246,000 New Jobs Drop Rate to 7.7%

[Warrior102]

Im of irish desent

That would explain the alcohol problem

 

[boedicca]

Kudos to you....

Sure -

Record 89,304,000 Americans 'Not in Labor Force' -- 296,000 Fewer Employed Since January | CNS News

Further proof the Misinformation Voter can't do simple arithmetic.

Table A-1. Employment status of the civilian population by sex and age
January employed 143,322,000
February employed 143,492,000

What a moron. 296,000 dropped out of the labor force. The participation rate dropped to 63.5% (it was 63.9% a year ago). The number of people who have Dropped Out over the past year is 1.8M, while only 1.5M have found jobs over the same period. The Civilian Non-Institutional Population increased by 2.4M. The economy is not creating enough jobs to keep up with population growth, hence more people are dropping out OUT OF DESPAIR. You really think that is GOOD NEWS?

 

[pinqy]

Sure -

Record 89,304,000 Americans 'Not in Labor Force' -- 296,000 Fewer Employed Since January | CNS News

Further proof the Misinformation Voter can't do simple arithmetic.

Table A-1. Employment status of the civilian population by sex and age
January employed 143,322,000
February employed 143,492,000

What a moron. 296,000 dropped out of the labor force.

No, the labor force decreased by 130,000. Not in the Labor Force increased by 296,000. The population increased by 165,000.

The economy is not creating enough jobs to keep up with population growth, hence more people are dropping out OUT OF DESPAIR.

Reasons people leave the Labor Force and the Population: Death, joining the military, leaving the country, going to prison, becoming institutionalized.

Reasons people leave the Labor Force and stay in the population (becoming not in the labor force): Retirement, Injury, Illness, Pregnancy, School, Care of family member, winning the lottery, no longer want a job, don't have transportation to any job, discourgement due to belief that there are no jobs or that they won't be hired because they don't have the right skills/training/education or are the wrong age/race/sex.

Discouraged workers have gone DOWN 21,000 since last year.

 

[Rozman]

The last I heard the market was up a little over 50 points.
You call that an explosion.
The left is desperate for any sort of good news in this shitty Obama economy they open the windows and start screaming about anything.

Can we get UE down to 7% for at least 3 consecutive months before we celebrate.

 

[rightwinger]

The last I heard the market was up a little over 50 points.
You call that an explosion.
The left is desperate for any sort of good news in this shitty Obama economy they open the windows and start screaming about anything.

Can we get UE down to 7% for at least 3 consecutive months before we celebrate.

Market is in record territory
Unemployment has dropped 2.5% since the end of the recession
Leading economic indicators are all up

Not bad for a socialist president is it?

 

[Wry Catcher]

The anger on the right is a sign that even the parrots are scared the economy is in recovery despite the efforts of McConnell, Boehner, Limbaugh and the rest of the right wing media to prevent a return to happier days. Continuing their efforts to convince consumers that the sky will soon fall & that the Great Recession of 2007-2009 was a product of Obama's policies, the fear that they will be stricken with cognitive dissonance is nearly palpable - at least in the few, the loud and the not brain dead echo chamber. Those echo chamber members brain addled remain convinced that Limbaugh is correct and have lined their tin foil hats with a hard liner.

 

[boedicca]

U-6 has never been the "REAL" unemployment rate. Answer this, how can the U-6 be the real unemployment rate when it includes people who are EMPLOYED?????? That's right, EMPLOYED workers are counted in the U-6 rate. U-6 is a measure of underutilization or underemployment. U-3 has always been the standard for unemployment for every Republican president, U-6 only became the "REAL" unemployment for Obama.

Riddle me this: Is someone who used to earn $100,000 a year as a marketing director fully employed if he takes a job at Starbucks making $8 an hour just to survive?

Nope, but that's not what the Unemployment rate is trying to measure and he would be classified as Employed and would not be part of the U6 numerator (unless he was working part time, which you didn't say). Underemployment as far as working less than education, skills, previous salary is not measured. Too subjective.

Example of why it can't be done:
Your $100,000 marketing director was convicted of fraud and embezzlement and served 18 months in prison. The best job he can get as a convicted felon is at Starbucks making $8/hour. Is he underemployed? And if so, is it because the labor market is bad?

Example 2: A person with a Bachelor of Fine Arts in Musical Theater gets a job waiting tables in New York also waiting for that big break. Underemployed or about normal?

Uh. Moron. There are multiple measure of the unemployment rate. U3 is one of them. U6 is another. If you were so Low Information, you'd understand that.

Read and at least attempt to learn:

Table A-15. Alternative measures of labor underutilization

 

[boedicca]

Further proof the Misinformation Voter can't do simple arithmetic.

Table A-1. Employment status of the civilian population by sex and age
January employed 143,322,000
February employed 143,492,000

What a moron. 296,000 dropped out of the labor force.

No, the labor force decreased by 130,000. Not in the Labor Force increased by 296,000. The population increased by 165,000.

The economy is not creating enough jobs to keep up with population growth, hence more people are dropping out OUT OF DESPAIR.

Reasons people leave the Labor Force and the Population: Death, joining the military, leaving the country, going to prison, becoming institutionalized.

Reasons people leave the Labor Force and stay in the population (becoming not in the labor force): Retirement, Injury, Illness, Pregnancy, School, Care of family member, winning the lottery, no longer want a job, don't have transportation to any job, discourgement due to belief that there are no jobs or that they won't be hired because they don't have the right skills/training/education or are the wrong age/race/sex.

Discouraged workers have gone DOWN 21,000 since last year.

It's impossible to discuss anything with you.

You don't understand the difference between Civilian Population, the Labor Force, and Not In The Labor Force.

Look it up.

 

[pinqy]

Riddle me this: Is someone who used to earn $100,000 a year as a marketing director fully employed if he takes a job at Starbucks making $8 an hour just to survive?

Nope, but that's not what the Unemployment rate is trying to measure and he would be classified as Employed and would not be part of the U6 numerator (unless he was working part time, which you didn't say). Underemployment as far as working less than education, skills, previous salary is not measured. Too subjective.

Example of why it can't be done:
Your $100,000 marketing director was convicted of fraud and embezzlement and served 18 months in prison. The best job he can get as a convicted felon is at Starbucks making $8/hour. Is he underemployed? And if so, is it because the labor market is bad?

Example 2: A person with a Bachelor of Fine Arts in Musical Theater gets a job waiting tables in New York also waiting for that big break. Underemployed or about normal?

Uh. Moron. There are multiple measure of the unemployment rate. U3 is one of them. U6 is another. If you were so Low Information, you'd understand that.

Read and at least attempt to learn:

Table A-15. Alternative measures of labor underutilization

The numerator of the U6 is Unemployed + All Marginally Attached + Part Time for Economic Reasons
The denomniator is Labor Force + All Marginally Attached.

Where are you saying the overqualified person would fit in? He's not Unemployed, he's not Marginally attached, and you didn't say he was part time for economic reasons. His salary, education, and position are irrelvant.

 

[SteadyMercury]

What the hell kind of jobs would be created in February? Snow shoveling?

Actually construction was one of the stronger sectors of growth, but I don't really get your point are you claiming it is false because your imagination can't conjure up jobs that can be done in February? What percentage of jobs do you think are outdoors?

Yeah... it is ONLY retirees.. NOTHING to do AT ALL with the people coming off the unemployment books when they give up looking for work

You are responding to something that poster didn't say.

They are correctt in that being on the upward slope of the demographic bulge created by retiring baby boomers certainly does have an impact on the size of the workforce. One would be naive to look at our aging population and the fact the labor force participation rate has been going down for quite some time, and completely disregard the impact of age demographics on it.

That doesn't mean all of them are retirees and I don't think anyone said that.

 

[SteadyMercury]

Personally, I am happy. There are 236,000 new burger flippers and janitors.

You clearly have a predetermined outlook on any economic news and make assumptions to mold your view to fit it. Go look up the breakdown of jobs created, then stop looking like such a ass.

Bottom line this was a solid jobs report, nothing spectacular indicating a massive acceleration on the employment front or economic breakout but solid.

 

[Rozman]

When Bush was president someone working at Burger King was a burger flipper.
Now with Obama president that worker is part of a booming economy.

 

[Mad Scientist]

Glorious Leader Obama healing US Economy by himself!

World is next.

 

[Warrior102]

When Bush was president someone working at Burger King was a burger flipper.
Now with Obama president that worker is part of a booming economy.

And the recession is over they'll tell ya. 85,000,000 unemployed - and the recession's over...

 

[boedicca]

Nope, but that's not what the Unemployment rate is trying to measure and he would be classified as Employed and would not be part of the U6 numerator (unless he was working part time, which you didn't say). Underemployment as far as working less than education, skills, previous salary is not measured. Too subjective.

Example of why it can't be done:
Your $100,000 marketing director was convicted of fraud and embezzlement and served 18 months in prison. The best job he can get as a convicted felon is at Starbucks making $8/hour. Is he underemployed? And if so, is it because the labor market is bad?

Example 2: A person with a Bachelor of Fine Arts in Musical Theater gets a job waiting tables in New York also waiting for that big break. Underemployed or about normal?

Uh. Moron. There are multiple measure of the unemployment rate. U3 is one of them. U6 is another. If you were so Low Information, you'd understand that.

Read and at least attempt to learn:

Table A-15. Alternative measures of labor underutilization

The numerator of the U6 is Unemployed + All Marginally Attached + Part Time for Economic Reasons
The denomniator is Labor Force + All Marginally Attached.

Where are you saying the overqualified person would fit in? He's not Unemployed, he's not Marginally attached, and you didn't say he was part time for economic reasons. His salary, education, and position are irrelvant.

How compassionate. An Overqualified Person is irrelvant (sic).

Such a person would be either Marginally Attached or Part Time for Economic Reasons.

Underemployment is a very stressful and depressing situation for those who endure it. And yet for you, such unfortunates are irrelvant (sic).

 

[pinqy]

What a moron. 296,000 dropped out of the labor force.

No, the labor force decreased by 130,000. Not in the Labor Force increased by 296,000. The population increased by 165,000.

The economy is not creating enough jobs to keep up with population growth, hence more people are dropping out OUT OF DESPAIR.

Reasons people leave the Labor Force and the Population: Death, joining the military, leaving the country, going to prison, becoming institutionalized.

Reasons people leave the Labor Force and stay in the population (becoming not in the labor force): Retirement, Injury, Illness, Pregnancy, School, Care of family member, winning the lottery, no longer want a job, don't have transportation to any job, discourgement due to belief that there are no jobs or that they won't be hired because they don't have the right skills/training/education or are the wrong age/race/sex.

Discouraged workers have gone DOWN 21,000 since last year.

It's impossible to discuss anything with you.

You don't understand the difference between Civilian Population, the Labor Force, and Not In The Labor Force.

Look it up.

I don't have to look it up, I know it from memory after over a decade working with these numbers professionally.
Population: everyone age 16 and older not in the military, in prison, or in an institution.
Labor Force: Employed (worked during reference week) plus unemployed (did not work but available and actively looked for work on previous 4 weeks.
Not in the Labor Force: everyone else in the population.

What are you claiming I have wrong?

 

[boedicca]

If Not In The Labor Force has increased more than Employed - is that a Good or a Bad Thing for the Economy?

If The Labor Force Participation rate declines from 63.9% to 63.5% over a year, is that a Good or Bad Thing for the Economy?

 

[edthecynic]

Sure -

Record 89,304,000 Americans 'Not in Labor Force' -- 296,000 Fewer Employed Since January | CNS News

Further proof the Misinformation Voter can't do simple arithmetic.

Table A-1. Employment status of the civilian population by sex and age
January employed 143,322,000
February employed 143,492,000

What a moron. 296,000 dropped out of the labor force. The participation rate dropped to 63.5% (it was 63.9% a year ago). The number of people who have Dropped Out over the past year is 1.8M, while only 1.5M have found jobs over the same period. The Civilian Non-Institutional Population increased by 2.4M. The economy is not creating enough jobs to keep up with population growth, hence more people are dropping out OUT OF DESPAIR. You really think that is GOOD NEWS?

The headline says "FEWER EMPLOYED" not dropped out of labor force, learn to read. But even dropped out of labor force defies your arithmetic.

Labor force January = 155,654,000
Labor force February = 155,524,000
loss of 130,000

Labor force February 2012 = 154,825,000
Labor force February 2013 = 155,524,000
gain of 699,000

 

[edthecynic]

If Not In The Labor Force has increased more than Employed - is that a Good or a Bad Thing for the Economy?

If The Labor Force Participation rate declines from 63.9% to 63.5% over a year, is that a Good or Bad Thing for the Economy?

Both are completely meaningless as far as the economy is concerned, which is why they are the only things that have meaning to the Misinformation Voter. All they indicate is a changing demographic.

For example the not in labor force could increase because the economy is so robust that families no longer need more than one income, so a spouse decides to stay home and care for their children or sick and elderly family members, for example.

 

[GHook93]

You've been blaming Obama for the unemployment rate. Don't pretend Bush never existed and change your tune when it comes to him.

Bush blew it. Everyone knows it.

The mortgages that blew up had three year fuses. They were lit on Bush and the GOP Congress's watch.

Christ, some of you act like Bush was just occupying a chair and not responsible for anything.

A three year fuzz? Get a clue the snowball down the hill started under Clinton:
(1) Main Culprit: Community Reinvestment Act - Like communism it's good on paper, horrendous in practice. This law forced banks to lend a certain percentage to lower income individuals and minorities or loss tax benefits, face fines and other punitive measures. Banks were forced to give away money to people less likely to be able to pay it back. The lenders are too blame also, but fly by night subprime lenders sprung up like Fremont, New Century, Long Beach and of course Ameriquest. They tosses out the matrix and expanded the stated income/no doc program (intended only for the self-employed who had trouble showing their income) to W2 borrowers. Lenders had to toss out the matrix to compete and stay in compliance with the CRA. This easy money policy artificially SKYROCKETED home values at rates never seen in history. The CRA is the MAIN CAUSE!

(2) Secondary Culprit: Fannie Mae and Freddie Mac powers extended! FM and FM were started in the 30s, but under Clinton their powers were expanded to create an artificial secondary mortgage market. This allowed fly-by-night lenders to write toxic loans, make a killing up front and sell then nearly instanteously for another killing. The original lender didn't care, because they made a huge profit, but took none of the risk. There is a reason that the record for the biggest loses any corp has taken in history has been FM and FM starting in '08, then beating it in '09, '10,'11 and '12. More toxic loans were created by this boneheaded protection than are measurable.

(3) Third Culprit: Repeal of Glass-Steagall Act. In GLB, an very good regulation whose aim was to protect privacy and it did, a tiny section of the act repealed Glass-Steagall. None of the three creators place this in the bill, it was brought through by compromise with others. It was an after throught and not the main theme or goal of the law. Nevertheless it was very impactful. It torn down a protection that was in place to prevent a conflict of interest between commercial banks (lenders), insurance companies and investment banks (brokerages). Horrendous idea that lead to lenders making toxic loans and brokers bundling many of these loans together into a new investment called the CDO stamping a triple AAA rating on them and selling them to well suckers!

(4) Other problems: Student Loans made nondischargable. More free money causes the product to skyrocket. College tuition have increase more since this bill than any product in history, it's destorying the inflation rate and creating minions of slave debtors to the government! College used to be expensive but affordable to middle class families, now it cost as much as a house and is NOT affordable to most middle class families!

NAFTA, China into WTO and removing trade barriers with China - All eroded the manufacturing sector making so much competition for high paying service jobs that employers could remove job security and under-pay for these jobs!

The snow-ball was pushed down the hill on Clinton's watch, but Bush ignored it and Obama is doing the same!

Only completely ignorant doofuses blame the CRA. Seriously.

Only delusional partisan uneducated fools deny the Community Reinvestment Act was NOT the MAIN culprit, along with the boneheaded idea to give FM and FM the ability to create a secondary mortgage market and remove all risk to the loan originator!!