5.8%

[bluehenbillk]

Can't argue with momentum. If you don't have one, get a job, they're hiring!!

[Ibanez]

Yeah, are wages going up as well? Up about 2%, barely keeping in line with inflation.

[Baldy]

Numbers didn't meet expectations, and the rate still fell. It just means that even more people dropped out of the workforce. Par for the course in the Obama economy.

Didn't see it yet, but I'm sure the U-6 is atrocious (as usual).

[CitadelGrad]

20% of those new jobs were waiters/waitresses and bartenders. No shit.

These figures were based on the Census Bureau's notoriously unreliable household survey, not the somewhat less unreliable BLS business survey.

Oh yeah, seasonal adjustments. The 16-25 demographic added more jobs in October than any month in more than a decade, and that increase was one of the highest in history. They are already lining up jobs in malls as Christmas gift wrappers, Santas and Sant's elves.

The 55-64 demographic labor force participation is still at an all-time because Grandma and Grandpa fixed-income are getting their negative real-interest rate asses kicked. Thank you Federal Reserve.

So, let's summarize. A near record number of new college graduates are finding excellent career paths in the server and bartender industries, but that number will be revised downward in two months, because the Obama administration decided to use the household survey, as it does when it needs a bump in employment numbers. Grandma and Grandpa either have an incredible work ethic or they are just doing all they can to subsist on something other than cat food.

[GannonFan]

Yeah, are wages going up as well? Up about 2%, barely keeping in line with inflation.

And that's the toughest nut to crack, really. The unemployment number is good, which it should be now 6 years since the recession ended, but wage growth is the thing that probably has most people anxious about this economic recovery and why many don't feel as secure as the unemployment number would say otherwise.

[Gil Dobie]

A local company just farmed out 1200 jobs at 80% of original pay and no benefits. CEO probably got a raise.

[CitadelGrad]

[bluehenbillk]

Are wages going up? Well what kind of job are you doing at your job....

College grads? I'm hiring them and they're making good money...not bartending or waitressing.

[CitadelGrad]

Are wages going up? Well what kind of job are you doing at your job....

College grads? I'm hiring them and they're making good money...not bartending or waitressing.

Wage growth is depressed because everyone is a slacker? Yeah, I'm sure that's it.

[Bronco]

In the last two years of the Bush administration when Harry and Nancy were running the economy the number was in the 4's the Govt media said it was the worst economy since the great depression.

[GannonFan]

Are wages going up? Well what kind of job are you doing at your job....

College grads? I'm hiring them and they're making good money...not bartending or waitressing.

You need to straighten Yellen out then - even she thinks that wages aren't growing fast enough when compared with inflation. You want to be a Fed chief?

[AZGrizFan]

Are wages going up? Well what kind of job are you doing at your job....

College grads? I'm hiring them and they're making good money...not bartending or waitressing.

I believe that's called anecdotal evidence.

[JohnStOnge]

I think bartenders get laid a lot. I really do. There are perks to that job.

[DSUrocks07]

You know, if those 5.8% just stop looking for work all together we would have ZERO unemployment!!!!!!




I just solved everything

[CitadelGrad]

That's actually true. If nobody had a job and nobody was looking for work, unemployment would be 0%. When I say that to liberals who tell me about Obama's great job growth, their heads explode.

[CAA Flagship]

http://www.gallup.com/opinion/chairman/ ... yment.aspx" onclick="window.open(this.href);return false;

The Big Lie: 5.6% Unemployment

None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job -- if you are so hopelessly out of work that you've stopped looking over the past four weeks -- the Department of Labor doesn't count you as unemployed. That's right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news -- currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren't throwing parties to toast "falling" unemployment.

There's another reason why the official rate is misleading. Say you're an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 -- maybe someone pays you to mow their lawn -- you're not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.

Yet another figure of importance that doesn't get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find -- in other words, you are severely underemployed -- the government doesn't count you in the 5.6%. Few Americans know this.

There's no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.

Gobama!!!!!

[Baldy]

http://www.gallup.com/opinion/chairman/ ... yment.aspx

The Big Lie: 5.6% Unemployment

None of them will tell you this: If you, a family member or anyone is unemployed and has subsequently given up on finding a job -- if you are so hopelessly out of work that you've stopped looking over the past four weeks -- the Department of Labor doesn't count you as unemployed. That's right. While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news -- currently 5.6%. Right now, as many as 30 million Americans are either out of work or severely underemployed. Trust me, the vast majority of them aren't throwing parties to toast "falling" unemployment.

There's another reason why the official rate is misleading. Say you're an out-of-work engineer or healthcare worker or construction worker or retail manager: If you perform a minimum of one hour of work in a week and are paid at least $20 -- maybe someone pays you to mow their lawn -- you're not officially counted as unemployed in the much-reported 5.6%. Few Americans know this.

Yet another figure of importance that doesn't get much press: those working part time but wanting full-time work. If you have a degree in chemistry or math and are working 10 hours part time because it is all you can find -- in other words, you are severely underemployed -- the government doesn't count you in the 5.6%. Few Americans know this.

There's no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie.

Gobama!!!!!

Source fail. Gallup is just right-wing Conk jack towel material.

Right, Cappy?

[travelinman67]

Went ahead and made Clifton's op a separate thread.

[CID1990]

Well one thing is sure- Clifton's claim that people who are unemployed longer than four weeks are not counted is easy to refute if it isn't true.

I haven't heard or read a refutation yet.

[kalm]

Are wages going up? Well what kind of job are you doing at your job....

College grads? I'm hiring them and they're making good money...not bartending or waitressing.

Wage growth is depressed because everyone is a slacker? Yeah, I'm sure that's it.

That's been the consensus among conks on here for awhile now.

Besides, wages don't matter. They only boost demand.

[Ibanez]

Damn millenials.

[bluehenbillk]

http://www.bloomberg.com/news/articles/ ... bor-market" onclick="window.open(this.href);return false;

Little more on the mark than Gallup's partisan view...

[D1B]

Went ahead and made Clifton's op a separate thread. Because I'm fucked on this one.

[bluehenbillk]

http://www.bloomberg.com/news/articles/ ... 03-million" onclick="window.open(this.href);return false;

I've only been saying this for close to a year now.....

If you want a job, there are plenty out there. Can't help lazy or unrealistic....

[CID1990]

http://www.bloomberg.com/news/articles/ ... bor-market

Little more on the mark than Gallup's partisan view...

So pointing out a pretty significant accounting flaw is partisan now, I see.