US unemployment rate drops 0.3% to 7% - lowest in 5 years

[Tender Branson]

U.S. payrolls rose by 203,000 last month, the Labor Department said Friday. The unemployment rate dropped three-tenths of a percentage point to 7.0%, the lowest level in five years. Economists surveyed by Dow Jones Newswires had forecast nonfarm payrolls would rise by 180,000 and the unemployment rate would tick down to 7.2%. September and October payroll numbers were revised up by a combined 8,000.





http://online.wsj.com/news/articles/SB10001424052702303497804579241862778923036

[Tender Branson]

Well, it will take some more time until the "mental recession" in the heads of Americans is over.

Despite the fact that the economy is growing at a healthy pace right now, UE down, budget deficit down, stock markets up etc. - a majority of Americans is still thinking that the US is "in a recession right now".

The next 2 years are forecast to bring 2.8% and 3.5% GDP growth, which is even better than the projected 1.7% this year.

With good news coverage, the "mental recession" in the heads of Americans should then vanish by the end of Obama's 2nd term.

[Lief 🗽]

Thank you Barack Obama, for this bounty of jobs you have bestowed upon us.

[Oakvale]

More like m(ARX)orning In (MA)Ob(ENGHAZI!)(u$h)ama's NS(nowd(RONES)en)Ameri(KKK)a!!!!1

[Mr.Phips]

Well, it will take some more time until the "mental recession" in the heads of Americans is over.

Despite the fact that the economy is growing at a healthy pace right now, UE down, budget deficit down, stock markets up etc. - a majority of Americans is still thinking that the US is "in a recession right now".

The next 2 years are forecast to bring 2.8% and 3.5% GDP growth, which is even better than the projected 1.7% this year.

With good news coverage, the "mental recession" in the heads of Americans should then vanish by the end of Obama's 2nd term.

When do Americans not think that we are in a recession?  The only time this seems to have been the case was from 1997-2000 and maybe 1984-1989.  Even in during the housing bubble growth period from 2004-2006, most polls showed that a majority of Americans thought that the US was a recession.

[Holmes]

More like m(ARX)orning In (MA)Ob(ENGHAZI!)(u$h)ama's NS(nowd(RONES)en)Ameri(KKK)a!!!!1

[jaichind]

This is more or less a function of people dropping out of the labor force since the economic situation is so poor.  A better way of looking at it is the  Labor Force Participation Rate by each age bracket so we can filter out the effect of baby boomers entering into retirement age.

Labor Force Participation Rate for age 25-34: 81.5%.  Was 82.9% when the Obama regime came into office.

Labor Force Participation Rate for age 35-44: 82.3%.  Was 84.1% when the Obama regime came into office.

Labor Force Participation Rate for age 45-54: 79.6%.  Was 82.0% when the Obama regime came into office.

Labor Force Participation Rate for age 55-64: 63.9%.  Was 65.3% when the Obama regime came into office.

So overall, for people in working age brackets, the labor force participation is around 2% lower today as in early 2009 which was already dropping quickly from its peak in early 2008 due to the onset of the recession.  5 years after the start of the "Obama recovery" we are still 2% lower in terms of labor force participation for people in prime working age.

The only "bright spot" of the  labor force participation rate since 2009 is the rate for people 65 and older.  It rose from 17.1% to 18.6% which is more a function of the people who should be in retirement but had to work due to low income from fixed income which in turn is a function of the poor economy that led to near zero interest rates.

[Indy Texas]

This is more or less a function of people dropping out of the labor force since the economic situation is so poor.  A better way of looking at it is the  Labor Force Participation Rate by each age bracket so we can filter out the effect of baby boomers entering into retirement age.

Labor Force Participation Rate for age 25-34: 81.5%.  Was 82.9% when the Obama regime came into office.

Labor Force Participation Rate for age 35-44: 82.3%.  Was 84.1% when the Obama regime came into office.

Labor Force Participation Rate for age 45-54: 79.6%.  Was 82.0% when the Obama regime came into office.

Labor Force Participation Rate for age 55-64: 63.9%.  Was 65.3% when the Obama regime came into office.

So overall, for people in working age brackets, the labor force participation is around 2% lower today as in early 2009 which was already dropping quickly from its peak in early 2008 due to the onset of the recession.  5 years after the start of the "Obama recovery" we are still 2% lower in terms of labor force participation for people in prime working age.

The only "bright spot" of the  labor force participation rate since 2009 is the rate for people 65 and older.  It rose from 17.1% to 18.6% which is more a function of the people who should be in retirement but had to work due to low income from fixed income which in turn is a function of the poor economy that led to near zero interest rates.

Seriously jaichind, cut the "regime" crap. This is a democracy and we don't have "regimes." If you can't grasp the significance of that word, go back to China or wherever you're from and see what a real "regime" is.

[opebo]

When do Americans not think that we are in a recession?  The only time this seems to have been the case was from 1997-2000 and maybe 1984-1989.  Even in during the housing bubble growth period from 2004-2006, most polls showed that a majority of Americans thought that the US was a recession.

That's because for the last 35 years the condition of the vast majority of Americans has been in steady decline, 'good times' or bad.

[Ban my account ffs!]

This is more or less a function of people dropping out of the labor force since the economic situation is so poor.  A better way of looking at it is the  Labor Force Participation Rate by each age bracket so we can filter out the effect of baby boomers entering into retirement age.

Labor Force Participation Rate for age 25-34: 81.5%.  Was 82.9% when the Obama regime came into office.

Labor Force Participation Rate for age 35-44: 82.3%.  Was 84.1% when the Obama regime came into office.

Labor Force Participation Rate for age 45-54: 79.6%.  Was 82.0% when the Obama regime came into office.

Labor Force Participation Rate for age 55-64: 63.9%.  Was 65.3% when the Obama regime came into office.

So overall, for people in working age brackets, the labor force participation is around 2% lower today as in early 2009 which was already dropping quickly from its peak in early 2008 due to the onset of the recession.  5 years after the start of the "Obama recovery" we are still 2% lower in terms of labor force participation for people in prime working age.

The only "bright spot" of the  labor force participation rate since 2009 is the rate for people 65 and older.  It rose from 17.1% to 18.6% which is more a function of the people who should be in retirement but had to work due to low income from fixed income which in turn is a function of the poor economy that led to near zero interest rates.

Seriously jaichind, cut the "regime" crap. This is a democracy and we don't have "regimes." If you can't grasp the significance of that word, go back to China or wherever you're from and see what a real "regime" is.

He's from Taiwan.  Real democracy isn't big on his agenda.  Only money.

[Beet]

This is more or less a function of people dropping out of the labor force since the economic situation is so poor.  A better way of looking at it is the  Labor Force Participation Rate by each age bracket so we can filter out the effect of baby boomers entering into retirement age.

Labor Force Participation Rate for age 25-34: 81.5%.  Was 82.9% when the Obama regime came into office.

Labor Force Participation Rate for age 35-44: 82.3%.  Was 84.1% when the Obama regime came into office.

Labor Force Participation Rate for age 45-54: 79.6%.  Was 82.0% when the Obama regime came into office.

Labor Force Participation Rate for age 55-64: 63.9%.  Was 65.3% when the Obama regime came into office.

So overall, for people in working age brackets, the labor force participation is around 2% lower today as in early 2009 which was already dropping quickly from its peak in early 2008 due to the onset of the recession.  5 years after the start of the "Obama recovery" we are still 2% lower in terms of labor force participation for people in prime working age.

The only "bright spot" of the  labor force participation rate since 2009 is the rate for people 65 and older.  It rose from 17.1% to 18.6% which is more a function of the people who should be in retirement but had to work due to low income from fixed income which in turn is a function of the poor economy that led to near zero interest rates.

Seriously jaichind, cut the "regime" crap. This is a democracy and we don't have "regimes." If you can't grasp the significance of that word, go back to China or wherever you're from and see what a real "regime" is.

He's from Taiwan.  Real democracy isn't big on his agenda.  Only money.

Taiwan is a democracy.

I suppose Deroy Murdock is Chinese too?
http://www.nationalreview.com/article/356514/obama-regime-deroy-murdock

jaichind's use of that silly term is a result of his extreme right wingism; it has nothing to do with his ethnicity.