Jobs Report GREAT NEWS (unless you're a republican)

[piasabird]

First of all, what were these jobs? were they all temporary summer jobs? We have summer hires every year along with summer internships for college students.

If this were a real improvement then revenue in the form of taxes being collected by the IRS should be increasing. Also according to the Federal Reserve, if this was an improvement in employment, they should be increasing the interest for the prime lending rates. I dont see this happening any time soon. I dont even see the government being able to come up with a balanced budget. So all of this is just smoke and mirrors.

If there were 3 consecutive months of improvement that would be easy to determine some kind of trend.

Keep in mind that when Bush left office Obama had an economy on the decline. Naturally after getting the banks to work again and getting credit working again, there has to be an increase from the low point of a crash (We always hope). The question is after the recovery, are we really improving from the position the economy was in before the stock and banking crash that occurred around 2008? If the economy had really improved we should have an interest rate of about 4.0%.

Good news but naturally bad news from republicans.
I swear, jobs and wage could rise 200% under Obama and because of his policies, and republicans would still gripe, "Well, people with the last name of Rumplestiltskin were left out of the growth, so THERE!"
Really... when have republicans ever given this president one pat on the back or credit for one single positive achievement?

 

[BxgJ]

Then be ready to pay higher taxes to support people on welfare.

We need those crappier jobs so the uneducated and unskilled can contribute something to the economy. If someone can use a screwdriver then they can assemble parts.

Would you rather have someone sitting at home on welfare, or putting together iphones?




I am in none of those categories. I live in a rural area.

How far from Houston are you? Within a decent commute distance?

 

[bshole]

DAMNIT DAMNIT DAMNIT. The motherfucker is still going up!!???? Jesus fucking christ, I am out at least 50k in stock gains. Every single stock move I have ever made has blown up in my face. I am so depressed and angry right now.

I hope Trump gets elected and blows up the stock market. That is my only chance now.

 

[BxgJ]

DAMNIT DAMNIT DAMNIT. The motherfucker is still going up!!???? Jesus fucking christ, I am out at least 50k in stock gains. Every single stock move I have ever made has blown up in my face. I am so depressed and angry right now.

I hope Trump gets elected and blows up the stock market. That is my only chance now.

Why did you get completely out to begin with?

 

[bshole]

Why did you get completely out to begin with?

An 8 year Bull Market and an election. Think about it. Market crashed in 2000 and 2008. We were due.

 

[agent00f]

Then be ready to pay higher taxes to support people on welfare.

We need those crappier jobs so the uneducated and unskilled can contribute something to the economy. If someone can use a screwdriver then they can assemble parts.

Would you rather have someone sitting at home on welfare, or putting together iphones?

There are plenty of crappy walmart mcjobs as you might've seen in the jobs report. The point is our "skilled" jobs requires skills which provide higher value-add.

 

[Texashiker]

How far from Houston are you? Within a decent commute distance?

About 2 hours from houston

 

[dank69]

First of all, what were these jobs? were they all temporary summer jobs? We have summer hires every year along with summer internships for college students.

If this were a real improvement then revenue in the form of taxes being collected by the IRS should be increasing. Also according to the Federal Reserve, if this was an improvement in employment, they should be increasing the interest for the prime lending rates. I dont see this happening any time soon. I dont even see the government being able to come up with a balanced budget. So all of this is just smoke and mirrors.

If there were 3 consecutive months of improvement that would be easy to determine some kind of trend.

Keep in mind that when Bush left office Obama had an economy on the decline. Naturally after getting the banks to work again and getting credit working again, there has to be an increase from the low point of a crash (We always hope). The question is after the recovery, are we really improving from the position the economy was in before the stock and banking crash that occurred around 2008? If the economy had really improved we should have an interest rate of about 4.0%.

A job thread wouldn't be complete without some idiot bringing up shit that is already accounted for by seasonal adjustment.

 

[echo4747]

seems as if the Jobs Reports are not as rosy as reported:
http://mobile.nytimes.com/reuters/2...rc=busln&_r=1&referer=https://t.co/f4l5OIX6TW

 

[Vic]

"A government big enough to give you everything you want is a government big enough to take away everything that you have." -- Gerald Ford
It's appalling to see how the Republican party has changed. Where once they were the party of entrepreneurs, now it's the government's fault when they don't have a job.

 

[Jhhnn]

seems as if the Jobs Reports are not as rosy as reported:
http://mobile.nytimes.com/reuters/2...rc=busln&_r=1&referer=https://t.co/f4l5OIX6TW

Top down class warfare looting sprees have long lasting consequences.

The looting had largely been accomplished prior to 2009 in the form of the Ownership Society flimflam. With the whole economy held hostage by the financial elite, we could either let 'em burn it all down or pay tribute, the latter being exactly what we're doing today.

Just say thanks to a Repub congress for holding the line on the terms of our surrender.

 

[Jaskalas]

Thanks, Obama!
Tent Cities Are Booming As Poverty Spikes

But his Wall Street buddies are leading us into a glorious economy. It trickled down from their graces after we bailed them out. Or did it?
Maybe there was no reason to bail them out after all... because it's the American people who needed it more. They still need it. People can crow about the market all they want, but that's really just a bubble to prop up the wealth of the owners. Workers are still entirely screwed.

The people are left behind in this recovery.

 

[HamburgerBoy]

Thanks, Obama!
Tent Cities Are Booming As Poverty Spikes

But his Wall Street buddies are leading us into a glorious economy. It trickled down from their graces after we bailed them out. Or did it?
Maybe there was no reason to bail them out after all... because it's the American people who needed it more. They still need it. People can crow about the market all they want, but that's really just a bubble to prop up the wealth of the owners. Workers are still entirely screwed.

The people are left behind in this recovery.

The people living in tent cities, for the most part, are not your Regular Joe Worker suddenly out of a job cuz Obamacare or whatever. They're mentally ill, drug addicts, convicted felons unable to find employment, or maybe all of the above.

 

[senseamp]

Back in the real world:
http://www.latimes.com/business/la-fi-household-incomes-poverty-20160913-snap-story.html

Poverty rate drops sharply thanks to more jobs and rising income, census figures show
...
In its annual report on income and poverty, the Census Bureau said Tuesday that the share of people in the U.S. living in poverty dropped to 13.5% in 2015, marking one of the biggest annual declines in decades.

 

[fskimospy]

Thanks, Obama!
Tent Cities Are Booming As Poverty Spikes

But his Wall Street buddies are leading us into a glorious economy. It trickled down from their graces after we bailed them out. Or did it?
Maybe there was no reason to bail them out after all... because it's the American people who needed it more. They still need it. People can crow about the market all they want, but that's really just a bubble to prop up the wealth of the owners. Workers are still entirely screwed.

The people are left behind in this recovery.

lol zerohedge. That's basically Infowars for the financial crowd. Looks like they are once again at odds with the census. Don't be duped by unscrupulous sites.

Interesting news today, as senseamp just mentioned we just saw a 5.2% increase in median income in 2015, which is huge. The gains were also spread over all income group and all racial/ethnic groups. I'm sure the standard people will come and chime in about how everything is still terrible, but this is unambiguously excellent economic news.

 

[woolfe9998]

This probably deserves its own thread, but I don't feel like creating a new one.

New data from the Census Bureau measuring incomes and poverty for the year 2015 shows a substantial increase in median income from 2014->2015 (incomes up 5.2%) and a large decrease in the poverty rate 2014-2015 (down to 13.5% from 14.8%). In macroeconomic terms, those are not minor changes. They are impressive year over year shifts.

http://money.cnn.com/2016/09/13/news/economy/median-income-census/index.html

OK, are we taking bets for how long it takes before we hear the Census Bureau data has been cooked? That's all there is on the right these days, conspiracy theories...

 

[senseamp]

This probably deserves its own thread, but I don't feel like creating a new one.

New data from the Census Bureau measuring incomes and poverty for the year 2015 shows a substantial increase in median income from 2014->2015 (incomes up 5.2%) and a large decrease in the poverty rate 2014-2015 (down to 13.5% from 14.8%). In macroeconomic terms, those are not minor changes. They are impressive year over year shifts.

http://money.cnn.com/2016/09/13/news/economy/median-income-census/index.html

OK, are we taking bets for how long it takes before we hear the Census Bureau data has been cooked? That's all there is on the right these days, conspiracy theories...

I have a great idea, let's elect Trump and throw this country back into a recession.

 

[sm625]

You can never have too many waiters and bartenders.

 

[senseamp]

You can never have too many waiters and bartenders.

Why do conservatives look down on working people?

 

[Mai72]

You can never have too many waiters and bartenders.

I have a buddy who does bartending and makes over $100k a year. So, what now? In fact, he's in a position to hide much of what he makes since much of his wage is in the form of tips. While the government is stealing 20-30% of what you make, he's paying much less.

I have another buddy whose a multi-millionaire at the age of 35. Never set foot on a college campus. He knew what he wanted, worked 16 hour days and made it.

The reality is this. The economy is good for the few who want to work at it. If you think you're going to come out of college and make the big bucks well you're in for a nadty surprise. Unless you're a lawyer, engineer, or doctor it's going to be a struggle to follow the old economy. The old way of doing things does not work today. It's a new economy with new rules. Trumo, Hillary or Boo Boo Bear ain't gonna save you. Put all the focus on developing your skills.

 

[ozzy702]

Regardless of who is elected, the economy will more than likely tank in 2017. To what extent is anyone's guess. We're due for a correction. With all the turbulence going on in the rest of the world the U.S. has been doing great so the correction may not be that big at all, or the house of cards may come tumbling down like in 08'. It will be a great opportunity for those who are ready.

 

[Starbuck1975]

The job report is outstanding but read the fine print. Growth is primarily in west coast cities, or even more specifically, the Bay Area and Seattle. This is economic growth and confidence primarily anchored to technology and service industries. The tech sector is due for a major correction, and even just a little interest rate nudge would send the housing market into another death spiral, which the west coast is particularly susceptible to.

So yes while this is good news, I greet it with cautious optimism. This feels like it could be the early 2000s all over again. I am not seeing signs of sustainable growth, but who knows, the rules that governed the old economy no longer truly apply.

 

[senseamp]

The job report is outstanding but read the fine print. Growth is primarily in west coast cities, or even more specifically, the Bay Area and Seattle. This is economic growth and confidence primarily anchored to technology and service industries. The tech sector is due for a major correction, and even just a little interest rate nudge would send the housing market into another death spiral, which the west coast is particularly susceptible to.

So yes while this is good news, I greet it with cautious optimism. This feels like it could be the early 2000s all over again. I am not seeing signs of sustainable growth, but who knows, the rules that governed the old economy no longer truly apply.

Biggest wage gains are at the bottom of the scale. But you are right, liberal West Coast states are doing great.

 

[Starbuck1975]

Biggest wage gains are at the bottom of the scale. But you are right, liberal West Coast states are doing great.

So it did trickle down, although I am sure it has more to do with liveable wage laws

 

[ivwshane]

This probably deserves its own thread, but I don't feel like creating a new one.

New data from the Census Bureau measuring incomes and poverty for the year 2015 shows a substantial increase in median income from 2014->2015 (incomes up 5.2%) and a large decrease in the poverty rate 2014-2015 (down to 13.5% from 14.8%). In macroeconomic terms, those are not minor changes. They are impressive year over year shifts.

http://money.cnn.com/2016/09/13/news/economy/median-income-census/index.html

OK, are we taking bets for how long it takes before we hear the Census Bureau data has been cooked? That's all there is on the right these days, conspiracy theories...

Yeah, you really should have created a new thread.

No matter how you cut it this is good news. Its certainly not good news for Republicans since it appears that rural areas are still not doing good and those areas are typically controlled by Republicans. No matter, they get the government they deserve.