Unemployment rate drops to 3.8%

[edthecynic]

Where did stimulus money really go?
Rather than helping out those in the toughest shape, it looks like Democrats ended up helping their supporters, including unions and many very wealthy supporters.

According to the Obama administration’s Recovery.gov, a total of $504 billion of federal contracts, grants, and loans to states and territories were awarded between February 17, 2009, and December 31, 2011. The amounts vary a lot across states, with the very lowest at $978 per capita in Virginia and the highest at $2,495 per capita in Alaska. The District of Columbia is the real winner at a whopping $7,603.

And the other 300+ billion went to TAX CUTS.

BTW the money was allotted to the GOVERNORS of each state, and it was the 31 MAJORITY REPUBLICAN governors who chose not to use the money on creating jobs to make Obama a one term president. They put the money to paying down their debt.

 

[Rosy]

/----/ Page 8: A striking implication of these estimates is that 95 percent of the net employment growth in the U.S. economy from 2005 to 2015 appears to have occurred in alternative work arrangements. Total employment according to the CPS increased by 9.0 million (6.4 percent) over the decade, from 140.4 million in February 2005 to 149.4 in November 2015.13 The increase in the share of workers in alternative work arrangements from 10.7 percent in 2005 to 15.8 percent in 2015 implies that the number of workers employed in alternative arrangement increased by 8.6 million (57.2 percent), from 15.0 million in February 2005 to 23.6 million in November 2015. Thus, these figures imply that employment in traditional jobs (standard employment arrangements) rose by only 0.4 million (0.4 percent) from 125.4 million in February 2005 to 125.8 million in November 2015.

Holyfuckingshit!!

You're even more rightarded than you appeared earlier. I knew you couldn't find it because it's not in there. investing.com made it up. You'll note, the actual study says nothing about Obama towards that 95%.

Why...?

Because.....

Barrack Hussein Obama... Serving as the 44th president president from 2009 to 2017.

From the study ... A striking implication of these estimates is that 95 percent of the net employment growth in the U.S. economy from 2005 to 2015

Roughly 1/3 of that study was of the Bush years. You know, when Obama wasn't president. And only went until 2015, leaving out more than a year of Obama's presidency.

So yeah, if you saddle the numbers with Bush's pathetic performance on jobs (worst since Herbert Hoover) and you exclude about 15% of Obama's actual time in office, and you don't actually want to discuss part time workers (even though that's what's being discussed) than sure, an abject moron can idiotically claim, "A new study by economists from Harvard and Princeton indicates that 94% of the 10 million new jobs created during the Obama era were temporary positions."

Wrong kid, the only thing Obooba did was hand out 900 billion dollars in stimulus. Thus any appeared improvement was government sponsored, or communism. Trump is creating real jobs as companies expand

Yawning

LOLOL

Wrong? Moi?

The study was from 2005-2015.

Obama was president from 2009-2017.

On which of those am I wrong?

If the economy expanded under Obooba, why did he have to hand out 900 billion dollars to prop up the economy?

To avert a depression.

Agreed, but don't say that the economy expanded because handing out money to keep things moving is just not expansion

 

[Faun]

who put pressure on banks to lend to low income neighborhoods.

Bush that's who, and it wasn'y the CRA it was his ADDI.
Bush's Dec 2003 American Dream Downpayment Initiative (ADDI) is what changed the rules to allow no downpayment loans to people with bad credit for more than the house was worth and who were at least 20% below the standard of living for the neighborhood they were buying into.

BUSH: I set an ambitious goal. It's one that I believe we can achieve. It's a clear goal, that by the end of this decade we'll increase the number of minority homeowners by at least 5.5 million families. (Applause.)

/-----/ BOOOOOOOOSH Bill Clinton turned the 1977 Community Reinvestment Act into an aggressive program that basically forced banks to lend money to "underserved" communities. That meant those with low incomes who couldn't necessarily repay a loan.
Sorry, Hillary, You And Bill — Not Tax Cuts — Caused The Financial Crisis | Stock News & Stock Market Analysis - IBD

FRB: FEDS Notes: Assessing the Community Reinvestment Act's Role in the Financial Crisis

First, Bhutta and Canner (2009) analyze 2005–2006 mortgage origination data from the Home Mortgage Disclosure Act (HMDA) and find that just 6 percent of all higher-priced loans (a proxy for subprime loans) were "CRA-related"--that is, were originated by depositories to either lower-income borrowers or lower-income neighborhoods in the banks' CRA assessment areas. The small share of subprime lending in 2005 and 2006 that can be traced to the CRA suggests that the CRA is unlikely to have played a substantial role in the subprime crisis.

Conclusion
The CRA provides an incentive structure that could plausibly have motivated banks to originate or purchase loans they would have otherwise considered too risky. However, empirical research indicates that CRA-related loans were a small fraction of the subprime market during the mortgage boom. The literature estimating the effect of the CRA finds small increases in originations--if any at all--and effects on delinquencies that are small or even negative. While we do not have a good estimate of the net costs or benefits of the act, the current best evidence suggests that the CRA was not a significant contributor to the financial crisis.

 

[Faun]

Trump has already improved the numbers more than Obama during his whole term.

Not bad, that's a real president right there. No fake...

WTF are you smoking?

The unemployment rate fell from 7.8% to 4.8% (a 3 point, 38% decrease) under Obama

The unemployment rate fell from 4.8% to 3.8% (a 1 point, 21% decrease) under Trump

I don't know where you learned math, but in no universe is 21% greater than 38%.

Did you notice the word "TERM".

Do you know the difference between TERM and two TERMS?

You are lecturing me, a math major for not knowing mathematics, when you can't differentiate between one and two? Idiot...

I see, so you want to compare the recession Obama was handed with the good economy Trump was handed, to say look, Trump is doing better.

 

[bendog]

so much of job creation is really out of the hands of a president that it's just hyperpartisan to put much into this. Putting monetarists rather than Keynesians into the Fed was bipartisan, though Ted Kennedy bitterly opposed it. The bailouts to prevent deflation in the great recession was bipartisan.

Some exceptions. Nixon set off inflation by putting poltical pressure on the Fed and Arthur Burns. If we actually have protectionist trade wars .... that will be something we havn't seen since the 1920s.

But temporary import quotas on some high tech mftring stuff like steel wouldn't be bad, or new. Bear brought up textiles, trying to take a thread off course, but even Trump appeared to finally notice that TPP had some potential benefit for US textile industries by possibly requiring low tech assembling countries to buy raw US materials.

With unemployment, I remember the late 90s early 2000s when we had first sub6% and then 4% with NO INFLATION. It was great, but I don't think anyone yet really understands how it happened.

It was called a congress that controlled the spending of clinton, it was called no cold war with the USSR for the first time in nearly 50 years, and the internet boom thanks to capitalism.

Go ahead and say it was "CLINTON."

Hilarious.

Clinton had no effect. thank you for your partisanship. LOL

 

[edthecynic]

From page 8: A striking implication of these estimates is that 95 percent of the net employment growth in the U.S. economy from 2005 to 2015 appears to have occurred in alternative work arrangements. Total employment according to the CPS increased by 9.0 million (6.4 percent) over the decade, from 140.4 million in February 2005 to 149.4 in November 2015.13 The increase in the share of workers in alternative work arrangements from 10.7 percent in 2005 to 15.8 percent in 2015 implies that the number of workers employed in alternative arrangement increased by 8.6 million (57.2 percent), from 15.0 million in February 2005 to 23.6 million in November 2015. Thus, these figures imply that employment in traditional jobs (standard employment arrangements) rose by only 0.4 million (0.4 percent) from 125.4 million in February 2005 to 125.8 million in November 2015.

And where exactly does that compare FT jobs to PT jobs??? IT DOESN'T!!!!
It compares ALTERNATE to STANDARD work arrangements!!!

 

[Rosy]

Trump has already improved the numbers more than Obama during his whole term.

Not bad, that's a real president right there. No fake...

WTF are you smoking?

The unemployment rate fell from 7.8% to 4.8% (a 3 point, 38% decrease) under Obama

The unemployment rate fell from 4.8% to 3.8% (a 1 point, 21% decrease) under Trump

I don't know where you learned math, but in no universe is 21% greater than 38%.

Did you notice the word "TERM".

Do you know the difference between TERM and two TERMS?

You are lecturing me, a math major for not knowing mathematics, when you can't differentiate between one and two? Idiot...

I see, so you want to compare the recession Obama was handed with the good economy Trump was handed, to say look, Trump is doing better.

The drug pushers had a great economy under Obama

 

[Norman]

Trump has already improved the numbers more than Obama during his whole term.

Not bad, that's a real president right there. No fake...

WTF are you smoking?

The unemployment rate fell from 7.8% to 4.8% (a 3 point, 38% decrease) under Obama

The unemployment rate fell from 4.8% to 3.8% (a 1 point, 21% decrease) under Trump

I don't know where you learned math, but in no universe is 21% greater than 38%.

Did you notice the word "TERM".

Do you know the difference between TERM and two TERMS?

You are lecturing me, a math major for not knowing mathematics, when you can't differentiate between one and two? Idiot...

I see, so you want to compare the recession Obama was handed with the good economy Trump was handed, to say look, Trump is doing better.

Yes, he is doing better.

 

[Avatar4321]

According to economists a couple years ago, that number should be closer to 38%

That’s got to be it. Trump just put the decimal in the wrong spot

 

[Theowl32]

so much of job creation is really out of the hands of a president that it's just hyperpartisan to put much into this. Putting monetarists rather than Keynesians into the Fed was bipartisan, though Ted Kennedy bitterly opposed it. The bailouts to prevent deflation in the great recession was bipartisan.

Some exceptions. Nixon set off inflation by putting poltical pressure on the Fed and Arthur Burns. If we actually have protectionist trade wars .... that will be something we havn't seen since the 1920s.

But temporary import quotas on some high tech mftring stuff like steel wouldn't be bad, or new. Bear brought up textiles, trying to take a thread off course, but even Trump appeared to finally notice that TPP had some potential benefit for US textile industries by possibly requiring low tech assembling countries to buy raw US materials.

With unemployment, I remember the late 90s early 2000s when we had first sub6% and then 4% with NO INFLATION. It was great, but I don't think anyone yet really understands how it happened.

It was called a congress that controlled the spending of clinton, it was called no cold war with the USSR for the first time in nearly 50 years, and the internet boom thanks to capitalism.

Go ahead and say it was "CLINTON."

Hilarious.

Clinton had no effect. thank you for your partisanship. LOL

Not really. Sorry, that's a fact.

Go ahead and deny the cold war ended and how that benefitd us and the economy here. Tell me what clinton did to end the cold war.

Tell me how the republicans and newt Gingrich did not control congress over clintons last 6 years.

Tell me exactly what clinton did cause the internet and tech stocks happen. Other than allowin capitalism to flourish.

Let us know. We know he started the housing bubble by rewriting Community Reinvestment Act which put pressure on banks to lend to low income neighborhoods.

We also know he signed the Commodity Futures Modernization Act. That exempted credit default swaps from regulation.

Want more facts? Do you have any?

 

[Avatar4321]

If these numbers keep up, Democrats will have a hard time maintaining the seats they already have in November

 

[edthecynic]

Well here are the REAL numbers from the BLS.

Full time jobs Jan 2009, 115,818,000 and Jan 2017, 124,625,000

Part time jobs Jan 2009, 26,377,000 and Jan 2017, 27,363,000.

Looks like about 85% of jobs created under Obama were FULL TIME!!!
Your source, Like ALL CON$ervoFascist sources, are LIARS!!!

Table A-9. Selected employment indicators

/----/ I understand that reading comprehension for Public School educated Libtards is not a priority but the link clearly shows the report is from Harvard and Princeton University. Investing.com merely reported it. Please don't be sad and run off to your safe place. Next time you'll know better. Now ask Mommy for a cookie.
Investing.com -- A new study by economists from Harvard and Princeton indicates that 94% of the 10 million new jobs created during the Obama era were temporary positions.

I posted the REAL numbers directly from the source with a link to the BLS. Your link gave no link to the source of the fake numbers and did not even NAME the source of the numbers they fabricated.

I know you prefer a FACTLESS source that supports your lies rather than actual numbers directly from the BLS that tell the truth when the truth contradicts your lies.

There were 8,807,000 FT jobs created and 986,000 PT jobs for a total of 9,793,000 jobs. That means 89.9% of the nearly 10 million jobs created were FT.

Prove the numbers from the BLS wrong with real numbers from a named source.

Since you are probably too STUPID to figure out how to use the other link I provided, I am posting links to each type of job separately.

Full time jobs:
Bureau of Labor Statistics Data

Part time jobs:
Bureau of Labor Statistics Data

/----/ The link was posted in #87. Geeeze your reading and comprehension skills are worse than I thought. Now show me what numbers were made up by Harvard and Princeton who are not known for being COnservative Trump supporters.
Nearly 95% of all new jobs during Obama era were part-time, or contract

Of course since YOU can't read, you project it on me.
Please post the exact quote from your link where they cite the SOURCE of their fake numbers. They obviously didn't come from the BLS!!! I've proven that!!!!!
They simply say "a new study" but give no source of the numbers the fake study used.

The study is not fake.

investing.com's spin on the study is what's fake.

Meant to deceive brain-dead rightards who are easily duped and will obediently spread the bullshit in their fake article.

Your link is not the same study, but it does tell us that the authors were working for the Far Right Rand Think Tank and NOT Harvard and Princeton, so you exposed another blockhead's lies.

 

[Faun]

From page 8: A striking implication of these estimates is that 95 percent of the net employment growth in the U.S. economy from 2005 to 2015 appears to have occurred in alternative work arrangements. Total employment according to the CPS increased by 9.0 million (6.4 percent) over the decade, from 140.4 million in February 2005 to 149.4 in November 2015.13 The increase in the share of workers in alternative work arrangements from 10.7 percent in 2005 to 15.8 percent in 2015 implies that the number of workers employed in alternative arrangement increased by 8.6 million (57.2 percent), from 15.0 million in February 2005 to 23.6 million in November 2015. Thus, these figures imply that employment in traditional jobs (standard employment arrangements) rose by only 0.4 million (0.4 percent) from 125.4 million in February 2005 to 125.8 million in November 2015.

And where exactly does that compare FT jobs to PT jobs??? IT DOESN'T!!!!
It compares ALTERNATE to STANDARD work arrangements!!!

It's not about part time jobs.

It's not about Obama's presidency.

It's about some website which made up a false statement from nothing actually found in the study. Rightwingnuts are such dupes.

 

[Faun]

Trump has already improved the numbers more than Obama during his whole term.

Not bad, that's a real president right there. No fake...

WTF are you smoking?

The unemployment rate fell from 7.8% to 4.8% (a 3 point, 38% decrease) under Obama

The unemployment rate fell from 4.8% to 3.8% (a 1 point, 21% decrease) under Trump

I don't know where you learned math, but in no universe is 21% greater than 38%.

Did you notice the word "TERM".

Do you know the difference between TERM and two TERMS?

You are lecturing me, a math major for not knowing mathematics, when you can't differentiate between one and two? Idiot...

I see, so you want to compare the recession Obama was handed with the good economy Trump was handed, to say look, Trump is doing better.

Yes, he is doing better.

Of course he is. He wasn't handed the worst economy in generations. Had he been handed an unemployment rate of 7.8% and growing, he wouldn't be able to boast how black unemployment is at an all time low, or how the overall unemployment rate is 3.8%.

 

[edthecynic]

Hi you dumb illiterate, ignorant fucking racist.

What did the economy do AFTER Pelosi and the democrats won the HOUSE AND SENATE in 2007.

Go ahead you dumb illiterate fuck. Tell us. While a pathetic ignorant fuck like you giggles at that, please tell me...

Who signed the Commodity Futures Modernization Act which exempted credit default swaps from regulation you loser.

While you are ignoring the facts with that, tell us who rewrote the Community Reinvestment Act which put pressure on banks to lend to low income neighborhoods you pathetic fucking loser.

Now back to the Pelosi and the democrats taking over congress from 2007 to 2010. What did the economy do during that time you stupid ass demented ignorant ass.

Go ahead and tell us what the economy has done since republicans started winning congress back from 2010 till now you piece of shit.

Then keep telling us how your black messiah made the economy recover so I can laugh my rich ass off at your stupid pathetic hypocritical ass.

Moron

"What did the economy do AFTER Pelosi and the democrats won the HOUSE AND SENATE in 2007."

LOL

What did Pelosi and Congressional Democrats do "in 2007" to cause the crash?? You freaks are truly fucking nuts.

/----/ Hope this doesn't make your head explode, Faun: Here's the real story, in brief: In 1995, using the powers of the presidency, Bill Clinton turned the 1977 Community Reinvestment Act into an aggressive program that basically forced banks to lend money to "underserved" communities. That meant those with low incomes who couldn't necessarily repay a loan.
Sorry, Hillary, You And Bill — Not Tax Cuts — Caused The Financial Crisis | Stock News & Stock Market Analysis - IBD

Invested Bigots Daily is a far Right-wing propaganda site with no credibility.

And lending money to "underserved communities" does NOT mean to people who couldn't repay it. The CRA required borrowers to be QUALIFIED. It was Bush's ADDI that made no down payment loans for more than the house was worth to UNQUALIFIED borrowers with BAD CREDIT!
But you knew that already.

 

[Norman]

Trump has already improved the numbers more than Obama during his whole term.

Not bad, that's a real president right there. No fake...

WTF are you smoking?

The unemployment rate fell from 7.8% to 4.8% (a 3 point, 38% decrease) under Obama

The unemployment rate fell from 4.8% to 3.8% (a 1 point, 21% decrease) under Trump

I don't know where you learned math, but in no universe is 21% greater than 38%.

Did you notice the word "TERM".

Do you know the difference between TERM and two TERMS?

You are lecturing me, a math major for not knowing mathematics, when you can't differentiate between one and two? Idiot...

I see, so you want to compare the recession Obama was handed with the good economy Trump was handed, to say look, Trump is doing better.

Yes, he is doing better.

Of course he is. He wasn't handed the worst economy in generations. Had he been handed an unemployment rate of 7.8% and growing, he wouldn't be able to boast how black unemployment is at an all time low, or how the overall unemployment rate is 3.8%.

Yes, yes...

You can tell all the stories in the world you want, but the fact is the economy is great.. Lowest black unemployment ever!


Scrap that, the economy is actually shit, but by modern terms it's excellent. And most importantly will get Trump re-elected 2020. MAGA!

 

[Faun]

WTF are you smoking?

The unemployment rate fell from 7.8% to 4.8% (a 3 point, 38% decrease) under Obama

The unemployment rate fell from 4.8% to 3.8% (a 1 point, 21% decrease) under Trump

I don't know where you learned math, but in no universe is 21% greater than 38%.

Did you notice the word "TERM".

Do you know the difference between TERM and two TERMS?

You are lecturing me, a math major for not knowing mathematics, when you can't differentiate between one and two? Idiot...

I see, so you want to compare the recession Obama was handed with the good economy Trump was handed, to say look, Trump is doing better.

Yes, he is doing better.

Of course he is. He wasn't handed the worst economy in generations. Had he been handed an unemployment rate of 7.8% and growing, he wouldn't be able to boast how black unemployment is at an all time low, or how the overall unemployment rate is 3.8%.

Yes, yes...

You can tell all the stories in the world you want, but the fact is the economy is great.. Lowest black unemployment ever!


Scrap that, the economy is actually shit, but by modern terms it's excellent. And most importantly will get Trump re-elected 2020. MAGA!

LOL

That's like crediting a backup QB for a team's highest score because he came in and threw one TD at the end of a game to give them a team record -- which ignoring the starting QB who threw for 6 TD's earlier.

 

[Norman]

Did you notice the word "TERM".

Do you know the difference between TERM and two TERMS?

You are lecturing me, a math major for not knowing mathematics, when you can't differentiate between one and two? Idiot...

I see, so you want to compare the recession Obama was handed with the good economy Trump was handed, to say look, Trump is doing better.

Yes, he is doing better.

Of course he is. He wasn't handed the worst economy in generations. Had he been handed an unemployment rate of 7.8% and growing, he wouldn't be able to boast how black unemployment is at an all time low, or how the overall unemployment rate is 3.8%.

Yes, yes...

You can tell all the stories in the world you want, but the fact is the economy is great.. Lowest black unemployment ever!


Scrap that, the economy is actually shit, but by modern terms it's excellent. And most importantly will get Trump re-elected 2020. MAGA!

LOL

That's like crediting a backup QB for a team's highest score because he came in and threw one TD at the end of a game to give them a team record -- which ignoring the starting QB who threw for 6 TD's earlier.

Are you saying that Trump is worse at improving the economy having built a billion dollar business, than a COMMUNITY ORGANIZER?

That's a bit tough one to sell, with some serious Dunning Kruger thrown in. But either way, people won't care. They will see only the results and elect Trump again.

 

[Kosh]

Did you notice the word "TERM".

Do you know the difference between TERM and two TERMS?

You are lecturing me, a math major for not knowing mathematics, when you can't differentiate between one and two? Idiot...

I see, so you want to compare the recession Obama was handed with the good economy Trump was handed, to say look, Trump is doing better.

Yes, he is doing better.

Of course he is. He wasn't handed the worst economy in generations. Had he been handed an unemployment rate of 7.8% and growing, he wouldn't be able to boast how black unemployment is at an all time low, or how the overall unemployment rate is 3.8%.

Yes, yes...

You can tell all the stories in the world you want, but the fact is the economy is great.. Lowest black unemployment ever!


Scrap that, the economy is actually shit, but by modern terms it's excellent. And most importantly will get Trump re-elected 2020. MAGA!

LOL

That's like crediting a backup QB for a team's highest score because he came in and threw one TD at the end of a game to give them a team record -- which ignoring the starting QB who threw for 6 TD's earlier.

Leave it to a far left drone to forget that things turned around instantly when Trump was sworn in.

The economy improved just by Obama and the far left being pushed out of power.

Something the far left will never be able to see..

 

[Norman]

I see, so you want to compare the recession Obama was handed with the good economy Trump was handed, to say look, Trump is doing better.

Yes, he is doing better.

Of course he is. He wasn't handed the worst economy in generations. Had he been handed an unemployment rate of 7.8% and growing, he wouldn't be able to boast how black unemployment is at an all time low, or how the overall unemployment rate is 3.8%.

Yes, yes...

You can tell all the stories in the world you want, but the fact is the economy is great.. Lowest black unemployment ever!


Scrap that, the economy is actually shit, but by modern terms it's excellent. And most importantly will get Trump re-elected 2020. MAGA!

LOL

That's like crediting a backup QB for a team's highest score because he came in and threw one TD at the end of a game to give them a team record -- which ignoring the starting QB who threw for 6 TD's earlier.

Leave it to a far left drone to forget that things turned around instantly when Trump was sworn in.

The economy improved just by Obama and the far left being pushed out of power.

Something the far left will never be able to see..

It's very close to what these folks predicted would happen. Take it from the great leftist economist:


"It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover? A first-pass answer is never… So we are very probably looking at a global recession, with no end in sight." Paul Krugman of the New York Times the day after the election.

After this prediction, Trump proceeded to make a new record, with the stock market up EACH MONTH of the year.