US recovery continues: 75th month of added jobs

Discussion in 'Politics, Religion, Social Issues' started by LizKat, Jan 6, 2017.

  1. LizKat macrumors 68040

    LizKat

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    #1
    It's been a slog sometimes and not all the jobs are great ones but they're jobs, they put money in people's pockets and so the beat goes on, breaking a record last set in 1939. Where there's money in pocket past how to pay the rent then there's the chance to create more jobs, either directly as a small biz creator or as a consumer of big ticket items or a dinner at a favorite restaurant. I guess it's okay if Donald Trump wants to think he invented the idea of making America great again. As long as the banks don't think it's time to make America go bust again, I'm good with whatever makes our jobs trend keep ticking up.

     
  2. edk99 macrumors 6502a

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    Yes the beat goes on. 18% have left the work force under obama.

    http://www.cnsnews.com/news/article...-labor-force-number-grew-18-obama-took-office
     
  3. LizKat thread starter macrumors 68040

    LizKat

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    #3
  4. MadeTheSwitch macrumors 6502a

    MadeTheSwitch

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    I keep hearing this line. But it brings up some questions. Where have these people gone? How do they not earn a paycheck for eight years? They cannot all be on welfare. How many of them would have left the workforce anyway?
     
  5. jkcerda macrumors 6502

    jkcerda

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  6. Snoopy4 macrumors 6502a

    Snoopy4

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    The banks? Good grief.
     
  7. LizKat thread starter macrumors 68040

    LizKat

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    Yeah the banks. What, you thnk they're not salivating at the prospect of kicking the consumer protection agency to the curb, and gutting Dodd Frank in its entirety? Sub prime fill-in-blanks, get ready for the rush to securitize them. There's still time before the music stops in this bull market...

    "It's all just the same thing over and over again... .we can't help ourselves..."
    I'm going to watch Margin Call again, it has acquired cult flick status in my mind.
     
  8. AlliFlowers Contributor

    AlliFlowers

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    Make plans now to not retire under Trump's regime. You don't want those unemployment figures climbing and making him look bad. Even if you are a baby boomer, and this is the time for most of us to retire....
     
  9. jkcerda macrumors 6502

    jkcerda

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    Bought my lotto tickets already
     
  10. Snoopy4 macrumors 6502a

    Snoopy4

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    Maybe people shouldn't take out loans they know they can't afford. Problem solved.
    --- Post Merged, Jan 6, 2017 ---
    Retired people aren't unemployed.
     
  11. AlliFlowers Contributor

    AlliFlowers

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    They are when they leave their jobs. You are either employed or unemployed when it comes to those statistics. You don't roll of the unemployment number for a few years, at which point the statisticians assume you've croaked, retired, or found another job.
     
  12. Snoopy4 macrumors 6502a

    Snoopy4

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    The retirement quantity is known. The problem is in the prime working group of 25-54. The participation rate should be 2-3 points higher than it is when you extract retirements. There is a fundamental problem in the labor market itself, and no, it's not because of retirements.
     
  13. LizKat thread starter macrumors 68040

    LizKat

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    Problem solved? Not if the next wave of securitizers can help it. But they need another problem to be unsolved first... that pesky consumer protection agency....

    And your Pavlovian response of "bad borrowers" to a comment about "banks" is getting really old. It's pretty much been debunked, not least by hordes of fraudulent mortgage writers getting busted, although too bad they never busted the CEOs of the hedge funds salivating for the next wave of subprime mortages to arrive so they could be bundled, securitized and moved out before they went bad. When they ran out of actual mortgages they had the brilliant idea to synthesize equivalent derivatives and sell those. No bad borrowers even needed. Anyway your dog could have got a mortgage. NINJA - no income, no job, no assets, no problem, warm body, ability to make a mark on a paper, done and done!

    So that old song, it's sweet but it's just a song...

     
  14. Snoopy4 macrumors 6502a

    Snoopy4

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    That's it. Keep ignoring the personal accountability component with the loans in the first place. It's always someone else that did it.
     
  15. Rigby macrumors 601

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    The declining labor force participation is actually a long-term trend that started years before Obama took office. A large part of the reason are demographic changes (baby boomers aging out of the workforce). BTW, the labor force is actually still growing, just slower than the population.

    By all indicators, Obama's policies worked very well. Just compare how the US did after the big recession compared to other developed countries. We have basically full employment and solid growth. Trump won't be able to keep any of his spectacular promises.
     
  16. samiwas macrumors 65816

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  17. Jess13 Suspended

    Jess13

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    #17
    Record 95,000,000 out of the labor force.


    What 'are so many of them doing?' 95 million not in US labor force

    http://www.cnbc.com/2016/12/02/95-million-american-workers-not-in-us-labor-force.html

    The November jobs report looked pretty good on the surface except for one number that popped off the page: 95 million.

    That's the number of Americans now counted as not in the labor force, a historic high that has confounded economists and policymakers. The total — 95.06 million to be more exact — has been rising consistently but surged by a gaudy 446,000 last month.​
     
  18. chown33 macrumors 604

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    #18
    From the same article:

    The structural issue is what North calls the "silver tsunami of retirees" or those 10,000 baby boomers a day leaving the workforce and heading for retirement.​

    Simple estimate: 30 days / month times 10k / day is about 300k / month. So about 2/3 of the "gaudy 446,000" are due to retirement. Which seems to answer the question of "What are so many of them doing?": retiring (mostly).
     

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