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Thread: U.S. Economy Added 223,000 Jobs in April; Unemployment Rate at 5.4%

  1. #1

    U.S. Economy Added 223,000 Jobs in April; Unemployment Rate at 5.4%

    http://www.nytimes.com/2015/05/09/bu...pril.html?_r=0

    Jobs up, unemployment rate down and Labor Force Participation Rate also higher (barely). Labor Force Participation Rate has barely changed for over two years now despite 10,000 a day leaving the labor force to retire (3.65 million a year).

    The American job market rebounded in April, the government said on Friday, helping to ease worries that the economy was on the brink of another extended slowdown after a bleak winter in which the overall economy stalled. But the growth in jobs failed to translate, once again, into any significant improvement in pay.

    Employers added 223,000 positions last month, the Labor Department reported, and the unemployment rate decreased to 5.4 percent, a turnaround from the disappointing performance in March, initially reported as a modest 126,000 gain and then revised down on Friday to 85,000.

    “We expected a rebound following the numbers in March and we got it, but not much more,” said Guy Berger, United States economist at RBS. “Wage growth is still the missing piece.”

    Indeed, before Friday’s report, some economists were estimating that average hourly earnings might rise 0.2 percent or more in April, signaling an upswing from the slow pace of wage gains since the end of the recession.

    But average hourly earnings rose only 0.1 percent in April, producing a 2.2 percent annual gain. That modest showing suggests that any meaningful wage gains for most workers are still delayed, despite the steadily falling unemployment rate.

    The absence of wage pressure suggests that the Federal Reserve will not be in a rush to take its long-awaited first step in raising short-term interest rates, which have been near zero since late 2008.

    Many experts once expected the Fed to move in June, but the consensus has recently shifted to September or beyond as the probable beginning of any gradual tightening effort by the central bank.
    Another important indicator of overall labor market health is the participation rate, which has been stuck near multidecade lows for years, despite healthy hiring in 2015. Last month, it increased 0.1 percentage point to 62.8 percent.

    Conservative critics of President Obama’s economic policies cite the depressed participation rate as evidence of how weak the economy remains, despite other seemingly rosy data points like the falling unemployment rate, healthy corporate profits and a buoyant stock market.

    Other experts attribute much of the decline to the retirement of baby boomers, the return of some adults to school and other demographic factors.
    Last edited by Zippyjuan; 05-08-2015 at 12:20 PM.



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  3. #2
    There are no crimes against people.
    There are only crimes against the state.
    And the state will never, ever choose to hold accountable its agents, because a thing can not commit a crime against itself.

  4. #3
    A lot of these jobs are social assistance jobs. This means taxpayer funded, government jobs to help the people who need assistance, such as the chronically unemployed.

    Jobs today are not the jobs of yesteryear. This report cites the rise in social assistance jobs. These social assistance jobs are mostly government employment. Combine that with all the Medicare used to pay for health care employment, and you have a great number of jobs where the government (taxpayers) are just taking care of a larger percentage of the population. You can't sustain an economy where an increasing number of jobs are social work and social security.


    The healthcare and social assistance industry is expected to continue to add a substantial number of jobs to the economy between 2012 and 2022,...

    *

    Employment in the healthcare and social assistance industry is projected to increase 29 percent through 2022, compared to an average of 11 percent for all industries.

    http://www.nasrecruitment.com/upload...to-2022-72.pdf
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  5. #4
    Quote Originally Posted by Zippyjuan View Post

    ...helping to ease worries that the economy was on the brink of another extended slowdown after a bleak winter in which the overall economy stalled.
    Not sure why you keep discussing the weather in your obvious and shameless shilling on this site. The weather is not considered a factor in determining economic trends or year-over-year economic health. If people start buying after the bad weather subsides, then a big factor in purchasing is the change in weather.
    Last edited by NorthCarolinaLiberty; 05-08-2015 at 02:04 PM.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  6. #5
    What with all these alleged "jobs" that have been added over the last few years it'd seem every adult male would now have 2-1/2 full time jobs....

  7. #6
    Oh yeah; and you get a neg rep for this thread. You keep posting this stuff, but it's just part of your obvious and shameless shilling. You have no interest in discussing this. It's obvious that this is nothing but repetitive attempts that align with your nonsense on this forum.

    Also, don't try to play it off with your phony politeness. Don't try to innocently pretend you're interested in a discussion. You act like a total jerk posting this stuff for these reasons. Your intent on this site is obvious.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  8. #7
    so?
    you got a point?
    FLIP THOSE FLAGS, THE NATION IS IN DISTRESS!


    why I should worship the state (who apparently is the only party that can possess guns without question).
    The state's only purpose is to kill and control. Why do you worship it? - Sola_Fide

    Baptiste said.
    At which point will Americans realize that creating an unaccountable institution that is able to pass its liability on to tax-payers is immoral and attracts sociopaths?

  9. #8

    Retiring boomers are NOT why the labor force participation rate is down- its down because people in their prime working years are unattached to the labor force.

    People of retirement age are more attached to the labor force than ever

    Attached Thumbnails Attached Thumbnails labor force participation rate 25-54- march 2015.PNG   labor force participation rate 65 +.PNG  
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  11. #9
    Lies, damned lies, statistics and government (Zippy) statistics.

    Oh yeah, let's ignore the downward revisions after the fact.

    At first glance the April employment report appears broadly in line with expectations, as both the consensus forecast for the headline payroll change and unemployment rate were largely on the mark. However, significant downward revisions to March shade the tone of the report to the weak side.
    ...
    However, March was revised down to 85k from 126k. So while the consensus forecast was close to the mark, net negative revisions to the prior two months totaled 39k. Sceptics will argue that the “real” payroll change was still sub-par, with net payroll change effectively 184k (223k minus 39k). Furthermore, there now appears to be a consistent pattern of downward revisions, as net revisions were negative in February, March and now again in April.
    ...
    http://www.bloomberg.com/news/articl...-s-jobs-report
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
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    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  12. #10
    Happy times are here again! Pop the Champagne, Zippy! Summer of recovery is here! Economy is firing on all cylinders! Oh wait.... I forgot that this is all an illusion perpetuated by the fact that the Federal Reserve is giving away free money to the banks, is subsidizing the 'housing recovery', artificially inflating the stock markets, and trying to keep the entire house of cards from crashing on top of all our collective heads... debt is up, unfunded liabilities are WAY UP, government power is growing, liberty and human freedom are largely a thing of the past...

    But you go ahead, Zip. Have a drink for those of us still hopelessly entrenched in reality.
    There are only two things we should fight for. One is the defense of our homes and the other is the Bill of Rights. War for any other reason is simply a racket.
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    Two-Time Congressional Medal of Honor Winner
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  13. #11
    Unfortunately all the jobs went to immigrants.

    Overall, when comparing native-born to foreign-born employment for men and women combined, immigrant employment growth has outpaced the native-born employment rate.
    http://www.breitbart.com/big-governm...nce-recession/

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

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    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

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    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  14. #12
    Quote Originally Posted by presence View Post
    Unfortunately all the jobs went to immigrants.

    http://www.breitbart.com/big-governm...nce-recession/
    But immigrants grow the economy and we all benefit. Now give me your hamburger kid, and the invisible hand of the free market will increase cattle production and you'll get a new hamburger someday.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  15. #13
    They always manipulate this data to look good on paper. If it was so great we wouldn't have so many people still on assistance.

  16. #14
    Quote Originally Posted by presence View Post
    Unfortunately all the jobs went to immigrants.



    http://www.breitbart.com/big-governm...nce-recession/
    And yet the most brilliant minds in journalism are befuddled as to why wages aren't rising.

  17. #15
    Where the new jobs were:

    Construction has been gaining steam, thanks to a reasonably healthy housing sector and a spring rebound in hiring after very wintry weather in many parts of the country forced some building projects to be delayed. Builders hired 45,000 workers last month.

    Similarly, the professional and business services category has been strong, adding 62,000 jobs in April, reflecting financial sector strength and continued demand for college-educated, white-collar workers. Health care was another source of gains, adding 55,600 positions. In just the last three months, the health care sector has gained nearly 125,000 jobs.

  18. #16
    Quote Originally Posted by Zippyjuan View Post
    Where the new jobs were:

    Construction has been gaining steam, thanks to a reasonably healthy housing sector and a spring rebound in hiring after very wintry weather in many parts of the country forced some building projects to be delayed. Builders hired 45,000 workers last month.
    Too bad English speaking Americans don't get hired for the vast majority of those jobs. Spanish is required, otherwise you will not be able to communicate with anyone.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.



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  20. #17
    Americans Not In The Labor Force Rise To Record 93,194,000

    http://www.zerohedge.com/news/2015-0...ecord-93194000

    In what was an "unambiguously" unpleasant April jobs payrolls report, with a March revision dragging that month's job gain to the lowest level since June of 2012, the fact that the number of Americans not in the labor force rose once again, this time to 93,194K from 93,175K, with the result being a participation rate of 69.45 or just above the lowest percentage since 1977, will merely catalyze even more upside to the so called "market" which continues to reflect nothing but central bank liquidity, and thus - the accelerating deterioration of the broader economy.



    End result: with the civilian employment to population ratio unchanged from last month at 59.3%, one can easily on the chart below why there will be no broad wage growth any time soon, which will merely allow the Fed to engage in its failed policies for a long, long time.


    rewritten history with armies of their crooks - invented memories, did burn all the books... Mark Knopfler

  21. #18
    Quote Originally Posted by Zippyjuan View Post
    Where the new jobs were:


    Construction has been gaining steam,...Builders hired 45,000 workers last month.
    Similarly, the professional and business services category has been strong, adding 62,000 jobs in April, reflecting financial sector strength and continued demand for college-educated, white-collar workers. Health care was another source of gains, adding 55,600 positions. In just the last three months, the health care sector has gained nearly 125,000 jobs.

    These numbers are meaningless without year-over-year data. Yes, construction picks up in the spring, but it's more useful to compare that 45k number to last spring.

    Same for the other stats. Notice that the health care stat of 125,000 matches my article about jobs being in health care. Many of these are paid by Medicare and Medicaid, especially with the aging population. Sometimes the social assistance industry is lumped in with health care.

    Spring is also a season for more hires. January often looks bleak not just because of weather, but because it's after Christmas. Stores also get rid of their temp workers. Again, you have to compare year-over-year.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  22. #19
    Quote Originally Posted by Zippyjuan View Post
    Where the new jobs were:
    Part time jobs.
    Construction will eventually slow down and stop when there are no more plans to build.

  23. #20
    Where are all Zippy fan boys? Brandon? Specs, even Amy, Etc? You out there?

    Last edited by Danke; 05-08-2015 at 09:46 PM.
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  24. #21
    There have been a ton of layoffs due to the oil industry downturn. I'm guessing those job losses haven't hit the stats yet. And for every oil company that lays off there are thousands of related service companies forced to lay off as well.

  25. #22
    Quote Originally Posted by Danke View Post
    Where are all Zippy fan boys? Brandon? Specs, even Amy, Etc? You out there?

    Yesterday was pay day so I bought a silver dollar and a six pack. I try and do my part to keep the beer industry going .

  26. #23
    Total Non-Farm Payroll (jobs in the US)- more people working than ever before:

    https://research.stlouisfed.org/fred2/series/PAYEMS/

    Last edited by Zippyjuan; 05-09-2015 at 01:39 PM.

  27. #24
    Quote Originally Posted by AngryCanadian View Post
    Part time jobs.
    Construction will eventually slow down and stop when there are no more plans to build.

    Actually most of the jobs created have been full time jobs.




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  29. #25
    Quote Originally Posted by Carlybee View Post
    There have been a ton of layoffs due to the oil industry downturn. I'm guessing those job losses haven't hit the stats yet. And for every oil company that lays off there are thousands of related service companies forced to lay off as well.
    Yes, there have been oil industry layoffs but they are being offset by new jobs in other industries.

    http://www.usatoday.com/story/money/...pril/70959032/

    Announced layoffs hit a three-year high in April as cheap oil pummeled energy company payrolls and failed to provide an expected lift to retailers and consumer products companies.

    But economists say the disappointing news doesn't portend a weak labor market this year. While oil-related reductions are likely to persist at a slower pace, consumers should soon step up spending and bolster merchants.

    Not all planned job cuts have occurred yet either, and the ones that have aren't expected to blacken Friday's employment report for April from the Labor Department. Economists surveyed by Action Economics forecast 225,000 job gains — up from 126,000 in March — and a 5.4% unemployment rate, down from 5.5%.
    The picture should brighten. Oil job cuts are likely to continue, barring a sharp upturn in crude prices, before the losses are partly reversed in 2016, Kelley says. He expects net oil industry job losses — including layoffs and hiring — to total 37,000 the rest of the year.

  30. #26
    Quote Originally Posted by NorthCarolinaLiberty View Post
    These numbers are meaningless without year-over-year data. Yes, construction picks up in the spring, but it's more useful to compare that 45k number to last spring.

    Same for the other stats. Notice that the health care stat of 125,000 matches my article about jobs being in health care. Many of these are paid by Medicare and Medicaid, especially with the aging population. Sometimes the social assistance industry is lumped in with health care.

    Spring is also a season for more hires. January often looks bleak not just because of weather, but because it's after Christmas. Stores also get rid of their temp workers. Again, you have to compare year-over-year.
    I thought you said that weather does not effect the economy.

  31. #27

  32. #28
    Quote Originally Posted by Zippyjuan View Post
    Total Non-Farm Payroll (jobs in the US)- more people working than ever before:

    https://research.stlouisfed.org/fred2/series/PAYEMS/

    The population is proportionally larger too.
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