US Unemployment Fell To 3.8% In May

Discussion in 'Politics, Religion, Social Issues' started by ucfgrad93, Jun 1, 2018.

  1. IWantItThatWay Suspended

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  2. juanm macrumors 65816

    juanm

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    #3
    Same in the UK... The calm before the storm...
     
  3. tshrimp macrumors 6502

    tshrimp

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    #4
    I has been a great year. Lower Taxes, Less Unemployment, and Higher Wages. I am sure everyone here on PRSI will give our President his due credit :).
     
  4. ucfgrad93 thread starter macrumors P6

    ucfgrad93

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    #5
    Aah, the glass is half-empty kind of a guy.

    Sure they will. Just look at post #3.
     
  5. NT1440 macrumors G4

    NT1440

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    #6
    And yet, 60% of the population can’t afford a $400 emergency expense.

    I hate celebrating these ******** metrics, regardless of the party in power.
     
  6. Raid macrumors 68020

    Raid

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    #7
    But I thought the New York times was fake news!! Oh yeah that's only when they something bad about Trump.
    Honestly we have just now reached the point where policy/legislation lag is probably over, so Trump can legitimately claim this milestone under his watch. The takeaway from the article is interesting.
    We'll have to see about this america's economy is about to be hit with retaliatory counter-tariffs from many different nations. It might not be wise to bet on an interest rate raise later this year... it will be interesting if the Fed signals such this month.
     
  7. IWantItThatWay Suspended

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    #8
    This is why I say the wage increase is more important.
     
  8. tshrimp macrumors 6502

    tshrimp

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    #9
    But at least they were closer then they were.
     
  9. Mac'nCheese macrumors 68040

    Mac'nCheese

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    #10
    That's good news. I hope it continues. Still waiting on that moon base he promised. ;)
     
  10. NT1440 macrumors G4

    NT1440

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    #11
    Yes, but it’s a completely meaningless data point looking at the trends from the last 40+ years.

    If the stock market needs to be this absurdly high (based on essentially nothing), Executive pay has to be this exorbitantly stratospheric, workers have to put in this much extra time or have to hold more than one job, if THIS is what is required to get a ~3% wage increase at the macro level then this system is so utterly ****ed it should be obvious that disaster is inevitable. The economic conditions over the last 8+ years have been *dire* for most Americans while we get told everything is just hunky dory. We’ve got pigeonholed metrics that don’t relate to human conditions as our measuring stick because it’s a great way to paper over a gaping wound that was never even considered for treatment.

    A glimmer of daylight from inside an economic prison cell, nothing more.
     
  11. MacAndMic macrumors 6502

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    #12
    So increased jobs and wages are a bad thing? I am so confused with the logic on this board.
     
  12. samcraig macrumors P6

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    #13
    Yay for trends continuing!

    Let hope the tax cuts, tariffs and other policies don't screw everything up long term.
     
  13. 0007776 Suspended

    0007776

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    #14
    Good, it's been long enough that Trump can begin to take some credit for this rather than it just be the trends that started under Obama continuing. That said, before Trump's fans get too excited lets wait until people begin to file their tax returns next April and realize that in addition to a tax cut they were getting more in their paycheck because the withholding tables were changed to not withhold enough and they have to give much of it back with little to no savings to draw into. Also lets see what the effects of all of the counter tariffs are since those are just coming in.
     
  14. juanm macrumors 65816

    juanm

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    #15


    Yeah, the same glass half empty that said that Trump's summit with KJU wouldn't work out, while all the Trumpsters praised him.
     
  15. ucfgrad93 thread starter macrumors P6

    ucfgrad93

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    #16
  16. juanm macrumors 65816

    juanm

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    #17
    Yes, I saw that they said that, and it'll end up in nothing. Trump's probably promising anything to save face. NK won't give anything substantial (a burger chain...) and will be vindicated by having the POTUS seat at their table and dance their song.

    In one year he's managed to sap alliances and deals with Canada, Mexico, the EU... On the other hand, he's trying too hard to befriend NK, Russia, China, Saudi Arabia. :rolleyes:
     
  17. flyinmac macrumors 68040

    flyinmac

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    #18
    Translation... fewer people are receiving unemployment benefits.

    Actual meaning... more people’s unemployment benefits ran out. They are unable to receive unemployment. Therefore they are not counted statistically in our unemployment figures. So the percentage has gone down.

    The reality, people are still struggling to find jobs. Most of them have been struggling for so long that they no longer count because they don’t qualify for assistance anymore.
     
  18. ActionableMango macrumors G3

    ActionableMango

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    #19
    This says 40%. Can't find 60% anywhere.
    https://www.cnbc.com/2018/05/22/fed...-adults-cant-cover-400-emergency-expense.html

    In any case, it seems to be about how Americans don't save, not really about the economy or their income. I know mostly middle and upper middle class people making $60,000 to $120,000 and none of them save outside of retirement plans, and some of them don't even do that. I know a Google director making (I'm guessing) $200,000+ and he had to borrow $600 from me once for an emergency because he didn't have money in his bank account.

    They have plenty of money for vehicles, electronics, hobbies, entertainment, and eating out, so it's not an income thing. It's poor priorities.

    I have 1/3 of my annual salary as emergency fund, and as soon as a friend finds out they tell me about all the things "you should go buy".
     
  19. RichardMZhlubb Contributor

    RichardMZhlubb

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    #20
    That’s not how the unemployment rate is calculated. Eligibility for benefits is irrelevant to the calculation. The current lower rate simply reflects the continuation of a trend that has been well underway since 2010 (and has, in fact, slowed down under Trump). About the best you can say for Trump is that he hasn’t completely screwed up the positive situation he inherited from Obama.
     
  20. mac_in_tosh macrumors 6502

    mac_in_tosh

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    #21
    As you will blame him if his trade war sinks the economy.
     
  21. Mac'nCheese macrumors 68040

    Mac'nCheese

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    #22
    Costco just raised its minimum wage to double fed minimum. Hopefully other big companies will follow their lead.
     
  22. Chew Toy McCoy macrumors regular

    Chew Toy McCoy

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    #23

    And I’d like to add that the banks and Wall St. are right back to their highly risky and unethical behavior that caused the last crash while this current administration is railing against whatever completely impotent regulation still exists. The only thing they learned from the last crash is to add even more complexity to the pile so they won’t have to be burdened with any fallout this time.

    Of course none of this should distract us from getting that wall built.
     
  23. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #24
    The economy is doing so well because people are blowing their money instead of saving it. It won't last forever.
     
  24. MacAndMic macrumors 6502

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    #25
    That happens regardless of economy. Many people spend until and over their last penny. Basic economics needs to be reintroduced into our school systems....at the high school level.
     

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