Unemployment Rises to 6.2%

[Geaux4it]

Middle class jobs are finally coming back - Aug. 1, 2014

Middle class employment is on the upswing, thanks to the strengthening economy.

These are jobs that pay about $770 a week: Think manufacturing, sales, transportation and construction.

This employment category has been expanding since 2013, according to Robert Mellman, senior U.S. economist at JPMorgan Chase.

And the trend should continue. "The mix of jobs is improving," said Ryan Sweet, director at Moody's Analytics, which found that growth in mid-wage jobs has accelerated to an average of 1.5% in 2014, from 1% for the two years prior. "As the economy begins to grow consistently above its potential, we will see more middle class jobs being created."

How can that be when the middle class demographic of 24-54 lost 142K jobs?

-Geaux




Old Workers Hit New Record High As Jobs For Key 25-54 Age Group Slide By 142K

Another month, another case where the primary age group of the US work force, those aged 25-54, gets shafted.

According to the BLS' household survey, while overall July jobs rose, if modestly less than the 209K revealed by the establishment survey, there was no joy for those aged 25-54: historically the most important and highest earning age group (in case anyone is wondering where all that missing average hourly earnings growth is) within the US labor force. As the chart below shows, while all other age groups posted a jobs uptick, it was those 25-54 that saw a 142K jobs decline in the past month.

http://www.zerohedge.com/news/2014-...cord-high-jobs-key-25-54-age-group-slide-142k

age has nothing to do with class.

directly no.. But I would wager the majority of the middle class demographic from an age perspective, fall within the age of 25-54.

-Geaux

 

[KissMy]

Middle class jobs are finally coming back - Aug. 1, 2014

Middle class employment is on the upswing, thanks to the strengthening economy.

These are jobs that pay about $770 a week: Think manufacturing, sales, transportation and construction.

This employment category has been expanding since 2013, according to Robert Mellman, senior U.S. economist at JPMorgan Chase.

And the trend should continue. "The mix of jobs is improving," said Ryan Sweet, director at Moody's Analytics, which found that growth in mid-wage jobs has accelerated to an average of 1.5% in 2014, from 1% for the two years prior. "As the economy begins to grow consistently above its potential, we will see more middle class jobs being created."

How can that be when the middle class demographic of 24-54 lost 142K jobs?

-Geaux




Old Workers Hit New Record High As Jobs For Key 25-54 Age Group Slide By 142K

Another month, another case where the primary age group of the US work force, those aged 25-54, gets shafted.

According to the BLS' household survey, while overall July jobs rose, if modestly less than the 209K revealed by the establishment survey, there was no joy for those aged 25-54: historically the most important and highest earning age group (in case anyone is wondering where all that missing average hourly earnings growth is) within the US labor force. As the chart below shows, while all other age groups posted a jobs uptick, it was those 25-54 that saw a 142K jobs decline in the past month.

Old Workers Hit New Record High As Jobs For Key 25-54 Age Group Slide By 142K | Zero Hedge

Those workers age 25-54 are the ones leaving to start their own business.

 

[Avorysuds]

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?

That's all they can do while the niggrah's in office. Then, when the Hillebeast takes over, it'll be more of the same.

"Women aren't smart enough to run a country keep them in the kitchen!"

I like how democrats went from daily protests in every city in America over the Iraq/Afghanistan war to disappearing and never coming back despite Obama expanding both Afghanistan and Iraq.. as well as getting us involved in Egypt, Syria, Pakistan, Libya and now Russia. More military war and spending is ok as long as it's Dems! Oh, we're back in Iraq btw, still no protests!

So both parties are mentally retarded, hypocritical and full of shit.

 

[edthecynic]

That's all they can do while the niggrah's in office. Then, when the Hillebeast takes over, it'll be more of the same.

"Women aren't smart enough to run a country keep them in the kitchen!"

And the far left continues to prove that they are the true racists.

Then again the way unemployment is counted now was changed by the far left Congress in 1993 under Clinton.

So all those good numbers for Bush jr. was a lie?

That's right! Bush left office with 92 million Americans not working.

 

[pinqy]

Middle class jobs are finally coming back - Aug. 1, 2014

Middle class employment is on the upswing, thanks to the strengthening economy.

These are jobs that pay about $770 a week: Think manufacturing, sales, transportation and construction.

This employment category has been expanding since 2013, according to Robert Mellman, senior U.S. economist at JPMorgan Chase.

And the trend should continue. "The mix of jobs is improving," said Ryan Sweet, director at Moody's Analytics, which found that growth in mid-wage jobs has accelerated to an average of 1.5% in 2014, from 1% for the two years prior. "As the economy begins to grow consistently above its potential, we will see more middle class jobs being created."

How can that be when the middle class demographic of 24-54 lost 142K jobs?

-Geaux




Old Workers Hit New Record High As Jobs For Key 25-54 Age Group Slide By 142K

Another month, another case where the primary age group of the US work force, those aged 25-54, gets shafted.

According to the BLS' household survey, while overall July jobs rose, if modestly less than the 209K revealed by the establishment survey, there was no joy for those aged 25-54: historically the most important and highest earning age group (in case anyone is wondering where all that missing average hourly earnings growth is) within the US labor force. As the chart below shows, while all other age groups posted a jobs uptick, it was those 25-54 that saw a 142K jobs decline in the past month.

Old Workers Hit New Record High As Jobs For Key 25-54 Age Group Slide By 142K | Zero Hedge

Those workers age 25-54 are the ones leaving to start their own business.

No, because they would still show up as employed in the Current Population Survey.

 

[ogibillm]

are you really trying to spin this as bad news?

That's all they can do while the niggrah's in office. Then, when the Hillebeast takes over, it'll be more of the same.

"Women aren't smart enough to run a country keep them in the kitchen!"

I like how democrats went from daily protests in every city in America over the Iraq/Afghanistan war to disappearing and never coming back despite Obama expanding both Afghanistan and Iraq.. as well as getting us involved in Egypt, Syria, Pakistan, Libya and now Russia. More military war and spending is ok as long as it's Dems! Oh, we're back in Iraq btw, still no protests!

So both parties are mentally retarded, hypocritical and full of shit.

weird - we have troops engaged in combat in egypt, syria, pakistan, and libya?

 

[edthecynic]

Did Obuma ever see unemployment under 5.5%?

Neither did Bush, his "REAL" unemployment was about 25% with 92 million Americans not working.

 

[Avorysuds]

That's all they can do while the niggrah's in office. Then, when the Hillebeast takes over, it'll be more of the same.

"Women aren't smart enough to run a country keep them in the kitchen!"

And the far left continues to prove that they are the true racists.

Then again the way unemployment is counted now was changed by the far left Congress in 1993 under Clinton.

So all those good numbers for Bush jr. was a lie?

Yes and no. The issue is that we don't count people as UE when they drop off, that became an issue when more people dropped out of the work force than were able to get work in the work force over a sustained period of time, years in this case....

I know it's really easy to understand but come on, you can do it!

Like you didn't like bail outs, spying on Americans and wars under Bush but magically became ok with it all under Obama. If you base your opinions on nothing but partisan hackery, you will stay an unevolved nutter.

Under Bush more people were working and UE was low, under Obama less people are working and UE keeps going lower... Wonder why? Well your in luck! it's been explained many times =D

 

[edthecynic]

Did Bush ever see six straight months of 200,000+ jobs?

Obama has added more jobs in the last six months than Bush did in eight years

Why would you bring up Bush when the labor market under Bush was 10 times better than under Obama? You won't hear any democrat initiate a comparison.

No it wasn't! Bush's "REAL" unemployment was around 25% with 92 million Americans not working when he left. The only difference is the Right were saying Bush's 92 million not working was 10 times better than Obama's 92 million not working.

 

[edthecynic]

I'm not an O supporter and show me anytime a comparison came up between the CES and CPS numbers in the Bush years.

Exactly, Bush left with 92 million Americans not working and all we hear is how great the economy was under the Bush Regime!!!

 

[Avorysuds]

The civilian population increased by 209K, and jobs increased by 209K....a sign of an anemic economy which can barely create enough jobs to keep up with population growth.

you're right. our babies need jobs!

Wow, that was a dumb comment.

 

[Claudette]

Actual unemployment is in double digits. Loads of folks aren't even looking or are part time.

Real Unemployment Rate Is at Least 18 Percent

 

[Avorysuds]

And we have a 59% employment to population ratio, the same as the prior month - which is incredibly low.

It seemed to be fine in the 1950's, 1960's and early '70's when it was lower.

Ahh, how liberals love removing females from the workforce... Jobs were better then, so 1 person working could support a family. These days 2 people working are still poor.

 

[Avorysuds]

well... nobody. job growth. people re-entering the labor market.

who loses?

and yet you want to blame someone, and find it 'funny.'

seems like you thought this was bad news for someone

U.S. job growth slowed more than expected

-Geaux

53 consecutive months of job growth in the private sector.

Unprecedented in the U.S.

Thank you, Obama.

Hmm, the Fed'r injected near 5 trillion dollars during that time to stimulate the economy, Obama did 877 billion and ran massive deficits rather than cut... Also unprecedented. Wonder what happens when the Fed's stop spending a trillion dollars a year to float the economy.... You don't, hell you don't care as long as for the moment it makes Obama look "meh" levels of decent. Let the next President deal with the massive crash.

 

[boedicca]

The civilian population increased by 209K, and jobs increased by 209K....a sign of an anemic economy which can barely create enough jobs to keep up with population growth.

you're right. our babies need jobs!

Wow, that was a dumb comment.

Yes, it is a dumb comment. The Civilian Population stat at the BLS is 248M - it excludes children, as anyone who ever bothers to read the reports would know.

 

[KissMy]

How can that be when the middle class demographic of 24-54 lost 142K jobs?

Old Workers Hit New Record High As Jobs For Key 25-54 Age Group Slide By 142K

Another month, another case where the primary age group of the US work force, those aged 25-54, gets shafted.

According to the BLS' household survey, while overall July jobs rose, if modestly less than the 209K revealed by the establishment survey, there was no joy for those aged 25-54: historically the most important and highest earning age group (in case anyone is wondering where all that missing average hourly earnings growth is) within the US labor force. As the chart below shows, while all other age groups posted a jobs uptick, it was those 25-54 that saw a 142K jobs decline in the past month.

Old Workers Hit New Record High As Jobs For Key 25-54 Age Group Slide By 142K | Zero Hedge

Those workers age 25-54 are the ones leaving to start their own business.

No, because they would still show up as employed in the Current Population Survey.

Most start-ups don't make money right away & many never turn a profit. So of course they would still draw an unemployment check for as long as they need.

They may have also went back to school.

 

[pinqy]

Yes and no. The issue is that we don't count people as UE when they drop off, that became an issue when more people dropped out of the work force than were able to get work in the work force over a sustained period of time, years in this case....

Not sure what you mean by "drop off." The definitions are straightforward and clear: If you are not working, but are actively looking for work (or on temporary layoff) and could take a job if offered, then you are unemployed. If someone decides to longer look for work, for whatever reason, then they're no longer unemployed. What exactly are you trying to measure that you would want to measure the labor market by including those not participating in it?

Under Bush more people were working and UE was low, under Obama less people are working and UE keeps going lower... Wonder why? Well your in luck! it's been explained many times =D

November and December 2007 were the only times under Bush where there were more people employed than July 2014.

 

[JakeStarkey]

Yep.

Even the better GDP number in 2nd quarter must be looked at in perspective of the whole of the first six months, anemic at best and not what we'd look for as a solid recovery.

Housing recover, which is a huge driver or both employment and consumer expenditures, has also seemed to have run out of steam.

All you have to do is ask middle America. They'll set your delusions straight about your manipulation of economic data.

So by all means.....keep twisting those numbers till November. It's going to be so fun watching when the public tells you what THEY think of your numbers.

I'm not even sure what you're responding to here.

I'm looking at my post which was critical of GDP growth, critical of the housing recovery, and agreeing with the notion that the economy is not robust... and you are saying they are delusions and I'm am twisting numbers. Did I even post numbers to be considered twisted?

By saying I'm delusional I assume you are disagreeing and claiming GDP growth was strong, the economy was robust, and housing market is strong? I disagree, total GDP over first six months was only 1% that is weak especially for what some are calling an accelerating recover.

"anemic" is a truly inaccurate description of the economy, and is obviously a word loaded by a hack and shot at the administration for rank political purposes.

The stock market may adjust by 10% over the next month or so, but no more after the incredible growth in 2013.

As long as stocks continuing averaging about 6% annually in relationship to 2% for bonds, our economy is no danger.

 

[pinqy]

Those workers age 25-54 are the ones leaving to start their own business.

No, because they would still show up as employed in the Current Population Survey.

Most start-ups don't make money right away & many never turn a profit. So of course they would still draw an unemployment check for as long as they need.

The Unemployment rate isn't based on UI benefits. If a person owns his/her own business, s/he is classified as employed, regardless of profit. The Current Population Survey doesn't even ask about unemployment benefits, which have never been used to classify a person's labor force status.

 

[Avorysuds]

Yes and no. The issue is that we don't count people as UE when they drop off, that became an issue when more people dropped out of the work force than were able to get work in the work force over a sustained period of time, years in this case....

Not sure what you mean by "drop off." The definitions are straightforward and clear: If you are not working, but are actively looking for work (or on temporary layoff) and could take a job if offered, then you are unemployed. If someone decides to longer look for work, for whatever reason, then they're no longer unemployed. What exactly are you trying to measure that you would want to measure the labor market by including those not participating in it?

Under Bush more people were working and UE was low, under Obama less people are working and UE keeps going lower... Wonder why? Well your in luck! it's been explained many times =D

November and December 2007 were the only times under Bush where there were more people employed than July 2014.

What I mean is that people go so long without finding work that they give up... This is not a new concept to bring to the debate. Massive amounts of people "give up" and thus they are counted as "employed" because the unemployment number drops....... do to not measuring it in any way that reflects reality.

So if 10 people are on UE, and 9 months later 10 people are still UE but 3 stop looking for work, the UE rate dropped by 30%... Yet 10 people are still not working.

You are also only allowed to draw UE for so long, once that time is up, yer done... and get counted as "employed." No, your not really counted as employed, but they stop counting you as UE, thus making the UE number drop while not actually having a more employed population. This is why the Work force participation rate has become such a big deal, it was not like this under Bush, it is truly unique to this time person that Obama happens to be president. Obama did not make it this way, but to say UE is 6.2% is 100% un true.

Bush also had a smaller population of 10 million+ So less people working as % of population.