Posted on 07/07/2017 8:12:10 AM PDT by Redmen4ever
Total nonfarm payroll employment increased by 222,000 in June, and the unemployment rate was little changed at 4.4 percent, the U.S. Bureau of Labor Statistics reported today.
(Excerpt) Read more at bls.gov ...
Unemployment seems to have flattened out among whites and Asians, in the 3 point something range. This may be full employment for the members of these groups.
Unemployment has been crashing among blacks and Hispanics. Among African Americans, unemployment has fallen from a recent high (October 2016) of 8.6 percent to 7.1 percent. Among Hispanics, from 6.4 percent (September 2016) to 4.8 percent. If we think full employment is in the range 4 to 6 percent, Hispanics are now in middle of that range. African Americans are not far from that range.
FURTHER decreases in unemployment will now have to come from extending opportunity to minorities and others traditionally "the last hired and first fired." Other increases in employment and production can come from: (1) moving people from part-time to full-time work, and (2) increasing labor force participation.
Unemployment methodology hasn’t changed. Numbers still phony-baloney. Direction is good, but actual is murky.
they also revised the numbers for April & May up- significantly...
“others traditionally ‘the last hired and first fired.’”
Would that include long-term jobless and other deemed less-ideal individuals?
Thanks setha.
Exactly. Following bad recessions, going back a long, long time, there were people who fell apart. Lost the will to live as a free, self-responsible person. And starting looking to escape, such as through alcoholism or qualifying for some kind of welfare program.
Being unemployed in the technical sense, means looking for work. So, these people still have hope. (Except maybe those who are simply saying they’re looking because they have to say this to remain qualified for welfare.)
Stopping looking - we call it dropping out of the labor force - means you’ve given up hope. This is as much a spiritual loss as an economic loss. The stabilization of the participation rate, and now maybe it’s going back up, is very, very good.
We have so many of our fellow Americans hurting. Suffering emotional scars from the war and the recession that have gone on, it seems, forever. It’s time to to invite them to rejoin us in being free and self-responsible.
https://www.youtube.com/watch?v=EC2yIwYCXNU
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