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Thread: U.S. Unemployment Rate Drops to Lowest Since December 2008

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  1. #1

    U.S. Unemployment Rate Drops to Lowest Since December 2008

    http://www.washingtonpost.com/busine...fd5_story.html

    The national unemployment rate fell to 7.7 percent from 7.9 percent, and the nation added 146,000 jobs, not the mere 85,000 that forecasters had expected.

    Indeed, the job market has been remarkably consistent over the past year, adding an average of 157,000 jobs a month — well above the level needed to keep pace with a growing labor force, but slow enough that it would still take years to bring unemployment down to the 5 percent to 6 percent range.
    Just keep swimming!




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  3. #2
    Meanwhile, in real world America, the labor force participation rate dropped again. http://data.bls.gov/timeseries/LNS11300000
    Rand Paul 2016

  4. #3
    Quote Originally Posted by ronpaulfollower999 View Post
    Meanwhile, in real world America, the labor force participation rate dropped again. http://data.bls.gov/timeseries/LNS11300000
    The unemployment numbers are gonna look real good once the baby boomers retire and the abortion gap kicks in. Unless..

  5. #4
    Quote Originally Posted by Jordan View Post
    Just keep swimming!
    That is the Keynesian Ponzi Enslavement mantra to be sure.

    Homebuilders have a big problem: too few workers!
    Started by Jordan‎, Today
    Why we should get rid of the debt ceiling
    Started by Jordan‎, Today
    Household Wealth Rises to Near 2007 High
    Started by Jordan‎, Yesterday
    U.S. is becoming top low cost energy destination for big business
    Started by Jordan‎, Yesterday
    Construction Spending up 9.6% Year over Year
    Started by Jordan‎, 12-03-2012
    November Car Sales Could Hit Pace Not Seen Since 2008
    Started by Jordan‎, 11-28-2012



    Merry Trollness, Jordan.

  6. #5
    Quote Originally Posted by Steven Douglas View Post
    That is the Keynesian Ponzi Enslavement mantra to be sure.

    Homebuilders have a big problem: too few workers!
    Started by Jordan‎, Today
    Why we should get rid of the debt ceiling
    Started by Jordan‎, Today
    Household Wealth Rises to Near 2007 High
    Started by Jordan‎, Yesterday
    U.S. is becoming top low cost energy destination for big business
    Started by Jordan‎, Yesterday
    Construction Spending up 9.6% Year over Year
    Started by Jordan‎, 12-03-2012
    November Car Sales Could Hit Pace Not Seen Since 2008
    Started by Jordan‎, 11-28-2012



    Merry Trollness, Jordan.
    our in house devil's advocate
    Last edited by Tpoints; 12-07-2012 at 05:10 PM.

  7. #6
    Quote Originally Posted by Steven Douglas View Post
    That is the Keynesian Ponzi Enslavement mantra to be sure.

    Homebuilders have a big problem: too few workers!
    Started by Jordan‎, Today
    Why we should get rid of the debt ceiling
    Started by Jordan‎, Today
    Household Wealth Rises to Near 2007 High
    Started by Jordan‎, Yesterday
    U.S. is becoming top low cost energy destination for big business
    Started by Jordan‎, Yesterday
    Construction Spending up 9.6% Year over Year
    Started by Jordan‎, 12-03-2012
    November Car Sales Could Hit Pace Not Seen Since 2008
    Started by Jordan‎, 11-28-2012



    Merry Trollness, Jordan.
    Those are all relevant topics for a forum on economics, no?

  8. #7
    Quote Originally Posted by Jordan View Post
    Those are all relevant topics for a forum on economics, no?
    relevant, definitely. Not the tone this board is used to hearing

  9. #8
    Quote Originally Posted by Tpoints View Post
    relevant, definitely. Not the tone this board is used to hearing
    They all reference obviously inaccurate data. Just sayin'.
    I am the spoon.



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  11. #9
    Quote Originally Posted by Jordan View Post
    Those are all relevant topics for a forum on economics, no?
    Economics & Sound Money

    That would be the formal name of this forum; two issues that are fully intertwined and absolutely inseparable, despite some very bizarre (albeit mainlined mainstream) fantasies to the contrary.

    There's nothing generic or unbiased about this forum, no secret there. We're all about economics, and especially as it relates to sound money. You're playing dumb, as if you're in the ACME Economics Forum, even while you actively cheerlead for a Keynesian-spawned Ponzi Economy in a Ron Paul Forum, of all places.

    But that's just Captain Obvious from the Department of Redundancy Department to Obvious Troll, telling him that he's being Obvious.

    There's nothing wrong with contrary opinions that go against the "mainstream" (whatever that is based on locale, or, "When in Rome, at the least remember that mostly Romans are there."). If you were forthright, however, you could have your obvious pot-stirring digs in a much more forthright way--like, acknowledging up front the intended effect you knew your $#@! was going to have (you're stupid if you think anyone is that stupid), and throwing down a real gauntlet. The effect would be the same, of course, as debates and arguments would ensue in much the same way. But your stock would go up, because you will have shown a respect for the fact that people aren't stupid, and honest disagreement could still take place. Instead, here you are, with everyone fully aware that you are tossing in grenades, while simultaneously playing a poop-stupid intelligence-insulting game of "Huh? Wha? I tot dis wuz a ekanomiks forum!" ::: cue really bad impression of Dr. Evil batting goofy eyes with an innocent finger to the lips :::
    Last edited by Steven Douglas; 12-07-2012 at 06:52 PM.

  12. #10
    Quote Originally Posted by Steven Douglas View Post
    Economics & Sound Money

    That would be the formal name of this forum; two issues that are fully intertwined and absolutely inseparable, despite some very bizarre (albeit mainlined mainstream) fantasies to the contrary.

    There's nothing generic or unbiased about this forum, no secret there. We're all about economics, and especially as it relates to sound money. You're playing dumb, as if you're in the ACME Economics Forum, even while you actively cheerlead for a Keynesian-spawned Ponzi Economy in a Ron Paul Forum, of all places.

    But that's just Captain Obvious from the Department of Redundancy Department to Obvious Troll, telling him that he's being Obvious.

    There's nothing wrong with contrary opinions that go against the "mainstream" (whatever that is based on locale, or, "When in Rome, at the least remember that mostly Romans are there."). If you were forthright, however, you could have your obvious pot-stirring digs in a much more forthright way--like, acknowledging up front the intended effect you knew your $#@! was going to have (you're stupid if you think anyone is that stupid), and throwing down a real gauntlet. The effect would be the same, of course, as debates and arguments would ensue in much the same way. But your stock would go up, because you will have shown a respect for the fact that people aren't stupid, and honest disagreement could still take place. Instead, here you are, with everyone fully aware that you are tossing in grenades, while simultaneously playing a poop-stupid intelligence-insulting game of "Huh? Wha? I tot dis wuz a ekanomiks forum!" ::: cue really bad impression of Dr. Evil batting goofy eyes with an innocent finger to the lips :::
    SD, I'm not playing dumb. I'm not that intelligent. If you think I'm playing dumb, then I'm probably just dumb.

    I enjoy posting interesting economic news as I find it. You don't have to participate. You don't have to be angry that I'm posting it. I think there's a way to hide all my posts from your view of the forum when you log in, which would mean you don't even have to see what I post!

    I'm sorry you're so offended with material that doesn't share the same view of the world as you have. Try not to take it so personally. I don't.

  13. #11
    Quote Originally Posted by Tpoints View Post
    our in house devil's advocate
    Oh, we have more than one.
    Rand Paul 2016

  14. #12
    What is the actual U.S. employment rate (it's a ratio of individuals/families/household/homeless or sometin')?

    How many of those that are employed are working for (or contracted by/supplying mostly to) government?

  15. #13

    Thumbs down

    Uh...I dont think so. people have stopped looking so are not counted.

    http://finance.yahoo.com/blogs/the-e...165711644.html

    Workers Are Discouraged

    In the weakest recovery since the Great Depression, most of the reduction in unemployment from its 10.0 percent peak in October 2009 has been accomplished through a significant drop in the percentage of adults working or looking for work. Were adult labor-force participation the same today, the unemployment rate would be 9.7 percent.

    Adding more than 8 million part-time workers who can't find full-time work, the unemployment rate becomes 14.4 percent. It rose above 14 percent in the wake of the financial crisis and remains stuck there.

    Convincing millions of Americans they don't want a job or compelling desperate workers to settle for part-time work has been the Obama Administration's most effective jobs program.


    and this part bears repeating...

    Adding more than 8 million part-time workers who can't find full-time work, the unemployment rate becomes 14.4 percent. It rose above 14 percent in the wake of the financial crisis and remains stuck there.
    Last edited by Pauls' Revere; 12-07-2012 at 10:45 PM.

    We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!

  16. #14
    Anyway, back to the subject at hand, it's good to see that unemployment is down. Sure, the labor force shrank, but that's good news too - it means people are confident in their retirement plans or wealthy enough they don't need to work.

  17. #15
    Quote Originally Posted by Jordan View Post
    Anyway, back to the subject at hand, it's good to see that unemployment is down. Sure, the labor force shrank, but that's good news too - it means people are confident in their retirement plans or wealthy enough they don't need to work.
    Ok. You're trolling. Period.
    I am the spoon.

  18. #16
    LOL! Real unemployment has to be pushing 25% by now. Underemployment another 25% (pulling this underemployment number out of my ass).
    I am the spoon.



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  20. #17
    The figures were mixed. There were more new jobs created than expected but most of the drop in the unemployment rate was due to fewer people particpating in the work force. Some of that was due to Storm Sandy. If people were not able to look for work due to the storm, they were counted as not in the work force.

  21. #18
    Quote Originally Posted by John F Kennedy III View Post
    Ok. You're trolling. Period.
    Nope, we just have a different perspective.

    Quote Originally Posted by Steven Douglas View Post
    Perhaps you are as dumb a fox, who knows.

    Oh, I don't mind at all, and I will participate (another Captain Obvious observation). Wouldn't miss it for the world, you're the straw that stirs the drink!

    Nice reframing attempt, but I already said that the material isn't the problem--only the intelligence-insulting way that it's presented ("Wut? I just find innersting stuffs about ekanomics, tha's all!"). But you stayed in character, as I figured you might, and denied it. I accept that on face value, and we can all form our own opinions about it.

    Yeah, good news all around, eh? Can't you just smell all the hope and change in the air. It's intoxicating. Everything is looking up, sunny skies from here on in are the limit!
    I find it interesting that because I have a different view on the issues I am automatically here for some nefarious scheme.

  22. #19
    Rainbows and lollypops for everybody!

    Wheee, whadda ride...

  23. #20
    Quote Originally Posted by Jordan View Post
    I find it interesting that because I have a different view on the issues I am automatically here for some nefarious scheme.
    ::: spitting out the idiotic words you put in my mouth :::

    Once again there's the attempt to frame what I said as somehow being about the mere fact that you have or express a different view. Wouldn't that be fun to debate instead? Why, that would be so easy to knock out of the park, wouldn't it?

    Three strikes, you're now being obtuse. Go back and reread, this time applying whatever comprehension and critical thinking skills you have to what I actually wrote. (Hint: part of it starts with "There's nothing wrong with contrary opinions...")

  24. #21
    Quote Originally Posted by Steven Douglas View Post
    ::: spitting out the idiotic words you put in my mouth :::
    Don't you just hate that? It happens to be one of my major pet peeves. And a few too many of the folks around here like to do that.

    Once again there's the attempt to frame what I said as somehow being about the mere fact that you have or express a different view. Wouldn't that be fun to debate instead? Why, that would be so easy to knock out of the park, wouldn't it?

    Three strikes, you're now being obtuse. Go back and reread, this time applying whatever comprehension and critical thinking skills you have to what I actually wrote. (Hint: part of it starts with "There's nothing wrong with contrary opinions...")
    This guy (the OP) reminds me of all the people in the runup to the 2008 election just insisting that the economy was all sunshine and lollipops, and we who were throwing red flags everywhere were the loonies trying to get the system down lol

  25. #22
    Quote Originally Posted by GunnyFreedom View Post
    Don't you just hate that? It happens to be one of my major pet peeves. And a few too many of the folks around here like to do that.



    This guy (the OP) reminds me of all the people in the runup to the 2008 election just insisting that the economy was all sunshine and lollipops, and we who were throwing red flags everywhere were the loonies trying to get the system down lol
    You know, Gunny, it's really beneath you to trash the poster rather than his position. There are indeed green shoots in the economy. The demand for temporary workers is rising - that's a leading indicator I've been looking for. I think that OT will rise next.

    Some of his cheerleading is over the top, but the underlying arguments seem solid and documented.

    I don't understand how this can be sustained, but they've sustained it all these years so there's no reason for me to necessarily believe that this is the end. Heck, I thought the 2008 crash was the beginning of the end. I can't believe that hyper-inflation hasn't smacked us hard, yet. But it hasn't, so maybe it won't.
    Last edited by angelatc; 12-08-2012 at 01:09 PM.

  26. #23
    Quote Originally Posted by Steven Douglas View Post
    ::: spitting out the idiotic words you put in my mouth :::

    Once again there's the attempt to frame what I said as somehow being about the mere fact that you have or express a different view. Wouldn't that be fun to debate instead? Why, that would be so easy to knock out of the park, wouldn't it?

    Three strikes, you're now being obtuse. Go back and reread, this time applying whatever comprehension and critical thinking skills you have to what I actually wrote. (Hint: part of it starts with "There's nothing wrong with contrary opinions...")
    Quite obvious by now that you're more interested in finding out why I'm posting than discussing what I'm posting. I always try to bring out my best arguments backed with relevant data to the discussion. I really just want to stick to the topic at hand, which is that American unemployment is the lowest since 2008 driven by factors like near-double digit construction growth, 18 months of increases in pending home sales, housing starts reaching a 4 year high, and that the largest share of Americans EVER is confident enough to want to buy a home in the next 6 months.

    Additionally, car sales are running at a pace not seen since 2008 and household wealth is catching up to 2007 highs.

    I have my reasons for thinking the economy is improving. I've cited them. I don't know why that's such a problem.
    Last edited by Jordan; 12-08-2012 at 01:40 PM.

  27. #24
    Is a Solution Even Possible?

    The economy would have to add about 12.8 million jobs over the next three years—about 356,000 each month—to bring unemployment down to 6 percent. That would require GDP growth in the range of 4 to 5 percent.

    Without better regulatory and trade policies, it is simply not possible to accelerate growth, create enough jobs and bring down federal deficits—all at the same time.

    http://finance.yahoo.com/blogs/the-e...165711644.html

    We're being governed ruled by a geriatric Alzheimer patient/puppet whose strings are being pulled by an elitist oligarchy who believe they can manage the world... imagine the utter maniacal, sociopathic hubris!



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  29. #25
    Unemployment should start to rise , ea month , for the first 6 months of next yr.

  30. #26
    Quote Originally Posted by oyarde View Post
    Unemployment should start to rise , ea month , for the first 6 months of next yr.
    I suspect that by May-June of 2013 intense inflationary pressure will be too heavy to hide or 'explain away' anymore.

  31. #27
    Quote Originally Posted by GunnyFreedom View Post
    I suspect that by May-June of 2013 intense inflationary pressure will be too heavy to hide or 'explain away' anymore.
    I can't disagree with this strongly enough. I suspect that at some point the Student Loan Bubble will burst or at least begin to deflate, which could very well usher in a new, though less extreme, Great Recession. And even if that does not happen, there's a very real possibility that we could be in for a bit of a deflationary spell, similar to what we experienced during the Great Recession when consumers pulled back, some debts were written-off, and credit dried up - particularly if tax rates rise.
    Last edited by KingNothing; 12-08-2012 at 09:53 AM.

  32. #28
    Quote Originally Posted by GunnyFreedom View Post
    I suspect that by May-June of 2013 intense inflationary pressure will be too heavy to hide or 'explain away' anymore.
    Yeah I've heard this since 2007. At what point will you be wrong?

  33. #29
    Quote Originally Posted by Jordan View Post
    Yeah I've heard this since 2007. At what point will you be wrong?
    bored waiting?

  34. #30
    Quote Originally Posted by Tpoints View Post
    bored waiting?
    Incredibly.

    Quote Originally Posted by Pauls' Revere View Post
    In this economy, consumer debt is at AN ALL TIME HIGH !

    http://finance.yahoo.com/news/us-con...--finance.html
    Meanwhile, in places where stats are normalized by ratio...

    In the third quarter, total household liabilities were 112.7 percent of after-tax income during the third quarter, the lowest since 2003 and down from 113.4 percent in the second quarter.

    Economists are divided over how much further households have to go in this deleveraging process. Further debt reduction would leave less money for spending, slowing the wider economy.

    While total debt as a share of income remains historically high, one measure kept by the Fed has shown that monthly debt payments as a share of income in the second quarter were at the lowest since 1993.
    http://www.chicagotribune.com/busine...,7743577.story

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