US Unemployment Again Lowest in 50 YEARS

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Darmok
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07 Dec 2019, 2:48 am

Jobs growth soars in November as payrolls surge by 266,000

--Nonfarm payrolls surged by 266,000 in November, better than the 187,000 expected by economists polled by Dow Jones.

--The unemployment rate ticked down to 3.5% from 3.6%, back to the 2019 low and matching the lowest jobless rate since 1969.

--The end of the GM strike had a big effect, boosting employment in motor vehicles and parts by 41,300, part of an overall 54,000 gain in manufacturing.

--Average hourly earnings rose by 3.1% from a year ago, slightly above the 3% expected by economists polled by Dow Jones.

-- Experts look at markets after US economy adds 266,000 jobs

The jobs market turned in a stellar performance in November, with nonfarm payrolls surging by 266,000 and the unemployment rate falling to 3.5%, according to Labor Department numbers released Friday.

Those totals easily beat the Wall Street consensus. Economists surveyed by Dow Jones had been looking for solid job growth of 187,000 and saw the unemployment rate holding steady from October’s 3.6%. The decline in November’s jobless rate came amid a corresponding 0.1 percentage point drop in the labor force participation rate, to 63.2%.

Stocks opened sharply higher in reaction to the better-than-expected report. Bond yields also surged.


https://www.cnbc.com/2019/12/06/us-nonf ... -2019.html


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TheRevengeofTW1ZTY
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07 Dec 2019, 7:39 am

Yup, Winter is Trumping.


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Aspiegaming
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07 Dec 2019, 10:13 am

It won't last. This is just a cover to make things look good so Trump gets another term. Watch. When this is over, those jobs will turn into pink slips then everything will be back to NORMAL.


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TheRevengeofTW1ZTY
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07 Dec 2019, 10:14 am

Aspiegaming wrote:
It won't last. This is just a cover to make things look good so Trump gets another term. Watch. When this is over, those jobs will turn into pink slips then everything will be back to NORMAL.



I think Donald Trump is going to pull another Ronald Reagan on us and after he leaves office (IF he leaves) there's going to be even more poor and homeless people in this country. :|


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EzraS
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07 Dec 2019, 11:25 am

I blame the Russians.



TheRevengeofTW1ZTY
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07 Dec 2019, 12:10 pm

EzraS wrote:
I blame the Russians.


I blame the Americans. :lol: :P


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cyberdad
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07 Dec 2019, 7:59 pm

Darmok peddling pro-Trump Propaganda again...

Already covered this in another thread...Trump is reaping the benefits of Obama's economic policies as outlined by Forbes Business journal

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lostonearth35
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07 Dec 2019, 9:51 pm

I hate the workaholic society of the states. Amurricanz think if you're unemployed, you're worthless. And even if you have a job, you're still worthless unless you're a doctor or a lawyer. Not everyone wants to be a doctor or lawyer. Not everyone has the ability to be those things either. Some people are perfectly happy earning less money so that they actually have more than two hours a day to themselves. But no, the attitude of the states is that if you're not slaving away until you die, you're worthless and you're wasting your life. Stupid stupid STUPID.



TheRevengeofTW1ZTY
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07 Dec 2019, 9:56 pm

lostonearth35 wrote:
I hate the workaholic society of the states. Amurricanz think if you're unemployed, you're worthless. And even if you have a job, you're still worthless unless you're a doctor or a lawyer. Not everyone wants to be a doctor or lawyer. Not everyone has the ability to be those things either. Some people are perfectly happy earning less money so that they actually have more than two hours a day to themselves. But no, the attitude of the states is that if you're not slaving away until you die, you're worthless and you're wasting your life. Stupid stupid STUPID.


It's not just slaving away, but like you said it's the status of your job that somehow determines if you are a worthy human being in this country.

For example a security guard is somehow considered a loser compared to a cop. Nevermind the fact that they both risk their lives every day for very little pay to keep the public safe. A very ungrateful public I might add...


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XFilesGeek
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08 Dec 2019, 1:39 pm

Actual jobs, or low-paying "menial" jobs?


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SoloSailor
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08 Dec 2019, 2:06 pm

XFilesGeek wrote:
Actual jobs, or low-paying "menial" jobs?


More like fake news ie, .gov propaganda.

From Shadowstats.com:
......................................
The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.

The ShadowStats Alternate Unemployment Rate for November 2019 is 20.9%.

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EzraS
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08 Dec 2019, 9:57 pm

cyberdad wrote:
Darmok peddling pro-Trump Propaganda again...


So that's one pro-trump propaganda post compared to umpteen anti-trump propaganda posts.



cyberdad
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09 Dec 2019, 12:51 am

EzraS wrote:
cyberdad wrote:
Darmok peddling pro-Trump Propaganda again...


So that's one pro-trump propaganda post compared to umpteen anti-trump propaganda posts.


Please refer to Fig 1 (courtesy of cyberdad) and Fig 2 (courtesy of solosailor)...they are facts....published in Forbes or other respectable publications.

Darmok's claim is based on tweets from Trump or unsubstantiated propoganda published in Brietbart or Fox



EzraS
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09 Dec 2019, 1:52 am

cyberdad wrote:
Darmok's claim is based on tweets from Trump or unsubstantiated propoganda published in Brietbart or Fox


The OP article was published by CNBC.

Obviously you didn't even bother to look at the source material.



cyberdad
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09 Dec 2019, 2:31 am

EzraS wrote:
cyberdad wrote:
Darmok's claim is based on tweets from Trump or unsubstantiated propoganda published in Brietbart or Fox


The OP article was published by CNBC.

Obviously you didn't even bother to look at the source material.


CNBC is just reporting trends....if you read the financial times the reason is the "reslient labor market" kick started by the Obama government
https://www.ft.com/content/5dcbcdf8-182 ... f260415385

So the growth is despite the environment created by the Trump goons which according to the financial times is a now a period of economic uncertainty due to Trump's disruption of global trade



Rainbow_Belle
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09 Dec 2019, 2:50 am

There has been an increase in low paid menial jobs and part time jobs that have replaced full time jobs that pay a living wage.