The unemployment rate is meaningless

[basquebromance]

the income/expenses squeeze today means that families have cut their savings by two-thirds while their debt has multiplied a shocking 15 times.

when something goes wrong, they have no savings to fall back on and they are already loaded up with debt.

when anything goes wrong, all these good, hardworking, solidly middle-class families are tumbling over a cliff.

 

[Billy_Kinetta]

the income/expenses squeeze today means that families have cut their savings by two-thirds while their debt has multiplied a shocking 15 times.

when something goes wrong, they have no savings to fall back on and they are already loaded up with debt.

when anything goes wrong, all these good, hardworking, solidly middle-class families are tumbling over a cliff.

They are loaded up with debt because they bit off more than they could chew. Many see borrowing as the new income that will propel their lifestyle.

 

[T.E.C. - Iowa]

The title of this thread is "The unemployment rate is meaningless!" The graph below is the "unemployment rate" vs. the employment population ratio. Notice that they mirror each other up to the crash of 2008. Then the unemployment rate falls, but the employment population ratio creeps up begrudgingly!

The answer to what is happening is found in the people who give up looking for a job. This lowers the unemployment rate - artificially! In the employment population ratio, if you quit looking for a job, you are still unemployed.

 

[basquebromance]

Trump is making it much harder for Americans to take care of their families. His policies are driving 2% wage growth and 64% Obamacare premium growth.

 

[Siete]

but he damn sure handed the banks calm seas and smooth sailing while the people tread water -

gee, imagine that.

 

[pinqy]

the income/expenses squeeze today means that families have cut their savings by two-thirds while their debt has multiplied a shocking 15 times.

when something goes wrong, they have no savings to fall back on and they are already loaded up with debt.

when anything goes wrong, all these good, hardworking, solidly middle-class families are tumbling over a cliff.

What does any of that have to do with the unemployment rate? The UE rate is meant to measure the percent of available labor not being used. That's it. That's all it's for. Absolutely nothing to do with quality of life.

 

[basquebromance]

Gentle reminder we're fucking slaves.

 

[DigitalDrifter]

In April 2018, the unemployment rate for black Americans hit its lowest point on record — 6.6 percent. The figure is volatile (it rose 0.9 points in January and fell 0.8 in February), but the long-term trend is clear. Black unemployment continues to drop.

Analysis | Black unemployment hits a new low — but still trails white unemployment significantly

 

[francoHFW]

the income/expenses squeeze today means that families have cut their savings by two-thirds while their debt has multiplied a shocking 15 times.

when something goes wrong, they have no savings to fall back on and they are already loaded up with debt.

when anything goes wrong, all these good, hardworking, solidly middle-class families are tumbling over a cliff.

Thanks GOP


Over the past 35 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:

1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.

Over the past 63 years worker productivity has grown by 2.0% per year.

But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):

1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%

A 13% drop since 1980

2. THE TOP 10% GET A LARGER SHARE.

Share of National Income going to Top 10%:

1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%

An increase of 16% since Reagan.

3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.

The savings Rose up to Reagan and fell during and after.

1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)

A 12.3% drop after Reagan.

4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.

Household Debt as percentage of GDP:

1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%

A 45% increase after 1980.

5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.

Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:

1980 = 10%
2003 = 56%

A 5.6 times increase.

6. AND THE AMERICAN DREAM IS GONE.

The Probably of Moving Up from the Bottom 40% to the Top 40%:

1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%

A 10% Decrease.

Links:

1 = ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 = https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 = Clipboard01.jpg (image)
2 – http://www.whitehouse.gov/omb/blog/09/04/27/CongratulationstoEmmanuelSaez/
3 = http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 = U.S. Bureau of Economic Analysis (BEA)
4 = Federated Prudent Bear Fund (A): Overview

 

[basquebromance]

Gas prices are at a 3 year high. Stock market is 3K points lower since Jan. We’re basically in a trade war. Farms set to close. The poor are paying for tax cuts that benefit billionaires. Nazis and KKK are more emboldened. POC are being targeted as threats. Tired of winning yet?

 

[basquebromance]

Some CEOs make 1,000 times more than their workers

 

[pinqy]

the income/expenses squeeze today means that families have cut their savings by two-thirds while their debt has multiplied a shocking 15 times.

when something goes wrong, they have no savings to fall back on and they are already loaded up with debt.

when anything goes wrong, all these good, hardworking, solidly middle-class families are tumbling over a cliff.

Trump is making it much harder for Americans to take care of their families. His policies are driving 2% wage growth and 64% Obamacare premium growth.

Gentle reminder we're fucking slaves.

Gas prices are at a 3 year high. Stock market is 3K points lower since Jan. We’re basically in a trade war. Farms set to close. The poor are paying for tax cuts that benefit billionaires. Nazis and KKK are more emboldened. POC are being targeted as threats. Tired of winning yet?

Some CEOs make 1,000 times more than their workers

You start a thread with the title “The unemployment rate is meaningless, but none of your posts mention unemployment at all. Could you please explain.

 

[expat_panama]

...You start a thread with the title “The unemployment rate is meaningless, but none of your posts mention unemployment at all. Could you please explain...

That was bugging me too, a number of times I had my hopes up that maybe we could get hot'n'heavy about employment w/o that tire old 'headline unemployment rate' ---then the coy switch. Seems Basquebro's got great advertising but nothing to sell, reminds me of a girl I once dated...

Here's an idea--

There, now at least we got the left wingers dropping the U6.

 

[basquebromance]

...You start a thread with the title “The unemployment rate is meaningless, but none of your posts mention unemployment at all. Could you please explain...

That was bugging me too, a number of times I had my hopes up that maybe we could get hot'n'heavy about employment w/o that tire old 'headline unemployment rate' ---then the coy switch. Seems Basquebro's got great advertising but nothing to sell, reminds me of a girl I once dated...

Here's an idea--

There, now at least we got the left wingers dropping the U6.

Monster: i feed on your fears.

You: I have none.

Me: Basic economics.

You: NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO OH MY GOD!

 

[Faun]

In April 2018, the unemployment rate for black Americans hit its lowest point on record — 6.6 percent. The figure is volatile (it rose 0.9 points in January and fell 0.8 in February), but the long-term trend is clear. Black unemployment continues to drop.



View attachment 191972



Analysis | Black unemployment hits a new low — but still trails white unemployment significantly

Thanks, Obama

 

[Crepitus]

...You start a thread with the title “The unemployment rate is meaningless, but none of your posts mention unemployment at all. Could you please explain...

That was bugging me too, a number of times I had my hopes up that maybe we could get hot'n'heavy about employment w/o that tire old 'headline unemployment rate' ---then the coy switch. Seems Basquebro's got great advertising but nothing to sell, reminds me of a girl I once dated...

Here's an idea--

There, now at least we got the left wingers dropping the U6.

Don't be stupider than you have to be. The unemployment rate dropped for almost all of President Obama's administration. He took over a free falling economy shedding he ndreds of thousands of jobs a week and turned it around within a few months.

 

[dannyboys]

Trump is making it much harder for Americans to take care of their families. His policies are driving 2% wage growth and 64% Obamacare premium growth.

At least you had the smarts to call it "Obamacare".
BONOBO shoved his socialist wet dream he proudly called 'Obamacare' down the throats of the American people.
It NEVER worked! EVER!
The young healthy workers were damned if they would pay for coverage they were not needing.

 

[dannyboys]

the income/expenses squeeze today means that families have cut their savings by two-thirds while their debt has multiplied a shocking 15 times.

when something goes wrong, they have no savings to fall back on and they are already loaded up with debt.

when anything goes wrong, all these good, hardworking, solidly middle-class families are tumbling over a cliff.

You ought to have worked harder to get a decent education. Then you wouldn't be spending all your time here bitching about how 'the world done you wrong'.
Now get back to work! That garbage on the AW parking lot isn't going to clean itself up!

 

[dannyboys]

the income/expenses squeeze today means that families have cut their savings by two-thirds while their debt has multiplied a shocking 15 times.

when something goes wrong, they have no savings to fall back on and they are already loaded up with debt.

when anything goes wrong, all these good, hardworking, solidly middle-class families are tumbling over a cliff.

Trump is making it much harder for Americans to take care of their families. His policies are driving 2% wage growth and 64% Obamacare premium growth.

Gentle reminder we're fucking slaves.

Gas prices are at a 3 year high. Stock market is 3K points lower since Jan. We’re basically in a trade war. Farms set to close. The poor are paying for tax cuts that benefit billionaires. Nazis and KKK are more emboldened. POC are being targeted as threats. Tired of winning yet?

Some CEOs make 1,000 times more than their workers

You start a thread with the title “The unemployment rate is meaningless, but none of your posts mention unemployment at all. Could you please explain.

He can't b/c he's illiterate.

 

[dannyboys]

Gentle reminder we're fucking slaves.

Speak for yourself asshole.
I'm taking my classic Maserati to get detailed this week. I hear the detailing shop is hiring.