Current Events > The US economy continues to boom as unemployment falls to 3.9%

(+) Yeah! (+)

https://www.marketwatch.com/story/us-gains-157000-jobs-in-july-unemployment-falls-to-39-2018-08-03

The U.S. added 157,000 new jobs in July to nudge the unemployment rate below 4% again in another solid showing for a surging economy. The increase was below the 194,000 MarketWatch estimate, but hiring in June and May was stronger than previously reported. The unemployment rate, meanwhile, dipped to 3.9% from 4%. The average wage paid to American workers rose by 7 cents, or 0.3%, to $27.05 an hour. The yearly rate of pay increases was unchanged at 2.7%. Employment gains for June and May were revised up by a combined 59,000, the Labor Department said Friday. The government said 248,000 new jobs were created in June instead of 213,000. May's increase was raised to 268,000 from 244,000.

Prettay, prettay, prettay good!
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my portfolio just hit 20 million

life is GOOD
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CNN is going to blow an aneurysm.
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Based trump
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lowest unemployment in 50 years, but still no real wage growth
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But have you heard about Russia

We just cant stop winning! #MAGAtrain
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Balrog0 posted...

lowest unemployment in 50 years, but still no real wage growth

But at least people can now work shitty jobs. Unemployment is a very limited view of economic health but well late the Trump humpers relish I guess.
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Amazing how Trump toadies don't care anymore about the "numbers not being true" from the same sources which reported them under Obama.

And yeah, this doesn't mean squat when wages are still stagnant
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Balrog0 posted...

lowest unemployment in 50 years, but still no real wage growth

Ugh its never enough, you poors want everything. womp ****ing womp
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Didn't take long for the liberals to come in and shit on a good thing.
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Please dont shit on TCs topic with your reality, k thanks
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"living wage" aka "nice house, car, clothes, electronics, fine dining every night wage"
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voldothegr8 posted...

Didn't take long for the liberals to come in and shit on a good thing.

Pointing out reality is "shitting on a good thing"? Did you want a safe space to celebrate this isolated statistic with zero regard for anything else?

Balrog0 posted...

lowest unemployment in 50 years, but still no real wage growth

i'm not even surprised

i still maintain that a combination of obama-era monetary policy and trump-era deregulation/tax-cuts and consequent optimism is responsible for this current economic zeitgeist and that's not sustainable and overdue for a catastrophic correction
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voldothegr8 posted...

Didn't take long for the liberals to come in and shit on a good thing.

I'm sure the people making minimum wage for the last decade will be happy to know there's more service jobs open for them at the same rate
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XD Im not a liberal. Liberalism is too authoritarian for my liking.
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I saw this article a few weeks ago that I'm trying to find again saying that business owners were upset they might actually have to pay a fair market value for wages, lol

The Great Muta 22 posted...

Amazing how Trump toadies don't care anymore about the "numbers not being true" from the same sources which reported them under Obama.

And yeah, this doesn't mean squat when wages are still stagnant

i thought the sky was falling six years ago as a liberal and i stand by my past assertions even now as a conservative

something really isn't adding up and trump claiming to own the entirety of this economy might be politically convenient now but it's going to prove to be political suicide in the long run
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I got an above average raise this year tbh I am doing just fine personally

but wages in general aren't keeping up with inflation. it's not like I'm blaming Trump, this is a structural issue with our economy that predates him
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The Great Muta 22 posted...

I'm sure the people making minimum wage for the last decade will be happy to know there's more service jobs open for them at the same rate

Good wages <-> High immigration
Pick one.
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the only labor shortage is in the shitty jobs nobody wants. everyone wants a job where when someone asks what they do they are proud of their answer but those jobs are in short supply

Balrog0 posted...

but wages in general aren't keeping up with inflation. it's not like I'm blaming Trump, this is a structural issue with our economy that predates him

Probably why the economy is doing so well

Unless those jobs can support a basic living then it doesn't matter.
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Rimmer_Dall posted...

The Great Muta 22 posted...

I'm sure the people making minimum wage for the last decade will be happy to know there's more service jobs open for them at the same rate

Good wages <-> High immigration
Pick one.

Wages are still stagnant under Trumps limited immigration. You can't keep using this excuse
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newtonwuzvirgin posted...

"living wage" aka "nice house, car, clothes, electronics, fine dining every night wage"

to be fair a sensible living wage might actually manage to cover those kinds of things if the cost of domestic production wasn't obscenely inflated by heaps of red tape

zoning inflates the value of housing - just look at the bay area

clothes and electronics would be far cheaper if produced here at a similar price by virtue of the fact that it wouldn't need to be shipped from overseas manufacturers and all the expenses and complexities associated with that

dining - and any kind of business that depends on having a physical presence like stores and factories - would be less expensive if restaurants didn't have to deal with property taxes, never mind the aforementioned red tape affecting costs along the entire supply chain
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trump SAVED america and liberals still won't give him credit
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TheMikh posted...

dining - and any kind of business that depends on having a physical presence like stores and factories - would be less expensive if restaurants didn't have to deal with property taxes, never mind the aforementioned red tape affecting costs along the entire supply chain

I can't remember where I read this, but apparently people used to eat out quite a bit when flop houses and other low-income housing were still legal. Sort of a trade off between having to pay for a kitchen and just being able to dine out (which was admittedly cheaper due to lower regulatory burdens on that end as well)
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Sad to see so many people leaving the work force...
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Were_Wyrm posted...

Sad to see so many people leaving the work force...

The unemployment rate is going down for the right reasons, I think labor force participation might be up slightly even
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HydraSlayer82 posted...

Balrog0 posted...

lowest unemployment in 50 years, but still no real wage growth

But at least people can now work shitty jobs. Unemployment is a very limited view of economic health but well late the Trump humpers relish I guess.

This is so much worse than the stagflation of the past ten years.
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The Great Muta 22 posted...

Rimmer_Dall posted...

The Great Muta 22 posted...

I'm sure the people making minimum wage for the last decade will be happy to know there's more service jobs open for them at the same rate

Good wages <-> High immigration
Pick one.

Wages are still stagnant under Trumps limited immigration. You can't keep using this excuse

immigration most radically suppresses wages in border areas; elsewhere, it's far less pronounced

the real beast is a saturated market for underskilled labor because education for skilled labor is both unnaturally inflated in price due to decades of indirect federal subsidization and because education for skilled labor doesn't actually prepare most for skilled labor

that and my previous point about how wage stagnation is a distraction from unnatural price inflation
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When Obama was in office, liberals would rave about the unemployment rate.
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My uncle was visiting yesterday and was pissed as fuck that they can't get enough people to join the carpenters union, and the kids they do get to join are all lazy as fuck lol

It's fucked up, cause like 4 years ago they wouldn't take me and now that they will I'm fucking disabled :(
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newtonwuzvirgin posted...

When Obama was in office, liberals would rave about the unemployment rate.

concerns about the "real" unemployment rate were as relevant then as they are now
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TheMikh posted...

the real beast is a saturated market for underskilled labor because education for skilled labor is both unnaturally inflated in price due to decades of indirect federal subsidization and because education for skilled labor doesn't actually prepare most for skilled labor

imo its mostly attributable to a level of risk aversion that employers have with respect to labor costs which is itself probably attributable to market consolidation

it's more profitable to keep wages low and prop up your stock prices through buybacks and whatever else than it is to actually compete or improve your business
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How many of them decent pay? probably like 20 percent of that.

https://www.youtube.com/watch?v=8bl19RoR7lc" data-time="
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Corman321 posted...

But have you heard about Russia

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Really I'm glad our economy is continuing to get better and I feel that the people on the left who want it to get worse to stick it to Trump are wrong. Just like the people who pretend that it wasn't Obama who started the recovery and well keeping something going well is great but fixing a problem and setting us on track deserves credit too. Don't ignore Trump or Obama give both of them credit. That is something both sides fail to do.
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-Bungle- posted...

Corman321 posted...

But have you heard about Russia

Unrelated. If Trump and his administration teamed up with Russia to get him in office they should be punished. It shouldn't be ignored because our economy is thriving. Crimes shouldn't be ignored because of the good things happening by criminals.
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Trumpo posted...

How many of them decent pay? probably like 20 percent of that.

A job is a job. Which happens to be the most effective welfare program. Major cities aside just about anyone can have food and shelter working full time on minimum wage. Luxuries might be baron but that's life. If you want them seek self betterment, of which there are numerous paths in America.
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voldothegr8 posted...

Trumpo posted...

How many of them decent pay? probably like 20 percent of that.

A job is a job. Which happens to be the most effective welfare program. Major cities aside just about anyone can have food and shelter working full time on minimum wage. Luxuries might be baron but that's life. If you want them seek self betterment, of which there are numerous paths in America.

You're the type that considers owning a car as a luxury
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Balrog0 posted...

TheMikh posted...

dining - and any kind of business that depends on having a physical presence like stores and factories - would be less expensive if restaurants didn't have to deal with property taxes, never mind the aforementioned red tape affecting costs along the entire supply chain

I can't remember where I read this, but apparently people used to eat out quite a bit when flop houses and other low-income housing were still legal. Sort of a trade off between having to pay for a kitchen and just being able to dine out (which was admittedly cheaper due to lower regulatory burdens on that end as well)

dining out is a time-saving convenience, which the economically disadvantaged tend to have far less of (aside from more demanding forms of skilled occupations), so i'm not even surprised
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Obummer must be so jelly that President Trump found the "magic wand"
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Balrog0 posted...

TheMikh posted...

the real beast is a saturated market for underskilled labor because education for skilled labor is both unnaturally inflated in price due to decades of indirect federal subsidization and because education for skilled labor doesn't actually prepare most for skilled labor

imo its mostly attributable to a level of risk aversion that employers have with respect to labor costs which is itself probably attributable to market consolidation

it's more profitable to keep wages low and prop up your stock prices through buybacks and whatever else than it is to actually compete or improve your business

i'm not even surprised

barriers to competition are imo the big culprit here, otherwise buybacks really would not be a particularly sustainable strategy
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