Snake Posted June 4, 2016 Share Posted June 4, 2016 Despite a forecast of 160,000 new jobs, the Obama Department of Labor announced that job creation in May plunged to 38,000, the worst monthly performance in 6 years. The May jobs report issued on June 3 came in at 76 percent worse than the Bloomberg average of estimates by 90 Wall Street economists. The addition of just 38,000 workers is the lowest jobs number since September 2010, and is a huge dive from the 123,000 new jobs generated in April. In a statistical fluke, the U.S. unemployment rate declined by 0.3 percentage points, to 4.7 percent in May, as frustrated American workers gave up trying to find jobs and dropped out of the labor force. The total number of Americans not in the labor force also hit a new high, at 94,708,000. The terrible economic performance tanked the foreign exchange rate of the U.S. dollar by almost one percent. The stock market, which was up about one half percent in pre-opening trading, tanked a full percent after the employment news. Employers in May added the fewest number of workers in almost six years, reflecting broad cutbacks that may raise concern about U.S. growth and prompt Federal Reserve policy makers to put off an increase in interest rates. U.S. annual GDP growth had decelerated from a positive 1.4 percent in the October through December 2015 fourth quarter to just 0.8 percent in the first quarter of 2016. But Wall Street analysts had expected a strong rebound to 1.8 percent for the April through June period. Now, with weak May employment numbers, analysts will slash growth estimates. The U.S. Federal Reserve will see puny employment gains as reducing the odds of an upturn in household spending and economic growth after the poor start to the year. With the central bank tightening up its balance sheet in anticipation of starting a cycle of raising interest rates by July, the value of the U.S. dollar had been strengthening. Chicago Fed President Charles Evans told CNBC on June 2, “Two rate hikes in 2016, that’s my own call for that, if the data continues to be in line with my outlook.” A week earlier, Fed Governor Jerome Powell, in a speech to the Peterson Institute for International Economics, stated that economic data in April seemed to support the Federal Reserve raising interest rates. He suggested that inflation may be picking up with durable goods orders rising at a 3.4 percent annual rate, pending home sales hitting new highs and the price of oil jumping to $50 a barrel. The range of estimates by economists surveyed by Bloomberg for the June 3 DOL was 90,000 to 215,000 jobs. The shocking 38,000 May number was also accompanied by grim revisions from the Department of Labor to the prior two months’ reports, which subtracted another 59,000 jobs from payrolls. The hiring stall was broad-based, including slowdowns in construction and manufacturing. Factories cut employment for the third time in the last four months, while construction companies shed 15,000 jobs. The number of Americans working part-time, because they cannot find a full-time position for “economic reasons,” spiked by 400,000 to 6.4 million in May, the highest since rate since August 2015. http://www.breitbart.com/big-government/2016/06/03/obamas-jobs-report-worst-6-years/ Quote Link to comment Share on other sites More sharing options...
f7ben Posted June 4, 2016 Share Posted June 4, 2016 it will get revised upward after the next fed meeting Quote Link to comment Share on other sites More sharing options...
Anler Posted June 4, 2016 Share Posted June 4, 2016 Fucking Obama! Quote Link to comment Share on other sites More sharing options...
oleroule Posted June 4, 2016 Share Posted June 4, 2016 8 minutes ago, f7ben said: it will get revised upward after the next fed meeting even a 50% bump is still shit Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted June 4, 2016 Share Posted June 4, 2016 3 hours ago, f7ben said: it will get revised upward after the next fed meeting March and April were strong months as was the past two years, I don't see any surprise in a one month turn down especially when there is only 7.4 million unemployed and the unemployment rate droppdd .3% to 4.7%, the other good news in the job report is that wages are up 2.5%. http://www.bls.gov/news.release/pdf/empsit.pdf Quote Link to comment Share on other sites More sharing options...
oleroule Posted June 4, 2016 Share Posted June 4, 2016 52 minutes ago, Mileage Psycho said: March and April were strong months as was the past two years, I don't see any surprise in a one month turn down especially when there is only 7.4 million unemployed and the unemployment rate droppdd .3% to 4.7%, the other good news in the job report is that wages are up 2.5%. http://www.bls.gov/news.release/pdf/empsit.pdf ummmmm.... Record 94,708,000 Americans Not in Labor Force http://www.cnsnews.com/news/article/susan-jones/record-94708000-americans-not-labor-force-participation-rate-drops Quote Link to comment Share on other sites More sharing options...
Ebsell Posted June 4, 2016 Share Posted June 4, 2016 15 minutes ago, oleroule said: ummmmm.... Record 94,708,000 Americans Not in Labor Force http://www.cnsnews.com/news/article/susan-jones/record-94708000-americans-not-labor-force-participation-rate-drops What kind of hack piece is that that's about 30% of the population. They counting children as unemployed now lol 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted June 4, 2016 Share Posted June 4, 2016 5 minutes ago, Ebsell said: What kind of hack piece is that that's about 30% of the population. They counting children as unemployed now lol Children and seniors. Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted June 4, 2016 Share Posted June 4, 2016 51 minutes ago, oleroule said: ummmmm.... Record 94,708,000 Americans Not in Labor Force http://www.cnsnews.com/news/article/susan-jones/record-94708000-americans-not-labor-force-participation-rate-drops You read propaganda, I read the actual report Quote In May, the unemployment rate declined by 0.3 percentage point to 4.7 percent, and the number of unemployed persons declined by 484,000 to 7.4 million. Both measures had shown little movement from August to April. (See table A-1.) http://www.bls.gov/news.release/pdf/empsit.pdf Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted June 4, 2016 Platinum Contributing Member Share Posted June 4, 2016 Obama for the mother fucking win. Even the union delivery boy is still employed and Ole Drule is one of the 94,000,000 not in the labor force. Quote Link to comment Share on other sites More sharing options...
oleroule Posted June 4, 2016 Share Posted June 4, 2016 1 hour ago, Mileage Psycho said: You read propaganda, I read the actual report feel better? http://data.bls.gov/timeseries/LNS15000000 Quote Link to comment Share on other sites More sharing options...
Ebsell Posted June 4, 2016 Share Posted June 4, 2016 3 minutes ago, oleroule said: feel better? http://data.bls.gov/timeseries/LNS15000000 It don't mean shit because it includes kids and people who are retired. How fucking bogus can it be Quote Link to comment Share on other sites More sharing options...
Snake Posted June 4, 2016 Author Share Posted June 4, 2016 2 hours ago, Mileage Psycho said: In May, the unemployment rate declined by 0.3 percentage point to 4.7 percent, and the number of unemployed persons declined by 484,000 to 7.4 million. Both measures had shown little movement from August to April. (See table A-1.) http://www.bls.gov/news.release/pdf/empsit.pdf The Labor Department reported that the U.S. economy added only 38,000 jobs in May, the lowest amount in five years. The unemployment rate fell to 4.7% from 5%, mainly because about half a million unemployed people stopped looking for work. http://www.latimes.com/business/la-fi-financial-markets-20160603-snap-story.html 'The number of unemployed persons dropped by.................................................. because they gave up looking for work. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted June 5, 2016 Platinum Contributing Member Share Posted June 5, 2016 Was the economy better in 2008 Union Delivery Boy? . Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted June 5, 2016 Share Posted June 5, 2016 2 minutes ago, SnowRider said: Was the economy better in 2008 Union Delivery Boy? . So SR tell me how you feel about my idea to make Mexico the 51st state..if you would. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted June 5, 2016 Platinum Contributing Member Share Posted June 5, 2016 3 minutes ago, Capt.Storm said: So SR tell me how you feel about my idea to make Mexico the 51st state..if you would. Why? What are the advantages? Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted June 5, 2016 Share Posted June 5, 2016 Saves all kind of headaches..no wall to build ..and they would still get through anyways. Won't have to pay all those border people . Plenty of strong cheap labor . And maybe..just maybe we all could get a long better. I ask you why not? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted June 5, 2016 Platinum Contributing Member Share Posted June 5, 2016 7 minutes ago, Capt.Storm said: Saves all kind of headaches..no wall to build ..and they would still get through anyways. Won't have to pay all those border people . Plenty of strong cheap labor . And maybe..just maybe we all could get a long better. I ask you why not? No. I'm in facor of lifting people up. Raising the bar. Not lowering it as you're implying. Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted June 5, 2016 Share Posted June 5, 2016 I'm lost. Would not making Mexico the 51st state raise them up? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted June 5, 2016 Platinum Contributing Member Share Posted June 5, 2016 1 minute ago, Capt.Storm said: I'm lost. Would not making Mexico the 51st state raise them up? Not when one of your benefits is fhe abundance of cheap labor. Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted June 5, 2016 Share Posted June 5, 2016 (edited) Well they are mostly looking for work...win-win right? And besides the cheap part won't last long. Mexicans that used to pick apples for me made 5-600 a week 10 years ago if they were hard workers and most were. Edited June 5, 2016 by Capt.Storm Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted June 5, 2016 Platinum Contributing Member Share Posted June 5, 2016 Just now, Capt.Storm said: Well they are mostly looking for work...win-win right? And besides the cheap part won't last long. Mecians that used to pick apples for me made 5-600 a week 10 years ago if they were hard workers and most were. Ask yourself:. Do the advantages you listed outweigh the negatives....SS, Medicare, Education, Resources....but I could be a Dick and say lets do it because there are millions more D's south of the border . The R's would never get elected again Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted June 5, 2016 Share Posted June 5, 2016 Just now, SnowRider said: Ask yourself:. Do the advantages you listed outweigh the negatives....SS, Medicare, Education, Resources... I think so in the long run. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member SnowRider Posted June 5, 2016 Platinum Contributing Member Share Posted June 5, 2016 Just now, Capt.Storm said: I think so in the long run. You do realize the D's would be permanently in power.... Quote Link to comment Share on other sites More sharing options...
Capt.Storm Posted June 5, 2016 Share Posted June 5, 2016 I think the best way to beat segregation is to unite. Sound reasonable to you? Quote Link to comment Share on other sites More sharing options...
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