U.S. job gains soar past expectations; jobless rate nears 6-year low


mentalfloss
+1
#1
U.S. job gains soar past expectations; jobless rate nears 6-year low

WASHINGTON — U.S. employment growth jumped in June and the jobless rate closed in on a six-year low, decisive evidence the economy was moving forward at a brisk clip after a surprisingly big slump at the start of the year.

Nonfarm payrolls increased by 288,000 jobs, the Labor Department said on Thursday. Data for April and May were revised to show a total of 29,000 more jobs created than previously reported.

“It’s an extremely bullish report. It’s a report that really checks off all the positive boxes. I don’t think you could have asked for a stronger read,” said Jacob Oubina, senior U.S. economist at RBC Capital Markets in New York.

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Economists polled by Reuters had forecast a gain of 212,000 jobs in June. It was the first time since the technology boom in the late 1990s that employment has grown above a 200,000-jobs pace for five straight months.

U.S. stock index futures were trading slightly higher in volatile trading after briefly dipping following the data, while prices for U.S. Treasuries fell. The U.S. dollar gained against a number of major currencies.

The closely watched employment report added to robust auto sales in June and data showing a steady manufacturing expansion in suggesting a plunge in economic output in the first quarter was a weather-driven anomaly.

Gross domestic product contracted at a 2.9% annual rate in the January-March period, causing a sharp downgrading of growth estimates for this year. Growth in the second half of the year is forecast around a 3.5% pace.

Average hourly earnings, which are being closely watched for signs of wage pressures that could signal dwindling slack in the labor market, increased by 6 cents in June. They were up 2.0% from a year-ago.

U.S. job gains soar past expectations; jobless rate nears 6-year low | Financial Post
 
petros
+2
#2
Cracking down on employers of alien wetbacks paid off.
 
EagleSmack
+3
#3
 
gopher
No Party Affiliation
+4
#4  Top Rated Post
Quote:

U.S. job gains soar past expectations; jobless rate nears 6-year low



Of course, we all know this is "proof" that the Obama administration is a 'failure'.
 
BaalsTears
+4
#5
Most of the new jobs are part time. People can't build lives based on part time jobs without benefits.

Moreover, if you don't consider the labor force participation rate you can manipulate the unemployment rate to make things appear better than they are. No country in the world other than the USA ignores the labor force participation rate in calculating the unemployment rate. The Bureau of Labor Statistics might as well be working for the Chinese Communist Party as far as manipulation of statistics is concerned.
Last edited by BaalsTears; 3 weeks ago at 11:43 AM..
 
gopher
No Party Affiliation
+4
#6
First Take: Why Wall Street obsesses over jobs data


First Take: Why Wall Street obsesses over jobs data



Wall Street cares about the jobs number, because as the economy improves, so do the odds that the Federal Reserve will start to raise interest rates to head off inflation.

On that score — even with five good employment reports — investors don't have much to worry about.

The Bureau of Labor Statistics said that the U.S. added 288,000 jobs in June, vs. 215,000 expected by economists. The unemployment rate fell to 6.1%.





Yep, still another Obama "failure".
 
petros
+2
#7
Inflation is reducing the debt load. The Fed keeping interest low is a huge break for those in debt but when the inflation/debt ratio balances there will be hell to pay.
 
EagleSmack
+3
#8
As long as Wall St. keeps getting it's guaranteed monetary injection from the US Govt. things will be A-OK.
 
Kreskin
+1
#9
Quote: Originally Posted by petrosView Post

Inflation is reducing the debt load. The Fed keeping interest low is a huge break for those in debt but when the inflation/debt ratio balances there will be hell to pay.

The caveat on that is mortgages and loans are linear. If inflation includes rising wages then it isn't necessarily a bad thing. That's how the past generations ended up debt free.
 
Walter
+1 / -1
#10
Yay!
Prison Planet.com » June Full-Time Jobs Plunge By Over Half A Million, Part-Time Jobs Surge By 800K, Most Since 1993
 
gopher
No Party Affiliation
+3
#11
Five consecutive months of 200,000+ new jobs for the first time since 1999 since the Clinton administration.


Dow 17,000 - a new high.


Still another set of signs of Obama "failure" according to some.
 
Goober
Free Thinker
+1
#12
Quote: Originally Posted by EagleSmackView Post

As long as Wall St. keeps getting it's guaranteed monetary injection from the US Govt. things will be A-OK.

Banks were saved and still are not lending money.
The Feds could always follow the EU

Europe Stricken With Negative Deposit Rate - Forbes
 
gopher
No Party Affiliation
+2
#13
Quote: Originally Posted by GooberView Post

Blame Obama.





Definitely! Aye, and with a vengeance, too. After all, the number of jobs created should be significantly higher - ditto for the Dow Jones numbers. Obama should always follows Bush's magic formula for creating jobs, for generating revenue, for improving society and the world & universal order: cut taxes for the rich!
 
petros
#14
Quote: Originally Posted by KreskinView Post

The caveat on that is mortgages and loans are linear. If inflation includes rising wages then it isn't necessarily a bad thing. That's how the past generations ended up debt free.

That why it works for debt but kills exports. When Beijing stops devaluing the RMB, dump everything you have into precious metals and you won't lose you're shirt. Things are going to get worse before they get better.

Alex Jones?
 
BaalsTears
+1
#15
Quote: Originally Posted by KreskinView Post

The caveat on that is mortgages and loans are linear. If inflation includes rising wages then it isn't necessarily a bad thing. That's how the past generations ended up debt free.

All things are finite. Wages aren't keeping up with the rising cost of living.

Paychecks Can't Keep Up With Rising Prices : NPR
 
EagleSmack
#16
Quote: Originally Posted by GooberView Post

Banks were saved and still are not lending money.
The Feds could always follow the EU

Europe Stricken With Negative Deposit Rate - Forbes


Badabing! Exactly.


Of course Wall St. is booming. Corporate America is getting massive injections and hoarding.
 
gopher
No Party Affiliation
+1
#17
Happy 4th, America! Are You Better Off Than 4 Years Ago?


Happy 4th, America! Are You Better Off Than 4 Years Ago?



Record stock market crosses 17,000..... an increase of 265%...... in 5 years and 4 months.... Who is president?

Today it was announced we have just experienced the fastest job growth in the United States over the first half of the year since 1999.... The first time we've seen five consecutive months of job growth over 200,000 since 1999. And we've seen the quickest drop in unemployment in over 30 years. Who is president?

For the first time in a life of an 11 year old, there will be more combat ready troops at home spending 4th of July with their families, than taking enemy fire... Who is president?

This 4th of July, there are 3.8 million people with full time satisfactory jobs, (U6) who didn't have one last 4th of July.... Who is president?

This 4th of July, there are 10 million more Americans celebrating America's birthday, who if rushed to the hospital, can answer YES to the question: Are you covered by health insurance? And who is president?

This is what's real folks... This affects you, every minute, every day. As real as it gets... All the squabbling over Obamacare and how it was going to bankrupt America? Oh, yes, they've forgotten they said it... they wanted to take our levels of 4th of July last year, and GO BACKWARDS... They even shut down the government to save America from itself they said..... Instead we got results like this.....

All the squabbling over Benghazi, Lois Lerner and the IRS, lost emails, children at the border, prisoner swaps, come down to just words... Just one person's interpretation of a bunch of words in the law, versus another's interpretation of a bunch of words in the law. In real terms, for all the noise, they don't do anything. McConnell didn't get these results. Issa didn't get these results. Boehner didn't get these results.

No one goes back to work when a Republican talks to a camera. No one makes a great return on their investment when a Republican talks to a camera... Our DC centered news media, who for the most part is either cozily married or cocktail buddies to these self centered interviewees, is partly to blame for featuring nothingness, instead of showing us America is getting better... But wow, check the local media outlets; it's all there. They, who aren't cozy with the Washington establishment, are brimming over with good news.

But yet, at our feet, right in front of us... here it is, plain for all eyes who will look to see.... This fourth of July, most of America is better off then they were 4 years ago.... or even one year ago, that 4th of July..

This is just so awesome. Happy 4th, all of you! Happy 4th, America... Happy 4th, Obama....
 
pgs
Free Thinker
#18
Quote: Originally Posted by gopherView Post

Happy 4th, America! Are You Better Off Than 4 Years Ago?


Happy 4th, America! Are You Better Off Than 4 Years Ago?



Record stock market crosses 17,000..... an increase of 265%...... in 5 years and 4 months.... Who is president?

Today it was announced we have just experienced the fastest job growth in the United States over the first half of the year since 1999.... The first time we've seen five consecutive months of job growth over 200,000 since 1999. And we've seen the quickest drop in unemployment in over 30 years. Who is president?

For the first time in a life of an 11 year old, there will be more combat ready troops at home spending 4th of July with their families, than taking enemy fire... Who is president?

This 4th of July, there are 3.8 million people with full time satisfactory jobs, (U6) who didn't have one last 4th of July.... Who is president?

This 4th of July, there are 10 million more Americans celebrating America's birthday, who if rushed to the hospital, can answer YES to the question: Are you covered by health insurance? And who is president?

This is what's real folks... This affects you, every minute, every day. As real as it gets... All the squabbling over Obamacare and how it was going to bankrupt America? Oh, yes, they've forgotten they said it... they wanted to take our levels of 4th of July last year, and GO BACKWARDS... They even shut down the government to save America from itself they said..... Instead we got results like this.....

All the squabbling over Benghazi, Lois Lerner and the IRS, lost emails, children at the border, prisoner swaps, come down to just words... Just one person's interpretation of a bunch of words in the law, versus another's interpretation of a bunch of words in the law. In real terms, for all the noise, they don't do anything. McConnell didn't get these results. Issa didn't get these results. Boehner didn't get these results.

No one goes back to work when a Republican talks to a camera. No one makes a great return on their investment when a Republican talks to a camera... Our DC centered news media, who for the most part is either cozily married or cocktail buddies to these self centered interviewees, is partly to blame for featuring nothingness, instead of showing us America is getting better... But wow, check the local media outlets; it's all there. They, who aren't cozy with the Washington establishment, are brimming over with good news.

But yet, at our feet, right in front of us... here it is, plain for all eyes who will look to see.... This fourth of July, most of America is better off then they were 4 years ago.... or even one year ago, that 4th of July..

This is just so awesome. Happy 4th, all of you! Happy 4th, America... Happy 4th, Obama....

As America keeps printing money the stock market goes up . But does its value actually increase ?
 
mentalfloss
#19
ITAR-TASS: Russia - Putin congratulates Obama on US Independence Day
 
darkbeaver
Republican
+1
#20
His sense of humor must keep him rolling in his isles. The US of A is finally independent of reality. Today they will celebrate dissolution, war and staggering poverty with flags and cakes. Of course as Canadians we can't laugh to hard cuz we go to hell with them in the same hand basket.
 
Walter
-1
#21
Quote: Originally Posted by gopherView Post

Happy 4th, America! Are You Better Off Than 4 Years Ago?

BHO's Utopia. Don't get dizzy with your spinning, Rodent.

46 million Americans still using food stamps despite decline | Economic Collapse News
11,004,507: Disability Beneficiaries Top 11 Million for First Time | CNS News
Watching The Revolution Unfold on Independence Day
Census: Elderly Workforce Participation Rate Strong While Overall Rate Weakens - US News

A good point by Krauthammer.
Krauthammer: Job Growth Coincides With End Of Extended Unemployment Benefits | Video | RealClearPolitics
 
gopher
No Party Affiliation
+3
#22
~ As America keeps printing money the stock market goes up . But does its value actually increase ? ~

what the government printing office does to day is no different from what it has done in the past 30 years



unemployment reduced with job creation

and the tax law still allows deductions for business meals which means taxpayers subsidize business people
 
mentalfloss
+1
#23
Inflation tinfoil hatters are worse than 911 truthers.
 
BaalsTears
+1
#24
It is the policies of the Federal Reserve Board that matter for monetary purposes, not the Govt. Printing Office. What the Federal Reserve Board is doing today that differs from the past is its continuous policy of quantitative easing. Quantitative easing is like pumping a kid full of sugar ad infinitum because the Fed has no exit strategy.
 
mentalfloss
#25
Actually, that's called hyperbole.
 
BaalsTears
#26
Actually, it's called a metaphor.
 
mentalfloss
#27
Actually, it can be both.
 
captain morgan
Bloc Québécois
+1
#28
Actually, you just got your a s s handed to you MF
 
darkbeaver
Republican
#29
Quote: Originally Posted by BaalsTearsView Post

It is the policies of the Federal Reserve Board that matter for monetary purposes, not the Govt. Printing Office. What the Federal Reserve Board is doing today that differs from the past is its continuous policy of quantitative easing. Quantitative easing is like pumping a kid full of sugar ad infinitum because the Fed has no exit strategy.

I bet they do, they just don't want to share it with the public.

Quote: Originally Posted by mentalflossView Post

Inflation tinfoil hatters are worse than 911 truthers.

If you keep swallowing the blue pills yer gone esplode.
 
gopher
No Party Affiliation
+2
#30
Quote: Originally Posted by pgs;

As America keeps printing money the stock market goes up . But does its value actually increase ?










Those investors are certainly better off than under Reagan or anyone else.
 

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