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It's 'Disturbing' How Fast The Unemployment Rate Is Falling
BI ^ | 2-7-2014 | Rob Wile

Posted on 02/07/2014 12:07:28 PM PST by blam

It's 'Disturbing' How Fast The Unemployment Rate Is Falling

Rob Wile
Feb. 7, 2014, 10:50 AM

Yikes.

The unemployment rate is falling really fast.

This morning, we learned it had declined to 6.6% — the 23rd-straight month without an increase. As Brooking's and UMichigan's Justin Wolfers observes, the rate has dropped 1.3% over the past year — an insane acceleration from 2012's decline of just 0.3%.

"Only three other times in the past six decades has the unemployment rate fallen this far this fast: in the early 1950s, when growth averaged 6.7% per annum; in the late 1970s when GDP growth averaged 4.8%, and in the mid-1980s when growth averaged 5.2%," said Gluskin Sheff's David Rosenberg to the U.S. Senate Budget Committee earlier this week.

In those other three instances, growth was robust. This time around, he says, we should probably be concerned about what's causing the plunge.

"Today we accomplished this feat with only 2.4% growth which is disturbing because it means that it is not taking much in the way of incremental economic activity to drain valuable resources out of the labor market," Rosenberg continued.

(snip)

(snip)

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: economy; employment; jobs; unemployment; unemploymentgraph
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To: blam

41 posted on 02/07/2014 1:46:58 PM PST by Straight Vermonter (Posting from deep behind the Maple Curtain)
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To: blam

The difference, of course, is that in past recoveries, people moved back into the labor market as unemployment fell, reducing the drop in unemployment. People are still dropping out of the labor market now.


42 posted on 02/07/2014 1:48:05 PM PST by dangus
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To: clamper1797
They simply ran out of unemployment benefits and are no longer counted as unemployed even though they are.

That is not how people are counted as unemployed.

http://www.bls.gov/cps/cps_htgm.htm#unemployed

43 posted on 02/07/2014 1:49:35 PM PST by Straight Vermonter (Posting from deep behind the Maple Curtain)
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To: skeeter

Ya think? I agree with you. It’s all a great big sham.

We have close to 25% of our workforce sitting idle, and they have the nerve to claim we have 6 something unemployment.

Why don’t the Republicans make a big stink out of that? There’s so much fertile ground here and they act as if explaining what Obama isn’t doing, is going to cost them.

I’d start coming up with full employment legislation, and dare the idiot to refuse to sign it. That’s how you set up victory. Our clowns prove over and over that they’re just that.

When have we had more fertile grounds for contrasting the Republican party as better than the Democrats on program after program.

Boehner can’t think of one program to highlight in that manner.

Instead he’s stuck on proving both parties want the same exact ill-advised things.

(Steam coming out of my ears...)


44 posted on 02/07/2014 1:50:56 PM PST by DoughtyOne (Amnesty is job NONE! It isn't even the leading issue with Hipanics.)
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To: blam

And the market made gains on the basis of this phony report!


45 posted on 02/07/2014 1:53:37 PM PST by fortheDeclaration (Pr 14:34 Righteousness exalteth a nation:but sin is a reproach to any people)
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To: blam
Simple Communist calculation.

Similar to: It is not who votes that count but who counts the vote. One of those great Marxists said something like that.

46 posted on 02/07/2014 1:55:35 PM PST by mosaicwolf (Strength and Honor)
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To: clamper1797

Yes. That always gets me.

How do you give up looking for a job? I mean, does one decide to live in boxes and give up eating instead?


47 posted on 02/07/2014 2:02:47 PM PST by Age of Reason
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To: blam

Ahhhhbulllllchit!


48 posted on 02/07/2014 2:04:27 PM PST by Sequoyah101
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To: blam
Wow. All these unemployed getting new, full time, well-paying, satisfying jobs!

Man, oh, man, is this economy roaring along, or what!!??

There's so much economic gravy floating around here we should probably import about 30 million or so more illiterate immigrants so they can take up all the slack in all those extra jobs nobody wants or needs. Great idea. What could be better then that?

Our jobs machine can fuel the world!

49 posted on 02/07/2014 2:23:21 PM PST by Gritty (Inside every liberal is a totalitarian screaming to get out! - David Horowitz)
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To: clamper1797

Yep. Anyone who doesn’t continue to check in with the state Employment Development Department (here in CA anyway) after their unemployment runs out is counted as not looking anymore. Why would they?


50 posted on 02/07/2014 2:42:28 PM PST by Hugin
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To: F15Eagle

Figures don’t lie, but liars figure.


51 posted on 02/07/2014 2:43:57 PM PST by Hugin
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To: clamper1797

I know guys who have gone off the grid. They work for cash, netting more money than when they were employed. I can only guess about their taxes.


52 posted on 02/07/2014 2:46:52 PM PST by gitmo (If your theology doesn't become your biography, what good is)
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To: DoughtyOne
25% of our workforce sitting idle and rather than beating the administration over the head with it the GOP is holding 'retreats' discussing amnesty for 20 million illiterate illegal aliens.

The GOP is as shot thru with corruption as are the democrats.

Treason might not be a strong enough word.

53 posted on 02/07/2014 3:00:13 PM PST by skeeter
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To: skeeter

I honestly don’t get it. I doubt Prebus (sp?) actually wants to help the Democrats or the Left. I don’t think Boehner does either. Mitch McConnell, I’m not convinced any of these folks see themselves as sellouts. And yet, that’s just what I think they are.

They are worse than worthless to us, because they short-circuit everything.


54 posted on 02/07/2014 3:03:56 PM PST by DoughtyOne (Amnesty is job NONE! It isn't even the leading issue with Hipanics.)
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To: Paine in the Neck

I had an interview this morning and actually have a few other prospects that just came up in the past couple days, so maybe I’ll go from being part of the unemployed statistics to being part of the workforce again soon. No help to 0bama or any other government official.

For the record, the interview this morning was for a job in the foreclosure industry. Evidently, that’s picking up again. Another great sign of a super-de-duper healthy economy.


55 posted on 02/07/2014 3:05:31 PM PST by Two Kids' Dad (((( 0bama's words are the distraction to the destruction ))))
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To: E. Pluribus Unum

Isn’t it just fabulous how the unemployment rate goes down exactly one tenth every month. What are the odds?


56 posted on 02/07/2014 3:05:42 PM PST by ez (Muslims do not play well with others.)
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To: Paine in the Neck

wow. Another hockey stick. Just start that in 2007.


57 posted on 02/07/2014 3:11:35 PM PST by pas
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To: All
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58 posted on 02/07/2014 3:13:12 PM PST by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Hugin

CalJobs is a joke anyway. Temp agencies call up and offer 40-hour a week jobs paying roughly what an unemployment check delivers. Why would any sane person want to work 40 hours for essentially nothing when they can use those hours to try to find a real job that pays what the individual is worth?


59 posted on 02/07/2014 3:27:35 PM PST by Two Kids' Dad (((( 0bama's words are the distraction to the destruction ))))
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To: blam

60 posted on 02/09/2014 7:59:00 AM PST by Grampa Dave ( Obamacare is a Trinity of Lies! Obamaganda is failing 24/7/365! ObamaCare will fail 24/7/365!)
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