Posted on 05/05/2017 5:36:55 AM PDT by John W
US added 211,000 jobs in April, unemployment rate fell to 10-year low of 4.4 percent.
(Excerpt) Read more at abcnews.go.com ...
Don’t see how the new administration can be anything but absolutely great for business, commerce, you name it.
Strange isn't it? /s
What’s the U6 rate?
What’s the number now for those who have dropped out of the workforce?
When will the unemployment rate go back to being accurately stated, like it was before obama started lying about it?
About one year after Trump is president. Then, the liberal mediots and Never Trumpsters will scream, “We told you so. Trump is a failure!”
Labor Force Participation rate fell though which is the real unemployment number. It means less people paying into FICA which means the Gub’ment must create even more fake digital money to make up the difference. Not good.
That BS started waaay before Obama. The Gub'ment been lyin' to us for decades.
I too am seeing tons of help wanted or Hiring signs
I have posted about in our area, how basically every big store from Walmart to Home Depot to Safeway has big signs at the entrances and exits asking people to join their teams. Every good restaurant and fast food outlet has signs asking people to apply.
Comcast, Direct TV, Verizon, AT&T and PG&E are advertising for full time workers.
My wife and I have both been offered jobs by store managers and we are in our late 70’s. My wife said that shows how desperate they are for new hires.
One grandchild has a great part time job. Her boss told her that after she finishes her high school this month. She can work 40+ hours a week until she starts college in late August. Her 16 year old brother has a choice of jobs this summer.
The one down side: Some our younger relatives have positions of hiring employees. They told their bosses to raise salaries or they will lose people working for them. That is starting to happen.
Yep - but if he were to go back to the pre-Obama way of reckoning, he would be castigated for "Ruining the economy" despite the improvements bases on his EOs to date and speculation that things will make great leaps in the right direction as he proceeds with his agenda.
The same Dems that wailed and gnashed their teeth, when Rush said he hopes Obama fails, know that they must stop Trump if their Party is to have any chance of surviving.
IMO what his admin ought to do is stress the U6 and push the difference in U6 over previous years.
I hate the mantra “It’s the economy, stupid” but a strong economy could really help the GOP in the 2018 mid-terms.
Agree the # hired excellent news unemployed however is completely bogus.
SOURCE: http://hotair.com/archives/2017/05/05/april-jobs-report-211000-jobs-added-jobless-rate-4-4/
and here:
https://www.bls.gov/news.release/pdf/empsit.pdf
While participation rates didn’t change much, it does appear that workers transitioned from part-time to full-time work in greater numbers. That follows a year-long trend away from part-time employment:
The labor force participation rate, at 62.9 percent, changed little in April and has shown little movement over the past year. The employment-population ratio, at 60.2 percent, was also little changed over the month but was up by 0.5 percentage point since December. (See table A-1.)
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) declined by 281,000 to 5.3 million in April. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find full-time jobs. Over the past 12 months, the number of persons employed part time for economic reasons has decreased by 698,000. (See table A-8.)
The official jobless rate (U-3) declined to 4.4%, its best showing in exactly ten years, but it’s a measure which is difficult to compare because of the change in composition of the work force. The U-6 rate, which compensates somewhat for those changes as well as counts underemployment, dropped significantly in April to 8.6%, the best reading since November 2007, just before the initial recession that led to the Great Recession.
Most of the job growth in April came in the service sectors. Goods-producing sectors only added 21,000 jobs, 10K of which came in mining and logging. The leisure and hospitality sector got the biggest boost, adding 55,000 jobs, with education and health services coming in second at 41,000. Hours and earnings also ticked upward, with the weekly earnings average rising five dollars, which is a positive sign if not particularly overwhelming in its impact.
Overall, this looks like pretty good news, but not spectacular and probably not a sign of a coming boom — yet, anyway. Excluding the big miss in March, it’s the weakest report in 2017 by a slight amount, and not a large amount over the maintenance rate for population growth (~125-150K). It’s certainly better than last month, and better than the last quarter of 2016, but it’s not gangbusters. It’s basically the status quo over the last two years
It is a move in the right direction and the economy is often as much about momentum and sentiment as it is about hard numbers. If Trump can get the tax cuts the economy is primed for a decent boom period that should lift other markets that are lagging. At some point, I am hoping he will address the budget in a meaningful way, but it is pretty clear from listening to his team that the first goal is to get the economy going again.
Who wants to buy my bridge?
“U6 at 8.7%”
the REAL unemployment rate. need to get that down to 5%.
I’m never gonna get tired of winning.
As LS said in post #7, that is the U-6 number. I went back and checked the monthly data on U-6. The 8.1% reported is the lowest that the U-6 has been since August of 2001!! That tells me that the media is hiding a hiring frenzy that has been taking place since Trump was elected.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.