Aa
Lets Get out and WORK
http://www.zerohedge.com/news/2014-10-03/labor-participation-rate-drops-36-year-low-record-926-million-americans-not-labor-fo
While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% - the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million
While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% - the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million
Plenty of truth in the things mentioned above. The good news is, the establishment is tickled because it is working as planned. Here we sit belly aching about all of this, and in the mean time, nothing is happening to remedy the situation. It's beautiful.... the people are up in arms, and the government employees are making more money than they ever have before all the while accomplishing very little.
All of government is to blame. Neither side owns up to the things they are and are not doing, and they don't have to as long as "we the people" will pick and defend a political position.
Just as planned people. Just as planned.
Just posing a question here, but when will our elected officials put themselves in for another raise?
All of government is to blame. Neither side owns up to the things they are and are not doing, and they don't have to as long as "we the people" will pick and defend a political position.
Just as planned people. Just as planned.
Just posing a question here, but when will our elected officials put themselves in for another raise?
Please stop with daily kook links, people complain when I use Drudge dailykook is just pure BS.
Why does everyone not understand that business no matter how big has to make $. If you have to pay employees $25 an hour because of unions then a company is going to choose to pay less so overall the profit is better for everyone and the cost for Americans is lower for the product.
Anything made in Taiwan right now, if that same product was made in America it would probably cost us at least double. I am all for American jobs but get unions out of these jobs and then maybe I will see a reason to bring them back here.
Why does everyone not understand that business no matter how big has to make $. If you have to pay employees $25 an hour because of unions then a company is going to choose to pay less so overall the profit is better for everyone and the cost for Americans is lower for the product.
Anything made in Taiwan right now, if that same product was made in America it would probably cost us at least double. I am all for American jobs but get unions out of these jobs and then maybe I will see a reason to bring them back here.
http://www.dailykos.com/story/2014/10/03/1334156/-Lowest-Unemployment-Rate-in-6-Years
" ......The dollar surged on Friday as a strong jobs report showed the US is running ahead of a struggling global economy and raised the chances of an early rate hike by the US Federal Reserve.
September’s jobs report showed 248,000 new jobs, compared with expectations of 215,000. The unemployment rate fell by 0.2 percentage points to 5.9 per cent and upward revisions of 69,000 jobs erased the seeming weakness of last month’s report.
“This morning there is a sigh of relief on both Wall Street and Main Street,” said Sung Won Sohn, a professor at California State University. “The slowdown in August was an aberration and the economy is back on a healthier growth trajectory.”
The figures raise the six-month rolling average of payrolls growth to 245,000, a pace that suggests a robust underlying recovery, boosting hopes that US strength will offset weakness elsewhere in the world economy.
We've now recovered from a lot of the damage done by 8 years of Bush/Cheney idiocy. While there are obviously still problems with the economy, especially in regards to wealth and income inequality, the only way that this will be addressed while economic growth is simultaneously safeguarded is if Democrats regain control of Congress."
" ......The dollar surged on Friday as a strong jobs report showed the US is running ahead of a struggling global economy and raised the chances of an early rate hike by the US Federal Reserve.
September’s jobs report showed 248,000 new jobs, compared with expectations of 215,000. The unemployment rate fell by 0.2 percentage points to 5.9 per cent and upward revisions of 69,000 jobs erased the seeming weakness of last month’s report.
“This morning there is a sigh of relief on both Wall Street and Main Street,” said Sung Won Sohn, a professor at California State University. “The slowdown in August was an aberration and the economy is back on a healthier growth trajectory.”
The figures raise the six-month rolling average of payrolls growth to 245,000, a pace that suggests a robust underlying recovery, boosting hopes that US strength will offset weakness elsewhere in the world economy.
We've now recovered from a lot of the damage done by 8 years of Bush/Cheney idiocy. While there are obviously still problems with the economy, especially in regards to wealth and income inequality, the only way that this will be addressed while economic growth is simultaneously safeguarded is if Democrats regain control of Congress."
"Big business avoids paying taxes by declaring their home base outside the country."
Everyone who avoids taxes this way should be living in the country they hide their money in. I hear the Caymans are going to get a little damp as the oceans rise, the Swiss don't want them, that leaves the owners of the shipping companies who register their ships in Liberia .....
Everyone who avoids taxes this way should be living in the country they hide their money in. I hear the Caymans are going to get a little damp as the oceans rise, the Swiss don't want them, that leaves the owners of the shipping companies who register their ships in Liberia .....
Lets see we no longer have manufacturing jobs because companies send our jobs overseas. Big business avoids paying taxes by declaring their home base outside the country.
Honestly, I'd like to see us stop all these foreign wars and use that money to put the US back to work, WPA style
Honestly, I'd like to see us stop all these foreign wars and use that money to put the US back to work, WPA style
Well let me see here. We could always go back to where we began and then maybe you could fathom just how far we have come. Short memory or Selective short memories. You cannot be serious or if you are? That is something even more troubling, but obamacare is here to help you with that.
Where are the jobs? Yeah? Where are they? The republicans ran on job creation and then within 24 hrs of being elected McConnel said his number one job priority was to make obama a one time president...HUGE FAIL!!!!
Secondly, Republicans will agree that they themselves could not live on the min wage, yet refuse to bring it to the floor.......
Did that answer your own questions?
And let me add this. Obama did this all by his lonesome with no help from the republicans whatsoever. Taking that into consideration and the mess that was bleeding 800thousand jobs a month and with depression staring us in the face, Obama brought us back from the brink and we have been improving ever since.......all the while, the republicans plotting to bring him down and invent one scandal after another just so they could look like they were actually doing something to earn their pay.
It gets old trying to get the obama haters to pull they collective heads outta they collective *****.
Secondly, Republicans will agree that they themselves could not live on the min wage, yet refuse to bring it to the floor.......
Did that answer your own questions?
And let me add this. Obama did this all by his lonesome with no help from the republicans whatsoever. Taking that into consideration and the mess that was bleeding 800thousand jobs a month and with depression staring us in the face, Obama brought us back from the brink and we have been improving ever since.......all the while, the republicans plotting to bring him down and invent one scandal after another just so they could look like they were actually doing something to earn their pay.
It gets old trying to get the obama haters to pull they collective heads outta they collective *****.
Yep...because Harry Reid is bringing bills passed by the House to the floor for a vote? Or because Obama has tried to work with Republicans? Yeah none of that happened. Stop believing the lies you are told.
Labor participation is the lowest since the 1970's, so how is that good? How have we come a long way? Oh right because the White House says so.
Labor participation is the lowest since the 1970's, so how is that good? How have we come a long way? Oh right because the White House says so.
The jobs that've been added are UNDER-PAYING and PART-TIME.
The only people that are saying that everything is rosey, are the Obama Worshipers.
Case and point... the poster directly above me.
Jobless claims are dropping, yes. But that's only because people have used up all of their benefit. They've simply stopped looking for work, as it;'s hopeless.
How hard is that to understand, TEKO?!?
The only people that are saying that everything is rosey, are the Obama Worshipers.
Case and point... the poster directly above me.
Jobless claims are dropping, yes. But that's only because people have used up all of their benefit. They've simply stopped looking for work, as it;'s hopeless.
How hard is that to understand, TEKO?!?
AND just imagine where we would be if the republicans worked for the country instead of against it! Wow! Just imagine!
No we have not come a long way.
The labor market rebounded sharply in September as employers added 248,000 jobs, but wage growth remained weak despite a tightening supply of workers.
The unemployment rate fell to 5.9% from 6.1%, lowest since July 2008, the Labor Department said Friday.
Both numbers were better than forecasts. Economists surveyed by Action Economics had estimated that 215,000 jobs were added last month and that the unemployment rate was unchanged.
USATODAY
First take: Time to think about the Fed
August's initially disappointing job gains were revised to 180,000 from 142,000. July's count was revised to 243,000 from 212,000, boosting gains for the two summer months by 69,000.
That brings total payroll gains for the year above 2 million.
Last month, businesses added 236,000 jobs, fueled by strong gains in professional and business services, retail and healthcare. Federal, state and local governments added 12,000.
Monthly employment gains have averaged for 227,000 so far this year, up from 194,000 for all of 2013.
Hourly earnings rose, however, dipped one cent to $24.53 and are up just 2% over the past year, in line with the modest increases so far in the five-year-old recovery.
"The labor market is clearly tightening but there's still no wage pressures," says economist Joel Naroff of Naroff Economic Advisors. "When do businesses start dealing with labor shortages by raising wages?"
He added: "The only way we're going to get stronger economic growth is if people have money to spend."
Like many economists, Naroff still expects wage growth to pick up later this year.
Some other labor market indicators in September were encouraging.
The average work week rose to 34.6 hours after being unchanged at 34.5 hours for six straight months. Increased hours could signal that continued strong hiring lies ahead.
And the so-called underemployment rate -- which includes discouraged workers who've stopped looking for jobs and part-time employees who prefer full-time work as well as the unemployed – fell to 11.8% from 12%.
Professional and business services led the job gains with 81,000. Retail added 35,000; leisure and hospital, 33,000; and health care, 23,000.
Construction, meanwhile, added 16,000 jobs and manufacturing, just 4,000.
Even with the latest revision, monthly job growth slowed in August after averaging well over 200,000 for six months. But some economists considered the disappointing tally an anomaly, noting that other labor market indicators have been positive.
The Labor Department said Thursday that initial jobless claims continue at prerecession levels, and private payroll processor ADP this week estimated that businesses added 213,000 jobs in September.
Economists also expected Labor's survey to be bolstered by the return of about 20,000 striking workers.
I think we have come a long long way from when we were losing 800 thousand jobs a month, dont you? And we didnt sink into depression like we could have.
The unemployment rate fell to 5.9% from 6.1%, lowest since July 2008, the Labor Department said Friday.
Both numbers were better than forecasts. Economists surveyed by Action Economics had estimated that 215,000 jobs were added last month and that the unemployment rate was unchanged.
USATODAY
First take: Time to think about the Fed
August's initially disappointing job gains were revised to 180,000 from 142,000. July's count was revised to 243,000 from 212,000, boosting gains for the two summer months by 69,000.
That brings total payroll gains for the year above 2 million.
Last month, businesses added 236,000 jobs, fueled by strong gains in professional and business services, retail and healthcare. Federal, state and local governments added 12,000.
Monthly employment gains have averaged for 227,000 so far this year, up from 194,000 for all of 2013.
Hourly earnings rose, however, dipped one cent to $24.53 and are up just 2% over the past year, in line with the modest increases so far in the five-year-old recovery.
"The labor market is clearly tightening but there's still no wage pressures," says economist Joel Naroff of Naroff Economic Advisors. "When do businesses start dealing with labor shortages by raising wages?"
He added: "The only way we're going to get stronger economic growth is if people have money to spend."
Like many economists, Naroff still expects wage growth to pick up later this year.
Some other labor market indicators in September were encouraging.
The average work week rose to 34.6 hours after being unchanged at 34.5 hours for six straight months. Increased hours could signal that continued strong hiring lies ahead.
And the so-called underemployment rate -- which includes discouraged workers who've stopped looking for jobs and part-time employees who prefer full-time work as well as the unemployed – fell to 11.8% from 12%.
Professional and business services led the job gains with 81,000. Retail added 35,000; leisure and hospital, 33,000; and health care, 23,000.
Construction, meanwhile, added 16,000 jobs and manufacturing, just 4,000.
Even with the latest revision, monthly job growth slowed in August after averaging well over 200,000 for six months. But some economists considered the disappointing tally an anomaly, noting that other labor market indicators have been positive.
The Labor Department said Thursday that initial jobless claims continue at prerecession levels, and private payroll processor ADP this week estimated that businesses added 213,000 jobs in September.
Economists also expected Labor's survey to be bolstered by the return of about 20,000 striking workers.
I think we have come a long long way from when we were losing 800 thousand jobs a month, dont you? And we didnt sink into depression like we could have.
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