July US unemployment rate up to 6.2%, about 209.000 jobs created

[King]

Gallup's unemployment rate has gone down from 6.7 to 6.4 this month, and underemployment from 16.4 to 15.2.

So yeah 5.8 for BLS sounds about right.

[King]

Job growth during tapering has been an interesting counterfactual. It seems that corporations cannot assume higher margins or stronger per customer sales/margins so they are hiring to expand their operations.

The only thing worse than less jobs is more jobs.

[King]

Who would you rather hire? A 65 years old, who has government-provided health insurance and income subsidies, or a 25 year old, with no experience who makes somewhat unreasonable salary and benefit demands because he needs to pay off educational debt, pay off a mortgage, and raise a family.

1. The number of 25 year olds in 2014 with all of a college education, a home mortgage, no health insurance, and a family to raise can probably be counted on one hand.

2. Adding a 65 year old to your business is a far worse hire, of course. A 65 year old in quality employment now has not been "hired" by anybody, they're just continuing to work. Nobody in their right mind would ever make a new hire, who they want to last a few years, a senior unless it's for Wal-Mart greeting.

[King]

AD always talks about data but whenever asked to deliver it in specifics he just says "look it up yourself."

[King]

Labor force participation grew by 300,000. It would've likely been your predicted U% if not for that.

It should be noted that even in boom years like 2006 and 1999, LBP usually goes down in July and August as students prepare to return to school.