246,000 New Jobs Drop Rate to 7.7%

[Avorysuds]

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?

Know what else is at a record high? The FEDs spending... So good chit RW, you support the FEDs dumping cash on rich people as long as it makes the markets look good... But how long will it last and what will you do with the trillions in debt from doing it?

 

[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. 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

And how many are Not In The Labor Force? The increase in those who have dropped out over the past year is 1.8M, greater than the growth in the Labor Force.

And there's a lovely picture at the link, which demonstrates just how truly awful the so-called Obama Recovery is.

CHART: THE SCARIEST JOBS CHART EVER - Business Insider

 

[GHook93]

Wasn't the payroll tax expiring supposed to hurl us back into recession?

Or was it that miniscule tax hike on the so-called 'job creators'?

btw, note that this good number occurred despite more government job cuts.

Earth to stupid. The payroll expiration was on the worker, the employer never got a holiday. And yes, retail sales were hit hard!

If you had a job you would know this!

So no one here said the payroll tax hike was going to hurt the economy? Jobs?

They said it would hurt the economy and retail spending went well down!

 

[uscitizen]

What is wrong with you right wingers.
You alsways said when the market recovered the jobs would too.
Now just becuase Obama is president you do not seem to believe that any more.

 

[Avorysuds]

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

And how many are Not In The Labor Force? The increase in those who have dropped out over the past year is 1.8M, greater than the growth in the Labor Force.

And there's a lovely picture at the link, which demonstrates just how truly awful the so-called Obama Recovery is.

CHART: THE SCARIEST JOBS CHART EVER - Business Insider

I honestly don't know why you bother. Obama is a demi-god to these people.

 

[EdwardBaiamonte]

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!!

And lets not forget it all would have been 100% impossible without a Federal Reserve very liberal easy money policy. You can't buy and bid up the prices of houses unless some liberal somewhere is printing the money!!

 

[uscitizen]

Well why didn't the republicans do something during the 6 years they controlled everything?
That was BEFORE it all fell apart and they just bragged how fantastic the economy was.

 

[Wry Catcher]

The right wing echo chamber is out in full force; nothing like good economic news to bring out the Henny Penny Dancers clucking in harmony, "The sky is falling, the sky is falling".

 

[uscitizen]

This will certainly be a bad, bad day for Republicans - expect to see the tea cons uncontrolled rage and hate talk today!!



Stock Market News, Business News, Financial, Earnings, World Markets - CNBC

why? The GOP made it clear that stimulus spending was a waste of money. The stimulus did squat....but now, 3 years after the stiumulus, with no new stimuli allowed by the GOP, the economy is finally showing signs of life.

Or are you one of thsoe fools that would have attributed any growth to the stimulus no matter HOW MANY years down the road the recovery became apparent?

It was the Reagan tax cuts that are pulling us out.

 

[Skull Pilot]

Well at least you're not still claiming the uptick in jobs is due to the stimulus 4 years ago.

If you think about it the last thing the government did for the economy was the sequester so that must be what worked.

 

[uscitizen]

I thought it was all the pork in the Fiscal cliff bill.

 

[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?

Know what else is at a record high? The FEDs spending... So good chit RW, you support the FEDs dumping cash on rich people as long as it makes the markets look good... But how long will it last and what will you do with the trillions in debt from doing it?

Debts a bitch ain't it?

How much is coming from new spending? How much from fixed expenses?
What do you want to cut first?

 

[boedicca]

How about we cut proportionately until spending levels are back to 2007 (based on relative increases to each dept/agency)?

 

[edthecynic]

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

And how many are Not In The Labor Force? The increase in those who have dropped out over the past year is 1.8M, greater than the growth in the Labor Force.

And there's a lovely picture at the link, which demonstrates just how truly awful the so-called Obama Recovery is.

CHART: THE SCARIEST JOBS CHART EVER - Business Insider

And last year there were 2,744,110 new Social Security awards and 979,973 new disability awards. Do you expect people to work until they drop dead on the job and do you expect the sick and injured to work too?

 

[boedicca]

No, I don't. But the worst unemployment is among the young, bub.

 

[edthecynic]

How about we cut proportionately until spending levels are back to 2007 (based on relative increases to each dept/agency)?

Sure that makes sense, after all there has been no increase in population or inflation since 2007.
BTW are you willing to take military spending down to 2007 levels?

 

[Trajan]

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?

when the market hit a 14K high under bush it was the rich getting richer and the poor not getting shit.


now? with household income down 4k in the last 5 years? Oh new high!!!! New High!!! the rich aren't greedy bastards anymore ( and the market by about a third is on hot air, blown up by the fed.. but I don't expect you to get that)


annnnd, the gdp was over 3% and, unemployment under 5...but hey, bush mismanaged the economy

 

[Trajan]

How about we cut proportionately until spending levels are back to 2007 (based on relative increases to each dept/agency)?

Sure that makes sense, after all there has been no increase in population or inflation since 2007.
BTW are you willing to take military spending down to 2007 levels?

I'll do you one better, lets take spending as gdp down to the historical 18.5, 19% and whatever hit the military has to take proportionally, is fine with me and the rest take their hit....you down for that?

 

[boedicca]

I'm like, totally, down with that.

I'll also note, somewhat ironically, that in 2007, we had two wars underway. Why on earth couldn't we reduce military spending below 2007 levels with the Iraq one now ended?

 

[Trajan]

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

And how many are Not In The Labor Force? The increase in those who have dropped out over the past year is 1.8M, greater than the growth in the Labor Force.

And there's a lovely picture at the link, which demonstrates just how truly awful the so-called Obama Recovery is.

CHART: THE SCARIEST JOBS CHART EVER - Business Insider

And last year there were 2,744,110 new Social Security awards and 979,973 new disability awards. Do you expect people to work until they drop dead on the job and do you expect the sick and injured to work too?

right , becasue all of a sudden in the last 4 years, in a dem. admin. with a plenitude of Osha's and assorted state, fed. agencies and reporting authorities up the ass, jobs have become just so much more harmful....