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Dismal Jobs Report - 74,000 non-farm Jobs Added
Posted on 1/10/14 at 8:38 am
Posted on 1/10/14 at 8:38 am
62.8% Job Participation rate, the lowest since 1978. This is one anemic recovery. And LONG.
5
Posted on 1/10/14 at 8:40 am to ynlvr
quote:
62.8% Job Participation rate, the lowest since 1978.
Its been this way for the past few years... That is the ONLY reason the unemployment % is dropping.
I think someone figured it out and if the participation rate was the same that it was in the 04/05 range when it was a "jobless recovery" at 5% unemployment, the number today would be in the 9-10% range
Posted on 1/10/14 at 10:10 am to Lsut81
I found it interesting that CNN reported the 6.7% as "sour."
It's funny how the media portrays unemployment when they have an agenda. This same news two years ago would have been considered a victory with the job participation rate not even being mentioned.
It's funny how the media portrays unemployment when they have an agenda. This same news two years ago would have been considered a victory with the job participation rate not even being mentioned.
Posted on 1/10/14 at 12:32 pm to ynlvr
quote:
This is one anemic recovery. And LONG.
I dunno about that. I think the recovery is fine and jobless rates and job participation are poor indicators. Hell, the CEO of PIMCO said as much yesterday as well when he said he has no idea why people are focusing on jobs numbers anymore.
Times have changed. A lower paricipation rate is here to stay.
Posted on 1/10/14 at 12:39 pm to Tiger n Miami AU83
quote:
I think the recovery is fine and jobless rates and job participation are poor indicators.
quote:
A lower paricipation rate is here to stay
What do you think a low participation rate means for the health of our economy?
Think that will positively or negatively affect the deficit?
I'll hang up and listen.
Posted on 1/10/14 at 1:02 pm to Oenophile Brah
quote:
What do you think a low participation rate means for the health of our economy? Think that will positively or negatively affect the deficit? I'll hang up and listen.
Low participation to me would mean more people on government assistance and this would negatively affect the deficit.
Posted on 1/10/14 at 1:26 pm to ynlvr
I also believe its here to stay, and continue a steady drop. Maybe "plateau" (or valley) in the high 50's.
It doesn't matter who's in the WH or congress. With technology and new work models, companies are getting by and making handsome profits with fewer employees than pre-recession.
It doesn't matter who's in the WH or congress. With technology and new work models, companies are getting by and making handsome profits with fewer employees than pre-recession.
Posted on 1/10/14 at 3:11 pm to ynlvr
quote:economy grew 3.5% and 4.1% last quarters
This is one anemic recovery. And LONG.
Posted on 1/10/14 at 3:51 pm to Tiger n Miami AU83
quote:
Times have changed. A lower paricipation rate is here to stay.
The 'new normal'. I heard the same thing during Carter.
Posted on 1/10/14 at 4:50 pm to HailHailtoMichigan!
I don't know Hail, I miss 3% plus "Real" Gdp Growth from the old days. This last 8 years has been the longest stretch of below 3% since the 30's. I hope recent upticks become a trend and not a blip.
Historical Annual Real GDP Growth
Historical Annual Real GDP Growth
Posted on 1/11/14 at 2:04 am to ynlvr
quote:
This is one anemic recovery. And LONG.
I remember a poster on here--during the beginnings of the Great Recession--stating that we may not begin to see a turnaround until 2014. I can't believe how grimly correct his forecast was.
Posted on 1/11/14 at 8:08 am to shutterspeed
Extending unemployment benefits will spur job growth 
Posted on 1/11/14 at 9:11 am to Zach
quote:
The 'new normal'. I heard the same thing during Carter.
True. We were told by the Carter administration to dial back expectations for the good of mankind. Then we threw Carter out, ushered in new administrations, grew the economy for the next twenty five years for the good of mankind creating an all boats rise economy.
Unintended consequences of the federal push to increase homeownership to the masses, especially those on the margin who could not afford it, built the unsustainable house of cards that came crashing down in 2007. The cycle will repeat itself if we continue to think government control and distribution is the solution.
Posted on 1/11/14 at 12:23 pm to ynlvr
If American workers were more reliable and did quality work, you'd see production coming back here. As an employer, I'm willing to pay for quality work. Unfortunately, it seems like 99% of the workforce wants to do just enough to get by, but then wants outrageous benefits and high pay.
Posted on 1/11/14 at 1:21 pm to SmackoverHawg
quote:
SmackoverHawg
You are spot on re: employee skills match. This is a very troubling theme hawked by a large contingent of domestic employers. Mid to High level skilled jobs go unfilled or begging for talent. And our education system is failing us.
Yes, I realize this topic is straddling the Poli-Money Talk boards but the lines get blurry when discussing the dismal science.
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