NY Times asks: Why so glum America? The economy is looking good.

[Icarus27k]

The Times couldn't help but notice the pessimistic attitude shared by President Obama, Republicans, the Federal Reserve, and Americans in general about the US economy. And then they proceed to paint a (mostly accurate) opimistic picture of the US economy.

Source: High and Low Finance - Why So Glum? History Suggests a Strong Recovery - NYTimes.com

The Times is right. US employers are hiring again. The last few months have shown job gains (preliminary numbers for March were 162,000 jobs were added). Early 2010 has been the guess for the beginning of a jobs recovery since, like, late 2008, so everyone has been seeing the light at the end of the tunnel for a long time.

US GDP has been growing continously for awhile now.

Consumer spending is up.

The recession in the US probably ended last summer, but we won't know that for sure until the National Bureau of Economic Research determines that at some future date.

The stock market is up, and has certainly left behind its crisis-level volatility.


It is a good question. Why are you so glum, America?

 

[ironsides]

The stock market is only up because the U.S. goverment is supporting it thru strengthening the dollar thus controlling the price of oil. As I mentioned in another post, start closely managing your stocks, the market will be going way down by the end of this year.

 

[EagleSmack]

The Times is right. US employers are hiring again. The last few months have shown job gains (preliminary numbers for March were 162,000 jobs were added). Early 2010 has been the guess for the beginning of a jobs recovery since, like, late 2008, so everyone has been seeing the light at the end of the tunnel for a long time.

The last few months have shown job gains?

Lets check the Labor Bureau shall we?

Nov 2008- 10%
Dec 2008- 10%
Jan 2009- 9.7%
Feb 2009- 9.7%
March 2009- 9.7%

.3% gain from December to Jan... that's it.

The only big jumps in jobs were government jobs. This takes into account the 40,000 TEMPORARY jobs recently created for the 2010 census.

Why so glum?

 

[Icarus27k]

I stand corrected. It wasn't job gains in the "last" few months. Rather it was the months of November, January, and March. Dec. and Feb. saw job losses, but still, the following chart is very optimistic.

The Gavel Blog Archive March Jobs Report - Largest Monthly Job Gain In 3 Years


These are the monthly job gains/losses, which is a different survey and statistic than the unemployment rate, which peaked at 10.2% in Oct., but is now on its way down. (It currently stands at 9.7%.) That too was completely predictable way back during 2008, so again, the light at the end of the tunnel was clearly observable even back then.

 

[EagleSmack]

I stand corrected. It wasn't job gains in the "last" few months. Rather it was the months of November, January, and March. Dec. and Feb. saw job losses, but still, the following chart is very optimistic.

The Gavel Blog Archive March Jobs Report - Largest Monthly Job Gain In 3 Years


These are the monthly job gains/losses, which is a different survey and statistic than the unemployment rate, which peaked at 10.2% in Oct., but is now on its way down. (It currently stands at 9.7%.) That too was completely predictable way back during 2008, so again, the light at the end of the tunnel was clearly observable even back then.

Do you really think that pulling a chart off Nancy Pelosi's own website is supposed to make people feel great?

 

[Icarus27k]

Yes. Don't question the source, especially when the source is telling the truth.

 

[YukonJack]

"Yes. Don't question the source, especially when the source is telling the truth."

Tell that to Mr. Knowitall, who summarily dismisses Rasmussen Polls (even it is in agreement with polls by CNN, ABC, NBC etc.) online publications, world reknown experts on various topics if they have the unmitigated nerve to disagree with him.

 

[EagleSmack]

Yes. Don't question the source, especially when the source is telling the truth.

Source the Labor Bureau

In March, nonfarm payroll employment rose by 162,000. Job growth continued in temporary help services and in health care. Federal government employment increased due to the hiring of temporary workers for Census 2010. Job losses continued in financial activities and in information. (See table B-1.)

Temporary help services added 40,000 jobs in March. Since September 2009, temporary help services employment has risen by 313,000.


A nation of Temps. Great job Nancy. I wonder if that was on her blog.

This may explain a little for you.

 

[Avro]

Yep, it sure will take some time to fix what the Republicans did.

Plus, I know why Americans are glum....they live in the States.:lol:

 

[EagleSmack]

Yep, it sure will take some time to fix what the Republicans did.

Plus, I know why Americans are glum....they live in the States.:lol:

Obsessing again?

 

[Icarus27k]

"Yes. Don't question the source, especially when the source is telling the truth."

Tell that to Mr. Knowitall, who summarily dismisses Rasmussen Polls (even it is in agreement with polls by CNN, ABC, NBC etc.) online publications, world reknown experts on various topics if they have the unmitigated nerve to disagree with him.

And who would Mr. KnowitAll be?

 

[AnnaG]

The Times couldn't help but notice the pessimistic attitude shared by President Obama, Republicans, the Federal Reserve, and Americans in general about the US economy. And then they proceed to paint a (mostly accurate) opimistic picture of the US economy.

Source: High and Low Finance - Why So Glum? History Suggests a Strong Recovery - NYTimes.com

The Times is right. US employers are hiring again. The last few months have shown job gains (preliminary numbers for March were 162,000 jobs were added). Early 2010 has been the guess for the beginning of a jobs recovery since, like, late 2008, so everyone has been seeing the light at the end of the tunnel for a long time.

US GDP has been growing continously for awhile now.

Consumer spending is up.

The recession in the US probably ended last summer, but we won't know that for sure until the National Bureau of Economic Research determines that at some future date.

The stock market is up, and has certainly left behind its crisis-level volatility.


It is a good question. Why are you so glum, America?

Because they know we haven't learned a thing and it will happen all over again. That would be my guess.

 

[EagleSmack]

And who would Mr. KnowitAll be?

Don't flatter yourself. It ain't you.

 

[YukonJack]

"And who would Mr. KnowitAll be?"

Icarus27k, you are obviously a newcomer on this forum. But don't get a big head, it is not you.

 

[Icarus27k]

Source the Labor Bureau

In March, nonfarm payroll employment rose by 162,000. Job growth continued in temporary help services and in health care. Federal government employment increased due to the hiring of temporary workers for Census 2010. Job losses continued in financial activities and in information. (See table B-1.)

Temporary help services added 40,000 jobs in March. Since September 2009, temporary help services employment has risen by 313,000.


A nation of Temps. Great job Nancy. I wonder if that was on her blog.

This may explain a little for you.

It probably would be on her blog since a rise in temps is a significant improvment. It's a normal part of economic recovery. Private companies hire temps before they hire permanent workers.

Even considering that, the March report had increases in permanent jobs as well. For example, manufacturing is +40,000.

 

[Icarus27k]

"And who would Mr. KnowitAll be?"

Icarus27k, you are obviously a newcomer on this forum. But don't get a big head, it is not you.

I wasn't suggesting it was me. I wanted to say, "Hey person who is being talked about by YukonJack, don't dismiss Rasmussen polls."

 

[EagleSmack]

It probably would be on her blog since a rise in temps is a significant improvment. It's a normal part of economic recovery. Private companies hire temps before they hire permanent workers.

Even considering that, the March report had increases in permanent jobs as well. For example, manufacturing is +40,000.

Rise in Temps is an improvement? I am sure they feel real secure.

40K is a drop when you have 14.9 MILLION Unemployed.

 

[Kreskin]

Rise in Temps is an improvement? I am sure they feel real secure.

40K is a drop when you have 14.9 MILLION Unemployed.

ES, the US has been playing with fire for years. One can only build a house of cards so high. Corporate America has been actively exporting jobs for years. The program has matured to the point where Walmart and Krispy Kreme jobs are the only ones left. Everyone in the free world could see it coming. Ross Perot warned about in the 90`s when exporting jobs to peanut-payers gained serious headway. It`s crazy to think Obama is to fault. It`s too bad we couldn`t unwind what he did to see how things would`ve worked out if none of the banks or insurance companies were bailed out. I suspect everyone would be fighting over bird-scraps in the streets. The DOW would be about 1000 and Obama would be to blame.

 

[EagleSmack]

ES, the US has been playing with fire for years. One can only build a house of cards so high. Corporate America has been actively exporting jobs for years. The program has matured to the point where Walmart and Krispy Kreme jobs are the only ones left. Everyone in the free world could see it coming. Ross Perot warned about in the 90`s when exporting jobs to peanut-payers gained serious headway. It`s crazy to think Obama is to fault. It`s too bad we couldn`t unwind what he did to see how things would`ve worked out if none of the banks or insurance companies were bailed out. I suspect everyone would be fighting over bird-scraps in the streets. The DOW would be about 1000 and Obama would be to blame.

I did not say it was his fault. He promised to fix this. The Democrats promised to fix this.

And?

 

[Icarus27k]

They are fixing it, more or less. (Some of it is a natural recovery that would happen no matter what government or private sector leaders do, but some of it is also a recovery from governmental action, especially the Recovery and Reinvestment Act and the Fed.) That little dip after the peak on the right side of that line graph is the beginning of the effects of the fix.

Unemployment is like a natural disaster in the sense that a lot of it is impossible to stop and it has to be weathered.