Great Jobs Report: Unemployment Rate Falls To 7.5%

reply to post by BobM88


Except in the case that's it is revised twice, comprised of faulty data, or downright falsified. Also it isn't compared simultaneously with jobs that have been reduced, phased out, or offshored as a basis for comparison. This report just strokes people just enough into "feeling good" about the state of economic affairs without any follow through. They might as well tell me how many hand-jobs were given by turkish prostitutes last month to wall-st executives.

So what kind of jobs are these?

The number of hours worked has decreased, therefore a lot of these job are likely part time (and in the low paying service sector jobs) Also, wonder what would happen to these jobs when the QE stops......they are providing cheap money to prop up the housing bubble (Jim Cramer today said we are no longer in a manufacturing economy, but a housing economy)

Also, as others have said, take a look at the U-6 figures...recovery? Hardly.

The unemployment rate matters not at all.

What concerns me is Bernanke and the government printing money with this stimulus nonsense. Which to be fair, this is not solely an Obama thing.

Is the stock market doing better? Yes. But investors are not stupid. They know what's up. They are going to ride the market until they see the point of no return and then dump everything. They know the market is being propped up with funny money.

Get while the getting's good.

reply to post by Chrisfishenstein


You definately can't believe what they're saying about unemployment.

Not only that but some people just have given up hope.

reply to post by MidnightTide


I'd definately like to know where these so called jobs are at. Call-center in India perhaps, who knows? There are sure alot of places closing up one just closed (a pharmacy near me after being in business since the late 30's. The stock market is unnaturally high.

reply to post by BobM88


Give me a break. They are feeding you contrived bs. If you think for one moment the economy or jobs situation is better there are a few things you should be made aware of. Any reports are government generated and tell that to the millions out of work and on food stamps.

The numbers that the government posted are BS plain and simple. I was in the alcohol beverage industry for 26 years which is pretty much bullet proof in a bad economy but not this go round. Stores and restaurants are hurting bad. I am fortunate that I have saved my entire life and am a situation where I can hold out for a while with no employment.

The jobs that are out there are all minimum wage or jobs that in the past did not have requirements like a college degree to sell wine and spirits now demand it to get the job. Selling wine does not need a degree, it takes knowledge of the wine regions and a palate. They know there are a ton of people out there looking for a job that they have raised their standards because they think they can. I have seen the same job filled multiple times by unqualified people and they keep hiring more of the same just because they have a degree. A large number of jobs being offered are for about 20 hours weekly.

My company decided to close due to the crappy Illinois economy and Obamacare. They said it just wasn't worth it anymore. They gave 13 days notice and no compensation.

Don't judge the economy being in an upswing because the stock market being up, that is all because of QE which are false dollars.

I lost my job July 2012 and have been looking since. I've had 2 interviews since both places ended up not hiring when I called them back after a couple weeks of not hearing anything. Although back in March I applied for Lowe's because I used to work there in 2007. Well one day I got a text message from a friend that still works there at my old store and she said "OMG! The store you applied for called here for a reference on you! The manager told me to tell you!". Well I was ecstatic to say the least... but a few days passed and I never heard anything. Well one morning my cell rang and it was human resources asking me when I can come in to interview.

Long story short I have had 2 interviews and both interviews have went very well. There are 2 jobs I am up for depending on where they put me... outside lawn and garden or flooring. Today they told me they will have their decision by Wednesday next week and will let me know. So basically I have the job! It's taken me nearly a year and I am so grateful... I mean it's no high paying job but anything is something right now right?

It's also part time with full time in the future.

The government propaganda is at it again manufactured numbers to keep the gullible portion of the population in Oblivion while the government keeps screwing the legal working class in the nation

Lets talk what is going on that is making the manufactured unemployment rates look like they are falling.

Remember is always something going on behind the "Great anything"

The immigration bill that is been debated right now will give 33 million working visas to illegal immigrants, so how can this be sold to those opposing the bill but showing that it will not be a problem with competition coming from illegals against legal citizens?

Very simple, spoonfeed the gullible that unemployment is falling.

Wake up people.

Originally posted by Chrisfishenstein
reply to post by BobM88

 

^^^^^Beat me while I was still typing.....

Yeah they aren't taking into consideration the people still unemployed that had their benefits run out!!

Nothing changed, it is a false report......People still don't have jobs nor money, but with benefits running out on millions of people it makes Obama look like a superstar!!

edit on 5/3/2013 by Chrisfishenstein because: (no reason given)

Why do people always act like the present measure of unemployment is using a different calculation than in the past? There were people who gave up looking 4 years ago, 10 years ago, heck, even in the mid-90's the "actual" number was higher than the official. The employment situation has improved dramatically over the past 4 years. The nation's GDP has improved dramatically,the debt to GDP ratio actually peaked about 2 years ago and has reversed the rapid upward trend begun in 2001.

Does any of this have anything to do with Obama, or Bush? I don't know, and I don't care. I don't give credit to either one, though both deserve some of the blame for $4-5T spent on unnecessary wars which provide no benefit to the US, al they both deserve some blame for things not being as good as they could be.

reply to post by dogstar23


GDP is heavily manipulated.

In fact GDP was never intended to be an indicator of progress or welfare. Simon Kuznets - GDP's creator - said in 1934 that “The welfare of a nation can scarcely be inferred from a measurement of national income”.

The Office of National Statistics says that “GDP should not be interpreted as a measure of human welfare”, and the Labour Party says in its environmental manifesto, that “For too long, economic and political success has been measured solely in terms of the rate of growth of economic activity”.

www.foe.co.uk...

5 Government Statistics You Can't Trust

www.investopedia.com...

Gross Domestic Product: A Gross Miscalculation of a Nation's Economic Health

voices.yahoo.com...

Imperfections in GDP Measurement

voices.yahoo.com...

Originally posted by Thrace
I lost my job July 2012 and have been looking since. I've had 2 interviews since both places ended up not hiring when I called them back after a couple weeks of not hearing anything. Although back in March I applied for Lowe's because I used to work there in 2007. Well one day I got a text message from a friend that still works there at my old store and she said "OMG! The store you applied for called here for a reference on you! The manager told me to tell you!". Well I was ecstatic to say the least... but a few days passed and I never heard anything. Well one morning my cell rang and it was human resources asking me when I can come in to interview.

Long story short I have had 2 interviews and both interviews have went very well. There are 2 jobs I am up for depending on where they put me... outside lawn and garden or flooring. Today they told me they will have their decision by Wednesday next week and will let me know. So basically I have the job! It's taken me nearly a year and I am so grateful... I mean it's no high paying job but anything is something right now right?

It's also part time with full time in the future.

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

Congratulations! I agree, anything is something right now.

No offense meant to anyone but its funny how many people read the first post and comment without actually following ensuing "conversation" in the thread.

With all our problems happening all around and supposedly the US has 92.5% workforce efficiency?? What a load of baloney! Try more like 27.5%. It's probably even higher then that. Hardly anything is produced here anymore it's got to be a hell of lot more higher.

Numbers are nice but they miss pertinent details. Minimum wage fry cook or shelf stocker isn't really comparable a manufacturing or technical job that pays a reasonably livable wage.

When people in the media or government say this is so great without the specifics, it seems like they're trying to be cute... Most people with common sense have this response though...


For stats to honestly and really mean something, jobs need to be grouped by payscale in relation to tax brackets. Having a "job recovery" where everyone needs section-8 housing assistance and food stamps is pretty dumb-ass when compared to jobs where people pull enough weight to put a reasonable amount of money back into the system.

reply to post by BobM88


1. People can no longer get unemployment benefits so they drop out of the search. U can't apply forever. Therefore, the numbers drop. I mean we have been in a recession for nearly 5 years. U only get about 2 years unemployment.
2. Feds artificially pumping 85 billion into the market to keep it afloat. Tax payers will have to pay for it. Most likely they will confiscate your saving and pension funds like Greece when the rooster comes home to roost.
3. Sequester also help build short to market gains.

In the end, we are screwed. Don't be jolly about this short term gain. When the feds are pumping all the money in the world into the economy it will produce great numbers. But when it's time to pay back the debt, expect it to be 50 folds of what the 2008 collapse will look like.

This is all engineer by the elites. I suspect they will pull back the money pumping on the next president so they can blame it on him.

Originally posted by BobM88

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?

You know, Ragan had a big recession and within a year he fixed it without wasting 1 trillion dollars that basically did no good, Clinton did the same and so did Bush, SO Obama stumbled and stuttered for 5 YEARS trying to fix HIS recession and America's will over came it some what...so far... AND you suggest your doubts were in error?

I can tell you that America is hurting in a big way... 55% more suicides are a good indicator, look around your town and tell me that the 7.5 mean crap....People are hurting...badly and this means nothing to the millions that just stop looking or are working for low wages to feed their family. I also read that the vast majority of those jobs are part time...WEEeee what is that 10 bucks an hour? Yep Obama fix us...

Just a thought: with the healthcare plan taking effect (relatively) soon, I wonder if there's currently a trend toward cutting a significant amount of 30-39 hour/week "non-critical" positions to sub-30 hours and hiring more part-time employees to fill in the gaps. Not to suggest there's a unified conspiracy among large employers to do so, but it will be interesting to see if this becomes a trend this year.

This could save on healthcare costs/fines for the employer, continue a shift from "employee" to "worker" in perception (the power of words! "law enforcement" vs "police officer" etc) which could contribute to the further marginalization of the working class as expendable/exchangeable cogs, and make it appear as though unemployment is going down as it technically is in the sense that someone new was hired on to take a slice of the over-30 hours that were shaved off here and there by an employer.

Granted, this theory doesn't account for the costs associated with hiring/training these new part-timers, but it might not matter in the long run... or the short run, for some positions that could be split into two or three part-time positions with minimal training for the new hires or by having the ex-full-time employee training their new coworker.

If this DOES become a trend, I would expect it to happen slowly, as with many things.

Of course this little thought excursion here has no backing or evidence or anything, so take it as you will.

....Then again, maybe everything truly is well and good and the economy and job market are on the up and up.

The Fed is entirely to blame for ballooning the market by continually printing 85 billion fresh dollars each month with out any real exit plan-once they stop bubble burst-market collapses.

Just like Enron-anything-replete ANYTHING to make the numbers.

Originally posted by BobM88
reply to post by Afterthought

 

Ah, well that is interesting! U6 even went up .1% by the looks of that data.

I'm the first to admit I'm no economist, I have less than a layman's knowledge of these statistics, so I guess I'm one of those easily bamboozled by these reports.

So,you believe everything you read,it's best to research before opening mouth and inserting foot.