4.6% unemployment rate

[Faun]

Well, we all know those unemployment numbers are a farce.

I don't know that. Please explain. The UE rate is supposed to measure the percent of people unsuccessfully trying to work: the amount of available labor not being used. How are you claiming it fails?

The real unemployment rate is closer to 15% with some 94M+ people out of work.

How are you defining "real unemployment" and where are you getting your numbers?

Google it... a search engine is very resourceful.

It gets very tiresome teaching dimwits.

Oh, I worked professionally with these data for over a decade. I'm aware of the multiple conspiracy theories out there. None of them are true. I don't know which one you're subscribing to.

As for your real unemployment rate, it's 4.6 % if you're counting those who are trying to work, 5.8% if you're counting those who want to work, are available, and have looked in the last year, 8% if you count everyone who says they want a job, and 40.3% if you count everyone not working.
So how are you getting 15%?

Record 95,055,000 Americans Out Of The Labor Force

Who was the last president for whom that number wasn't a record?

 

[Faun]

Black unemployment falls to lowest mark since 2007

I quote the US Govt - the OBAMA ADMINISTRATION - reporting black unemployment is at 15.1%...

...and YOU call Barry a liar by posting DNC propoganda source CNN claiming black unemployment is now in the '8's...

Now that's some funny shit right there!

You posted the same number I posted. In your post #240 shit for brains. Jesus Christ

So you agree black unemployment is 15.1%, almost twice whites, which is what my link states...

Where do you get 15.1% from? It's 8.1%

data.bls.gov/timeseries/LNS14000006

I posted a .gov link from the Barry administration. Ask Barry where HE got it...

Nah, don't need to. Black unemployment is 8.1%. I'll just assume you misread whatever it is you think you read.

 

[eddiew37]

It's bullshit of course.
They count U3 when they should be counting U6. U6 Unemployment Rate | Portal Seven

The U3 has always been used.

You fucking whiners want to use the U6 because it is a higher number & you think it makes Obama look bad.

The reality is that the U3 is just an indicator used to note where the economy is heading.

The U6 is accurate.
U3 is misleading......because it doesn't give you a true picture of unemployment in this country.

The U3 has traditionally been the unemployment rate.

It still is the official unemployment rate despite conservatives' best efforts to change that to the U-6.

Yup...yup.

And we all know it's worthless. Doesn’t actually mean dick.
We're still losing jobs faster than jobs are being created.

Jobs are disappearing faster than they are being created. This trend will only increase as technological advances accelerate and compound.

This trend will create rising wealth inequality and social instability which we are already observing today. Too many people, not enough well paying jobs. Robots / computer assisted humans produce goods and services cheaper / more efficiently than humans alone. In a capitalist system robots will win as the companies using technology will dominate in the marketplace as only the most profitable companies survive and grow. The world's capital is flowing towards automation and away from investing in human labor simply because automation has a better ROI. This is the tipping point economically speaking. The point of no return.

 

[boedicca]

I don't recall ever claiming that the LFP should be 100%. But under Obama, we've regressed back to the 1970s, despite the fact that Millennials outnumber Boomers.

Now you are starting to understand....Why did it increase in the 1970s?
Women and Baby Boomers entering the workforce

What is happening now?
They are retiring at 4 million a year

LFP will continue to drop for another 15 years....AND ITS TRUMPS FAULT

And as Millennials outnumber Boomers, the additions to the workforce should offset retirees. But that's not what's happening because so many Millennials have dropped out.

Millennials have not dropped out. Though that's more to do about demographics as they are getting older too. In 2006, the LFPR among millennials was 59.7%. Today it's 68.7%.

In 2006, a bunch of Millennials were in grade school. 10 years later, they are of working age. I already posted a table that shows declining LFRP for young and prime working age cohorts, while retirement age people are working at a higher rate.

So the myth that Boomers are the The Cause for declining LFRP pins the BOGOMETER.

In 2006, they were aged 16-24. 59.7% id them were in the labor force.

Today they're aged 16-34 and 68.7% of them are in the labor force.

Here it is again. Pew defines Millennials as being born between 1977 and 1992. In 2006, some of them were only 14 years old. So your use of statistics is highly flawed.

The BLS shows declining LFPR for workers 54 under (prime work age). I know you'll try to spin this is as a positive, but it's not.

 

[LoneLaugher]

Far more concerned about the record number of people out of the labor force, a problem that skyrocketed under Obama.

Bullshit.

Did economists secretly knew of Obama presidency in 2002?

Not sure where you're getting this. or what projections have to do with it. The fact remains that the labor participation rate has been declining at an unprecedented rate under Obama.

You don't understand why the projections are important?

 

[easyt65]

Democrats had a near super majority conyrol of all of Congress Bush's ladt 2 years and Barry's 1st 2 years.

Even as Liberals know, CONGRESS conttols the budget, the spending, and thus the economy.

The economy Barry 'inherited' was 'inherited' from his Liberal brethren!

 

[LoneLaugher]

Trump's Labor Force Participation rate for the future is going to be terrible: it will be pointed out every day.

Not by me.

 

[easyt65]

I quote the US Govt - the OBAMA ADMINISTRATION - reporting black unemployment is at 15.1%...

...and YOU call Barry a liar by posting DNC propoganda source CNN claiming black unemployment is now in the '8's...

Now that's some funny shit right there!

You posted the same number I posted. In your post #240 shit for brains. Jesus Christ

So you agree black unemployment is 15.1%, almost twice whites, which is what my link states...

Where do you get 15.1% from? It's 8.1%

data.bls.gov/timeseries/LNS14000006

I posted a .gov link from the Barry administration. Ask Barry where HE got it...

Nah, don't need to. Black unemployment is 8.1%. I'll just assume you misread whatever it is you think you read.

No, you don't WANT to because you would rather remain ignorant - hell, you didn't even read it the 1st time. CAN you read?

 

[RealDave]

In Most cases these jobs were paying six figures...
Each one of them was worth several part-time beginers work service jobs…

U.S. Has Lost 191,000 Mining Industry Jobs Since September 2014

And there are about 6 million jobs for the trades going begging in the US. If those miners had a lick of sense, they would learn a trade and go to where the jobs are. Right now, in my e-mail, about every third e-mail seems to be, 'we have a great job for you'. Well no, they don't. I am 73, and will retire this year.

Yes, hard to change industries, but I have done it twice, and gained each time. And it is natural gas, not President Obama or even the renewables that are putting coal out of business.

Well, the problem is other jobs don't pay worth a shit. There is no substitute for a great paying mining job.
Two weeks on - three weeks off, six-figure income… Damn hard to replace.
And worse yet it really hurts the economy of the local areas to lose such good paying jobs… fact

If you are talking about the drillers, the problem is overproduction drove the prices down. Don't need anymore wells at present. If you are talking about the coal miners, same. Abundant cheap natural gas is putting coal out of business, and the renewables now cost signifcantly less than coal. So coal is dead. And we have a surplus of natural gas and oil. Typical boom-bust of the business.

True, but the problem is the EPA and the like have made it impossible for those people to move into other fields because of the lack of good pay.
Fortunately North Dakota has absorbed some of the jobs, but only some.
Still there is so much untapped potential for Coal... hopefully some of that will start coming back now with new leadership.

So, they were looking for jobs as polluters?

 

[boedicca]

View attachment 100599

I don't recall ever claiming that the LFP should be 100%. But under Obama, we've regressed back to the 1970s, despite the fact that Millennials outnumber Boomers.

Now you are starting to understand....Why did it increase in the 1970s?
Women and Baby Boomers entering the workforce

What is happening now?
They are retiring at 4 million a year

LFP will continue to drop for another 15 years....AND ITS TRUMPS FAULT

And as Millennials outnumber Boomers, the additions to the workforce should offset retirees. But that's not what's happening because so many Millennials have dropped out.

There are only 8 million TOTAL looking for work
60 million are 65 and older

95M are out of the labor force, a great many of which are Prime Working Age.

Very interesting chart there.

Decreasing number 16 to 19 in the work force. That is good. More finishing school.
Decreasing number 20 to 24 in the work force. Good, more attending trade school and college.
From 25 to 54, about a five percent drop in participation, due to those that failed to get any training.
From 55 to 75+, an increase in participation right across the board. Industry and commerce taking steps to retain those it values. Significant increases in wages and benefits, I know, that is the position I am in at 73.

Since the GOP ardently opposes an educated work force, they take the blame for the under employment of the younger workers.

And Unicorns frolic in the rainbow garden.

Back in REALITY:

Young people not developing a worth ethic is a bad thing.

People staying in school years and years without working and with loading up on tons-o-debt is a bad thing.

Older people staying in the workforce because they can't afford to retire is a bad thing.

 

[easyt65]

Yeah, welcome to Barry's 'CHANGE'.

 

[LoneLaugher]

The fact is that the US economy has improved steadily over the past 8 years.

If you believe RW media and Trump ( as so many have ) you would think that the fact is that the economy has
become much worse in the last 8 years.

That is one key reason why Trump is POTUS.

Those same believers will absolutely believe him when he tells them that the economy is much, much better a year from now.

I will, in the same manner that I do today, believe the facts.

 

[charwin95]

Of course those fake unemployment numbers are gonna go down, when the labor force participation rate is in the toilet that's what happens. The OP has shit for brains…

Your messiah will take over this country....... I'm sure by February those stats are 100% accurate and acceptable for your messiah.
Followers like you ...... Will be cheering YEEEESSSS those numbers are 100% accurate. Right Rustic?

 

[Billy000]

Far more concerned about the record number of people out of the labor force, a problem that skyrocketed under Obama.

Bullshit.

Did economists secretly knew of Obama presidency in 2002?

Not sure where you're getting this. or what projections have to do with it. The fact remains that the labor participation rate has been declining at an unprecedented rate under Obama.

An unprecedented rate? No. it's low I'll agree, but you aren't even factoring in the demographics such as retiring baby boomers, voluntary house spouses, college students, and more people on disability.

 

[charwin95]

one of the great job creators president obama who was handed a bs economy and turned it around ,,,so sorry obama haters

Riiiiiight Obama is so great he lost the House, Senate, White House, and SCOTUS during his 2 terms. /SARCASM

Obungles is the best thing to have happened for the republican party, he'll leave with the dems in shambles and the repubs in full control

Trump won because racist dog shit like you.

 

[Rustic]

Of course those fake unemployment numbers are gonna go down, when the labor force participation rate is in the toilet that's what happens. The OP has shit for brains…

Your messiah will take over this country....... I'm sure by February those stats are 100% accurate and acceptable for your messiah.
Followers like you ...... Will be cheering YEEEESSSS those numbers are 100% accurate. Right Rustic?

Most anything is better than what we've had for the last eight years…

But one things for sure… He was one hell of a…

 

[BluesLegend]

one of the great job creators president obama who was handed a bs economy and turned it around ,,,so sorry obama haters

Riiiiiight Obama is so great he lost the House, Senate, White House, and SCOTUS during his 2 terms. /SARCASM

Obungles is the best thing to have happened for the republican party, he'll leave with the dems in shambles and the repubs in full control

Trump won because racist dog shit like you.

Calm yourself, you can try again in 4 to 8 years who knows maybe you will have better luck.

 

[charwin95]

one of the great job creators president obama who was handed a bs economy and turned it around ,,,so sorry obama haters

1. Barry was handed a 'bad economy' by his fellow Democrats who held a near super majority control of all of Congress the last 2 years of Bush's administration - controlling Congress, the BUDGET, SPENDING, & thus the ECONOMY.

In those last 2 years liberals added $1.5 trillion in new debt while presiding over their declining economy.

In Bush's 1st 6 years, with a GOP Congress - during 9/11/01, the economic aftermath, & 2 wars - Bush only added $2.5 trillion, $1 trillion more that the liberals added in only 2 years.

Onama may have inherited a 'bad economy', but it was his fellow Democrats who gave it to him.

2. 4.6 unemployment rate....sounds great, especially when you don't count the 94 million Americans not wrking /in the work force and NOT all being to old to work.

Barry doctors his unemployment numbers as much as he doctored his Stimulus bill's "# of jobs created / saved".

You lied again. Bush was the president before Obama........ Im sure you don't that either. Why do you always lie?

 

[RealDave]

Did Trump talk about the jobs report yet? Or is he still out wasting secret service money on his thank you tpour.

Poor jealous pissed-off snowflake....

So you were ok with Secret Service being wasted on a record number of rounds of golf (after Barry said a President shouldn't be playing golf while our military are fighting...)?!

And you bawled about it like a little girl. Payback is a bitch.

 

[Faun]

Now you are starting to understand....Why did it increase in the 1970s?
Women and Baby Boomers entering the workforce

What is happening now?
They are retiring at 4 million a year

LFP will continue to drop for another 15 years....AND ITS TRUMPS FAULT

And as Millennials outnumber Boomers, the additions to the workforce should offset retirees. But that's not what's happening because so many Millennials have dropped out.

Millennials have not dropped out. Though that's more to do about demographics as they are getting older too. In 2006, the LFPR among millennials was 59.7%. Today it's 68.7%.

In 2006, a bunch of Millennials were in grade school. 10 years later, they are of working age. I already posted a table that shows declining LFRP for young and prime working age cohorts, while retirement age people are working at a higher rate.

So the myth that Boomers are the The Cause for declining LFRP pins the BOGOMETER.

In 2006, they were aged 16-24. 59.7% id them were in the labor force.

Today they're aged 16-34 and 68.7% of them are in the labor force.

Here it is again. Pew defines Millennials as being born between 1977 and 1992. In 2006, some of them were only 14 years old. So your use of statistics is highly flawed.

The BLS shows declining LFPR for workers 54 under (prime work age). I know you'll try to spin this is as a positive, but it's not.

View attachment 100603

I can post numbers too, comparing November 2006 with November 2016...

civilian non-inst pop....
16-24 (2006): 37,076,000

not in labor force....
16-24 (2006): 14,931,000

labor force participation rate....
16-24 (2006): 59.7%



civilian non-inst pop.... (16-24) plus (25-34)
16-34 (2016): 82,153,000

not in labor force....
16-34 (2016): 25,693,000

labor force participation rate....
16-34 (2016): 68.7%



As far as the impact of baby boomers retiring, in 2015, the increase of folks not in the labor force was:

1,219,000

The number of folks who retired was:

1,080,290

Don't fool yourself... retiring baby boomers are putting a huge strain on the labor force participation rate.