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Posted on 12/8/16 at 10:54 am to VOLhalla
quote:
Your numbers are "stagnant" because they include the worst economic collapse since the Great Depression. What's job growth been since the bottom of the recession?
And the recovery has been stagnant.... You have to have about 300k+ jobs added per month just to keep up with population growth. We've been averaging around 180k. STAGNATION
Feel free to keep arguing and making excuses for the statistics though.
Posted on 12/8/16 at 10:55 am to VOLhalla
quote:
It IS reported that way. The number announced each month is the net increase or decrease. It's been 81 consecutive months of private-job net growth btw. Longest streak in US history.
That's not some big feat coming out of a recession. And i assume you think adding 3k jobs in may was a great success? You ever heard of the work population ratio?
Biggest factors affecting growth are healthcare, education, and housing and all 3 have been failing. See my other thread on this page for the statistics.
This post was edited on 12/8/16 at 10:56 am
Posted on 12/8/16 at 10:59 am to BugAC
The recovery has been significantly slower than normal recoveries because the government interfered, passed a stimulus, and prevented further economic collapse in 2009. The normal U-shaped economic pattern doesn't apply to the 2009 collapse because of the governmental intervention. This is basic macroeconomics.
ETA: this idea that the US economy needs to add 300,000 jobs per month is insane.
Also, in really good news, economic pressure to increase wages is increasing. We are likely to see an increase in median wages early next year. Just in time for Trump to claim credit!
ETA: this idea that the US economy needs to add 300,000 jobs per month is insane.
Also, in really good news, economic pressure to increase wages is increasing. We are likely to see an increase in median wages early next year. Just in time for Trump to claim credit!
This post was edited on 12/8/16 at 11:04 am
Posted on 12/8/16 at 10:59 am to stout
We counting the jobs "created" by cannibalizing future efforts in the process?
By that, I mean car jobs "saved" through new sales from "Cash For Clunkers" which cannibalize future new car sales and parts sales for used cars, burning through all approved construction jobs in the short term as part of the "stimulus" of "shovel ready jobs", etc.
About the only jobs created by him without a set end date were Burger Fool jobs and support for ObamaCare policies and exchanges. And Trump has set out to kill the latter while big labor is trying to kill the former with the $15 minimum wage push.
By that, I mean car jobs "saved" through new sales from "Cash For Clunkers" which cannibalize future new car sales and parts sales for used cars, burning through all approved construction jobs in the short term as part of the "stimulus" of "shovel ready jobs", etc.
About the only jobs created by him without a set end date were Burger Fool jobs and support for ObamaCare policies and exchanges. And Trump has set out to kill the latter while big labor is trying to kill the former with the $15 minimum wage push.
Posted on 12/8/16 at 11:01 am to VOLhalla
And the other problem here is that economic policy tended to be dictated by people whose only economic philosophies were by Marx and Keynes.
Obama has been getting pimp slapped by Adam Smith's invisible hand as a result.
Obama has been getting pimp slapped by Adam Smith's invisible hand as a result.
Posted on 12/8/16 at 11:02 am to VOLhalla
quote:
The recovery has been significantly slower than normal recoveries because the government interfered, passed a stimulus, and prevented further economic collapse in 2009. The normal U-shaped economic pattern doesn't apply to the 2009 collapse because of the governmental intervention. This is basic macroeconomics.
False. Govt interference always occurs during a recession. They can't help themselves. Nonetheless all recoveries in history have been better than the last 8 years.
As for the BS argument about consecutive quarters of positive growth... that's so stupid I'm going to have to use an analogy.
Biff Boomer is a tailback in the NFL. He breaks the all time record for consecutive carries without being thrown for a loss. He carried the ball 324 times and gained 324 yards for an average of 1.0 yards per carry.
Obama's world.. Biff is the greatest ever.
The real world... Biff gets cut and never plays again.
Posted on 12/8/16 at 11:03 am to VOLhalla
quote:
The number announced each month is the net increase or decrease
I've already said that's fine - net results. Do you know the gross amount of jobs created last month and the gross number of jobs lost? That's the info we never see. We hear about where the jobs created go to but when was the last time we heard where the jobs were lost?
I guess some of us, me anyway, are a little more concerned about the guy who lost his job as opposed to the one who found a job.
Posted on 12/8/16 at 11:05 am to Jwho77
quote:
The very first month Trump is in office, they need to make sure the monthly report is a truthful one. Enough of hiding the truth through selective stats and number manipulation
He needs to do an address from the Oval Office the day after his inauguration announcing that he was instructing his Secretary of Labor (and the head of BLS) to start using the U6 unemployment rate so that the "numbers" from the government will be more honest and the public should expect to see a "jump" in the unemployment rate for the month of February (and going forward), but that is actually a government unemployment number that has always been there, just not used for "appearances." He should reiterate his promise never to lie to the American people.
Posted on 12/8/16 at 11:06 am to Zach
There are different kinds of government interference
The best kind is Coolidge stepping out of the way and letting the mess correct itself.
The next best is someone like Reagan removing fricking stupid policies to encourage growth and redirecting resources from useless "make-work" to projects which benefit the nation better.
The real stupidity comes when they try to put in price controls and/or artificially pump up highly inefficient things like pushing solar hard at the expense of coal, gas, and nuclear.
The best kind is Coolidge stepping out of the way and letting the mess correct itself.
The next best is someone like Reagan removing fricking stupid policies to encourage growth and redirecting resources from useless "make-work" to projects which benefit the nation better.
The real stupidity comes when they try to put in price controls and/or artificially pump up highly inefficient things like pushing solar hard at the expense of coal, gas, and nuclear.
Posted on 12/8/16 at 11:06 am to Homesick Tiger
Monthly jobs reports have details as to specific industry growth/decline. New economic reports show that wage increases are likely and latest GDP growth is around 3%. Trump is inheriting the healthiest economy in a long time
Posted on 12/8/16 at 11:09 am to VOLhalla
How much of the latest gains are because people see the light at the end of the tunnel with Trump replacing Obama?
Christ, Trump hasn't even been inaugurated yet and he has already sparked more growth in a month than Obama has in years.
Christ, Trump hasn't even been inaugurated yet and he has already sparked more growth in a month than Obama has in years.
Posted on 12/8/16 at 11:15 am to teke184
The pressure to increase wages comes as we close in on maximum employment. It has nothing to do with the election.
This post was edited on 12/8/16 at 11:16 am
Posted on 12/8/16 at 11:18 am to Cruiserhog
They also don't count someone as unemployed if they quit looking for work.
Posted on 12/8/16 at 11:19 am to Cruiserhog
Ahhh, the I don't have an argument, so you're a racist. Typical democrat.
Posted on 12/8/16 at 11:25 am to VOLhalla
quote:
Trump is inheriting the healthiest economy in a long time
Say what now?
Posted on 12/8/16 at 11:26 am to VOLhalla
quote:
maximum employment
I assume you mean full employment. And it's smoke and mirrors fyi.
Source: Me. I teach economics.
Posted on 12/8/16 at 11:28 am to stout
That number is in the negative.
Posted on 12/8/16 at 11:33 am to stout
He plays enough golf for at least one full time caddy. So my answer is one!
Posted on 12/8/16 at 11:49 am to Broke
I did mean full employment. I was typing something else completely and tried to edit on my phone. Good call
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