Where is the recovery, the July job numbers are short by 29,000 from the 100,000 the economist had called for, add to that, for July the economy lost 131,000 jobs, by those numbers we are short 160,000 jobs in July alone, and it takes approximately 150,000 to 200,000 new jobs created to uptake the new workers entering the job market, let alone those who have been laid off or fired. Even the temporary job market has seen a set back with the loss of 5,600 jobs this month. Construction lost 11,000 jobs, and financial firms laid off 17,000 workers. Now add to that the revised June numbers, revised downwards, June's private-sector job gains were lowered to 31,000 from 83,000. And Obama claims 9 straight months of job growth? really and just where is that growth? 150,000 to 200,000 new workers enter the labor force every month, on top of 16+ million unemployed and 8 1/2 million jobs that don't exist any more, again what job growth? what recovery? A jobless recovery is no recovery. http://www.cbsnews.com/stories/2010/08/06/business/main6748398.shtml
30 years and counting of Wall Street and the Washington pundits and politicians and foreign governments and foreign investors and even some economists not seeing any problem with the USA consuming more than it produces; so why the hell should anybody expect job growth in the USA?
Where is the bottom of the Bush decline? The latest housing news seems like the possible straw. Republican "change" wont make jobs, but only fight to close the unemployment safety net. The U.S. needs emergency job creation in a fast and tremendous display, not doable by the Republicans and their "Big Business" cohorts. Such a massive job projects effort (a Liberal specialty in the past, and not successfully implemented otherwise) is long overdue. A timely worry with so many unemployed workers (not to mention the whittled numbers still working)-- the "accumulated stress of bearing a long period of not knowing" --has to be a real concern.
Oh this is not like you don't know the answers, because just a few hours ago. I had a conversation on the very same subject with you mr. bufflao roam...just like the very same conversations we have had in numerous other threads on the same subject. But that does not stop you from fleeing to another thread and starting it all over again. I think that is called spamming mr. buffalo roam. Two economists do not "call for". Show me where in your article that it reports economist "call for". You cannot because they do not. Let me quote from the article you referenced: "Most economists expected much stronger job growth last month and now some are wondering if the recovery is in jeopardy, reports CBS News correspondent Rebecca Jarvis. For seven straight months, companies have hired new workers, but in very small numbers." - CBS You have a typical buffalo roam problem, your article does not support your claims. "The modest gains were even weaker when considering a loss of government jobs at the local, state and federal levels in July that weren't temporary census positions. Factoring those in, the net gains were only 12,000 jobs, according to the Labor Department's July report Friday. " - CBS "The department also sharply revised down its jobs figures for June, saying businesses hired fewer workers than previously estimated. June's private-sector job gains were lowered to 31,000 from 83,000. May's were raised slightly to show 51,000 net new jobs, from 33,000." - CBS Funny how you forgot to include the upward revisions Please Register or Log in to view the hidden image! I guess your memory is getting really short these days. Where did President Obama claim 9 straight months of job growth? Prove it. But just like all of your past wild ass claims, you will not be able to prove it because President Obama never made that claim. And you know it, because in numerous previous threads this has been pointed out to you time and time again. What President Obama did say, is that we have had 7 straight months of private sector job growth. Governments have been shedding jobs. I should think that would bring glee to those who want to shrink the size of government. But then may be you are not serious about shrinking the size of government - something Republicans have not done in the last 70 years. How did you come to the conclusion that it is a jobless recovery, because that conclusion is not supported by your article? "There is still a labor market recovery, but it's a very, very weak one," said Nigel Gault, chief U.S. economist at IHS Global Insight." - CBS Here are some other little things in the article you referenced that you forgot to mention: "Many companies appear to be getting more out of their current employees rather than adding new staff. The average work week increased by one-tenth of an hour to 34.2 hours, the department said. That's up from about 33 hours in the depths of the recession. Average hourly pay also rose 4 cents to $22.59, up 1.8 percent from a year earlier. That, along with the increase in hours worked, could provide some boost to spending." - CBS That means demand for goods and services is up a precursor to more hiring. Funny you should forget to mention that. Funny you should forget this little gem too. "Manufacturers added 36,000 jobs in July, slightly above its monthly average this year. Those gains were aided by General Motor's decision to keep its plants running last month. Usually it closes them and temporarily lays off employees to retool for the new model year." - CBS So bottom line your premise is not supported by your article. And you again cherry picked to try to find pieces of information in order to distort the truth. And you are spamming again. http://www.sciforums.com/showpost.php?p=2609644&postcount=43
Round and round the merry go round. It probably has no point but I seem willing to be stuck in Bill Murry's "Groundhog Day". The same discussions over and over. People get defeated in debates and never admit defeat but just keep repeating the same stuff.
I feel that ShadowStats statistics are more honest and meaningful than the usually quoted BLS's statistics. Please Register or Log in to view the hidden image! http://www.shadowstats.com/alternate_data/unemployment-charts Their explanation of their stats.
Right in front of your nose Please Register or Log in to view the hidden image! GDP Numbers came in today, readem and weep mr. buffalo roam. They exceeded expectations. Please Register or Log in to view the hidden image! You cannot add jobs to the economy if the economy is shrinking. Unfortunatley for you and limbaugh, hannity, beck, levin, et al the economy is growing and private sector jobs are being added to the economy. http://www.bloomberg.com/markets/economic-calendar/ Market Consensus Before Announcement GDP growth for the second quarter came in at an annualized 2.4 percent for the initial estimate and followed a revised first quarter gain of 3.7 percent. Final sales of domestic product gained an annualized 1.3 percent in the second quarter, following a 1.1 percent rise the prior quarter. However, this measure includes weakness from the widening in net exports. Real final sales to domestic purchasers rose 4.1 percent, compared to a 1.3 percent gain in the first quarter. Economy-wide inflation accelerated in the second quarter as the GDP price index rose an annualized 1.8 percent, following a 1.0 percent in the first quarter. The acceleration in prices was due to the impact from net export components as domestic price inflation actually remained subdued. Definition Gross Domestic Product (GDP) is the broadest measure of aggregate economic activity and encompasses every sector of the economy. Why Investors Care " - Bloomberg Corporate Profits Are Up and continue to rise. http://www.bloomberg.com/markets/economic-calendar/ "Highlights Corporate profits in the second quarter grew to an annualized $1.372 trillion from a revised $1.370 trillion in the prior quarter. Profits in the second quarter were up an annualized 0.6 percent, following a 54.1 percent surge the prior quarter. Profits are after tax but without inventory valuation and capital consumption adjustments. Corporate profits are up 37.7 percent on a year-on-year basis, compared to up 50.8 percent in the first quarter
The GNP has been lowered even more, now it is going to at 1.25 % instead of 3.50 %. Please Register or Log in to view the hidden image!
Oh, and what would be the basis for this claim? Did you not read the latest report from Bloomberg or are you just pulling this out of the aether or did limbaugh tell you?
the Bureau of Economic Analysis (BEA) released their second installment of the Q2 2010 GDP report showing that the economy continued to expand with real GDP increasing at an annualized rate of 1.6% from Q1 2010. http://www.google.com/url?sa=t&sour...n-mIBw&usg=AFQjCNFBoOl7axvbPesSi399Ritbv6T3EA
No you did not get it from the BEA. You got it from an opinion piece. There is a big, very big difference in credibiltiy between the two. This is the news release from the BEA: http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm "Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.6 percent in the second quarter of 2010, (that is, from the first quarter to the second quarter), according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.7 percent. The GDP estimates released today are based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the increase in real GDP was 2.4 percent (see "Revisions" on page 3). The increase in real GDP in the second quarter primarily reflected positive contributions from nonresidential fixed investment, personal consumption expenditures, exports, federal government spending, private inventory investment, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased. The deceleration in real GDP in the second quarter primarily reflected a sharp acceleration in imports and a sharp deceleration in private inventory investment that were partly offset by an upturn in residential fixed investment, an acceleration in nonresidential fixed investment, an upturn in state and local government spending, and an acceleration in federal government spending." - BEA Now I don't want to sugar coat this number. The second quarter is clearly much slower that growth in the first quarter and it should be a cause for concern. And the federal government should be ready to give further stimulus if needed. Unfortunately, because of Republican interference, that is not likely to happen. Thus the ball will fall to the Federal Reserve to do something more innovative to stimulate the economy. And the Fed's ability to pull that rabbit out of the hat remains questionable. But Bernanke has proven himself to be a resourceful fellow in the past. But the fact remains, GDP slowed much less that what the market expected in the second quarter. And that is a good thing.
"But the fact remains, GDP slowed much less that what the market expected in the second quarter. And that is a good thing. " Anyone else picking up on the growing trend of 'Its bad...but it could be worse' mantra coming from the hardcore libs?
LOL, well since you righties brought it on, I think you should be thanking the lefties for cleaning up your messes. The unfortunate facts for you and your rightie limbaugh friends is that the economy is getting better. It is certianly greatly improved over last year. And all you poor fellows can point to is the employment numbers are not as high as most people (righties exempted) would prefer. And it has been pointed out to you a number of times that recoveries from this kind of recession are not instanteous. It takes years for fully recover from this kind of recession. A little fact that your righties like to ignore. You guys are just lucky their are some non righties around to clean up your messes. What is so strange is you guys like to call yourselves patriots but you also take such great pride in destroying the nation. Please Register or Log in to view the hidden image! p/s It is not uncommon for an economy in recovery to slow down. The road to recovery is never straight up - another little tidbit for you to fear. Please Register or Log in to view the hidden image! You are now free to continue to pray for economic disaster and destruction of the nation with your fellow righties like limbaugh, levin, et al.
before something gets better it first needs to get less worse. also you don't turn a battleship on a dime
Well the unfortunate fact for the righties is that the economy has definately gotten a whole lot better. But the average Joe and Jane have not yet felt the improvement - especially if they are unemployed. And there are a lot of fear mongers out there preaching doom and gloom in order to further their political objectives. The fact is things are much better and they are getting better. But to expect that President Obama could snap his fingers and get us back to where we were under the Clinton presidency is just an example of the fantasy/magical thinking so typical of the rightie foot soldier.
Real results don't require pages of explanations or excuses. If this administration and its policies were actually right for this country none of these forums or discussions would take place.
