The U.S. economy added 271,000 jobs in October, and the unemployment rate fell to 5%

Status
Not open for further replies.
D

DrFunk

not licensed in your state
CTIf6f1WsAAJ02g.jpg


The American economy added 271,000 jobs in October, a very strong showing that makes an interest-rate increase by the Federal Reserve much more likely when policy makers meet next month.

The report on hiring and unemployment, released Friday by the Labor Department, was eagerly anticipated on Wall Street, where traders and economists have been sifting each new bit of economic data for any augury of the central bank’s course.

The unemployment rate dipped to 5.0 percent, from 5.1 in September.

At this level, the unemployment rate is close to what would normally be considered the threshold for full employment by the Fed and many private economists.

.....
Click to expand...

http://www.nytimes.com/2015/11/07/b...ng-unemployment-october.html?smid=tw-bna&_r=0

More at link.
 
"Man just think how much stronger employment would be with a Republican in the White House instead of a tax and spend communist liberal"

I wish facts changed people's minds.
 
I wonder how many of those are seasonal workers? Anyways, that's good to hear.

The right will ignore this positive sign and run with the same talking point:
The Washington Post said:
The share of people participating in the labor force has fallen to the lowest levels in three decades.

Though much of the decline is due to demographic changes, many workers have become so discouraged about their prospects of finding a job that they’ve given up the search.
Click to expand...
 
Plein emploi.



Also of note: This coincides with the new fiscal year for most big companies. They hire more around this time of the year.
 
he-cant-keep-getting-away-with-it.gif


Juice said:
"Man just think how much stronger employment would be with a Republican in the White House instead of a tax and spend communist liberal"

I wish facts changed people's minds.
Click to expand...
I am so cynical that the first thought in my mind was how the GOP will spin this into a bad thing
 
Originally Posted by The Washington Post
The share of people participating in the labor force has fallen to the lowest levels in three decades.

Though much of the decline is due to demographic changes, many workers have become so discouraged about their prospects of finding a job that they’ve given up the search
Click to expand...

tarius1210 said:
How wonder how many of those are seasonal workers? Anyways, that's good to hear.

The right will ignore this positive sign and run with the same talking point:
Click to expand...

Every thread we ignore this. Why?
 
The unemployment rate becomes an ever more deceiving statistic as the labour force participation rate falls and as companies split the same amount of work hours between an increasing amount of people. I'm happy for the 271,000 new jobs; but underemployment is at 14.1% and labour force participation is only at 62.4% compared to a long-term trend of around 66%. There are deeper underlying problems in the US economy that aren't solved by a small uptick in GDP that continues to slosh around the same basic classes.
 
Heh. Ooh, shiny figure.

Let's not talk about the details in which job security is down, labour rates are down, employment hours down, benefits down, labour force participation is down.

But at least that doctored unemployment number is looking good.
 
If the fed does increase interest rates, will major stock indexes increase or decrease? If so, which ones? Are there any market sectors that will particularly benefit? (small caps, large caps, etc)
 
tarius1210 said:
I wonder how many of those are seasonal workers? Anyways, that's good to hear.

The right will ignore this positive sign and run with the same talking point:
Click to expand...

Seasonal workers by themselves aren't bad. For college kids and retirees looking for something to do its fine. Involuntary part-time workers is a key metric and that fell by a lot:

The agency also says that the number of people who are "involuntary part-time workers" due to reduced hours or the difficulty of finding a full-time job "edged down by 269,000 to 5.8 million in October."


http://www.npr.org/sections/thetwo-...934/u-s-economy-added-271-000-jobs-in-october
 
Zaptruder said:
Heh. Ooh, shiny figure.

Let's not talk about the details in which job security is down, labour rates are down, employment hours down, benefits down, labour force participation is down.

But at least that doctored unemployment number is looking good.
Click to expand...

You were making a decent post until you called the UE number doctored. It's been the same measurement for years.
 
Awesome. Glad to hear it's that low. Let's see it hit the 4s. And hopefully we'll start to see improvement in the other metrics too.
 
Zaptruder said:
Heh. Ooh, shiny figure.

Let's not talk about the details in which job security is down, labour rates are down, employment hours down, benefits down, labour force participation is down.

But at least that doctored unemployment number is looking good.
Click to expand...
But, but jobs!

Who cares if they're vastly shitty low paying jobs that provide no upward mobility!
 
Yes, yes.. it's more complicated than the headline numbers.

But for a political ad, it makes for damn good fodder. The Dems can fit their argument into a 30-second ad: "here's where we were. Here's where we are. We're moving in the right direction."

Perhaps the GOP can rent-out infomercial space so that they can make their nuanced argument on how a move from ~10% to ~5% is actually a Bad Thing™, and that we're moving in the wrong direction.
 
Crab said:
The unemployment rate becomes an ever more deceiving statistic as the labour force participation rate falls and as companies split the same amount of work hours between an increasing amount of people. I'm happy for the 271,000 new jobs; but underemployment is at 14.1% and labour force participation is only at 62.4% compared to a long-term trend of around 66%. There are deeper underlying problems in the US economy that aren't solved by a small uptick in GDP that continues to slosh around the same basic classes.
Click to expand...

It's probably just new normal at this point. For example, labor participation has been falling since 2000.

There are some serious demographic changes that this country refuses to look into but will continue to affect the numbers. Large, aging, but still working baby boomer population + an even larger population group in millennials who first started entering the workforce around the time of the economic meltdown = clusterfuck.
 
Slowest. Recovery. Ever. (Or something) when's Obama gonna stop blaming Bush and start taking responsibility for this economy? The economy has been shit since he got elected. We're not even looking at the REAL unemployment rate. Obama bowed to the Chinese PM and doesn't wear a flag lapel pin and he's a Muslim. That's why he lied about Benghazi.
 
Fenderputty said:
Isn't the participation rate expected to stay kinda meh due to baby boomers retiring?
Click to expand...

Yes and no. We'd generally expect a decline in LFP because, as you say, there's an age bump caused by the boomers; but unfortunately the LFP is growing faster than that demographic ages, which implies it's not just them.
 
SliceSabre said:
But, but jobs!

Who cares if they're vastly shitty low paying jobs that provide no upward mobility!
Click to expand...

jesus Christ some of you people are negative. Were you this negative when un-employment was at fucking 10% I'd imagine all these other numbers of under employment, labor participation were all worse or not much better at 10%.
 
BSsBrolly said:
Slowest. Recovery. Ever. (Or something) when's Obama gonna stop blaming Bush and start taking responsibility for this economy? The economy has been shit since he got elected. We're not even looking at the REAL unemployment rate. Obama bowed to the Chinese PM and doesn't wear a flag lapel pin and he's a Muslim. That's why he lied about Benghazi.
Click to expand...
You recorded this secretly at a Trump rally didn't you? You're not getting credit for creating what is a spot on diatribe!
 
HylianTom said:
Yes, yes.. it's more complicated than the headline numbers.

But for a political ad, it makes for damn good fodder. The Dems can fit their argument into a 30-second ad: "here's where we were. Here's where we are. We're moving in the right direction."

Perhaps the GOP can rent-out infomercial space so that they can make their nuanced argument on how a move from ~10% to ~5% is actually a Bad Thing™, and that we're moving in the wrong direction.
Click to expand...

I think it will make essentially no difference. Party elasticity in the United States is incredibly low; swing voters make up a tiny fraction of the electorate and don't really decide elections any more. They've been surpassed by voter enthusiasm - Democrats win when more Democrats turn up and Republicans win when more Republicans turn up. I don't think that the knowledge unemployment has decreased particularly enthuses or disenthuses either side, it's one of those things that people sort of register as being positive but it doesn't get them to the voting both in the way potential legislation can.
 
"involuntary part-time worker" checking in.

Going on 5 years now. Even fast food for won't hire full time.

Going on for another second stage interview in thirty minutes. This one took the months to get to this point.

So yeah, it's easy to get discouraged and just work the part time job cause no one is hiring full time around here.
 
Crab said:
I think it will make essentially no difference. Party elasticity in the United States is incredibly low; swing voters make up a tiny fraction of the electorate and don't really decide elections any more. They've been surpassed by voter enthusiasm - Democrats win when more Democrats turn up and Republicans win when more Republicans turn up. I don't think that the knowledge unemployment has decreased particularly enthuses or disenthuses either side, it's one of those things that people sort of register as being positive but it doesn't get them to the voting both in the way potential legislation can.
Click to expand...

I don't think it'll result in a huge swing, but given how closely elections are decided in this era, a bump of just a few percent can make a pretty big difference. That, and things like this will make narrative-building a bit easier.
 
The muslim nazi blackpanther community activst socialist continues his relentless destruction of this once great country. When will he be stopped?
 
While this is good news and better than any GOP leadership could have accomplished, true employment is U6. That should be reduced to 5%
 
Status
Not open for further replies.

Similar threads

  • Locked
Does the entire world economy depend on the United States having its doors open to everyone?
39
2K
EviLore replied
City Tree just fell on my car.
48
176
The Pleasure replied
Do you think there are any police departments in the U.S. these days without body cams ?
2
114
Mistake replied
  • Locked
Borat's economy
3
816
ForAcademicPurposes replied
And the number one movie in the country was called Ass
8
179
CGNoire replied
Top Bottom