May lowest job growth in 5 1/2 years, unemployment drops .3%

[UK2K]

Obama touting that unemployment rate... 4.7% is impressive.

Never mind over half a million (500,000) people stopped looking for jobs. :oldlol:



The labor market slowed dramatically in May as employers added 38,000 jobs, raising concerns that a sluggish economy is taking a bigger toll on employment and lowering the odds of a Federal Reserve rate hike this month.

The unemployment rate fell from 5% to 4.7%, the lowest since November 2007, the Labor Department said Friday, but that was because nearly 500,000 Americans stopped working or looking for jobs. The paltry employment gains were the smallest in 5 1/2 years.

http://www.usatoday.com/story/money/2016/06/03/payrolls-weaken-dramatically-38000-new-jobs-may/85320796/

[highwhey]

In before you get proven wrong as usual.

[UK2K]

In before you get proven wrong as usual.
USA today is wrong?

If they're wrong, the Labor Department is also wrong.

Cool story.

[TheMan]

Obama touting that unemployment rate... 4.7% is impressive.

Never mind over half a million (500,000) people stopped looking for jobs. :oldlol:



http://www.usatoday.com/story/money/2016/06/03/payrolls-weaken-dramatically-38000-new-jobs-may/85320796/
And if in June there is a surge in employment, I bet you won't make a thread about that, huh.

Partisan hack is a partisan hack.

BTW, there are jobs out there but those 500,000 Americans are too lazy to work and would rather collect unemployment benefits...damn leeches.

[DeuceWallaces]

And if in June there is a surge in employment, I bet you won't make a thread about that, huh.

Partisan hack is a partisan hack.

BTW, there are jobs out there but those 500,000 Americans are too lazy to work and would rather collect unemployment benefits...damn leeches.

He makes the same thread every month with the same dumbass comments.

[UK2K]

And if in June there is a surge in employment, I bet you won't make a thread about that, huh.

Partisan hack is a partisan hack.

BTW, there are jobs out there but those 500,000 Americans are too lazy to work and would rather collect unemployment benefits...damn leeches.
Well, see, it's relevant because just a few days ago Obama was in IN touting the awesomeness of the economy and even using the unemployment rate as evidence of such.

So you know, the report has some significance as it tells the exact opposite of what he just said.

On a related note, we hit a record number of Americans NOT included in the labor force. Good reason to continue bringing in unskilled immigrants so everyone at the bottom of the pile can fight for the same jobs. Never understood why the poor support the idea of more competition but to each their own.

[UK2K]

http://i.giphy.com/ErLHS72f2NsbK.gif

uk2k is such a Obama hater.. :hammerhead:

http://www.msnbc.com/sites/msnbc/files/styles/embedded_image/public/1.9.15.jpg

Haters gonna hate!
Every few months, we keep pace with the amount of new jobs created needed to keep up with the labor force increase.

The economy is better off now, no doubt, but it's been 8 years and we're still going nowhere. I could do that. It's not that he's been bad at handling the economy, it's that he claims it as one of the cornerstones of his presidency when truthfully, like anything else, the economy would naturally tick up eventually.

[knickballer]

Honestly, alot of these job statistics are BS and it's used as a tool by politicans as talking points. The official stats excludes people who never had a job, people who've been unemployed for a while and people who stopped looking for a job among a few other factors.

Alot of people are underemployed and alot of the job growh has been in dead end jobs like retail. IIRC, Only the finance sector has seen a growth in jobs(other than retail). Alot of the good jobs are dying out and alot of them haven't been recovered since the latest crash. There's only a few majors that one can actually make a career out of.

[longtime lurker]

Obama touting that unemployment rate... 4.7% is impressive.

Never mind over half a million (500,000) people stopped looking for jobs. :oldlol:



http://www.usatoday.com/story/money/2016/06/03/payrolls-weaken-dramatically-38000-new-jobs-may/85320796/

What difference does it make? According to you every single job report that the Obama administration has been putting out is bullshit anyways.

[Dresta]

Honestly, alot of these job statistics are BS and it's used as a tool by politicans as talking points. The official stats excludes people who never had a job, people who've been unemployed for a while and people who stopped looking for a job among a few other factors.

Alot of people are underemployed and alot of the job growh has been in dead end jobs like retail. IIRC, Only the finance sector has seen a growth in jobs(other than retail). Alot of the good jobs are dying out and alot of them haven't been recovered since the latest crash. There's only a few majors that one can actually make a career out of.
Not to mention that when someone loses a well-paid full time job and gets two shitty part-time service jobs it counts as "one job created by Obama, derr"

US Economy is seriously f*cked. Makes me lol to see economists try and predict the future when we're engaged in a gigantic world-wide experiment of a completely unprecedented proportion. They seem incapable of grasping the fact that there are no constants in history, and that their mathematical abstractions are of little actual relevance to the world.

[UK2K]

What difference does it make? According to you every single job report that the Obama administration has been putting out is bullshit anyways.
Says who?

Job growth isn't bullshit. It's a measurable metric. What's bullshit is the way unemployment is called unemployment.

If you don't have a job after X amount of days, you're still unemployed.

[UK2K]

Honestly, alot of these job statistics are BS and it's used as a tool by politicans as talking points. The official stats excludes people who never had a job, people who've been unemployed for a while and people who stopped looking for a job among a few other factors.

Alot of people are underemployed and alot of the job growh has been in dead end jobs like retail. IIRC, Only the finance sector has seen a growth in jobs(other than retail). Alot of the good jobs are dying out and alot of them haven't been recovered since the latest crash. There's only a few majors that one can actually make a career out of.
I believe the medical industry has had steady job growth as well.

Manufacturing has been destroyed.

[knickballer]

Not to mention that when someone loses a well-paid full time job and gets two shitty part-time service jobs it counts as "one job created by Obama, derr"

US Economy is seriously f*cked. Makes me lol to see economists try and predict the future when we're engaged in a gigantic world-wide experiment of a completely unprecedented proportion. They seem incapable of grasping the fact that there are no constants in history, and that their mathematical abstractions are of little actual relevance to the world.

Yup, exactly. Offer two part time jobs that you won't have to pay any benefits and have the ability to cut/add hours on short notice as they are mainly paid by the hour. Then this poor PT worker has to pay for obamacare or pay a hefty penalty if he can't afford insurance. But that 4.7% unemployement doe. Majority of Americans don't even have $2000(or something like that) on them but that economy doe :applause:

I remember when I worked in retail back in the day there was only 3-4 FT employees in the store(Managers) and an army of 20-30 PT employees who worked something like 8-20 hours a week. PT employees who'll get their shifts cut on a moments notice because sales are down for the days pr employees who'll be asked to come in if it's extra busy and asked to do the work of 2-3 employees. But that 4.7% unemployement rate. :applause: That corporate profit :applause:

[knickballer]

What difference does it make? According to you every single job report that the Obama administration has been putting out is bullshit anyways.

Every job report that has been put out under any administration whether Bush or Obama has been bullshit. The numbers get skewed and manipulated to make politicians look as good as possible.

[longtime lurker]

Every job report that has been put out under any administration whether Bush or Obama has been bullshit. The numbers get skewed and manipulated to make politicians look as good as possible.

Then why does any of this matter? UK2K and Dresta are always getting their panties in a bunch over anytime Obama is brought up. Nothing more than mental *********ion by the both of them.

[DonDadda59]

And if in June there is a surge in employment, I bet you won't make a thread about that, huh.

Partisan hack is a partisan hack.

BTW, there are jobs out there but those 500,000 Americans are too lazy to work and would rather collect unemployment benefits...damn leeches.

It's moreso a lack of skills (http://money.cnn.com/2016/05/03/news/economy/us-governors-job-skills/) than anything else. Our education system needs serious reform.

[falc39]

This will probably be used as an excuse not to raise rates... yet again.

This year shaping up to be a lot like last year. Fed reserve lying out of it's mouth about raising rates. Last year they were forced to raise the rate once at the very end just for credibility's sake after talking all year about it. When this year started, fed reserve officials were talking about raising rates 4 times :oldlol: Half the year has gone by and it hasn't been raised once. Economy must be doing really well lol

[Akrazotile]

It's moreso a lack of skills (http://money.cnn.com/2016/05/03/news/economy/us-governors-job-skills/) than anything else. Our education system needs serious reform.



Just like in basketball, my friend... It's not the system, it's the players.

The triangle looks like a pretty good system when you have Michael Jordan and Shaquille ONeal. How does it look with Melo and JR Smith? Im sure our education system would look pretty good if we had a nation-wide culture that valued learning and productivity.

But, I get it. Just like fans cant come to terms with the fact that significant personnel upgrades can be difficult to find and take a while to make, so too dont most people want to hear that it's the everyday people in our communities that need to change. We all need to improve ourselves. It's not something the government can "fix."

Typical fans are desperate to believe a quick coaching switcheroo, a lil change of 'the system', a snap of the fingers will be the insta-fix. "Dude, fire the coach! With a new system my 76ers will be hoisting the chip next year!!!"

It's not much different with this education mindset. Sports fans are known for their difficulty in accepting reality. Just like most voters. But hey, maybe the government CAN make it all better. Maybe Popovich could get the Nets to the finals in a couple years without changing any personnel, just adding a new system!

Wouldnt bet on it tho.

[FillJackson]

Every job report that has been put out under any administration whether Bush or Obama has been bullshit. The numbers get skewed and manipulated to make politicians look as good as possible.
Actually this is a load of ****ing horseshit.

The BLS numbers are pretty intensely scrutinized.


Honestly, alot of these job statistics are BS and it's used as a tool by politicans as talking points. The official stats excludes people who never had a job, people who've been unemployed for a while and people who stopped looking for a job among a few other factors.
And the BLS puts out those numbers every month too like clockwork.

[FillJackson]

In before you get proven wrong as usual.
No. It was a dud of a report. The drop in the unemployment rate was due to people leaving the workforce.


Well, see, it's relevant because just a few days ago Obama was in IN touting the awesomeness of the economy and even using the unemployment rate as evidence of such.

So you know, the report has some significance as it tells the exact opposite of what he just said.
This actually a pretty strong argument the numbers are not manipulated to benefit the president.

But as the folks who put the charts up indicate, Obama is still right. This is one month. If you take out the temporary census hires, the last time the US lost jobs in a month was Feb 2010. We are still on a streak of 75th consecutive month of private sector job growth, the longest streak ever.

December 2013 we only added 45,000 jobs. Did we go into recession? No we entered the best year for jobs in 15 years. (http://money.cnn.com/2015/01/09/news/economy/december-jobs-report-unemployment/) This could indicate a change or it could not. The bad news was job losses were pretty broad based, folks working part time but who want full time went up and the labor force rate. The good news was that wages went up and long term unemployed who still are looking went down.

Remember recently we had two years we were lost jobs every month but one and the next year 5 of 12 months had job losses.

Was this a weak month? Certainly.
Does it disprove we are a lot better off than we used to be? Certainly not.

[UK2K]

Then why does any of this matter? UK2K and Dresta are always getting their panties in a bunch over anytime Obama is brought up. Nothing more than mental *********ion by the both of them.
So I tell you the opposite of what you suggest, then you just suggest it again?

Do you have an opinion on the article or no?

[UK2K]

It's moreso a lack of skills (http://money.cnn.com/2016/05/03/news/economy/us-governors-job-skills/) than anything else. Our education system needs serious reform.
The report I posted about finding new workers states that employers find it harder to find applicants with soft skills than it is to find people qualified.

It's not education, our country is simply the 2016 version of idiocracy where your average American workers is dumb, lazy, full of excuses, and simply doesn't care.

Finding someone to show up to work on time was the biggest challenge. Finding someone who can be socially normal was second.

[UK2K]

No. It was a dud of a report. The drop in the unemployment rate was due to people leaving the workforce.


This actually a pretty strong argument the numbers are not manipulated to benefit the president.

But as the folks who put the charts up indicate, Obama is still right. This is one month. If you take out the temporary census hires, the last time the US lost jobs in a month was Feb 2010. We are still on a streak of 75th consecutive month of private sector job growth, the longest streak ever.

December 2013 we only added 45,000 jobs. Did we go into recession? No we entered the best year for jobs in 15 years. (http://money.cnn.com/2015/01/09/news/economy/december-jobs-report-unemployment/) This could indicate a change or it could not. The bad news was job losses were pretty broad based, folks working part time but who want full time went up and the labor force rate. The good news was that wages went up and long term unemployed who still are looking went down.

Remember recently we had two years we were lost jobs every month but one and the next year 5 of 12 months had job losses.

Was this a weak month? Certainly.
Does it disprove we are a lot better off than we used to be? Certainly not.
Again... where did I say we aren't better off economically? Of course we are. Like any trend, it'll have its ups and downs and at some point it will revert back to the mean. I've never argued we aren't better off.

I argued Obama touting the economy as some sort of prized accomplishment is a load of shit, because while it's better, it's still not good. If I shoot 80% from the free throw line, and I miss 20 in a row, you could argue that at some point, after enough attempts, eventually I'll still shoot 80%.

After 8 years, what do we have?


The share of the labor force working part time for financial reasons rather than by choice shot up to more than 6 percent from around 3 percent prior to the 2007-2009 recession with an overall unemployment rate at around 10.4 percent. Those who work fewer than 35 hours a week account for a larger share of employment than before the recession, according to the Wall Street Journal. With about 2.4 million part-time employees today, that number is 84 percent higher than the 2003-2007 average, and this is a major reason why wage growth has been sluggish on a national basis.


^^from Jan last year^^

We have a job market flooded with part time jobs because, guess what, it's cheaper. No benefits, no ObamaCare. I remember saying 'companies will just hire two part time workers instead' and everyone making up excuses to try and explain why they wouldnt.

My point is, and has always been, the economy would bounce back like the stock market, no matter what. It's not an achievement, it's called regression to the mean. You or I could have brought us to this point (or better) after 8 years.

8 years. Lots of empty promises from 8 years ago.

[Dresta]

Then why does any of this matter? UK2K and Dresta are always getting their panties in a bunch over anytime Obama is brought up. Nothing more than mental *********ion by the both of them.
Stop talking about Obummer, dipshit; the US's economic woes long preceded him: he just made them worse. This a more a structural thing, a political/economic asymmetry, than something that can be blamed on an individual. I didn't bring Obama up at all (you did), though I don't like the way he brazenly lies to people, telling them the economy is great, and so on, when they know very well that it is not, from their own direct experience. This country has a vast underclass, created by falling wages and much increased cots of living, and Obama has only added to that problem (which is a sign of chronic weakness). That was the sort of thing left-wing types used to care about, but not the modern left, which seems purely obsessed with trivialities like race.

Lots of people on the actual left (you know, people who actually care about labour interests), are just as critical of the current status quo as conservatives, though I wouldn't expect you to understand that, poor indoctrinated little sheep that you are.



This will probably be used as an excuse not to raise rates... yet again.

This year shaping up to be a lot like last year. Fed reserve lying out of it's mouth about raising rates. Last year they were forced to raise the rate once at the very end just for credibility's sake after talking all year about it. When this year started, fed reserve officials were talking about raising rates 4 times :oldlol: Half the year has gone by and it hasn't been raised once. Economy must be doing really well lol
haha, yes. Every FED announcement is a carefully prepared propaganda statement, made to try and keep things chugging along based off confidence alone. And they keep pretending that what they're doing with interest rates is completely normal, and won't have any damaging consequences, when we've known for centuries that the suppression of interest rates creates economic distortions (and having interest rates so low for so long is basicallt unprecedented in world history).

Nope, nothing wrong here.

[PWB15]

what normal adult stops looking for work?:facepalm