Some employment/economic numbers from the last month/quarter/year.

[Direckshun]

As the recovery continues. There's a bunch of stuff on this but they don't all warrant their own threads so here's a compendium of economic information.

The economy last year experienced a net-improvement of 2.17 million jobs (private sector gained 2.24), which is better than every single year of the Bush Presidency except one (2005).

The jobs report of the fourth quarter of 2012 has been revised upward, now saying we added 600,000+ jobs from October through December.

The GDP actually contracted 0.1% in that quarter, however. The first contraction in 13 quarters -- though revisions will probably change that to a slight expansion -- largely because of Hurricane Sandy and vast layoffs in the defense sector.

The initial estimate is that we added 157,000 jobs in January. The unemployment rate actually jumped, however, from 7.8% to 7.9%. As the economy gets better, more people are entering the job market.

The government continues to be the main holder-backer of a faster recovery, as reduced government payrolls have weighed down employment figures.

The Institute for Supply Management said its index of Manufacturing activity grew to 53.1, according to the Institute for Supply Management, which is a big jump up.

The Dow jumped above 1,500 earlier this month. After today's jobs report, it launched above 1,400.

What's driving the jump up in employment? Mostly, construction, buoyed by about 30,000 new hires, which indicates more homes are being built.





You're welcome.

[patteeu]

Originally Posted by Direckshun

Four full years, actually.

As if that needed to be said.

It's actually been more than five, but I assume Prison is starting from around the time the 2008 campaign season heated up.

[chiefzilla1501]

Can anyone explain the massive spike in mining/logging jobs in that chart?

Could some of the boom be attributed to the massive reserves in natural gas, or is that considered a totally different sector?

[Prison Bitch]

Originally Posted by Direckshun

Four full years, actually.

As if that needed to be said.

Now back to the point: he said Presidents don't impact the economy. But nearly every democrat says Bush ruined the economy. Please tell me which statement is correct.

[KC native]

Originally Posted by Prison Bitch

Now back to the point: he said Presidents don't impact the economy. But nearly every democrat says Bush ruined the economy. Please tell me which statement is correct.

No nearly every Deomcrat does not say that. I see you've gone to the frazzled school of debate. Just make up your opponent's positions and argue against that.

FTR, I am not a member of either political party. The two party system is a big part of the problem.

[mlyonsd]

Originally Posted by KC native

No nearly every Deomcrat does not say that. I see you've gone to the frazzled school of debate. Just make up your opponent's positions and argue against that.

FTR, I am not a member of either political party. The two party system is a big part of the problem.

Wow.

[Prison Bitch]

Amazing.

[JohnnyV13]

Originally Posted by chiefzilla1501

Can anyone explain the massive spike in mining/logging jobs in that chart?

Could some of the boom be attributed to the massive reserves in natural gas, or is that considered a totally different sector?

Mining is way up due to spikes in commodity prices. Changes in the profit margins for precious metals and industrial commodities make some mining projects profitable which were unworkable before.

[mlyonsd]

Since things are going so good can we get an update on how debt reduction is going?

Any projections where it will actually recede?

5 years?
10 years?
20 years?
My lifetime? (I'm hoping for another 30)

[Direckshun]

We've been through that before on this forum.

You're seriously criticizing Obama for failing to cut a trillion dollars into the annual deficit in four years. That's assinine.

Deficit reduction retards growth. Not even you deny that.

We are still a ways from reaching pre-recession levels, and we've already enacted 2.4 trillion in deficit reduction.

Deficit reduction, right now, is not our primary concern. Our primary concern is unemployment.

[HonestChieffan]

Originally Posted by mlyonsd

Wow.

The list of democrat supporters of GWB is legendary.

[mlyonsd]

Originally Posted by Direckshun

We've been through that before on this forum.

You're seriously criticizing Obama for failing to cut a trillion dollars into the annual deficit in four years. That's assinine.

Deficit reduction retards growth. Not even you deny that.

We are still a ways from reaching pre-recession levels, and we've already enacted 2.4 trillion in deficit reduction.

Deficit reduction, right now, is not our primary concern. Our primary concern is unemployment.

So what you're saying is we aren't doing so well. And Obama isn't doing so well on his campaign promise of cutting the deficit in half by year 4 of his presidency.

Got it. I'll check back later to ask again.

[Direckshun]

Originally Posted by mlyonsd

So what you're saying is we aren't doing so well. And Obama isn't doing so well on his campaign promise of cutting the deficit in half by year 4 of his presidency.

Waaaaaaaaaay too simple a way to explain it. Really.

We are recovering from the recession, recovering at a slow pace because our government doesn't seem to want to spend any money to stimulate it anymore, but does want to dig into the deficit trillions of dollars at a time.

Nonetheless, the CBO projects that despite all of this, the Obama presidency will conclude in 2016 in the low 6%.

I don't know what standards you're using to say "we aren't doing so well," but that's not a bad job considering he's dealing with a Congress that refuses to stimulate the economy. Immigration reform is really our only hope at this point unless the GOP embraces a vast infrastructure project.

As for the deficit, because we've been so ass backwards in our priorities, we're going to have like a $400B deficit in 2014 according to the latest CBO projections.

So cutting the deficit in half in four years didn't happen. But cutting it by two-thirds could happen in six. I'm guessing you'd take that deal.

[mlyonsd]

Originally Posted by Direckshun

Waaaaaaaaaay too simple a way to explain it. Really.

We are recovering from the recession, recovering at a slow pace because our government doesn't seem to want to spend any money to stimulate it anymore, but does want to dig into the deficit trillions of dollars at a time.

Nonetheless, the CBO projects that despite all of this, the Obama presidency will conclude in 2016 in the low 6%.

I don't know what standards you're using to say "we aren't doing so well," but that's not a bad job considering he's dealing with a Congress that refuses to stimulate the economy. Immigration reform is really our only hope at this point unless the GOP embraces a vast infrastructure project.

As for the deficit, because we've been so ass backwards in our priorities, we're going to have like a $400B deficit in 2014 according to the latest CBO projections.

So cutting the deficit in half in four years didn't happen. But cutting it by two-thirds could happen in six. I'm guessing you'd take that deal.

Stimulate the economy how? Just where would you spend the money expecting to get a payback that would reduce the debt?

What does the CBO project for a deficit in 2020? That isn't really that far off.

And no, I wouldn't take that deal. I'm on record saying all Obama tax cuts should expire and we take our medicine now.

You and your party want to kick the can down the road only for political gain no matter what collateral damage you cause. Just admit it.

[KC native]

Originally Posted by mlyonsd

Stimulate the economy how? Just where would you spend the money expecting to get a payback that would reduce the debt?

What does the CBO project for a deficit in 2020? That isn't really that far off.

And no, I wouldn't take that deal. I'm on record saying all Obama tax cuts should expire and we take our medicine now.

You and your party want to kick the can down the road only for political gain no matter what collateral damage you cause. Just admit it.

Why are you only fixated on our level of debt?

[mlyonsd]

Originally Posted by KC native

Why are you only fixated on our level of debt?

When it gets to a certain point you become Greece.

There is nothing in our future that indicates we can tolerate trillion dollar a year interest payments and keep our standard of living.

Nothing.