Posted on 02/07/2016 7:29:45 AM PST by SeekAndFind
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 jobs nirvana, the point at which the Fed finally would be able to declare victory and meaningfully begin to roll back its excessive easing programs that began in 2008.
But with the 5 percent goal line crossed, the jobs market remains a riddle. Consistent job creation has come with less robust gains in wages, and a seemingly positive report in most aspects was greeted with a strong sell-off on Wall Street.
In short, it was supposed to feel better than this.
Government numbers "don't show the quality of the jobs. They don't obviously pick up the anxiety that workers are feeling," said Joseph LaVorgna, chief U.S. economist at Deutsche Bank. Concerns over job security, particularly about being displaced by technology disruptors, "may also be adding to economic jitters and uncertainties," he added. LaVorgna said he believes the economy actually is near full employment, though it doesn't seem that way to many in and out of the labor force.
(Excerpt) Read more at cnbc.com ...
An old saying, figures don’t lie, but liars figure.
70 to 100 million out of work is “Full Employment” in Obama’s fantasy land. Amazing!
If we make all the jobs half-time, we’d be at 0% unemployment in no time!
If that didn’t work, make them all 1/4 time jobs!
Even the MSM knows the job numbers are hogwash, but they gotta keep the conversation in a constant spin cycle.
Maybe, according to the 0bama regime's fairy tale figures.
I suppose they're designed to help The Beast in her quest to carry on caliph 0bama's policies, but even the moronic dems should know that they are a fraud. Then again, maybe not.
And according to this government table 38% of the labo force is not working.
Smoke and Mirrors!! When there is over 90 million people not working plus most of the jobs are on the non-productive work filed and most of them are part time. There is a serious problem with this so-called president! Tell the truth instead of lying all the time!!!
There are people who wouldn’t take a job if offered $100 an hour to do inventory for a blind liquor store owner.
P.J. O’Rourke
GW Bush had a peak of just over 6% and average under 5%
And the welfare rolls have never been higher.
Barack Hussein Obama will be of service to all of us after he is out of office. When you see a Barack Hussein Obama Blvd, you will know it’s probably a high crime area, stay away.
We often call them "Congressman" or "Senator"...
Think about it. When the economy is really hitting on all cylinders we feel it. There are help wanted signs everywhere, corporate earnings are up. Does anyone other than frackers (god bless ‘em) feel that acceleration?
Then unemployment figures released are fraud. Does not take into consideration those out of the work force that have given up looking and those underemployed in part time positions.
The most noticeable symptom of full employment is upwards wage pressure - with very few exceptions, we haven’t had that in over a decade (in some areas more).
As well as the faux welfare (disability) - the permanent replacement for welfare, which had constraints placed upon it by the 1996 welfare reform (though I can’t believe there is any five-year limit on the welfare culture we saw on parade in Ferguson and Baltimore).
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