Housing, jobs data weaken, but overall economic picture still upbeat

Comments (149)
Bighammerman wrote:

Another failure from Obama. This guy is killing our country and his actions will cause the deaths of many Americans in years to come. Congress needs to remove Obama from office NOW.

Dec 19, 2013 9:14am EST  --  Report as abuse
Travlnmn41 wrote:

Roar on, Obamaconomy.

Dec 19, 2013 9:15am EST  --  Report as abuse
BaiJiuUSA wrote:

DId you even read the article… Unemployment is at a 5 year low 7.0%

Dec 19, 2013 9:36am EST  --  Report as abuse

Yeah, the unemployment across the nation averages out to an all time low of 7%, but that fails to paint the whole picture. The vast majority of those who are employed now, are at low wage, part time jobs. This is due to the rules of being on unemployment. While on unemployment, one MUST apply to multiple jobs a week, and verify those applications, and if offered a job, (any job) they have to take it or they default on their unemployment benefits. This forces people to take the first job that they get an offer to, which is rarely the one that can effectively support themselves or their family.

Dec 19, 2013 9:58am EST  --  Report as abuse
gcf1965 wrote:

Sure it is BaiJiuUSA, if you really believe that with the millions out of the job market that REAL unemployment is at 7%, then we need to talk ’cause I have some bridges you might be interested in buying. And this during a time when at least temp hiring should be dropping the numbers.

Dec 19, 2013 10:07am EST  --  Report as abuse
Harry079 wrote:

It makes one wonder what the weekly numbers will be after the Christmas Season.

Above 400,000 again?

Dec 19, 2013 10:11am EST  --  Report as abuse
unionwv wrote:

@BaiJiuUSA: The laborforce participation rate is 63.2%, lowest since 1978.

The unemployment rate is relatively less definitive, measuring only those who file claims for unemployment benefits.

Dec 19, 2013 10:28am EST  --  Report as abuse
gcf1965 wrote:

Yesterday this same website was praising the housing market with high starts and low levels of inventory. Do they just wake up one day and decide they “feel” good so they are going to write a fluff article void of facts, truth, reality?

Dec 19, 2013 11:12am EST  --  Report as abuse
4825 wrote:

Obama went from receiving the Nobel Peace Prize (which seemed like a joke at the time), to receiving the “Biggest Lie Award” this year. He said “If you like your plan you can keep your plan, period” and “If you like your doctor you can keep your doctor”. Well now America, we the people can say in 2014, “if you like your Senator you can keep your Senator”. Be sure to vote in 2014.

Dec 19, 2013 11:27am EST  --  Report as abuse
Rich_F wrote:

>>DId you even read the article… Unemployment is at a 5 year low 7.0%

if the labor participation rate was the same when obama first took office the UE rate would be 11%. liars figure and figures lie the UE rate is a useless measurement.

Dec 19, 2013 11:32am EST  --  Report as abuse
divinargant wrote:

The headline number is a farce, and when 1+ mil leave the rolls next month, the Feb. NFP headline % print is going to drop like a rock unless an extension bill is passed by the D.C. pin heads. I’m not one of those on the Fed Ext. but if you are you got to be sweating bullets about now since the repubs want it paid for or no dice and there doesn’t seem to be much movement on getting one to the floor. There are monies available however to study the duck penis if your at Yale and your into that kind of thing, and, it should be comforting to know that the taxpayer is providing much needed relief for the brothels in NV. and their pancake faced prostitutes.

Dec 19, 2013 11:39am EST  --  Report as abuse
Vult68 wrote:

How many years have to go by with mediocre results at best before we collectively come to realize that the Obama economic policies are not working. In fact, they are a drag on the economy. even though the Fed has held interest rates ridiculously low, the economy limps along.

The average post recession growth after 4 years has been 19% — this time 10%. It is time to face reality – Obama economics are a failure.

Dec 19, 2013 11:42am EST  --  Report as abuse
SaveRMiddle wrote:

And within these initial claims guestimates…. just how many Americans PERMANENTLY lost living wage jobs this week, this month, this year?

Who in their right mind could believe this recession offers a pathway back to Yesterday which includes most Americans?

Our global economic immersion promises far less for many more.

Dec 19, 2013 11:47am EST  --  Report as abuse
gcf1965 wrote:

USA, I’ve repeated it time and again, the way the number is figured has not changed, the number has never been accurate, but it has historically been relevant and useful in tracking trends. However, due to the sustained drop in the labor force participation over the past several years, this number is no longer even relevant or useful in providing any information. As my simplistic example given before: no one in my neighborhood has a horse and buggy, does that I live in a poor community? No, because the relevance has changed. To ignore that few are moving out and back into the labor force and instead the flow is mostly one way, is naive and dishonest to yourself. As for the black man, I could care less, BTW, he is as much white as black remember, but since you are unable to defend your position any other way, follow the leftist DNC playbook and start spouting racism.

Dec 19, 2013 12:00pm EST  --  Report as abuse
gcf1965 wrote:

No Vult68, you are missing the obvious. Things are good, economy is great and you are racist. That is the truth from page 12 of the DNC manual.

Dec 19, 2013 12:03pm EST  --  Report as abuse
gcf1965 wrote:

“The intellectual dishonesty of the right has just become astounding” I would turn this around and change it to read the left, but there seems to be little intellect on the left any more

Dec 19, 2013 12:12pm EST  --  Report as abuse
NEWAGER wrote:

Passing Obamacare was the number one priority with this administration. Nothing else matters.

Dec 19, 2013 12:19pm EST  --  Report as abuse
Harry079 wrote:

Here’s a fact nobody can dispute.

In the last 2 weeks over 700,000 people lost their jobs and filed for unemployment. I’m preety darn sure that some of them are Democrats and some of them are Republicans.

In the end it really doesn’t matter which party you claim because you have a new title UNEMPLOYED.

Dec 19, 2013 12:38pm EST  --  Report as abuse
WildBill- wrote:

Unemployment the lowest in 5 years eh? Who was President during those better economic times?

Dec 19, 2013 12:40pm EST  --  Report as abuse
MeMadMax wrote:

Not good when we are supposedly supposed to “Ramp up” hiring during the holiday season…

The Feb 2014 “Temp worker axe spree” is gonna be a doosy…

Dec 19, 2013 12:50pm EST  --  Report as abuse
jdubbenstien wrote:

Add in the Fed “tapering”, and the 10 yr about to break 3% and somehow all is fine….

These aren’t the droids you’re looking for, move along….

Dec 19, 2013 12:52pm EST  --  Report as abuse
jdubbenstien wrote:

Add in the Fed “tapering”, and the 10 yr about to break 3% and somehow all is fine….

These aren’t the droids you’re looking for, move along….

Dec 19, 2013 12:52pm EST  --  Report as abuse
redmerlot wrote:

@USAPRagmatist2:
The unemployment number is real, but its indication of our true unemployment situation is not. The fact that this same statistic has been used for 20 years means nothing unless you are willing to look at the other important related statistics that have ALSO been used for that period, like the labor participation rate.

3% fewer people in our population are actually working. Does that not matter? We could reduce the number of actual working people to 1 guy, give him a job, and our unemployment rate would be zero, but our economy would be pretty bad off, wouldn’t it? Of course, it’s not that bad, but in a significant way, it is similar. If we had the same percentage of our population being counted as participants in the work force as we had, say, 5 years ago, the unemployment rate would indeed be more like 11%

So is it really “better” if we have a smaller percentage of the population actually working? I say no. 7% unemployment on a smaller base is just as bad. It just makes people feel better to see that smaller number and ignore the fact that fewer people actually have jobs.

Dec 19, 2013 12:52pm EST  --  Report as abuse
Cogito wrote:

Obamanomics at its finest.

We are Detroit.

Dec 19, 2013 12:56pm EST  --  Report as abuse
JWNEWKD wrote:

I just went on www.zillow.com and my home value has tumbled $5K in the past month. When the market goes up to fast it will go down to correct itself. This goes for wall street – a 20% increase this year – based on what?

Dec 19, 2013 12:59pm EST  --  Report as abuse
GizaDog wrote:

Don’t let WallStreet know. This will spoil XMas.

Dec 19, 2013 1:06pm EST  --  Report as abuse
jimmybouy wrote:

These numbers are “cooked” real unemployment numbers are much higher. If you single out youth (any race) or black the numbers are astronomical.

Dec 19, 2013 1:10pm EST  --  Report as abuse
BigSammy wrote:

Obamanomics. Just wait until Obamacare goes into full swing and we all see our insurance rates skyrocket. How many businesses are going to drop hours for employees when the employer mandate is in effect?

Dec 19, 2013 1:15pm EST  --  Report as abuse
4825 wrote:

@Cogito- We are not Detroit yet but we are on our way if we don’t make some drastic changes in the leadership positions in Washington. Be sure to vote in 2014.

Dec 19, 2013 1:25pm EST  --  Report as abuse

Amazing how anyone with an IQ above a mud puddle would ever trust what the Feral GUBmint statistics are these days. They have been and still are massaging the data to reflect whatever initiative or agenda they wish to pursue. To believe unemployment is truly at 7% means you are incapable of reading between the lines and should not be allowed to vote! Ignorance is rampant in this Country today as is the level of corruption spewing out of the Feral GUBmint in that Sheethole called DC!

Dec 19, 2013 1:28pm EST  --  Report as abuse
csiamerica wrote:

What a surprise!?!

Dec 19, 2013 1:31pm EST  --  Report as abuse
navyagc wrote:

Unemployment up? WOW, how unexpected that it is just in time for Harry Reid to demand an extension of Unemployment benefits.

Dec 19, 2013 1:36pm EST  --  Report as abuse
jpantara wrote:

Has it occurred to anyone that our government is lying? Go to http://shadowstates.com and you will find the true unemplyment rate is over 23%. The government admits to the U6 number the rate is over 13%. Wake up America!

Dec 19, 2013 1:55pm EST  --  Report as abuse
pbtruth wrote:

Can you even imagine how bad the figures would be if the Obama administration weren’t cooking the books. The Obama administration is more criminal then Nixon’s, more incompetent then Carter’s and more racist then Wilson’s.

Dec 19, 2013 1:56pm EST  --  Report as abuse
Whatsgoingon wrote:

Bad title. The job number is seasonal, and a 4.3% dip in house sale is not “tumble.” 5 years after the subprime bubble this is not too bad, at all.
Next year is crucial. Once rate goes up interest payment on the $17T will add resistance. Premature introduction of ACA will add risk. Hope recovery takes hold in 2014.

Dec 19, 2013 1:56pm EST  --  Report as abuse
toneloco64 wrote:

WHOA! Hold the phone… The FED is only going to print ~900 billion yearly in additional QE instead of the usual 1 Trillion?

Holy recovery Batman

Dec 19, 2013 1:58pm EST  --  Report as abuse
azgirl9000 wrote:

How is the overall economic picture “still upbeat”? If this president was a white Republican, the media would be calling this “The Obama Depression”.

Dec 19, 2013 2:00pm EST  --  Report as abuse
Informed38 wrote:

USAPragmatist2 wrote:
@vult68 the financial crash of 2007-2008 was not an average event, it was the most sever financial shock since 1929…

How old are you? Were you alive in the 70s? From the 40s to the 70s, economic growth was averaging 4% per year. Unemployment only exceeded 6% twice in that time span. Annual inflation rate was only 2%. Hourly incomes grew an average of 2% per year.

1970s – Hourly wages were stagnated
1971 – Inflation was 6%
1974 – Inflation ballooned to over 10%
1975 – Unemployment rate went over 8% reaching 10% by 1982

Because of the energy crisis that coincided with the Carter recession, you could see people literally abandoning their cars on the side of the road because there was no gas to be found.

Dec 19, 2013 2:03pm EST  --  Report as abuse
jpantara wrote:

Check out shadow stats. Government admits to U6 @ 13.2% unemployment!

Dec 19, 2013 2:03pm EST  --  Report as abuse
jpantara wrote:

Check out shadow stats. Government admits to U6 @ 13.2% unemployment!

Dec 19, 2013 2:03pm EST  --  Report as abuse
Crash866 wrote:

OK spin it now…

Dec 19, 2013 2:08pm EST  --  Report as abuse
Crash866 wrote:

BaiJiuUSA
Did you read it…

Dec 19, 2013 2:09pm EST  --  Report as abuse
Crash866 wrote:

Whatsgoingon
Lost hope and bad change…that is whatsgoingon

Dec 19, 2013 2:15pm EST  --  Report as abuse
4825 wrote:

@navyagc- You have it right. These numbers are put out for Harry Reid to use to try to justify extending unemployment benefits just like they cooked the numbers right before the last presidential election to make it look like things were getting better. A lot of people are on to them now though.

Dec 19, 2013 2:28pm EST  --  Report as abuse
gcf1965 wrote:

Whatsgoingon – you are right, we are looking at a seasonal jobs report, sadly though, the numbers should be going the other way. With seasonal hiring, unemployment should be going down, not up. 4.3% is significant, very significant actually.

AZgirl, he isn’t though, so all is good, to say otherwise shows how much of a racist you obviously are (sarcasm), because the only reason to oppose this current disaster is because you are “ignorant”, “hick”, “teabagger”, “racist”, etc., etc. it could never be because obama is a miserable wretch, liar, and failure at everything.

Dec 19, 2013 2:30pm EST  --  Report as abuse
Adheeb wrote:

Just yesterday I read a column on MSNBC stating that home sales were climbing. Somebody’s lying.

Dec 19, 2013 2:35pm EST  --  Report as abuse
gts58 wrote:

Every single day there is “conflicting” financial/economic data being released by various sources – many of these sources seem to have their own agendas. Much of this has to do with the housing market or supposed growth or non-growth in the economy. Much of the good news is being pushed by CNBC investment brokers who’s livelihood depends upon the inflow of money from investors – 95% of them are wildly bullish.

Dec 19, 2013 2:38pm EST  --  Report as abuse
MikeBarnett wrote:

Few people remember that Halloween, Thanksgiving, and Christmas in the 4th Quarter will raise employment on speculation. However, the unemployment numbers ignore those who no longer look for work, so the correct number should be 12%, and it will rise. This 4th Q began with 1 less shopping weekend and lost 2 more weekends to snow and ice.

The two big worries are middle class losses and Obamacare. Economic shifts since 1994 have made the rich into the super rich, but the 1% won’t eat 300 eggs for breakfast, wear 100 suits, or drive 100 cars to work each day. The 1% won’t spend enough money in enough stores to drive the US economy. Obamacare is taking a minimum of $105 per month or $1260 per year from everyone in the USA or $400 billion, 2.5% of US GDP, per year from US shoppers. The US economy must grow more than 2.5% each year or become negative and go into recession.

Add to that deep discounts (buy 1, get 2 free) that make low profits, and layoffs BEFORE Christmas become normal. Higher interest rates when middle incomes become lower make home sales drop. Finally, whether it is homes or Christmas presents, NO ONE makes a profit on any merchandise until a salesman sells the product. Since 1994, the US has been working hard to make sure that 99% of US citizens can only afford to buy products made in China or some other low wage country. The US is reaping a whirlwind that it created for itself.

Dec 19, 2013 2:53pm EST  --  Report as abuse
gcf1965 wrote:

Adheeb, that same story was here on Reuters as well as I pointed out earlier. Strange huh that it can miraculously change, literally overnight

Dec 19, 2013 2:54pm EST  --  Report as abuse
Greenspan2 wrote:

Who needs housing, who needs jobs, as long as stocks are going up.

Dec 19, 2013 3:12pm EST  --  Report as abuse
KoolaidKid wrote:

Unemployment 7% REALLY ?? It is actually closer to 18%. Welcome to the Obama Recession Version 2.0

Dec 19, 2013 3:36pm EST  --  Report as abuse
janderson4795 wrote:

The media still tries to cover for Obama even when there is bad news. If this was Bush the world would be coming to an end.

Dec 19, 2013 3:38pm EST  --  Report as abuse
Loucleve2 wrote:

I thought businesses usually hired more people during the Holidays?

Frankly, I get so sick of the incessant “upbeat economy” BS.

Face reality – if the economy were not very sick indeed, would the Fed be buying $85BB a month? Now $75BB?

All to fix the banks at the expense of savers and the retired.

And not ONE banker in jail.

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” – Henry Ford

Dec 19, 2013 3:49pm EST  --  Report as abuse

@Whatsgoingon, if the ACA was a single-payer or even had a public option you would be correct, but it doesn’t. It is regulated capitalism, using a regulated private industry.

Dec 19, 2013 3:55pm EST  --  Report as abuse
MemePasser wrote:

It seems obvious that the plan of those standing behind Democrats and Republicans is to tear down the economy once and for all, in order to restructure along socialist, communist, fascists lines — building it back up along some utopia-laced wet dream.

Dec 19, 2013 3:57pm EST  --  Report as abuse
jaz2you wrote:

Merry Xmas from Obama! Every day feels like Xmas with this guy… And don’t forget Reuters – they’re still busy polishing their favorite turd!

Dec 19, 2013 3:58pm EST  --  Report as abuse
valwayne wrote:

That’s two weeks in a row now that first time UNEMPLOYMENT claims have shot through the roof and way exceeded expectation. Holiday layoffs in week 2 and 3 of December when the shopping season was so short this year. Folks, this means the Christmas shopping season is not going well and that means we are headed into a bad situation in the New Year, and its not like our Obama damaged economy was doing well. The Federal Reserve has been pumping in $85 billion in funny money every month this year to keep it Obama from collapsing the economy. We all have to hope this is just a really negative blip down because if this trend continues with Obama killing jobs like the Keystone Pipeline, and Obamacare already slamming jobs and the economy we are all in really serious trouble. Folks Obama is a LYING INCOMPETENT that couldn’t run a lemonade stand, and he’s done so much damage to our economy. DEBT and FUNNY MONEY were never the answer, but that’s what has kept us going while Obama killed growth and jobs. Get ready for the worst!

Dec 19, 2013 4:01pm EST  --  Report as abuse
NickyinKL wrote:

Unemployment claims up, housing sales down for the third straight month, “economic picture still upbeat”- yep that sounds about right. The ministry of spin is still feeding us crap.

Dec 19, 2013 4:01pm EST  --  Report as abuse
UnexpectedBS wrote:

“…new filings for unemployment benefits unexpectedly rose last week”

What’s with the use of the word “unexpectedly” when delivering the never ending bad news about Obama’s/the Democrat Commies’ economy?

This is the EXPECTED destruction of our republic by communist usurpers, aka, “Progressives”, aka, Democrats/Liberals/thieves/leeches.

Dec 19, 2013 4:04pm EST  --  Report as abuse
VRok wrote:

In January 2009 Obama was inaugurated.
Labor participation was 65.7% Unemployment 7.8%
November 2013.
Labor participation was 63% Unemployment 7.0%

Source: http://data.bls.gov

He can do miracles indeed!

Dec 19, 2013 4:09pm EST  --  Report as abuse
UnexpectedBS wrote:

@Whatsgoingon

Make no mistake. The vermin who created Obamacare are socialists/communists/collectivists.

Obamacare was designed from the ground up to destroy private health care (cause pain and chaos) and make “single payer” the “necessary” solution.

Obamacare is a FASCIST healthcare system. “Socialist” doesn’t fit as neatly as does “fascist”.

But, we’re splitting hairs-tyranny is tyranny is tyranny. We are all certainly less free because of it. And we will all be less healthy because of it.

The opportunity cost of the loss of freedom is staggering.

Dec 19, 2013 4:11pm EST  --  Report as abuse

Let’s not forget that the stock market is not the economy. At least half the enthusiasm for this year (2013) and longer have not been rational stock buyers, but corporations themselves hoping to cash in “when conditions improve”. They’ve been buying back stocks in order to spread dividends among fewer actual shareholders, trying to keep them happy and investing.

Once the market improves, if it truly improves, and regular folks start pouring money into it again, they’ll sell those repurchased stocks at a premium. At least, that’s the plan. Meanwhile, they’ll do whatever they have to in order to stay alive. Laying off more people is the first place they look. It’s all a big Ponzi scheme, much like the housing market – based on greed. It’s all sides of the very same scheme…again.

Dec 19, 2013 4:13pm EST  --  Report as abuse
cddjr wrote:

I guess it was getting too dangerous to continue the LIES of the weeks before last………..and previous monthly reporting since Obama’s approval started, and continues, to tank.
remember all the crowing about that sharp 86,000 drop…..well, you are seeing it made up and not much out of the media

Dec 19, 2013 4:21pm EST  --  Report as abuse
VRok wrote:

Jan 2009 Obama is inaugurated.
Labor participation: 65.7% Unemployment: 7.8%
Nov 2013
Labor participation: 63% Unemployment: 7.0%
Source: http://www.bls.gov/k12/

It is a miracle! I am sure he can walk on water too.

Dec 19, 2013 4:22pm EST  --  Report as abuse

Normally, unemployment goes down toward the holidays, traditionally anyway. Just shows the new realities of greed. Automated and online operations need fewer workers, and fewer jobs to go around means you can get away with overworking them and paying them peanuts.

Who really thought we’d all by flying Jetson’s cars and working 3-4 hours a day 4 days a week, living in luxury? You’re a fool if you believed that’s what we were working toward all these decades. Even now, less than 1 in 3 actually work and the numbers will get worse. Welcome to the world of 2 or 3 jobs just to scrape by. Unless you’re good and self-employed, you remain at risk for the foreseeable future.

Dec 19, 2013 4:26pm EST  --  Report as abuse
MaxAR15 wrote:

What happened to that Summer of recovery? Democrats OWN this economy & Obama Care. Choke on it Democrats

Dec 19, 2013 4:52pm EST  --  Report as abuse

@”BaiJiuUSA”,

Did YOU even read the article? Nowhere is 7% or 5-year and unemployment even mentioned in it. Wishful thinking? I do see mention of a nine-month high in unemployment, which is a bad sign, as well as dampening enthusiasm for the housing market, another bad sign.

After all, where are you going to find suckers to indebt themselves, given the uncertain employment world, and overpay for that box you’ve been sitting on unless more people “believe”? The country’s crawling along based on the ignorance or greed of a few. If it weren’t for that, we wouldn’t be moving at all.

(Buy local or die local.)

Dec 19, 2013 4:54pm EST  --  Report as abuse
Northforker wrote:

This house of cards is about to fall.

The stock market is being propped up by printing presses.

The real unemployment rate is much higher than reported due to millions that have dropped out of the search for a job.

Houses are not selling and if they do, it’s at a discount.

Taxes and fees are eroding buying and savings power.

Individual debt is rising again.

Obamacare is scaring the daylights out of Americans and the costs will push many over the edge into insolvency.

Hang on, it’s about to get REAL!!!!!

Dec 19, 2013 4:56pm EST  --  Report as abuse
Dave-0 wrote:

Meanwhile, the usual press suspects trumpet the ‘recent low unemployment rate’ BS.

Dec 19, 2013 4:59pm EST  --  Report as abuse
Northforker wrote:

This house of cards is about to fall.

The stock market is being propped up by printing presses.

The real unemployment rate is much higher than reported due to millions that have dropped out of the search for a job.

Houses are not selling and if they do, it’s at a discount.

Taxes and fees are eroding buying and savings power.

Individual debt is rising again.

Obamacare is scaring the daylights out of Americans and the costs will push many over the edge into insolvency.

Hang on, it’s about to get REAL!!!!!

Dec 19, 2013 5:01pm EST  --  Report as abuse
devan95 wrote:

I’m going to present you with two sets of headlines. One set is from January of 2004. At that time the unemployment rate had dropped to 5.7%. President George W. Bush was also just getting his
reelection campaign cranked up.The other set of headlines is from just last week, when we got the incredibly exciting news that the unemployment rate had dropped to 8.6 Oh … almost forgot. The second set of headlines came as Obama was getting his reelection campaign
really cranked up. OK .. here are the two sets of headlines. Can you tell me which was from 2004 and which was more recent?
The President’s Jobless Recovery
Frustrated Job Seekers Cause Jobless Rate To Drop
Economy Adds Few New Jobs
Low Jobless Rate Reflects Lost Hope
US Jobless Rate Drops But For Wrong Reasons
Unemployment Rate Drops To 8.6% Raising Hopes
Jobless Rate Drop Could Boost Obama
Obama Gets Economic Indicator He Can Crow About
Good News On Job Front For Obama Jobless Rate Lowest In 2.5 Years

Oh well .. that wasn’t much of a test, was it .. not with the Obama name spread across the place and the reference to the 8.6% rate. But take a good look at the headlines to see how the news was treated. Of particular interest are three of the headlines in the Bush column:
“Frustrated Job Seekers Cause Jobless Rate to Drop” “Low Jobless Rate Reflects Lost Hope”“US Jobless Rate Drops But For Wrong Reasons”

Dec 19, 2013 5:16pm EST  --  Report as abuse
igotbugs wrote:

Unless you’re riding the stock bubble or working for the federal government, exactly how is the economic picture still upbeat?

Dec 19, 2013 5:17pm EST  --  Report as abuse
Frankie21 wrote:

Hey BaijiuUSA—If we counted the unemployed who have quit working the percentage would be 10.5%. That does not sound like improvement to me. We have the lowest worker participation rate in 40 years-63% and the gap between haves and have nots is the largest EVER. Add to that the millions who have lost their health care and the buffoon you voted for has the worst record since Jimmy Carter.

Dec 19, 2013 5:19pm EST  --  Report as abuse
Frankie21 wrote:

Hey BaijiuUSA—If we counted the unemployed who have quit working the percentage would be 10.5%. That does not sound like improvement to me. We have the lowest worker participation rate in 40 years-63% and the gap between haves and have nots is the largest EVER. Add to that the millions who have lost their health care and the buffoon you voted for has the worst record since Jimmy Carter.

Dec 19, 2013 5:19pm EST  --  Report as abuse

@whatsgoingon, I understand your 2nd point, it is kind of a gray area, not really Socialism, but not really Capitalism either. But your first point is not valid because every time I have checked options on the website there are multiple companies with plans on there competing for business.

On a side note, I am a big fan of Capitalism, but medical care is one of the few areas where I think a Socialized option is best. Because it about making people healthier, not making money.

Dec 19, 2013 5:23pm EST  --  Report as abuse
vatodio wrote:

Not to worry.

Another summer of recovery is just around the corner, only six months away.

We have been turning so many corners, I am not sure if “We’re there yet?”

Dec 19, 2013 5:27pm EST  --  Report as abuse
a_patriot wrote:

Ah the lies about “upbeat economy”

The term “upbeat” is BS that has nothing to do with macro economics.

Its Smoke and Mirrors.

If the economy is so upbeat, why are we constantly being bombarded wiht the “economy is upbeat” story?

IT ISNT. The economy is in the crapper

CREDIBLE persons say it isnt, especially say that housing is about to tank big time.

American Enterprise INstitute program on C-SPAN II Oct 21, housing and Govt finance:

www*c-spanvideo*org/program/HousingandG

Dec 19, 2013 5:29pm EST  --  Report as abuse
Northforker wrote:

This house of cards is about to fall.

The stock market is being propped up by printing presses.

The real unemployment rate is much higher than reported due to millions that have dropped out of the search for a job.

Houses are not selling and if they do, it’s at a discount.

Taxes and fees are eroding buying and savings power.

Individual debt is rising again.

Obamacare is scaring the daylights out of Americans and the costs will push many over the edge into insolvency.

Hang on, it’s about to get REAL!!!!!

Dec 19, 2013 5:55pm EST  --  Report as abuse
Bumr50 wrote:

Everybody with a functioning brain knows that the U6 knows that the U6 is the REAL unemployment number.

7%? LMAO!!

Of course even that’s a bit low, due to seasonal, part-time, temp, retail hiring.

Those aren’t careers, and they’re barely “jobs.”

Dec 19, 2013 5:58pm EST  --  Report as abuse
MikeRomero wrote:

Now, how did this happen. Unemployment rate went down again earlier in the month. Might those numbers been altered, edited or falsified? Hmm? Where have we saw that before. Wake up folks!! Everything you see and hear is you and I being played by this administration one way or another. Yes, it is finally time for some hope and change. Boy am I sure hoping for some change real soon.

Dec 19, 2013 6:03pm EST  --  Report as abuse
CornFarmer wrote:

This house of cards is about to fall.

The stock market is being propped up by printing presses.

The real unemployment rate is much higher than reported due to millions that have dropped out of the search for a job.

Houses are not selling and if they do, it’s at a discount.

Taxes and fees are eroding buying and savings power.

Individual debt is rising again.

Obamacare is scaring the daylights out of Americans and the costs will push many over the edge into insolvency.

Hang on, it’s about to get REAL!!!!!

Dec 19, 2013 6:21pm EST  --  Report as abuse
DanielPayne wrote:

OY! Home sales never tumbled. They never recovered! If ten homes sell in October and twenty sell in November the “media” reports that as a 100% increase in sales. The housing market is moribund. We have something like four finished homes for every buyer and that won’t change until the population increases or homes are torn down by the banks.

Please stop reporting the housing market as if it were dynamic. It’s in stasis. No one is buying. No one is building. The market is positively glutted. Enough!

Dec 19, 2013 6:24pm EST  --  Report as abuse
RealFax wrote:

Sigh…someone on here is accusing Obama detractors of racism. That’s like Hitler accusing someone else of antisemitism. The entire reason Obama was elected — and his whole claim to fame in life, too — was because his dad was black. Does anyone actually think that if he’d had two white parents, that he’d have even made it past Hillary in the primaries, much less won the election? The entire reason he was even elected was because of racism. How anyone can deny that the blackness of the first ‘black’ president had anything to do with his victory is beyond ludicrous. It’s infantile nonsense.

Dec 19, 2013 6:35pm EST  --  Report as abuse
librtyship wrote:

The 7 percent ate is unreal, the more realistic rate put out by BLS is in the 14 pct range, the reason the rate has gone to 7 pct is the fact that so very many people have given up looking for employment. Wait till the Obamascare fiasco becomes a real factor in January, it is a real job killer among other bad things!

Dec 19, 2013 6:44pm EST  --  Report as abuse
Whatsgoingon wrote:

@USAPragmatist2 yes there are multiple companies but they all charge $200 to get aspirin pills, don’t they? Glad you are big fun of capitalism, and I hope you agree that in an open market high prices reflect short supply. By forcing people to buy from the same suppliers is not going to drive price down, because it touches wrong side of the equation.
I am a big fan of capitalism, too, but like you I am willing to support a socialized system for healthcare. Everybody gets to live only once, and unfortunate ones deserve to get help from healthier peers. However before hitting the socialism button the system has to be rock solid, at least tested and implemented in phases. Otherwise it’ll quickly evolve into a target of corruption and abuse. IMHO that’s happening with ACA even before it’s started. I hope the economy can hold up resonably well next year to give ACA chances to get fixed. At this stage a repeal could cost us more. Practice liability alone due to the confusions would cost multiple years and billions.

Dec 19, 2013 6:50pm EST  --  Report as abuse
Friedrich1 wrote:

Ven Obama says, “We must obey the Fed”
Ve vill Heil, (PFFFTTT), Heil (PFITTT) in Obama’s face.
Not to love der Fuherer is a great disgrace
So Sieg Heil (PFFTTT), Sieg Heil (PPFFFTTT)
In Obama’s Face!

Ist ve not der Super Mann?
Ja ve ist der Super Mann!
Super Duper Super Mann!

Obama brings der vorld New Order!
Dem Progressive vorld disorder!
All der Human vace
Vill love der Fuherers face
Ven He brings to der vorld
Disorder!

Dec 19, 2013 6:58pm EST  --  Report as abuse
Friedrich1 wrote:

Ven Obama says, “We must obey the Fed”
Ve vill Heil, (PFFFTTT), Heil (PFITTT) in Obama’s face.
Not to love der Fuherer is a great disgrace
So Sieg Heil (PFFTTT), Sieg Heil (PPFFFTTT)
In Obama’s Face!

Ist ve not der Super Mann?
Ja ve ist der Super Mann!
Super Duper Super Mann!

Obama brings der vorld New Order!
Dem Progressive vorld disorder!
All der Human vace
Vill love der Fuherers face
Ven He brings to der vorld
Disorder!

Dec 19, 2013 7:01pm EST  --  Report as abuse
Friedrich1 wrote:

Ven Obama says, “We must obey the Fed”
Ve vill Heil, (PFFFTTT), Heil (PFITTT) in Obama’s face.
Not to love der Fuherer is a great disgrace
So Sieg Heil (PFFTTT), Sieg Heil (PPFFFTTT)
In Obama’s Face!

Ist ve not der Super Mann?
Ja ve ist der Super Mann!
Super Duper Super Mann!

Obama brings der vorld New Order!
Dem Progressive vorld disorder!
All der Human vace
Vill love der Fuherers face
Ven He brings to der vorld
Disorder!

Dec 19, 2013 7:01pm EST  --  Report as abuse
movinon wrote:

Unemployment is not at a 5 year low, the numbers have been cooked. the whole system has been cooked. Over 5 million jobs were lost in the crash and only a little over 1 million have come back…..recovery?……not.

Mr. BaiJiuUSA… all due respect but you need to do a little more home work.

Dec 19, 2013 7:06pm EST  --  Report as abuse
Benny65 wrote:

TYPICAL Reuters “news”…UNEXPECTED rise in unemployment claims, housing down BUT everything el rosy for the Obama controlled media. Here’s a REAL news flash….NO ONE believes Reuters and their Obama minions anymore!

Dec 19, 2013 7:11pm EST  --  Report as abuse
Benny65 wrote:

TYPICAL Reuter’s “news” article. The “UNEXPECTED” rise in unemployment claims..oh, oh, housing down, BUT otherwise everything is rosy according to the Obama CONTROLLED media. NEWS FLASH for Reuter’s….NO ONE believes your propaganda anymore!

Dec 19, 2013 7:14pm EST  --  Report as abuse
HarrySeaward wrote:

Upbeat my butt.

Sycophant media. We are still in a recession. Only QE is a band aid.

Dec 19, 2013 7:21pm EST  --  Report as abuse
HarrySeaward wrote:

Upbeat my butt.

Sycophant media. We are still in a recession. Only QE is a band aid.

Dec 19, 2013 7:21pm EST  --  Report as abuse
HarrySeaward wrote:

Once everyone works for the govt they can claim victory

Dec 19, 2013 7:21pm EST  --  Report as abuse
TheCurmudgeon wrote:

BaiJiuUSA * Unemployment is at 7% ONLY because people are leaving the workforce in droves. If the workforce had remained stable since the inauguration, unemployment would be 11.5%. Add to that the fact that the majority of “jobs” created have been part time.

Dec 19, 2013 7:49pm EST  --  Report as abuse
jackG123 wrote:

This article is so full of it, I want to throw up. I’m sorry, I’m missing the silver lining here. When you use the words, “housing market fundamentals, however, remains SOLID”. Anytime the word “solid” is used, that’s the kiss of death. A smart trader would dump that stock if those words were used about a company. And to say, as one comment here says: “Unemployment is at an all time low at 7.0″..You fail to point out that the number of people unincluded in that calculation is at an all time high!! Some real stupidity seen here has compelled me to write this comment.

Dec 19, 2013 7:52pm EST  --  Report as abuse
jackG123 wrote:

This article is so full of it, I want to throw up. I’m sorry, I’m missing the silver lining here. When you use the words, “housing market fundamentals, however, remains SOLID”. Anytime the word “solid” is used, that’s the kiss of death. A smart trader would dump that stock if those words were used about a company. And to say, as one comment here says: “Unemployment is at an all time low at 7.0″..You fail to point out that the number of people unincluded in that calculation is at an all time high!! Some real stupidity seen here has compelled me to write this comment.

Dec 19, 2013 7:52pm EST  --  Report as abuse
dencal26 wrote:

Interesting to see jobless claims spike so close to Christmas. Usually retailers do not lay off until January which tells me these are regular jobs lost.

Dec 19, 2013 7:52pm EST  --  Report as abuse
Old_Ollie wrote:

Not to worry. Everything will magically get better a month before the election, just like it did in 2012.

Dec 19, 2013 7:57pm EST  --  Report as abuse
rikoshay wrote:

If the economy is doing so well why does the fed need to “print” 90 Billion dollars a month to buy assets and dilute the dollar? The 7% unemployment number is a farce. There are less people working now than anytime in the last 35 years even thought the population is much higher.

Dec 19, 2013 8:13pm EST  --  Report as abuse
A.Cortez wrote:

But things are getting better… hope and change!

Dec 19, 2013 8:20pm EST  --  Report as abuse
Back2Reality wrote:

Can you believe it; The press keeps on telling us that we are in a recovery even though at best we are in a recession going on depression.

Dec 19, 2013 8:34pm EST  --  Report as abuse
Cahal_the_Mad wrote:

LOL The same old propaganda and BS. The O-admin has already been busted faking unemployment numbers but regardless of that, they only use the U3 figure which doesn’t include people whose unemployment ran out or who gave up looking. The U3 figure is based off of who is getting money from the government not how many people are actually out of work. The real figure is closer to 25-30%. When you only get your “news” and “facts” from the state-run liberal media, then you will only know the lies, never the truth.

Dec 19, 2013 8:34pm EST  --  Report as abuse
Highwayman56 wrote:

Ever notice that when it comes to unemploymen reports from the mainstream media, every rise in unemployment or jobless claims is coupled with the word “unexpected”? Such is the case with this article.

Dec 19, 2013 8:35pm EST  --  Report as abuse
Viewminder wrote:

If you like your house you can keep it!

Dec 19, 2013 9:11pm EST  --  Report as abuse

The government jimmied with the unemployment numbers in October 2012 to help re-elect Obama. Of course, it will never be proven; Woodward and Bernstein are loyal Democrats. These numbers were released so that things won’t look so bad in November 2014.

Dec 19, 2013 9:12pm EST  --  Report as abuse
Maxwells wrote:

Same old crap, first make headline with great numbers, then slip the real data in when no one’s watching. How about counting the welfare stats? When many people drop-off the unemployment roles they’re going on the welfare role, not finding jobs.

Dec 19, 2013 9:24pm EST  --  Report as abuse

When I went to Vegas I saw tigers disappear and then re-appear. I saw men levitate and no wires! When I was in New York City I saw 3-card monty games…Only 3 cards, yet the dealer (mostly) won. True unemployment is closer to 20%, remember, they do not count the people who have given up looking and moved in with mom/dad. America…When are you going to come to the realization that your country is done, stick a fork in it. You sold your soul for the latest gizmo, sports, and more beer. Point being, when an empire collapses the criminals in charge ALWAYS loot the treasury before leaving the populace stuck with the bill. Lions, tigers, economy it is all done with smoke and mirrors. Enjoy your poverty and your servitude at the hands of your lord and master…Heil Obama! (get used to it)

Dec 19, 2013 9:34pm EST  --  Report as abuse

Obamanomics = Obamacare = Global Obama Depression

Dec 19, 2013 9:56pm EST  --  Report as abuse
Dump_Congress wrote:

Oh. Probably Flop Ears Berri (aka “The Genius”) will have to “pivot”, and “focus like a laser” on the economy once he gets back from golf and his Hawaiian “vacay.” That multimillion $ jaunt paid for by taxpayers while many are out of work.

Dec 19, 2013 9:58pm EST  --  Report as abuse
lottopol wrote:

“..The effects of the 2007 depression are much less severe than the 1929-41 depression because of safety-net benefits now provided. Consider the horrendous, though not uncommon situation of a household in 1932 comprised of elderly grandparents being supported by their working-age children with young children of their own, when the breadwinners became unemployed. The 1932 family would be destitute. Today the grandparents would have social security and Medicare benefits. Their working-age children could now collect unemployment benefits for up to 99 weeks. Additionally, the entire family could also be eligible for food stamps, Medicaid, rent subsidies, heating fuel subsidies, free school lunches and other benefits. The 1932 family might also have had a bank account in one of the many banks that failed and lost their savings. Today, Federal Deposit Insurance protects such bank accounts. You might say we are now in a depression with benefits.

The difference between a depression and a severe recession are not just semantic. Recessions occur when the Federal Reserve raises interest rates in an effort to slow down an overheated economy. Most importantly, recessions end when the Fed lowers interest rates. In a recession the pent-up demand for housing and durable goods means that monetary policy alone can cure the recession. Just as antibiotics can be effective against bacterial infections but not against viruses, monetary policy alone cannot end a depression. Furthermore, modest fiscal stimulus and the automatic stabilizers that can hasten the end of recessions cannot end a depression. There can be ups and downs in the unemployment rate during a depression. However, the unemployment rate remains elevated. It was 14.5% in 1940 and 9.7% in 1941.

If we are in a recession, economic activity will fully resume just from the monetary and fiscal stimulus that has already occurred. Ultimately interest rates will rise. However, if we are in a depression, even one with safety-net benefits that mitigate the hardships, interest rates will remain relatively low for decades as was the case in Japan and the USA of the 1930s, where only World War II ended the depression. The ideal investment for an extended period of low interest rates is agency mREITS.

Depressions occur after investment bubbles burst. In free-market capitalism, capital generates income for the owners of the capital which in turn is used to create additional capital. This is very good. Sometimes, it can be actually too good. As capital continues to accumulate, its owners find it more and more difficult to deploy it efficiently. The business sector generally must interact with the household sector by selling goods and services or lending to them. When capital accumulates too rapidly, the productive capacity of the business sector can outpace the ability of the household sector to absorb the increasing production.

The capitalists, or if you prefer, job creators use their increasing wealth and income to reinvest, thus increasing the productive capacity of the business they own. They also lend their accumulated wealth to other business as well as other entities after they have exhausted opportunities within business they own. As they seek to deploy ever more capital, excess factories, housing and shopping centers are built and more and more dubious loans are made. This is overinvestment. As one banker described the events leading up to 2008 – First the banks lent all they could to those who could pay them back and then they started to lend to those could not pay them back. As cash poured into banks in ever increasing amounts, caution was thrown to the wind. For a while consumers can use credit to buy more goods and services than their incomes can sustain. Ultimately, the overinvestment results in a financial crisis that causes unemployment, reductions in factory utilization and bankruptcies all of which reduce the value of investments…”
http://seekingalpha.com/article/1543642

Dec 19, 2013 10:22pm EST  --  Report as abuse

I’m so forlorn that my opinion was unacceptable to the brilliant journalists at Reuters to post. Sorry, folks, Reuters = censorship. But that’s Europeans for ya!

Dec 19, 2013 10:38pm EST  --  Report as abuse
JamesDrouin wrote:

Let’s see … the patient’s heart and other internal organs are failing, but his / her complexion is good, so, everything’s peachy keen!!!

Dec 19, 2013 11:13pm EST  --  Report as abuse
wldtrv wrote:

At some point we might actually get the truth. There was a time when you never had to question the information you were getting. But under Obama’s care, we seem to have to question everything. Why does unemployment go down under Obama’s numbers, but more people are out of work. When you can not trust your president, its time to start the impeachment process and get a new one

Dec 19, 2013 11:38pm EST  --  Report as abuse
Leeam wrote:

I’m curious to see what happens to the housing market when Americans have to start paying the ridiculously high Obamacare premiums. It’s not easy to think about making a house payment when you’re shelling out all that extra money. I would think consumer spending as a whole is going to tank.

Dec 20, 2013 1:03am EST  --  Report as abuse

Well just wait until folks are given the choice of paying the A.C.A. premiums or making a house payment. let alone buying a home. This is the beginning of another recession.

Dec 20, 2013 1:34am EST  --  Report as abuse

Well just wait until folks are given the choice of paying the A.C.A. premiums or making a house payment. let alone buying a home. This is the beginning of another recession.

Dec 20, 2013 1:34am EST  --  Report as abuse
JSPS wrote:

So, Unemployment is up, all other indicators are down,but the economy is improving because, OBAMA!

Dec 20, 2013 1:40am EST  --  Report as abuse

Hey lottopol you should know that the fdic has 99 years to pay back money guaranteed by the FDIC. There are thousands of people still trying to collect from the last crash.

Dec 20, 2013 1:46am EST  --  Report as abuse
greggebhardt wrote:

Welcome to the obama recovery where fewer and fewer are working to support the more and more who are not. They are not even looking for a job as obama gives them enough to be comfortable!

Dec 20, 2013 6:10am EST  --  Report as abuse
mcolwell wrote:

Lets see, a few years ago it was “Give us this $787 Billion” stimulus bill and unemployment will get back to around 5%. Now 7% is considered an accomplishment

Dec 20, 2013 6:18am EST  --  Report as abuse
mike4764 wrote:

Being unemployed, broke, in debt, and without prospects: the new norm in Obama’s America. The writer of this article tried, but the truth still comes through; Obamanomics is a failure.

Dec 20, 2013 6:52am EST  --  Report as abuse
stonehillady wrote:

Only in American figures do people who run out of unemployment benefits that still haven’t found a Job are still not counted as unemployed. The college grads that have not had a job can’t get unemployment but, then again they are not counted either.
All these numbers are bogus and is one of the reasons no one trust this government or this Federal Reserve with or without Liar n’ Chief Obama.

Dec 20, 2013 7:34am EST  --  Report as abuse
Iramotus wrote:

The article is gibberish. It sounds like a 1929 redo (read what the spokesmen were saying the day before the stock market crahed). Other than housing and jobs, which are bad enough, how about looking at what a dollar buys now? We’re not too far from what might be called the Era of the Wheelbarrow Wallet (for the people who still have a paycheck).

Dec 20, 2013 7:53am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse
DanBAustin wrote:

The real meaningful employment statistic is the Labor Participation Rate. It is the percentage of working age people who actually have jobs. When the government says that the unemployment rate is down to 7%, it is mainly because they are no longer counting about 9 million people who have been out of work for so long that their unemployment checks ran out, and they are considered ‘no longer looking for work’.

The big drop in the number of people with jobs is a very easy statistic to see here:
http://data.bls.gov/timeseries/LNS11300000

Dec 20, 2013 8:39am EST  --  Report as abuse

The economy is in freefall, but you leftists idiots can’t see it because you’re all too preoccupied with kissing Obama’s arse.

Dec 20, 2013 9:15am EST  --  Report as abuse
trajan2448 wrote:

What this shallow article fails to mention is that home ownership just hit an 18 year LOW, as many of the sales are hedge funds and all cash foreign buyers, and that 4/5 of all NEW jobs since Obama took office are part time, the worst record since they started those statistics. Economy is far from brightening.

Dec 20, 2013 9:47am EST  --  Report as abuse
trajan2448 wrote:

What this shallow article fails to mention is that home ownership just hit an 18 year LOW, as many of the sales are hedge funds and all cash foreign buyers, and that 4/5 of all NEW jobs since Obama took office are part time, the worst record since they started those statistics. Economy is far from brightening.

Dec 20, 2013 9:47am EST  --  Report as abuse
trajan2448 wrote:

People like USAPragmatist2 are so utterly deluded, infantile, and morally bereft that they continue to support the sociopath in the White House whose latest award is “Liar of the Year. We have lost upward mobility in the US due to endless stagflation of printing deficit ridden dollars. The AVERAGE paycheck has lost 25% of its purchasing power under Obama, and millions are no longer even counted in the workforce, the worst 5 year record in US history, and it will only get worse.

Dec 20, 2013 9:53am EST  --  Report as abuse
1rollingstone wrote:

Another lipstick on a pig story by Reuters. 7% unemployed rate? LOL. Obama lies. Reuters lies.

The real unemployment rate……

http://www.newyorker.com/online/blogs/johncassidy/2013/09/why-the-real-unemployment-rate-is-nine-or-ten-per-cent.html

Dec 20, 2013 10:03am EST  --  Report as abuse
libsareidiots wrote:

Ohhh but according too BLS, the jobles #’s continue too fall! Its just laughable that the only thing thats been a success is the FED’s steady supply of sticky notes that prop up the banks & the stock market! Main street is dead,meanwhile the tech companies & of course all of obamas buddies are taking every dime while our veterans are having their pensions raided?? WTF people?? Wake the hell up and see whats happening! Until the sleeping giant,”thats us for the uninformed,”wakes up,& stands up too fight it,its continually gonna be the same!

Dec 20, 2013 10:14am EST  --  Report as abuse
Bakhtin wrote:

This is hilarious.

GDP grew by 4.1% in Q3

The USD is at a 5-year high against the Yen

Business spending grew by 4.8%

Consumer spending grew by 2%

Exports grew by 3.9%

Unemployment is at a 5 year low

Yet, despite all this economic growth and falling unemployment, the Republicans still insist that Obama is a failure, destroying the USA, blah blah blah.

What is the feeble excuse for that? Job growth and housing resales haven’t grown quite as much as hoped…

If Obama, with his month after month of growth, is a failure, what words describe Bush and his recession?

Dec 20, 2013 10:27am EST  --  Report as abuse
Krazytrucker wrote:

USAPragmatist2 many choices on the exchange? I had one company, count it one. So much for choices. My present company is not entering the exchange and actually pulling out of the individual market. So I had one choice. So much for competition and freedom of choice.

Dec 20, 2013 10:52am EST  --  Report as abuse

1- the U1,U2,U3 etc. rates are comparative measures, each subject to errors of measurement. Foolish to forget this.
2 – “When your neighbor is out of work, it’s a recession. When you are, it’s a depression.”
3 – I’ve run employment networking groups since 1995, through 2 minor and one (currently major) recession. This one’s different, a nearly jobless recovery. What’s different now is that unlike 1957, 1979 etc. companies can make more $$ with fewer U.S. employees, due to automation and sending jobs overseas.

Remember, corporate execs’ primary duty is to maximize shareholder value. Period. There’s little real patriotism in boardrooms these days. It doesn’t pay to give patriotism any more than PR lip service.
When the profits of Microsoft, Apple, Exxon, GE, Ford (whose doubled this year)etc. grow beyond the GDPs of some developed countries, yet their effective tax rates are in the single digits, we are in BIG trouble. Americans by and large are either purposefully ignorant about politics and economics (and history)or have drunk the kool-aid of Horatio Alger stories and “So You Want to be a Millionaire?”

My prediction, which I pray doesn’t come true, is that if we have another serious recession soon and the wealth/income gap increases much, there will be blood on the streets.

Will the “common man/woman” stop watching TV and gazing at the lottery results long enough to turn this country back to a nation “of the people, by the people and for the people”? Jury’s out.

God bless all of us, including both Tea Partiers and Obama-lovers.

Dec 20, 2013 2:45pm EST  --  Report as abuse
TheNewWorld wrote:

@Bakhtin

I know Europeans celebrate 7% unemployment, but in America that is still about twice what you would want in a healthy economy. The labor participation rate is the lowest it has ever been, if you only have 1 person in America working and no one else looking to be employed that is 0% unemployment, but that doesn’t mean things are good.

GDP growth is abysmal considering the Fed is pumping $85 billion a month into the economy. 4.1% at least makes it look worthwhile, but over the whole time of quantitative easing we are still a very sluggish economy.

I don’t blame just Obama. I blame Congress and Obama and GW Bush for the situation. Here are some other stats for you. Lowest job participation rate in the countrie’s history, highest number of people ever on food stamps, largest growth in disparity of wealth under any President. Things are not all roses. The rich are still getting theirs at the cost of the rest of us through devaluing of the US dollar by QE. Obama is the biggest sell out to Wall Street since Clinton. And if you are going to peg the recession to a President, it was Clinton’s recession because he signed the bill that made it all happen. But truthfully it was both the GOP and DNC that did that to us.

Comparing one currency against another

Dec 20, 2013 4:19pm EST  --  Report as abuse
Bakhtin wrote:

@TheNewWorld

I know this ‘labour participation rate’ is a Fox favourite (don’t deny it… it is right here -> http://fox4kc.com/2013/09/06/labor-participation-at-lowest-rate-since-1978/) so yu just have to say it, but it is nonsense. It is a demographic measure, not an economic one, as there are a thousand and one reasons for not participating in the workforce. Which is why only FoxBots keep blabbering about it ‘the real unemployment rate’.

It says a lot about your understanding of economics that you imagine that a post-recession economy should look like a no-recession recovery. Get a grip on reality – with unemployment at over 10%, businesses closed, a nobody spending, what do you expect it to do if not recover slowly?

For perspective, average growth under Bush was 2.125% from 2001 to 2008, and 2.135% from 2001 to 2004. What is your excuse for Republican’s lousy growth rate?

I see you have jumped on the Republican ‘blame Clinton’ bandwagon. Good for you. Now, how exactly did Clinton cause a recession 8 years after he left office, and why did it take 8 years?

In contrast, Bush killing the net asset rule (2004) for the big 5 banks he later bailed out was followed by an increase in sub-prime lending from under 10% to over 20%.

But lets get down to basics:

* In your opinion, is 7% unemployment better or worse than 10%?
* In your opinion is 4% growth better or worse than 5% recession?

If you think the situation now is better than when Obama took over, your whining is just pointless and partisan. If you don’t…

Dec 21, 2013 12:21am EST  --  Report as abuse
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