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

Jordan said:
I find it interesting that because I have a different view on the issues I am automatically here for some nefarious scheme.
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::: 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...")
 
Uh...I dont think so. people have stopped looking so are not counted.

http://finance.yahoo.com/blogs/the-...dults-discouraged-quit-looking-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.
 
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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-...dults-discouraged-quit-looking-165711644.html
 
Yeah, I think that the number of part-time workers is going to rise, if for no other reason than Obamacare.
 
Lol Jordan

This trolling exercise of yours is really getting funny. Next.thing you will be telling me.that government inflation numbers are overstated.
 
In this economy, consumer debt is at AN ALL TIME HIGH !

http://finance.yahoo.com/news/us-consumer-borrowing-rises-record-2-75t-200154993--finance.html



WASHINGTON (AP) — Americans swiped their credit cards more often in October and borrowed more to attend school and buy cars. The increases drove U.S. consumer debt to an all-time high.

The Federal Reserve said Friday that consumers increased their borrowing by $14.2 billion in October from September. Total borrowing rose to a record $2.75 trillion.

Borrowing in the category that covers autos and student loans increased by $10.8 billion. Borrowing on credit cards rose by $3.4 billion, only the second monthly increase in the past five months.

The strong rise in borrowing came in a month when Americans cut back on consumer spending, reflecting in part disruptions from Superstorm Sandy.

Many consumers may also have scaled back because of fears about the "fiscal cliff." That's the name for automatic tax increases and spending cuts that will take effect in January if Congress and the Obama administration fail to strike a budget deal by then.

Consumer spending drives roughly 70 percent of economic activity.

Economists think that it could bounce back in November. But the underlying trend remains weak because with unemployment remaining high, households don't have the incomes to spend.

Many consumers have been reluctant to build up credit card debt, which typically carries steeper interest rates than other loans.

Credit card usage has fallen sharply since the 2008 credit crisis. Four years ago, Americans had $1.03 trillion in credit card debt, an all-time high. In October, that figure was 17 percent lower.

During the same period, student loan debt has increased dramatically. The category that includes auto and student loans is 22 percent higher than in July 2008. That reflects in part the fact that many Americans who have lost jobs decided to go back to school to get training for new careers.
.
 
Steven Douglas said:
Awesome. Since debt is considered money, that means consumers have lots and lots more money.
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Look_bfbf8c_1126934.jpg
 
Steven Douglas said:
::: spitting out the idiotic words you put in my mouth :::
Click to expand...

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...")
Click to expand...

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
 
That's like saying the Houston Astros manage win 70 games, just because it doesn't suck as bad it still isn't an accomplishment.
 
GunnyFreedom said:
I suspect that by May-June of 2013 intense inflationary pressure will be too heavy to hide or 'explain away' anymore.
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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.
 
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LOL there is no way only 7.7% of able-bodied people in this country cannot find work. If that were true this economy would be in a lot better shape.

This number masks the real problems.

1. Many workers are discouraged and not looking for work at all anymore.

2. Many people are just going on government assistance instead of working instead, as "disabled"

3. Many are taking lower paid jobs out of their field, part-time work etc

4. Many are working for the bloated federal government
 
If the economy takes off like gang busters Jan - June with tax increases, etc, I will be wrong .
 
GunnyFreedom said:
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
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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.
 
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