Unemployment is 3.9 percent

[Into the Night]

Even your own links show that you cherry picked data and don't understand statistics.

Remember that government does not create jobs (except in government).

 

[Into the Night]

Back in the 20th century, Republicans used to love to cite the summary statistic of how many jobs were created under Reagan.

This thread clearly shows Republicans belatedly now hate that metric.


"Trump will have the worst jobs record in modern U.S. history. It’s not just the pandemic."
https://www.washingtonpost.com/business/2021/01/08/trump-jobs-record/

Government doesn't create jobs (except in government).

 

[Cypress]

You are quoting made up numbers. Governments don't create jobs (other than in government). Indeed, you are actually arguing that you think government employing everyone is a good idea. Never mind there are no longer people to build and maintain the plumbing, electrical system, run the clinics and hospitals, drive the trucks, build your computer, or any other activity in the private sector.

Stop watching MSNBC. It is fiction. It is not news. It is Fake News.

I am citing a performance metric which has been widely used by major media sources for decades.

The arithmetic sum of the number of jobs added during the time a president holds office.

No Republican started complaining about using that metric until it started to make Republicans look incompetent:


Less than one million jobs collectively were added during the terms of the last three Republican presidents.

More than 41 million jobs collectively added during the last three Democratic presidents.

 

[Sailor]

Even your own links show that you cherry picked data and don't understand statistics.

He does however have his PHD in bullshit.

 

[Into the Night]

We're in a Depression right now? And we were in a Depression under Obama?

Yes.

Who knew?

Apparently you didn't.

I thought they had actual stats & metrics for such things, but apparently they can just be declared.

They do. You're just ignoring them.

The percentage of business failures.
The inflation rate.
The higher cost of conducting business (including oppressive regulations).
The number of shortages.

 

[BartenderElite]

Yes.

Apparently you didn't.


They do. You're just ignoring them.

The percentage of business failures.
The inflation rate.
The higher cost of conducting business (including oppressive regulations).
The number of shortages.

Can you provide the economic definition of a "Depression"?

 

[Into the Night]

I am citing a performance metric which has been widely used by major media sources for decades.

Ad populum fallacy. Random numbers are random numbers. You cannot use them as data.

The arithmetic sum of the number of jobs added during the time a president holds office.

There is no data.

No Republican started complaining about using that metric until it started to make Republicans look incompetent:

There is no data.

Less than one million jobs collectively were added during the terms of the last three Republican presidents.

There is no data. Argument from randU fallacy. You are making up numbers again.

More than 41 million jobs collectively added during the last three Democratic presidents.

There is no data. Argument from randU fallacy.

 

[Into the Night]

Can you provide the economic definition of a "Depression"?

RQAA

 

[ExpressLane]

Trump promised me a massive depression if Biden were allowed to be inaugurated.

https://www.google.com/amp/s/www.msnbc.com/msnbc/amp/ncna1287241

Before you crow to much the labor participation rate is at the lowest point it has ever been in at least twenty years. When people leave the labor force the unemployment. Rate goes down.

 

[ThatOwlWoman]

Trump promised me a massive depression if Biden were allowed to be inaugurated.

https://www.google.com/amp/s/www.msnbc.com/msnbc/amp/ncna1287241

And isn't gas supposed to be $5/gallon now?

 

[ThatOwlWoman]

Before you crow to much the labor participation rate is at the lowest point it has ever been in at least twenty years. When people leave the labor force the unemployment. Rate goes down.

It's called "retirement." You've no doubt heard about the Boomers. We are all retiring now.

 

[Sailor]

It's called "retirement." You've no doubt heard about the Boomers. We are all retiring now.

There are more millennials than boomers.

 

[ThatOwlWoman]

We're in a Depression right now? And we were in a Depression under Obama?

Who knew? I thought they had actual stats & metrics for such things, but apparently they can just be declared.

No facts for these schmucks!

We were actually in a recession shortly *before* the pandemic hit in early 2020. According to Reuters, it was also one of the shortest.

https://www.reuters.com/business/recession-ended-april-2020-making-it-shortest-record-2021-07-19/

 

[ThatOwlWoman]

There are more millennials than boomers.

That doesn't have anything to do with Boomers retiring in large numbers.

 

[Sailor]

That doesn't have anything to do with Boomers retiring in large numbers.

Sure it does. Millennials should be filling in those jobs. No low participation rate.

 

[Flash]

Just a crappy economy.

So what if unemployment is 3.9%? The U30 is meaningless on its own, that's why politicians cite it so often. The employment rate in the US has remained flat at around 57 to 58%. That means that if the unemployment rate has fallen, fewer people are looking for work, not that more people are working.

I would posit that a major reason for this is that unemployment and welfare benefits at the moment are quite generous and amount to somewhere (depending on a person's circumstances) the equivalent of $20 and $30 an hour pay. Given that, why would anyone take a job for less pay than they can get sitting around doing nothing?

The employment rate steadily increased from 57.5% in 1/21 to 59.5% in 12/21.

 

[ThatOwlWoman]

Sure it does. Millennials should be filling in those jobs. No low participation rate.

As the older ones retire, middle ones move up the ladder into their vacated places. That leaves room below them for the younger workers. It seems to be the low-wage jobs that are crying for workers... restaurants, retail, hospitality, unskilled labor, etc.

 

[Cypress]

And isn't gas supposed to be $5/gallon now?

I wonder what happened to the beheadings and kidnappings of Americans we were promised in Afghanistan?

 

[ExpressLane]

It's called "retirement." You've no doubt heard about the Boomers. We are all retiring now.

A a whole lot of people lost their jobs at a age where retiring was a option . So they took early retirement. So you think enough Baby Boomers retired in the last year to significantly cause the labor participation rate to dip.

The majority of Baby Boomers (U.S. adults born 1946 to 1964) are still in the labor force, and the oldest among them are staying in the labor force at the highest annual rate for people their age in more than half a century. In 2018, 29% of Boomers ages 65 to 72 were working or looking for work, outpacing the labor market engagement of the Silent Generation (21%) and the Greatest Generation (19%) when they were the same age, according to a new Pew Research Center analysis of official labor force data.

https://www.pewresearch.org/fact-tank/2019/07/24/baby-boomers-us-labor-force/

 

[T. A. Gardner]

The employment rate steadily increased from 57.5% in 1/21 to 59.5% in 12/21.

That's "around 58%." It also doesn't explain that if 59.5% of the workforce is employed, and 3.9% are unemployed, what the other 36.6% are doing... That's a bit more than 1 in 3 workers who isn't accounted for here.