02 June 2017 Employment Situation Summary

[Belsnickel]

https://www.bls.gov/news.release/empsit.nr0.htm

Unemployment - 4.3% (16 year low, was expected to hit 4.4%)
Jobs added - 138,000 (was expected to be 185,000)

Also, the rate of folks not in the job market increased by 0.2% (which is likely what accounts for the higher than expected change in unemployment).

All in all, not terrible news, but it is slower growth than was expected.

[GMDino]

(06-02-2017, 09:46 AM)Belsnickel Wrote: https://www.bls.gov/news.release/empsit.nr0.htm

Unemployment - 4.3% (16 year low, was expected to hit 4.4%)
Jobs added - 138,000 (was expected to be 185,000)

Also, the rate of folks not in the job market increased by 0.2% (which is likely what accounts for the higher than expected change in unemployment).

All in all, not terrible news, but it is slower growth than was expected.

So the greatest job growth ever with the economy finally taking off?

(I have a Trump supporter translator installed in Chrome.) 

[CKwi88]

Thanks Obama

[Yojimbo]

I just heard on radio that March and April jobs added numbers were also re-adjusted lower.

[Belsnickel]

We just haven't seen any policies in the past several years that would really help improve job growth. Neither Congress nor the Obama and now Trump administrations have made any great strides in efforts to jump the economy in this area. Of course, this is likely because neo-liberal tendencies are to take a more free market economic approach and so they don't want to play in that sandbox too much.

[Yojimbo]

(06-02-2017, 11:53 AM)Belsnickel Wrote: We just haven't seen any policies in the past several years that would really help improve job growth. Neither Congress nor the Obama and now Trump administrations have made any great strides in efforts to jump the economy in this area. Of course, this is likely because neo-liberal tendencies are to take a more free market economic approach and so they don't want to play in that sandbox too much.

I think the biggest factor that's dragging on the economy is wage growth for hourly workers still being too low. The economy is only going to explode if the working class can actually spend money and not have to keep borrowing just to stay afloat.

[Belsnickel]

(06-02-2017, 12:15 PM)Yojimbo Wrote: I think the biggest factor that's dragging on the economy is wage growth for hourly workers still being too low. The economy is only going to explode if the working class can actually spend money and not have to keep borrowing just to stay afloat.

This is true. I know I hardly buy anything because I can't afford it, and I'm a salary employee working for the state!

[GMDino]

(06-02-2017, 12:15 PM)Yojimbo Wrote: I think the biggest factor that's dragging on the economy is wage growth for hourly workers still being too low. The economy is only going to explode if the working class can actually spend money and not have to keep borrowing just to stay afloat.

Yep. Trickle up.

The poor/working poor spend what they earn.

The rich invest.

But if we can give just one more tax cut to the job creators....right?

[*TheLeonardLeap*]

I said this when Obama was President, and I will say this while Trump is President. This is a government problem, not a President problem.

The way they create the unemployment % is BS. Plus it doesn't address the very real problem of underemployment.

[ballsofsteel]

Hello fellows. I'll list the three biggest lies of all time:
1) The check is in the mail.
2) I won't come in your mouth.
3) Trickle down economics. The less taxes the rich pay the more they will reinvest in their business.

[Yojimbo]

(06-02-2017, 04:57 PM)ballsofsteel Wrote: Hello fellows. I'll list the three biggest lies of all time:
1) The check is in the mail.
2) I won't come in your mouth.
3) Trickle down economics. The less taxes the rich pay the more they will reinvest in their business.

I think 3 is more of an economic theory that has never worked in reality. The lie comes from those that know the theory doesn't work, but push it anyways at the behest of their benefactors.

[HarleyDog]

(06-02-2017, 09:59 AM)GMDino Wrote: So the greatest job growth ever with the economy finally taking off?

(I have a Trump supporter translator installed in Chrome.) 

Had the numbers been stellar, you would have praised Obama, but since there was a small crack of light, you take advantage of the opportunity. Nice.

[Belsnickel]

(06-02-2017, 03:12 PM)TheLeonardLeap Wrote: I said this when Obama was President, and I will say this while Trump is President. This is a government problem, not a President problem.

The way they create the unemployment % is BS. Plus it doesn't address the very real problem of underemployment.

Well, that is a number created. Just because U3 is the official rate doesn't mean that you can't look at and track U6, which does take into account underemployment. https://www.bls.gov/news.release/empsit.t15.htm

But, the way this is calculated has nothing to do with the problem. It is a government problem, not a problem with a particular administration, though. Which is why I point out a lack of effort for several years.

[GMDino]

(06-02-2017, 07:09 PM)HarleyDog Wrote: Had the numbers been stellar, you would have praised Obama, but since there was a small crack of light, you take advantage of the opportunity. Nice.

Actually I was just repeating what I read the POTUS and his supporters say.  But whatever blows your sails.

For the record Obama's numbers while not stellar were consistently good for the most part.  Whether they could have been better and whether his administration did enough or not enough or nothing can be argued...but the numbers were good and eventually Trump will have to enact an actual, honest-to-goodness policy and see how that affects things too.

[NATI BENGALS]

The number of good jobs will continue to decline as technology improves.

The wage gap is one of if not the biggest problem of our country. One Obama tried to fix but made worse and a problem invisible to Trump.

Greed is ruining this country. And the fatal flaws of capitalism will become more apparent as the # of jobs capable of supporting a family decline.

[ballsofsteel]

(06-03-2017, 02:27 AM)NATI BENGALS Wrote: The number of good jobs will continue to decline as technology improves.

The wage gap is one of if not the biggest problem of our country. One Obama tried to fix but made worse and a problem invisible to Trump.

Greed is ruining this country. And the fatal flaws of capitalism will become more apparent as the # of jobs capable of supporting a family decline.

Well said Nati. The middle class is dwindling away. Greed is ruining this country has never been truer. What is worse is we the middle class contribute to our own demise by putting these greedy sob's back in office time and time again. As long as the Moneychangers keep the politicians perpetuating this two part system where "divide and conquer" is working like a charm, we are doomed. I approve of this message.

[HarleyDog]

(06-03-2017, 02:27 AM)NATI BENGALS Wrote: The number of good jobs will continue to decline as technology improves.

The wage gap is one of if not the biggest problem of our country. One Obama tried to fix but made worse and a problem invisible to Trump.

Greed is ruining this country. And the fatal flaws of capitalism will become more apparent as the # of jobs capable of supporting a family decline.

Great post. There are some very rewarding careers that remain outside of technology, but many people have no interest. Transportation, logistics, nursing and military are a few. Although all require a person to work their ass off.

[NATI BENGALS]

(06-03-2017, 10:41 AM)HarleyDog Wrote: Great post. There are some very rewarding careers that remain outside of technology, but many people have no interest. Transportation, logistics, nursing and military are a few. Although all require a person to work their ass off.

Self driving cars could put a lot of people out of work. I think ups dhl and fedex are all working on drones. And rterminators are coming sooner or later

[HarleyDog]

(06-03-2017, 01:47 PM)NATI BENGALS Wrote: Self driving cars could put a lot of people out of work. I think ups dhl and fedex are all working on drones. And rterminators are coming sooner or later

If you research, you will find self driving semi trucks as well. Although the first roll outs will require a driver to be on board in case of emergencies, and also back into docks, I think once the technology advances, drivers will not be required.

[Vlad]

(06-02-2017, 11:53 AM)Belsnickel Wrote: We just haven't seen any policies in the past several years that would really help improve job growth. Neither Congress nor the Obama and now Trump administrations have made any great strides in efforts to jump the economy in this area. Of course, this is likely because neo-liberal tendencies are to take a more free market economic approach and so they don't want to play in that sandbox too much.

The economy is not a priority for democrats. "Social justice" is. Obama made great strides with the LGBT movement, you gotta give him that.