Topic: Jobs Numbers: Bogus
started by: Botto 82
Posted by Botto 82 on Oct. 15 2015,9:08 am
QUOTE
Depending on the moment the Federal Reserve Chair can be the most powerful person in the world. That title usually rests with the President of the United States, but on occasion it can shift to the Fed chair. Most people don’t know this. And right now it sounds like there is a bit of a leadership struggle at the Federal Reserve. There is open dissension in the ranks of the Federal Open Market Committee (FOMC). It is unusual to see this kind of conflict at the Fed played out publicly. What is going on?
Primarily the concern it seems is that though the employment rate keeps going down we are seeing little pressure on prices upward. According to standard (these days) economics full employment, and we are at 5% unemployment officially, should pressure price inflation. But it has not. Why?
Some believe, including your editor, that one of the main reasons this is the case is because the jobs number is basically bogus. It’s a political number. The reason the unemployment rate keeps going down is because people keep falling off the unemployment rolls. If one can no longer obtain unemployment payments because one has exhausted one’s allotment of payments one is no longer counted in the data. There are also many people who are employed but are being paid at lower rates than they were prior to the 2008 Crash.
Primarily the concern it seems is that though the employment rate keeps going down we are seeing little pressure on prices upward. According to standard (these days) economics full employment, and we are at 5% unemployment officially, should pressure price inflation. But it has not. Why?
Some believe, including your editor, that one of the main reasons this is the case is because the jobs number is basically bogus. It’s a political number. The reason the unemployment rate keeps going down is because people keep falling off the unemployment rolls. If one can no longer obtain unemployment payments because one has exhausted one’s allotment of payments one is no longer counted in the data. There are also many people who are employed but are being paid at lower rates than they were prior to the 2008 Crash.
< Article >
Posted by Liberal on Oct. 15 2015,9:40 am
How long have we known the baby boomers were going to effect the labor participation rate when they started hitting social security age?
Posted by Botto 82 on Oct. 15 2015,10:06 am
Most retirement-age Boomers I know are still working. Not many people can afford to retire at 65, because the economy is crap.
Posted by Self-Banished on Oct. 15 2015,12:51 pm
Posted by Botto 82 on Oct. 15 2015,12:58 pm
^Oh, I know. The post was more for the Hope and Change bumper sticker crowd. 
Posted by Self-Banished on Oct. 15 2015,2:30 pm
^^ I'd love to gloat a bit in this but, it's just too sad
Posted by mrugly on Oct. 15 2015,5:39 pm
What about our own city. 35 and 90 but where are the jobs? I'm thinking we should have more business because of 90 going to the east. 35 going north and south.
Posted by Self-Banished on Oct. 16 2015,4:21 am
(mrugly @ Oct. 15 2015,5:39 pm)
QUOTE
What about our own city. 35 and 90 but where are the jobs? I'm thinking we should have more business because of 90 going to the east. 35 going north and south.
I've questioned this for years, AL has superior logistics, freeways, railroads yet it seems stuck. Large companies like GM have considered AL over the years. Smaller ones like Mills and Aldi too yet it gets passed over like a retarded step child.
Posted by Expatriate on Oct. 16 2015,6:31 am
(mrugly @ Oct. 15 2015,5:39 pm)
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What about our own city. 35 and 90 but where are the jobs? I'm thinking we should have more business because of 90 going to the east. 35 going north and south.
It’s not so much Albert lea’s problem but a sign of the times in our Nation.
Our country's success was built on the productivity of our labor and the performance
of our schools as much as the number of missiles in our arsenal.
Trade Agreements should create jobs not offshore them for cheap labor and corporate
profit, there’s no way the American worker can compete with a fifty nine cent per hour labor rate!
It’s far past time we the American People stand in solidarity like our forefathers who fought the corporate fascists to unionize,
if they hadn’t found solidarity we’d be no more than the slave laborers of India, China or Vietnam!
I’m not against the Capitalist system, but it has to work for everyone or it will work for no one.
I’m not against trade, trade means jobs, fair and equitable trade creates jobs it doesn’t offshore them.
Jobs should mean a higher standard of living, a healthier economy and lowered deficit, the America of my youth before the Republicans took US down the path to destruction!
We need Bernie Sanders in the Presidency and as many like minded liberals in Congress as we can get!
Posted by Self-Banished on Oct. 16 2015,9:24 am
^^ Half-way through that tripe I had to stop and find a version of the "Battle Hymm of the Republic" to play as I read the rest of that tripe. Union's are a big contributor to our present day problems, pricing our labor out of the market, making our gov costs sky high etc.If anyone will save our economy it'll be the independents.
Posted by Expatriate on Oct. 16 2015,9:48 am
(Self-Banished @ Oct. 16 2015,9:24 am)
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If anyone will save our economy it'll be the independents.
Right, and that independent will be Bernie Sanders!
I love how all you tards classify yourselves as "independents"
when the Republican Party sh!ts on the working class!
Posted by ALAngst on Oct. 16 2015,9:52 am
(Self-Banished @ Oct. 16 2015,9:24 am)
QUOTE
Union's are a big contributor to our present day problems, pricing our labor out of the market, making our gov costs sky high etc.
If anyone will save our economy it'll be the independents.
If anyone will save our economy it'll be the independents.
Unions are down to 11% membership of the workplace and they're to blame for pricing labor out of the market?
Albert Lea says they have 200 unfulfilled jobs. Guess what the pay rates are? Compared to neighboring cities, there are better paying jobs in Rochester, Austin, Owatonna and Mankato. Then you read about the number of people living in Albert Lea that travel to other cities to work. Yet no one makes the coorelation.
Albert Lea, instead, through they new much-hyped Experience Albert Lea, thinks the way to promote and market the city is to have a great send-off for snowbirds leaving Albert Lea for the winter, who will tell everyone in their new location how great it is to live in Albert Lea and should relocate for the "warm" months.
I suppose it's easy to blame Obama. But the alternative was McCain and then Romney. The people rejected the Republican alternative, so the new blame had to be those who receive Democratic aid (which doesn't really explain why Alabama, Mississippi, etc. didn't vote Democratic). And now it's still Obama's fault with a Republican Senate and House, who cannot even nominate a new leader.
Posted by Self-Banished on Oct. 16 2015,10:16 am
(Expatriate @ Oct. 16 2015,9:48 am)
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(Self-Banished @ Oct. 16 2015,9:24 am)
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If anyone will save our economy it'll be the independents.
Right, and that independent will be Bernie Sanders!
Bullsh!t Bernie the socialist
Posted by Liberal on Oct. 16 2015,12:22 pm
(Botto 82 @ Oct. 15 2015,10:06 am)
QUOTE
Most retirement-age Boomers I know are still working. Not many people can afford to retire at 65, because the economy is crap.
Well I guess we should get rid of experts and consult local kooks to see what their personal experience is.
Since you appear incapable of educating yourself here are some links to read before heading back out with your sandwich board.
< https://www.google.com/search?...4YIKccE >
Posted by MADDOG on Oct. 16 2015,12:47 pm
(Botto 82 @ Oct. 15 2015,10:06 am)
QUOTE
Most retirement-age Boomers I know are still working. Not many people can afford to retire at 65, because the economy is crap.
Don't you just enjoy how much smarter and more educated others are than you?
Posted by Expatriate on Oct. 17 2015,7:46 am
(Self-Banished @ Oct. 16 2015,10:16 am)
QUOTE
(Expatriate @ Oct. 16 2015,9:48 am)
QUOTE
(Self-Banished @ Oct. 16 2015,9:24 am)
QUOTE
If anyone will save our economy it'll be the independents.
Right, and that independent will be Bernie Sanders!
Bullsh!t Bernie the socialist
Socialist as opposed to what, Corporate Socialism that exists in this country today?
It’s Socialism for Corporate America and Capitalism for the Working Class!
When our tax dollars subsidize employees of extremely profitable corporations you can’t call it Capitalism!
Your Republican Party has put US into to this mess with their anti-labor policy!
Posted by Self-Banished on Oct. 17 2015,9:08 am
^^ Nice "selfie" 
I
Posted by Expatriate on Oct. 17 2015,10:08 am
^^It's flattering you want to be my personal troll, unfortunatelyyou don't have the smarts for the job.
Posted by Botto 82 on Oct. 17 2015,11:27 am
Corporate Socialism. Hmmph. You need look no further than the new Vikings stadium for an example of that. The drones are being conditioned to believe this is okay now. Like when we bailed out the big banks. If their risky ventures pay off, the profits are theirs, no doubt ratholed away to some Cayman Islands account. But if their risky ventures should fail, now suddenly the rest of us are on the hook? If you're going to use bullsh!t and socialism in the same breath, maybe you should know what you're talking about. The kind of Socialism Sanders is talking about is the kind that was practiced by Eisenhower, back when we built roads and bridges and schools and things. Nobody's looking back on those days as some dark chapter in our drive towards Capitalism.
Posted by Self-Banished on Oct. 18 2015,7:38 am
Sure, let's go socialist Eisenhower had a gigantic advantage globally when WW2 ended, we were still at high tax rates, our manufacturing infrastructure was untouched and huge with the rest of the world in ruins. Pretty well stacked deck to go after more infrastructure.
We were the only game in town and a republican was smart enough to take advantage of that. Throw in the fact that we were springboarding out of a depression, it was a time in America that we'll probably never see again.
Now we're in a more level playing field and we're not used to it, we have to compete. The union dinosaurs that ruled the 50' and the 60's are no longer viable nor nessessary with labor laws and the presence of OSHA.
WE've become a dumping ground for all the other countries of the world's excess labor force, "no work here? Go park your ass in the US, they'll house and feed you till we need you". Truly a screwed up system.