U-6 Unemployment Rate Drops to 17-YEAR LOW; GDP Growth Exceeds Experts' Estimate

[mikegriffith1]

The U-6 unemployment rate--aka "the real unemployment rate," the rate that even Bernie Sanders says gives us a better picture of the employment picture--dropped to 7.8% in April. This is a 17-YEAR LOW. The last time the U-6 was at 7.8% was in July 2001! Better yet, since President Trump came to office, the U-6 rate has dropped by a whopping 17%, from 9.4% in January 2017 to 7.8% last month.

U6 Unemployment Rate | Portal Seven

Also, GDP growth in the Q1 (first quarter) of 2018 is markedly exceeding most experts' predictions. Q1 GDP growth was 11% higher than most experts had predicted. Economists polled by Reuters estimated that 1Q GDP growth would be 2.0%, but it was 2.3%.

Finally, allow me to repeat a fact that I noted in a recent thread: April saw another huge, historic jump in manufacturing jobs with 24,000 new manufacturing jobs created. The four highest jumps in manufacturing jobs have all occurred since Donald Trump was elected, and three of them have occurred since he took the oath of office.

https://www.bls.gov/news.release/pdf/empsit.pdf

Investor's Business Daily noted four week ago:

Trump said on Thursday that "the cutting of regulations could have had the same or even a bigger impact on our economy." That's no exaggeration. In Obama's last year, the number of factory jobs shrank by 16,000. Since Trump entered office and began cutting taxes and slashing regulations, 281,000 new manufacturing jobs have been created. (Trump's Deregulation Binge Shows No Signs Of Ending | Investor's Business Daily)​

With April's data now in, the number of new manufacturing jobs under Trump now stands at 305,000.

The Balance notes that manufacturing jobs are a key economic indicator:

Pay close attention to how many manufacturing jobs are added or lost each month. This is a significant leading economic indicator. Factories add workers as soon as they receive a large enough order. It could take months or even years before the order ships and shows up in economic output. Manufacturing is a better indicator of recession than the service sector, whose job levels remain consistent through the boom-and-bust cycle. (Where the 164,000 Jobs Were Added in April)​

 

[Darkwind]

2.3% and that will likely be revised downward.

2.3% growth sucks ass.

 

[mikegriffith1]

2.3% and that will likely be revised downward. 2.3% growth sucks ass.

How about the 17-year-low U-6 unemployment rate? How about the 18-year-low U-3 unemployment rate (the official rate)? How about the historic jump in manufacturing jobs? How about the fact that the stock market has doubled its performance under Trump compared to Obama's last two years?

 

[theDoctorisIn]

For eight years under Obama, I was told that the unemployment rate was meaningless as it dropped from the heights it reached during Bush's tenure.

I was told the only important measure was the employment/population ratio - the participation rate.

How's that doing?

 

[Darkwind]

2.3% and that will likely be revised downward. 2.3% growth sucks ass.

How about the 17-year-low U-6 unemployment rate? How about the 18-year-low U-3 unemployment rate (the official rate)? How about the historic jump in manufacturing jobs? How about the fact that the stock market has doubled its performance under Trump compared to Obama's last two years?

Yeah, all that is great. Just remember, the Stock Market is NOT the economy.

2.3% growth sucks ass.

 

[Weatherman2020]

But the tax cuts were to kill eleventy bazillion Americans.

 

[CrusaderFrank]

The U-6 unemployment rate--aka "the real unemployment rate," the rate that even Bernie Sanders says gives us a better picture of the employment picture--dropped to 7.8% in April. This is a 17-YEAR LOW. The last time the U-6 was at 7.8% was in July 2001! Better yet, since President Trump came to office, the U-6 rate has dropped by a whopping 17%, from 9.4% in January 2017 to 7.8% last month.

U6 Unemployment Rate | Portal Seven

Also, GDP growth in the Q1 (first quarter) of 2018 is markedly exceeding most experts' predictions. Q1 GDP growth was 11% higher than most experts had predicted. Economists polled by Reuters estimated that 1Q GDP growth would be 2.0%, but it was 2.3%.

Finally, allow me to repeat a fact that I noted in a recent thread: April saw another huge, historic jump in manufacturing jobs with 24,000 new manufacturing jobs created. The four highest jumps in manufacturing jobs have all occurred since Donald Trump was elected, and three of them have occurred since he took the oath of office.

https://www.bls.gov/news.release/pdf/empsit.pdf

Investor's Business Daily noted four week ago:

Trump said on Thursday that "the cutting of regulations could have had the same or even a bigger impact on our economy." That's no exaggeration. In Obama's last year, the number of factory jobs shrank by 16,000. Since Trump entered office and began cutting taxes and slashing regulations, 281,000 new manufacturing jobs have been created. (Trump's Deregulation Binge Shows No Signs Of Ending | Investor's Business Daily)​

With April's data now in, the number of new manufacturing jobs under Trump now stands at 305,000.

The Balance notes that manufacturing jobs are a key economic indicator:

Pay close attention to how many manufacturing jobs are added or lost each month. This is a significant leading economic indicator. Factories add workers as soon as they receive a large enough order. It could take months or even years before the order ships and shows up in economic output. Manufacturing is a better indicator of recession than the service sector, whose job levels remain consistent through the boom-and-bust cycle. (Where the 164,000 Jobs Were Added in April)​

Thanks, Obama.

Nah only fucking with you. Obama's economy was powered by the twin engines of Food Stamps and Unemployment checks

 

[Weatherman2020]

For eight years under Obama, I was told that the unemployment rate was meaningless as it dropped from the heights it reached during Bush's tenure.

I was told the only important measure was the employment/population ratio - the participation rate.

How's that doing?

U6 is the real UR

 

[rightwinger]

The U-6 unemployment rate--aka "the real unemployment rate," the rate that even Bernie Sanders says gives us a better picture of the employment picture--dropped to 7.8% in April. This is a 17-YEAR LOW. The last time the U-6 was at 7.8% was in July 2001! Better yet, since President Trump came to office, the U-6 rate has dropped by a whopping 17%, from 9.4% in January 2017 to 7.8% last month.

U6 Unemployment Rate | Portal Seven

Also, GDP growth in the Q1 (first quarter) of 2018 is markedly exceeding most experts' predictions. Q1 GDP growth was 11% higher than most experts had predicted. Economists polled by Reuters estimated that 1Q GDP growth would be 2.0%, but it was 2.3%.

Finally, allow me to repeat a fact that I noted in a recent thread: April saw another huge, historic jump in manufacturing jobs with 24,000 new manufacturing jobs created. The four highest jumps in manufacturing jobs have all occurred since Donald Trump was elected, and three of them have occurred since he took the oath of office.

https://www.bls.gov/news.release/pdf/empsit.pdf

Investor's Business Daily noted four week ago:

Trump said on Thursday that "the cutting of regulations could have had the same or even a bigger impact on our economy." That's no exaggeration. In Obama's last year, the number of factory jobs shrank by 16,000. Since Trump entered office and began cutting taxes and slashing regulations, 281,000 new manufacturing jobs have been created. (Trump's Deregulation Binge Shows No Signs Of Ending | Investor's Business Daily)​

With April's data now in, the number of new manufacturing jobs under Trump now stands at 305,000.

The Balance notes that manufacturing jobs are a key economic indicator:

Pay close attention to how many manufacturing jobs are added or lost each month. This is a significant leading economic indicator. Factories add workers as soon as they receive a large enough order. It could take months or even years before the order ships and shows up in economic output. Manufacturing is a better indicator of recession than the service sector, whose job levels remain consistent through the boom-and-bust cycle. (Where the 164,000 Jobs Were Added in April)​

Fake news

Real unemployment is 172 million

 

[Blarg1862]

Thanks Obama!

 

[rightwinger]

Labor participation is at an all time low

That is the only number that matters

 

[SassyIrishLass]

Labor participation is at an all time low

No it's not, dumb fuck

 

[IsaacNewton]

Thanks California!

CA's economy has become the 5th largest in the world.

 

[SassyIrishLass]

Thanks California!

CA's economy has become the 5th largest in the world.

Except they are around one trillion in unfunded debt...and doing nothing to address it

 

[IsaacNewton]

Thanks California!

CA's economy has become the 5th largest in the world.

Except they are around one trillion in unfunded debt...and doing nothing to address it

The US has $21 Trillion in unfunded debt and Republicans are spending money like a teenage girl at the mall with daddy's credit card.

 

[SassyIrishLass]

Thanks California!

CA's economy has become the 5th largest in the world.

Except they are around one trillion in unfunded debt...and doing nothing to address it

The US has $21 Trillion in unfunded debt and Republicans are spending money like a teenage girl at the mall with daddy's credit card.

So Cali has it's debt and owes part of the US debt also...disaster ...and you're clueless on economics

 

[rightwinger]

Labor participation is at an all time low

No it's not, dumb fuck

Worst ever

 

[Timmy]

2.3% and that will likely be revised downward. 2.3% growth sucks ass.

How about the 17-year-low U-6 unemployment rate? How about the 18-year-low U-3 unemployment rate (the official rate)? How about the historic jump in manufacturing jobs? How about the fact that the stock market has doubled its performance under Trump compared to Obama's last two years?

Those numbers are lies . Trump said so.

 

[SassyIrishLass]

Labor participation is at an all time low

No it's not, dumb fuck

Worst ever

Lying only means you're lying...Sept 2016 it was 62.7, Sept 2015 it was 62.3 (before 2000 it was in the 50's some years) today it is 62.8.

Nice lie but you lose.

Civilian Labor Force Participation Rate

 

[mikegriffith1]

For eight years under Obama, I was told that the unemployment rate was meaningless as it dropped from the heights it reached during Bush's tenure.

I was told the only important measure was the employment/population ratio - the participation rate.

How's that doing?

This is just getting silly. Of course the official unemployment rate (the U-3) matters, but the U-6 unemployment rate, even according to Bernie Sanders, gives us a more complete picture of the employment situation. During the Obama years, the U-6 stayed unusually high. Under Trump, it has already dropped by a whopping 17%.

I can clearly recall pointing out the difference between the U-6 and the U-3 many times when you folks would chatter on and on about the U-3 rate during the Obama years. Perhaps that what you're thinking of.