Current Events > Reminder: Unemployment lowest in 44 years since Trump has been elected

(+) Yeah! (+)

http://www.timescolonist.com/us-unemployment-claims-fall-to-222-000-lowest-in-44-years-1.23068773

WASHINGTON The number of Americans collecting unemployment benefits fell last week to the lowest level since Richard Nixon was president.

THE NUMBERS: The Labor Department said Thursday that claims for jobless aid dropped by 22,000 to 222,000, fewest since March 1973. The less volatile four-week average slid by 9,500 to 248,250, lowest since late August.
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You're makung the mistake of thinking political crybabies are rational.

Just like the "Barack Hussein Osama Obama" idiots of the last president, the main problem is actually just the color tie he wears. Or rather, is supposed to wear. For some reason, he tends to wear blue.
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Thanks, Obama!
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DevsBro posted...

You're makung the mistake of thinking political crybabies are rational.

Just like the "Barack Hussein Osama Obama" idiot of the last president, the main problems is actually just the color tie he wears. Or rather, is supposed to wear. For some reason, he tends to wear blue.

Excuse me?
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The color tie.

You know, republicans wer red and democrats wear blue.
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Thank you, President Trump
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Thank you, Obama.
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Musourenka posted...

Thank you, Obama.

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Thanks Reagan. Trickle down economics finally taking hold!
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Yet TC is still unemployed.
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Godnorgosh posted...

I'm sure this is due to the fact that Trump is an economic mastermind and not because of coincidental shifts in the economy itself.

Has nothing to do with Donnie.
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Godnorgosh posted...

I'm sure this is due to the fact that Trump is an economic mastermind and not because of coincidental shifts in the economy itself.

"Coincidental shifts". Cute. Ever take a look at Venezuela? I wonder if that's coincidental.
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To what extent does this figure reflect or obscure the rise in part-time, temporary employment and "gig" jobs?
https://www.usatoday.com/story/money/business/2014/05/24/temporary-jobs-on-rise-in-shifting-us-economy/9273921/
https://www.usnews.com/news/the-report/articles/2015/08/23/the-part-time-economic-recovery
http://www.frbsf.org/economic-research/publications/economic-letter/2013/august/part-time-work-employment-increase-recession/
https://www.usatoday.com/story/money/business/2014/07/06/part-time-workers/12185871/

4% unemployment in 2017 is a different beast from 4% unemployment in 1972
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Antifar posted...

To what extent does this figure reflect or obscure the rise in part-time, temporary employment and "gig" jobs?
https://www.usatoday.com/story/money/business/2014/05/24/temporary-jobs-on-rise-in-shifting-us-economy/9273921/
https://www.usnews.com/news/the-report/articles/2015/08/23/the-part-time-economic-recovery
http://www.frbsf.org/economic-research/publications/economic-letter/2013/august/part-time-work-employment-increase-recession/
https://www.usatoday.com/story/money/business/2014/07/06/part-time-workers/12185871/

4% unemployment in 2017 is a different beast from 4% unemployment in 1972

literally a trump talking point

you're not wrong though
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though I would say the bigger thing that concerns me is that people are dropping out of the labor force entirely at higher rates than ever instead of taking on part time work, gig work, etc

which artificially raises the employment rate by taking out people who want to work but have given up hope of finding a job
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Keep taking credit. It'll make the upcoming crash all the more hilarious.
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Heineken14 posted...

Thanks, Obama!

1337toothbrush posted...

Keep taking credit. It'll make the upcoming crash all the more hilarious.

Remember anything good that happens is Trump's doing(regardless if he had any power to do so) and anything bad that happens is someone else's fault. They'll likely blame Obama for organizing from 3D chess move to crash the economy after he served his term to make Trump look bad.
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Bishop9800 posted...

Musourenka posted...

Thank you, Obama.

Is been several months since Obama could be given credit for the economy. That's about when all his business regulations went down the drain.
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Godnorgosh posted...

Yep. None of the conservative users who bring up the low unemployment rate seem to care to mention that careers died and were replaced with temp jobs offering low wages and no benefits.

plus, a bigger spatial mismatch than ever before between workers and their jobs

the people who used to mine coal in west virginia aren't becoming uber drivers -- well, some of them are, just like a few have developed new skills in areas like care/health work, but a lot of them are just waiting for blue collar jobs to come back.
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Balrog0 posted...

though I would say the bigger thing that concerns me is that people are dropping out of the labor force entirely at higher rates than ever instead of taking on part time work, gig work, etc

If that were the case, shouldn't the U6 numbers also be bad?
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It's worth mentioning this has been the trend.

Even if you disagree with Obama, I think you have to respect he was sworn in during the economy's worst state since the 30s but it was nearly brought back to what economists call "full employment" under him.

Mal_Fet posted...

Bishop9800 posted...

Musourenka posted...

Thank you, Obama.

Is been several months since Obama could be given credit for the economy. That's about when all his business regulations went down the drain.

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Mal_Fet posted...

Balrog0 posted...

though I would say the bigger thing that concerns me is that people are dropping out of the labor force entirely at higher rates than ever instead of taking on part time work, gig work, etc

If that were the case, shouldn't the U6 numbers also be bad?

Well, it kind of is.

U3 is below what it was in 2007 pre-recession, but U6 is higher, which does speak to this structural change in employment we are discussing imo

http://www.macrotrends.net/1377/u6-unemployment-rate

8.4/4.7 v 8.6/4.4

I'd say it becomes more clear when you look at the share of the unemployed who are unemployed long-term

https://www.bls.gov/spotlight/2015/long-term-unemployment/

between the 90s and the great recession, the long-term unemployment rate (as a share of the unemployed) never really went above 5%, but as of a few years ago it was still over 11% -- even as our general unemployment rate was back to pre-recession levels
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Balrog0 posted...

Mal_Fet posted...

Balrog0 posted...

though I would say the bigger thing that concerns me is that people are dropping out of the labor force entirely at higher rates than ever instead of taking on part time work, gig work, etc

If that were the case, shouldn't the U6 numbers also be bad?

Well, it kind of is.

U3 is below what it was in 2007 pre-recession, but U6 is higher, which does speak to this structural change in employment we are discussing imo

http://www.macrotrends.net/1377/u6-unemployment-rate

8.4/4.7 v 8.6/4.4

I'd say it becomes more clear when you look at the share of the unemployed who are unemployed long-term

https://www.bls.gov/spotlight/2015/long-term-unemployment/

between the 90s and the great recession, the long-term unemployment rate (as a share of the unemployed) never really went above 5%, but as of a few years ago it was still over 11% -- even as our general unemployment rate was back to pre-recession levels

According to all that, it looks like U6 is about as good as it was in the early 90s. Wasn't the early 90s looked upon as a really prosperous era for the US?
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Thanks Obama
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If only this was because of trump.

Gotta remember, anything good that happens is because of the last president (if the last was a Democrat) and anything bad that happens is because of the current president (when its a republican). .....and vice versa.
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yep, almost a year into a Trump presidency and Obama's economic growth is still going strong.
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Mal_Fet posted...

According to all that, it looks like U6 is about as good as it was in the early 90s. Wasn't the early 90s looked upon as a really prosperous era for the US?

the graph only goes back to the mid-90s, and it's more comparable to the late 90s

in the late 90s, when U3 was 4.4, U6 was roughly a full percentage point lower than it is now -- which isn't a big deal on it's face, but I am making the argument that this indicates a greater structural change in employment that is directly measured by the labor force participation rate

https://data.bls.gov/timeseries/LNS11300000

it is the lowest it has been since stagflation in the early 1980s -- that was not considered a really prosperous time for the US

edit -- to be clear, a lot of this has to do with an aging workforce, but prime working age men also have a lower LFP rate even compared to prime working age men just a decade or two ago. that is why talking about long-term unemployment and/or U6 is useful, because it helps paint a picture of what barriers the labor force is facing. When more than twice as many of your unemployed population has been unemployed for 99 weeks -- 2 years! -- and your labor force participation rates are going down even as the economy is recovering, there's something oging on
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Solid Snake07 posted...

yep, almost a year into a Trump presidency and Obama's economic growth is still going strong.

Mal_Fet posted...

Is been several months since Obama could be given credit for the economy. That's about when all his business regulations went down the drain.

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He pulled us out of NAFTA.
He pulled us out of the TPP.
He believes we need to be on high alert with the middle east.

I mean, he's not completely bad in those pick-and-choose senses.... but that's a splinter on a grand oak tree.
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Mal_Fet posted...

Solid Snake07 posted...

yep, almost a year into a Trump presidency and Obama's economic growth is still going strong.

Mal_Fet posted...

Is been several months since Obama could be given credit for the economy. That's about when all his business regulations went down the drain.

So what, exactly, has Donnie done that has made those numbers that you're praising, that did nothing but go up under Obama, as good as they are?
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Heineken14 posted...

So what, exactly, has Donnie done that has made those numbers that you're praising, that did nothing but go up under Obama, as good as they are?

Lol, Obama averaged 2% growth (after the recession). Growth is now near 4% after being at 1.9 when Obama left office.

Strangely enough, the economy started doing better after Trump began his pro-business anti-overregulation policies. It's almost like there's a connection there.
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Mal_Fet posted...

Heineken14 posted...

So what, exactly, has Donnie done that has made those numbers that you're praising, that did nothing but go up under Obama, as good as they are?

Lol, Obama averaged 2% growth (after the recession). Growth is now near 4% after being at 1.9 when Obama left office.

Strangely enough, the economy started doing better after Trump began his pro-business anti-overregulation policies. It's almost like there's a connection there.

So what, exactly, did Donnie do to suddenly make those numbers now "better" as opposed to when it was "a mess," according to Donnie.
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Obviously you can see what I was going for but apparently I don't know how to add text to gifs properly
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Heineken14 posted...

So what, exactly, did Donnie do to suddenly make those numbers now "better" as opposed to when it was "a mess," according to Donnie.

DId you miss the deregulation part of my post or something? Is that why you felt the need to repeat yourself?
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Mal_Fet posted...

Heineken14 posted...

So what, exactly, did Donnie do to suddenly make those numbers now "better" as opposed to when it was "a mess," according to Donnie.

DId you miss the deregulation part of my post or something? Is that why you felt the need to repeat yourself?

Care to explain specific deregulations that lead to your ridiculous conclusion?
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Mal_Fet posted...

Heineken14 posted...

So what, exactly, did Donnie do to suddenly make those numbers now "better" as opposed to when it was "a mess," according to Donnie.

DId you miss the deregulation part of my post or something? Is that why you felt the need to repeat yourself?

What exactly did he deregulate and how exactly did it make the numbers that were already going up under Obama's terms that were enough to be "a mess" somehow turn good?
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Heineken14 posted...

Mal_Fet posted...

Heineken14 posted...

So what, exactly, did Donnie do to suddenly make those numbers now "better" as opposed to when it was "a mess," according to Donnie.

DId you miss the deregulation part of my post or something? Is that why you felt the need to repeat yourself?

What exactly did he deregulate and how exactly did it make the numbers that were already going up under Obama's terms that were enough to be "a mess" somehow turn good?

Also, how are the unemployment numbers that were constantly disregarded as "fake" by conservatives during Obama's presidency now real since Trump became president?
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Heineken14 posted...

What exactly did he deregulate

https://townhall.com/tipsheet/justinholcomb/2016/11/10/the-list-of-executive-orders-that-trump-will-dispose-of-immediately-n2243914

I cant find a complete list of all the policies Trump overturned, but most of these are gone now.

Heineken14 posted...

and how exactly did it make the numbers that were already going up under Obama's terms that were enough to be "a mess" somehow turn good?

Because they were largely anti-business.
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Mal_Fet posted...

Heineken14 posted...

What exactly did he deregulate

https://townhall.com/tipsheet/justinholcomb/2016/11/10/the-list-of-executive-orders-that-trump-will-dispose-of-immediately-n2243914

I cant find a complete list of all the policies Trump overturned, but most of these are gone now.

Heineken14 posted...

and how exactly did it make the numbers that were already going up under Obama's terms that were enough to be "a mess" somehow turn good?

Because they were largely anti-business.

So anti-business that Donnie is now taking credit for an economy that turned around under Obama.

Gotcha.
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Heineken14 posted...

So anti-business that Donnie is now taking credit for an economy that turned around under Obama.

Obama did nothing other than hamper the recession recovery. That's why he oversaw the weakest recovery from a recession since the 1940's.
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Mal_Fet posted...

Heineken14 posted...

So anti-business that Donnie is now taking credit for an economy that turned around under Obama.

Obama did nothing other than hamper the recession recovery. That's why he oversaw the weakest recovery from a recession since the 1940's.

"Waaaah, a republican fucked up the economy and a democrat didn't fix it good enough fo.... oh.... it did get better? Well, he didn't have anything to do with it, it was our guy who has been in office for a few months!"

Does right wing talking points doe
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Remember Donald Trump said the unemployment rate is a lie and actually much higher then stated.
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creativerealms posted...

Remember Donald Trump said the unemployment rate is a lie and actually much higher then stated.

It is. If you've been out of work for long enough, you're statistically considered employed.
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REMercsChamp posted...

creativerealms posted...

Remember Donald Trump said the unemployment rate is a lie and actually much higher then stated.

It is. If you've been out of work for long enough, you're statistically considered employed.

So then why are we crediting Donnie with the lowest unemployment in 44 years? Some people have said unemployment is at an all time high. Maybe even 60%. Why hasn't Donnie done anything to curb this out of control unemployment?
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