Unemployment down to 3.9%

[Harpy Eagle]

So, by just looking at the chart from the BLS without the dates on the bottom, could anyone tell when one Admin ended and the next started?

 

[rightwinger]

164,000 new burger flipping jobs is nothing to brag about

As opposed to what?

-Geaux

As opposed to the 13 million real jobs created by the Great Obama

Obama created jobs for Rocket Scientists, Doctors, Engineers, Accountants, Teachers, Cops

Fat Donnie only creates burger flipping jobs

 

[pinqy]

Even the Fed has stopped using it as THE metric for employment.

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.[/QUOTE]

 

[Harpy Eagle]

So Sad!!!

So now it doesn’t matter? Cause under obama the unemployment rate went down, but it was really the participation rate that mattered. Hypocrisy is funny.

even using the same calculation methods, Trump's numbers are better.

remember how bad things were this time during the Obama term? its was total depression in 2010.

Obama was handed 2 wars, a recession, a housing bubble, auto industry was about to collapse... Trump was handed a strong economy and declining deficits. So far he's messed up one of the two.

Obama allowed two stupid wars to continue and did nothing but pansy around with murdering dictators, he sent pallets of cash to the Iranians and got nothing in return. There was no recession in 08, it was a simple market correction that was way overdue. Obozo bailed out the car companies in order to save the UAW and keep its money coming in to the DNC. Obama doubled the national debt. WTF is wrong with you? Did you spend the last 8 years under a rock?

Now you are just spreading false information.

A recession is two consecutive quarters of negative economic growth as measured by GDP. There were 3 in 2008/09 and if not for an odd bump in 2nd Qtr of 08 there would have been 5 consecutive quarters.

 

[Redfish]

So now it doesn’t matter? Cause under obama the unemployment rate went down, but it was really the participation rate that mattered. Hypocrisy is funny.

even using the same calculation methods, Trump's numbers are better.

remember how bad things were this time during the Obama term? its was total depression in 2010.

Obama was handed 2 wars, a recession, a housing bubble, auto industry was about to collapse... Trump was handed a strong economy and declining deficits. So far he's messed up one of the two.

Obama allowed two stupid wars to continue and did nothing but pansy around with murdering dictators, he sent pallets of cash to the Iranians and got nothing in return. There was no recession in 08, it was a simple market correction that was way overdue. Obozo bailed out the car companies in order to save the UAW and keep its money coming in to the DNC. Obama doubled the national debt. WTF is wrong with you? Did you spend the last 8 years under a rock?

 

[Redfish]

So now it doesn’t matter? Cause under obama the unemployment rate went down, but it was really the participation rate that mattered. Hypocrisy is funny.

even using the same calculation methods, Trump's numbers are better.

remember how bad things were this time during the Obama term? its was total depression in 2010.

Obama was handed 2 wars, a recession, a housing bubble, auto industry was about to collapse... Trump was handed a strong economy and declining deficits. So far he's messed up one of the two.

Obama allowed two stupid wars to continue and did nothing but pansy around with murdering dictators, he sent pallets of cash to the Iranians and got nothing in return. There was no recession in 08, it was a simple market correction that was way overdue. Obozo bailed out the car companies in order to save the UAW and keep its money coming in to the DNC. Obama doubled the national debt. WTF is wrong with you? Did you spend the last 8 years under a rock?

Now you are just spreading false information.

A recession is two consecutive quarters of negative economic growth as measured by GDP. There were 3 in 2008/09 and if not for an odd bump in 2nd Qtr of 08 there would have been 5 consecutive quarters.

make up whatever definition fits your narrative, I don't care. What I know is that 08 was a great time to be a buyer in the market. I made a lot of money during those years and so did anyone with a properly managed 401K or investment portfolio.

the so-called depression was a creation of the obozo admin and their stooges in the media. Buy into it if you like, but its bullshit.

 

[Care4all]

wage stagnation continues.... normally, wages would rise with low unemployment... but we no longer compete with only our own labor force...labor is world wide now.... and maybe this is why wages are not rising well above the cost of living rate?

 

[Redfish]

wage stagnation continues.... normally, wages would rise with low unemployment... but we no longer compete with only our own labor force...labor is world wide now.... and maybe this is why wages are not rising well above the cost of living rate?

'
that may be true for you, but for the rest of America wages are rising, when there are more jobs, employers have to compete for employees and that makes wages go up. What you may be seeing is the result of illegals in the workforce working for less than americans will work for.

 

[Harpy Eagle]

make up whatever definition fits your narrative, I don't care. What I know is that 08 was a great time to be a buyer in the market. I made a lot of money during those years and so did anyone with a properly managed 401K or investment portfolio.

the so-called depression was a creation of the obozo admin and their stooges in the media. Buy into it if you like, but its bullshit.

It is not my definition moron.

It started before the election of 2008 and we were heading out of it before Obama even won the election. But in your fucked up partisan world Obama created it.

Could you be any more stupid if you tried?

I bet you think that there are aliens at Area 51 and that Elvis is still alive.

 

[rightwinger]

Even the Fed has stopped using it as THE metric for employment.

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.

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

 

[Redfish]

make up whatever definition fits your narrative, I don't care. What I know is that 08 was a great time to be a buyer in the market. I made a lot of money during those years and so did anyone with a properly managed 401K or investment portfolio.

the so-called depression was a creation of the obozo admin and their stooges in the media. Buy into it if you like, but its bullshit.

It is not my definition moron.

It started before the election of 2008 and we were heading out of it before Obama even won the election. But in your fucked up partisan world Obama created it.

Could you be any more stupid if you tried?

I bet you think that there are aliens at Area 51 and that Elvis is still alive.

no aliens and Elvis is buried at Graceland. In this country you are free to believe whatever BS you choose and to spout it out on a daily basis. I lived through those years, I know what I experienced and what my family and friends experienced. It was not a bad time.

What is also true is that presidents get credit or blame for whatever happens during their terms regardless of what happened before or after.

Obama was a terrible president, nothing you say or post will ever change that.

 

[McRocket]

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.

 

[McRocket]

Even the Fed has stopped using it as THE metric for employment.

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[/QUOTE]


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).

 

[Harpy Eagle]

no aliens and Elvis is buried at Graceland. In this country you are free to believe whatever BS you choose and to spout it out on a daily basis. I lived through those years, I know what I experienced and what my family and friends experienced. It was not a bad time.

You really cannot be this stupid, can you? So, because it was good for you personally that means it was not bad for anyone else?

I lived through it also, I had the bad luck of dropping my retirement papers from the Corps before shit went south and then had the misfortune of job hunting during the heart of the recession. And it was not a good time for anyone looking for a job.

What is also true is that presidents get credit or blame for whatever happens during their terms regardless of what happened before or after.

Yet you just gave blame to Obama for something that started under Bush II. Seems that party is how you assign blame, not when it happened.

Obama was a terrible president, nothing you say or post will ever change that.

Oh, I agree 100%. Didnt vote for him, didn't support him, have never said he was anything but a terrible president.

 

[JakeStarkey]

Aw, come on: I know the truth irks you, Dschrute3. I have been pleased with the economy since 2016. It's running fine until the unwise GOP policies once again bust it. And, once again, I will be in position to do well because of GOP greed. The election, though, is a referendum on Trump and GOP foolish.

bullshit

The blue surge is not because of a good economy, Redfish: you know that. It is that Donald is crazy and the GOP absolutely messed up because it control the squeals in the Alt Right and the Freedom Caucus. Watch what happens to the far right and alt right squeals in the fall this year in the elections.

there is no blue surge, jakey boy (or rightwinger, or whoever you are today). the GOP will retain control of congress and Trump will continue to win for America. Sorry, dude, the hildebeast lost, she is nothing but a corrupt stain on history and will never be anything else.

I love reading your foolish nonsense. November elections are going to be so much fun for good American and so terrible for you and bad America. Redfish et al do not care about America, only about power for their ilk.

 

[rightwinger]

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

 

[rightwinger]

Even the Fed has stopped using it as THE metric for employment.

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

 

[JakeStarkey]

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.

 

[Imissbush]

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

 

[Care4all]

wage stagnation continues.... normally, wages would rise with low unemployment... but we no longer compete with only our own labor force...labor is world wide now.... and maybe this is why wages are not rising well above the cost of living rate?

'
that may be true for you, but for the rest of America wages are rising, when there are more jobs, employers have to compete for employees and that makes wages go up. What you may be seeing is the result of illegals in the workforce working for less than americans will work for.

no, what I am seeing as example is: if the inflation rate is 2.0% and wages rise by 2.1%, there really is NOT a rise in wages and disposable income.