BREAKING: unemployment rate falls to 4.7%

[JimBowie1958]

U.S. job creation weak, even as unemployment rate falls to 4.7%Poor job creation but unemployment falls. The poor GOP JUST CANNOT WIN!

Are you serious?
.

Of course, you do know he is totally serious, like a scrotum rash.

Scrotum rash....your brother?

Wow, weird naming customs in your family.

 

[Faun]

U.S. job creation weak, even as unemployment rate falls to 4.7%

Poor job creation but unemployment falls. The poor GOP JUST CANNOT WIN!

38K jobs created. 664K more people have given up and dropped out of the labor force. At the point where nobody is in the workforce, the unemployment rate will be 0. And morons like you will fall for the statistical manipulation.

Edit: The civilian population grew by 204K. More than three times as many people have Dropped Out than then growth in the population. This is what is a Downward Spiral, bub.

This is what abject imbeciles call a downward spiral...

Since Obama took office, employment has grown by 9M while the Given Up have growth by over 14M. Compare the two numbers, and think about it.

Obama
14.2/9.8 (ratio 1.4)

Bush
10.4/1.3 (ratio 7.7)

Don't forget, these figures include baby boomers retiring as of 2008 + the Great Recession Bush handed Obama.

Remind me again why the left should give a shit when the right whines about this??

Reagan's Recovery was a success which created enough jobs to employ the increase in the Civilian population. Obama's is an epic slow growth fail, which has generated jobs for only a little over the increased in population.

View attachment 76980

Obama's recession was 2 to 3 times deeper than Reagan's

Reagan created his recession; Obama inherited his.

Reagan's recession was cyclical which gave him tools to work with to boost the economy, such as lowering overinflated interest rates, infation rates, and tax rates; Obama's recession was structural, so he had none of those at his disposal.

Demographics largely influence the labor force participation rate. Baby boomers hitting the age of 16 boosted the rate during the 60's, 70's and 80's. Civil rights added many blacks during those years. Women's lib movement added them during the 70's and 80's; During Obama's terms, we experienced the opposite as baby boomers began hitting retirement age.

 

[JimBowie1958]

U.S. job creation weak, even as unemployment rate falls to 4.7%

Poor job creation but unemployment falls. The poor GOP JUST CANNOT WIN!

oh.,.. but the trump-nutters are whining. it's so amusing.

It is precious the way the leftwing idiotlogues laugh at growing hopelessness.

 

[pinqy]

The OP and other libs here look really stupid trying to paint this report as anything but devastatingly bad.

One poor jobs report not going to help Donnie win.

Come election time the only economic numbers the voters care about is the unemployment rate and the price of gas

At 4.7% and $2 a gallon, I don't think the Dems have much to worry about

Real unemployment is much much much higher, bub.

Alternate Unemployment Charts

View attachment 76978

The U-6 rate is not an unemployment rate -- it's an underutilization rate as it includes folks who are working. Furthermore, that rate is currently 9.7%; down from 14.2% when Obama became president and down from its recession high of 17.1%.

U6 is a perfectly valid measure. When someone loses a job making $100,000 and take a minimum wage job because that is what the economy is generating, that downgrade is meaningful in a very painful way.

But that wouldn't be reflected in the U-6.

 

[boedicca]

One poor jobs report not going to help Donnie win.

Come election time the only economic numbers the voters care about is the unemployment rate and the price of gas

At 4.7% and $2 a gallon, I don't think the Dems have much to worry about

Real unemployment is much much much higher, bub.

Alternate Unemployment Charts

View attachment 76978

The U-6 rate is not an unemployment rate -- it's an underutilization rate as it includes folks who are working. Furthermore, that rate is currently 9.7%; down from 14.2% when Obama became president and down from its recession high of 17.1%.

U6 is a perfectly valid measure. When someone loses a job making $100,000 and take a minimum wage job because that is what the economy is generating, that downgrade is meaningful in a very painful way.

But that wouldn't be reflected in the U-6.

They used to be included in U6:

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

Alternate Unemployment Charts

 

[Faun]

Come election time the only economic numbers the voters care about is the unemployment rate and the price of gas

At 4.7% and $2 a gallon, I don't think the Dems have much to worry about

Real unemployment is much much much higher, bub.

Alternate Unemployment Charts

View attachment 76978

The U-6 rate is not an unemployment rate -- it's an underutilization rate as it includes folks who are working. Furthermore, that rate is currently 9.7%; down from 14.2% when Obama became president and down from its recession high of 17.1%.

U6 is a perfectly valid measure. When someone loses a job making $100,000 and take a minimum wage job because that is what the economy is generating, that downgrade is meaningful in a very painful way.

But that wouldn't be reflected in the U-6.

They used to be included in U6:

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

Alternate Unemployment Charts

WTF??

Discouraged workers

Persons not in the labor force who want and are available for a job and who have looked for work sometime in the past 12 months (or since the end of their last job if they held one within the past 12 months), but who are not currently looking because they believe there are no jobs available or there are none for which they would qualify.

How the fuck would someone going from a $100K salary to a minimum wage job fit that description?

Think about this before you answer ... discouraged folks are not in the labor force. People who work for minimum wage are.

 

[boedicca]

Real unemployment is much much much higher, bub.

Alternate Unemployment Charts

View attachment 76978

The U-6 rate is not an unemployment rate -- it's an underutilization rate as it includes folks who are working. Furthermore, that rate is currently 9.7%; down from 14.2% when Obama became president and down from its recession high of 17.1%.

U6 is a perfectly valid measure. When someone loses a job making $100,000 and take a minimum wage job because that is what the economy is generating, that downgrade is meaningful in a very painful way.

But that wouldn't be reflected in the U-6.

They used to be included in U6:

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

Alternate Unemployment Charts

WTF??

Discouraged workers

Persons not in the labor force who want and are available for a job and who have looked for work sometime in the past 12 months (or since the end of their last job if they held one within the past 12 months), but who are not currently looking because they believe there are no jobs available or there are none for which they would qualify.

How the fuck would someone going from a $100K salary to a minimum wage job fit that description?

Think about this before you answer ... discouraged folks are not in the labor force. People who work for minimum wage are.

How about reading things in context. U6 includes workers who are underemployed; it now excludes long term discouraged workers (who were defined out of the metric in 1994).

 

[Vigilante]

Canada Free Pressa ^ | 06/03/16 | Dan Calabrese
Only 38,000 new jobs is rancidly awful - the worst in nearly six years. I guess you could be a sunny-side-up kind of guy. If it’s the worst in six years, then everything for the past six years was better. Hurray! Or you could understand how it really is: Despite the very misleading U3 unemployment rate that owes its gloss to the lowest labor participation rate since 1978, the economy has not been creating new jobs to any serious degree since the 2008 mortgage market meltdown. Any month when we do under 200,000 is a net loss because that’s the...

 

[pinqy]

Come election time the only economic numbers the voters care about is the unemployment rate and the price of gas

At 4.7% and $2 a gallon, I don't think the Dems have much to worry about

Real unemployment is much much much higher, bub.

Alternate Unemployment Charts

View attachment 76978

The U-6 rate is not an unemployment rate -- it's an underutilization rate as it includes folks who are working. Furthermore, that rate is currently 9.7%; down from 14.2% when Obama became president and down from its recession high of 17.1%.

U6 is a perfectly valid measure. When someone loses a job making $100,000 and take a minimum wage job because that is what the economy is generating, that downgrade is meaningful in a very painful way.

But that wouldn't be reflected in the U-6.

They used to be included in U6:

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

Alternate Unemployment Charts

Ummm, no. People taking a pay cut have never been included in the U-6

So called long term discouraged is someting else entirely.

But since you brought it up.....
The U-6 is unemployed plus marginally attached plus part time for economic reasons (7,436,000+1,713,000+6,430,000= 15,579,000) divided by the labor force plus marginally attached (158,466,000+1,713,000 = 160,179.090). ( numbers from www.bls.gov/news.release/empsit.toc.htm ) So 15,579,000/160,179,000 = 9.7%.

Williams claims he's just adding to that equation the "long term discouraged": those who want and are available to work but have not looked in the last year and stopped looking because they believe they won't find work. We don't have that data but....we do have the number of people who want a job but have not looked in the last year: 3,807,000 A-38. Persons not in the labor force by desire and availability for work, age, and sex
So, let's say all of those are available and are discouraged. That would make the U-6 rate (15,579,000+3,807,000)/(160,179,000+3,807,000) = 19,386,000/163,986,000 = 11.8%
So how is shadow stats getting nearly twice that number?

 

[Faun]

The U-6 rate is not an unemployment rate -- it's an underutilization rate as it includes folks who are working. Furthermore, that rate is currently 9.7%; down from 14.2% when Obama became president and down from its recession high of 17.1%.

U6 is a perfectly valid measure. When someone loses a job making $100,000 and take a minimum wage job because that is what the economy is generating, that downgrade is meaningful in a very painful way.

But that wouldn't be reflected in the U-6.

They used to be included in U6:

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

Alternate Unemployment Charts

WTF??

Discouraged workers

Persons not in the labor force who want and are available for a job and who have looked for work sometime in the past 12 months (or since the end of their last job if they held one within the past 12 months), but who are not currently looking because they believe there are no jobs available or there are none for which they would qualify.

How the fuck would someone going from a $100K salary to a minimum wage job fit that description?

Think about this before you answer ... discouraged folks are not in the labor force. People who work for minimum wage are.

How about reading things in context. U6 includes workers who are underemployed; it now excludes long term discouraged workers (who were defined out of the metric in 1994).

You said you were talking about "discouraged workers." That's the context I responded to. Obviously, showing you the actual definition caused you to realize how stupid you sounded by claiming an individual going from $100K to minimum wage is a discouraged worker; so now you try to change the context to such a person being "underemployed."

But you fail again. <smh> Underemployed folks are those who are involuntarily working part time jobs when they would prefer to work full time. Capiche? It has nothing to do with taking a salary cut and everything to do with the number of hours they work.

Alternative Measures of Labor Underutilization

Persons employed part time for economic reasons (U-6 measure) are those working less than 35 hours per week who want to work full time, are available to do so, and gave an economic reason (their hours had been cut back or they were unable to find a full-time job) for working part time. These individuals are sometimes referred to as involuntary part-time workers.

Keep digging, this is fun!



LOL

 

[Faun]

Canada Free Pressa ^ | 06/03/16 | Dan Calabrese
Only 38,000 new jobs is rancidly awful - the worst in nearly six years. I guess you could be a sunny-side-up kind of guy. If it’s the worst in six years, then everything for the past six years was better. Hurray! Or you could understand how it really is: Despite the very misleading U3 unemployment rate that owes its gloss to the lowest labor participation rate since 1978, the economy has not been creating new jobs to any serious degree since the 2008 mortgage market meltdown. Any month when we do under 200,000 is a net loss because that’s the...

Look at that, vagisil -- only took you almost six years to finally gloat about job growth being as low as 38,000 jobs added. Feels good, dudn't it?

Ya know, that happened 45 times out of Bush's 96 months in office (47% of the time); so no wonder you're doing your happy dance now. You obviously pine for the good ol' days when Bush was pretzelent.

 

[Vigilante]

Canada Free Pressa ^ | 06/03/16 | Dan Calabrese
Only 38,000 new jobs is rancidly awful - the worst in nearly six years. I guess you could be a sunny-side-up kind of guy. If it’s the worst in six years, then everything for the past six years was better. Hurray! Or you could understand how it really is: Despite the very misleading U3 unemployment rate that owes its gloss to the lowest labor participation rate since 1978, the economy has not been creating new jobs to any serious degree since the 2008 mortgage market meltdown. Any month when we do under 200,000 is a net loss because that’s the...

Look at that, vagisil -- only took you almost six years to finally gloat about job growth being as low as 38,000 jobs added. Feels good, dudn't it?

Ya know, that happened 45 times out of Bush's 96 months in office (47% of the time); so no wonder you're doing your happy dance now. You obviously pine for the good ol' days when Bush was pretzelent.

The Funniest BLS Report Ever

Only a captured government drone could put out a report showing only 38,000 new jobs created, with the working age population rising by 205,000, and have the balls to report the unemployment rate plunged from 5.0% to 4.7%, the lowest since August 2007. If you ever needed proof these worthless bureaucrats are nothing more than propaganda peddlers for the establishment, this report is it. The two previous months were revised significantly downward in the fine print of the press release.

It is absolutely mind boggling that these government pond scum hacks can get away with reporting that 484,000 people who WERE unemployed last month are no longer unemployed this month. Life is so fucking good in this country, they all just decided to kick back and leave the labor force. Maybe they all won the Powerball lottery. How many people do you know who can afford to just leave the workforce and live off their vast savings?

In addition, 180,000 more Americans left the workforce, bringing the total to a record 94.7 million Americans not in the labor force. The corporate MSM will roll out the usual “experts” to blather about the retirement of Baby Boomers as the false narrative to deflect blame from Obama and his minions. The absolute absurdity of the data heaped upon the ignorant masses is clearly evident in the data over the last three months. Here is government idiocracy at its finest:

Number of working age Americans added since March – 406,000

Number of employed Americans since March – NEGATIVE 290,000

Number of Americans who have supposedly voluntarily left the workforce – 1,226,000

Unemployment rate – FELL from 5.0% to 4.7%


Talk about perpetrating the BIG LIE. Goebbels and Bernays are smiling up from the fires of hell as their acolytes of propaganda have kicked it into hyper-drive. We only need the other 7.4 million “officially” unemployed Americans to leave the work force and we’ll have 0% unemployment. At the current pace we should be there by election time. I wonder if Cramer, Liesman, or any of the other CNBC mouthpieces for the establishment will point out that not one single full-time job has been added in 2016. There were 6,000 less full-time jobs in May than in January, while there are 572,000 more low paying, no benefits, part-time Obama service jobs. Sounds like a recovery to me.

It gets even better. The birth death excel spreadsheet “adjustment” added 224,000 phantom jobs into the May calculation. The lies – they burn. We know for a fact more businesses are closing than opening since the 2008 financial crisis. This model assumes more openings than closings. IT’S ADJUSTMENT IS DEAD WRONG. In reality, jobs should be subtracted from the total. It added 231,000 phantom jobs in April too. The jobs numbers are much worse than the bad numbers being reported.

When you see lies, misinformation and deceitfulness at this level, you have to ask yourself whether this entire debt supported house of cards is about to fall. The smell of desperation is in the air. The MSM stories about a booming economy are rolled out on a daily basis. Meanwhile, the average family is being crushed by Obamacare, rising rents, rising food costs, and no interest on any savings they might have left.

It also seems awfully suspicious that within seconds of the awful report, the faux journalists immediate reaction was NO FED RATE HIKE in June or July. These pundits of propaganda want the ignorant masses to think a .25% increase in interest rates actually matters to the economy or the average person. We’ve had ZIRP for almost seven years and the economy blows. Rates have been at emergency levels as the establishment has flogged the economic recovery story to death. There has been no recovery for the average person. The recovery has been for Wall Street and the sycophants who suck off their teat.

Obama has been on his self congratulatory tour exclaiming how fucking awesome the economy has been under his reign of error. The Bush presidency was most certainly a fiscal disaster, but Obama’s tenure was even worse. The numbers don’t lie, but Obama does.

Look at that stupendous record of success. Obama should be as proud as punch. Since the unemployment rate is now back to 2007 levels, before the Federal Reserve/Wall Street/Washington DC created financial implosion, let’s take a look at the Obama success story:

• The workforce has grown by 21 million people, while the number of employed has grown by a whopping 5 million.
• The labor participation rates has plunged from 66.0% to 62.6%, the lowest since the 1970s.
• The number of Americans who have left the work force because their lives are so fulfilled is 16 million. I’m sure there is no correlation to food stamps or SSDI enrollment.
• The Boomer retirement narrative is proven false by the fact that a record percentage of Americans over the age of 65 are working in order to avoid starvation and homelessness.
• Of the 5 million jobs added since 2007, only 2 million of them were full-time.
• Obama’s success in destroying the mining industry is borne out in the 207,000 jobs destroyed in the last two years.
• The percentage of men aged 25 to 54 (prime working years) not working is at an all-time high.
• Real median household income (using the fake understated CPI) is still 1.3% LOWER today than it was in 2007.
• Wages continue to stagnate in the 2.3% range, while real inflation for real people in the real world exceeds 5%.

It doesn’t matter how much propaganda the establishment peddles, average families who aren’t beholden to the establishment for their living, know how bad the things have gotten. They have been getting increasingly pissed off. The rising tide of support for Trump and Sanders is a reaction to the lies, misinformation, mismanagement, corruption, and lawlessness of the establishment. The people know they have been screwed. The complex web which makes up the establishment control makes it difficult for the average person to discern who exactly has screwed them, but they know a screw when they feel it.

As this summer progresses and the economy continues to sink, the anger will continue to build. The violence has already begun, as paid thugs are bused in to create havoc at every Trump rally. The establishment fears the unknown. They need to control the agenda. Trump scares them. The economy is clearly in recession for the average family. The stock, bond, and real estate markets are the most overvalued in history. A crash in any or all of these markets would unleash mayhem. The next five months could alter the future course of this country. Stay tuned.

The Funniest BLS Report Ever | Zero Hedge

 

[IsaacNewton]

Trump - "you'll be bankrupting so much you'll get tired of bankrupting if I'm elected. Believe me, I know bankruptcy!"

 

[Vigilante]

Trump - "you'll be bankrupting so much you'll get tired of bankrupting if I'm elected. Believe me, I know bankruptcy!"

That sounds like a Fig Newtonism to me!

 

[JimH52]

U.S. job creation weak, even as unemployment rate falls to 4.7%

Poor job creation but unemployment falls. The poor GOP JUST CANNOT WIN!

Now it will be nonstop how good news isn't really good news from Republicans. A good economy going into November this year is just another in a long line of negatives to them.

They would prefer misery en masse.

Can you blame them? With Dump as your nominee, misery is something you want to share...

 

[IsaacNewton]

U.S. job creation weak, even as unemployment rate falls to 4.7%

Poor job creation but unemployment falls. The poor GOP JUST CANNOT WIN!

Now it will be nonstop how good news isn't really good news from Republicans. A good economy going into November this year is just another in a long line of negatives to them.

They would prefer misery en masse.

Can you blame them? With Dump as your nominee, misery is something you want to share...

I think this is all they have. They are miserable and need someone to be miserable with them. Misery loves company as it goes, you are right.