Economists:
1. Jobless rate is low, it is just that tens of millions of Americans are unemployed.
2. Inflation is low, it is just that everything costs more.
1. Jobless rate is low, it is just that tens of millions of Americans are unemployed.
2. Inflation is low, it is just that everything costs more.
9
Credit to Obama for good news. Blame to Trump if bad news. I'll bet we all agree on that.
5
As someone who was laid off from a $220,000 a year communications job two years ago and since then have been working as a freelance content developer and ghostwriter, earning about $26,000 last year--there ain't no such thing as full-employment and way, way too many of us are underemployed or living hand-to-mouth like me on gig economy jobs.
We know that Trump is going to crow about these numbers, but don't be fooled--those of us who lost our jobs in the past 2-5 years will never see similar salaries ever again.
We know that Trump is going to crow about these numbers, but don't be fooled--those of us who lost our jobs in the past 2-5 years will never see similar salaries ever again.
7
Thank you President trump!
2
A retrospective look at President Obama's time in office shows that more than 90% of the jobs 'created' during his 8 years were part-time jobs. Want a part-time job with no fringe benefits? Students do...adults don't. So why so many part-time jobs, and adults willing to take these jobs?
It's simple: a high number of adults (20/25 and older) searching for fewer and fewer full time jobs. But ask why again.
"Since 2000, there are an additional 9.3 million jobs, an additional 18 million immigrants, and an additional 16.5 million working age Americans.
"If we look at the period after the Great Recession began, 7.8 million new immigrants arrived from 2008 to 2014, yet net job growth was just two million from the beginning of 2008 to the end of 2014.
"If we look at the period before the Great Recession, from January 2000 to December 2007, 11.1 million immigrants arrived and job growth was still only 7.3 million."
Do the math. Don't rely on government statistics, when the math is based on part of the truth, part of the real picture. Benjamin Disraeli is credited with saying, "There are three kinds of lies: lies, damned lies, and statistics".
Do the math and you will find that this is true: for every new job, there are two new immigrants. And there are desperate Americans taking one or two part-time jobs.
We've exported prosperity (manufacturing) and imported poverty (immigrants).
http://cis.org/for-every-new-job-two-new-immigrants
It's simple: a high number of adults (20/25 and older) searching for fewer and fewer full time jobs. But ask why again.
"Since 2000, there are an additional 9.3 million jobs, an additional 18 million immigrants, and an additional 16.5 million working age Americans.
"If we look at the period after the Great Recession began, 7.8 million new immigrants arrived from 2008 to 2014, yet net job growth was just two million from the beginning of 2008 to the end of 2014.
"If we look at the period before the Great Recession, from January 2000 to December 2007, 11.1 million immigrants arrived and job growth was still only 7.3 million."
Do the math. Don't rely on government statistics, when the math is based on part of the truth, part of the real picture. Benjamin Disraeli is credited with saying, "There are three kinds of lies: lies, damned lies, and statistics".
Do the math and you will find that this is true: for every new job, there are two new immigrants. And there are desperate Americans taking one or two part-time jobs.
We've exported prosperity (manufacturing) and imported poverty (immigrants).
http://cis.org/for-every-new-job-two-new-immigrants
5
So much for "job-killing" Obama-care and regulations!
1
What are you guys talking about? As recently as December the "real" unemployment rate, at least according to the right-wing noise machine, was forty percent thanks to Obama's totally screwing up the economy. I'd say it's a miracle on a par with walking on water that in just a few months President Trump has brought about a thirty-plus point swing in the unemployment; he's responsible for overnight creating millions of new jobs. Hail Saint Donald!
2
None of these figures mean much unless they are clearly defined and those definitions are consistently used. Good ole R. Reagan not liking the unemployment rate and employment hiring figures redefined who was employed, unemployed and who should not be considered as unemployed because they stopped trying to find a job.
Then in an always changing world, economy and political scene there is the reality that the definitions kept uniform are in fact changing. Is a desk job of 40 hours that covers the full expense of hospital/medical insurance with a great (or even good) retirement plan, increasing vacation time over years worked, reimbursement for educational expenses, etc. worth the same as a job at Walmart where supervisors advised new employees to apply for Medicaid, food stamps etc., because the base pay was so low that they were wage slaves?
More importantly, the jobless rate has little to do with these simple facts:
(A) 1% of the population own or control over 45% of the wealth and income of America,
(B) the average American employed or retired does not have social, economic or personal security based on employment,
(C) too many Americans work more than one job to make ends meet while their children, if able go to college, go into a lifetime of debt.
The picture accompanying this article shows what can be assumed to be a worker. When the bridge is finished, where does he go and with what benefits and future? The people holding the bridge bonds hold the answer.
Then in an always changing world, economy and political scene there is the reality that the definitions kept uniform are in fact changing. Is a desk job of 40 hours that covers the full expense of hospital/medical insurance with a great (or even good) retirement plan, increasing vacation time over years worked, reimbursement for educational expenses, etc. worth the same as a job at Walmart where supervisors advised new employees to apply for Medicaid, food stamps etc., because the base pay was so low that they were wage slaves?
More importantly, the jobless rate has little to do with these simple facts:
(A) 1% of the population own or control over 45% of the wealth and income of America,
(B) the average American employed or retired does not have social, economic or personal security based on employment,
(C) too many Americans work more than one job to make ends meet while their children, if able go to college, go into a lifetime of debt.
The picture accompanying this article shows what can be assumed to be a worker. When the bridge is finished, where does he go and with what benefits and future? The people holding the bridge bonds hold the answer.
45's policies are not yet in effect and the economy is by and large operating by Obama's policies. When 45's policies go into effect, many of us will find out the hard way that you don't make your car go faster by not putting on the seat belt and sawing off the brakes - if you do that, you are simply making sure that when you wrap your car around a tree, the occupants will be far more likely to be killed or seriously hurt. And without adequate health insurance. We paid a tremendous price under Bush'43 in terms of financial scandals and the Great Recession when Bush'43 last deregulated, and 45 and the Republicans are dead set on having us relive that experience.
4
Yes, when Obama left office, the unemployment rate was 4.9%.
But according to Trump, those numbers couldn't be trusted.
Now that he's president, though, the numbers, somehow, can be trusted.
Any questions?
But according to Trump, those numbers couldn't be trusted.
Now that he's president, though, the numbers, somehow, can be trusted.
Any questions?
3
One thing I do not see in the analysis of wage increases is the increase of minimum wages that many states passed the last couple years. I am not sure what those laws did to boost the economy. I am pretty sure it did not hurt the economy that so many conservatives said it would.
1
The unemployment rate has become meaningless as both Democrat and Republican parties have politicized the calculation of this number. The more accurate and relivant number is the labor participation percentage.
3
Just wait until the GOP gets some version of the AHCA (A Horrible Care Act) push through Congress and signed by the Trumpster. Then 20+ million Americans are left to suffer and die, that 4.4% could drop to ZERO. The GOP and Trump will all laugh and applaud about how they brought full employment to America.
3
Could the fact that Labor knows it can no longer hire poor immigrant laborers at diminished scandal plagued pay be the cause of their having to hire more citizens at the right wages?
1
Fellow citizens! Let us enjoy the good economic news. Imagine a world where the Democrats and the Republicans meet and declare their happiness with the numbers and shake one another's hand, pledging to get together every week to work on improving the economy. Imagine our congressmen selflessly giving credit to one another for a job well done, regardless of party!. "Oh no, you deserve the credit, you're much too modest" repeat Democrats to Republicans and vice versa....now imagine the sun rising in the West and setting in the East and go back to sleep, it was all a dream...the bums are still rushing to claim credit for the hard work done by you and I.
Should a repeal & replace happen conservative estimates are that it will mean the loss of over 3 million jobs just in the healthcare sector.
THAT will be DJT's legacy. And employment figures will be drastically different then.
THAT will be DJT's legacy. And employment figures will be drastically different then.
2
Just curious why this article and other "We're Getting Awfully Close to Full Employment" written same day each display Construction Work. No Offense-but is this an imperative piece of success?- because many kids struggling at school for other careers.
I am currently in South Carolina and seeing construction all over the place - large projects at least one year in progress. Thank you President Obama!
2
Thank you President Obama.
I miss having adult leadership in our highest office. You are missed!
I miss having adult leadership in our highest office. You are missed!
3
President Trump will leave the US Economy much much stronger than what he has inherited.
If the President gets the seemingly endless regulations and regulators off the back of the Corporates then i foresee Labour Shortages in US.
Corporates are raring to expand and invest trillions of $$ into the US Economy.
They now know that the wade of paperwork & paperchase is going to decrease under the President's visionary approach to business.
Added to which is the halo of the TRUMP EFFECT on H-1B visa & its extensive use & misuse depending on whom you ask.
The Indian Software Giant Infosys has decided to recruit 10000 Americans,more companies will follow suit.
The question is do you have the manpower to deal with the deluge of good creamy high paying Jobs.
The answer is NO.
Paradoxically,President Trump has enervated the world of business & politics and i am optimistic that the halcyon period of American Dream is on the horizon.
Kudos to the President.
If the President gets the seemingly endless regulations and regulators off the back of the Corporates then i foresee Labour Shortages in US.
Corporates are raring to expand and invest trillions of $$ into the US Economy.
They now know that the wade of paperwork & paperchase is going to decrease under the President's visionary approach to business.
Added to which is the halo of the TRUMP EFFECT on H-1B visa & its extensive use & misuse depending on whom you ask.
The Indian Software Giant Infosys has decided to recruit 10000 Americans,more companies will follow suit.
The question is do you have the manpower to deal with the deluge of good creamy high paying Jobs.
The answer is NO.
Paradoxically,President Trump has enervated the world of business & politics and i am optimistic that the halcyon period of American Dream is on the horizon.
Kudos to the President.
1
For those that think such things as job training programs are something new, and that hiring didn't start until the current President took office, I've got news. It's all a part of an on-going process that ebbs and flows. Well before the election, countless companies had large "Now Hiring," or "Help Wanted" banners strung on their building's exterior walls. Jobs programs? How far back does one want to go. NAB (National Alliance of Business) sponsored training partnerships. Federal programs such as CETA and JTPA, to say nothing about the local factories engaging with an AVTI (Area Vocational Technical Institute) for customized job training. So, let's not just assume that we are neophytes when it comes to partnerships. Finally, the factories that produce durable goods find it difficult to find trained machinists, fabricators, welders, and other tradespeople because we have, as a nation, become so focused on IT jobs. It can be tough for an employer to hire qualified factory types when she/he can find an IT job that pays as well or better, provides a work environment that is clean, air conditioned, and doesn't demand much physical exertion. It's not difficult to understand why business owners go to places where people will stand on their feet for eight, 10, or 12 hours per day and make piece parts, earning (for them) a living wage of a few dollars per hour.
1
I'm multilingual with 30 years' experience in finance and I have been looking for 7 months!
Full employment? Hah!
Full employment? Hah!
8
The very low Labor Force Participation Rate reflects your dilemma. There are literally millions of people over 50 that cannot find employment even when they will take ANY job. AARP administers the SCSEP program where one is taken on as a volunteer in business or government for 20 hours per week at minimum wage. While AARP states this is NOT an employment program, the fact is many "volunteers" are hired full time into decent jobs with benefits. Here's the address and good luck to you.
http://www.aarp.org/aarp-foundation/our-work/income/scsep/
http://www.aarp.org/aarp-foundation/our-work/income/scsep/
5
Unfortunately, this comes too late for women who turned 50 ten years ago. No one will hire us.
5
Lynn,
Try the AARP SCSEP program. They place you as a "volunteer" for 20 hours per week at minimum wage and it often leads to full time employment. You get to show your chops for a few weeks. AARP employees are awesome and can direct you to programs that help with food costs and medical coverage.
http://www.aarp.org/aarp-foundation/our-work/income/scsep/
Try the AARP SCSEP program. They place you as a "volunteer" for 20 hours per week at minimum wage and it often leads to full time employment. You get to show your chops for a few weeks. AARP employees are awesome and can direct you to programs that help with food costs and medical coverage.
http://www.aarp.org/aarp-foundation/our-work/income/scsep/
1
Thank you president Obama and Democrats.
1
The so called jobless "rate" does not include those not "actively" looking. If we count those fallen off the job market roles, the unemployment rate is over 20%.
The Clinton administration ordered this clerical change to drop out folks who had been looking for more than six month; this reported number now dramatically understates true unemployment and is nothing to celebrate. It's Brave New World type of language to say we have low unemployment. Spin, spin, spin.
So many of us are under-employed, and unemployed but not statistically accounted for nor recognized.
The Clinton administration ordered this clerical change to drop out folks who had been looking for more than six month; this reported number now dramatically understates true unemployment and is nothing to celebrate. It's Brave New World type of language to say we have low unemployment. Spin, spin, spin.
So many of us are under-employed, and unemployed but not statistically accounted for nor recognized.
3
The most likely reason for this is that the extended unemployment benefits from the past waive of layoffs is expiring and those people are falling off the unemployment roles. The added "jobs" are likely connected more to summer jobs, recent college grads and previously planned construction that can only precede in the warmer months most of which has nothing to do with Trump. Whenever Republicans take credit for something that seems to be a benefit to the "average American" you should be very suspicious and do your own research to confirm what they claim.
Yes. Thank you President Obama
And no, Texas, as head of a company I am not "hiring like crazy" because of our new con man in chief. Hiring is demand dependent.
And by the way, destroying healthcare will also destroy healthcare jobs and wages which will worsen labor numbers ongoing.
And no, Texas, as head of a company I am not "hiring like crazy" because of our new con man in chief. Hiring is demand dependent.
And by the way, destroying healthcare will also destroy healthcare jobs and wages which will worsen labor numbers ongoing.
6
Four words: Labor Force Participation Rate
Three words: Subprime loans teetering
Two words: Household Formation
One word: caution
Three words: Subprime loans teetering
Two words: Household Formation
One word: caution
As usual, the good stuff is buried at the bottom of the article. "There was a sharp drop last month in the BROADER MEASURE OF UNEMPLOYMENT...to 8.6 percent from 8.9 percent." That's a reference to the BLS' U-6, which is its most comprehensive measure of labor underutilization. Certainly worthy of more than a cursory nod.
Further, Diane Swonk says, "AS good as the report is, it points to how hard it is to bring in these marginalized workers". Those marginalized workers being the people who are not included in the Labor Participation Rate. They want jobs, but can't find appropriate employment.
Why not? That is the question The Times should be covering from the headline through the rigid analysis.
Further, Diane Swonk says, "AS good as the report is, it points to how hard it is to bring in these marginalized workers". Those marginalized workers being the people who are not included in the Labor Participation Rate. They want jobs, but can't find appropriate employment.
Why not? That is the question The Times should be covering from the headline through the rigid analysis.
3
Thank you Obama for your exit. Thank you Mr. Trump
for straightening Barack's mess. I'm a small business owner
and haven't had this much optimism for 8 years.
That's a long time to listen to the babbling of a college professor president who had zero business experience.
for straightening Barack's mess. I'm a small business owner
and haven't had this much optimism for 8 years.
That's a long time to listen to the babbling of a college professor president who had zero business experience.
1
Oh, that bad Trump. There he goes making America great again.
1
I can tell you what most business owners will not. We are so optimistic about the Trump presidency that we are hiring like crazy. Wait till you see the next set of numbers.
11
Misplaced optimism. As a business owner I can tell you, utter foolishness to hire on speculation about presidential policy, particularly with an amateur president who neither knows what is in "his" policies or how to get them enacted. There's only one good reason to hire, the inability to meet present demand. Projected demand is a crapshoot, kind of like trying to time the stock market. With your own business you only hurt yourself and your workers, with a publicly traded company you might see some flinty eyed auditors and board members at your door.
Ydo you really think that this switch could happen in a matter of a couple of months? Wouldn't the foundation of the previous administration count for something? Especially since Trump lost the popular vote by the largest margin ever?
You should be. This country is headed for war. Regardless of the human costs, wars help the job market.
Thank YOU President Obama, Thank you
21
Before you congratulate the fearless leader, please check out the actual numbers during the Obama administration. Only THEN can you see what you are congratulating the POTUS for, as if one man can do anything about these matters....
https://www.nytimes.com/2017/05/05/business/economy/jobs-report-unemploy...
Apparently you are just dying to continue the Obama years. Just compare the government/NYT reporting and see what makes more sense - unemployment rate or labor participation rate.
https://www.nytimes.com/2017/05/05/business/economy/jobs-report-unemploy...
Apparently you are just dying to continue the Obama years. Just compare the government/NYT reporting and see what makes more sense - unemployment rate or labor participation rate.
2
Thank you Obama.
14
Thank you President Obama
14
Are these jobs that pay a living wage?
13
Come on, give Pres Trump some credit
Thank you, President Trump! Making America great again!!!
11
America has always been great. The economic recovery (econ 101) doesn't turn on a dime.
Let's not get ahead of ourselves here!!
Sorry to see that you're fine with average, Average.
Thank God President Trump won the election. Make America Great again.
13
Don't worry the crash is coming. This too shall pass as return to the failed ideas of the last 100+ years.
With Acosta, a Trump appointee, heading up the Labor department, it behooves the NYT, and other responsible news sources, to verify that the methodology for calculating the unemployment rate has not changed. Are we still comparing apples with apples?
13
I believe we are still comparing half-apples with half-apples. An apple would represent a full time job, with decent pay and fringe benefits. The half-apple represents a part time job, with low pay and no fringe benefits.
Over 90% of the jobs 'created' during President Obama's time in office were part-time jobs. That's a retrospective look, and a year or so later a retrospective on President Trump's first full year can be done.
Want to work part-time, with no benefits because the number of hours worked don't meet the number of regularly-scheduled hours required to qualify for fringe benefits? No; neither do I.
Over 90% of the jobs 'created' during President Obama's time in office were part-time jobs. That's a retrospective look, and a year or so later a retrospective on President Trump's first full year can be done.
Want to work part-time, with no benefits because the number of hours worked don't meet the number of regularly-scheduled hours required to qualify for fringe benefits? No; neither do I.
2
Same method that Obama used!
1
I never trust Obama and I never will Trust Trump, Why he can't reverse the new prices on Gas Propane, Electricity, Rent, Housing, Food I can go on and on and this is today not yesturday so don't give me that.
Because our pay checks still about the same.
Because our pay checks still about the same.
Guillermo makes an outstanding point.
And with WTI oil trading in the $40s, with reserves overflowing, and with foreign oil pumping, how the heck is it that supply/demand is not working? Gas at the pump HAS to be under $2.00 in the USA to reflect anything but some crooked pricing.
And with WTI oil trading in the $40s, with reserves overflowing, and with foreign oil pumping, how the heck is it that supply/demand is not working? Gas at the pump HAS to be under $2.00 in the USA to reflect anything but some crooked pricing.
1
wake up timesfolk, we lost an election because we were asleep.
now, (as signs like employment figures and other eco-measures indicate), that the country (those of us you call with tolerance if not a hint of disdain "average americans") is beginning to move on, past blaming the russians, hating the trumps and glossing, if not reinventing, our failed candidate (whose lack of concern for "average americans" was clear from her mme defarge impression (defarge knitted, as she condemned, HRC wove baskets).
even today, given the anathema heaped on trump by the times and its ilk, the failure to grant more than grudging credit for the new numbers is petty (contrast that to the extended abuse that dominates columns, news and op ed attached to any issue no matter how much bending and twisting it takes), a failure to see the forest for the one tree to which you've tied your goat.
trump is potus and we can do more to help things get better...if he's restored a degree of confidence it can be leveraged by cogent effort to speed up things like infrastructure repair and sharpen focus on the senate effort to reshape health care and tax reform (both of which, for example, treat seniors badly) and most important, we can stop the taunting (and congressional sing-alongs) and get busy with the one thing that can give us a tool more substantial than "resistance": taking back the house in '18...the health care bill and its process have given us a huuge opening...so, wake up or we'll lose again.
now, (as signs like employment figures and other eco-measures indicate), that the country (those of us you call with tolerance if not a hint of disdain "average americans") is beginning to move on, past blaming the russians, hating the trumps and glossing, if not reinventing, our failed candidate (whose lack of concern for "average americans" was clear from her mme defarge impression (defarge knitted, as she condemned, HRC wove baskets).
even today, given the anathema heaped on trump by the times and its ilk, the failure to grant more than grudging credit for the new numbers is petty (contrast that to the extended abuse that dominates columns, news and op ed attached to any issue no matter how much bending and twisting it takes), a failure to see the forest for the one tree to which you've tied your goat.
trump is potus and we can do more to help things get better...if he's restored a degree of confidence it can be leveraged by cogent effort to speed up things like infrastructure repair and sharpen focus on the senate effort to reshape health care and tax reform (both of which, for example, treat seniors badly) and most important, we can stop the taunting (and congressional sing-alongs) and get busy with the one thing that can give us a tool more substantial than "resistance": taking back the house in '18...the health care bill and its process have given us a huuge opening...so, wake up or we'll lose again.
5
Your sentiments are well placed "tuttavia".
Regrettably, the Left, especially the witless yoots who long for a socialism that they do not understand, would rather that Trump and the country suffer so that they can have another shot in 2018 to do something other than lose more House, Senate, Governorships and local elections.
This is the country right now. NYT readers, and commenters like those above, might consider waking up!!
Regrettably, the Left, especially the witless yoots who long for a socialism that they do not understand, would rather that Trump and the country suffer so that they can have another shot in 2018 to do something other than lose more House, Senate, Governorships and local elections.
This is the country right now. NYT readers, and commenters like those above, might consider waking up!!
1
Some loss, better economy
Don't know if you are truly a democrat as you are showing so much insight to what went wrong it isn't funny. Most commenters here a crediting Obama for the jobs. He saved no ones job. If they had an ounce of sense they would know this is Trump's doing. Love it when your representatives talk about the "LITTLE PEOPLE" just the way the they say it drips distain.
3
Clearly still the legacy of Obama. Trump only gets to claim it if he also claims responsibility for March's dismal job stats.
15
But these are the phony numbers that Trump talked about during the election, right? When do we get the real numbers?
"Don't believe these phony numbers," "The number is probably 28, 29, as high as 35 [percent]. In fact, I even heard recently 42 percent." ~Donald Trump
"Don't believe these phony numbers," "The number is probably 28, 29, as high as 35 [percent]. In fact, I even heard recently 42 percent." ~Donald Trump
13
http://www.shadowstats.com/alternate_data/unemployment-charts
The true number is over 20%, if we use real statistics and not the accounting engineering that drops out those unemployed to long to care about. The change occurred during the Clinton administration. Under the old way of counting us unemployed humans, the true unemployment number is over 20%
The true number is over 20%, if we use real statistics and not the accounting engineering that drops out those unemployed to long to care about. The change occurred during the Clinton administration. Under the old way of counting us unemployed humans, the true unemployment number is over 20%
3
I guess the numbers must be real now. Same methodology of calculation, but I seem to remember that not long ago 5% was really more like 40% plus.
The times they are a changing.
The times they are a changing.
5
I am willing to bet a lot of those jobs are a) seasonal b) interns c) recently graduated college students. Period between February and March is a poor time to assess employment because a lot of temp positions are being created.
9
What season? Christmas hiring ended in December. Summer season hiring does not start until June. I thought the recently graduated college students are unemployed, living in their parents' basements per Candidate Hillary. Why does NYT publish this garbage from the uninformed?
1
Regulations are one of the few ways to prevent businesses from behaving badly (polluting, deceiving, harming, etc). Regulations are key restraints acting to reduce the evils of unbridled capitalism.
8
2/3 of our household is unemployed and unable to find work. We aren't showing up anywhere because we aren't drawing unemployment. This is because we have been unemployed too long. One adult is too gray for many employers and the other too young. I sit in between able to keep the household up while we wait- wait- wait. Then all I see from Washington are new Trumpcare plans that will impact all of us in difficult ways.
16
Although this article now insists that the President's policies make have little impact on the economy, meaning: If the President is a Republican and the economy is doing well, then the President has little to do with it; if the economy is bad, the Republican President is totally at fault. In the case of a Democrat President the opposite is true. And that is yet another example of biased ( fake) analysis of the news.
However, it is clear that there is more confidence and optimism in the economy since Trump was elected. Businesses like deregulation, the abolishing of the Affordable Care Act, which was all but affordable in spite of Mrs. Pelosi's insistence ( Did she even ever read it?); and the promise of a huge and simplified tax cut and tax reform. Those are Mr. Trump's pillars of his economic policy. So yes, he will deserve much credit if the economy surges to an annual GDP growth of 3% or more. This last quarter's GDP growth was an anemic .7% ( this article does not mention) which necessarily reflects the previous Administration economic policies.
Assuming that Mr. Trump gets through Congress his economic agenda and quickly, we will know soon enough if his policies work or not, and neither blame nor give credit to the former President. Either was I'm sure the Dems will figure a way to give Mr. Obama credit for the next 100 years, just as they blamed Bush for any down-turns during the Obama era. Hey, but that's politics.
However, it is clear that there is more confidence and optimism in the economy since Trump was elected. Businesses like deregulation, the abolishing of the Affordable Care Act, which was all but affordable in spite of Mrs. Pelosi's insistence ( Did she even ever read it?); and the promise of a huge and simplified tax cut and tax reform. Those are Mr. Trump's pillars of his economic policy. So yes, he will deserve much credit if the economy surges to an annual GDP growth of 3% or more. This last quarter's GDP growth was an anemic .7% ( this article does not mention) which necessarily reflects the previous Administration economic policies.
Assuming that Mr. Trump gets through Congress his economic agenda and quickly, we will know soon enough if his policies work or not, and neither blame nor give credit to the former President. Either was I'm sure the Dems will figure a way to give Mr. Obama credit for the next 100 years, just as they blamed Bush for any down-turns during the Obama era. Hey, but that's politics.
9
Removing health care from folks who really need it is one way to keep money in the coffers of the people who have plenty for their own care and who don't need the poor dirtying up their byways and pastures. Deregulating all those pesky rules and ridding corporations of the bother of cleaning up the environment after they've trashed it also ensures business leaders that they will take home their well-deserved (but perhaps not really earned) bonuses for the foreseeable futures.
What mensches you Republicans are, ABMIII,
What mensches you Republicans are, ABMIII,
The statistics or baseline this reporter is using to declare a near "jobless" rate need to be re-examined, as with many things in our era of new "normal". How many of these newly-hired workers earn a living wage? We've seen other reports about how wages still lag behind the employment rate. Why tout positive news without understanding what's at play below the surface? I'm a Cornell graduate, with a Master's degree in Design - a hot field. I've been looking for full-time employment for the past seven months. The only steady, reliable work I've found is in retail (which I am thankful for - but it's not enough). Someone needs to look at the Cog economy in the tech world - not the Gig economy. In tech-related jobs, all anyone cares about is if you can fit into a pre-determined role, even if that role does not have an industry-wide definition or understanding of the necessary skills or day-to-day tasks, which vary a great deal.
5
We've been told for at least the last 3 years that we are at full employment,
"a near jobless rate". But you and one of my adult sons offer proof that the majority of jobs "created" in the last 5 to 10 years are part-time jobs.
And it's not just you and my son; it's thousands and thousands of people, likely several million people, who are under-employed.
You and my son are competing with immigrants and with people in other nations whose work can come to them by email and return to the USA by email: designers, accountants, customer service, even X-rays and MRI's.
"Over the full course of the Obama years, though, there's been a net loss of about 300,000 manufacturing jobs. It's unclear if anything could have been done to stop manufacturing jobs from being cut in the darkest days of the Great Recession, when Obama took office. It's also unclear if, during an era of increased automation and heightened global competition, anything can be done to stop it from happening again." http://time.com/money/4636761/jobs-barack-obama-presidency/
"a near jobless rate". But you and one of my adult sons offer proof that the majority of jobs "created" in the last 5 to 10 years are part-time jobs.
And it's not just you and my son; it's thousands and thousands of people, likely several million people, who are under-employed.
You and my son are competing with immigrants and with people in other nations whose work can come to them by email and return to the USA by email: designers, accountants, customer service, even X-rays and MRI's.
"Over the full course of the Obama years, though, there's been a net loss of about 300,000 manufacturing jobs. It's unclear if anything could have been done to stop manufacturing jobs from being cut in the darkest days of the Great Recession, when Obama took office. It's also unclear if, during an era of increased automation and heightened global competition, anything can be done to stop it from happening again." http://time.com/money/4636761/jobs-barack-obama-presidency/
3
i think it was Mark Twain who said, "there are lies, then statistics."
7
"There are three kinds of lies: lies, damned lies, and statistics". It's one of my favorite quotes. Twain wrote about this in his autobiography and attributed it to Benjamin Disraeli.
"Figures often beguile me, particularly when I have the arranging of them myself; in which case the remark attributed to Disraeli would often apply with justice and force: "There are three kinds of lies: lies, damned lies and statistics."
- Mark Twain's Own Autobiography: The Chapters from the North American Review
"Figures often beguile me, particularly when I have the arranging of them myself; in which case the remark attributed to Disraeli would often apply with justice and force: "There are three kinds of lies: lies, damned lies and statistics."
- Mark Twain's Own Autobiography: The Chapters from the North American Review
I look back on America as an expatriate who moved to Provence 14 years ago. If the American economy is so great , why are Americans so miserable? Has Trump single handedly destroyed morale throughout the United States?
Here in France unemployment is stuck at 10% for years but the social democratic safety net saves most from abject poverty or sheer misery. In my former wealthy home town of San Francisco, drug addicts, the mentally ill, and alcoholics live in tents on sidewalks throughout the city.
The French complain about unemployment, immigrants, and corrupt politicians but when sharply questioned about their life style, they readily admit that they love France and would prefer living here than in any other country!
Here in France unemployment is stuck at 10% for years but the social democratic safety net saves most from abject poverty or sheer misery. In my former wealthy home town of San Francisco, drug addicts, the mentally ill, and alcoholics live in tents on sidewalks throughout the city.
The French complain about unemployment, immigrants, and corrupt politicians but when sharply questioned about their life style, they readily admit that they love France and would prefer living here than in any other country!
Before we get carried away, please note that the government does not count a person who no longer seeks employment or no longer collects any government unemployment benefits as unemployed. The true unemployment rate is probably close to double the "official" unemployment rate.
11
Trump's greatest contribution to this figure is his moratorium on regulations. As anyone who works in compliance knows, the Obama Administration was out of control. Even its own regulators couldn't keep pace and didn't even know how to meet their own regulatory requirements.
5
Here's a statement of ignorance re biology and a sustainable economy; i.e. one will serve our communities and their ecosystems in the long term.
Democratic and cooperative business enterprises (consider the Mondragon Corporation), that do not have monetary profit as the overriding goal, do just fine with regulations that protect air, water, land and other life within our broader community
Democratic and cooperative business enterprises (consider the Mondragon Corporation), that do not have monetary profit as the overriding goal, do just fine with regulations that protect air, water, land and other life within our broader community
This is a lie told by right wing think tanks. The Obama administration was not "out of control". Is usual, the truth is more nuanced and complex then little Americans brains can comprehend. I hope your grandchildren, their children and, if there are further generations, their children, enjoy the destruction your supporting. Already, many people whose lives are closest to the dramatic intersection where climate change is having its greatest effect are feeling it deeply. It will effect everyone. But besides that, when the economy crashes again, and it will, all we can do is hope that everyone that supported this abhorrent behavior and reckless deregulation suffers the most. Here's to your further foreclosure!
Thus, if you're unable to figure out how to regulate, then you just don't regulate.
Or if there's just too darn much regulation, you have to let some not-so-bad stuff alone. Is that right, AACNY?
Hey, there are a kajillion regulations in the whole medical field. Let's remove a bunch of them, now. And how about banking? And education. And ... well, everything!
Right? Right?
Or if there's just too darn much regulation, you have to let some not-so-bad stuff alone. Is that right, AACNY?
Hey, there are a kajillion regulations in the whole medical field. Let's remove a bunch of them, now. And how about banking? And education. And ... well, everything!
Right? Right?
While I am certain Trump will take credit for the decrease in unemployment numbers, he is no more responsible for the latest dip than Obama was for the high unemployment numbers he inherited from W. Bush. which peaked at 10% in October 2009. Once Steve Mnuchin and the many other Goldman Sachs appointees' implement their "trickle-down" policies, unemployment will increase among common people.
5
Trump doesn't care about "common" people.
But, I guess the unemployment rate isn't a fake any more. Funny how that can change from fake to real.
But, I guess the unemployment rate isn't a fake any more. Funny how that can change from fake to real.
Obama inherited an economy losing 800,000 jobs a month. When he left office we were gaining 200,000 jobs a month. An increase of one million jobs a month.
When Trump creates over a million jobs a month, then he can celebrate.
When Trump creates over a million jobs a month, then he can celebrate.
9
Paul, no president "creates" jobs - not Obama, not Trump.
The best a president can do is create an environment that is conducive to employment.
And by the way......... a retrospective look by Time Magazine shows that 90/94% of the jobs "created" during the Obama years were part-time jobs, with low pay and no fringe benefits. Retrospective will show what Trump can do/has done. It's too early for a retrospective.
The best a president can do is create an environment that is conducive to employment.
And by the way......... a retrospective look by Time Magazine shows that 90/94% of the jobs "created" during the Obama years were part-time jobs, with low pay and no fringe benefits. Retrospective will show what Trump can do/has done. It's too early for a retrospective.
Paul, many of us understand the concept of reversion to the mean. The drastic fall off in economic activity naturally led to a rebound, to some degree. Unfortunately, under Obama the economy barely grew, his regulatory burden stifled capital spending and hiring. True unemployment is over 20% if count it as it was always done until 15 years ago.
http://www.shadowstats.com/alternate_data/unemployment-charts
http://www.shadowstats.com/alternate_data/unemployment-charts
1
First, politicians including presidents don't create jobs. They can create a climate where businessmen/women can create jobs.
Next, according to Time Magazine et al, more than 90% of the jobs 'created' during President Obama's time in office were part time jobs.
Want a part time job with no fringe benefits? Nope.....I don't either.
Next, according to Time Magazine et al, more than 90% of the jobs 'created' during President Obama's time in office were part time jobs.
Want a part time job with no fringe benefits? Nope.....I don't either.
3
Wages rise... barely keeping up with core inflation, still outpaced by food inflation, still WAY outpaced by housing inflation in most areas. Working people are treading water at best. Those of you "thanking" Obama must be clueless. Nobody's grateful to have a minimum wage job being disrespected, with no benefits, no job security, no stable schedule, and forced to subject themselves to state humiliation by applying for public assistance.
Unemployment is down, sure, great, people are getting back in jobs. When do we restore their dignity, security, and peace of mind? Because until we do, you can expect continued political instability.
Unemployment is down, sure, great, people are getting back in jobs. When do we restore their dignity, security, and peace of mind? Because until we do, you can expect continued political instability.
4
Trump took over a thriving economy and his 100 days in the office has no barrier on how the economy is doing. Besides, he has been too busy, destroying the environment, undoing a health care that is working for millions, trying to start wars in places we have no business being at, spending our money having fun back and forth to his other White House, to play golf, to create jobs or make a difference in the economy.
3
The electorate will no doubt give Trump all the credit for any economic recovery.
2
If we are nearing full employment, isn't it an inopportune time for massive, deficit-creating tax cuts? At a time when the Fed is raising interest rates to counter inflation and you have low unemployment, big tax cuts would just increase the inflationary pressure.
The Trump tax policy seems as brainless as everything else.
The Trump tax policy seems as brainless as everything else.
7
Of course, Trump himself, when numbers were weaker for March, said that it was really too soon for him/his policies to be responsible. So, strong numbers are to his, not Obama's credit, but weak numbers are Obama's fault? Sure.
15
But for the last 8 years, when anything embarrassing hit the news, Obama insisted it was all Bush's fault
1
Thank you President Obama. This miserable country didn't deserve you.
80
That's pretty funny. If only an entire nation were more enlightened, Obama would be recognized as the great president you believe he was? That's an awful lot of people who didn't realize Obama's greatness.
1
Yes, thank you Obama for crushing the economy, for allowing North Korea, China, Syria, Iran, and Libya, to get out of control, and most of all for demolishing the Democratic Party.
6
I love Obama but who's to say employers aren't planning for Trump policies to kick in? Hasn't Wall street reacted that way? Didn't Trump "save 700 jobs" in November with promises of big tax breaks? Just asking.
5
The 700 jobs was a joke, at a cost of $7,000,000 in tax breaks. The only thing that his rhetoric has impacted in the short-term in the stock market, but it's inflated and will readjust.
We will continue to win win win, thank you President Trump.
16
Yes, winning without looking at the long term results of corporate welfare. Lawrence LOVES subsidizing big business, just like he loved subsidizing Donald's poor business decisions. Trump is a socialist. But not like Bernie. Trump is a socialist who only wants to benefit from socialism.
1
You are thanking the wrong President. our job growth is the result of President Obama's policies. BTW, Since Trump was elected the Dollar has dropped against all major currencies. It it worth less that before Obama took office. So all imported goods are costing use more under Trump. Does that say anything to you about how the rest of the financial world views Trump's financial policies?
1
Which leaves unanswered only the question of who the "we" are?
1
It must frighten our poor "progressives" that Trumps policies are likely to dramatically improve economic growth resulting in more and better paying jobs. That alone would ensure Trump wins a second term.
11
No North Nevada. Firstly, your Trump hasn't the ability to frighten anyone and secondly, his "economic growth" will fall to the already well-to-do and his 'trickle-down' theory that making the well-to-do even better off will somehow create jobs & growth for the rest of Americans was discredited as nonsense a long time ago.
14
Nope, not worried about that. We're still living in the Obama administration's economy. Any policies put forth by the current administration will still take a while to kick in. Also, all the policies they've said they want to implement were all tried under Regan/Bush #1 and Bush #2 and both times they hurt most Americans and also threw us into the worst financial crisis since the Great Depression. So, what I'm actually concerned about is another recession with the current administration at the wheel. Because if they are, judging by how they've handled everything else to this point, then they'll drive us right off a cliff.
Also, if these numbers were "fake news" just two months ago, why are they suddenly accurate and "real news" now?
Also, if these numbers were "fake news" just two months ago, why are they suddenly accurate and "real news" now?
26
They'll just continue their denial that Trump is president and continue to thank Obama for anything good that happens.
Pop quiz:
Who said, "I've been around long now and I think of myself as a young guy, but I'm not so young anymore, and I've been around for a long time and it just seems that the economy does better under the Democrats than the Republicans”?
And how long will it take for him to prove himself to be right, at least on this subject?
Who said, "I've been around long now and I think of myself as a young guy, but I'm not so young anymore, and I've been around for a long time and it just seems that the economy does better under the Democrats than the Republicans”?
And how long will it take for him to prove himself to be right, at least on this subject?
7
Obama's unemployment numbers were "phony" per your Trump. Are we to believe that under his theory of "alternative facts" his are to be believed? Sounds more like "alternative phony" to me.
17
While those laid off over the age of 50 continue to rot in unemployment hell. The new world of one click applications and showing your graying mug on Linkedin makes it easier than ever to bar the older unemployed worker from even getting considered. The least that could be done is lower the retirement age to 50 and let us forgotten workers tap into our IRAs without penalty. And now, too young for Medicare, we will also get hit bigtime if Trumpcare ever sees the light of day. Talk about death panels!
40
Reality cehck 400000 people retire from jobs pay living wage with health care . eCONMY ADDED 180000 part time temp jobs . Sound more like depression for person over 50.Then las tdepression that stopped calling it depression because only got worse . Age of deception is upon us
1
I just hired a 75 year old. Mostly as a result of not getting any other applicants. But its a good thing. As labor gets thinner due to all the hiring that's going on, these older people have an opportunity to find meaningful jobs.
1
According to TrimTabs Investment, which tracks actual monthly Federal tax receipts, in March 288K jobs were created not BLS 79K. And April saw 245K created, not 211K. Atlanta Fed predicting 4.3% GDP growth in 2nd quarter of , totally off the charts. When tax cuts, deregulation impact is felt, expect 6%-7% growth. Anyone with any skills at all, regardless of age, will be able to get a decent full-time job.
10
There are a few cabinet positions available for people with a high school education or GED certificate. Proficiency in Russian is a plus.
3
Pipe dream
1
You are so full of it, Mickey, I wonder what age you are. Low twenties? Thirties, but severely developmentally hindered?
Anyone with any skills at all will be able to get a decent full-time job? Folks with the skills required of a sales clerk -- who live where there are no longer stores that need sales clerks -- can work at what? People who have been trying for months, even years to find any job all after they hit 50 or so can now -- ta dah -- be offered no end of really good full-time jobs?
You are confused. Or something.
Anyone with any skills at all will be able to get a decent full-time job? Folks with the skills required of a sales clerk -- who live where there are no longer stores that need sales clerks -- can work at what? People who have been trying for months, even years to find any job all after they hit 50 or so can now -- ta dah -- be offered no end of really good full-time jobs?
You are confused. Or something.
Thank you, President Obama. The real president forever.
27
Hire a new worker last month, Thanks President Obama.
13
The boomers are retirement age, so we keep falling out of the job market.
8
Well the oldest boomers are, but not the middle or younger boomers. I think you forget that the boomers are a large generation with a span of several decades of time.
1
Nope. We have been pushed.
6
If you look at the prime working ages perhaps things have improved quantity wise. But if you look at everyone who
1. Wants to work but can't find a job
2. Has a job but is underemployed
3. Needs to work 2 or more jobs to make ends meet
4. Is a temp or contract worker who wants a job with benefits
you will find that there are more under and unemployed people out there than appear in the numbers. Then include those who have given up and things are worse. It's a myth that unemployment benefits keep people from working. They keep people out of complete poverty while they look for a job that pays them enough to do more than just survive. It's a disgrace in a country with such riches when people who cannot find work are told, in so many words, to drop dead. That's not a social safety net. Perhaps we need to rethink work, the work week, and what people are entitled to before more jobs disappear and more people can't find work.
1. Wants to work but can't find a job
2. Has a job but is underemployed
3. Needs to work 2 or more jobs to make ends meet
4. Is a temp or contract worker who wants a job with benefits
you will find that there are more under and unemployed people out there than appear in the numbers. Then include those who have given up and things are worse. It's a myth that unemployment benefits keep people from working. They keep people out of complete poverty while they look for a job that pays them enough to do more than just survive. It's a disgrace in a country with such riches when people who cannot find work are told, in so many words, to drop dead. That's not a social safety net. Perhaps we need to rethink work, the work week, and what people are entitled to before more jobs disappear and more people can't find work.
38
Agreed. The most critical new policy must be to get the chronically unemployed into smart training programs to enable them to meet the new employment demands of a new economy. As well, getting a fair minimum wage is of utmost importance if we believe that family time is important to children instead of people having to work 2 or 3 jobs to make ends meet. People must be treated fairly if we are to bring stability to all and to live up to the ideals of what this country is about. The "let them eat cake" attitude of the very rich is an old story with a very bad ending for them. Trump hides behind his form of populism while he maneuvers to give himself and his friends a very big payday with the proposed tax cuts.
3
Thank you President Obama!
22
what exactly are we thanking him for?
3
Obviously, you're out of the loop, so I'll point out the simple math. A president that has been in office for a little over 100 days cannot be a job creator. Even in light of scrawling his name on a few executive orders, those regulations son't get rolled back that quickly. THANKS OBAMA.
18
Last month, when the numbers were down, the blame went to Trump, now that the numbers are up, the praise goes to Obama??? You cannot have it both ways, and I believe the economy is improving based on the Trump agenda.
7
I'd like to see the non-Republicans come up with something that not only gets people employed,but helps with underemployment and under-paid positions. I say non-Republicans because their answer to everything is help the rich get richer at the expense of the working person, the poor, and the disabled. Anyone and everyone with real life experience knows what trickles down from Vodoo Economics... lower wages and little job stability as the wealthy stash their wealth. Funny how 1 or 2% of the nation is supposed to somehow kick-start and support a national economy. Anyone who buys that lie needs to look at that bridge in Brooklyn.. apparently it's for sale.
So we need to come up with policies that not only promote jobs, but promote jobs that pay a decent wage reflecting the difficulty, responsibility, and even danger involved. We need to see how we get to where we can all earn a living, not just some of us. Unfortunately, that would require VALUES that this country doesn't seem to engender. What is admired is winning. How you win doesn't matter. Nothing illustrates this more than the last Presidential Election.
So, I fear that there is no real answer to this other than legislating protections for the common working person. And that will never, ever, ever, happen with Republicans in power.
So we need to come up with policies that not only promote jobs, but promote jobs that pay a decent wage reflecting the difficulty, responsibility, and even danger involved. We need to see how we get to where we can all earn a living, not just some of us. Unfortunately, that would require VALUES that this country doesn't seem to engender. What is admired is winning. How you win doesn't matter. Nothing illustrates this more than the last Presidential Election.
So, I fear that there is no real answer to this other than legislating protections for the common working person. And that will never, ever, ever, happen with Republicans in power.
10
Thank you for pointing out that The folks supporting Trump are NOT Republicans. Republicans used to stand for conservation and true fiscal accountability.
6
Howdy JW,
I'm not sure I understood your point. I thought a large number of "non-Republicans" exist and they are called Democrats. And these Democrats are the same folks that proposed a large increase to the minimum wage and investment in sustainable energy infrastructure among other things. Look at California where there the renewable energy sector is one of the fastest growing in the country. Is this not what you are asking for?
I'm not sure I understood your point. I thought a large number of "non-Republicans" exist and they are called Democrats. And these Democrats are the same folks that proposed a large increase to the minimum wage and investment in sustainable energy infrastructure among other things. Look at California where there the renewable energy sector is one of the fastest growing in the country. Is this not what you are asking for?
Read em and weep Trump haters. And its only going to get better.
Trump 2020 Winning again
Trump 2020 Winning again
14
Spoken with all the alacrity, insight, and depth of a Trump supporter. Of course, if Trump doesn't win in 2020, it wont' be because he hasn't spent a great deal of his first term campaigning. He's getting very good at getting (some) people to accept lies and deceptions. He's doing a good job of getting folks to accept the fact that he doesn't read, knows little about the US Government or it's history, and that he's incapbably of coming up with a complete sentence unless it's from a speech he didn't write.
He's doing an EXCELLENT job of promoting his and his family member's businesses. And if his golf game is suffering, by God it's not his fault. (Practice practice practice!) So if this countries values are reflected in this President, then yes.. these will be boom years for the wealthy, while the people who actually work for a living get covered with more dirt and (*) in even deeper, darker holes.
Thanks Trump voter, we needed a good boost of low morals, low expectations, and NO accountability.
He's doing an EXCELLENT job of promoting his and his family member's businesses. And if his golf game is suffering, by God it's not his fault. (Practice practice practice!) So if this countries values are reflected in this President, then yes.. these will be boom years for the wealthy, while the people who actually work for a living get covered with more dirt and (*) in even deeper, darker holes.
Thanks Trump voter, we needed a good boost of low morals, low expectations, and NO accountability.
28
Sorry, but we're still living in the Obama administration's economy. The current administration hasn't put forth any policy that would have had any real impact yet. Also, don't forget that these numbers were "fake news" just two months ago, but now they're suddenly accurate? This must be due to an "alternative reality" were your "alternative facts" live.
14
The Trump Administration will have much greater success primarily because it has made job creation its top priority. There's never a moment when Trump is not promoting and/or encouraging US job creation. Companies are not going to ignore a president who's this serious about jobs.
1
This begs the question, when will the next crisis hit, if it isn't in the works already? If things are "great" now, that means that turmoil and collapse are not too far off.
You can't have yang without yin, and vice versa.
You can't have yang without yin, and vice versa.
4
Surprise! Payrolls in leisure and hospitality led the way. Well no kidding, it's nearing peak holiday time. How many of those jobs are permanent, full-time, with benefits and paying a living wage?
How many of us who are employed see raises that match inflation? (Nevermind raises based on performance or merit - those went the way of the dodo unless you're in the financial sector.)
Until we reinvigorate the middle class and see wealth moving downward instead of ever-upward, these reports are meaningless.
How many of us who are employed see raises that match inflation? (Nevermind raises based on performance or merit - those went the way of the dodo unless you're in the financial sector.)
Until we reinvigorate the middle class and see wealth moving downward instead of ever-upward, these reports are meaningless.
18
The numbers are seasonally adjusted so the time of the year does not matter very much. While preliminary seasonally adjusted employment in the leisure and hospitality sector was up by 55,000, between the pay periods that included March 12 and April 12, the preliminary unadjusted increase was 348,000.
4
Thank God for the resiliency of American businesses to succeed in spite of 8 years of an incompetent anti-business administration who was far more devoted to protecting illegal immigrants or disarming our military than doing anything substantive for the American worker.
10
And thank God for facts which indicate that the American economy has been improving for years despite Republican narcissism that believes that they and only them are responsible for all that's good in the world. The truth is Trump is responsible for some of the improvement but so is Obama.
11
you do realize jobs are not produced by the government don't you?
11
In that Obama did not do more to sabotage business which did not have his imperial mark on their shingle "green diverse & sustainable".
1
Is there a pattern here? Moderate Democrats give us peace & prosperity (Bill Clinton). Then extreme conservatives feel they have the luxury to get emotionally worked up & elect a mediocre unnecessary war-starter (GW Bush). Then international & economic disaster. Then the people elect a moderate Democrat who gradually brings us back to normal (Obama), with a lot of unnecessary obstruction by extreme conservatives. Then the extreme conservatives feel again they have the luxury to get emotionally worked up & elect a person of dubious competence & temperament, and then.......?
37
if President Clinton had not been distracted by the Lewinsky scandal he may have dedicated all his attention to getting Bin Laden after the USS Cole bombing. instead he was distracted by a mess of his own making and thousands of people suffused and died because of him being incompadent during President Bush's term. had Clinton done his job there would have been no reason to go to war in the middle east under Bush. Bush had to clean up Clinton's mess.
2
Yep. Same song.. which verse are we at yet? I fear it's dangerously close to when the fat lady sings.. as in ... over....
3
And if Bush had bothered to read and comprehend a simple memo, there also would likely not have been a war. Except they wanted to start one anyway to fulfill their ideological agenda. Then, Obama managed to find and kill bin Laden. Your point?
10
In the normal course, Democrats usually manage to overheat the economy. The Republicans then come in and manage to induce a recession. This historic pattern has been broken recently. G.W. Bush did the overheating by turning a blind eye to the looming mortgage mess AND then handed off a disastrous economy to Obama. Under his leadership and, perhaps, with the forced reduction of federal spending that came into play, the economy did not overheat but enjoyed modest, steady growth. That's where we are now...except, we aren't. Trump and the Trumpsters are the wild card.
With his pro-business above everything approach, Trump might not take the economy into recession, but I wouldn't want to bet against it, given his constantly changing positions and unsteadiness in the job. Not even Trump knows what he would do.
Republicans are the party of "I told you so", actually courting problems so they can blame everything on overspending and the Democrats. The counter narrative this time is Trump wants a booming economy so he can claim credit. We will see which side of the debate is winning when the first crisis comes along. If Trump then takes the country into recession, he would be following the long established Republican playbook, recession followed by a recovery in time for 2020 and the presidential election.
With his pro-business above everything approach, Trump might not take the economy into recession, but I wouldn't want to bet against it, given his constantly changing positions and unsteadiness in the job. Not even Trump knows what he would do.
Republicans are the party of "I told you so", actually courting problems so they can blame everything on overspending and the Democrats. The counter narrative this time is Trump wants a booming economy so he can claim credit. We will see which side of the debate is winning when the first crisis comes along. If Trump then takes the country into recession, he would be following the long established Republican playbook, recession followed by a recovery in time for 2020 and the presidential election.
5
Clinton passed off a bad economy to Bush. The business cycle cannot be predicted. Obama was actually very lucky to inherit such a bad economy because he never got blamed for the worst recovery in 70 years.
4
And why, pray tell, should Obama have been blamed? And really I did much better under Clinton than I did with Bush.. but that's just anecdotal. And, I'm not rich. Maybe there's the problem.
1
I guess it's possible Trump could double the deficit the same way Obama did. it would take some doing.
1
I despise Trump, but I have to admit I'm impressed that he's actually gone ahead and created a Manufacturing Jobs Initiative. Not sure it should actually be about manufacturing jobs, which seems to match with Trump's insistence that we can recreate the work world of the 1950s instead of focusing on the needs of the future, Liveris seems to have the right idea when he talks about pushing "for more apprenticeships, training and partnerships between community colleges and private industry that would produce people skilled in the trades." There are groups out there that are already doing work like this and Hillary talked about it on the stump and in the issues listed on her website, but it's too bad that something like this wasn't done under either President Bush or President Obama. Or was it and it was just too under the radar for most of us to hear about it?
11
he says and does minimally what he has to for the next election.
8
Once again Trump's intentions are misunderstood or ignored. yes, he wants to bring manufactoring jobs back, and he can bring a percentage of those jobs back but, Trump knows the work force thay will work those manufactoring jobs will need to be more tech savvy. those jobs will be designing and maintaining the machines that do the work, programing etc...
1
If DT really wanted to return manufacturing jobs back to the US, he would start by having all his stuff manufactured in the US.
Instead he only shows his hypocrisies.
Money, money and more money is the Only thing he wants.
"Intentions misunderstood......." Please, poor little Donny.
Instead he only shows his hypocrisies.
Money, money and more money is the Only thing he wants.
"Intentions misunderstood......." Please, poor little Donny.
I'll believe it when I see those people who haven't worked in a while get a shot at going back to work.
5
All these comments "Thanks Obama" or "Thanks Trump" - you don't understand how a powerful economy such as the U.S. works - the President has very little actual impact on the economy...
7
I think he had a big impact. Until I heard what Trump planned to do, I wasn't hiring or making anything new. Now I'm hiring like crazy, and I have a new product in the works. I am so optimistic I go around the office laughing and yelling "my taxes are going to be 15%!!!" Wooo HOOO! So yes it does has an impact!!!!! And this trickle down economics that has never worked....well I just hired a 75 year old, and a kid out of college. If that's trickle down economics, I can tell you they are tickled pink about it! I can finally grow my business...Don't let us down Mr. Trump!
If Obama gets the credit for job growth in 2017, will the Left also give him credit for the upcoming war in North Korea?
7
Obama heled save our economy, which came back faster than the rest of the world that was hit by the Great Recession, even though we were ground zero.
Over 11 million jobs were created in his last 7 years, continuous growth that continues into Trump's few months.
What has Trump actually done for the economy but make promises he likely won't/can't keep?
As for North Korea, President Obama never tried to out-crazy Kim Jong-un. If there's a war, it's all Trump's doing.
Over 11 million jobs were created in his last 7 years, continuous growth that continues into Trump's few months.
What has Trump actually done for the economy but make promises he likely won't/can't keep?
As for North Korea, President Obama never tried to out-crazy Kim Jong-un. If there's a war, it's all Trump's doing.
7
"US Job Growth Bounces Back"------------yes, it's been bouncing back thanks to President Obama. Trump will surely screw it up in due time.
14
Thanks Obama!
6
We have together, a lower unemployment rate and the utter defeat of the Democrat liberals. Is this a coincidence?
2
no surprise here you would make that assumption. will you make the same connection when we have to pay to clean up the environment, or pay for the wars
3
I asked an question. I did not state an opinion....
Utter defeat? trump lost the popular vote and is president only because "Slave" states" got to count their slaves when setting up the number of electoral votes. So is would be fair to claim that Trump bacame the President because of slavery.
Thanks Trump.
2
Under-employment and wage stagnation at all-time high. Tell that story, NYT.
9
Let's just hope the Demander in Chief doesn't screw it all up somehow... Just like GW, he's been handed a healthy economy, although you'd never know it based on his rants.
5
Let's just hope the Demander in Chief doesn't screw it all up somehow... Just like GW, he's been handed a healthy economy,
=================
Actually, Clinton handed Bush a recession - remember the tech bubble that burst
=================
Actually, Clinton handed Bush a recession - remember the tech bubble that burst
This "jobs report" belies the truth. When the worldwide depression hits some of us will not be surprised.
We need a paradigm shift towards frugality, moderation, slowing down to think about consequences, meeting-need-not-rewarding-greed, caring enough for honest and rigorous self-reflection with help if that isn't a strength, taking loving hence brave action not hateful hence fearful action.
https://www.ted.com/talks/pope_francis_why_the_only_future_worth_buildin...
We need a paradigm shift towards frugality, moderation, slowing down to think about consequences, meeting-need-not-rewarding-greed, caring enough for honest and rigorous self-reflection with help if that isn't a strength, taking loving hence brave action not hateful hence fearful action.
https://www.ted.com/talks/pope_francis_why_the_only_future_worth_buildin...
2
It pains me to say this, but, a good job's report coming off the heels of a health care victory in the House, Trump can spin this as a great week for him - I don't think anyone can argue to the contrary.
9
How do you account for the jobs last month when the first health care bill failed in the senate? Also those jobs in April were created long before anyone knew there would be a second attempt at resurrecting the president's health care bill.
The House voted how many times to repeal Obama's ACA? Heck sakes, it's easy to get an opposed health care bill through the House. That's no victory for Trump though he may claim one anyway. We're used to him lying to us. Now we will have to start getting used to him creating harmful legislation. Jobs haven't been added due to any new legislation created by Trump because he hasn't gotten anything of consequence passed.
US job growth back to normal after Trump hassled a few companies. Funny how Trump seems to think the work is so easy, He won the heath care battle about repeal and replace with a few phone calls, kind of like he won the war in Syria with only 59 million dollar Tomahawk cruise missiles and solved the ISIS problem in Afghanistan with the mother of all bombs. Oh, and I forgot, he achieved peace in the Middle East by talking nicely with Abbas, and maybe a piece of chocolate cake to boot. We are so lucky to have elected someone so successful and so smart. Maybe we should be preparing for his third term.
7
Lets see, Trump "save" a few hundred jobs at Carrier while at the same time the company lad of about 2000 workers?. And you call that Trump induces "job growth".
Can you imagine how much better the economy would be, if the FBI hadn't caused Hillary and all her counterparts to lose the election. We can only project how much more vibrant our economy would be if we had joined TPP. As soon as Trump is impeached things will get back on track.
1
The TPP? you must be kidding, or you must be ultra wealthy. The TPP is the only thing that Trump id's right about. It's an awful idea for everyone except multinationals, and the super wealthy.
2
The growth of 211,00 jobs for April is better than expected. This is good news for Republicans and hopefully they can increase this momentum in the coming months.
3
This is all smoke and mirrors when in reality most Americans are economically worse off than before the recession began. Trumpeting numbers like this is like adding insult to injury to the millions that face economic hardships due to stagnant wages, partial employment and skyhigh rental costs.
7
Trumpeting numbers like this is like adding insult to injury to the millions that face economic hardships due to stagnant wages, partial employment and skyhigh rental costs.
===================
Except when Obama does it
===================
Except when Obama does it
You need healthy people for jobs and jobs provide the tax money for Trump's tax cuts for the rich. There is only two possible scenarios. Either the deficit grows or more social programs will be gutted. Guess, what the Republicans will opt for.
Now. Just watch Donald Tump take credit for all this; to deflect from how this job growth was brought about in part by the previous Obama administration, and to distract from the cataclysmic effect the recently passed G.O.P. heath care bill will have on all Americans.
"Winning", Trump-style.
Fait accompli.
"Winning", Trump-style.
Fait accompli.
1
Trump who has accomplished absolutely nothing in his first 100 days but has created chaos with his every move will take full credit for Obama's vigorous and successful efforts to restore our economy after the horrendous Bush Crash despite 8 years of complete obstruction by the Party of No (aka the GOP). Trump and the GOP are now busy recreating the same circumstances that led to the 2008 collapse: Turn our economy completely over to the big banks and the 0.1% and let everyone else fall deal with the disastrous consequences.
3
The part that concerns me is the bit about aging skill sets. Let's say someone get's laid off from a well paid job. They're lucky enough to find full time work doing something else. The pay isn't as good but it's still paying the bills. Fast forward a few years. This person no longer has the same competitive and marketable skill set that originally made them employable in the first place. Now their most relevant experience relates to a lower paying profession.
Your talent is wasted and you're mostly likely stuck. You don't get the time back.
Your talent is wasted and you're mostly likely stuck. You don't get the time back.
37
If you have to change fields as I did, you fall right down the income ladder. It took me 10 years to make what I'd been making in my previous field. I'm lucky because I was single and didn't have a family to feed but if I had, I wouldn't have made it. It's nice to know that the country you pay taxes to to support politicians, the president, governors, etc., has no vested interest in helping you keep your head above water when you are ready, willing and able to work or retrain and that employers don't truly care about experience except to fire it.
7
Thank you Barack Obama.
24
Thank you, Barack Obama, or thank you for departing, Barack Obama?
2
Thanks Obama for your Wall St speaking tour. At 400k a pop it might loosen a few nickels from the wallets of his Wall St pals
In the UK the number of people employed has increased,
Wages have remained stationary or decreased.
Which is not logical. Market forces are not being allowed to operate.
The Reason is the mass influx of Eastern European workers into the UK wages have not increased for 10 years!!
Wages have remained stationary or decreased.
Which is not logical. Market forces are not being allowed to operate.
The Reason is the mass influx of Eastern European workers into the UK wages have not increased for 10 years!!
3
Hmm funny, that 10 year period also seems to coincide the continued ballooning of billionaire fortunes who pull on the strings of politicians... those same politicians who keep telling us that immigrants and poor people are to blame. Oh and wait, it also coincides with automation and the fact that we can make things 10 times as fast with a tenth of the people... but nah, you're right, it's probably just the immigrants.
2
Are you saying Eastern European workers, worked for less?
Job growth is a picture of how the labor market was nurtured in the three to five years prior to the statistic. This means that kudos go not to Trump, but to Obama. Period. Let's not forget this.
49
It's all about long term. Let's see if these numbers can keep up for a while.
2
But is this full employment as we used to know it: a steady full time 40hr week job? Or is it people cobbling together 2 or 3 part time jobs? I wonder.
8
"steady as she goes". This is all good news, but more importantly what is important to a stable, growing economy, which hopefully will help us grow out of our debt is initiatives like those of Apple, creating a billon dollar fund, which adds buoyancy to the direction of domestic job growth.
By incrementally fostering more work at home our citizens will feel more confident that their jobs will not evaporate to off shoring and in such an atmosphere feel motivated to be expansive in their own lives.
Such industry and governmental enabling, will 'increase our national 'pie' and hopefully, in proportion reduce our debt ratio. Debt service is killing us...literally.
By incrementally fostering more work at home our citizens will feel more confident that their jobs will not evaporate to off shoring and in such an atmosphere feel motivated to be expansive in their own lives.
Such industry and governmental enabling, will 'increase our national 'pie' and hopefully, in proportion reduce our debt ratio. Debt service is killing us...literally.
2
How does this sit with the dystopian horror that Trump constantly painted of America today. Unlike President Obama, he was given a robust economy despite his constant cries that these reports were "fake news." Sean Spicer will make a joke about it and laugh, but the lies he told the American people are not funny in the least.
10
Hmm. Does that mean that all those undocumented immigrants and Chinese are not stealing our jobs after all? Or, are they low-paying service industry jobs often filled by those working a second, or even third, job just to get by? It would be helpful to know the average hourly wage of these new jobs to answer these questions. Perhaps we need to add the hourly wage information (in color) to each bar with red being minimum wage, service-sector jobs, yellow between the current minimum wage and the proposed $15/hour minimum wage, and green those paying above $15/hour. That would provide much more useful information than just a single aggregate number.
26
It's Obama's fault!!!
Er, wait. No! This is good, this is good... Trump is delivering on his promise!
Er, wait. No! This is good, this is good... Trump is delivering on his promise!
5
Thanks President Obama! We sure miss your intelligence, class and decency.
15
Thank You President Obama!
13
Thank You Obama, I am sure Trump and comnservatives will take credit and then begin destroying everything.
15
THANKS OBAMA.
11
Wages are not really growing in MA and people are working fewer hours...housing, education and healthcare costs continue to grow. More young adults are living with parents or more than one roommate. I increasingly have trouble finding goods locally as retail stores close and I'm basically forced to buy some things online. And I worry about retirement even as I don't know how, or how well, we're going to survive a Trump presidency.
7
This is the typical cycle. The Democrats do the hard work cleaning up the Republicans' mess, the Republicans return to power, get the glory and promptly make another mess.
Repeat.
Repeat.
37
I'm a month shy of 57 with a BS degree and am embarrassingly underemployed. I've resigned myself to never having a decent job again because, despite the multitude of jobs allegedly available, no one even offers me an interview except for low paying jobs I'm woefully overqualified for. For most of 2015 I lived in a city with an, on paper at least, 2.7% unemployment rate. I was forced to work first at a convenience store on the 11P to 7A shift and then at a factory that paid $3/hour more but where the dusty environment aggravated my asthma so badly I had to leave. I then moved back to NJ and work for an an agency that helps the developmentally disabled but it pays so little I had to move into my 81 year-old mother's mobile home. I wish more employers would give folks like me a chance. I completely understand why so many give up.
38
And then you're going to lose any hope of having health insurance to top it off!
2
Christopher, I understand your pain because I've lived it. I'm 58 and living with my elderly mother and a handicapped sibling. I was very lucky and found a job after the company I worked for went belly up. But each time I had to find a new job it took me longer and longer due to my age. Employers will not give us a chance when there are so many others waiting to be just as underpaid as we are. They will not hire us because we're too close to retirement age. They won't hire us because we're not that special purple squirrel who shines ourselves up and lies like crazy to get a job.
If I lose this job I don't think I'll have the will to look again. I've been lied to, downsized, and taken advantage of too often by interviewers, employers, supervisors, and co-workers to want to keep on doing it. Besides, as our politicians have made abundantly clear to all of us: if we aren't part of the economic elites we don't deserve to live decent lives. I'd rather drop dead.
If I lose this job I don't think I'll have the will to look again. I've been lied to, downsized, and taken advantage of too often by interviewers, employers, supervisors, and co-workers to want to keep on doing it. Besides, as our politicians have made abundantly clear to all of us: if we aren't part of the economic elites we don't deserve to live decent lives. I'd rather drop dead.
5
Trump inherited from Obama an 8 year bull market, steady economic growth of around 2% per year, unemployment below 5% and millions more with health insurance than ever before.
However, Trump told his supporters the economy was a mess and he was going to make it better. Good luck Trump!
However, Trump told his supporters the economy was a mess and he was going to make it better. Good luck Trump!
22
You mean make the mess messier.
1
If Obama's economy was all that, many more people would have voted Democrat. Trump's middle class supporters weren't making it up -- their economic standing was deteriorating.
8
Thank you President Obama!
29
Learn a trade, and you will always find work. Carpenters, electricians, welders, iron workers, not the most glamorous, or high profile jobs. Many skilled blue collar workers I know hover just on either side of six figures
9
Don't forget auto mechanics. They are always needed and make good money. A lot of dealers are offering training because there is a shortage.
3
Economies have inertia. The graph embedded in this article shows the economic turn-around occurring somewhere in Obama's second year and from there on it has been steady and reliable growth. As such, we should expect continued positive economic trends under his previous leadership for the remainder of the year.
That being said, economist's generally agree with low corporate tax policy. The logic is to not tax system's that provide products and create jobs and to tax people instead. This is why we should expect to see a Trump Bump in the economy.
Unfortunately, Trump won't be matching the reduced corporate tax with taxes to the individuals who run them. We can therefore expect to watch lasting negative side effects, as is the case with every republican president, due to dwindling long-term investments into preserving a healthy, educated and trained populace.
That being said, economist's generally agree with low corporate tax policy. The logic is to not tax system's that provide products and create jobs and to tax people instead. This is why we should expect to see a Trump Bump in the economy.
Unfortunately, Trump won't be matching the reduced corporate tax with taxes to the individuals who run them. We can therefore expect to watch lasting negative side effects, as is the case with every republican president, due to dwindling long-term investments into preserving a healthy, educated and trained populace.
5
I need help squaring the strong labor market with the grumbling from the archetypal supporter of the president that the economy is bad. If it's due to regional differences, can they just move?
8
Since 2007? With an overheating real estate market? We all know what happened next back then
7
I don't believe we are near "full employment." I think we'll see more people entering the workforce and forgoing food stamps.
I'm waiting on GDP numbers.
I'm waiting on GDP numbers.
2
It's simple. Businesses and corporations know that they have a friend and ally in the White House. They put up with 8 years of being insulted and called greedy by Obama, and he has now left the stage. But not before he accepted big, big bucks from Cantor Fitzgerald for a Hillary like speech to the very people he excoriated for his entire presidency. Hypocrisy? Good riddance to him, and welcome to a president who understands that American business is not the enemy.
8
Oh, so suddenly employers are hiring? That's not how economies work, but nice try. You can thank the Obama admin for this steady growth, but of course the Trump-worshippers will claim he performed 'winning'.
My you receive everything he plans for you.
My you receive everything he plans for you.
4
This is great news. Fewer people on welfare and more on employer sponsored healthcare plans.
3
Typical simplistic view.
Actually, if Trump and the GOP pass their Corporate-care bill in the Senate, 24 million less people will be covered by healthcare.
Actually, if Trump and the GOP pass their Corporate-care bill in the Senate, 24 million less people will be covered by healthcare.
1
The numbers suggest that the real problem isn't a lack of jobs; rather, the problem is wages, which aren't indexed to inflation.
Thank you for putting the nation on a firm path to recovery, President Obama. Would that you could have a third term. I know I'd be sleeping better.
Thank you for putting the nation on a firm path to recovery, President Obama. Would that you could have a third term. I know I'd be sleeping better.
9
How many are not looking for work because, thanks to Obamacare, they are secure in their own private health insurance and don't need employer health insurance?
1
Yea! Those old sick people should just get a job! That'll solve everything.
1
This is what you get with a president who is intelligent, coherent and has a logical plan — recovery from one of our most serious (and scary) modern economic collapses. It was emotionally fueled by hope and confidence in the American people, not fear, not the demonization of others, not wild claims of carnage and alternative facts. In other words, leadership.
Thank you, President Obama.
Thank you, President Obama.
16
Or as Trump would say about the economy, "I inherited a mess."
5
Indian company Infosys has said it will hire 10000 American workers due to difficulties in getting H1-B visas. Cognizant also said it will ramp up American presence due to H1-B visa issues. So clearly Trump tightening H1-B visa rules has these benefits: (I) Forced H1-B visa companies to hire more American talent; (ii) Keep the wages competitive so that both Americans and talented immigrants get benefits of higher wages who were hitherto exploited by being paid low wages.
4
Giving Trump credit for this low employment rate is like giving someone credit for ascending Mount Everest after a helicopter has dropped them 100 feet from the summit. Also if you look carefully, the 211,000 jobs added are pretty average compared to a typical Obama month, I don't see how this can be qualified as "impressive", it's not.
46
100 feet? No. 10 feet.
2
So are these numbers we should believe, or are they more fake ones that we were are supposed to ignore?
I get so confused. Thankfully, I have Trump to tell me what to believe.
I get so confused. Thankfully, I have Trump to tell me what to believe.
3
Years of good work by Obama paid off! Thank you, sir!
Republicans spent YEARS hating on him, telling us all how he had destroyed the economy. In fact, Obama did more for the US economy than any President since FDR...
Republicans spent YEARS hating on him, telling us all how he had destroyed the economy. In fact, Obama did more for the US economy than any President since FDR...
9
In fact, Obama did more for the US economy than any President since FDR…
=================
Uh, no.
Average annual GDP growth under Obama 1.5%.
That's the lowest of any president since FDR. The only one who comes close to being that bad is Truman at 1.6%.
https://hudson.org/research/12714-economic-growth-by-president?ref=patri...
=================
Uh, no.
Average annual GDP growth under Obama 1.5%.
That's the lowest of any president since FDR. The only one who comes close to being that bad is Truman at 1.6%.
https://hudson.org/research/12714-economic-growth-by-president?ref=patri...
Name ONE single thing Obama did in support
of American business. I've been asking this for 7 years. I'm still waiting. The silence is deafening.
of American business. I've been asking this for 7 years. I'm still waiting. The silence is deafening.
2
These statisticians are employed so that's good enough for them to make these claims.
1
The rise in the stock market and now the reduction in unemployment are based on business perceiving a positive change because of the election. But, it remains to be seen whether changes in policy and regulation by the Trump administration will actually bring about a sustained positive change that will benefit business and the public.
Already, Trump's immigration policy has farmers complaining that there aren't enough worker's to harvest crops, this may be an unintended consequence that will bring about higher food prices.
We should remember that President Obama brought down the unemployment rate by nearly half and yet he was not given much credit for improving the economy.
The watch word is hope. Trump can't be given credit for positive changes yet. It is the possibility of positive change by business that is making the difference now.
Already, Trump's immigration policy has farmers complaining that there aren't enough worker's to harvest crops, this may be an unintended consequence that will bring about higher food prices.
We should remember that President Obama brought down the unemployment rate by nearly half and yet he was not given much credit for improving the economy.
The watch word is hope. Trump can't be given credit for positive changes yet. It is the possibility of positive change by business that is making the difference now.
1
We should remember that President Obama brought down the unemployment rate by nearly half and yet he was not given much credit for improving the economy.
=================
The only reason the unemployment rate came down was due to the lowest labor participation rate since 1979. Obama averaged 109,000 new jobs created per month, which wasn't even enough to keep up with population growth. Fewer people looking for work is the only reason unemployment is low
=================
The only reason the unemployment rate came down was due to the lowest labor participation rate since 1979. Obama averaged 109,000 new jobs created per month, which wasn't even enough to keep up with population growth. Fewer people looking for work is the only reason unemployment is low
1
In this partisan environment we find ourselves, it would be helpful to know if Democrats or Republicans are creating all these jobs. Otherwise, how will we know who to thank?
Companies will be no longer required to provide health care for their employees, in addition to tax loopholes that Trump will provide the businesses with. This gives a boost to the employment rate. But overall, average Americans will certainly gain less. We are moving towards slavery where salves have always "jobs" with a quality of life similar to real slaves. America is becoming the land of opportunity for people with money only. Elizabeth Warren talks about that, but she is still not brave enough to mention that democrats betrayed Americans more than any body else. As long as the leaders in the democratic party are people like Feinstein, and Schumer, there would be no hope for change. Even Steve Bannon has more dignity than those democratic leaders.
2
Look at this awful mess Trump inherited from President Obama. Job growth, higher wages and low unemployment will be next on the chopping block after Obamacare.
9
To me, these statistics are a statistical fiction: the true measure of unemployment is how many people are unable to work for Jesus Christ. It is frustrating for our compatriots to have to locate a soup kitchen to dispense our charity and good counsel.
1
Joe Barnett (below) is right to note that Trump campaigned on the idea that numbers like these are fake. Trump relies on the media and the public having an attention span even shorter than his. And more often than not, they do have small attention spans and smaller memories.
21
The Republican unemployment stats are not anymore accurate than the Democrats. There is definitely a considerably higher percentage of unemployed US citizens.
2
It takes all American to drive this country and when this country succeed, everyone succeed. I hope the liberals remember this when they pray for Trump to fail
1
This is something the repubs conveniently forgot for the last 8 years.
"United we stand, divided we fall" yes I agree.
But, I pray for Trump to succeed when he stops this charade that he is for the common man and not a corporate shill.
"United we stand, divided we fall" yes I agree.
But, I pray for Trump to succeed when he stops this charade that he is for the common man and not a corporate shill.
Thank you President Obama. Trump will thump his ego-inflated chest and his followers will blindly believe that he is wholly responsible. But i am happy to count myself among those with a memory of the numbers in 2008 and the numbers in 2016.
4
There is always more to the reports with respect to employment and wages that needs to be considered. What do these jobs pay, compared to those lost when unemployment was 10%? What health and retirement benefits, if any, are associated with them? Are they more cyclical in nature, and apt to disappear? Is there room for advancement/career building for those obtaining them?
Sadly, the trend for years has been that these "newer" jobs are lower paying, by comparison to the past, benefits are rare, and they are heavily tilted to the service sector which is more prone to instability.
Of course, the news is good - but only so far as it goes.
Sadly, the trend for years has been that these "newer" jobs are lower paying, by comparison to the past, benefits are rare, and they are heavily tilted to the service sector which is more prone to instability.
Of course, the news is good - but only so far as it goes.
4
More than a few economists and other social scientists have concluded that "conservatives" don't actually like situations approaching full employment, because of their belief that full employment breeds complacency and laziness among workers. These "conservatives" have such a profoundly negative view of human nature. Haven't these people ever considered that maybe people take pride in their work, especially when generously compensated?
Therefore, I fear that the present situation will be short-lived. Layoffs and restructuring may soon follow. A job market favorable to employees is NOT something that American-style conservatives have ever really liked seeing. It's similar to their attitude towards budget surpluses--rather than seeing it an opportunity to pay down the national debt, "conservatives" just see a budget surplus as another chance to blow a hole through fiscal solvency and cut taxes.
Therefore, I fear that the present situation will be short-lived. Layoffs and restructuring may soon follow. A job market favorable to employees is NOT something that American-style conservatives have ever really liked seeing. It's similar to their attitude towards budget surpluses--rather than seeing it an opportunity to pay down the national debt, "conservatives" just see a budget surplus as another chance to blow a hole through fiscal solvency and cut taxes.
2
I am worried that these unemployment figures will be accepted at face value without further analysis. They are from the very narrow U3 measurement of unemployment which does not count part-time and discouraged workers.
The new jobs are mostly for low pay and without benefits. They have brought about a drastic lowering of the average standard of living of Americans--tens of millions of whom have been driven out of the middle-class since the Great Recession began in 2007-08 (and it has not yet ended!).
Acceptance of these figures will lead to false confidence in the economy, and false economic confidence is always the precursor to a crash.
The new jobs are mostly for low pay and without benefits. They have brought about a drastic lowering of the average standard of living of Americans--tens of millions of whom have been driven out of the middle-class since the Great Recession began in 2007-08 (and it has not yet ended!).
Acceptance of these figures will lead to false confidence in the economy, and false economic confidence is always the precursor to a crash.
90
Wait you are telling the truth and ruining the narrative!
1
That is not an unreasonable argument, but generally the trend is more important than the value, and the trend is holding firm in both indicators.
This comment IS the story.
Thankfully, President Trump, Mitch McConnell, and Paul Ryan will be able to reverse this troubling trend. It's time to damp down wage inflation and return the nation's wealth to its true owners. The ACHA is a great first step. Whatever its effects on the poor (and, who really cares about them, anyway), the Bill will end the confiscation of hard-earned income from our country's top producers. Daffy Duck Republicans, dedicated to the timeless proposition "Mine. Mine. All Mine," should not let these Obama-initiated problems get them down. Help is on the way.
21
When that awful, great recession started, we heard from many economists and financial experts that it would take a significant amount of time to recover from this type of financial over-extension and real estate bubble collapse for various reasons. Of course, the 'experts' were right. The economy has steadily improved but it has taken a maddenly long time.
There remain large groups of unemployed Americans who are older or lack skills for the modern economy (and I suspect are not adequately covered in this 4.4% number). That should cause great sadness among us - not the "gotcha" mentality we hear from both sides frankly.
Pink Floyd:
"You are young and life is long and there is time to kill today.
And then one day you find ten years have got behind you.
No one told you when to run, you missed the starting gun.
So you run and you run to catch up with the sun but it's sinking
Racing around to come up behind you again.
The sun is the same in a relative way but you're older,
Shorter of breath and one day closer to death."
The world is changing rapidly and we're not going backwards to the pre-digital age or 80K per year jobs mining coal. Even the energy industries are moving into the 21st century. What we need are mechanisms to help retrain people who can still work, and sufficient safety nets to insure a baseline income and health insurance until they re-enter the workforce or retire.
This isn't rocket science, it just requires sound governance, which we don't have.
There remain large groups of unemployed Americans who are older or lack skills for the modern economy (and I suspect are not adequately covered in this 4.4% number). That should cause great sadness among us - not the "gotcha" mentality we hear from both sides frankly.
Pink Floyd:
"You are young and life is long and there is time to kill today.
And then one day you find ten years have got behind you.
No one told you when to run, you missed the starting gun.
So you run and you run to catch up with the sun but it's sinking
Racing around to come up behind you again.
The sun is the same in a relative way but you're older,
Shorter of breath and one day closer to death."
The world is changing rapidly and we're not going backwards to the pre-digital age or 80K per year jobs mining coal. Even the energy industries are moving into the 21st century. What we need are mechanisms to help retrain people who can still work, and sufficient safety nets to insure a baseline income and health insurance until they re-enter the workforce or retire.
This isn't rocket science, it just requires sound governance, which we don't have.
66
Maybe sometimes, you can still recognise that the man doing the "sound governance" for the last 8 years, while he couldnt make it not "maddenly long time", acheived more than could reasonably be expected given the starting point, and as such, maybe some lessons on his style and ideas have value.
Maybe.
But what do i know, i'm Canadian.
Maybe.
But what do i know, i'm Canadian.
All credit and thanks to President Obama for stewarding the economy out of a terrible recession.
118
A rosy picture made possible by broad averages, one that doesn't stand up to closer inspection. Lower wage jobs, a gig economy, boarded main streets, people living in their cars, life styles for 30 year olds that previously were limited to early 20's.
65
Thanks, Trump.
That's how it works, right? Current administration gets to take the credit and all problems are the issues of the last administration? Least, as a Times reader forever, that's how it worked with Obama.
That's how it works, right? Current administration gets to take the credit and all problems are the issues of the last administration? Least, as a Times reader forever, that's how it worked with Obama.
12
If Scott had been born and had lived during the recession which Obama was handed, rather than the quite bright recovery Obama handed Trump -- Scott's song might be more honest.
1
Quick, cut taxes for the rich and slash government spending before the plebs get overconfident!
10
Mr. Trump told us a 5% unemployment rate meant 50%. I wonder if he has changed is mind again?
14
What a bunch of angry people. Incredible!!!!
4
Low numbers in March = chortles of "No Trump bump".High numbers in April and it's all Obama's doing. Another day at in the Times.
11
We are close to full employment by one measure but on the other hand job participation is not growing as the Baby Boomers retire or leave the work force
We do have close to 6 million vacant positions , sadly those who are unemployed do not have the skills to fill these positions or are geographically remote from these jobs.
The result is there limited opportunity to improve the lot of people in our poorest counties and they can influence substantially the 2018 mid terms.
Also income inequality grows and will be further exacerbated by Tax reform and tax reductions in the Health Care proposals designed for the rich.
Jobs will not come back if consumer demand is anemic and the economic task is to enhance the income of the middle class, limit tax breaks to them, introduce a minimum wage, initiate industrial enterprise areas in the rust belt to produce products of the future, solar panels, inverters etc
We do have close to 6 million vacant positions , sadly those who are unemployed do not have the skills to fill these positions or are geographically remote from these jobs.
The result is there limited opportunity to improve the lot of people in our poorest counties and they can influence substantially the 2018 mid terms.
Also income inequality grows and will be further exacerbated by Tax reform and tax reductions in the Health Care proposals designed for the rich.
Jobs will not come back if consumer demand is anemic and the economic task is to enhance the income of the middle class, limit tax breaks to them, introduce a minimum wage, initiate industrial enterprise areas in the rust belt to produce products of the future, solar panels, inverters etc
19
Mark Twain said "they are liars damned liars and then there are the statisticians." if everything is so rosy why can't we get decent affordable health care ?
8
Thanks Obama
13
But labor force participation still stinks. Maybe the reason "... that workers who had been sidelined are not being drawn back into the labor market" results from precisely what the advocates of the ACA said they favored: making it easier to stop working. Put simply, if people don't have to work, they won't. We've made it too easy for large number of able-bodied people to survive at the expense of others without working.
And this demonstrates-- yet again -- the absurdity of leftist economic policy. The GOP "obstructed" BHO's attempts to increase taxes and for another "stimulus". The results of that "obstruction" speak for themselves.
If employers can't fill jobs at wages they're offering, they're going to have to offer more. THAT is how a free market works. And note that people at the bottom -- who have to compete with unskilled immigrants, legal and illegal, for jobs -- still lag. There is nothing better than a labor shortage to increase wages, and the easiest way to create one is to send illegals home and stop admitting so many unskilled legals.
We should build on this; increasing prosperity ALWAYS produces a better life for anyone willing to grasp it. Repeal corporate taxation -- tomorrow -- and we'll see $trillions flood the country -- tomorrow. Increased prosperity means smaller governmental obligations, like Medicaid. It's a huge win for everyone.
So, cut taxes, stop unskilled immigration, pare back guarantees which discourage work, and everyone will profit.
And this demonstrates-- yet again -- the absurdity of leftist economic policy. The GOP "obstructed" BHO's attempts to increase taxes and for another "stimulus". The results of that "obstruction" speak for themselves.
If employers can't fill jobs at wages they're offering, they're going to have to offer more. THAT is how a free market works. And note that people at the bottom -- who have to compete with unskilled immigrants, legal and illegal, for jobs -- still lag. There is nothing better than a labor shortage to increase wages, and the easiest way to create one is to send illegals home and stop admitting so many unskilled legals.
We should build on this; increasing prosperity ALWAYS produces a better life for anyone willing to grasp it. Repeal corporate taxation -- tomorrow -- and we'll see $trillions flood the country -- tomorrow. Increased prosperity means smaller governmental obligations, like Medicaid. It's a huge win for everyone.
So, cut taxes, stop unskilled immigration, pare back guarantees which discourage work, and everyone will profit.
8
Spot on, Michael...
The wailing and partisan-fed prophesizing of doom emanating from the left, fearful of what a successful Trump presidency might mean to them, is heart rending...
The wailing and partisan-fed prophesizing of doom emanating from the left, fearful of what a successful Trump presidency might mean to them, is heart rending...
1
The problem with your line of thinking is that employers are not having trouble filling jobs because they are offering wages at low levels below which applicants are willing to settle. No they cannot fill positions because there are not enough applicants with the requisite skill sets.
Excellent satire of the semireligious conservative ideology. "If people don't have to work, they won't". Like most conservative argument, this seems reasonable, bbut is in fact plain wrong.
So far not even a narcissistic, ignorant, empty suit with no self control and his policy empty congressional minions have been able to stop the economic train that Obama started in his first 100 days of his presidency, when he saved the economy from complete collapse.
The party of hate and greed is working on it very hard though, eliminating affordable health care for millions of Americans and preparing to pass the biggest transfer of wealth tax "reform" in our history, while they line their own pockets, eliminate the last of the middle class, and expand the national debt that finally will crush our economy for generations.
The party of hate and greed is working on it very hard though, eliminating affordable health care for millions of Americans and preparing to pass the biggest transfer of wealth tax "reform" in our history, while they line their own pockets, eliminate the last of the middle class, and expand the national debt that finally will crush our economy for generations.
11
There are also many workers who are victims of age discrimination that are not included in these numbers.
These individuals are either the long term unemployed or have accepted part time or low paying jobs to survive. They are not counted in the unemployment numbers.
These individuals are either the long term unemployed or have accepted part time or low paying jobs to survive. They are not counted in the unemployment numbers.
22
Employment/unemployment data are lagging indicators of economic assessments, sometimes by as long as six months. I'm sure Trump will claim all credit for the last figures since they are positive, while claiming that employment figures for February were the result of faulty calculations. And, so it goes.
3
Let's watch Trump pretend he isn't the lucky beneficiary of sound governance by President Obama. Making a giant tax cut to the top 0.001% is shameful.
Wealth is not = to worth.
Infrastructure is the best investment in American prosperity.
Trump should show his business savvy by making smart long term investments.
Wealth is not = to worth.
Infrastructure is the best investment in American prosperity.
Trump should show his business savvy by making smart long term investments.
7
Cool so more and more people are settling for their $8 an hour jobs, what about wage growth? Are people supposed to wait until ALL of the newly created McDonalds jobs to be filled before they can get a raise? Or do Corporate profits need to be 1000% of expenses before workers can get a raise?
Seems to me like WallStreet and the major corporations who have made all of their money on the austerity of their employees need to start sharing the wealth.
Seems to me like WallStreet and the major corporations who have made all of their money on the austerity of their employees need to start sharing the wealth.
12
Thousands of people commute by trains to the city near where I live. Dozens of jobs are available in my town and remain unfilled. Perhaps the advertised $12 to$17 per hour pay is not enough. Or maybe requirements that applicants do not have a criminal record, do not use drugs, and show up for work on time are too strict. But although many people are unemployed in the city, the trains return to the station in town with few people interested in walking less than a mile to many jobs.
2
Let's watch as Trump and his fellow Republicans take more of the luster out of the notion of "full employment." More and more, having a job means less and less.
1
Remember many of those back in the work force are working part time. Many too have dropped out completely.
4
Thank you President Obama for laying the foundation upon which the economy could recover and grow!
6
Wow, Trump's tax cut worked even before it was signed into law! The man is a miracle worker! I hope he claims full credit for this good news and all the good news and the creation of money.
4
To all the commenters saying these numbers are a fantasy or not real because there are so many who have given up looking for work:
Read the whole article. The labor force participation rate, which reflects people who have given up looking for work as well as others like retirees, is in there and is, in fact, down. Don't dismiss the numbers if you can't be bothered to read the context.
Read the whole article. The labor force participation rate, which reflects people who have given up looking for work as well as others like retirees, is in there and is, in fact, down. Don't dismiss the numbers if you can't be bothered to read the context.
3
Thank you, BARACK OBAMA! You succeeded in doing what many thought you could not do, and what the GOP did its best to prevent and obstruct you from doing: you cleaned up the mess left to you by your predecessor, the Great Recession, and the GOP. It was a good eight years. Many of us miss you. Let's hope the Democratic Party can adequately communicate to voters the dangers of going back to the same old destructive, trickle-up GOP "policies."
4
Let's revisit this in 9 months.
2
Both my brother and I, in our mid 50s, highly educated with multiple masters degrees, are under-employed. Good jobs kick you out at that age and replace you with cheap 20 year olds with high student loan debt forced to take low salaries. if you get hired again in your 50s, it is at half the old wage even if you constantly retrain. So, no, I don't believe any employment numbers, thanks.
20
Number 45 will take all the credit, but this is NOT the product of his first 100 days! Nuts. Let's see what the numbers look like in 6 - 9 months.
Bush inherit a great economy outlook from Clinton and messed up or at least couldn't keep the momentum
Trump inherited a great economy outlook from Obama. Let's see how it goes, but please, give all credit to Mr Obama
Trump inherited a great economy outlook from Obama. Let's see how it goes, but please, give all credit to Mr Obama
2
since trump has done NO work on a jobs bill, you remember, the one that would have well paying jobs flooding into the usa, all these numbers are to be attributed to obama
6 months after trump gets a bill passed, he will own these numbers
I'm always so confused by these jobs reports. I live in silicon valley and see nothing but a constant struggle by most of the people I know who are highly skilled to acquire a steady, full time job. I know many who are independent contractors, as I am too. Many full time jobs are now overseas, with hiring happening in places like Vancouver or Singapore, but not here, no. It seems that these reports do not track the shifting of technologies and the shifting from full time employment to contract. Is contract work considered "employed"?
I shudder to think of what will happen when automation and artificial intelligence really takes off. What will the jobs reports look like then?
I shudder to think of what will happen when automation and artificial intelligence really takes off. What will the jobs reports look like then?
67
We added 15,700,000 jobs from Jan 2010- Jan 2017, an average of 2.25 million per year.
So far in this administration we've added 500,000.
To the minority that now rules, half empty became half full on Jan 20.
And thus consistency becomes perceived boom.
So far in this administration we've added 500,000.
To the minority that now rules, half empty became half full on Jan 20.
And thus consistency becomes perceived boom.
4
Thank you, President Obama.
253
...especially for staying out of the way.
LOL
2
With virtually full employment and tens of thousands of jobs left unfilled we may have to turn to...immigrants!
52
"Lies, damned lies and statistics"
9
These numbers are a fantasy. Lots of folks stopped looking and lots more are underemployed.
36
Obama culture grown in Obama's Agar and lived and voted from Obama's Petri dish.
Well then we need to end subsidies to the folks sitting on the backsides.
Putting people to work for pittance wages and part-time jobs doesn't constitute "full employment" to anyone but a statistician or a politician. And these jobs will last perhaps as long as their health holds.
50
I don't think most young people are lazy; I think our system makes it almost impossible for most of them to compete in the changing job market. The student loan fiasco is keeping most people from obtaining a college education. The United States should start investing in its young and its future and provide them with a free college education as they do with high school. Of course, the banks wouldn't like that one bit and would probably withdraw their financial support to politicians, which is really our main problem with just about everything today. It’s the American general population vs. big corporations and banks and corrupt politicians. The American people need to start fighting for what it rightfully theirs: A complete education and healthcare for all.
27
Wow barely over 100 days in office and Trump is causing all of this growth. #4moreyears
4
Your joking right? This is not related to Trump`s very short time in office. This is the result of policies and processes initiated prior to your beloved Trump.
You're joking, right?
Ha ha ha! Good one! Sell me another...
1
Wow! America continues to benefit from the intelligent and considered policies of President Obama. This stellar man continues to help fellow citizens advance their condition even after leaving office. He has every right to feel proud but he'll never utter a word--unlike the current occupant who will take ALL the credit. I was a proud American during Obama's administration. Recent events have made me pawn myself off as a Canadian. To do anything less opens a hornets nest of discussion, of questioning and of inexplicable exhaustion. Try explaining to non-Americans (who were once respected) how this horrible, ignorant and arrogant man assumed office. Try it, I dare ya!
22
WRIGHT Steven, You shouldn't "pawn yourself off as a Canadian" but stand your corner and explain what's happened to your country. It's really the least you can do because your country has (unfortunately) elected a ghastly loose cannon that endangers the whole planet.
Tell this to the millions of Americans who have simply given up trying to find a job and who are not counted as "unemployed". Or the ones who simply work off the grid doing barter and cash only work just to live. Or the millions who are now on some form of disability though they could work. Or the millions who have "jobs" - three or four of them. Just to survive. Withdrawal in disgust is not the same as full employment.
16
This number in no way reflects the real unemployment rate. These numbers do not include:
1. The underemployed or those who have taken part time jobs while looking.
2. People that have not looked for work during the last 4 weeks.
3. People who have given up hope looking for work.
Estimates are people in these categories would add about 10 million additional workers if they were included in the unemployment numbers.
1. The underemployed or those who have taken part time jobs while looking.
2. People that have not looked for work during the last 4 weeks.
3. People who have given up hope looking for work.
Estimates are people in these categories would add about 10 million additional workers if they were included in the unemployment numbers.
19
Hey Don, good points, however, the new age hiring works on a simple formula-skills . Be in in Information technology, Data Science robotics, Green Technology, Engineering.
These are currently a scarce resource, hence if companies unable to find local, they are pursuing foreign talent.
These are currently a scarce resource, hence if companies unable to find local, they are pursuing foreign talent.
These figures are a benchmark because, over time, they clearly represent trends.
The Dow-Jones is only 100 stocks, but it is used to take the temperature of the broader market. The fact that it isn't a deep look doesn't invalidate its use.
The Dow-Jones is only 100 stocks, but it is used to take the temperature of the broader market. The fact that it isn't a deep look doesn't invalidate its use.
My guess is that the health care industry will begin to lose jobs due to TrumpCare. Healthy people do not generate revenue for the health care industry, insurance coverage does.
7
True, they no longer have a blank check of taxpayer subsidies to draw from. Man have they squealed.
1
Yup Ryan, but does that make good economic sense? You need healthy people for jobs and jobs provide the tax money that will replace Trump's tax cuts for the rich.
2.5% increase in wages over last year
2% inflation
.5% increase in wages
Substantial increase in premiums in Trumpcare
24 million + more people without health insurance just hoping to never get sick
huge tax cut for the wealthiest
So many great accomplishments. Where to start?
2% inflation
.5% increase in wages
Substantial increase in premiums in Trumpcare
24 million + more people without health insurance just hoping to never get sick
huge tax cut for the wealthiest
So many great accomplishments. Where to start?
6
What are the real quality of these jobs? Are these jobs with actual middle-class salaries and good health benefits?
6
What do you think? It's a mixed bag. Do all applicants looking for work have the same skills?
Yup, I'll take fries with this job report.
Almost all of the employment available today is only minimum wage, part-time work with no benefits.
May as well say full wage slavery positions have had an uptick.
Always happens in the springtime. More construction, seasonal junk tourism jobs, yard care services, on and on.
You too can earn 8 dollars and hour digging ditches, folding tee shirts, housepainting and making beds.
Almost all of the employment available today is only minimum wage, part-time work with no benefits.
May as well say full wage slavery positions have had an uptick.
Always happens in the springtime. More construction, seasonal junk tourism jobs, yard care services, on and on.
You too can earn 8 dollars and hour digging ditches, folding tee shirts, housepainting and making beds.
20
Yet more proof that you don't have to lower taxes to create jobs. This is Obama's true legacy unfolding right now.
In a few years when the robber barons have taken over the economy under Lord Trump's leadership, us peasants will be looking back on the 'Good old days' of 2016-17 when America was great for non-billionaires.
In a few years when the robber barons have taken over the economy under Lord Trump's leadership, us peasants will be looking back on the 'Good old days' of 2016-17 when America was great for non-billionaires.
12
The Unemployment Rate graph indicates a consistent decline in unemployment since 2010. Yet, wait for the claim from Donald "I alone can fix it" Trump that this is his victory after being in office for just over 100 days. Americans should thank Obama for leading this country out of of a disastrous economic situation.
12
Look at the trend line. This just follows the trend Obama started, no gain no loss for Trump.
7
I wish there was some way to show the American people what would have happened if Trump had become president instead of President Obama after Biush got through trashing our economy. That would be the ultimate eye opener.
5
Wally,
You don't seem to be connecting the dots very well. Goldman Sachs was one of the main culprits in the 2008 melt down, and Trump's staff is made up of...you guessed it, many former Goldman Sachs employees.
Does the expression, "The fox is guarding the henhouse," ring a bell?
The ultimate "eye opener" would have been the unmitigated (no one between GS and the gov't treasury) graft, greed, and corruption Trump would have presided over.
You don't seem to be connecting the dots very well. Goldman Sachs was one of the main culprits in the 2008 melt down, and Trump's staff is made up of...you guessed it, many former Goldman Sachs employees.
Does the expression, "The fox is guarding the henhouse," ring a bell?
The ultimate "eye opener" would have been the unmitigated (no one between GS and the gov't treasury) graft, greed, and corruption Trump would have presided over.
3
OMG NO! I guess I wasn't clear. I meant what a disaster it would have been if Trump had been president after Bush. We probably wouldn't even have a working economy left.
2
Trump in 2016: "I've seen numbers of 24 percent -- I actually saw a number of 42 percent unemployment. 42 percent. 5.3 percent unemployment -- that is the biggest joke there is in this country. The unemployment rate is probably 20 percent, but I will tell you, you have some great economists that will tell you it's a 30, 32. And the highest I've heard so far is 42 percent."
So unemployment must now be about 21% or 31, 33 or as high as 41%.
So unemployment must now be about 21% or 31, 33 or as high as 41%.
5
Just a reminder -- employment data is usually a lagging indicator. It represents more of the previous momentum of the economy than the future direction. The jobs report is welcome news -- a tight labor market is good for everyone -- but it is hard to read too much into the numbers.
31
All that recovery time since 2007 is primarily the 8 years of President Obama. Thank you President Obama for your steady and sane hand on the wheel.
12
We should remember that Trump is in charge of the Labor Department which issues all these numbers. Anything he says is suspect.
3
Just follow the post Clinton Bush presidency month to moth if you want to know what awaits us. Same thing... Repubs inherit growing economy, then destroy it whle taking care of the rich.
24
I wonder how many people like me want to literally punch The Con Don out when he tries to take credit for things?
Imagine the ten-year old Little Boy Don riding around New York in his daddy's limousine and thinking, "Some day this will be mine".
Our nightmare. The Good People of France got rid of their real "royalty" during the French Revolution by lopping off their heads all the way down the royal line. WE have no royal kings or queens in America - and do not want them.
How to stop the wanna-bes? Take away their toys - money. WE must get our 401K money off the craps tables they call "markets".
WE must use our consumer might to remind them who really keeps America and the world going - US. It is past time for regular America- wide boycotts against the worst tax evaders. One week do not buy any Apple product. One week do not buy anything from Amazon. One week do not use the internet. One week drive only when necessary and do not buy gas. One week do not make any health care appointments except in an emergency. One week do not fill any prescriptions. Do you get the picture? We need a national "Boycott" organization to give us a schedule and we must pass the word.
Every action needs a counter action so think of something positive to do in the same arena during the boycotts. Praise the good things we see happening every day.
WE THE PEOPLE HAVE THE POWER AND MUST USE IT FOR POSITIVE CHANGE.
Imagine the ten-year old Little Boy Don riding around New York in his daddy's limousine and thinking, "Some day this will be mine".
Our nightmare. The Good People of France got rid of their real "royalty" during the French Revolution by lopping off their heads all the way down the royal line. WE have no royal kings or queens in America - and do not want them.
How to stop the wanna-bes? Take away their toys - money. WE must get our 401K money off the craps tables they call "markets".
WE must use our consumer might to remind them who really keeps America and the world going - US. It is past time for regular America- wide boycotts against the worst tax evaders. One week do not buy any Apple product. One week do not buy anything from Amazon. One week do not use the internet. One week drive only when necessary and do not buy gas. One week do not make any health care appointments except in an emergency. One week do not fill any prescriptions. Do you get the picture? We need a national "Boycott" organization to give us a schedule and we must pass the word.
Every action needs a counter action so think of something positive to do in the same arena during the boycotts. Praise the good things we see happening every day.
WE THE PEOPLE HAVE THE POWER AND MUST USE IT FOR POSITIVE CHANGE.
12
Trump: All my lying and blustering is having a bigly effect. Believe me.
9
Thanks, Obama. Seriously.
119
America's unemployment figures with be the best ever when President Trump
declares was on North Korea, Iran, Canada, and northern New Zealand.
And when the draft is returned to its former glory, all conscripted individuals in the Armed Services will have the Best health care plan.
declares was on North Korea, Iran, Canada, and northern New Zealand.
And when the draft is returned to its former glory, all conscripted individuals in the Armed Services will have the Best health care plan.
5
• An impressive 211,000 jobs were added last month, bringing the three-month average up to 174,000.
• The unemployment rate was 4.4 percent, down from 4.5 percent in March and the lowest rate in more than 10 years.
Helluva mess you inherited there Donald, a helluva mess.
• The unemployment rate was 4.4 percent, down from 4.5 percent in March and the lowest rate in more than 10 years.
Helluva mess you inherited there Donald, a helluva mess.
Thank you Barack Obama and your pro-American economic policies. Now let's wait one year and see what the latest round of Republican Voodoo Economics brings in comparison.
28
Thank you Mr. President....And that's President Obama....I wish you could have run a 3rd term...
19
POTUS Trump is amazing !
All these jobs in less than 110 days.
Let's hope his impeachment on charges stemming from the Russian Collusiongate can be accomplished in less time.
All these jobs in less than 110 days.
Let's hope his impeachment on charges stemming from the Russian Collusiongate can be accomplished in less time.
21
Wow, how is this even possible WITHOUT tax cuts for the wealthiest over the last eight years??
(heck, we even raised their taxes!)
I mean isn't that how economics works?
Somebody tell Paul Ryan.
Break it gently.
(heck, we even raised their taxes!)
I mean isn't that how economics works?
Somebody tell Paul Ryan.
Break it gently.
185
The positive indicators reported today are linear continuations of the economic recovery since 2010 engineered by President Obama. Thank you Barack!
94
What happened to all the focus on the lack of wage growth which were the headlines under Obama even as unemployment fell . The BLS report shows that average weekly wages were $367.87 in March 2016 and 367.83 in March 2017. So wages are falling while the stock market is soaring.
https://www.bls.gov/news.release/pdf/realer.pdf
https://www.bls.gov/news.release/pdf/realer.pdf
Yet shadowstats.com shows unemployment for April as 22.1% - slightly higher than 2010 and labor force participation numbers continue to drop.
All is not as well as official statistics would indicate.
All is not as well as official statistics would indicate.
3
when considering 14 yr olds and the elderly and disabled, sure.
Andy Rooney mode on.
Ever notice that we hit "full employment" just before everything goes south? We're at a 10-year low. That was 2007. Remember 2008?
Time to bury those gold coins again...
Ever notice that we hit "full employment" just before everything goes south? We're at a 10-year low. That was 2007. Remember 2008?
Time to bury those gold coins again...
Most of these are low payed jobs at the level of pure subsistence. To appease their wealthy donors, elected republicans are reluctant to raise the minimum wage to match it with salaries of most developed countries out there. if you wanna get a decent job that will cover just your bills, you need to pay a lot of money and go through our educational system, then get years of experience, after then, maybe, someone will be interested in you.
i am in this situation now. In my late 30s, lost the business and trying to find a job but the options i have now won't even finance my monthly rent and food.
i am in this situation now. In my late 30s, lost the business and trying to find a job but the options i have now won't even finance my monthly rent and food.
16
…soon to be revised downward like they do after every "good" month of job growth. As Steve Bolger writes, the job participation rate ought to be the indicator that tells the true story - and it's at an all-time low - or high, as the case may be. 63% out of the market? The faux-feds look only at the U-3 rate to blather to the public/media - which is about 4+% unemployment. But take into account the U-6 rate, and suddenly there are almost 10% unemployed. Then add in the out-of-work, those who have given up looking for work, and anyone else who can't find nor want a job, and lo and behold, unemployment is close to 24%…and guaranteed to go higher, despite the bloviation about jobs creation, making amurika strong again, and bring home the corporations because we won't tax them so much…it's all mendacious bogosity to bamboozle the public into passive obedience and acquiescence as the wealth transfer continues…
Some folks don't need to work…didn't Obama just get $400,000 for speaking fees? Didn't the Hillary Brand get millions while in and out of office for cosying up to her elite buds in Wall Street? And Trump…worth a few billion…
Once the healthcare (sic) program gets underway, it'll cost the public even more than it does now…welcome to the vanishing wealth effect. Get ready to choose between feeding your family or paying for your medical bills. And that job you were promised? Bwwaaaahhhhhhaaaaa…gone.
Some folks don't need to work…didn't Obama just get $400,000 for speaking fees? Didn't the Hillary Brand get millions while in and out of office for cosying up to her elite buds in Wall Street? And Trump…worth a few billion…
Once the healthcare (sic) program gets underway, it'll cost the public even more than it does now…welcome to the vanishing wealth effect. Get ready to choose between feeding your family or paying for your medical bills. And that job you were promised? Bwwaaaahhhhhhaaaaa…gone.
2
unemployment is close to 24%…
no, no likely. IF it was, there would be a lot of people standing around doing nothing. And crime would be higher.
no, no likely. IF it was, there would be a lot of people standing around doing nothing. And crime would be higher.
1
You are not entirely wrong. When the Obama effect slacks off, the jobless rate will go up. Also, when the stock market Obama effect slacks off we will be in for a big correction. Trump's tax cuts will effect both employment and the stock market but not in a positive way. By then even Republican voters will stop smiling. Only Trump will see his failures as positive and will continue to gloat.
30
There is a terrible irony in this for Trump. Normally, two supposedly positive news announcements two days in a row would be reason for celebration. But considering the "victory" of such a horrible sort as yesterday's was, bad news like a huge spike in the unemployment rate would have better served Trump today because it would give them a different target to throw stones at. When the damage is done, the damage is done and nothing, either good or bad, matters anymore.
2
The full employment means nothing unless there is an accompanying narrowing of the income/wealth gap.
13
its widening
Thanks Obama.
The economy keeps chugging along, even with republicans doing everything in their power to dismantle it. ( 1\5th of it being health care )
The economy keeps chugging along, even with republicans doing everything in their power to dismantle it. ( 1\5th of it being health care )
10
Gee... I wonder why....because Hillary is NOT the Presiden, and it's "President Trump", along with the confidence he projects.
I thought these employment numbers from the government were fake, made up, cooked ?
1
Only fake and fixed if they are against Trump, but solid gold if for Trump.
I pray we don't see the Twitter-in-chief taking credit for a first quarter job's report: From January-March, he was far too busy Campaigning, handing out crowd-reports and eating Beautiful Cake.
10
Say a prayer for the hard working people, say a prayer for the salt of the earth. Cause they are gonna need it.
5
Didn't Trump say during the campaign that the unemployment rate was 42%?
So confusing. Please use the same base for comparison as Trump did while campaigning.
So confusing. Please use the same base for comparison as Trump did while campaigning.
Unemployment job reports are pure fiction.
They rely on a broken and flawed system of counting people that receive unemployment benefits and do not track real unemployment. It is basically a political tool of the elites so they can fool the public of how wonderful everything is going. The real unemployment numbers would be a national security risk to divulge to the public.
They rely on a broken and flawed system of counting people that receive unemployment benefits and do not track real unemployment. It is basically a political tool of the elites so they can fool the public of how wonderful everything is going. The real unemployment numbers would be a national security risk to divulge to the public.
3
Thank you President Trump. You are putting confidence back into America again!
3
The only thing I am confident about when it comes to Trump is that the rich will get richer.
2
"Employers keep complaining they can't find enough workers."
There's a market solution to this: pay more.
There's a market solution to this: pay more.
22
You can thank no drama Obama for most of it. Boring, slow but steady recovery eight yrs ago from the 2nd greatest eco. calamity in our history caused by the admitted war criminal Bush 2 with democratic help.
Want to kill it but have many yrs of booming times and then another great depression?
The answer is simple let the republicans with democratic help let wall street run crazy as a casino again like in 2008.
Learn from history or forever be condemned to repeat its' worst aspects.
Want to kill it but have many yrs of booming times and then another great depression?
The answer is simple let the republicans with democratic help let wall street run crazy as a casino again like in 2008.
Learn from history or forever be condemned to repeat its' worst aspects.
3
Thank you thank you President Obama. You are sorely missed!
8
Does this mean that Obama's two terms were more successful than the GOP wants to admit?
Does having near full employment mean that the jobs offered to people will start to pay better, that employers will begin to care about retaining and training employees? Does it mean that we will start to prepare for retraining people who lose their jobs due to technological advancements or that our attitudes towards the unemployed will continue to be punitive, shortsighted, and that we will throw people in all stages of their productive years aside like garbage? I say this as a person who has been unemployed at various periods during her working life and who encountered discrimination due to age, gender, experience, etc. At every point in my working life, including now, I have been forced to minimize years of experience, hide my gender if I can, work for less than I'm worth because employers don't want to pay, and told, even though I graduated with a degree in science, that I made the wrong choice of majors.
If Trump crows over this and gives no credit to Obama what will he do when the inevitable downturn occurs: blame Clinton?
Does having near full employment mean that the jobs offered to people will start to pay better, that employers will begin to care about retaining and training employees? Does it mean that we will start to prepare for retraining people who lose their jobs due to technological advancements or that our attitudes towards the unemployed will continue to be punitive, shortsighted, and that we will throw people in all stages of their productive years aside like garbage? I say this as a person who has been unemployed at various periods during her working life and who encountered discrimination due to age, gender, experience, etc. At every point in my working life, including now, I have been forced to minimize years of experience, hide my gender if I can, work for less than I'm worth because employers don't want to pay, and told, even though I graduated with a degree in science, that I made the wrong choice of majors.
If Trump crows over this and gives no credit to Obama what will he do when the inevitable downturn occurs: blame Clinton?
7
No, he will blame Obama for inheriting a mess.
1
So what does Trump say now about the "mess" that he inherited from Obama. He probably will say that the entire 4.5 unemployment rate is owed to him.
Trump is the greatest example of the rooster who crows in the morning and thinks that he is the one that makes the sun come out.
Trump is the greatest example of the rooster who crows in the morning and thinks that he is the one that makes the sun come out.
298
Trump is awesome - regardless the spin of the shrieking left.
Frank, losing the election is still killing you? Call up Rosie and tell her that it's time to get out of the bed of misery, put one foot in front of the other and move forward. That would be a good idea for you also. 2018 is just around the corner and the democrats are going to lose even more seats in Congress. Construct your safe place while you still can. Trump is going to tax safe places.
Trump is awesome all right: in his bluster, his quick Twitter finger, his amazement that being president of a large country with many different factions is anything but easy, and his ignorance of how the government he is supposed to be running actually works.
3
"Though the official jobless rate dipped even lower, the labor participation rate fell slightly to 62.9 percent last month from 63 percent"
What other number matters if you're interested in the question of "to what extent are Americans working?"
(For comparison, note that Singapore, whose population is older, has a labor force participation rate of roughly 68 percent and that number has been growing while the U.S. number shrinks.)
What other number matters if you're interested in the question of "to what extent are Americans working?"
(For comparison, note that Singapore, whose population is older, has a labor force participation rate of roughly 68 percent and that number has been growing while the U.S. number shrinks.)
4
This labor participation rate... does it include old people and children? I'm 65, retired, and I sure as heck don't want to have to "participate" anymore.
So at what age in Singapore do people retire? 65? 70? 80? When do they begin to work? 18? 12?
I'm not sure that a high labor participation rate means anything other than people have to start work at a younger age and then are forced by economic circumstance to retire later in life and enjoy less the fruits of many years of labor. Now, if you specify that the labor participation rate only includes ages 21, basically after education and training, up until 62, when Social Security could first be collected, I might see that as realistic.
So at what age in Singapore do people retire? 65? 70? 80? When do they begin to work? 18? 12?
I'm not sure that a high labor participation rate means anything other than people have to start work at a younger age and then are forced by economic circumstance to retire later in life and enjoy less the fruits of many years of labor. Now, if you specify that the labor participation rate only includes ages 21, basically after education and training, up until 62, when Social Security could first be collected, I might see that as realistic.
5
Good point.
Labor force participation rate is defined by the BLS as including civilian Americans over the age of 16 (so it doesn't include children, but it does include older Americans). I think that the Singapore stats (if you check their government web site) might include citizens starting at age 15. So actually the real comparison might be 63 percent in the U.S. versus about 70 percent in Singapore.
Congratulations on your retirement! But the big statistical change in the U.S. is coming from "prime-age" workers dropping out. See the Obama Administration's June 2016 report "THE LONG-TERM DECLINE IN PRIME-AGE MALE LABOR FORCE PARTICIPATION" https://obamawhitehouse.archives.gov/sites/default/files/page/files/2016...
Congratulations on your retirement! But the big statistical change in the U.S. is coming from "prime-age" workers dropping out. See the Obama Administration's June 2016 report "THE LONG-TERM DECLINE IN PRIME-AGE MALE LABOR FORCE PARTICIPATION" https://obamawhitehouse.archives.gov/sites/default/files/page/files/2016...
1
After yet another good jobs month, how many more positions could be easily filled if getting one were as easy as getting a soda? Would you believe 16.6 million? See why, and what this morning’s data REALLY means, with the latest American Job Shortage Number (AJSN) report at http://worksnewage.blogspot.com/2017/05/latent-demand-for-jobs-most-from....
1
There is plenty of work available in this country, the problem is the populace isn't educated enough to attain these positions.
It is not the responsibility of the Ford Motor Company or any other company for that matter to build some outdated manufacturing plant in every town in the US and employ those who were either too lazy or lacked the motivation to do better because the government is always there with a check in their mailbox.
Boeing's CEO was interviewed on Charlie Rose about a month ago begging for people to go to their website and apply for the over 1,000 jobs currently available throughout the country.
Since "The Great Recession" I have changed jobs twice with significantly more salary each time, been promoted twice in my current one and am approaching a six-figure salary which is enough so my wife doesn't even have to work anymore.
I did not attend any elite college or come from a wealthy family (my father was a retired NYPD Detective) and i am doing quite well.
It is not the responsibility of the Ford Motor Company or any other company for that matter to build some outdated manufacturing plant in every town in the US and employ those who were either too lazy or lacked the motivation to do better because the government is always there with a check in their mailbox.
Boeing's CEO was interviewed on Charlie Rose about a month ago begging for people to go to their website and apply for the over 1,000 jobs currently available throughout the country.
Since "The Great Recession" I have changed jobs twice with significantly more salary each time, been promoted twice in my current one and am approaching a six-figure salary which is enough so my wife doesn't even have to work anymore.
I did not attend any elite college or come from a wealthy family (my father was a retired NYPD Detective) and i am doing quite well.
7
reply to skater242: It is simplistic thinking like yours that seems to fill other online comment venues. First off; jobs are not equally disbursed throughout the nation. Secondly, your designation has you listed in New Jersey which is vastly different than-say, Rural Mississippi or even parts of rural California with an Ag (Farm Labor intensive economy). You tend to proudly "brag" about having the good fortune of changing jobs with "significant" salaries. You are indeed fortunate but millions do not have access to that fortune by virtue of their geography: I am rather perplexed why you commented- except to brag.
Boeing should have kept their manufacturing in the area they spent a century building a skilled labor force. Instead they have been shifting production and jobs to other locations. Why? To avoid unionized labor. Which happens to be the skilled labor.
And it's not the responsibility to pay the health insurance for pre-existing conditions. Can you have your cake and eat it too?
It's all seasonal.
Yawn
Yawn
3
If so... why does the attached graph not indicate a seasonal pattern to job growth?
The unemployment number is adjusted to take seasonal changes into account.
Summer is coming... makes plenty of sense there would be a hiring boom especially in more northern states as jobs like landscaping come back into the fold and people start getting off their unemployment for being laid off during the winter months.
9
Thank-you President Obama.
The chaos of the current administration will soon reverse the momentum or else create a crash situation that will take the economy down. The table is being set with all the great "trade policies" and tax breaks to the 1 per cent, let's put the "great" back into the inevitable depression we all know is coming
The chaos of the current administration will soon reverse the momentum or else create a crash situation that will take the economy down. The table is being set with all the great "trade policies" and tax breaks to the 1 per cent, let's put the "great" back into the inevitable depression we all know is coming
3
Trump bragging yet about the statistics he so said were fake and manipulated?
16
Use to project future economics of US economy, the difference between Republican and Democrat governing.
PoliticsThatWork Change in Unemployment Rate by Party of President- Since 1945
Each party has held the presidency for the same number of years since 1945. During those years, the unemployment rate has risen 11.8% under Republican presidents and has fallen 7.2% under Democratic presidents. Unemployment has fallen during the overwhelming majority of Democratic years since 1949. Unemployment rose steadily under Republicans up until 1982, then fell during the remaining Reagan years, and then rose again under both Bush Presidents.
PoliticsThatWork Dow Jones Performance by the Party of the President
During the most recent 15 years during which Republicans have held the presidency, the value of the Dow has increased by 42%. During the Democratic presidencies, it has increased by 609%- 14.5 times faster. The average growth in the value of the Dow under Democrats during this period has been 14.75% and under Republicans it has been 5.11%.
PoliticsThatWork Change in Disposable Income Since 1930 by the Party of the President
In the 44 years that we have had Democratic presidents since 1930, the real per-capita disposable income has increased 271%. During the 40 years during which we have had Republican presidents, it has increased 44%. On average, it has increased 3.1% (after adjusting for inflation) under Democratic presidents and 1% under Republican presidents.
PoliticsThatWork Change in Unemployment Rate by Party of President- Since 1945
Each party has held the presidency for the same number of years since 1945. During those years, the unemployment rate has risen 11.8% under Republican presidents and has fallen 7.2% under Democratic presidents. Unemployment has fallen during the overwhelming majority of Democratic years since 1949. Unemployment rose steadily under Republicans up until 1982, then fell during the remaining Reagan years, and then rose again under both Bush Presidents.
PoliticsThatWork Dow Jones Performance by the Party of the President
During the most recent 15 years during which Republicans have held the presidency, the value of the Dow has increased by 42%. During the Democratic presidencies, it has increased by 609%- 14.5 times faster. The average growth in the value of the Dow under Democrats during this period has been 14.75% and under Republicans it has been 5.11%.
PoliticsThatWork Change in Disposable Income Since 1930 by the Party of the President
In the 44 years that we have had Democratic presidents since 1930, the real per-capita disposable income has increased 271%. During the 40 years during which we have had Republican presidents, it has increased 44%. On average, it has increased 3.1% (after adjusting for inflation) under Democratic presidents and 1% under Republican presidents.
6
Why do we still need "stimulus" 9 years after the crisis? It's time for the Federal reserve to raise rates more aggressively and taper their reinvestment program. They own $4.5 TRILLION Mortgage backed securities and treasuries. Why? What is your plan Dr. Yellen if the economy takes a nose-dive again and rates are already near zero and you have already exploded your balance sheet to almost $5 trillion? What's your plan? By the way, the stock market is now up for the 6th year in a row. Gradually deflate the bubble Janet or the market will do it for you...suddenly and violently.
5
Thank you President Trump!
3
You actually think that in 106 days that Trump was able to achieve this? If so, I have some cheap ocean side property in Arizona you might want to look at.
4
He didn't create any jobs. Your thanks are quite misplaced.
Really? So what exactly did Trump do in these last four months to merit your gratitude toward him? Consider for a moment, if your able, that it was Trump's predecessor's policies put in place some years back that has lifted the economy with each passing month since. Do you congratulate trust fund babies for their "hard earned" success as well?
3
The good news is the economy is improving. The bad news is that Trump, despite having no hand in it, will ultimately take credit for it, as he's taken credit for a great many other things he had no part in planning.
26
Al, You didn't get the memo sent to all "progressives:" The increase in hiring is to be credited to Obama; the low first quarter GDP output is to be blamed on Trump. Pass it on. Keep pushing the narrative.
Donald Trump will take credit for this good news about employment. He denied being responsible for the bad employment news for last month. President Trump will never admit to being responsible for something bad.
25
I see many of my contemporaries (between fifty and fifty five) in a similar boat - Laid off, or off-shored during the recession, and unable to find full time work. Age discrimination is difficult to prove, despite most people acknowledging that it exists. Employers state that they cannot find suitable candidates, but there are many such as myself who are either un or underemployed who would like to work that they will not consider. Hiring an older worker can get you someone with better life skills, and does not necessarily mean you will pay more for that person. Someone with previous, though not current, technical experience can be trained faster than someone who has not worked in the field. My key message to HR folks and hiring managers, is: if you want a qualified worker, don't be put off by someone's age. If you a younger manager concerned about hiring an older worker, don't be. Those older workers can provide you with life experience and a sounding board, and most are not trying to take your job, but will be interested in your success!
176
Very true. The H1B and other offshore programs should be completely eliminated.
Not only because older workers can do the jobs much better, but because younger workers can also be trained. It should be noted that these retraining programs were popular and successful in the 80s
An older retrained IT worker is an amazing asset for a company
An college graduate is great for their management-trainee programs
A disadvantaged kid is a hidden gem for companies to train and mentor
An offshore IT person is a liability, who can't communicate, has no interest in your company, will make their mess and leave and is very possibly stealing your data and hacking your systems
Not only because older workers can do the jobs much better, but because younger workers can also be trained. It should be noted that these retraining programs were popular and successful in the 80s
An older retrained IT worker is an amazing asset for a company
An college graduate is great for their management-trainee programs
A disadvantaged kid is a hidden gem for companies to train and mentor
An offshore IT person is a liability, who can't communicate, has no interest in your company, will make their mess and leave and is very possibly stealing your data and hacking your systems
I am 53, and after nearly 20 years in IT at a Telephone company I was outsourced to a consulting company and then laid off.
There is a local ISP that I am well-qualified for, except they see me as over-qualified for certain jobs, and under-qualified for others. The latter jobs I could easily get up to speed quickly based on my experience, but they prefer certificates to experience, and I can't help but wonder if my age is a factor (seems everyone at the company is under 50 years old).
Thankfully, I have a bit of passive investment income to keep me afloat, but without that I'd be up a creek.
At the same time I see county employees retire from their jobs at 55, start drawing more in retirement than I made in IT, and they then go to work at another county job because they know the right people.
There is a local ISP that I am well-qualified for, except they see me as over-qualified for certain jobs, and under-qualified for others. The latter jobs I could easily get up to speed quickly based on my experience, but they prefer certificates to experience, and I can't help but wonder if my age is a factor (seems everyone at the company is under 50 years old).
Thankfully, I have a bit of passive investment income to keep me afloat, but without that I'd be up a creek.
At the same time I see county employees retire from their jobs at 55, start drawing more in retirement than I made in IT, and they then go to work at another county job because they know the right people.
5
They're not going to hire you (or me, 62, out of work 2-1/2 years, with an engineering degree and an MBA, a full-blown MBA, not an "executive MBA") because, as the personnel department will tell you, you "don't fit their profile." Age discrimination is illegal, yet pervasive, and with this mealy-mouthed utterance, corporations everywhere can get away with breaking the law. What good is a law if you cannot enforce it?
4
More faux news that undoubtedly will be credited to Obama. As with anything stats can be skewed any way you want them to get the desired effect. These numbers do not take into account those who have given up the job search. I know several people who have been unemployed fro going on 3+ years. And another thing.....The President DOES NOT create jobs.......never did and never will.
5
Maybe so.... but guess which President will immediately take huge credit for the HUGE improvement in the economy?
1
The improvement is not huge. Most people suffer in this country.
1
Thanks, Obama!
2
Sounds crazy - but there had been periodic rumors that some employers purposefully did not hire/minimized hiring during President Obama's tenure in order to sabotage President Obama's administration.
2
So, fewer people unemployed. Do they earn the same as before the lay-off? Chances are they earning a whole lot less than they used to.
3
Of course, this assumes Trump's people are not now fiddling with the numbers, given the country's tepid first quarter GDP performance and last month's weak job growth. Every "statistic" from the government is now suspect.
That's the power of President Trump! #MAGA
4
Good news, of course. One wonders what kind of scheduling, benefits and salaries we're talking, though. Doubtless they cannot match the heights the middle class reached under the lasting influence of The New Deal's stimulus and union muscle's work, ensuring labor is not undervalued and/or outright stolen.
Ironic that many of these jobs come in the health sector, which our friends the GOP are busy eviscerating.
Isn't it.
Ironic that many of these jobs come in the health sector, which our friends the GOP are busy eviscerating.
Isn't it.
5
President Obama's 8 years of hard work is paying off. Too bad YKW is going to claim he did it in 4 months.
5
Thank you President Obama.
3
Fake news! ... Benghazi!
Andrew N. Liveris, the CEO of Dow Chemical, who now leads President Trump’s Manufacturing Jobs Initiative, argued that the U.S. needs more skilled trades people, and not more college graduates (who we know earn more money throughout their careers). But I wonder how much Mr. Liveris thinks skilled tradespeople, who he acknowledges are necessary to build "a strong and sustainable economy" should be paid vis-a-vis his own salary as the head of a Fortune 500 company. Does Mr. Liveris work aggressively to ensure that his employees' salaries rise slowly, while pressing for large increases for his own compensation package? If so, does he argue that these employees' lower skills merit low salaries and low salary increases?
6
Despite the last couple of years of good economic indicators, I don't think I will ever shake off the trauma of the Great Recession, much like our Depression-era grandparents and great-grandparents never completely overcame their trauma.
Much of the uneasiness stems from the fact that while unemployment is low, these are not great jobs. Predictable hours, job security, decent pay and benefits are scarce - and this trend has been in the making for decades, long before the recession.
One example: our wonderful local teachers have either been let go, or haven't had a raise in 5 years; in fact, our governor has gutted the education budget even further this year. We parents try to make up for it with endless donations and fundraisers, but there is only so much we can do. Teaching the next generation of leaders used to be a great profession with good pay and benefits.
Much of the uneasiness stems from the fact that while unemployment is low, these are not great jobs. Predictable hours, job security, decent pay and benefits are scarce - and this trend has been in the making for decades, long before the recession.
One example: our wonderful local teachers have either been let go, or haven't had a raise in 5 years; in fact, our governor has gutted the education budget even further this year. We parents try to make up for it with endless donations and fundraisers, but there is only so much we can do. Teaching the next generation of leaders used to be a great profession with good pay and benefits.
9
Well, you know who will take credit for this. It is amazing what can be done in 100 or so days when you are really the most fabulous best looking and most popular president of all time. That, will be the substance of a Twitter presently.
10
Oh Happy Day! The Donald will be holding rallies all over convincing his red hats he did it all! In less than the first 100 days! He CREATED JOBS!
Ah, more cheers, more signs, more taxpayer money going for Air Force 1, security, limos, fast food for The Donald, and all those rally expenses.
What gains he has made!
Ah, more cheers, more signs, more taxpayer money going for Air Force 1, security, limos, fast food for The Donald, and all those rally expenses.
What gains he has made!
3
Understanding the speed of economic factors, all the credit goes to the Obama administration.
41
April jobs growth is good news. But just watch - Trump will claim he created the job growth by repealing Obamacare!
4
Looking at graph, it's the same trend as the Obama administration -thanks for the recovery Obama though I am sure the big winded Trump will take full credit for everything you did. No doubt a biased white majority will be happy to give him credit for what you did as well but many of us (including many Caucasians like me) know the truth despite what Trump's propaganda machine might profess.
5
Getting tired of winning yet?
3
Looking at the chart, I see several higher bars before. Remember all during the Obama administration we heard and read about "anemic" job growth? But put a Republican in the White House and suddenly it's Happy Days Are Here Again. (As you may recall, any time the Dow went up a point, or a couple hundred jobs were added, under George Wonderful Bush, we quickly got "See? See? Our Great Leader has everything well in hand! Our economy is doing great! I think a lot of Bush-bashing America haters owe him an apology!")
And they call it a liberal-biased press.
And they call it a liberal-biased press.
1
The waves of homeless I walk by going to work every day, what is their excuse? none
2
This statistic is so massaged it is not really very meaningful. The labor participation rate is more informative. France has a higher labor participation rate than the US in the prime working years.
8
that is mostly due to the size of the French governement, which has a much higher share of GDP than in the US.
Of course, i agree think its a better model, but it's just to illustrate the systems are not the same.
Of course, i agree think its a better model, but it's just to illustrate the systems are not the same.
The employment numbers are officially recognized as being lagging indicators, not leading indicators. It's not a jumping off point!
2
So, you mean, despite these numbers, going forward the Republicans will ruin the economy.
We agree.
We agree.
1
This is a solid jobs report. We can say it was a Trump bump or just a carryover from the Obama years. But it’s neither, it’s a just one report, and one tool that helps us to better understand how things are going in a macro-economic environment. The weakness if any is the percentage of wage growth. Still sluggish. If wages start to increase at a faster clip then and only then will the economy get truly healthy again.
99
I would be interested in knowing whether there's ever been a pattern of consistent decline in unemployment like this coupled with stagnant or declining wages. This strikes me as an oddity, but I'm no economist. If indeed low and declining unemployment and stagnant or declining wages have never accompanied each other so persistently, wouldn't that point to institutional inequality? Have attitudes about the value of employees versus the value of top management hardened into a notion that the 1 percenters need to siphon off more and more wealth, and the peons only need to work harder and harder to try not to sink farther down?
For instance, I am grateful to have found a new job at age 59 and very happy at work. My position was added; I wasn't replacing someone who left. We're about the add another position. The department had shrunk during the recession to a point where personnel literally could not maintain the workflow, so people had to be added. However, we do not get annual cost of living raises, or do we get even small hourly raises periodically based on performance reviews. This is not the economics I was taught.
For instance, I am grateful to have found a new job at age 59 and very happy at work. My position was added; I wasn't replacing someone who left. We're about the add another position. The department had shrunk during the recession to a point where personnel literally could not maintain the workflow, so people had to be added. However, we do not get annual cost of living raises, or do we get even small hourly raises periodically based on performance reviews. This is not the economics I was taught.
C Wolfe,
From 1978 to 2014 CEO pay has grown 997% while the non-supervisory worker has increased 10.9%. Or CEO pay from $1.6 million to $16.1 million and the worker from $48k to $53k for the same period. Doesn’t answer your question about correlation between unemployment and wage growth, but does say quite a bit about where the money is going! And it isn’t to the worker bee.
From 1978 to 2014 CEO pay has grown 997% while the non-supervisory worker has increased 10.9%. Or CEO pay from $1.6 million to $16.1 million and the worker from $48k to $53k for the same period. Doesn’t answer your question about correlation between unemployment and wage growth, but does say quite a bit about where the money is going! And it isn’t to the worker bee.
1
Looks to me like the economy is continuing to recover without all those tax cuts the Republicans are so certain are essential to the continued welfare of the wealthy. America has managed in the past to recover from recessions without tax cuts, so why is the GOP so obsessed now withthem?
I believe that DT has already taken credit for this as he does for everything, after all, "I AM the President. Right? Right?"
6
Give credit where credit is due.. This won't be considered as fake news in the alex jones bubble!!
2
Is this from this article factual:
"Fewer than two-thirds of workers 25 to 54, considered the prime working years, have a college diploma"
If it is referring to at least a 4-year degree, it is more like slightly more than 1/3. Even including 2-year degrees it is less than 1/2. While 'workers' are a different group than 'population' here are US Census numbers:
https://www.census.gov/content/dam/Census/library/publications/2016/demo...
"Fewer than two-thirds of workers 25 to 54, considered the prime working years, have a college diploma"
If it is referring to at least a 4-year degree, it is more like slightly more than 1/3. Even including 2-year degrees it is less than 1/2. While 'workers' are a different group than 'population' here are US Census numbers:
https://www.census.gov/content/dam/Census/library/publications/2016/demo...
1
well this proves it, trumps a genius
all he did for the first 100 days was golf and stuff chocolate cake into his mouth at maraloco and the u/r went down
now if he sits there another 100 days all your infrastructure will be prefect
and then isis will surrender
10
Like any trend, looking at snapshots like this do not paint the best or most accurate picture of the economy. Just look at the NYT figure and note the variability across months. I find it hilarious the data is even plotted this way. If we want to see real trends, this needs to be extended over 6 or more months to even get a hint of whether the trend is stable or trending upward/downward.
Just keep that in mind when people use single month figures to claim absolute success or complete doom for the economy.
Just keep that in mind when people use single month figures to claim absolute success or complete doom for the economy.
Trump! Trump! Trump! USA! USA! USA!
2
This is still the Obama economy. Trump can't take credit for this.
Watch Trump's stupid decisions ruin the good job market.
I heard Tom Brokaw say if the health care bill goes through as is, the U.S. will have a 'checkerboard economy' determined by which states continue good coverage with Obama-type protections for low income people, the elderly & pre-existing conditions. Those protections will attract people there to work, raise families, start businesses. States with poor health care policies will suffer low-growth, population loss & depressed economies.
The backward states which defund Medicaid, won't cover low income people & dump poor & elderly people in unaffordable "high risk pools" will have economies that shrivel because no one will want to move there & those who can leave will go.
Nobody will want to take a job in, raise a family in or start a business in states with bad health care options. If those states if you lose your job, get sick or you lose your health care, it could destroy your health, hurt your family, drive you bankrupt.
Those who stay in 'bad health care' states will be people who don't have the money, education or options to leave.
It sounds like more people will move to 'liberal' states like Massachusetts, NY & California with large, robust economies & good healthcare policies.
Trump & the GOP are setting the states that choose bad health care regulations to suffer large economic losses. How stupid is that?
Watch Trump's stupid decisions ruin the good job market.
I heard Tom Brokaw say if the health care bill goes through as is, the U.S. will have a 'checkerboard economy' determined by which states continue good coverage with Obama-type protections for low income people, the elderly & pre-existing conditions. Those protections will attract people there to work, raise families, start businesses. States with poor health care policies will suffer low-growth, population loss & depressed economies.
The backward states which defund Medicaid, won't cover low income people & dump poor & elderly people in unaffordable "high risk pools" will have economies that shrivel because no one will want to move there & those who can leave will go.
Nobody will want to take a job in, raise a family in or start a business in states with bad health care options. If those states if you lose your job, get sick or you lose your health care, it could destroy your health, hurt your family, drive you bankrupt.
Those who stay in 'bad health care' states will be people who don't have the money, education or options to leave.
It sounds like more people will move to 'liberal' states like Massachusetts, NY & California with large, robust economies & good healthcare policies.
Trump & the GOP are setting the states that choose bad health care regulations to suffer large economic losses. How stupid is that?
5
It sounds like more people will move to 'liberal' states like Massachusetts, NY & California with large, robust economies & good healthcare policies.
==================
Actually, all of those states have been losing population for years. People are moving to states with good economies like Texas and Utah
==================
Actually, all of those states have been losing population for years. People are moving to states with good economies like Texas and Utah
1
Great that job growth is up. Now, if we could just do something about those jobs paying a living wage,.....
5
But we all know these numbers are garbage. Donald Trump told us that. The REAL unemployment numbers are closer to 20%...because Donald Trump told us that. Unless....yes...that's it...Trump and his policies of the past 100+ days have reduced the unemployment rate by nearly 16%! It's a MIRACLE!!
7
Thanks for admitting that SOMETHING positive has happened since Trump became president.
Since the same metrics are always used to determine the jobless rate, if it was fake 6, 10, 12 months ago is has to be fake now. Right?
9
I suppose the very unhinged Mr. Trump will be taking credit for this as well. His entire "lying" 100+ days in office and his complete disdain for the majority of Americans (who didn't vote for him) makes it very hard to celebrate any good news because he will only manipulate the true facts and all the sheep will go along. It's just not what I always believed America was about, but I'm coming to the conclusion that I was wrong and sadly more than a little naive.
4
Most of this country has no money. Perhaps 75%. With that said, I am not sure what jobs are being created but most people I know are doing less and less well with less benefits. As George Carlin once said, "Rule Number 1, I never trust anything the government tells me." As such, I never trust these jobs numbers. NEVER.
4
thanks Obama
5
That's great. We're going to need money to afford to take care of our bodies.
3
This is amazing. In less than a year, the economy went from the worst shape it has ever been in, with 25 to 40% unemployment - worse than during the great depression - to nearly full employment. How could this come to pass? Well, my friends, don't be fooled. Most jobs are held by the illegals, who are streaming up over the border faster than ever. And whose fault is this? Hillary...
1
Thank you, President Obama.
3
"Jason Furman, the chief economic adviser during the Obama administration, said: “The momentum in the job market is really impressive. I’m frankly surprised that this late into an expansion the economy is still adding jobs well above the steady-state pace.”
Furman is crediting the momentum from the Obama years for the good job report. But this is clearly a transition period between administrations, and either party taking credit is acting snotty.
Furman is crediting the momentum from the Obama years for the good job report. But this is clearly a transition period between administrations, and either party taking credit is acting snotty.
I suppose Trump will take credit.
3
NOTHING to do with Trump!!! This is all about the last eight years of the Obama economic policies.
6
yes, awfully close to full employment. More jobs in the hospitality industry. That's what we want to build, an economy like they have in Cabo San Lucas.
8
Fake news. Phony numbers. All rigged. The real unemployment number is near 40 percent. No? The numbers are real? I guess something has changed.
11
Thank you, President OBAMA!
16
Some people never get it. Obama is out collecting $400,000 for 1/2 hour speeches from Wall Street so we know he is employed.
6
During the 70's and 80's it was common for the number of jobs created to be above 200,000 and often above 300,000. Now, with a working population that has grown from 135 million in 1977 to 205 million today, the NY Times claims 211,000 is impressive.
Looks like grade inflation to me.
Looks like grade inflation to me.
11
This is all Barack Hussein Obama's fault. Even though Mr. Obama did not have the political socioeconomic business wisdom, insight and merit to be born white German Scottish American in New York City to inherit a tiny closely-held family local multimillion dollar real estate empire.
17
Thank you, President Obama.
148
Thanks, President Obama.
221
I can't wait to hear the empty suit Trump take credit for everyone else's hard work over ten years to create jobs.
95
Of course the strutting buffoon will take full credit. And I'm certain it will make me more than just "mildly nauseous".
1
Too bad the jobs are part of the new gig economy...no security, no health benefits, no pension, poor pay...the new normal is near full employment with stagnant wages and disappearing benefits. Not your daddy's economy for sure. And with health insurance rates soon to skyrocket for tens of millions, you will essentially be working for the health-insurance industrial complex while you and your kids are starved out a middle-class existence. Not to mention student loans that are a yoke on the neck of the younger generation for decades to come. There was near-full "employment" during the feudal era, too but at least you could get a good leeching for your illness without going bankrupt.
67
when the current bubble bursts all those jobs will be washed away like a tsunami hit them
3
And now get ready for the Nero-in-Chief, sitting in an office too good for his ilk, to take credit for this. But lest we forget...it was under President Obama that for 8 years we experienced not only consistent job growth but also a steady decline in our unemployment rate. And, I hope I am wrong, but if the Senate repeals Obamacare, we'll watch that unemployment rate grow again. And it will consist of the very people we need on a daily basis...health care providers in hospitals and clinics.
66
Thank you President Obama.
268
Thanks Obama!!!
181
I'm sorry did I miss something? What jobs did he personally create?
3
Seriously? Did you just wake up from a long slumber?
4
Thank you M. Obama for bringing back the economy to today’s level.
183
Got to be fake news nothing is supposed to be good under President Trump.
1
I'm sure Mr. Trump will consider this real news while he "falsely" takes credit for it. Mr. Trump is the real "fake news" -- absolutely nothing genuine about him, so you're half right -- it is extremely likely that nothing good will happen for the people he serves while he's in office, but we can be sure he'll lie and say everything that goes against him is fake news.
7
PER US CENSUS BUREAU: Only 1/3 Americans age 25-54 have a (four year) college degree...and only 45% have an Associate (two year) degree and above..... it is not close to 2/3 as stated in the article: "Fewer than two-thirds of workers 25 to 54, considered the prime working years, have a college diploma."
https://www.census.gov/content/dam/Census/library/publications/2016/demo...
Otherwise GREAT article.
https://www.census.gov/content/dam/Census/library/publications/2016/demo...
Otherwise GREAT article.
4
“…The broadest measure of unemployment, which includes people who are working part time or have dropped out of the labor market, was down sharply, to 8.6 percent, from 8.9 percent…”
“…Though the official jobless rate dipped even lower, the labor participation rate fell slightly to 62.9 percent last month from 63 percent, a signal that workers who had been sidelined are not being drawn back into the labor market.
‘This gets to be the real issue,’ Ms. Swonk said. ’As good as this report is, it points to how hard it is to bring in those marginalized workers. With skills erosion, people in long-term unemployment have gotten into a vicious cycle. An incoming tide does not lift all boats.’…”
___
It’s interesting that for the last 8-years ONLY the unemployment numbers were discussed and touted, including part-time workers as employed NOT both the unemployment (including part-time workers) numbers. and labor participation rates.
Hm.
“…Though the official jobless rate dipped even lower, the labor participation rate fell slightly to 62.9 percent last month from 63 percent, a signal that workers who had been sidelined are not being drawn back into the labor market.
‘This gets to be the real issue,’ Ms. Swonk said. ’As good as this report is, it points to how hard it is to bring in those marginalized workers. With skills erosion, people in long-term unemployment have gotten into a vicious cycle. An incoming tide does not lift all boats.’…”
___
It’s interesting that for the last 8-years ONLY the unemployment numbers were discussed and touted, including part-time workers as employed NOT both the unemployment (including part-time workers) numbers. and labor participation rates.
Hm.
6
Lowest labor participation rate since 1979.
Under Obama, the number of people on food stamps increased from 33.4 million to 44.2 million
https://www.fns.usda.gov/sites/default/files/pd/SNAPsummary.pdf
Under Obama, the poverty rate has increased from 13.2% to 14,8%
http://www.cleveland.com/rnc-2016/index.ssf/2016/07/rnc_2016_fact-check....
Under Obama, the number of people on food stamps increased from 33.4 million to 44.2 million
https://www.fns.usda.gov/sites/default/files/pd/SNAPsummary.pdf
Under Obama, the poverty rate has increased from 13.2% to 14,8%
http://www.cleveland.com/rnc-2016/index.ssf/2016/07/rnc_2016_fact-check....
2
Thank you President Obama.
392
thanks bho
Yeah, sure - we're doing great. If you read beyond the headline, you'd know that the U3 rate (broadest measure of unemployment is 8.6%, and that our laborforce participation rate is 60 - something percent. And then there's this...
http://www.cbsnews.com/news/most-americans-cant-afford-a-500-emergency-e...
http://www.cbsnews.com/news/most-americans-cant-afford-a-500-emergency-e...
1
Trump is winning! The business community has begun to hire again. Finally a president that gets it! No longer will we listen to the "you didn't build that" president. Bigly!
More bogus information;feel good facts that ignore the vast numbers of individuals still unable to find work: those who gave up hope of ever finding meaningful, well-paid employment after an interminably long job search; those who have tried to to reenter the job market, but been denied positions due to age;and the increasing impersonality of the employment application process itself, with its winnowing, algorrhythmic (sp?) elimination tools that defeat people before they even get started. Nothing new here.
26
Will the litany of disasters perpetrated by the Trump administration never end? This latest--oh, wait. Well, this is clearly a success of the Obama administration, and the economy will undoubtedly collapse next month.
Don't believe these numbers because they don't count people working in the gig economy of which there are tens of millions. These are 1099 self-employed people who don't work every day and are difficult to track. The real number of unemployed on any given day is way, way higher than 4.4%.
5
I think your statements are self-contradictory.
1
They are going to need to give more work visas to foreign workers. They could start with the ones already in the country.
4
For NYT reader its so hard to tell.
Is this good news or bad news.
Is this good news or bad news.
1
Nice to see the momentum of the previous administration's efforts have carried forward, but gosh darn this "Obama economy!" People are "really hurting" out there. The media and Dems let Trump and Republicans get away with murder in the context of discussions about the economy during the presidential campaign.
83
I'm still hurting, thanks for asking.
6
Thanks Obama. In addition to all the pain & suffering the GOP's " health care" bill will inflict if passed, it could have a negative effect on employment too. I have heard this bill described as the largest redistribution of wealth ever. Taking from the old, sick, & disabled to give the wealthiest huge tax cuts will not lead to more good jobs. Trump is destructive in everything he does, & the majority of republican lawmakers are willing to cover for him. How long before the next crash?
17
The positive after-effects of President Obama's strong economic record continue to buoy the Trump Administration.
Many of America's jobs created during the last eight years since the Bush-Cheney Depression are a result of the job-creating ACA, a direct contradiction of the 'job-killing Obamacare' lie peddled by right-wing propagandists and trickle-down terrorists.
But now that the Grand Old Psychopaths are getting ready to reopen Republican Death Panels nationwide, get ready for healthcare-related employment to decrease as Grand Old Poison public policy starts to take effect.
When you decrease healthcare funding, you decrease jobs.
When you give millionaires and billionaires tax cuts, they pocket the Christmas gift and the real economy suffers.
It will take more time for Trump to completely trash the American economy, but he has the Republican 'talent' to do it.
When the GOP removes the healthcare stimulus from the economy, continues to frighten away foreigners, tourists, and visiting students with t-Rump's Make America Hate Again campaign and then adds reckless deregulation and 'tax reform' (a.k.a. trickle-down tax-cut cyanide) to the American economy, it's only a matter of time before our Know Nothing Nincompoop Caucus and so-called President completely destroy the economy in a 2008 Republican Redux.
Republican Administrations have a proven catastrophic record of wrecking the American economy.
http://fortune.com/2014/07/29/economic-growth-democratic-presidents/
Many of America's jobs created during the last eight years since the Bush-Cheney Depression are a result of the job-creating ACA, a direct contradiction of the 'job-killing Obamacare' lie peddled by right-wing propagandists and trickle-down terrorists.
But now that the Grand Old Psychopaths are getting ready to reopen Republican Death Panels nationwide, get ready for healthcare-related employment to decrease as Grand Old Poison public policy starts to take effect.
When you decrease healthcare funding, you decrease jobs.
When you give millionaires and billionaires tax cuts, they pocket the Christmas gift and the real economy suffers.
It will take more time for Trump to completely trash the American economy, but he has the Republican 'talent' to do it.
When the GOP removes the healthcare stimulus from the economy, continues to frighten away foreigners, tourists, and visiting students with t-Rump's Make America Hate Again campaign and then adds reckless deregulation and 'tax reform' (a.k.a. trickle-down tax-cut cyanide) to the American economy, it's only a matter of time before our Know Nothing Nincompoop Caucus and so-called President completely destroy the economy in a 2008 Republican Redux.
Republican Administrations have a proven catastrophic record of wrecking the American economy.
http://fortune.com/2014/07/29/economic-growth-democratic-presidents/
218
On the bright side, it will help millionaires and billionaires.
Unfortunately, it won't make them happy.
Unfortunately, it won't make them happy.
5
That's funny. Last week, you had the top comment on a story titled "G.D.P. Report Shows U.S. Economy Off to Slow Start in 2017", in which you blamed Trump for the slow percentage of growth.
Which is it?
Which is it?
5
"When you give millionaires and billionaires tax cuts, they pocket the Christmas gift and the real economy suffers". Unfortunately, they will not only pocket the tax cut, but also spent it on influencing next election campaign(s).
The average hourly wage year of year is down 2.5%. Time to unionize. Wages never rise on their own even if unemployment is low, ad evidenced by this article.
26
The anecdotal evidence I'm seeing is savvy businesses poaching talent from competitors. The result is more negotiating power in the hands of employees and ultimately higher wages from either current or new employers. Employers not willing to pay more for top talent are being decimated of their employees.
four months have been noteworthy for the changing of the tide in that auto sales have hit a lull.
General Motors alone has over one million unsold vehicles clogging its dealers'
lots.
Given the incredibly long supply chain in the US auto industry, this slowdown will hit virtually every state unless it reverses, with employees being laid off to reduce the sudden consumer reluctance to purchase new cars.
In addition to this reluctance to purchase, lenders are reacting to soured auto loans to finance past auto purchases. Recovery rates on repossessed
vehicles are far below historical patterns, prompting lender to substantially tighten credit standards on car loans.
http://wolfstreet.com/2017/02/16/seriously-delinquent-auto-loans-subprime/