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November Jobs Report: Economy Adds 228,000 Jobs; Unemployment Steady (npr.org)
An anonymous reader shares an NPR report: The U.S. economy added 228,000 jobs in November, according to the monthly jobs report from the Bureau of Labor Statistics. The unemployment rate remained steady at 4.1 percent, unchanged from October. "Employment growth has averaged 174,000 per month thus far this year, compared with an average monthly gain of 187,000 in 2016," the agency's Acting Commissioner William J. Wiatrowski said of the report. The number of unemployed people was "essentially unchanged at 6.6 million," the bureau said. Of that number, 1.6 million are considered to be long-term unemployed -- workers who have not had jobs for 27 weeks or more. "Among the major worker groups, the unemployment rate for teenagers increased to 15.9 percent in November," the Bureau of Labor Statistics said. Other groups saw little change from the previous month. As for wages, the agency says, "In November, average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $26.55. Over the year, average hourly earnings have risen by 64 cents, or 2.5 percent."
Compared to the size of the population, isn't that a rounding error at best?
#DeleteFacebook
There is a dark side to full employment. This means we cannot have growth because companies will not be able to hire new people even if they wanted to. Kicking out people and focusing on these people who are different will hurt the economy. Because without these companies growing, there will be a point where all the people who wanted their stuff will have it, and stop buying it.
If something is so important that you feel the need to post it on the internet... It probably isn't that important.
I guess predictions are never a fact.
Because if you pay people to suffer, they will suffer.
Well, if you don't have the reading comprehension skills to see that they're talking especially about manufacturing jobs, then I suppose that might explain why your who notion of employment revolves around wearing a Walmart smock.
Don't disappoint your bird dog. Go to the range.
Really. So you think that the people who sneak across the border and are up for deportation because they've committed crimes are the ones that would be eligible for higher paying jobs in the sectors we're talking about?
Don't disappoint your bird dog. Go to the range.
Incorrect. Full employment will encourage spending on automation, which is a Good Thing (TM). Slightly less good would be offshoring or using illegal immigrant but any of these scenarios are very much superior to less than full employment. #MAGA
This is the number we should be looking at. Did the number of government jobs grow or shrink? You can't fire these people easily and they get a pension for life Public sector jobs will always be a net drain on the economy because they produce nothing of value that can be exported.
See, its because Trump exited the Paris Accord which saved $3 trillion which he then wisely invested in the wall, creating wall based jobs.
Or it's the optimism at having a Trump based President, some sort of good effect, caused by the attempt to kill health insurance for old people with preconditions making people work harder. Coal jobs increases or something, whatever, Trump winner! Trump for President in 2020! Make America great againsky!
"We've added 228,000 new jobs! They pay 9 dollars an hour, and require at least two bachelors and 5 years of previous experience."
If you don't care about it, why comment on it. Especially when you have no idea what you're talking about. Another ignorant eurotrash fuckwit here.
Seriously. Why the fuck should I give a shit about the job market in the US? Especially if 99% of those "created" jobs include the phrase "Hello, welcome to Walmart".
There's a link to the Bureau of Labor Statistics report in TFA; here it is again. I believe this is what you might be looking for, since those Walmart jobs you disdain are almost exclusively part-time: "The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 4.8 million, was essentially unchanged in November but was down by 858,000 over the year. "
We really feel with you and your buddies at Lockheed Killmart and Goldmann-Sachs.
Trump is such a brute as he interferes with your elite agenda.
A tight labour market means you will be treated with respect from employers. It means you can have a family based on a full time job.
Only the agents of the 1% want an "unemployed pool".
Over the year, average hourly earnings have risen by 64 cents, or 2.5 percent.
It's no wonder that employment is down to 174,000/month this year from 187,000 in 2016. We need to find a way to decrease these hourly wages so that companies can afford to hire.
To make a note, manufacturing jobs have been on the rise for a few years now. Just because it is a manufacturing job, it doesn't automatically make it a good one.
Having done IT for manufacturing companies, there is an hierarchy for job.
Machinists and Welders are at the top.
Floor workers are in the middle
Dock and shipping are at the bottom.
If something is so important that you feel the need to post it on the internet... It probably isn't that important.
There is a dark side to full employment. This means we cannot have growth because companies will not be able to hire new people even if they wanted to. Kicking out people and focusing on these people who are different will hurt the economy. Because without these companies growing, there will be a point where all the people who wanted their stuff will have it, and stop buying it.
Because the unemployment rate is bullshit. Look at the labor force participation rate - AKA the "employment rate".
Note how it's declined precipitously since 2009. There are a lot of people available for work, which is why wages have been stagnant despite the "low" unemployment rate.
Due to the Iranians blowing up dozens of oil tankers, oil would have jumped to $190. But don't despair !
Some filthy rich Saudi Slavekeepers would have bought ten gold-plated Boeing 747s as their private jets. Lockmeed Killmart stocks would have skyrocketed, too. Think of all the ammo and spare parts needed.
The world is so unfair to the 1% and their intentions to create a Dead Zone around Israel !
As we were repeatedly told during the campaign when good employment numbers kept coming out, these are fake numbers.
The words of the con artist ring true. These are fake numbers. And the same reasons he gave for calling the numbers fake hold true now.
19 times he said the numbers were fake.
Job numbers are biggest hoax in modern politics.
So there you have it. More fake numbers.
We will bankrupt ourselves in the vain search for absolute security. -- Dwight D. Eisenhower
Which is actually rather stupid.
Without competent people to receive materials and inspect them, the business is dead in the water. My company had had quite a hard time finding competent people who can understand the manufacturing system, the various technicalities required to inspect materials for conformity, etc. Without these people, product could not be built.
Same for shipping. We have no less than 6 major shipping companies we use. Each has separate packing requirements, documentation requirements, schedules and rates. Add to that the fact that the product is highly sensitive and requires reams of documentation, and special handling and packaging. While it's no rocket science, it's definitely not burger flipping.
When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
Now, let's see what happens over the next year or so. And yes, a us presidents actions normally take 6-12 months to take hold. And since trump has not pass a single item that really impacted the economy, this remains Obama's.
I prefer the "u" in honour as it seems to be missing these days.
We know you are sore losers, but why don't you work harder on your "he is a Russian agent" meme ?
Maybe your propaganda org Hollywood could create a few movies about that.
I found the CNN headline interesting:
Another strong jobs report: Unemployment rate remains at 17-year low
This on CNN's front page, with their usual "impeach Trump!" stuff above and below. CNN continued:
--
The report also showed that on average weekly paychecks increased by 3.1% over the last 12-months, the first time that reading has topped 3% in nearly seven years
--
When CNN feels obligated to mention that paychecks are rising faster than they have since Bush budgets, that's interesting.
We have 300+ million. Of that roughly 200+ million are working. So adding 228k is roughly 1/1000 or .1%. with unemployment steady, it means that ~228k were laid off and then rehired elsewhere.
I prefer the "u" in honour as it seems to be missing these days.
they're talking especially about manufacturing jobs,
They are talking about manufacturing jobs because of political rhetoric, not because it shows any new trends. Manufacturing jobs grew by 126,000 per year from 2010-2016, but of course the White House only factors on 2016 where the was job loss in the sector. If you wanted a more liberal cherry picking of data you would look at 2014 where manufacturing jobs rose by over 200,000 (which is higher than 2017 end of year projections).
Put into context, manufacturing jobs dropped by about 600,000 per year from 2001-2010 until the previous administration turned that around. Perhaps if this White House was able to get manufacturing job growth back to the 600,000 per year we saw in the 60's (adjusted for population size) then that would be a paradigm shift as compared to the last decade. But 100,000-200,000 manufacturing job growth per year is simply the trend we have been seeing for the past 7 years.
But like jellomizer wrote in his response it is more important to look at what type of manufacturing jobs are being added. My assumption is it matches most other job growth, which is a very small amount of high paid professionals and a very large amount of below living wage low skilled jobs.
-- All that is necessary for the triumph of evil is that good men do nothing. -- Edmund Burke
Nope. Best thing we can do is phase in e-verify over 2 year period while pushing robotics. This would give ppl and business time to adjust.
I prefer the "u" in honour as it seems to be missing these days.
I have stopped replying to ACs but will make exception here. The fact is that fewer ppl are available due to retirement. Basically, u are looking at an anomaly going on because many retired still need decent insurance.
I prefer the "u" in honour as it seems to be missing these days.
You might want to check those numbers....
Labor force participant rate is 62.7%. To give you perspective, it was between 58% & 61% from 1948-1975, and between 64% & 67% from 1980-2011 (2011 is when Boomers started hitting 65).
We have 160,529,000 in the workforce, of which 153,918,000 are working.
Pretty much every day another 10,000 Boomers hit retirement age, while 11,000 people turn 18.
Many retired need a decent insurance system, just like your ass backwards country.
The importance of the job has no bearing on its pay. It's about how easy it is to replace someone. If you can take someone off the street, give them a few days of training, and get them working right away, that's going to be a low paying job unless there's some unusual condition associated with it, like a high risk of injury or death.
or ~228k were fudged out of the statistics in other ways.
US employment statistics are so dodgy they would make a Chinaman blush.
Exactly, the general trends have not changed much for about 6 years: unemployment has steadily nudged down and the stock market has steadily nudged up. There were a few shorter-term bumps and spikes along the way, but the medium-term trends have been consistent. Same for inflation and GDP. Trump hasn't changed the general trend-lines (within typical noise levels).
That being said, we are due for a recession based on past "business cycles", which are typically on a decade cycle. An upward trend of this current length is rare. It will either break recovery duration records, OR a recession will soon hit as the normal cycles usually bring.
I wonder what T would blame the likely recession on? Further, I hope it's NOT a deep recession, because the coming tax cuts are further draining away our ability to have a "rainy day" stimulus. They ignored the boy-scout motto: Be Prepared.
Table-ized A.I.
Pay (and prestige) for any job does not depend on the impotance of the job alone - never has. Any business would be in trouble without someone to clean the toilets.
It's not about importance, but about value of and difficulty in hiring (or replacing) 1 additional person, vs the number of people willing and able to do the job. The more that people either want to do the job (because it's cool) or are able to do the job (even if it's a shit job), the less it will pay relative to similar work, and usually the lower in the pecking order it will be.
Socialism: a lie told by totalitarians and believed by fools.
This means we cannot have growth because companies will not be able to hire new people
The low unemployment figures published by the labor department have factored out a huge number of employable people that supposedly "gave up" looking for work (according to labor.) The actual pool of available workers is much larger than what the unemployment number suggests. The is corroborated by the fact that wage growth has been modest despite the low unemployment rate; the pool isn't actually empty yet.
Removing people from the "work force" to improve the unemployment number was an obvious and widely criticized tactic during Obama's time. If this growth continues I predict that at some point the labor department will be forced to correct this and factor people back in, otherwise they'll end up with some absurdly low figure that is difficult to explain. We're getting close to that point now; the calculation is already making "record low unemployment rate" headlines. If it gets into the 3's or even lower there will be "ALL TIME RECORD" headlines at which point the jig will be up and everyone will be questioning the legitimacy of these figures if only because they'll make Trump look good.
Maw! Fire up the karma burner!
Well, it's the 86th month in a row of job-growth, and the whole "world economy is surging" to pick from a WaPo headline today.
Crediting an 11-month administration with 75 previous months of growth, and prosperity 10,000 miles away in economies not that interlocked with America's, would be a stretch.
The other 75 months are no great credit to Obama, either, as he was much-constrained from economic actions by Congress holding that "Power of the Purse". Recovery could have come faster, as up here in Canada, say. Whereas places with even *more* of the "austerity" than what the US Congress inflicted through sequestration and cuts to States, had the triple-dip recession...Britain for example.
But when you totally tank your economy through bank malfeasance (again, Canada never deregulated our banks, so none failed or needed bailouts), you can't help but have growth after while, no matter how badly you mismanage. Kids keep getting bigger; young people need homes, salaries have fallen painfully and labour is cheap. Money is even cheaper, since there's less to invest in.
"Growth" isn't always good. Sometimes is means "things fell really far and are really bad for a lot of people". Things are not remotely yet back to where they would have been if there'd been no bank collapse. A whole generation has had its early employment years sabotaged.
Trump's got very little done legislatively except for the corporation tax cut. More regulations have been repealed than have been passed
http://www.washingtonexaminer....
Which demonstrates that if you do little except cut taxes and deregulate, the US economy will tend to pick up speed.
And look at Apple. They've just paid Ireland what the EU demanded they pay, even though Ireland didn't want it
http://www.zdnet.com/google-am...
If the EU forces countries like Ireland to charge more tax, and Trump cuts corporate taxes in the US while bullying companies to invest, there's an argument that companies like Apple might decide to move some cash back. E.g. this sort of deal
http://www.businessinsider.com...
But even in this context, Apple backing a big manufacturing plant could be a significant political win for Trump. Foxconn's display plant could create 30,000 to 50,000 jobs in the US, The Wall Street Journal reported.
Apple has 80,000 US-based employees.
Where could Foxconn build factories in the US? It depends on which states give Foxconn the best incentives. Pennsylvania seems to be in the lead for either a "molding facility" or the display plant. A trade official from Pennsylvania was at Foxconn's holiday party, Nikkei reported.
"I have to tell other states to hurry up or we'll go ahead and sign with Pennsylvania," Gou said.
Tim Cook could virtue signal about how he's creating US jobs. Apple and Foxconn would get given an Ireland like tax deal by the state and federal government.
Purists will say this is rather unorthodox economics - basically Trump bulled Cook into doing it and arranged for tax breaks. Still that's the way business works, why shouldn't government?
echo -e 'global _start\n _start:\n mov eax, 2\n int 80h\n jmp _start' > a.asm; nasm a.asm -f elf; ld a.o -o a;
You know people have babies and they get older and enter the workforce eventually. Plus immigrants enter too. Opening the prison gates or kicking people out of the military will also change it. Open your mind a little.
Easy solution to participation and unemployment is just too lock up useless people or stick them in the military where they aren't counted. Oops you already have the biggest prison population in the world and a quite large military...wonder why...
Nope, voters with comfortable incomes vote that way. The rest vote as the GP suggested.
Have taxes already been cut?
Wow, sent an e-mail as suggested when clicking on "use classic" banner, and got a fast response that addressed my msg
So they don't publish U-8?
That's news to me.
Wow, sent an e-mail as suggested when clicking on "use classic" banner, and got a fast response that addressed my msg
It's passed the House and Senate, albeit in slightly different forms
http://www.businessinsider.com...
You don't need to actually cut taxes to affect confidence - if the perception in the markets is that they will fall that's enough to cause some change in mood.
And both the House and Senate bills cut corporation tax from 35% to 20%, though Trump suggested off the cuff it might only go to 22% to finance other cuts. Still even 35% to 22% is a pretty drastic cut.
The UK rate is 20% in 2016, falling to 18% in 2020.
https://www.gov.uk/government/...
This measure sets the Corporation Tax main rate for each year from the financial year beginning 1 April 2017 to the financial year beginning 1 April 2020, reducing the Corporation Tax main rate by 2% by 2020.
The Corporation Tax main rate for 1 April 2016 is set at 20%. The rate for 1 April 2017 is 19% and sets it at this rate for 1 April 2018 and 1 April 2019. The rate for 1 April 2020 is set at 18%.
Ireland is 12.5%
https://www.idaireland.com/inv...
But that's for trading income. Other rates apply for non trading, financial services, and manufacturing
https://en.wikipedia.org/wiki/...
The EU has declared Advance Tax Rulings of the sort Apple got illegal state aid.
Of course now the UK is leaving the EU, I'm sure it will offer the equivalent of Advance Tax rulings for companies like Apple on profits they move from somewhere else to the UK. I mean, if the UK would have got 0% tax otherwise, even 1% is an improvement.
echo -e 'global _start\n _start:\n mov eax, 2\n int 80h\n jmp _start' > a.asm; nasm a.asm -f elf; ld a.o -o a;
To be honest, reducing unemplyment rates by removal of long-term unemployed was a Republican invention. My son would come home from jr. high loaded with talking points about how Bush was hiding the real unemployment rate, which he could quote. It wasn't such a fun talking point as it grew and grew under Obama.
We need something like 230k new jobs a month to keep up with population growth, so this month is a bare minimum of health. We need better for years to chip away at it and induce long term (and NEET) back to work.
(-1: Post disagrees with my already-settled worldview) is not a valid mod option.
Did I not mention that we had a hard time finding someone who could and would fill the position?
When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
Sorry to burst your bubble of Canadian Exceptionalism, but Canadian Banks Got $114 Billion From Governments During Recession. this is data based on the Canadian Mortgage and Housing Corporation, and works out to $3400 per capita. This was tenfold the amount Canadian taxpayers spent on the auto industry bailout.
So, the likely tax cut is part of the multiple year trend?
I'm trying to follow.
And I'm sure England with get an apple office, but I'd bet pretty big they keep a bigger one in the EU.
Wow, sent an e-mail as suggested when clicking on "use classic" banner, and got a fast response that addressed my msg
I'm not sure what you are trying to get at.
There are entry level positions where I work that have gone unfilled for months in spite of (a) only needing a high school diploma (b) start immediately full time with benefits.
These arent exactly high paying jobs ($24K/year) but they beat minimum wage, are not labor intensive, the cost of living in quite low in the area ($10K/year apartments are not uncommon) and the company also offers free training and in-house hiring preference for a significantly higher paying unionized position (starting $60K/year) as they open up.
Benefits include health insurance, tuition reimbursements, and child care reimbursements.
These positions go unfilled for months on end. One entry level ($24K/year) department only has about 20% of the staff it should have, so a higher paid, unionized, department (%60K/year) is floating workers to pick up the slack.
This very real struggle to get workers isnt an anomaly. This is the new normal. The right price for the labor is demonstrably higher than $24K/year and demonstrably below $60K/year, and the company is paying on average somewhere 'tween the two.
I dont see retired people jumping on board for that insurance. I see nobody jumping on board for it.
"His name was James Damore."
So, the likely tax cut is part of the multiple year trend?
My point is that a 35% tax rate is grossly uncompetitive and encourages companies to structure their business to generate less profits in the US, e.g. by opening offices elsewhere. That of course leads to them paying less UK tax. 20% is more competitive.
And I'm sure England with get an apple office, but I'd bet pretty big they keep a bigger one in the EU.
Why? Once the UK leaves the EU it's unlikely the EU will put tariffs on UK exports. And even if they do the UK can put tariffs on EU exports to the UK. Since the UK buys more from the UK than it sells, and under WTO rules it is legal to use the tariffs you collect to pay your exporters' tariffs, that wouldn't matter.
And a UK Apple office wouldn't be exporting goods anyway. It'd do what the Irish Google office does. And outside the EU the UK can set taxes in its national interest, unlike Ireland which was forced to have a higher tax rate on Apple than it wanted.
And outside the EU the UK is free to sign trade agreements with non EU states. Like the US for example, which is the UK's largest export customer.
Add in the fact that the UK doesn't need to accept quotas of the migrants Merkel unilaterally admitted but instead can decide to admit the immigrants it needs and keep out those it does not and I'd say that the UK will be far better off outside the EU. Having control of taxes, tariffs, and immigration means you can decide on policies that are in your national interest not in the interests of France and Germany who basically run the EU.
echo -e 'global _start\n _start:\n mov eax, 2\n int 80h\n jmp _start' > a.asm; nasm a.asm -f elf; ld a.o -o a;
Others and I are still unemployed. I'm almost my year! :(
Ant(Dude) @ Quality Foraged Links (AQFL.net) & The Ant Farm (antfarm.ma.cx / antfarm.home.dhs.org).
"We are at full employment right now"
The "unemployment rate" is the fake, cooked number that both the Democrat establishment, and the Republican establishment have the labor department report to the public. It is essentially the number of people collecting unemployment benefits and thus excludes:
[1] those who have exhauseted their benefits and are now being denied
[2] those who worked jobs that made them ineligible to file (there are certain job situations where the employer is not required to pay in and the terminated cannot file)
[3] those who were let go by employers who claim they were "fired for cause" (often a scam where the employer is trying to avoid paying his share of the benefits, a crime rarely investigated/prosecuted)
[4] those who were self employed and saw their work dry-up because of market conditions
[5] those who could not find a job and gave up looking
Look at the "labor participation rate" to see the actual percent of the working-age public who are without jobs. The actual data shows about a third are currently not working - about a 30% unemployment rate. This would get a LOT more attention if the feds and the states were not handing out so many welfare benefits and therefore a lot more of the unemployed were less comfortable without jobs. All the welfare calms down a large part of the unemployed population and thus prevents riots and political mayhem.
Trump is right to brag about the unemployment rate being better under his admin because the press and all the other politicians use that number to portray people like the Bushes, Clintons, and Obama in a good light, making it a fair oranges-to-oranges comparison, BUT that number should NEVER be used to determine that we are "at full employment" which is the lie the business interests want it used for so they can scream for more cheap labor to be imported.
There has been tons of howling by billionaires and their multinational mega corporations that they need to import millions of additional cheap laborers (while they lay off tens of thousands of skilled tech workers).
The people running places like Google, Amazon, Facebook, Apple, and Microsoft have been widening the income and wealth gaps faster then ever before while simultaneously claiming they need to import cheap workers, outsource labor, have the schools re-jiggered to train ALL kids in STEM (so these skills are ubiquitious and therefore cheap) ...... and yet...... they simultaneously claim Americans are unwilling to work, and Trump is or is going to, destroy the economy and actions like pulling out of the PTT make it harder to create jobs.
Geek people like Cook, Bezos, Zuckerberg, etc have MADE this a "news for nerds" issue.
Thanks for that link!
To the news story about how that number is from a think-tank essay hotly disputed by the bankers assn and the Dept of Finance, both.
If loaning banks money (and making a few billion profit on it) , at a time when all the big American banks they would normally rely upon for liquidity are locked up, is a bailout, then every government is bailing all the time.
What company and location?
I prefer the "u" in honour as it seems to be missing these days.
https://qz.com/286213/the-char...
I prefer the "u" in honour as it seems to be missing these days.
Canada like Australia works in counter-cycles to most major developed world economies. Canada and Australia always do well when other economies are struggling, but Canada and Australia struggle when other economies are doing well.
That's why now the rest of the world is picking up the Canadian dollar has tanked again in recent years, whereas a few years back when everyone else was struggling the Canadian dollar passed parity with the US dollar.
You only have to look to the mid-90s for another example of this, when the rest of the world was thriving, Canada had to decimate public spending.
Unless the "rest of the world" was thriving and currencies tightly coupled to the price of oil were *all* doing poorly. The coupling of the Canadian dollar to the price of oil across 2014 and 2015 is a graph to review here.
even the U3 and U6 numbers are bogus beltway tripe.
The "retiring baby boomers" argument is more of that garbage; it does not properly account for the fact that many boomers are or have retired because they needed but could not find work so rather than retiring later as they planned they are instead retiring early.
Critical evidence for the recent loony-toons numberd the beltway has been pushing can be seen both in the number of people taking early retirement benefits from SSI and pensions, and also from the huge bubble of people filing for permanent disability (the desperate baby boomers ploy to get an early retirement when they have no funds to live on and have exhausted unemployment funds).
Again: the honest, ACTUAL unemployment rate is simply the percent of working-age people who lack a job. Government has refused to report THAT as the unemployemt rate for DECADES because the chamber of commerce sorts do not want to lose their arguments for cheap imported labor and outsourcing.
If you cling to the U3 and U6 numbers or the numbers pushed to and parroted by the press as "the unemployment rate" then you probably also buy the fraudulent "rate of inflation" that gets published as a way to suppress increses in SSI payments to seniors. The federal government specifically excludes all the stuff whose prices are more volatile from that equation (like food, heating oil, gasoline, etc) which is stuff seniors NEED and regularly BUY, but the include stuff most seniors do not buy because they already have them (like homes and cars) or no longer need them. The official inflation rate also leaves out the hidden inflation of companies selling less of something for the same price (like the shrinking boxes of cereal and czrtons of ice cream and margarine)
the data is from the Canadian Mortgage and Housing Corporation. it's a Crown Corporation of Canada that generates non-partisan data, and not a 'think tank'.