in the labor force and dropping out of the labor force are the same thing. They're not, and yet you characterized an increase in the Not in the Labor Force category as being the number of people who have dropped out of the labor force.

The basic MATH is that the number of people who are un and under employed, and who have given up has increased.

In what time period? From before the recession? Then you'd be right.
Since Obama took office? Then you'd be wrong.
Since July 2013? You'd be wrong.

But one more time...there are many many people who are not in the labor force who have never been in the labor force.

 

[Dad2three]

Boomer retirement is a minor factor. The bigger issue is high unemployment among prime working age men and young people (especially black and hispanic young men).

June marks 52 straight months of private sector job growth, the longest ever on record, beating out Bill Clinton's record of 51 continuous months of private sector job growth from February 1996 to April 2000. The economy has added more than 200,000 jobs for five months in a row now,(NOW 6) the longest such streak since 1999. In the first half of this year alone the economy has added 1.4 million jobs, another accomplishment not seen since 1999.



Barack Obama bests Bill Clinton's private sector job creation record ? The People's View

have you gotten down to this post yet ??

In July 2014, there were 92,001,000 Americans, 16 and over, who were classified as “not in the labor force,” meaning they not only did not have a job, but they didn’t actively seek one in the last four weeks.

This number has increased by 11,472,000 since January 2009, when the number of Americans not in the labor force was 80,529,000.

The number of Americans not in the labor force dropped slightly in July, down 119,000 from the 92,120,000 Americans not in the labor force in June.

please reply with some comprehension of what the above quote means...., OK ?

SURE, DUBYA/GOP DUG A REALLY DEEP HOLE. Since Obama hit the Bush bottom March 2010 more than 10+ million PRIVATE sector jobs have been created. Bush lost 1.2+ million in his 8 years (not counting the 4+ million lost in 2009)

 

[Dad2three]

Erand, this is such a profound post, do you mind if I post it again?

Adding jobs, regardless of the number is always a good thing. Not adding enough jobs to cover the growth in the working population is not a good thing, and is strongly indictative of an economy that is still rocking along the bottom.

Six years after a recession, the economy should be robust and adding jobs at every level, but this one is not doing that. The key question is; why not?

The answer is easy. Keynesian economics is a flawed concept that only works in socialist fantasy. How many times does the world have to learn that lesson?

Weird, so the width and depth of the hole Dubya/GOP dug doesn't matter? OR the FACT that the GOP has done EVERYTHING possible to kick the leg out of a recovery


The only reason the American economy is stalled is because the GOTP kicks the leg from under it, every time the economy begins to recover in the name of cutting the deficit



"We crashed the economy but we don't like the way you tried to fix it." - GOP.

with your kind of logic ? i do seriously pity those 3 you are dad 2

PLEASE tell me what's incorrect with the LOGIC used? Pretty please?

YOU like FauxChickie show a stunning level of stupidity


DEC 2007


The Economic Consequences of Mr. Bush

The next president will have to deal with yet another crippling legacy of George W. Bush: the economy. A Nobel laureate, Joseph E. Stiglitz, sees a generation-long struggle to recoup.

The Economic Consequences of Mr. Bush | Vanity Fair

 

[boedicca]

pinqy:

If you really were paid to explain them, then you don't need me to tell you how it works, bub

I don't need you to explain so I understand...I need to explain so I can figure out what you don't understand. You seem to think that being in the labor force and dropping out of the labor force are the same thing. They're not, and yet you characterized an increase in the Not in the Labor Force category as being the number of people who have dropped out of the labor force.

The basic MATH is that the number of people who are un and under employed, and who have given up has increased.

In what time period? From before the recession? Then you'd be right.
Since Obama took office? Then you'd be wrong.
Since July 2013? You'd be wrong.

But one more time...there are many many people who are not in the labor force who have never been in the labor force.

So sorry about your lack of math skillz.

I've posted the math already for the past year, but here's a little test:

(Not In The Labor Force + Unemployed) - Which number is bigger?

July 2013 - (90,062K + 11,408K) = 101,470K
July 2014 - (92,001K + 9,671K) = 101,672K

Labor Force Participation Rate - Which number is bigger?

July 2013 - 63.4%
July 2014 - 62.9%

We aren't making progress on reducing the number of un/under employed and discouraged workers. All Obamanomics is doing is barely treading water, creating a lot of low wage part time jobs.

Hopenchange!

 

[Dad2three]

pinqy:

If you really were paid to explain them, then you don't need me to tell you how it works, bub

I don't need you to explain so I understand...I need to explain so I can figure out what you don't understand. You seem to think that being in the labor force and dropping out of the labor force are the same thing. They're not, and yet you characterized an increase in the Not in the Labor Force category as being the number of people who have dropped out of the labor force.

The basic MATH is that the number of people who are un and under employed, and who have given up has increased.

In what time period? From before the recession? Then you'd be right.
Since Obama took office? Then you'd be wrong.
Since July 2013? You'd be wrong.

But one more time...there are many many people who are not in the labor force who have never been in the labor force.

So sorry about your lack of math skillz.

I've posted the math already for the past year, but here's a little test:

(Not In The Labor Force + Unemployed) - Which number is bigger?

July 2013 - (90,062K + 11,408K) = 101,470K
July 2014 - (92,001K + 9,671K) = 101,672K

Labor Force Participation Rate - Which number is bigger?

July 2013 - 63.4%
July 2014 - 62.9%

We aren't making progress on reducing the number of un/under employed and discouraged workers. All Obamanomics is doing is barely treading water, creating a lot of low wage part time jobs.

Hopenchange!

"since 2000, the labor force rate has been steadily declining as the baby-boom generation has been retiring. Because of this, the Federal Reserve Bank of Chicago expects the labor force participation rate to be lower in 2020 than it is today, regardless of how well the economy does.

In a March report titled "Dispelling an Urban Legend," Dean Maki, an economist at Barclays Capital, found that demographics accounted for a majority of the drop in the participation rate since 2002."


The incredible shrinking labor force - The Washington Post


yes, when the GOP dig a hole to plant the economy in, they dig it deep and wide, then refuse to get out and kelp get out of the hole!


BUSH: -1.2+ MILLION PRIVATE SECTOR JOBS IN 8 YEARS

OBAMA 10+ MILLION SINCE HITTING BUSH'S BOTTOM MARCH 2010

 

[boedicca]

To those who think the drop in the LFP rate is all due to boomer retirement: you are wrong.

Only a portion of the drop is due to aging demographics and retirement. A large portion is also due to lower LFPR among much younger cohorts.

Record Low Labor Participation Rate Not Due to Retirement or School | The Economic Populist

 

[Siete]

Which number is bigger?


the 9+ million baby boomers that have retired in the last 6 years ?

 

[boedicca]

Which number is bigger?


the 9+ million baby boomers that have retired in the last 6 years ?

Link to a credible source for that figure?

And how many people Entered the labor force?

 

[boedicca]

It's not due to Boomer Retirement:

...the U.S. has had over 3 million high school graduates every year during the Obama administration --- those who would be potentially entering the work force for the very first time, even if they go on to also enroll in college.

So on average, theoretically, the U.S. would need to have 3 million retirees and disabled people every year going on the Social Security "dole" to necessarily break even on the labor force participation rate. But that hasn't been happening.

According to data from the Social Security Administration, as of January 2009 when Obama first took office, the U.S. had a total of 39,927,185 retired and disabled workers receiving a monthly Social Security benefit --- 32,484,808 retired and 7,442,377 disabled.

Almost 5 years later, as of November 2013, the U.S. had a total of 46,775,537 retired and disabled workers --- 37,833,877 retired and 8,941,660 disabled --- for a net gain of 6,848,352 retired and disabled workers (5,349,069 that retired and 1,499,283 who were awarded on a disability claim).

* It's also worth noting that, while disability "claims" were up in the aftermath of the Great Recession, a Congressional Budget Office study says claims are always up during recessions. But actual disability "awards" are down. Source: SSA (See the full post with data here)

Social Security disability awards

As for the high school graduating classes of 2008 through 2013, the U.S. has had an estimated 15,403,905 high school graduates --- a difference of 8,555,553 who might otherwise be in the labor force when compared to the additional 6,848,352 retired and disabled workers during that same period of time.

The Bureau of Labor Statistics reports that only 48.8 percent of the 3.2 million youth who graduated from high school (just from last year alone) were "in the labor force". In a 14-page report by Rutgers, they noted a whopping 44% of high school students were unemployed ----- meaning:

Since Obama's first year in office, the U.S. has had more "non-starters" than "quitters" in the labor force.

Last year, in a study by the Kansas City Fed (that the Wall Street Journal had cited) they reported:

"An analysis of labor market data suggests that there are no structural changes that can explain movements in unemployment rates over recent years. Neither industrial nor demographic shifts nor a mismatch of skills with job vacancies is behind the increased rates of unemployment."...

Falsely Blaming Baby Boomers for Smaller Labor Force | Bud Meyers

 

[Siete]

Which number is bigger?


the 9+ million baby boomers that have retired in the last 6 years ?

Link to a credible source for that figure?

And how many people Entered the labor force?

link is provided in this thread .. do keep up.


•The size of the 55-and-over population has increased by 15.619 million relative to that of the prime working age population since 2007
•15.619 million multiplied by the difference between the two participation rates (82.0% - 40.1%) implies that this simple demographic shift alone has left only 6.544 million workers at the end of 2013 where there were 15.619 million at the end of 2007
•Subtract that 6.544 million still in the labor force from the 15.619 million who made the shift from the first bucket to the second bucket and you get 9.075 million people 55 years of age or over who have left the labor force over the past six years


Read more: http://www.businessinsider.com/baby-boomers-are-retiring-2014-2#ixzz39FuFLENg

 

[Dad2three]

Which number is bigger?


the 9+ million baby boomers that have retired in the last 6 years ?

Link to a credible source for that figure?

And how many people Entered the labor force?

According to data from the Social Security Administration, as of January 2009 when Obama first took office, the U.S. had a total of 39,927,185 retired and disabled workers receiving a monthly Social Security benefit --- 32,484,808 retired and 7,442,377 disabled.

Almost 5 years later, as of November 2013, the U.S. had a total of 46,775,537 retired and disabled workers --- 37,833,877 retired and 8,941,660 disabled --- for a net gain of 6,848,352 retired and disabled workers (5,349,069 that retired and 1,499,283 who were awarded on a disability claim).

Wall Street Journal Blames Boomers for Declining Labor Force


THEIR SOURCE

Benefits in current payment status