US Unemployment Lowest Since 1969 & Lows For African American Unemployment

[Economy 52,844]

19 hours ago, Postboy said:

I’m skeptical about the quality of jobs that are being created. I think it’s superficial. 

I like how this article tries to make it seem seem even better but stating that wages are rising, when in reality wages are no where near what they should be.  

 

And the audacity of Trump to try to take credit for this. He’s such a ****ing clown. 

This. Read my comment above ^^^^cuz I don't wanna type it again

[SolidSnake 2,804]

1 hour ago, Economy said:

This. Unemployment rate is only one factor to consider. Many other measurements of the economy prove that it isn't the best it's been since the 60s

 

The unemployment rate doesn't tell you if people are working part time at McDonald's for minimum wage or at full time in high tech firm for $25/h or more making tones of money. We have to look at

 

- Labor Force participation Rate

- full-time vs partime

- median income (not average because the very wealthy artificially raise average) in relation to cost of living

 

All that counts. The unemployment rate being low is good but that's just 1 battle in building economic prosperity

This ^ there are so many different factors that the unemployment rate is almost meaningless right now unless it gets TOO high. 

[GeoDude 199]

21 hours ago, SolidSnake said:

Not exactly good news when people still cant afford to live. The average wage has not grown. 

http://observer.com/2018/05/federal-reserve-economist-exlpains-misleading-low-unemployment-rate/


 

Exactly what I was thinking!

Unemployment rate might be low but the quality of jobs in the u.s is complete trash. Avarage wage has not grown and cost of living continues to rise. 

I have an education and decent job, still cant afford to rent a 2 bedroom apartment in CA. 

[Economy 52,844]

On 2018-06-01 at 2:29 PM, GypsyBabe said:

Exactly. This is a result of President Obama, and Trump is trying to take all the credit. 

Tbh I don't think it's really a result of Obama either. 

 

He didn't revolutionize trade deals, the tax or regulatory system or benefits system enough to explain this. Yes he did change a few policies particularly with health coverage for a portion of Americans but not enough to create an economic boom

 

I think this has more to do with 3 things:

 

1. The severe downturn in 2008 forced develeraging and other imbalances to correct themselves and so a strong foundation for growth was laid out

 

2. Fracking technology has created hundreds of thousands of high paying job in energy sector. This energy boom has reduced energy import costs and also helped manufacturing that supplies shale drillers with equipment. This economic bonus came due to technology not because of President Obama

 

3. The aging population and more retired people has reduced the labor force participation rate. It makes the unemployment rate seem low but the actual employment rate (percentage of people working and creating economic activity) lower and for economic output that's what really matters

 

Obama wasn't by any means a bad President but I wouldn't really give him most of the credit for the unemployment rate either