Unemployment Rate Drops to 3.6%

a reply to: mikell

That has been true for years. As a millwork carpenter and cabinet installer I made a fortune because nobody does it. If you are willing to move you are guaranteed a job.

But supply and demand in the trades doesnt have to do with trump. Canada also has the problem. People just thought college was the only way and created a supply problem.

Texas and California greatly benefitted from illegal labor to fill the void but they still have great jobs for skilled trades.

It's a shame that most of the jobs are service orientated for the unskilled wage slaves. All the high tech jobs are going to the Asians brought in because they have the training. And heavy industry hasn't materialized like trump promised.

Even Harley_Davidson moved off shore. What's that tell you?



fortune.com...

originally posted by: Fools

originally posted by: butcherguy
Source; NPR

U.S. employers added a better-than-expected 263,000 jobs in April, as the nearly decade-old economic expansion shows no signs of slowing. And the unemployment rate dropped to 3.6 % — the lowest in nearly 50 years.

The US unemployment rate is the lowest it has been in 49 years.

Remember when Obama asked what Trump was going to do about the economy?.... Wave a magic wand?

I'm liking it.

Waiting for the "nope, its from Obama policies" from our DNC secret Santa's.

Almost like some sort of trend isn't it?



Nah, this graph is a lie.

originally posted by: AScrubWhoDied

originally posted by: Fools

originally posted by: butcherguy
Source; NPR

U.S. employers added a better-than-expected 263,000 jobs in April, as the nearly decade-old economic expansion shows no signs of slowing. And the unemployment rate dropped to 3.6 % — the lowest in nearly 50 years.

The US unemployment rate is the lowest it has been in 49 years.

Remember when Obama asked what Trump was going to do about the economy?.... Wave a magic wand?

I'm liking it.

Waiting for the "nope, its from Obama policies" from our DNC secret Santa's.

Almost like some sort of trend isn't it?

Nah, this graph is a lie.

So as long as we keep pumping in credit and bond buying programs we are good.

a reply to: luthier

Nah we aint good but it feels good to pretend we are. I remember once upon a time on this very site it was a general consensus that these numbers are absolute BS. I don't know what happened.

originally posted by: AScrubWhoDied
a reply to: luthier

Nah we aint good but it feels good to pretend we are. I remember once upon a time on this very site it was a general consensus that these numbers are absolute BS. I don't know what happened.

The team flipped so now it's cool. Like calling for QE in tweets and loosening regulations on loan programs. All cool again because the right team is doing it.

I gotta call BS too. Not cuz of Trump....but because of facts. 80% of Americans dont have 500 bucks in the bank. Millions of peeps are underemployed because they have crap degrees. Lots of parents/grandparents defaulting on loans used to send their kids/grandkids to school. Food bank usage way up.

I mean...whats the participation rate now? Not that long ago it was over 50%. What KIND of jobs were added? Uber drivers? Minimum wage retail?

originally posted by: LordAhriman
What did Trump do, exactly? A lot of this has to do with the high cost of living forcing retirees to go back to work, or former stay at home spouses no longer being able to do so.

Retirees and stay at home spouses, people who normally are not looking for work, are not part of the baseline calculation. Therefore as they are "forced" to reenter the work force because of high cost of living they would not cause the calculation to go down. In fact until a new equilibrium is reached they would put upward pressure on the calculation as they displaced some people who are part of the calculation.

For the calculation to go down people who have been in the work force and have prolonged activity trying to find work accutualy find it.

originally posted by: luthier
a reply to: butcherguy

I am hoping to debate someone on these fake numbers that obama loved to use. When he took 8 percent unemployment down to 4.2.

Here is reality. Our debt is larger than the GDP that is beyond socialist leaning countries like the UK.

Personal consumer debt reaches historic levels nearly every month.

Car loan defaults record high.

Record number of Americans with no savings.

So this is literally classic cooking the books bubble economy stuff.

This is backwards socialism. To give the government power to create credit and decide its rates is giving over complete control of the monetary system from the market. Who gets to carry debt is another force of government power.

No thanks. Let's talk when the report says consumer debt is an all time low and the economy is booming. The government has reached a surplus and the debt was slightly lower.

Debt is your personal responsibility. Don't over expend your resources and you will get ahead.

a reply to: butcherguy

I will readily admit that I dont trust any numbers coming from the government.
But
I work in the employment industry and there are loads of companies hiring right now.
Much better than any time during Obama's years.

originally posted by: AScrubWhoDied
a reply to: luthier

Nah we aint good but it feels good to pretend we are. I remember once upon a time on this very site it was a general consensus that these numbers are absolute BS. I don't know what happened.

The number is BS; it neglects to count people who are not actively looking for work, but should be, because they have given up.

However from a relativistic stand point if the calculation is used consistently it can still be used as a trend gadge.

originally posted by: theatreboy

originally posted by: luthier
a reply to: butcherguy

I am hoping to debate someone on these fake numbers that obama loved to use. When he took 8 percent unemployment down to 4.2.

Here is reality. Our debt is larger than the GDP that is beyond socialist leaning countries like the UK.

Personal consumer debt reaches historic levels nearly every month.

Car loan defaults record high.

Record number of Americans with no savings.

So this is literally classic cooking the books bubble economy stuff.

This is backwards socialism. To give the government power to create credit and decide its rates is giving over complete control of the monetary system from the market. Who gets to carry debt is another force of government power.

No thanks. Let's talk when the report says consumer debt is an all time low and the economy is booming. The government has reached a surplus and the debt was slightly lower.

Debt is your personal responsibility. Don't over expend your resources and you will get ahead.

Ok. But then there is no job growth in this type of economy.

I guess you dont understand the government injecting money, the national debt, and consumer debt in relationship to the gdp and jobs report.

a reply to: AScrubWhoDied

Check out the spread between the U3 and the U6 rates.
U6 unemployment rate was lower in 2000 at 6.9% with U3 higher at 4%.
Probably reflects the aging population so 3.6% might be sustainable for a few more months.
Unemployment peaks about 2 or 3 years after the lows have been reached at the bottom of the next recession.
The Fed probably could make a soft landing, but those peaks and valleys help stimulate the economy.


www.macrotrends.net...

Yes.

We are in the rat race. It's not ideal but for the time being it puts food on the table.

Not happy? Find a higher paying job...

a reply to: DanDanDat

Or the younger workforce never joins the equation and dont effect unemployment numbers at all.

a reply to: luthier

If anything, the youth contribute massively to the employment figures.

originally posted by: LordAhriman
What did Trump do, exactly? A lot of this has to do with the high cost of living forcing retirees to go back to work, or former stay at home spouses no longer being able to do so.

You just made it even more amazing. Retirees are not counted as part of the unemployed. So if we have so many jobs retirees are coming back to work taking jobs and the unemployment rate is still that low, that would need a magic wand.

originally posted by: luthier
a reply to: DanDanDat

Or the younger workforce never joins the equation and dont effect unemployment numbers at all.

I'm not sure when students that graduate school are added to the unemployment roles.

But if the rate is dropping (even if it's not the best indicator) it would mean that it's a better time for them to enter the work force than has been for the last decade and a half.

a reply to: olaru12

It has nothing to do with training, it has to do with Democrats refusing to fix the immigration system. My friend had a job at IBM, after the company he worked for was bought out by IBM. Very quickly everyone was replaced by Indians making less money. They kept piling more and more work on my friend until he quit, then told him to train his Indian replacement since he was literally the only person in the world who understood a particular service IBM acquired from his former company. He refused.

They had fired everyone else who understood it, and years later he was the only person who had kept up with it and the updates.

a reply to: DanDanDat

The employment rate is the highest it's been since 2009 after the Democrats destroyed the economy. The only time it has been higher than it is now has been the 90s.
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