Unemployment down to 3.9%

[McRocket]

Untrue. The Fed stopped setting unemployment goals, but the U-3 is still the rate they use.

WRONG

“We’re not going to look at any single indicator like the unemployment rate to assess how we’re doing on meeting our employment goal,” Yellen said in June. “We will look at a broad range of indicators.”

How the Fed Learned to Stop Worrying About the Unemployment Rate

In other words...The U-3 stinks. We used to use it as THE employment data point. Not anymore as we realize it sucks. So we use it along with other data that we trust more.

Chair Yellen's actual remarks from the 14 March 2014 press conference were "Now, the Committee has never felt that the unemployment rate is a sufficient statistic for the labor market. I think if I had to choose one indicator of the labor market, the unemployment rate is probably as good a one as I could find. But in assessing the real state of slack in the labor market and ultimately of inflationary pressures that might—or deflationary pressures that could result from that—it’s appropriate to look at many more things. And that’s why the Committee now states we will look at a broad range of information. So the closer we get as we narrow in on
coming closer to the target we want to achieve, we will be carefully considering many indicators of how close are we to our targets."
Does anyone else interpret that as saying the U-3 sucks and there are other data they trust more?

Of course no single measure could give the full picture of the labor market. And the Phillips Curve was an oversimplification proven to be off back in the 70's. But the U-3 measures what it is supposed to measure, it does it well, and is the best single measure of the labor market. But any single measure cannot tell the whole story.

And just one more for the road...as I KNOW you hate this...the BLS deliberately misrepresents data to the American people to make it look better than it really is.

Actually, the part I hate is that he says this, but never tries to actually back it up. I know Mr.Rocket from another message board, and given his history of personal insults, putting people on and off ignore so he doesn't have to deal with actual discussion, I'm wondering how long before he gets banned from here.

It seems Yellen is saying you need to look at several indicators to get the big picture

Yup.

Whereas just a few years ago...the Fed used the U-3 as THE only unemployment number that mattered.

Even the Fed has realized what a joke the U-3 is (finally).

Then why do they publish all the numbers?[/QUOTE]

Who? The BLS?

 

[Dschrute3]

Boy, rough day for Democrats and their Fake Newsters. How they gonna spin this great news for America? Trump's on a roll. It's gotta sting.


US jobs report: Unemployment falls to 3.9%

Job growth accelerated in April, cutting the nation's jobless rate as U.S. employers added 164,000 jobs compared to the revised 135,000 in March.

While cold weather in March and April probably held back job growth, hiring is moderating as the labor market hits full employment.

The drop of two-tenths of a percentage point in the unemployment rate from 4.1 percent in March pushed it to a level last seen in December 2000.

For the April report, the unemployment rate came in at 3.9%, down from the prior month’s 4.1%, lower than expectations.

US jobs report: Unemployment falls to 3.9%
DRUDGE REPORT 2018®

Don't you know that all good unemployment reports under Trump will end up in the rubber room here as the democrats running this nuthouse will not allow this?

PS. Then Nancy Pelosi will tell us that there are really five hundred million unemployed Americans, with a straight face

 

[Norman]

For the first time in decades.The media is exploding with anger as usual. Why? Besides the fact that they hate America, it's because Trump has won again. As we know, according to them the whole world was supposed to fall to depression if Trump won. Instead, the unemployment rate of blacks fell to never before seen lows.

U.S. Jobless Rate Falls Below 4% For First Time Since Late 2000

As such, it's no surprise that the shills are lining up to tell us why this is bad, bad news.

 

[Dschrute3]

and now thanks to Trump,,we have more job openings than people looking,,,,McDonalds is so desperate, they may have to hire Monkeys and Goats

He has achieved near to Full Employment for the country. It's amazing.

 

[Dschrute3]

Boy, rough day for Democrats and their Fake Newsters. How they gonna spin this great news for America? Trump's on a roll. It's gotta sting.


US jobs report: Unemployment falls to 3.9%

Job growth accelerated in April, cutting the nation's jobless rate as U.S. employers added 164,000 jobs compared to the revised 135,000 in March.

While cold weather in March and April probably held back job growth, hiring is moderating as the labor market hits full employment.

The drop of two-tenths of a percentage point in the unemployment rate from 4.1 percent in March pushed it to a level last seen in December 2000.

For the April report, the unemployment rate came in at 3.9%, down from the prior month’s 4.1%, lower than expectations.

US jobs report: Unemployment falls to 3.9%
DRUDGE REPORT 2018®

Perfect for paying down the debt, how is that going?

Different issue.

 

[Moonglow]

UE in NW Arkansas has been below 3% for two years now.

 

[Dschrute3]

Boy, rough day for Democrats and their Fake Newsters. How they gonna spin this great news for America? Trump's on a roll. It's gotta sting.

Except Trump aint responsible, Pres. Obama is. Trump still hasn't accomplished anything, other than making billionaires richer. He relies on poor, dumb rubes like yourself to keep these billionaires richer than they've ever been

That what CNN and NBC told ya? They lie. Movin on...

 

[Timmy]

Because then employment numbers are a lie. That’s what candidate Trump told me .

 

[Dschrute3]

No one has denied that the Obama economy, which Trump is riding, is good.

Trump is the election focus, no matter how much the GOP will try to sell differently.

The American electorate is now wise to the GOP/Alt Right Fake Alt Right Media (FARM) propaganda.

Aw, come on. That's just the irrational butthurt talkin. This is great news for the country.

Saying that the economic times are good, although they were better in Obama's last two years, is economic butt hurt only in the minds of the far right butt hurt.

Near to, or at Full Employment is good enough for me. It's an awesome achievement. Good on Trump.

 

[rightwinger]

WRONG

“We’re not going to look at any single indicator like the unemployment rate to assess how we’re doing on meeting our employment goal,” Yellen said in June. “We will look at a broad range of indicators.”

How the Fed Learned to Stop Worrying About the Unemployment Rate

In other words...The U-3 stinks. We used to use it as THE employment data point. Not anymore as we realize it sucks. So we use it along with other data that we trust more.

Chair Yellen's actual remarks from the 14 March 2014 press conference were "Now, the Committee has never felt that the unemployment rate is a sufficient statistic for the labor market. I think if I had to choose one indicator of the labor market, the unemployment rate is probably as good a one as I could find. But in assessing the real state of slack in the labor market and ultimately of inflationary pressures that might—or deflationary pressures that could result from that—it’s appropriate to look at many more things. And that’s why the Committee now states we will look at a broad range of information. So the closer we get as we narrow in on
coming closer to the target we want to achieve, we will be carefully considering many indicators of how close are we to our targets."
Does anyone else interpret that as saying the U-3 sucks and there are other data they trust more?

Of course no single measure could give the full picture of the labor market. And the Phillips Curve was an oversimplification proven to be off back in the 70's. But the U-3 measures what it is supposed to measure, it does it well, and is the best single measure of the labor market. But any single measure cannot tell the whole story.

And just one more for the road...as I KNOW you hate this...the BLS deliberately misrepresents data to the American people to make it look better than it really is.

Actually, the part I hate is that he says this, but never tries to actually back it up. I know Mr.Rocket from another message board, and given his history of personal insults, putting people on and off ignore so he doesn't have to deal with actual discussion, I'm wondering how long before he gets banned from here.

It seems Yellen is saying you need to look at several indicators to get the big picture

Yup.

Whereas just a few years ago...the Fed used the U-3 as THE only unemployment number that mattered.

Even the Fed has realized what a joke the U-3 is (finally).

Then why do they publish all the numbers?

Who? The BLS?[/QUOTE]
Who else?

 

[airplanemechanic]

BTW, that 164,000 headline number is a COMPLETE JOKE.

Why?

Because of the creative math the Fed used on the Establishment Survey called the 'Birth/Death Model'. This latest attempt by the government to distort the numbers to make them look better is based on the fact that the BLS does not know how many companies were born and how many died. So they guess. They use some sort of nonsensical mathematical model...but the bottom line is they guess.

And last month...they guessed to the tune of 260 thousand jobs. So that means they guesses that there were 260,000 more jobs created by new businesses then there were jobs lost to dying businesses. And that pathetic guess is added to the number.

CES Net Birth/Death Model

Let me ask liberals on this forum this question:

Had the unemployment rate gone UP to say....6 percent.....would ya'll still be on here saying its a useless measure and that it doesn't indicate anything?

Me thinks not.

I used to accept U3 as an appropriate measure of unemployment

But Republicans have convinced me that it is a made up number by corrupt Deep Staters

The REAL number of unemployed is 172 million or 52 percent.

Don't let pinqy see this...he will freak.

I, like you, used to accept the U-3 as fact.

But now, like you, I realize that it is a joke. Set up to make the unemployment situation look much better than it really is. Easier to keep the masses quiet that way.

True

172 million are unemployed under Trump

Liberals are so desperate now they're counting babies.

 

[Dschrute3]

Boy, rough day for Democrats and their Fake Newsters. How they gonna spin this great news for America? Trump's on a roll. It's gotta sting.


US jobs report: Unemployment falls to 3.9%

Job growth accelerated in April, cutting the nation's jobless rate as U.S. employers added 164,000 jobs compared to the revised 135,000 in March.

While cold weather in March and April probably held back job growth, hiring is moderating as the labor market hits full employment.

The drop of two-tenths of a percentage point in the unemployment rate from 4.1 percent in March pushed it to a level last seen in December 2000.

For the April report, the unemployment rate came in at 3.9%, down from the prior month’s 4.1%, lower than expectations.

US jobs report: Unemployment falls to 3.9%
DRUDGE REPORT 2018®

So Obamanomics works! Thanks Obama. Trump is always taking credit for what others do

Uh yeah, Hussein isn't the President anymore. Y'all hater wingnuts gotta accept that and move on. Ya sound deranged.

 

[Moonglow]

Because then employment numbers are a lie. That’s what candidate Trump told me .

Oh I forgot that the same numbers coming from the states to make the national UE rate were faked during Oblama, yes how stupid of me to forget how stupid republicans are.

 

[frigidweirdo]

For the first time in decades.The media is exploding with anger as usual. Why? Besides the fact that they hate America, it's because Trump has won again. As we know, according to them the whole world was supposed to fall to depression if Trump won. Instead, the unemployment rate of blacks fell to never before seen lows.

U.S. Jobless Rate Falls Below 4% For First Time Since Late 2000

As such, it's no surprise that the shills are lining up to tell us why this is bad, bad news.

Well, do you know about boom and bust?

You know who loses out big time in the bust periods? 7 million Americans lost their homes in the last bust, while Warren Buffett made something like $10 billion.

Is this a good thing? It's good people have jobs, it would be better if this were a permanent thing, rather than temporary.

The worst is that Trump is taking credit for something that was almost certain to happen no matter who was the president.

 

[Harpy Eagle]

and now thanks to Trump,,we have more job openings than people looking,,,,McDonalds is so desperate, they may have to hire Monkeys and Goats

He has achieved near to Full Employment for the country. It's amazing.

Can you tell on here where Trump's term began?

 

[Moonglow]

Boy, rough day for Democrats and their Fake Newsters. How they gonna spin this great news for America? Trump's on a roll. It's gotta sting.


US jobs report: Unemployment falls to 3.9%

Job growth accelerated in April, cutting the nation's jobless rate as U.S. employers added 164,000 jobs compared to the revised 135,000 in March.

While cold weather in March and April probably held back job growth, hiring is moderating as the labor market hits full employment.

The drop of two-tenths of a percentage point in the unemployment rate from 4.1 percent in March pushed it to a level last seen in December 2000.

For the April report, the unemployment rate came in at 3.9%, down from the prior month’s 4.1%, lower than expectations.

US jobs report: Unemployment falls to 3.9%
DRUDGE REPORT 2018®

UE rate in NW Arkansas was 2.9% in 2016..

 

[McRocket]

Chair Yellen's actual remarks from the 14 March 2014 press conference were "Now, the Committee has never felt that the unemployment rate is a sufficient statistic for the labor market. I think if I had to choose one indicator of the labor market, the unemployment rate is probably as good a one as I could find. But in assessing the real state of slack in the labor market and ultimately of inflationary pressures that might—or deflationary pressures that could result from that—it’s appropriate to look at many more things. And that’s why the Committee now states we will look at a broad range of information. So the closer we get as we narrow in on
coming closer to the target we want to achieve, we will be carefully considering many indicators of how close are we to our targets."
Does anyone else interpret that as saying the U-3 sucks and there are other data they trust more?

Of course no single measure could give the full picture of the labor market. And the Phillips Curve was an oversimplification proven to be off back in the 70's. But the U-3 measures what it is supposed to measure, it does it well, and is the best single measure of the labor market. But any single measure cannot tell the whole story.


Actually, the part I hate is that he says this, but never tries to actually back it up. I know Mr.Rocket from another message board, and given his history of personal insults, putting people on and off ignore so he doesn't have to deal with actual discussion, I'm wondering how long before he gets banned from here.

It seems Yellen is saying you need to look at several indicators to get the big picture

Yup.

Whereas just a few years ago...the Fed used the U-3 as THE only unemployment number that mattered.

Even the Fed has realized what a joke the U-3 is (finally).

Then why do they publish all the numbers?

Who? The BLS?

Who else?[/QUOTE]

I did not know if you meant them or the Fed...which is who I was referring to.

How should I know why they post all the other stats? Ask pinqy. He claims to have worked there.


Though I am glad they do...at least it gives us a chance to ascertain the actual employment situation.

As I typed above, I basically ignore the U-3 and concentrate on the Employment-Population Ratio and - to a lesser extent - the U-6.

 

[Harpy Eagle]

For the first time in decades.The media is exploding with anger as usual. Why? Besides the fact that they hate America, it's because Trump has won again. As we know, according to them the whole world was supposed to fall to depression if Trump won. Instead, the unemployment rate of blacks fell to never before seen lows.

U.S. Jobless Rate Falls Below 4% For First Time Since Late 2000

As such, it's no surprise that the shills are lining up to tell us why this is bad, bad news.

It is a good thing...the continuation of a trend for the last few years.

Looking at this chart, can you determine where one admin ended and the next began?

 

[expat_panama]

.. Obama was handed a 10.8% in 2009...

Seems a lot like we're just not on the same page here. When most folks talk about the "unemployment rate" we all mean the 'headline rate' from bls.gov. Right now they got 7.8% for Jan 2009 and it kept going up till October - - long after that "summer of recovery" where iirc it peaked at 10%...

 

[Dschrute3]

and now thanks to Trump,,we have more job openings than people looking,,,,McDonalds is so desperate, they may have to hire Monkeys and Goats

He has achieved near to Full Employment for the country. It's amazing.

Can you tell on here where Trump's term began?

Sorry near to or at Full Employment isn't good enough for y'all haters. But it is for rational common sense-thinking folks.