Skip to comments.The New Republic: Recovery Summer May Finally Have Arrived
Posted on 07/04/2014 5:48:29 AM PDT by SeekAndFindEdited on 07/04/2014 6:03:47 AM PDT by Admin Moderator. [history]
For the past few years, it was like clockwork: A disappointing summer of job growth would give way to a much stronger winter. Economists would hesitantly forecast that the economy was about to kick into second gear. Then the summer would come and the disappointing data would return. But finally, looks like we're ready to break that trend: The economy added 288,000 jobs in June, soundly beating economistsí expectations of 211,000, and the unemployment rate fell to 6.1 percent.
(Excerpt) Read more at newrepublic.com ...
What a crock!
Lots of people would rather not risk a business venture in times like this when success is questionable and they would rather not pay taxes on their risk.
"The Obama Pattern: Workforce Shrinks, So Unemployment Drops"
The total number of people who are seeking employment has been decimated in the Obama recovery, with a record-breaking 92,120,000 Americans who, by the BLSs definition, have dropped out of the labor force. That leaves the participation rate among working-age Americans stranded, for yet another month, at the lowest level its seen in four decades: 62.8 percent. The figure reflects a one-month increase in dropouts from the labor force of 111,000.
Yeah, a crock of shitte!
How accurate is this Shadow Stats and why are their numbers more reflective of the state of things than the DOL?
Yes, and I hear the wheat harvest is at an all time high, comrade!
Do even the slightest bit of journalism and you will see that there was a decrease of about 500,000 full time jobs and an increase of 800,000 part time jobs. The total number of jobs may have increased, but I wouldn't be surprised if the number of hours worked dropped.
Yeah, the economy added jobs, but they are not “career” positions. They are PART-TIME jobs. Under the magic number of 30 hours.
So these are benefit free jobs, and the attack on the middle-class continues, and the New Republic celebrates.
Sometime in August, they will have another article headlined “Recovery Summer Unexpectedly Fails to Materialize”
Your post always seem to be this kind of “blue sky” crap that says the economy, stock market, employment are on the rebound and all is great with the economy. Why is that?
Yeah, if you want a minimum-wage, part-time job, where your days and hours are different from week to week, preventing you from getting another part-time job.
Because of Obamacare and a slow economy business had to lay-off and cut-back hours to part-time previously full-time workers. Then, because they still had a labor need they hired 2 part time people to replace each full time employee they let-go/forced into part-time.
Only the left could spin losing full-time employment forcing Americans into taking multiple part-time jobs as a good thing...
The temptation is to consider a homogenized economy. That is not the case.
Many poo poo the articles and talk of growth or at least some indication of normalization.
Here in upper east Tennessee, things are pretty good. The primary industry announced a $1.2 billion investment locally to expand and update production capacity. Other manufacturers are running full tilt and with the restraints of caution imposed several years ago are caught between the need to increase employment and the fear of Obamacare, recession. Houses continue to sell and some builders have resumed construction.
Meanwhile, retail growth put on hold is booming with the construction of three very large totally new retail centers currently under construction.
We live in a conservative region with almost no union or leftwing baggage. Our local governments compete actively to be a positive factor in employment facilitation and growth.
RE: Your post always seem to be this kind of blue sky crap that says the economy, stock market, employment are on the rebound and all is great with the economy. Why is that?
In order to hear your refutations. GO AT IT.
They’re still pissing down our collective backs, and telling us that it’s raining.
this seems like it would take away to guessing game.
I believe both parties are to blame.
EVERYONE is sending jobs to other countries.
Americans are sending jobs elsewhere. to make things cheaper. Yet all of the lost jobs, lose something else.
America needs to make things, right here in America. Our trade situation is now critical.
Bring back American manufacturing.
I've done very well, BTW, by following the advice based on Shadow Stats figures over government figures:
Have you ever wondered why the CPI, GDP and employment numbers run counter to your personal and business experiences? The problem lies in biased and often-manipulated government reporting.
The first regular reporting of now-popular statistics such as gross national/domestic product (GNP/GDP), unemployment and the consumer price index (CPI) began in the decade following World War II. Modern political manipulation of the government's economic data began as soon as practicable thereafter, with revisions to methodology often incorporating positive reporting biases. As a result, investors and most economists, relying on the government's data, often miss underlying economic reality.
June 2014 report: July 3rd, 2014
Payroll Gains Were Bloated by Seasonal-Factor Shenanigans; Unemployment Numbers Remained Inconsistent, Not Comparable Month-to-Month
June Unemployment: 6.1% (U.3), 12.1% (U.6), 23.1% (ShadowStats)
Economy Remains in Serious Trouble
Trade Deficit Should Hammer Second-Quarter 2014 GDP, Subtracting In Excess of 1.0% from Initial Headline Growth Estimate
Revisions to Real Construction Spending Showed Further Downside to First-Quarter GDP; May Detail Suggested a Negative Contribution to Second-Quarter GDP Growth
IWO, the government as a long history of lying to us about everything, especially economic data. I don't believe a word they tell us when it comes to the economy.
Unfortunately, a lot of Shadow Stats is behind a subscription wall, but the financial guys I listen to can access that information and use it for their forecasts and other financial advice.
Hope that helps.
None of your own ever though, that seems odd.
I heard someone from Veteran services on the radio the other day - he said the jobs being offered to returning vets were part-time and paid $10 or less an hour.
But the government says “there are plenty of jobs out there” - sure, but not jobs one can support a family, or even oneself on.
All they did was hire illegals...part time. Big deal.
I remember when Bush was attacked for this same thing, low wage jobs. What hypocrisy coming from the left.
I heard a reporter on the radio that was practically gushing over the better than expected employment sats from the ministry of propaganda. It seems like “things are not as bad as they used to be” is now a cause for wild celebration!
but unclear if [its a matter of] finding employment or just dropping out of the labor market.
IMO it's OK for them to publish their opinions as news if the bastards would just admit their bias -- like in the old days of multiple newspapers in each city before TV.
For me the best indicator of the state of the economy would be per capita income tax receipts. That would be normalized for both population growth and under-employment.
Recovery Summer will be in 2017 when the Commie pink fag is removed from the WH.
Not if sHrillary or Fauxcahontas take his place it won’t.
RE: Bring back American manufacturing.
I was wondering where you went... it took 20 posts to find you :)
Nope, this time it was the massive switch to part time jobs. Actually, there was a decrease in full time employment. The Participation rate stayed the same.
Did folks forget about the crappy durable goods orders, the near -3% CONTRACTION in the quarterly GDP numbers leading into the slowest qtr of the year...the summer?
Fact is, the gubbamint is massaging the numbers to pretty up data leading into the fall elections.
It is terrible that we cannot believe a damn word our own gubbamint publishes.
It’s pretty sad when advocating for American jobs, is a minority position.
RE: Its pretty sad when advocating for American jobs, is a minority position.
Your position is SUPPORTED by everyone, it’s how you go about doing it that people question.
Must be since none of their friends are hurting.
The left’s headlines are now just delusional. Other worldly
I couldn’t get to the article without an account, so I have a question. Did the article mention that 799,000 of those 288,000 jobs were part time? Or that 523,000 full time jobs (most with bennies) were lost?
Well actually I get a pretty good amount of support in emails.
All I am saying is, we gave away American manufacturing. I actually understand why it happened, but things are much much different now.
We run a MASSIVE trade deficit now.
That is not at all good, for the future. We need to get back to supporting America.
I suppose at this point any mention of the true unemployment rate of over 15% and the convoluted lying that calls it six per cent would just be piling on.