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Great Jobs Report: Unemployment Rate Falls To 7.5%

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posted on May, 3 2013 @ 11:09 AM
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Originally posted by camaro68ss
These guys say its different.

www.shadowstats.com...

The workforce participation rate is at 1979 levels. Not good!

These numbers provided by the government are rigged like a cheap carnival game!
edit on 3-5-2013 by camaro68ss because: (no reason given)


I heard this same statistic on the news this morning. Lowest workforce participation rate since 1979. That doesn't sound like improvement to me.

As someone else pointed out, the unemployment numbers only APPEAR better because some people have been out of work so long they have stopped looking.




posted on May, 3 2013 @ 11:11 AM
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Just to keep things honest around this topic.... Here are the current numbers. Some look good ....then you look at the rest to put it all together in context. I'd say in the end? It's a net wash. Nothing much got better or particularly worse since last month. Just the same 'ol, same 'ol and life goes on for another month.

Oh... and the Government sector is still booming in many areas (not everyone got a haircut on sequestration, after all). That says something when you consider that when looking at the lackluster..rather unhappy numbers.


(Source: Bureau of Labor Statistics)

* Oh... silly me... The top number is U-1, the bottom is U-6. They get more accurate as you move down the chart ..and the link goes right to this page on the Government site. There, they have the full explanation next to this chart for what those numbers mean and why they are so different.
edit on 3-5-2013 by Wrabbit2000 because: (no reason given)



posted on May, 3 2013 @ 11:12 AM
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Originally posted by 48e18

Originally posted by Afterthought
reply to post by BobM88
 


I appreciate your positive attitude, but I believe the number of unemployed has dropped only because people have fallen out of the system and aren't collecting unemployment benefits anymore.
According to this, it's 13.9%
portalseven.com...


And?

The U6 is still on the decline and still under what it was when Obama took office in 2009.

You can't compare today's U6 to the pasts U3 (official number).

At some point, people are going to have to stop lying to themselves and admit that Obama turned this economy around. Have you looked at the housing market lately? That is bouncing back to...so is the stock market.

History books will show that Obama saved the economy...at this point it is historical fact.


Work force rates are at 1979 levels!

www.zerohedge.com...

The Federal Reserve is pumping 85 billion dollars into the market a month! 45 billion into bonds, the other 40 is going into the “to big to fail” banks and purchasing “toxic assets”, YES BANKERS ARE GETTING FREE PRINTED MONEY! Your friend Obama is to busy helping bankers and not main street.

The Federal Reserve is purchasing 90% of all government debt with printed money for the last 5 years! what do you think is going to happen when those bonds, purchased with printed money matures?

These bonds are being purchased at record low Interest rates( 1.5%-2%) And the interest on the debt is at $350 billion dollars. What happens when rates rise back up to their historical rates of 6%? You’re going to see the interest on debt TRIPPLE to $1.050 TRILLION. That’s 42% of the money taken in by the government through taxes going to interest payments. At that point we defalt.

If the economy was doing so well, why has the FEDs not stopped print 85 billion dollars a month? The stock market is at record HIGHs and there still printing money? That’s scary!


edit on 3-5-2013 by camaro68ss because: (no reason given)



posted on May, 3 2013 @ 11:13 AM
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Originally posted by GeorgiaGirl

Originally posted by camaro68ss
These guys say its different.

www.shadowstats.com...

The workforce participation rate is at 1979 levels. Not good!

These numbers provided by the government are rigged like a cheap carnival game!
edit on 3-5-2013 by camaro68ss because: (no reason given)


I heard this same statistic on the news this morning. Lowest workforce participation rate since 1979. That doesn't sound like improvement to me.

As someone else pointed out, the unemployment numbers only APPEAR better because some people have been out of work so long they have stopped looking.


your correct, its all propaganda to make those in congress and in power look better so they can get re-elected. Its no longer about the we the people but ME ME ME in congress and the white house



posted on May, 3 2013 @ 11:18 AM
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reply to post by Wrabbit2000
 


Thanks for crunching the numbers, Wrabbit!

Everyone sure has been hoping that things are going to improve, but the road just keeps getting longer and twistier.



posted on May, 3 2013 @ 11:18 AM
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Originally posted by Covertblack
reply to post by 48e18
 





(which would suggest you aren't looking very hard).


Conjecture.

What about,


The government counts as unemployed only those who are actively looking for new jobs. As people have given up, the unemployment rate has declined – not because more people are working, but because more people have stopped looking for work.


Is that false?


It's impossible to tell if that is a true or false statement without data to back it up. People fall out of the workforce all the time for reasons not related to not being able to find a job. People retire (a lot of that going on right now with baby boomers), people die (again, a lot of that going on), women get pregnant and decide not to return to work...a drop in the participation rate can not be conclusively tied to there being no jobs...you would need more data to prove that point.

The participation rate did not change this month. It dipped 0.3% last month...not enough to make a statistical change in the unemployment rate due to the way the unemployment rate is calculated. The government maybe able to hide a 0.1 to 0.2 fudging of the numbers over a 4 year period...but they aren't going to be able to hide a 3% ghost statistic.

If you seriously think that the economy is worse today than it was in 2009, then there is nothing I can present to you to change your mind. The fact is that now almost every single measure is improving...jobs, housing, stock market, gold is on the decline, interest rates are going to start rising again soon.

If this solid data doesn't convince you that things are improving, then I must assume that you don't want things to improve for whatever reason and so you are denying valid statistics and information due to confirmation bias.

edit on 3-5-2013 by 48e18 because: (no reason given)



posted on May, 3 2013 @ 11:22 AM
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reply to post by BobM88
 


Not even want to read the source. To publish stats is a dirty old trick played for all governments, it always works.

Unemployment rates fall when underemployment rate goes up.

We have people accepting to work at 8$ per hour in jobs that worth 12$ per hour or more.

There is a new unnamed working class with less than 40 hours a week, but still considered full time workers.

Not even want to mention the millions working just 15/20 hours part time jobs.

Consider the term "Cook the books".



posted on May, 3 2013 @ 11:24 AM
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Originally posted by camaro68ss

Originally posted by 48e18

Originally posted by Afterthought
reply to post by BobM88
 


I appreciate your positive attitude, but I believe the number of unemployed has dropped only because people have fallen out of the system and aren't collecting unemployment benefits anymore.
According to this, it's 13.9%
portalseven.com...


And?

The U6 is still on the decline and still under what it was when Obama took office in 2009.

You can't compare today's U6 to the pasts U3 (official number).

At some point, people are going to have to stop lying to themselves and admit that Obama turned this economy around. Have you looked at the housing market lately? That is bouncing back to...so is the stock market.

History books will show that Obama saved the economy...at this point it is historical fact.


Work force rates are at 1979 levels!

www.zerohedge.com...



If the economy was doing so well, why has the FEDs not stopped print 85 billion dollars a month? The stock market is at record HIGHs and there still printing money? That’s scary!


edit on 3-5-2013 by camaro68ss because: (no reason given)


It is more than scary. What will happen when it all collapses? People need to wake up!



posted on May, 3 2013 @ 11:25 AM
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reply to post by 48e18
 


It's impossible to tell if that is a true or false statement without data to back it up.


If you seriously think that the economy is worse today than it was in 2009, then there is nothing I can present to you to change your mind.


The fact is that now almost every single measure is improving...jobs, housing, stock market, gold is on the decline, interest rates are going to start rising again soon.

So, you accuse a person of not offering facts, yet you do the same?
Where's your data to back up your statement?



posted on May, 3 2013 @ 11:26 AM
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reply to post by 48e18
 


I don't think we are doing as bad as we were, but we certainly aren't doing great. We have 1.8 million on disability since the recession occurred.

Also,


There is always some unemployment. Millions of Americans are out of work at any given moment even in the best of times. But the economy is still roughly 10 million jobs short of returning to normal levels of unemployment and labor force participation. That’s a lot of missing jobs.


And,


But there was a dark side to the report: Total hours worked fell sharply, and the total amount of money earned by U.S. workers actually declined from the month before. “Aggregate weekly hours” is an obscure series of data in the jobs report, but it’s vital to understanding how strong the economy is performing. As the name implies, it measures the total number of hours worked, which is what matters for sizing up overall growth in the economy. Usually, we focus just on the number of new jobs created and the unemployment rate, but the number of hours we work matters just as much, if not more, to our economic well-being.


So still some work to be done. I don't think we are out of the woods yet.

www.marketwatch.com...
edit on 3-5-2013 by Covertblack because: (no reason given)



posted on May, 3 2013 @ 11:26 AM
link   

Originally posted by 48e18

Originally posted by Covertblack
reply to post by 48e18
 





(which would suggest you aren't looking very hard).


Conjecture.

What about,


The government counts as unemployed only those who are actively looking for new jobs. As people have given up, the unemployment rate has declined – not because more people are working, but because more people have stopped looking for work.


Is that false?


It's impossible to tell if that is a true or false statement without data to back it up. People fall out of the workforce all the time for reasons not related to not being able to find a job. People retire (a lot of that going on right now with baby boomers), people die (again, a lot of that going on), women get pregnant and decide not to return to work...a drop in the participation rate can not be conclusively tied to there being no jobs...you would need more data to prove that point.

The participation rate did not change this month. It dipped 0.3% last month...not enough to make a statistical change in the unemployment rate due to the way the unemployment rate is calculated. The government maybe able to hide a 0.1 to 0.2 fudging of the numbers over a 4 year period...but they aren't going to be able to hide a 3% ghost statistic.

If you seriously think that the economy is worse today than it was in 2009, then there is nothing I can present to you to change your mind. The fact is that now almost every single measure is improving...jobs, housing, stock market, gold is on the decline, interest rates are going to start rising again soon.

If this solid data doesn't convince you that things are improving, then I must assume that you don't want things to improve for whatever reason and so you are denying valid statistics and information due to confirmation bias.

edit on 3-5-2013 by 48e18 because: (no reason given)


you fail to miss the point. all those Statistics are measured in dollars. Dollars are being printed and inflated. When the dollar inflates, data inflates with it. When the baseline goes up, everything else does too.

Interest rates will never rise again, the FED will not allow it. Rasing rates to historical levels will bring the Interest on debt up to 1.050 trillion dollars. Thats 42% of the governments revenue that is brought in through taxes. Thats 42% going to pay the interest on debt only! Its not happening!
edit on 3-5-2013 by camaro68ss because: (no reason given)



posted on May, 3 2013 @ 11:28 AM
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Originally posted by BobM88

The April number is out and it's good all around! This is a major relief for the economy, as people have been worried about slowing data. The 165,000 new jobs was above the 140,000 that was expected. The unemployment rate fell to 7.5%. It was expected to stay flat at 7.6%. And there were big upward revisions to last month, which was originally really weak.


The April Jobs Report

I'll admit I've had my doubts about Obama, but this is good news. Perhaps I've been wrong about his policies? Or is this due to the sequester? As everyone tended to blame Bush for the economy during his tenure, (and even long after), and people have been blaming Obama for the economy when its been bad during his first term I guess he deserves credit when things are getting better too?

Thoughts anyone?
edit on 3-5-2013 by BobM88 because: (no reason given)


The Sequester has assured us a AAA rating for the rest of the year.

USA GDP growing at around 2.5%.

Jobs are being created.



posted on May, 3 2013 @ 11:32 AM
link   

Originally posted by GeorgiaGirl

Originally posted by camaro68ss
These guys say its different.

www.shadowstats.com...

The workforce participation rate is at 1979 levels. Not good!

These numbers provided by the government are rigged like a cheap carnival game!
edit on 3-5-2013 by camaro68ss because: (no reason given)


I heard this same statistic on the news this morning. Lowest workforce participation rate since 1979. That doesn't sound like improvement to me.

As someone else pointed out, the unemployment numbers only APPEAR better because some people have been out of work so long they have stopped looking.


Yes, we need to put Americans back to work.

Repealing ObamaCare should help make that happen.


Democrat Harry Reid says ObamaCare is a Train Wreck!


Charles Krauthammer calls ObamaCare a Train Wreck crashing into a Junk Yard.


Repeal & Replace



posted on May, 3 2013 @ 11:32 AM
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reply to post by Afterthought
 



So, you accuse a person of not offering facts, yet you do the same?
Where's your data to back up your statement?


Here you go, I didn't realize that this was hidden information or hard to get with google so I didn't see why I had to do people's learning for them.

Not that anyone here will believe this data, people here have already shown they won't believe actual data that has been collected for the same way for decades. But here you go.

Jobs (we already covered, but here go look at the trend)
portalseven.com...

Housing
www.npr.org... prProgramsATC+%28NPR+Programs%3A+All+Things+Considered%29&utm_content=Yahoo+Search+Results

Auto (forgot this one last time)
finance.yahoo.com...

Stock Market (go check trends for past year)
finance.yahoo.com...

Gold (check trend for past year)
www.goldprice.org...



posted on May, 3 2013 @ 11:33 AM
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Originally posted by TauCetixeta

Originally posted by BobM88

The April number is out and it's good all around! This is a major relief for the economy, as people have been worried about slowing data. The 165,000 new jobs was above the 140,000 that was expected. The unemployment rate fell to 7.5%. It was expected to stay flat at 7.6%. And there were big upward revisions to last month, which was originally really weak.


The April Jobs Report

I'll admit I've had my doubts about Obama, but this is good news. Perhaps I've been wrong about his policies? Or is this due to the sequester? As everyone tended to blame Bush for the economy during his tenure, (and even long after), and people have been blaming Obama for the economy when its been bad during his first term I guess he deserves credit when things are getting better too?

Thoughts anyone?
edit on 3-5-2013 by BobM88 because: (no reason given)


The Sequester has assured us a AAA rating for the rest of the year.

USA GDP growing at around 2.5%.

Jobs are being created.


I wasnt aware S&P upgraded us back to AAA. Prove it!

Cutting 2.5% off of FUTURE spending is not cutting actual spending. Why are we still spending more this year then last year them?



posted on May, 3 2013 @ 11:36 AM
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reply to post by camaro68ss
 



you fail to miss the point. all those Statistics are measured in dollars. Dollars are being printed and inflated. When the dollar inflates, data inflates with it. When the baseline goes up, everything else does too.


No, most of them aren't measured in dollars at all.

Stock market, housing, auto sales...those are all measured in units sold/traded.

This is the last piece of propaganda that those on the Right are holding onto. In time you will see you were lied to and that the Fed Reserve buying more bonds than usual was the right thing to do and it helped save the economy.

I don't really care if you choose to believe it or not, reality doesn't lie.



posted on May, 3 2013 @ 11:36 AM
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Well, if people liked my little chart, captured from one bit of data? How about the whole enchilada on 1 page? Text explanations and multiple tables ranging from the kinda, sorta good...to the downright ugly and then, breaking it down to some specific industries ..as well as by state.

Bureau of Labor Statistics - Unemployment Figures Broken Down

Now this page doesn't get into the confusion of U-1 through U-6. those are all U-3 numbers being used...which is the normal one everyone sees on Fox or NBC. Table A and E are the most interesting to me ....but they all hold their value to read over.

According to Table A? Multiple states, by the standard number (No funny business) are sitting at 9.4 - 9.5 %.

So, having a good day right now depends greatly on where you happen to live. I would not recommend California, Illinois or Mississippi, for instance. They are having a decidedly bad day, I think. You just can't call anything good about an unemployment number in excess of 9% for a whole state. Especially one with the population of California.

There IS another section of that site with reports down to metro areas ..and I haven't checked. Heck.. I can't do all the work, right? Last time I did though, there were local areas in California ranging between 20 and 30 % unemployment. Again, that's the standard U-3, or Media number. Not the 'always higher' U-6 that folks rarely hear used.

Hope that helps! (well... Nothing happy about it, I know...but you all know what I mean.)



posted on May, 3 2013 @ 11:37 AM
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reply to post by 48e18
 


Thanks so much for the data. I'll check it out.
I simply appreciate it when someone states something as fact and provides the proof. It's just good posting etiquette.



posted on May, 3 2013 @ 11:38 AM
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reply to post by Starwise
 



It is more than scary. What will happen when it all collapses? People need to wake up!


It already collapsed, it collapsed in 2008.

We had a tough 2-3 years, we got through it, we are recovering...once again the fear mongers were wrong.

If you can count on anything, it is that the fear mongers will always be wrong. If you want to find out what absolutely is not going to happen, just look for what the fear mongers are trying to spread.



posted on May, 3 2013 @ 11:38 AM
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Originally posted by camaro68ss

Originally posted by TauCetixeta

Originally posted by BobM88

The April number is out and it's good all around! This is a major relief for the economy, as people have been worried about slowing data. The 165,000 new jobs was above the 140,000 that was expected. The unemployment rate fell to 7.5%. It was expected to stay flat at 7.6%. And there were big upward revisions to last month, which was originally really weak.


The April Jobs Report

I'll admit I've had my doubts about Obama, but this is good news. Perhaps I've been wrong about his policies? Or is this due to the sequester? As everyone tended to blame Bush for the economy during his tenure, (and even long after), and people have been blaming Obama for the economy when its been bad during his first term I guess he deserves credit when things are getting better too?

Thoughts anyone?
edit on 3-5-2013 by BobM88 because: (no reason given)


The Sequester has assured us a AAA rating for the rest of the year.

USA GDP growing at around 2.5%.

Jobs are being created.


I wasnt aware S&P upgraded us back to AAA. Prove it!

Cutting 2.5% off of FUTURE spending is not cutting actual spending. Why are we still spending more this year then last year them?


Moodys still has us at AAA. The S&P will follow. They both have their eyes on the

U.S. Federal Deficit number getting smaller this year. Smaller? How did that happen?





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