PDA

View Full Version : Economics Unemployment drops to 8.9 192K Jobs Added


dirk digler
03-04-2011, 08:22 AM
Good news all around.

After a winter of weak improvement in the labor market, the Bureau of Labor Statistics has finally reported a promising sign of growth in the American economy.

In February, 192,000 jobs were added to the U.S. economy. While this headline number is encouraging, February's job growth was not, economists point out, good enough to make a significant dent in the unemployment rate, which remained relatively unchanged, falling to 8.9 percent from 9 percent.

Job gains occurred in manufacturing, construction, professional and business services, health care, and transportation and warehousing, while employment in state and local government edged down.

"I think its a great number for the economy and a great number for the american worker," said Wells Fargo economist John Silvia. "For the private sector -- we haven't seen a number like this since 2006."

The last several months of job growth have been achingly slow. Despite numerous indicators of economic recovery -- manufacturing expanding for the 19th straight month, gross domestic product on the rise, and growing corporate profits -- the unemployment rate didn't drop below a grim 9 percent.

In fact, this winter's most significant drop in the unemployment rate came, not from jobs added to a difficult labor market, but from discouraged workers giving up the hunt.

Ebolapox
03-04-2011, 08:23 AM
OMG WE'RE SAVED!

The Mad Crapper
03-04-2011, 08:38 AM
There's no inflation, too.

patteeu
03-04-2011, 08:46 AM
If this rate can be maintained, and it won't be, how mong would it take to add the 13 million jobs it would take to bring the unemployment rate down to a respectable 6%?

A: Over 5.5 years.

Conclusion: Even Obama's good news is bad news.

fan4ever
03-04-2011, 08:46 AM
People are being dropped from unemployment because they're no longer eligible, hence the lowering of the statistic.

Where can I get those rose colored glasses and is there a government rebate?

The Mad Crapper
03-04-2011, 08:47 AM
Conclusion: Even Obama's good news is bad news.

The guy has had a rough week, the BLS threw him a bone (conveniently on Friday; Monday they will revise the numbers when nobody is looking).

BucEyedPea
03-04-2011, 08:53 AM
Dirk please provide the link.

Like is it from the Democratic Underground?

The Mad Crapper
03-04-2011, 08:58 AM
Dirk please provide the link.

Like is it from the Democratic Underground?

He got it from Yahoo.news the headline reads Hiring Surges ROFL in laughable Goebbels style.

We’ve already been over this.

There are variables conveniently kept isolated until they can be used in ways that manipulate the data in favor of the intended outcome.

This is how the ruse works:

Job numbers and the unemployment rate are created by the U.S. Bureau of Labor Statistics.

Every year, the bureau revises or "benchmarks" its employment numbers for the previous two to five years as it gets more accurate information.

The number of jobs, for example, is based on monthly nationwide surveys of employers. But after the bureau gets corporate-tax data and other information around the beginning of the year, it develops a more accurate number of how many jobs were added or lost in previous years.

The unemployment rate is based on monthly surveys of 50,000 households in the country. Those people are asked if they have looked for work in the past four weeks and many other questions.

Numbers derived from those household surveys are then subjected to a model that is designed to smooth out seasonal changes, such as the fact that employers add workers before the holidays and let them go in January.

So 1,000 people from each state are called on the phone and surveyed and you don't think results can be manipulated to create desired outcome? And based on all the other lies and BS this administration has already been caught in, you really want to give them the benefit of the doubt? You'd have to have your head seriously embedded in your ass.

BucEyedPea
03-04-2011, 09:08 AM
He got it from Yahoo.news the headline reads Hiring Surges ROFL in laughable Goebbels style.

We’ve already been over this.

There are variables conveniently kept isolated until they can be used in ways that manipulate the data in favor of the intended outcome.

This is how the ruse works:

Job numbers and the unemployment rate are created by the U.S. Bureau of Labor Statistics.

Every year, the bureau revises or "benchmarks" its employment numbers for the previous two to five years as it gets more accurate information.

The number of jobs, for example, is based on monthly nationwide surveys of employers. But after the bureau gets corporate-tax data and other information around the beginning of the year, it develops a more accurate number of how many jobs were added or lost in previous years.

The unemployment rate is based on monthly surveys of 50,000 households in the country. Those people are asked if they have looked for work in the past four weeks and many other questions.

Numbers derived from those household surveys are then subjected to a model that is designed to smooth out seasonal changes, such as the fact that employers add workers before the holidays and let them go in January.

So 1,000 people from each state are called on the phone and surveyed and you don't think results can be manipulated to create desired outcome? And based on all the other lies and BS this administration has already been caught in, you really want to give them the benefit of the doubt? You'd have to have your head seriously embedded in your ass.

Well, that's just like the govt's mythical basket of goods for measuring inflation that gets changed around when the politicians don't like the numbers. That's what progressive economists mean when they cite objective empirical data. I know banyon is big on such empirical data.

ROYC75
03-04-2011, 09:08 AM
Oh My, it's the time of the year where seasonal jobs come back to the economy. Obama and his staff should be jumping for joy they didn't screw that part up.

Maybe Walker will lay off the Wisc. workers to counter punch that .01 % growth?

Chiefshrink
03-04-2011, 09:28 AM
Hey, if they used the same 'real' formulas to calculate the economy like they did back 30yrs ago we would truly get the 'real' employment numbers and 'real' economic stats but that will never happen.

The Mad Crapper
03-04-2011, 09:31 AM
Well, that's just like the govt's mythical basket of goods for measuring inflation that gets changed around when the politicians don't like the numbers. That's what progressive economists mean when they cite objective empirical data. I know banyon is big on such empirical data.

LMAO

And when that fails, he just HURRUMPS:mad: and calls you stupid.

dirk digler
03-04-2011, 09:32 AM
Dirk please provide the link.

Like is it from the Democratic Underground?

It is pretty much everywhere.

Why is everyone is pissed off about good numbers? Geez you would think this would be a good thing. I don't get it

The unemployment rate fell to 8.9 percent in February, hitting the lowest point in nearly two years as employers started hiring at a faster pace.
The Bureau of Labor Statistics reported that several industries, including the manufacturing and construction sectors, saw job gains last month. In all, the economy added 192,000 jobs last month, marking the fastest pace of growth in almost a year. By contrast, state and local governments wrestling with budget shortfalls slashed 30,000 jobs, the most since November.

Read more: http://www.foxnews.com/politics/2011/03/04/jobless-rate-dips-8-percent-lowest-nearly-years/#ixzz1Fe4NDxaP

The Mad Crapper
03-04-2011, 09:40 AM
It is pretty much everywhere.

Why is everyone is pissed off about good numbers? Geez you would think this would be a good thing. I don't get it

First of all, If I believed anything the government told me at this point, while I wouldn't be pissed off, I wouldn't call this "good numbers" or "good news" either.

It's all orchestrated propaganda. It's like clockwork, oh, it's Friday here's some manufactured statistics to pump up the DOW!

I mean come on, this has been going on for two years now. You can practically time it at this point.

BucEyedPea
03-04-2011, 09:42 AM
It is pretty much everywhere.

Why is everyone is pissed off about good numbers? Geez you would think this would be a good thing. I don't get it

Well, that's nice that it's Fox. How will your fellow Progressives view such numbers from Faux news though?

cdcox
03-04-2011, 09:43 AM
It is pretty much everywhere.

Why is everyone is pissed off about good numbers? Geez you would think this would be a good thing. I don't get it

Once you understand the fact that conservatives secretly hate the USA it all makes sense.

The Mad Crapper
03-04-2011, 09:44 AM
Hey, if they used the same 'real' formulas to calculate the economy like they did back 30yrs ago we would truly get the 'real' employment numbers and 'real' economic stats but that will never happen.

Wonder why the unemployment rate is at an artificially low 8.9%? Three simple words: Labor Force Participation. At 64.2%, it was unchanged from last month, and continues to be at a 25 year low. Should the LFP return to its 25 trendline average of 66.1%, the unemployment rate would be 11.6%. And indicatively, the Birth/Death adjustment was +112,000.

http://www.zerohedge.com/article/labor-force-participation-rate-remains-25-year-low-642-birthdeath-adjustment-112000

BucEyedPea
03-04-2011, 09:45 AM
Once you understand the fact that conservatives secretly hate the USA it all makes sense.

Well, now cdox, that's not really fair. They hate what the USA is being turned into—>the U.S.S.A. and taxpayer dollars to bail out millionaire bankers.
Progressive hate what the USA was founded on and seek to change it based on the outcomes they desire. Conservatives don't like that.

The Mad Crapper
03-04-2011, 09:48 AM
Once you understand the fact that conservatives secretly hate the USA it all makes sense.

If it was just conservatives saying this then ad hominem's and liberal prattle might work, but alas, even CNBC is calling it a joke...

Why the Unemployment Rate Has Become a Bad Joke


Published: Monday, 14 Feb 2011 | 2:00 PM ET Text Size By: Jeff Cox
CNBC.com Staff Writer

The national unemployment rate is becoming an increasingly meaningless statistic when it comes to painting a true picture of economic and job growth.

While the December drop from 9.4 percent to 9.0 percent might have looked nice on paper, digging through the real numbers shows the actual jobs picture hasn’t improved at all.

In fact, the situation is at best stagnating, despite headline numbers that look like things are getting better.

At the heart of the unemployment rate deception are the nearly three million Americans counted as “marginally attached” to the labor force. Those folks would take a job if offered but actually aren’t actively looking and thus not counted in the government’s official statistics. There are a million more of them than there were in January 2008, thanks to the lousy job market that seems to be improving only at the margins.

So when you see a “drop” in the unemployment rate, like we did when the January nonfarm payrolls number came out, it’s best to measure carefully the grains of salt with which one takes the official government numbers.


RELATED LINKS
Current DateTime: 05:37:14 04 Mar 2011
LinksList Documentid: 41583642
Market’s Dirty Little Secret: 9% Unemployment Just Fine
How Many Jobs Does Gulf Drilling Really Employ? Fact Vs. Fiction
The Worst Hyperinflation Situations of All Time

“This is a significant number of people waiting on the sidelines,” Paul Ashworth, chief US economist at Capital Economics in Toronto, wrote in a must-read analysis of the labor force’s participation rate.

“Considering that there are about 7 million more unemployed now than three years ago, it suggests the pool of available labor could be 15% bigger than the unemployment figures suggest,” he concluded.

That puts the headline unemployment rate well north of 10 percent, even as the so-called “real” unemployment number—which takes into account an even broader swath of the working-age population—remains above 16 percent but in a modest decline. In fact, Ashworth attributes the drop from the cycle high of 10.1 percent unemployment to the current level “as much due to a contraction in the labor force” as any illusory improvement in the real jobs picture.

“The 836,000 decline in the labor force since (the October 2009 peak) is only slightly smaller than the 930,000 increase in employment,” he wrote. “Over the second half of last year, the labor force shrank by more than employment expanded. …In other words, the drop in the unemployment rate doesn't reflect an improving job market, but rather a decline in the labor force participation rate.”

In fact, the participation rate is shrinking, not growing, falling to 64.2 percent, which is an eye-popping 26-year low. That trend makes it even harder to reconcile a drop in the unemployment rate, and also makes laughable the protests of some economists that the paltry 37,000 nonfarm job growth for January was due to weather.

Economists who have held bullish outlooks for the economy are taking notice.

“Never before has such a sharp decline in the unemployment rate been predicated on an ongoing drop in the labor force. The participation rate has crumbled 1.5 (percentage points) since the recovery began,” Bank of America Merrill Lynch economists Neil Dutta and Ethan S. Harris wrote in a research note.

“This labor force detachment tell us two things that should give even the most bullish of market participants room for pause: (1) structural unemployment is rising and (2) the potential rate of growth in the US is slowing.”

What’s more, those glibly dismissing inflation threats also could be in for a surprise.

“More structural unemployment and weak potential growth imply less slack in the economy and raise an inflation risk,” the BofAML team wrote.

Just today, Neal Soss, head of the economics team at Credit Suisse, said the drop in people looking for jobs is unlikely to abate for years.

“One arithmetical consequence of a subdued labor participation rate is that it requires smaller job gains to achieve the same amount of decline in the unemployment rate. Thus, the decline in the jobless rate tends to overstate the improvement in the labor market,” he warned clients.

So what’s it all mean?

Extrapolating from Soss’s analysis, we should be careful how easily we dismiss future rounds of Fed easing, political climate be damned.

“The Fed seems to share our concerns about the mathematical calculation of the unemployment rate and is beginning to downplay the improvement in that statistic in its assessment of America's jobs problem,” Soss wrote. “We expect the Fed to maintain its accommodative policy stance until the unemployment rate drops for a good reason: because monthly job gains move to a much higher plateau.”

http://www.cnbc.com/id/41583533

Amnorix
03-04-2011, 09:52 AM
If this rate can be maintained, and it won't be, how mong would it take to add the 13 million jobs it would take to bring the unemployment rate down to a respectable 6%?

A: Over 5.5 years.

Conclusion: Even Obama's good news is bad news.


:spock: For every silver lining there is a dark thundercloud about to unleash hell on earth.

Climbing out of a recession, especially one as deep as this, will take time, of that there is no doubt. Nor would it likely have gone much faster regardless of McCain or Obama winning the election. I'm encouraged by the decrease in public sector jobs and more than offsetting increase in private sector.

cdcox
03-04-2011, 09:54 AM
Well, now cdox, that's not really fair. They hate what the USA is being turned into—>the U.S.S.A. and taxpayer dollars to bail out millionaire bankers.
Progressive hate what the USA was founded on and seek to change it based on the outcomes they desire. Conservatives don't like that.

It wasn't meant to be fair. It was meant to be ironic.

See conservative accusations against their opposition.

Amnorix
03-04-2011, 09:56 AM
There is no doubt that continued offshoring of jobs and employers trying to squeeze the crap out of workers by refusing to hire despite increased workloads is resulting in slow recovery of the unemployment rate. Not that it isn't their right to hire (or not) as they will, but this "jobless recovery" is definitely not helping the broader economy.

And it's not at all clear what sensible federal policies should be revised/ revoked/ implemented to affect that.

Saul Good
03-04-2011, 09:59 AM
This is good news any way you slice it. I don't put any stock into the unemployment rate we are being fed, but 200,000 jobs is 200,000 jobs.

The Mad Crapper
03-04-2011, 10:00 AM
And it's not at all clear what sensible federal policies should be revised/ revoked/ implemented to affect that.

It's not?

LMAO

Jenson71
03-04-2011, 10:01 AM
It is pretty much everywhere.

Why is everyone is pissed off about good numbers? Geez you would think this would be a good thing. I don't get it

Some people would rather have 20% unemployment and Obama lose in 2012 than 4% unemployment and Obama win.

The Mad Crapper
03-04-2011, 10:02 AM
This is good news any way you slice it. I don't put any stock into the unemployment rate we are being fed, but 200,000 jobs is 200,000 jobs.

I hear you, but did is the rate really 8.9%? The U Rate has gone down like 100% in 3 months. :rolleyes:

It's hard not to believe numbers are being manipulated here to get an outcome that is favorable to the regime.

The Mad Crapper
03-04-2011, 10:05 AM
Some people would rather have 20% unemployment and Obama lose in 2012 than 4% unemployment and Obama win.

No, the sad truth is we have a media that will report unemployment at 4% to help Obama win re-election even if it is really at 20%.

dirk digler
03-04-2011, 10:06 AM
First of all, If I believed anything the government told me at this point, while I wouldn't be pissed off, I wouldn't call this "good numbers" or "good news" either.

It's all orchestrated propaganda. It's like clockwork, oh, it's Friday here's some manufactured statistics to pump up the DOW!

I mean come on, this has been going on for two years now. You can practically time it at this point.

It just didn't start when Obama took over. The Labor Dept traditionally releases at the same time for years

Cave Johnson
03-04-2011, 10:11 AM
I hear you, but did is the rate really 8.9%? The U Rate has gone down like 100% in 3 months. :rolleyes:

It's hard not to believe numbers are being manipulated here to get an outcome that is favorable to the regime.

It's calculated the same bullshit way, whether the rate is 5.5% or 10.5%. An improvement in a flawed metric is still an improvement.

And, by "U Rate", do you mean the unemployment rate???

The Mad Crapper
03-04-2011, 10:13 AM
It just didn't start when Obama took over. The Labor Dept traditionally releases at the same time for years

This is true. Two points however; the model the BLS is using is over 3 years old. A 2008 pre-recession model is being used on an economy that right now wouldn't be recognizable to the economists who built that model.

Second of all, Obama has infiltrated every single Beauracracy, including the BLS. For example, the labor dept secratary, Solis has publicly stated solidarity with the union protestors in Wisconsin, the AG has filed a lawsuit against Arizona, and Homeland Security won't call the last Islamic terrorist attack-- the murder of two US Airmen--- a "terror attack". We have a FED chairman Bernanke who refuses to acknowledge inflation of our currency.

When you see major federal institutions like that compromised by an extreme leftwing agenda, you have to look at all of them suspect, including the BLS.

Like I said, you don't have to take my word for it, or my theories as to why, just read the CNBC article I linked.

It's common sense.

The Mad Crapper
03-04-2011, 10:17 AM
It's calculated the same bullshit way, whether the rate is 5.5% or 10.5%. An improvement in a flawed metric is still an improvement.

And, by "U Rate", do you mean the unemployment rate???

No, not when you can arbitrarily manipulate variables to affect outcome.

To clarify, I believe the report that 197,000 jobs were created. I don't believe the unemployment rate (U-Rate) is currently 8.9%. I don't believe the rate has ever dropped below 10% since it went above that.

The Mad Crapper
03-04-2011, 10:23 AM
Oh look, like clockwork, the calculated press release LMAO

White House: Jobs data shows Obama policies working

WASHINGTON (Reuters) - White House economist Austan Goolsbee said on Friday the February jobs report showed President Barack Obama's policies were working to improve the economy, but he said more needed to be done to create jobs.

"We will continue to work with Congress to find ways to reduce spending, but not at the expense of derailing progress in the job market," Goolsbee said in a statement.


http://www.reuters.com/article/2011/03/04/us-usa-economy-whitehouse-idUSTRE7233RD20110304?feedType=RSS&feedName=politicsNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Reuters%2FPoliticsNews+%28News+%2F+US+%2F+Politics+News%29

The Mad Crapper
03-04-2011, 10:27 AM
Once you understand the fact that conservatives secretly hate the USA it all makes sense.

Oh by the way, if I was as calculating and devious as liberals are, I could easily just say the improving economy is a result of the R's taking over Congress in November. :p

But I know the numbers are BS so I can't in good faith attribute credit where it isn't due.

dirk digler
03-04-2011, 10:28 AM
This is true. Two points however; the model the BLS is using is over 3 years old. A 2008 pre-recession model is being used on an economy that right now wouldn't be recognizable to the economists who built that model.

Second of all, Obama has infiltrated every single Beauracracy, including the BLS. For example, the labor dept secratary, Solis has publicly stated solidarity with the union protestors in Wisconsin, the AG has filed a lawsuit against Arizona, and Homeland Security won't call the last Islamic terrorist attack-- the murder of two US Airmen--- a "terror attack". We have a FED chairman Bernanke who refuses to acknowledge inflation of our currency.

When you see major federal institutions like that compromised by an extreme leftwing agenda, you have to look at all of them suspect, including the BLS.

Like I said, you don't have to take my word for it, or my theories as to why, just read the CNBC article I linked.

It's common sense.

All I know TMC is if we keep adding this number of jobs or more each month everybody should be happy. That IMHO is the most important thing.

Personally I don't put to much stock in the unemployment number because there is a lot of people that have gave up looking for work.

The Mad Crapper
03-04-2011, 10:31 AM
All I know TMC is if we keep adding this number of jobs or more each month everybody should be happy. That IMHO is the most important thing.

Personally I don't put to much stock in the unemployment number because there is a lot of people that have gave up looking for work.

I'm with you.

I truly believe that businesses would be hiring way more than they are now if the federal government would just get the fuck out of the way.

Unfortunately, we have a president who thinks government should run everything.

dirk digler
03-04-2011, 10:32 AM
Oh look, like clockwork, the calculated press release LMAO

White House: Jobs data shows Obama policies working

WASHINGTON (Reuters) - White House economist Austan Goolsbee said on Friday the February jobs report showed President Barack Obama's policies were working to improve the economy, but he said more needed to be done to create jobs.

"We will continue to work with Congress to find ways to reduce spending, but not at the expense of derailing progress in the job market," Goolsbee said in a statement.


http://www.reuters.com/article/2011/03/04/us-usa-economy-whitehouse-idUSTRE7233RD20110304?feedType=RSS&feedName=politicsNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Reuters%2FPoliticsNews+%28News+%2F+US+%2F+Politics+News%29

Same thing from Cantor. Of course they have been in charge a whole 2 months and haven't passed any bill that would effect the economy for the last 2 months but they are going to take credit.

House Majority Leader Eric Cantor (R-Va.) also said the “encouraging” figures could be chalked up to the GOP, whose members “are taking decisive action to foster a pro-growth environment in this country,” he said in a statement Friday
Read more: http://www.politico.com/news/stories/0311/50662.html#ixzz1FeIjicSz

RedNeckRaider
03-04-2011, 10:39 AM
All I know TMC is if we keep adding this number of jobs or more each month everybody should be happy. That IMHO is the most important thing.

Agreed~

fan4ever
03-04-2011, 10:43 AM
It is pretty much everywhere.

Why is everyone is pissed off about good numbers? Geez you would think this would be a good thing. I don't get it

I own my own business, not eligible for unemployment, and I would love to take this information as solid proof the economy is improving, but it's simply not the case. I continue to see businesses closing, not opening, and my friends losing their jobs, not finding new ones.

And as far as wanting Obama to fail, I prayed for him to have the guidance and the courage to lead this country correctly and to bring us out of one of the most difficult times in our country's history. Unfortunately it looks like my prayers might have to be answered in some other way.

patteeu
03-04-2011, 10:48 AM
:spock: For every silver lining there is a dark thundercloud about to unleash hell on earth.

Climbing out of a recession, especially one as deep as this, will take time, of that there is no doubt. Nor would it likely have gone much faster regardless of McCain or Obama winning the election. I'm encouraged by the decrease in public sector jobs and more than offsetting increase in private sector.

Have you noticed that the economy started it's slide into the abyss around the time people elected a democrat Congress and that it's looking like the beginnings of a rebound now that Republicans are in ascendency?

Saul Good
03-04-2011, 10:54 AM
Same thing from Cantor. Of course they have been in charge a whole 2 months and haven't passed any bill that would effect the economy for the last 2 months but they are going to take credit.

True, but they have served notice that the reckless spending will not go unchecked, and they are challenging Obamacare. Its not always about what bills pass.

Cave Johnson
03-04-2011, 10:55 AM
Have you noticed that the economy started it's slide into the abyss around the time people elected a democrat Congress and that it's looking like the beginnings of a rebound now that Republicans are in ascendency?

JFC, Pat.

How's job growth look under R presidents? I dare you to look up the GDP growth numbers (or stock market performance, for that matter).

http://en.wikipedia.org/wiki/Jobs_created_during_U.S._presidential_terms

KC Dan
03-04-2011, 10:56 AM
This is good news. But, we need >300,000 jobs created a month in the private sector to really have a robust recovery. I think the certainty of little congressional legislative change due to split government is in large part responsible for the private sector ramping up job creation. I know that my company started hiring in late November due to this fact alone. And, don't underestimate the hope that the health care bill defunding will also occur and the extension of tax cuts are having an effect as well.

Cave Johnson
03-04-2011, 10:59 AM
This is good news. But, we need >300,000 jobs created a month in the private sector to really have a robust recovery. I think the certainty of little congressional legislative change due to split government is in large part responsible for the private sector ramping up job creation.<b> I know that my company started hiring in late November due to this fact alone. </b>And, don't underestimate the hope that the health care bill defunding will also occur and the extension of tax cuts are having an effect as well.

*cough, bullshit, cough*

patteeu
03-04-2011, 11:09 AM
All I know TMC is if we keep adding this number of jobs or more each month everybody should be happy. That IMHO is the most important thing.

Personally I don't put to much stock in the unemployment number because there is a lot of people that have gave up looking for work.

5.5 years, dirk. Adding this number of jobs is good, and certainly better than shedding jobs, but no one should be happy with an unemployment rate significantly above 6%.

KC Dan
03-04-2011, 11:11 AM
*cough, bullshit, cough*Whatever smart guy. You haven't a clue how businesses run. I do. Confidence and certainty are everything

patteeu
03-04-2011, 11:11 AM
JFC, Pat.

How's job growth look under R presidents? I dare you to look up the GDP growth numbers (or stock market performance, for that matter).

http://en.wikipedia.org/wiki/Jobs_created_during_U.S._presidential_terms

Did I say presidents? Because I thought I said Congress. You know, the guys in charge of the purse strings.

Yep, here it is. I did say Congress.

Have you noticed that the economy started it's slide into the abyss around the time people elected a democrat Congress and that it's looking like the beginnings of a rebound now that Republicans are in ascendency?

Looks like I caught you trying to change the subject, you sly devil! ;)

FD
03-04-2011, 11:14 AM
This is good news any way you slice it. I don't put any stock into the unemployment rate we are being fed, but 200,000 jobs is 200,000 jobs.

Yep. People love to argue about the unemployment rate but its not that useful taken in isolation. Its best to look at a broad range of labor market indicators. I take today's news as a very positive sign that the labor market is finally showing the same signs of growth the real economy has for some time. Its still not as nearly good as we'd like, but since jobs are typically a lagging variable this is pretty good news.

FD
03-04-2011, 11:16 AM
I'll also add I think this has absolutely nothing to do with either Congress or the President. We'd like to think they have that much control over the forces that drive the economy but its just not true.

Cave Johnson
03-04-2011, 11:16 AM
Did I say presidents? Because I thought I said Congress. You know, the guys in charge of the purse strings.

Yep, here it is. I did say Congress.



Looks like I caught you trying to change the subject, you sly devil! ;)

You've got me. Congressional Democrats were wholly responsible for the collapse of construction employment, the real estate market, and the banking sector from January 2007 to September 2008. Or, for that matter, anemic job growth under W. ;)

Cave Johnson
03-04-2011, 11:17 AM
I'll also add I think this has absolutely nothing to do with either Congress or the President. We'd like to think they have that much control over the forces that drive the economy but its just not true.

We have a winner.

patteeu
03-04-2011, 11:19 AM
You've got me. Congressional Democrats were wholly responsible for the collapse of construction employment, the real estate market, and the banking sector from January 2007 to September 2008. Or, for that matter, anemic job growth under W. ;)

Thank you for your honesty! :toast: :)

FD
03-04-2011, 11:20 AM
Heres a more detailed breakdown from the WSJ:

The February breakdown showed a big gain in construction, a welcome turnaround for a battered sector. Builders added 33,000 jobs last month.

The manufacturing sector also added 33,000 jobs, led by makers of machinery and fabricated metal.

In the services sector, wholesale trade, transportation and warehousing, and professional and business services were big gainers.

Total government employment fell by 30,000 as state and local governments trimmed payrolls.


http://online.wsj.com/article/SB10001424052748703580004576180181465416342.html?mod=WSJ_hp_LEFTTopStories

dirk digler
03-04-2011, 11:23 AM
I own my own business, not eligible for unemployment, and I would love to take this information as solid proof the economy is improving, but it's simply not the case. I continue to see businesses closing, not opening, and my friends losing their jobs, not finding new ones.

And as far as wanting Obama to fail, I prayed for him to have the guidance and the courage to lead this country correctly and to bring us out of one of the most difficult times in our country's history. Unfortunately it looks like my prayers might have to be answered in some other way.

How is your business doing? I hope you are keeping afloat.

I am sure certain areas are worse than others. In my little-mid sized town we have had 3 business open up in the last month and none closing. I was actually kind of surprised at that

dirk digler
03-04-2011, 11:36 AM
5.5 years, dirk. Adding this number of jobs is good, and certainly better than shedding jobs

That is all you had to say.

The Mad Crapper
03-04-2011, 11:46 AM
And as far as wanting Obama to fail, I prayed for him to have the guidance and the courage to lead this country correctly and to bring us out of one of the most difficult times in our country's history. Unfortunately it looks like my prayers might have to be answered in some other way.

:thumb:

I agree. I truly wish Penchief and jAZ and Direkshun could be here every day, filling the board up with thread after thread of how great a job Obama is doing. I'd gladly eat crow.

Unfortunately, B.O. is who we all knew he was. Raiduhs

fan4ever
03-04-2011, 11:53 AM
How is your business doing? I hope you are keeping afloat.

I am sure certain areas are worse than others. In my little-mid sized town we have had 3 business open up in the last month and none closing. I was actually kind of surprised at that

I'm hanging in there but did some things I really didn't want to do. Was only 6years away from having my mortgage paid off, but refinanced a couple of years ago and took money out to make sure I could stay afloat. I'm fortunate to have different revenue streams, but I've had to be smart about the moves I make. I'm much more fortunate than most and feel very blessed to be in the situation I am with so many out there so worse off

Thanks for asking.

fan4ever
03-04-2011, 11:55 AM
:thumb:

I agree. I truly wish Penchief and jAZ and Direkshun could be here every day, filling the board up with thread after thread of how great a job Obama is doing. I'd gladly eat crow.

Unfortunately, B.O. is who we all knew he was. Raiduhs

Exactly; you'd have to be pretty damn egocentric to hope the nation suffered so your party could occupy the White House...

eazyb81
03-04-2011, 11:59 AM
Un f'n believable.

http://thehill.com/blogs/on-the-money/801-economy/147511-positive-jobs-report-becomes-ammo-in-fight-over-spending

The White House has seized on the most positive jobs report in months to argue that GOP cuts to federal spending could stifle economic growth just as it appears the labor market is at last strengthening.

HonestChieffan
03-04-2011, 11:59 AM
Change the denominator till the answer is right......Happy Dance!!!

Suckers.

dirk digler
03-04-2011, 12:06 PM
I'm hanging in there but did some things I really didn't want to do. Was only 6years away from having my mortgage paid off, but refinanced a couple of years ago and took money out to make sure I could stay afloat. I'm fortunate to have different revenue streams, but I've had to be smart about the moves I make. I'm much more fortunate than most and feel very blessed to be in the situation I am with so many out there so worse off

Thanks for asking.

That is good to hear that you are hanging in there. I am actually thinking about starting my own business because I am tired of being a worker bee for incompetent people.

dirk digler
03-04-2011, 12:07 PM
Change the denominator till the answer is right......Happy Dance!!!

Suckers.

God forbid you can't be happy that 200,000 people got jobs :shake:

FD
03-04-2011, 12:09 PM
Change the denominator till the answer is right......Happy Dance!!!

Suckers.

What denominator is there in the number 200,000?

The Mad Crapper
03-04-2011, 12:17 PM
Oh look, like clockwork, the calculated press release LMAO

White House: Jobs data shows Obama policies working

WASHINGTON (Reuters) - White House economist Austan Goolsbee said on Friday the February jobs report showed President Barack Obama's policies were working to improve the economy, but he said more needed to be done to create jobs.

"We will continue to work with Congress to find ways to reduce spending, but not at the expense of derailing progress in the job market," Goolsbee said in a statement.


http://www.reuters.com/article/2011/03/04/us-usa-economy-whitehouse-idUSTRE7233RD20110304?feedType=RSS&feedName=politicsNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Reuters%2FPoliticsNews+%28News+%2F+US+%2F+Politics+News%29

This is what Goolsbee is so beaming proudly about looks like on a chart:

http://static2.businessinsider.com/image/4d71199c4bd7c8e877110000/chart-of-the-day-scariest-jobs-ever-march-2011.jpg


http://www.businessinsider.com/chart-of-the-day-percent-job-losses-in-post-wwii-recessions-2011-3

:facepalm:

Un f'n believable.

http://thehill.com/blogs/on-the-money/801-economy/147511-positive-jobs-report-becomes-ammo-in-fight-over-spending

It's disgraceful.

patteeu
03-04-2011, 12:22 PM
What denominator is there in the number 200,000?

Is 200,000 a big number or a small number and how can you tell?

FD
03-04-2011, 12:29 PM
Is 200,000 a big number or a small number and how can you tell?

You can look at historical job growth for one thing:

http://research.stlouisfed.org/fred2/graph/fredgraph.png?&chart_type=line&graph_id=&category_id=&recession_bars=On&width=630&height=378&bgcolor=%23B3CDE7&graph_bgcolor=%23FFFFFF&txtcolor=%23000000&ts=8&preserve_ratio=true&fo=ve&id=PAYEMS&transformation=ch1&scale=Left&range=Custom&cosd=1994-01-01&coed=2011-02-01&line_color=%230000FF&link_values=&mark_type=NONE&mw=4&line_style=Solid&lw=1&vintage_date=2011-03-04&revision_date=2011-03-04&mma=0&nd=&ost=&oet=&fml=a&fq=Monthly&fam=avg&fgst=lin

From this it looks like job growth is high but not that high. For comparison, its higher than job growth coming out of the past recession in the early 2000's, but lower than growth numbers that were common in the 1990's. To me, the most promising aspect is the trend.

patteeu
03-04-2011, 12:32 PM
You can look at historical job growth for one thing:

From this it looks like job growth is high but not that high. For comparison, its higher than job growth coming out of the past recession in the early 2000's, but lower than growth numbers that were common in the 1990's. To me, the most promising aspect is the trend.

Yes, if the trend can be maintained, it's positive.

HonestChieffan
03-04-2011, 12:49 PM
How is your business doing? I hope you are keeping afloat.

I am sure certain areas are worse than others. In my little-mid sized town we have had 3 business open up in the last month and none closing. I was actually kind of surprised at that

I heard a rumor Everharts was closed or closing

stevieray
03-04-2011, 12:58 PM
That is good to hear that you are hanging in there. I am actually thinking about starting my own business because I am tired of being a worker bee for incompetent people.

they are prolly tired of paying you to be here.

sounds like a win/win.

how many jobs have been lost?

Saul Good
03-04-2011, 02:07 PM
Not to totally derail the thread, but did someone hack into SPRAYER's account? This thread is loaded with him posting information, giving his own analysis, and having friendly dialogue with posters on both sides.

Am I the only one seeing this? Kudos to the new and improved SS.

dirk digler
03-04-2011, 02:28 PM
I heard a rumor Everharts was closed or closing

Nope. Actually they built a brand new building right past the 7 & 13 junction and moved into it a 6 months ago or so

dirk digler
03-04-2011, 02:29 PM
they are prolly tired of paying you to be here.

sounds like a win/win.

how many jobs have been lost?

They don't care they know they are getting me at a super discount.

We haven't let go of anybody.

How is your work place is it shedding jobs?

Cave Johnson
03-04-2011, 02:55 PM
This is what Goolsbee is so beaming proudly about looks like on a chart:

http://static2.businessinsider.com/image/4d71199c4bd7c8e877110000/chart-of-the-day-scariest-jobs-ever-march-2011.jpg

We just went through the biggest recession since the Great Depression??? OMG!

Thanks for that tidbit.

stevieray
03-04-2011, 02:56 PM
They don't care they know they are getting me at a super discount.

We haven't let go of anybody.

How is your work place is it shedding jobs?

my trade has been hit very hard.

good luck if you venture out on your own. I made it for 12 years.

Mr. Flopnuts
03-04-2011, 03:05 PM
God forbid you can't be happy that 200,000 people got jobs :shake:

LMAO Do you honestly think he (or many others in this forum) give a shit about anything, or anybody but himself? Come on man.

The Mad Crapper
03-04-2011, 03:38 PM
We just went through the biggest recession since the Great Depression??? OMG!

Thanks for that tidbit.

Goolsbee was the one beaming about it, bub.