Stockholm DL: Cooper win, Werro 1:53.98!
Watch on Youtube

Recession? No! US Economy posts lowest unemployment rate in 50 years.

Non-Running
Reply
Moderation
1 3 4 5 7
Next

  • PCRF-Guy

    Member since 10/08/2021.

    1,171 posts. Last post 3 weeks ago.
    3 years ago 08/06/2022 9:38am EDT
    re: AlohaState

    AlohaState wrote:

    Obama’s stimulus was for temporary infrastructure jobs after a period of complete decimation of the middle class, especially manufacturing. Don’t forget NAFTA. Also during his tenure companies like Microsoft were laying off tens of thousands of American workers and hiring workers overseas. Companies moved abroad to avoid high taxes. I spent a lot of time in Ireland at that time, for work. I saw it firsthand.

    Fair enough points. I actually agree with your post. My point wasn’t so much ‘praise’ for Obama, as it was ‘criticism’ for Trump. Obama’s economic policies were basically the same as Bill Clinton’s (he also had essentially the same economic advisors… so moderate, corporate, free trade Democratic policy).
    But Trump just blew through money, and economic growth for the first 3 years was identical to the trends of Obama’s second term. (I’m ignoring the 4th year, because that was warped by the pandemic, and ANY President would’ve had massive job losses regardless).

  • registered

    OH...TX

    Member since 07/31/2020.

    1,676 posts. Last post 1 year ago.
    3 years ago 08/06/2022 11:40am EDT
    re: SouthernmostIllini

    SouthernmostIllini wrote:

    Charlie Bronson wrote:

    And lowest employment rate as a percentage of total population since women were barefoot and pregnant in the kitchen. Hurray!

    A rate is a percentage so your first sentence is gibberish. And the labor force participation rate is well below pre pandemic numbers. So technically incorrect.

    The labor force participation rate includes people who are on unemployment and looking for work in the labor force. I know fox news has convinced you that this metric is politically important, but all it tells you is what % of the population wants to be working. When the adult population gets older, the rate will drop. Most people don't want to work when they are in their 80s and 90s.

    Also, the rate is down like 1% from before the pandemic. Not exactly a massive drop.

  • just a dead gorilla

    Harambe

    Member since 08/11/2016.

    21,814 posts. Last post 2 days ago.
    3 years ago 08/07/2022 11:23pm EDT
    re: OH...TX

    OH...TX wrote:

    SouthernmostIllini wrote:

    A rate is a percentage so your first sentence is gibberish. And the labor force participation rate is well below pre pandemic numbers. So technically incorrect.

    The labor force participation rate includes people who are on unemployment and looking for work in the labor force. I know fox news has convinced you that this metric is politically important, but all it tells you is what % of the population wants to be working. When the adult population gets older, the rate will drop. Most people don't want to work when they are in their 80s and 90s.

    Also, the rate is down like 1% from before the pandemic. Not exactly a massive drop.

    Apparently these people think we should force retirees back to work to get the labor force participation rate back up.

  • this is it

    Member since 01/20/2019.

    2,095 posts. Last post 2 weeks ago.
    3 years ago 08/08/2022 4:24am EDT
    re: Harambe

    Harambe wrote:

    Apparently these people think..

    Ok Ima stop you right there.

  • joedlrty

    Anonymous Poster

    3 years ago 08/15/2022 1:09pm EDT
    re: USA! USA

    USA! USA wrote:

    An imminent Recession seems unlikely as the job market stays red hot.

    Discus.

    Still not a recession? NAHB thinks so:

    msn.com
    Housing Market Recession Is Here: Home Builders Slash Prices As Buyers Cancel Contracts, Mortgage Rates Rise
    Home builders may need to impose "hefty" price cuts to manage excess inventory as sentiment collapses to a two-year low, one economist says.
    Open link

    Manufacturers think so:

    msn.com
    New York Empire State factory gauge plunges in August deep into contraction territory
    The New York Fed’s Empire State business conditions index plummeted 42 points to negative 31.3 in August, the regional Fed bank said Monday.
    Open link

    Seems the only people that think we are not in a recession are the Democrats.

  • registered

    Kind of Old

    Member since 06/12/2019.

    147 posts. Last post 1 week ago.
    3 years ago 08/15/2022 2:31pm EDT
    re: USA! USA

    We can be in a recession with low unemployment. A recession means less is being produced, not how many it takes to do it. In the second quarter labor productivity showed its sharpest decline since 1948. Some companies are hiring extra workers just to make up for all the attendance issues. I know a lot of retired people that missed less than 1 day per year during their working careers, not that good for most new workers. But a lot of workers now change jobs a lot more, so maybe less loyalty from both workers and employers. Another factor is the aging population means less workers to fill the jobs that are there.

  • joedlrtty

    Anonymous Poster

    3 years ago 08/24/2022 12:01am EDT
    re: USA! USA

    Still think there's no recession?

    msn.com
    US business activity falls at its fastest rate since May 2020
    Business activity at private US companies in early August dropped off at some of the sharpest rates seen since the beginning of the pandemic as rising interest rates and high inflation crimped consumer spending, according to...
    Open link

    CNN said it, so it must be true.

  • registered

    LydiaRuns

    Member since 08/24/2022.

    36 posts. Last post 3 years ago.
    3 years ago 08/24/2022 9:27am EDT
    re: USA! USA

    These are not new jobs. These are all jobs that were lost because of COVID. People are getting their jobs back, we still have a ways to go.

  • Wrong again dirt

    Anonymous Poster

    3 years ago 08/24/2022 10:39am EDT
    re: joedlrty

    joedlrty wrote:

    USA! USA wrote:

    An imminent Recession seems unlikely as the job market stays red hot.

    Discus.

    Still not a recession? NAHB thinks so:

    Link:www.msn.com/en-us/money/realestate/hou...

    Manufacturers think so:

    Link:www.msn.com/en-us/money/markets/new-yo...

    Seems the only people that think we are not in a recession are the Democrats.

    The non-partisan National Bureau of Economic Research decide. They decide when the President in the White House is a Republican and they decide when the President in the White House is a Democrat.

    thehill.com
    Is there a recession? Only the National Bureau of Economic Research gets to decide
    iswanson
    Commerce Department data this week found the U.S. economy shrank for a second quarter in a row, sparking a new debate about whether the nation is in a recession. Negative growth in two …
    Open link

  • just a dead gorilla

    Harambe

    Member since 08/11/2016.

    21,814 posts. Last post 2 days ago.
    3 years ago 08/24/2022 1:37pm EDT
    re: Wrong again dirt

    A bit funny the people are desperate to claim there is a recession because... politics.

    Sadly, the economy is only going to get better until the midterms.

  • joedlrtty

    Anonymous Poster

    3 years ago 08/24/2022 1:57pm EDT
    re: Harambe

    Harambe wrote:

    A bit funny the people are desperate to claim there is a recession because... politics.

    Sadly, the economy is only going to get better until the midterms.

    The funny thing is that the Dems continue to deny the economic reality by desperately trying to do things like redefine recession. The economy is not going to get better. People are burning through money they don't have, interest rates continue to rise and production continues to fall. You are grasping at straws.

  • China Joe

    Anonymous Poster

    3 years ago 08/24/2022 2:01pm EDT
    re: joedlrt

    joedlrt wrote:

    Georgia Boy wrote:

    528,000 new jobs….doubling expectations

    Unemployment rate is 3.5%

    Gas prices in my city have dropped by 65 cents per gallon in the last 2 weeks.

    Yet this country is heading in the wrong direction. 🤔🤔🤔🤔🤔

    Link:www.usatoday.com/story/money/2022/08/0...

    Gas prices are declining because consumption is declining. Consumption is declining because we have had two consecutive quarters of negative GDP growth. The reason unemployment is so low and everything costs so much is because the economy is over stimulated (primarily due to the American Rescue Plan, which was not needed). The last thing the economy needs right now is another government spending plan like the Inflation Reduction Act.

    What you are missing is the tremendous loss in wealth that has hit the middle class in the past six months. Unemployment is low, but wages are not keeping up with inflation, which has resulted in a reduction in personal savings, an increase in household debt, an increase in foreclosures, etc. The stock market is down about 15-30% at a time when prices have increased close to 10% (meaning people who were invested in stocks (which is most middle class Americans) effectively have 25-40% less wealth in their retirement accounts than a year ago when adjusted for inflation. Their homes are likely worth far less than a year ago (especially when adjusted for inflation), primarily due to rising interest rates (which are pushing up mortgage rates). In summary: Unemployment may be low (for now), but everything you own is likely worth about 15-30% less than it was a year ago due to the effects of inflation. The middle class is getting absolutely hammered and you are cheering it on.

    So in much less words: having a job doesn't mean sh!t if your money is worth less

  • Some old coach

    Anonymous Poster

    3 years ago 08/24/2022 8:10pm EDT
    re: Flagpole

    Flagpole wrote:

    USA! USA wrote:

    An imminent Recession seems unlikely as the job market stays red hot.

    Discus.

    I accept the much better definition of a recession (NOT just the NBER telling us so) which is two consecutive quarters of negative GDP growth.

    I stick to this definition no matter who is in the White House and no matter what other conditions exist.

    Why is two consecutive quarters of negative GDP growth a better definition:

    1) It is immediately known if we are in one. NBER can take MONTHS to declare if we were in a recession or not.

    2) There is no subjectivity. We either are in one or we aren't.

    3) There can't be an anomaly of an economic indicator that either keeps us out of a recession or puts us into one like is the case with the NBER.

    What the NBER does is a deeper dive into how the economy is doing, but again, it's not that helpful to find out MONTHS later, AND we shouldn't decide that a "recession" means the economy is in a horrible state. Some recessions are shallow. Some, like this one, have a terrific unemployment rate.

    A recession is simply two consecutive quarters of negative GDP growth. That's it.

    First post you have made that makes sense. We are definitely in a recession.

    As to the OP, unemployment is not low because people are working. Everywhere is understaffed. They are understaffed because people are not working. not because of any other silly reason you may want to make up.

  • Monkey see monkey due

    Anonymous Poster

    3 years ago 08/24/2022 8:26pm EDT
    re: joedlrtty

    joedlrtty wrote:

    Harambe wrote:

    A bit funny the people are desperate to claim there is a recession because... politics.

    Sadly, the economy is only going to get better until the midterms.

    The funny thing is that the Dems continue to deny the economic reality by desperately trying to do things like redefine recession. The economy is not going to get better. People are burning through money they don't have, interest rates continue to rise and production continues to fall. You are grasping at straws.

    I don’t see any evidence for this in the past few months. The major economic talking points like gas prices and stock market indicators have been improving for months. Polling on “the economy” is improving!

    Posters are looking to odd conglomerate statistics to try and force the economy to look like it’s still getting worse… but the word in Main Street says otherwise.

  • Monkey see monkey due

    Anonymous Poster

    3 years ago 08/24/2022 8:28pm EDT
    re: Some old coach

    Some old coach wrote:

    First post you have made that makes sense. We are definitely in a recession.

    As to the OP, unemployment is not low because people are working. Everywhere is understaffed. They are understaffed because people are not working. not because of any other silly reason you may want to make up.

    So how is unemployment low and people are not working? The labor force has shrunk but unemployment factors that in.

    Fewer people that want to work can’t find a job than at virtually any point in the last hundred years. That’s an excellent marker for a strong economy.

  • Monkey see monkey due

    Anonymous Poster

    3 years ago 08/24/2022 8:29pm EDT
    re: China Joe

    China Joe wrote:

    So in much less words: having a job doesn't mean sh!t if your money is worth less

    You’re welcome to quit your job and make $0 if you believe it’s equivalent.

  • FRCP-yuG

    Anonymous Poster

    3 years ago 08/24/2022 8:46pm EDT
    re: PCRF-Guy

    PCRF-Guy wrote:

    AlohaState wrote:

    Obama’s stimulus was for temporary infrastructure jobs after a period of complete decimation of the middle class, especially manufacturing. Don’t forget NAFTA. Also during his tenure companies like Microsoft were laying off tens of thousands of American workers and hiring workers overseas. Companies moved abroad to avoid high taxes. I spent a lot of time in Ireland at that time, for work. I saw it firsthand.

    Fair enough points. I actually agree with your post. My point wasn’t so much ‘praise’ for Obama, as it was ‘criticism’ for Trump. Obama’s economic policies were basically the same as Bill Clinton’s (he also had essentially the same economic advisors… so moderate, corporate, free trade Democratic policy).
    But Trump just blew through money, and economic growth for the first 3 years was identical to the trends of Obama’s second term. (I’m ignoring the 4th year, because that was warped by the pandemic, and ANY President would’ve had massive job losses regardless).

    LOL! Between you and Idiotpole, I don't know who is worse? Before the pandemic, unemployment was at record low levels due to 3 years of Trump, NOT Obama. You libs either downright lie or gloss over the truth with broad strokes. Trump blew through money? Try Econ 101 brainfarter. Before the virus the stock market and unemployment were in GREAT shape. Reverse the situation and put Obama's name or Biden's name where Trump is and then "they are geniuses man, amazing geniuses!". It's to funny seeing the same people post the same crap on every thread. Flagpole either states the obvious and pawns it off as his own, lies, or talks out both ends. To be honest, it's great entertainment as the top 3 libs on these threads are morons:)

  • FRCP-yuG

    Anonymous Poster

    3 years ago 08/24/2022 8:50pm EDT
    re: Monkey see monkey due

    Monkey see monkey due wrote:

    Some old coach wrote:

    First post you have made that makes sense. We are definitely in a recession.

    As to the OP, unemployment is not low because people are working. Everywhere is understaffed. They are understaffed because people are not working. not because of any other silly reason you may want to make up.

    So how is unemployment low and people are not working? The labor force has shrunk but unemployment factors that in.

    Fewer people that want to work can’t find a job than at virtually any point in the last hundred years. That’s an excellent marker for a strong economy.

    Fewer people? Try mega amounts don't want to work, period. You do realize that lots of slackers like you are still on unemployment, don't ya? After a period of time, they are removed from the stats, aka they don't count, as they aren't seeking employment. Biden has done jack squat to the economy but F it up by trying to buy votes. IF Trump did the same thing, you'd all be on here saying that he's buying votes, but you wimpy weasels won't dare bring that up as you sh*t your pants with facts;)

  • Monkey see monkey due

    Anonymous Poster

    3 years ago 08/24/2022 9:37pm EDT
    re: FRCP-yuG

    FRCP-yuG wrote:

    Monkey see monkey due wrote:

    So how is unemployment low and people are not working? The labor force has shrunk but unemployment factors that in.

    Fewer people that want to work can’t find a job than at virtually any point in the last hundred years. That’s an excellent marker for a strong economy.

    Fewer people? Try mega amounts don't want to work, period. You do realize that lots of slackers like you are still on unemployment, don't ya? After a period of time, they are removed from the stats, aka they don't count, as they aren't seeking employment. Biden has done jack squat to the economy but F it up by trying to buy votes. IF Trump did the same thing, you'd all be on here saying that he's buying votes, but you wimpy weasels won't dare bring that up as you sh*t your pants with facts;)

    Simple Google for federal stats shows that there are fewer unemployment insurance claims now than pre-pandemic lows…

    Total labor force is roughly 1MM (fewer than 1%) people less than it was pre-pandemic. So there’s not some huge loss of labor pool.

    fred.stlouisfed.org
    Civilian Labor Force Level
    Civilian Labor Force Level
    Open link

    IDK man seems like you’re just making stuff up?

    Pretty weak attempt.

  • registered

    CrispyChicken

    Member since 11/21/2020.

    2,507 posts. Last post 2 years ago.
    3 years ago 08/24/2022 10:27pm EDT
    re: USA! USA

    If the economy is so great, why can't the frigging deadbeats payoff their student loans?

1 3 4 5 7

Jump To A Page

Next Last
What People Are Talking About On LetsRun
No top threads at the moment. Check back soon.
New Forum Moderation Information & Rules Search Troubleshooting

This thread has already been deleted.

Note: We review 100% of reports submitted. Visit our moderation dashboard to view statistics on our moderating activity. If you have a question or concern, email us at letsrun@letsrun.com or call us at our toll-free phone number:

1-844-LETSRUN (1-844-538-7786).

Author
Body
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?
What forum rule may this post have broken?

View our Terms Of Service for a complete description of our forum policies.

Provide context for this post report if relevant.

Reply Replying to

Leave the password field blank to post anonymously.

Post Preview
By posting you acknowledge that you have read and abide by our Terms and Conditions.

Message Board