U.S. May Job #s... Lowest month since Sept. 2010!

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http://www.reuters.com/article/us-usa-e ... SKCN0YO1I8


To sum up the U.S. economy only created 38,000 jobs for May and with employers revising down their jobs numbers from March and April 59,000 (numbers regularly get revised by employers as people are fired and hired).

Though somewhat good news is unemployment dropped to 4.7% lowest since November 2007, though many dropped out of the labor market which helped the numbers.

There is nothing legally Obama can do, as he has exhausted all his economic power.
The Federal Reserve is literally almost out of things they can do to the economy.

that has been essentially no recovery, that unemployment number is a classic example of how the government cooks the books

apparently people who aren't on unemployment are statistically employed

workforce participation is at 62.6% with almost 98,000,000 Americans out of the workforce

The economy might be better off without these people.

Is there any measure of automation taking effect ?

For example:

The BLS (Bureau Labor Statistics) says the legal services field is shrinking.

This is because of automation from websites like LegalZoom, and RocketLawyer, and computer programs that can do searching and legal form generation.

So less lawyer jobs, but that's a good thing.

The main unemployment number is calculated by surveying the panel of 60,000 Americans, which Reagan signed into law in 1980s and has been used ever since.

You are counted as employed if:
1) You have full time job
2) You have a part time job
3) You were paid for doing a legit job within that month.

You are counted as unemployed if:
1) You are out of a job looking for a job
2) You are receiving benefits
3) In between jobs


You aren't counted in the survey if:
1) You willing leave the labor market
2) You leave the labor market due to medical reasons
3) You are unemployed and haven't looked for job for at least 6 months

This method of calculating unemployment has traditionally has matched the actual number and numbers from other non U.S. institutions.

No one is cooking the books as of yet...

You can never have 100% labor participation of the population, due to children, stay at home parents, people not needing to work, retirees, the disabled etc...

Having a labor participation rate of between 60-70% is considered damn good for a developed country and even better for country like the U.S.

Other than putting Chelsea on the payroll, how many jobs has Hillary created in her lifetime?

How many jobs has Trump created?

It is clear that the unemployment rate is a useless metric as currently configured.