Unemployment: Can We Give Obama Credit?

by James Denison Sep 4, 2015 1:33PM PDT

Remember, he took office January 2009.

Job Report Today

"The economy created just 173,000 new jobs last month. But the unemployment rate dipped to 5.1%, a bigger-than-expected drop -- and the lowest since April 2008, when the jobless rate was 5%, according to data from the U.S. Bureau of Labor Statistics. Wall Street economists were expecting 218,000 new jobs in August and the unemployment rate to decline to 5.2% from 5.3%.

In addition to the shrinking unemployment rate, job gains for July were revised up to 245,000 from 215,000, and June's job gains were bumped up by 14,000. The upward revisions added to initial reaction that this is a more positive jobs report than the disappointing headline jobs number might indicate."

I do wonder how many have dropped off the job hunt though, or did they come back at any time? Those aren't reflected in these figures. Also average wage movement isn't reflected either.

http://i.imgur.com/7vfPo7i.jpg

Discussion is locked

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Is there a "real" unemployment figure?

by James Denison Sep 4, 2015 1:58PM PDT

One that's different than the one being reported? One that's more accurate?

Where have all the workers gone?

Follow the line of job hunting disappointmentshttp://glenburniemd.net/CNET/LaborForceDropouts2014.png

If you add the amount who dropped out of even hunting for a job anymore to the reported unemployment figure, you end up with http://glenburniemd.net/CNET/8-3percent.pngUnemployment!

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When you have

by TONI H Sep 4, 2015 2:08PM PDT

a government that covers your housing, your food, your medical, your education, your phone, your 'caulking' requirements, and your part-time minimum wage amount, why bother even looking for anything since all your 'needs' are being met......

When the government again goes back to incentivizing the merits of work vs welfare by reducing/restricting the amounts and requirements, those 'out of the workforce' will show up again, like they did when the Republican Congress convinced BC to sign the welfare reform bill.

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You are assuming all these

by James Denison Sep 4, 2015 2:25PM PDT

are low wage low skill workers, or ditch diggers. What about all the citizen programmers set aside for H1B Indian immigrants taking their jobs, right after they finished training the person who was taking their job? That's just one example of white collar workers who have dropped out and then given up, because even their own government is working against them having a job.

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Labor Participation Rate Lowest Since Jimmy Carter Years

by James Denison Sep 4, 2015 2:19PM PDT

Lost rate in almost 40 years! This means a huge mass of people who have just given up on ever finding a job in the current labor market, at least a job that can use their skills or labor. Unfortunately some of those jobs are now overseas or down in Mexico or other countries to the south of us.

http://cnsnews.com/news/article/susan-jones/record-94031000-americans-not-labor-force-participation-rate-stuck-38-year

http://data.bls.gov/timeseries/LNS11300000

"The labor force participation rate stayed stuck at 62.6 percent, a 38-year low, for a third straight month in August, the Labor Department reported on Friday. "

This is now! Not some last year's figure, but as recent as August 2015!
There were in July 261,000 new people in potential labor force who are not looking for a job any more. Compare that to the so called 275,000 approximately jobs created in same period. How many jobs created, or is it instead how many jobs coming back on the market and replaced by others than those who gave up. How many of those were taken by illegal and even legal immigrants, instead of American Citizens?

I would say after considering all the main figures, that Obama's deliberate approach to transfer of wealth and jobs seems to be right on track!

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No blame and no credit

by Steven Haninger Sep 4, 2015 2:43PM PDT

I'm thinking Obama's legacy will be more about division, anger, hostility between the races and increased violence in our streets. He won his elections by slicing up the voting population into classes, creating animosities between them and courting just enough of them to win. Too much division and animosity remains and it will be a tough job pulling us all together again.

Unemployment: Can We Give Obama Credit?

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