7.8%: This Is Economic Recovery?

YAHOO POLL (53,978)

The unemployment rate fell to 7.8% in September. What’s your take-away?

It assures President Obama's re-election (4,965) 9%

It's proof the economy is improving (11,758) 22%

It's temporary, the worst isn't over (6,436) 12%

I don't trust the numbers (30,819) 57%
finance.yahoo.com...

The majority don't understand jack about economics. They like to talk like they do byt they don't. People are obsessed with the unemployment numbers as if they are the de facto measurement of the economic situation in the country. That's crap. First, employment is a lagging indicator. Despite what the conservatives and GOP would have you believe, lower tax rates don't create jobs. Look it up. The data is there going back to forever. Demand create's jobs. Demand first, jobs follow.

What THEY want you to believe is that if we lower tax rates on businesses, those businesses will say, 'Gee, I have lower taxes. I think I'll hire a bunch of workers.' That's absurd. As demand for that business' goods/services increase they will: 1. Have their existing staff work harder and/or double-up responsibilities; 2. Push overtime 3. Hire temps and then only when they are confident that they are not going to be able to continue to meet demand, hire.

But that demand has to have been going on for awhile in order to impact employment figures in any meaningful way and it has to be across sectors. We've already seen encouraging signs: housing starts are trending up; Baltic Dry is trending up; housing prices have stabilized and are trending up. Consumer spending began to tank in early 2008 and although weak and fragile has slowly trended upwards since it bottomed-out in early 2009.

Like it or not we're part of a global economy. Look around the world. Yea, things aren't even close to where we'd like them to be and for someone unemployed (I lost a successful 10yr business in 2008 that was doing very well and was then unemployed for 2yrs). It sucks. But overall things are moving upward. Employment will follow as long as we don't get sucked into another war or something else craps-out. The GOP have a vested interest in making people believe that we are somehow insulated from the larger global economy and all we need to do is snap our fingers and everything will be all Clinton-era again. That's crap. And they know it's crap. But people buy it so they keep saying it.

reply to post by jtma508

Like it or not we're part of a global economy. Look around the world. Yea, things aren't even close to where we'd like them to be and for someone unemployed (I lost a successful 10yr business in 2008 that was doing very well and was then unemployed for 2yrs). It sucks. But overall things are moving upward. Employment will follow as long as we don't get sucked into another war or something else craps-out. The GOP have a vested interest in making people believe that we are somehow insulated from the larger global economy and all we need to do is snap our fingers and everything will be all Clinton-era again. That's crap. And they know it's crap. But people buy it so they keep saying it.

That works both ways, doesn't it?

I personally haven't heard the GOP make statements about being insulated from the larger global economy.

I do hear Obama say that he wants to raise taxes back to the level of the Clinton-era and that Clinton was still able to create 23,000,000 jobs during his time. We all know that's never going happen.

What are you hearing that the rest of us aren't?

The truth is, Europe probably is going to "crap out" and then we'll be following along right behind them, but I don't hear Obama talking about what he's going to do to "insulate" us from that happening either.

Labor Secretary Hilda Solis said it was “ludicrous” to suggest the data had been manipulated to boost Obama.

“I’m insulted when I hear that because we have a very professional civil service organization where you have top, top economists that work at the BLS,” Solis said on CNBS. “They’ve been doing these calculations. These are our best trained and best-skilled individuals working in the BLS, and it’s really ludicrous to hear that kind of statement.”

Conservatives: Jobs data are phony By KEVIN ROBILLARD | 10/5/12 9:51 AM EDT Updated: 10/5/12 1:28 PM EDT
www.politico.com...

At least two economists at the Bureau of Labor Statistics (BLS) have contributed to President Barack Obama’s campaign. Harley Frazis of Bethesda, MD, has contributed at least $2,000 to Obama and $9,000 to the Democratic National Convention over the last three election cycles.

Stephen Phillips of Washington, D.C., has contributed at least $270 to Obama during the 2012 cycle. According to his LinkedIn profile, Phillips has been an economist at BLS since June 2009. Phillips was responsible for examining the impact of Obamacare on Healthcare North American Industry Classification System indices.

Meet the Obama Donors at the BLS BY: Washington Free Beacon Staff October 5, 2012 1:28 pm
freebeacon.com...

Jobs Report Met with Skepticism
Labor secretary responds.

Excerpt:

“The report presented a slew of contradictory data points, with the total employment level soaring despite the low net number,” said CNBC's Jeff Cox.

The Washington Post's Neil Irwin adds, "Weird that payrolls are exactly on forecast but household survey is far better."

And the Wall Street Journal warns that these numbers should be taken "with a grain of salt."

Article and Video :

Jobs Report Met with Skepticism
Labor secretary responds.
10:23 AM, Oct 5, 2012 • By DANIEL HALPER
www.weeklystandard.com...

reply to post by FlyersFan

7.8 isn't an 'economic recovery' ... and it isn't even the accurate number.
Real unemployment is something like 21 or 22 %.

No it's not.

The highest rate is the U6 rate that inclued the marginally employed and those that have drop off unemployment but are still looking for work.

Obama's first term as President U6 was at 15.1%, now it is at 14.7%.

I love how all you Obama haters are hell bent on denying reality, and actually hoping that the economy is worse.

Extrapolate that -0.4% over to the "official" unemployment numbers and I guarantee you it will be over 8%. After the elections, they will revise the numbers back up to 8%.

HostileApostle, you are ignorant and cannot see the point.

So here you go. Have it.

Obama is cooking the books. Can you understand that?

Originally posted by HostileApostle
reply to post by FlyersFan

 

7.8 isn't an 'economic recovery' ... and it isn't even the accurate number.
Real unemployment is something like 21 or 22 %.

No it's not.

The highest rate is the U6 rate that inclued the marginally employed and those that have drop off unemployment but are still looking for work.

Obama's first term as President U6 was at 15.1%, now it is at 14.7%.

I love how all you Obama haters are hell bent on denying reality, and actually hoping that the economy is worse.

What even more disturbing is how the left views the average voter.

Nearly 4 years of disasterous domestic policy and they (the leftists) think the rest of America is stupid enough to jump for joy over some trumped up numbers a few weeks before the election.

Leave it to doom and gloom ATS to take every single good news story and club it like a baby seal. I've never seen a more sorry group of people who relish in bad news and despise anything good. None of you will be happy until everyone shares in your misery.

Get out and live life! It's all too short.

Originally posted by usernameconspiracy
Leave it to doom and gloom ATS to take every single good news story and club it like a baby seal. I've never seen a more sorry group of people who relish in bad news and despise anything good. None of you will be happy until everyone shares in your misery.

Get out and live life! It's all too short.

Leave it to the DNC to think that a few trumped up numbers a few weeks before an election can change the devastation that Obama has brought upon America these past 4 years.

reply to post by alternateuniverse

Extrapolate that -0.4% over to the "official" unemployment numbers and I guarantee you it will be over 8%. After the elections, they will revise the numbers back up to 8%.

HostileApostle, you are ignorant and cannot see the point.

So here you go. Have it.

Obama is cooking the books. Can you understand that?

Obama is cooking the books by following the exact same unemployment measurements that every other President has?

Face it, you wished the economy was doing worse so you could hate on Obama more. You want America to fail because of your irrational hate of an individual. You have no numbers, you have no facts, you have nothing but your illogical rants and fantasy reality.

The fact that Right Wingers like you are crying so much about the unemployment rate improving just shows how irrational and hateful you are.

The econoomy is improving, deal with it.

reply to post by HostileApostle


The economy is improving IF you manufacture foodstamps.

Wrong.

Here is a Politico Poll:

Jobs, jobs, jobs

How much are the latest unemployment numbers likely to affect your vote in the presidential election?

Results are based on 4362 votes

A lot. 30%

A little. 9%

Not at all. 59%

I'm not sure. 0%

www.politico.com...

Originally posted by HostileApostle
reply to post by alternateuniverse

 

Extrapolate that -0.4% over to the "official" unemployment numbers and I guarantee you it will be over 8%. After the elections, they will revise the numbers back up to 8%.

HostileApostle, you are ignorant and cannot see the point.

So here you go. Have it.

Obama is cooking the books. Can you understand that?

Obama is cooking the books by following the exact same unemployment measurements that every other President has?

Face it, you wished the economy was doing worse so you could hate on Obama more. You want America to fail because of your irrational hate of an individual. You have no numbers, you have no facts, you have nothing but your illogical rants and fantasy reality.

The fact that Right Wingers like you are crying so much about the unemployment rate improving just shows how irrational and hateful you are.

The econoomy is improving, deal with it.

edit on 5-10-2012 by HostileApostle because: (no reason given)

Originally posted by usernameconspiracy

Leave it to doom and gloom ATS to take every single good news story and club it like a baby seal. I've never seen a more sorry group of people who relish in bad news and despise anything good. None of you will be happy until everyone shares in your misery.

Get out and live life! It's all too short.

LOL! "Good" news stories aren't good when they're only crap wrapped in fake sugar coating. This site is about denying ignorance, not embracing it.

If you don't want to dig through the reports for the real numbers, might I suggest hopping over to one of the Mother Earth forums for the current statistics on baby seals, but I can't promise you'll find a good news story about that topic either. In that case, maybe you should start a "Save the Baby Seals" thread to at least make everyone feel better about the real situation!

reply to post by HostileApostle

The fact that Right Wingers like you are crying so much about the unemployment rate improving just shows how irrational and hateful you are.

It's not about being rational or irrational. It's about looking at the facts. Please read through the entire thread.

If you want to believe that averaging 112,000 job gains a month versus averaging 145,000 job losses a month over the last 31 months straight is an "improvement", well.....

reply to post by alternateuniverse


Have you seriously been lowered to using internet polls now?

And if most say these numbers don't matter, what are you all worked up about?


Desperation makes people illogical, or more illogical.

In my 40 plus years, I've never seen such contempt for any POTUS, including Carter and Nixon.

It's as if all Republicans would jump for joy if the economy completely collapsed under the current administration. It wouldn't surprise me if they were actually praying for it.

reply to post by Deetermined

crap wrapped in fake sugar coating

They're okay when washed down with koolaid.

reply to post by Deetermined

It's not about being rational or irrational. It's about looking at the facts. Please read through the entire thread.

There are no new facts in this thread, there is speculation and people who don't know what they are doing pretending to be economists.

Made up numbers aren't "facts".

Desperation, that is all it is.

If you want to believe that averaging 112,000 job gains a month versus averaging 145,000 job losses a month over the last 31 months straight is an "improvement"

Jobs have been added in the past 24 months straight, I call that improvement.

Hours worked per week are up, I call that improvement.

Wages are up, I call that improvement.


All those are from using the real data, not the made up data that some people try to use.

Originally posted by Blarneystoner
In my 40 plus years, I've never seen such contempt for any POTUS, including Carter and Nixon.

It's as if all Republicans would jump for joy if the economy completely collapsed under the current administration. It wouldn't surprise me if they were actually praying for it.

Not only are they praying for it, The Republicans in office have been actively trying to make that happen.

So despite that, Obama's policies are still improving the economy. This is why we see all the irrational posts, because they are losing their minds because Obama is still succeeding even though they are praying for economic disaster.