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  1. #1
    Atomic Punk
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    12.18.17 @ 04:35 AM
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    Default August 2012 Jobs Report

    August jobs report stings, but not a crippling blow to Obama

    The August jobs report, showing another month of slow growth, likely will dampen whatever bounce President Obama might have achieved from his party's convention.

    Unlike jobs reports earlier in the year, which may have had a stronger political punch, the current report probably will not have a major effect. The number of new jobs, 96,000 after the Bureau of Labor Statistics' usual seasonal adjustments, fell below the consensus expectations of economists but did not provide the sort of dramatic news -- good or bad -- that would be likely to change the way most voters see the current economy.

    The timing of the jobs report -- the day after Obama's acceptance speech -- was coincidental. The Bureau of Labor Statistics releases the numbers on the first Friday of each month, and political candidates give their acceptance speeches on Thursday nights by longstanding tradition.

    Typically, the president receives an advance briefing on the numbers on Thursday evening. White House officials declined to say Thursday whether Obama would be getting that briefing before his speech.

    http://www.washingtonpost.com/blogs/...8d13_blog.html

    http://www.cbsnews.com/8301-505123_1...t-disappoints/
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  2. #2
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    10.30.17 @ 05:08 AM
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    It is what it is

    I won't insult your intelligence by suggesting that you really believe what you just said

    I could tell that my parents hated me. My bath toys were a toaster and a radio.

  3. #3
    Banned! phillybri76's Avatar
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    11.25.15 @ 10:51 AM
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    This is great news for Mitt Romney and the Republicans! YAAAAAAAYYYYY!!!!!

  4. #4
    Wear the fox hat... Filthy 150's Avatar
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    10.16.17 @ 11:43 AM
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    I wouldn't trust NYTHING the BLS reports.

    We used to report our info to them. At first it was a hardcopy in the mail. Then it went to 'online.' I would fill out the online form and when it got to the 'submit' portion it would always reject the info as the 'amount of pay is too high for the # of employees listed." The only option that would allow me to submit the report was to click on 'recent upturn in workload.'
    And after submitting the report I would get a call telling me that they had not gottten the report. The 1st time I didn't have the confirmation number so I re-submitted. The 2nd time I gave them the conf. # and they were 'unable to retrieve my info' so I re-submitted and got a different conf. #. The 3rd time I had printed the pages I had submitted and told the woman every piece of info that had been submitted. She asked me to re-submit it all again. That's when I told her we would not be participating anymore.

    I've had difficulties with govt. agencies before but this was beyond absurd.
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  5. #5
    Atomic Punk
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    12.18.17 @ 04:35 AM
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    ---did anyone think this might have happened because many have gone back to school??

    Young adults drop out of the job market

    NEW YORK (CNNMoney) -- The drop in the unemployment rate in August isn't particularly good news for the economy -- it's driven mostly by nearly 400,000 people dropping out of the labor force, rather than more people finding jobs.

    But those dropping out aren't so much the discouraged 30-, 40- or 50-year olds. In fact, the Labor Department said there was a modest decline in the overall number of discouraged job seekers.

    The drop is because so many young adults, aged 16 to 24, are no longer looking for work.

    There were 453,000 fewer young adults with jobs in August than in July. But despite that plunge, only 27,000 more young people were looking for new jobs. Most apparently stopped looking and left the labor force. And those numbers take into account seasonal factors such as younger workers returning to school.

    As a result, the percentage of young people who are counted in the labor force fell to its lowest level since 1955.

    The unemployment rate for young adults rose to 16.8% from 16.4% in July.

    "I don't think they're more lazy. It's that there are less opportunities for them," said Heidi Shierholz, labor economist, at the Economic Policy Institute, a liberal think tank. "They have it rough."

    But how can the overall unemployment rate fall if people aren't finding work?

    Fewer job seekers can drive down the unemployment rate even if there are fewer people working because the labor department only counts those with a job or actively looking for work as in the labor force. If the size of the labor force declines more than the number of people who say they have jobs, the unemployment rate can fall for the wrong reason. That's what happened in the August jobs report, as the overall unemployment rate fell to 8.1% from 8.3%.

    But there was some good news buried in an otherwise unsatisfying drop in the overall unemployment rate -- things got a bit better for older workers, the key wage earners in the economy.

    Slightly more workers in the prime 25-55 year old age group had jobs in August. In fact, the unemployment rate for that key age group fell from 7.2% to 7.1%. And it fell for the right reason -- more people finding work. The unemployment rate also fell for those age 55 and over.

    "There is some modest improvement for 'grown ups,'" said Shierholz
    Last edited by voivod; 09.07.12 at 11:01 AM.
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  6. #6
    Atomic Punk bsbll4's Avatar
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    12.15.17 @ 12:23 PM
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    Quote Originally Posted by phillybri76 View Post
    This is great news for Mitt Romney and the Republicans! YAAAAAAAYYYYY!!!!!
    I'm sure you're being facetious, but really, no one should be celebrating these numbers.

    This is an absolute disaster for our economy. As I wrote in the election thread, I was watching Morning Joe on MSNBC when the numbers came out and you would have thought we landed on the moon or something. People heard 93,000 jobs added and unemployment dropped to 8.1% and started fist pumping, back slapping, and hollering at the top of their lungs. They actually thought that was good news.

    My, how far our standards have fallen.
    CNN may think my opinion matters, but you shouldn't.

  7. #7
    Atomic Punk Dave's Dreidel's Avatar
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    12.18.17 @ 03:51 AM
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    Fewer sixteen to twenty four year olds are in the job market?

    Yeah, it's called going back to school. I would think 16-24 year olds who are working part time would not affect the unemployment rate.

    Maybe I am reading it wrong, but that doesn't make sense.
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  8. #8
    Atomic Punk
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    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  9. #9
    Atomic Punk bsbll4's Avatar
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    Quote Originally Posted by Dave's Dreidel View Post
    Fewer sixteen to twenty four year olds are in the job market?

    Yeah, it's called going back to school. I would think 16-24 year olds who are working part time would not affect the unemployment rate.

    Maybe I am reading it wrong, but that doesn't make sense.
    I think that's seasonally adjusted. Plus there are a number of 16-24 year olds who aren't in school. As for people going back to school to get more education...

    I feel like this is the next shoe to drop. So many people in my generation are going back to school for the 2nd, 3rd, even 4th time to get a degree in something else. What they are doing is piling up loan debt and there's no guarantee that when they graduate they will get a job. Many are just doing it "until the economy improves."

    I have friends that are paying money to go back and get their Masters degrees thinking that will be their ticket. The problem is that those degrees are meaning less and less to employers who see more people with the education but not the desired experience. Meanwhile the price of getting one goes up and up. It's constant diminishing ROI.

    Graduating with debt and not finding a job is being compounded by people going back to school and getting more debt. These people will never own a home, buy a nice car, support 2.5 kids, retire comfortably, etc. We really are going to be the "lost generation." Some of us realize it, but most are blissfully and/or willfully ignorant of it.
    CNN may think my opinion matters, but you shouldn't.

  10. #10
    Atomic Punk Dave's Dreidel's Avatar
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    I'm currently getting my masters degree, but it is for when I retire from public accounting.

    Even though I have professional certifications and experience out the ass, you have to have a masters degree to teach at an accredited university, and that is what I want to do when I retire.

    I do it now as an adjunct and I really enjoy it.
    Taylor Swift is nice to look at. Adele can sing.

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  11. #11
    Atomic Punk bsbll4's Avatar
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    Quote Originally Posted by Dave's Dreidel View Post
    I'm currently getting my masters degree, but it is for when I retire from public accounting.

    Even though I have professional certifications and experience out the ass, you have to have a masters degree to teach at an accredited university, and that is what I want to do when I retire.

    I do it now as an adjunct and I really enjoy it.
    But you've got your shit together!

    My generation is...well...let's just say they do not
    CNN may think my opinion matters, but you shouldn't.

  12. #12
    Hang 'Em High
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    12.17.17 @ 09:58 PM
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    Default Part-Time Nation - The growing Hidden Underworked

    Part-Time Nation

    8 Million & growing: The hidden underworked

    http://www.nypost.com/p/news/busines...CTbvRQ3FyHE3ZI

    “You want fries with that?”

    It’s the unfortunate fate for more than 8 million American workers who are not unemployed but who can’t find a full-time job.

    A growing percentage of Americans are falling off the margins when it comes to jobs, as the economic malaise continues to grip the country.

    Friday’s jobs report for August showed further deterioration in the employment picture. Even the fact that the unemployment rate fell two-tenths of a point to 8.1 percent is worrisome, due to the fact that nearly 400,000 Americans have thrown in the towel on the prospect of finding any work.

    One analyst crunched some numbers that suggested that if the labor force were at same level as it was four years ago, the unemployment rate would be 11.2 percent.

    At 63.5 percent, we are now at the lowest participation rate since 1981, which led to the falling jobless rate. And the category of men 16 years and older is at a level not seen since 1948, 69.8 percent.

    The August jobs report showed there were at least 23 million American workers in trouble. That’s a distressing 12.5 million unemployed workers, along with the 8 million part-time and 2.6 million “marginally attached.” The last are not officially counted by the government as “unemployed,” due to seasonal work.

    The 8 million part-timers face a particularly bad situation. If you work more than 10 hours a week, you don’t quality for unemployment. Yet those jobs often lack benefits, raises or the chance to get more hours.

    Overall, 96,000 jobs were created in August, almost 30,000 below the consensus estimate.

    Another jobs crusher: Earlier June and July payrolls numbers were adjusted down on Friday. June came in at 45,000, versus an earlier estimate of 64,000, and July payrolls increased by 141,000, compared with the 163,000 that were initially reported.

    Gary Burtless, senior fellow at the nonprofit Brookings Institution, says the latest rate of job gains is just about right in order to keep on a stay-even pace with the rise of the working-age population. But, he warned, “if maintained over several months . . . it is too slow to put a dent in the nation’s unemployment rate.”

    Where are the workers? The latest data show the total number of Americans on food stamps hitting a record 46.67 million, with 173,600 new applicants in June.

    Total new food-stamp applications in June were almost four times greater than the number of new jobs created.

  13. #13
    Atomic Punk bsbll4's Avatar
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    I heard a talking head discussing the report and he said something that was shocking. If the labor participation rate was the same as it was 4 years ago, the unemployment rate would be over 11%

    U6 (another breakdown of the numbers that gives a broader picture of the overall employment situation that counts the underworked and those giving up) would be over 20%.
    CNN may think my opinion matters, but you shouldn't.

 

 

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