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Keyword: unemployment

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  • So this is what 'full employment' looks like? [That's essentially what we have today]

    02/07/2016 7:29:45 AM PST · by SeekAndFind · 25 replies
    CNBC ^ | 02/07/2016 | Jeff Cox
    For more than seven years, Federal Reserve officials have touted their progress toward achieving "full employment," with the most recent target a 4.9 percent unemployment rate. With Friday's nonfarm payrolls report showing that the goal has been achieved, perhaps the Fed can raise the "Mission Accomplished" banner along with a welcome mat to the world of "full employment." The jobless rate last reached this level in February 2008, following a run from June 2005 to April 2008 during which unemployment never eclipsed 5 percent. Getting a "4-handle" on the number -- using Wall Street lingo -- was supposed to represent...
  • Obama Quips That New Low Unemployment Number Is 'Inconvenient' For Republican Candidates

    02/05/2016 1:25:44 PM PST · by Kaslin · 36 replies
    Townhall.com ^ | February 5, 2016 | Cortney O'Brien
    "Americans are working," President Obama proudly declared at a White House press conference Friday morning. He was referring to the new jobs report that revealed unemployment has dropped to 4.9 percent - the first time it's fallen below 5 percent in 8 years. The president also remarked on how his administration has added 14 million new jobs over his tenure and that over the past 6 months wages have risen at an impressive rate. He couldn't help pointing to falling gas prices as well. After gleefully sharing these new numbers, Obama quipped that the supposedly successful economy is "inconvenient" for...
  • Obama's Unemployment Sleight of Hand

    02/05/2016 1:41:51 PM PST · by Kaslin · 14 replies
    Townhall.com ^ | February 5, 2016 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: We have an audio sound bite here from Obama, the press conference I mentioned an hour ago. He went out there and he was praising his economy. He was heralding first-time unemployment rate as being under 5% for the first time in seven years. That's essentially since he took office. The first time. When have you ever heard that referred to: "The first-time unemployment rate is now at 4.9%"? What's that? Does anybody have any memory of hearing the unemployment rate referred to as "the first-time unemployment rate"? Well, there's a reason he said it. It's because...
  • Fun with numbers: The real story behind the 4.9% unemployment report

    02/06/2016 5:24:15 PM PST · by SeekAndFind · 13 replies
    American Thinker ^ | 02/06/2016 | Rick Moran
    On the surface, the January jobs numbers appear to be "not bad."  There were 151,000 jobs created, and the official unemployment rate dropped below 5%. But the story inside the numbers is really, really awful.  The Bureau of Labor Statistics calculates job creation and loss using two different measurements: the Current Population Survey and "Establishment" data from the Current Employment Statistics.  Usually, the two measurements are roughly the same.  But how do you explain this, BLS? Consider these BLS numbers based on household data. In January, there were 25,328,000 "foreign born" workers employed, a one-month drop of 98,000. In January, there...
  • Getting away with a bogus unemployment rate. Why?

    02/05/2016 3:08:27 PM PST · by From The Deer Stand · 39 replies
    Local | February 5, 2016 | From The Deer Stand
    The government (Obama administration) reported that only 151,000 jobs were created last month and that the unemployment rate DROPPED to 4.9%, the lowest in 10 years. We all know that is bogus as they don't count the millions who are unemployed but are not looking for work. How do they get away with giving out false information? Of course we know the main stream media won't challenge them but what about our pundits and politicians?
  • U.S. labor market on solid ground as jobless rate hits eight-year low

    02/05/2016 1:16:06 PM PST · by Rockitz · 16 replies
    Reuters via Yahoo ^ | February 5, 2016 | Lucia Mutikani
    WASHINGTON (Reuters) - U.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but rising wages and an unemployment rate at an eight-year low suggested the labor market recovery remains firm. Non-farm payrolls increased by 151,000 jobs and the unemployment rate slipped one-tenth of a percentage point to 4.9 percent, the lowest since February 2008, the Labor Department said on Friday. The payrolls gain was a sharp step-down from the average 231,000 jobs per month during the fourth quarter. "The fact that payroll gains fell back to earth is not necessarily...
  • Don't Show Trump This Chart: All U.S. Job Gains Since Dec. 2007 Have Gone To Foreign-Born Workers

    02/05/2016 8:59:34 AM PST · by SeekAndFind · 20 replies
    Zero Hedge ^ | 02/05/2016 | Tyler Durden
    With the Fed on the verge of a full relent and admission of policy error, the Fed's "data (in)dependent" monetary policy once again takes on secondary relevance as we progress into 2016. However, even with the overall job picture far less important, one aspect of the US jobs market is certain to take on an unprecedented importance. We first laid out what that is last September when we said that "the one chart that matters more than ever, has little to nothing to do with the Fed's monetary policy, but everything to do with the November 2016 presidential elections...
  • US added just 151k jobs in January; unemployment at 4.9%

    02/05/2016 8:18:58 AM PST · by SeekAndFind · 33 replies
    The U.S. economy added 151,000 jobs in January, a slowdown from recent months but still a sign of a solid job market. Employers raised pay, more people felt confident enough to look for work and the unemployment rate dipped to 4.9 percent, its lowest level since 2008. Friday's report from the Labor Department showed that the job market remains a vital support for an economy that is struggling in areas such as manufacturing and is facing weakness overseas. It provides a key piece of evidence for the Federal Reserve, which is weighing whether to raise interest rates again after lifting...
  • Sanders' Tax Hike to Cost 6 Million Jobs [semi-satire]

    01/30/2016 9:13:32 AM PST · by John Semmens
    Semi-News/Semi-Satire ^ | 31 Jan 2016 | John Semmens
    An analysis undertaken by the Tax Foundation estimates that the tax increases promised by Democratic presidential candidate Sen. Bernie Sanders (S-Vt) will cut economic growth by more than 9% and result in 6 million fewer full-time jobs. "Sanders' plan would significantly increase marginal tax rates on capital and labor income, which would result in a substantial reduction of the size of the U.S. economy in the long run," authors Alan Cole and Scott Greenberg asserted. Sanders' campaign manager Jeff Weaver pooh-poohed the report quoting economist John Maynard Keynes' observation that "in the long run we are all dead. At 74...
  • This Trend Is Not Your Friend - Initial Jobless Claims Average Surges To 10-Month Highs

    01/28/2016 8:42:28 AM PST · by SeekAndFind · 11 replies
    Zero Hedge ^ | 01/28/2016 | Tyler Durden
    Having surged to six-month highs, initial jobless claims dropped modestly on the week but the smoother 4-week average that is broadly used pushed to new cycle highs at 285k - the highest since March 2015 confirming The Fed's concerns over the economy. This is a trend that is certainly not the friend of Janet and her friends... but we are sure this is all just transitory.  
  • Why Do They Lie to Us Over and Over?

    01/22/2016 12:51:49 PM PST · by Sean_Anthony · 8 replies
    Canada Free Press ^ | 01/22/16 | Dr. Robert Owens
    The major media has morphed from a watchdog to a lapdog barking on cue that everything is all right, there's nothing to see here, move along Joseph Goebbels, Hitler’s Minister of Propaganda said, “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal...
  • US jobless claims jump to 7-month high

    01/21/2016 6:30:22 AM PST · by SeekAndFind · 10 replies
    New claims for US unemployment insurance benefits jumped to a seven-month high last week, the Labor Department reported Thursday. Initial jobless claims rose by 10,000 to 293,000 in the week ending January 16, the highest level since early July. But claims, a sign of the pace of layoffs, have remained below 300,000 since late February 2015 as the jobs market tightens. Analysts say volatility is typical in the first weeks of the year. The four-week moving average for claims rose by 6,500 to 285,000. A year ago it was 298,250. The US economy added 2.65 million jobs in 2015, the...
  • UN chief alarmed at prospect of rising global unemployment

    01/20/2016 9:29:46 PM PST · by Olog-hai · 11 replies
    Associated Press ^ | Jan 20, 2016 7:20 PM EST | Edith M. Lederer
    Secretary-General Ban Ki-moon's spokesman said Wednesday that projections for rising global unemployment over the next two years are "alarming" and the U.N. chief will keep pushing for job opportunities, especially for youth. The comments from deputy spokesman Farhan Haq were in response to a new report from the U.N. labor agency projecting that the number of unemployed people will increase by nearly 2.3 million in 2016 and 1.1 million in 2017 as a result of the global economic slowdown last year. Haq said Ban has been raising the need for new jobs in discussions with business leaders and others at...
  • Quitters Prosper:...allow workers who quit their jobs to collect unemployment insurance [tr]

    01/20/2016 7:20:52 AM PST · by C19fan · 21 replies
    Democracy: A Journal of Ideas ^ | January 11, 2016 | Nick Bunker
    Numbers from Friday’s jobs report underscores a persistent problem for the U.S. economy: Wages aren’t growing fast enough for most Americans. According to the data for December, the average wage for all workers grew at 2.5 percent over the last year, before accounting for inflation. Healthy wage growth would be somewhere in the range of 3.5-4 percent. How can we get to that level of wage growth? A number of proposals have been floated by economists and politicians across the political spectrum. But there’s one minor fix we can implement that could have major implications: allow workers who quit their...
  • Redo of a classic...unemployment figure manipulation

    01/17/2016 3:01:13 PM PST · by granite · 7 replies
    1/17/2016
    COSTELLO: I want to talk about the unemployment rate in America . ABBOTT: Good Subject. Terrible Times. It's 5.6%. COSTELLO: That many people are out of work? ABBOTT: No, that's 23%. COSTELLO: You just said 5.6%. ABBOTT: 5.6% Unemployed. COSTELLO: Right 5.6% out of work. ABBOTT: No, that's 23%. COSTELLO: Okay, so it's 23% unemployed. ABBOTT: No, that's 5.6%. COSTELLO: WAIT A MINUTE. Is it 5.6% or 23%? ABBOTT: 5.6% are unemployed. 23% are out of work. COSTELLO: If you are out of work you are unemployed. ABBOTT: No, Obama said you can't count the "Out of Work" as the...
  • Obama unveils plan to reform unemployment insurance [passing out $$ we don't have]

    01/17/2016 1:53:36 AM PST · by Cincinatus' Wife · 23 replies
    The Hill ^ | January 16, 2016 | Bradford Richardson
    President Obama on Saturday unveiled an unemployment insurance plan that he says will provide stability and opportunity to workers in a rapidly changing economy. The president's three-pronged plan includes wage insurance of up to $10,000 over two years, expanded unemployment insurance coverage and more opportunities for laid off workers to retrain and reenter the workforce. "If a hardworking American loses her job, regardless of what state she lives in, we should make sure she can get unemployment insurance and some help to retrain for her next job," Obama said in his weekly address. "It's a way to give families some...
  • US weekly jobless claims total 284,000 vs 275,000 estimate

    01/14/2016 7:22:53 AM PST · by mykroar · 6 replies
    CNBC.com ^ | 1/14/2016 | Reuters
    The number of Americans filing for unemployment benefits unexpectedly rose last week, but remained below levels associated with a healthy labor market. Initial claims for state unemployment benefits increased 7,000 to a seasonally adjusted 284,000 for the week ended Jan. 9, the Labor Department said on Thursday. The prior week's claims were unrevised.Still, it was the 45th consecutive week that claims remained below the 300,000 mark, which is associated with strong labor market conditions. That is the longest such stretch since the early 1970s. Economists polled by Reuters had forecast claims slipping to 275,000 in the latest week. The increase...
  • Goodbye Jobs, Hello 'Gigs': How One Word Sums Up A New Economic Reality

    01/12/2016 11:19:49 AM PST · by SeekAndFind · 24 replies
    NPR ^ | 01/12/2016 | GEOFF NUNBERG
    The obvious candidates for word of the year are the labels of the year's big stories -- new words like "microaggression" or resurgent ones like "refugees." But sometimes a big theme is captured in more subtle ways. So for my word of the year, I offer you the revival of "gig" as the name for a new economic order. It's the last chapter in the life of a little word that has tracked the rise and fall of the great American job. "Gig" goes back more than a century as musicians' slang for a date or engagement. Nobody's sure where...
  • This is The Last Hurrah For Job Growth

    01/11/2016 10:20:56 AM PST · by SeekAndFind · 6 replies
    RCM ^ | 01/10/2016 | By Louis Woodhill
    Friday's "Employment Situation" report from the Bureau of Labor Statistics (BLS) showed that December was a very good month for jobs. FTE* employment rose by 481,000. This complemented the unexpectedly large increase of 292,000 in payroll employment. Labor force participation edged upward in December, providing welcome relief from the relentless slide of this important indicator that has occurred during the Obama years. Unfortunately, December's numbers may very well be the last hurrah for jobs, as the economy slips into recession. It is worrisome that the Dow Jones Industrial Average fell by 2.23% during 2015, after rising during each of the...
  • Job Cuts at Macy's Signal Hard Times Ahead for Retailers: 4,800 layoffs after miserable holiday

    01/10/2016 6:09:11 AM PST · by SeekAndFind · 19 replies
    ABC News ^ | 01/10/2016
    Macy's is slashing jobs, a harbinger of hard times for retailers after a holiday season that saw a noticeable shift to online shopping and away from physical stores. The nation's largest department store chain, which also operates Bloomingdale's, said late Wednesday it is cutting up to 4,800 jobs and trimming its profit outlook after a miserable holiday season. "I think Macy's is likely to be a canary in a coal mine," said Ken Perkins, president of Retail Metrics, a retail research firm. He said retailers witnessed an acceleration of the shift toward online and mobile holiday spending in 2015. About...