Unemployment Rate Drops to 4.6%

[Frodo]

Technically, we are now at full employment, further strengthening the case for a rate increase:

Solid Job Growth Strengthens Prospect for a Fed Rate Increase

By PATRICIA COHEN
DEC. 2, 2016

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[The_Doctor]

Isn't it 3.0%? But the range is 3-5%, so functionally yes.

Maybe wage growth will grow with the tightening job market but I'm curious if that will happen, given the pressure on wages. My guess is that wage growth will remain weak for the next couple of years. But I could be wrong.

[ag]

Isn't it 3.0%? But the range is 3-5%, so functionally yes.

Maybe wage growth will grow with the tightening job market but I'm curious if that will happen, given the pressure on wages. My guess is that wage growth will remain weak for the next couple of years. But I could be wrong.

Well, remember, that as soon as the wage growth picks up, the Fed will hike the rates to make sure that rise is dampened.

[The_Doctor]

Isn't it 3.0%? But the range is 3-5%, so functionally yes.

Maybe wage growth will grow with the tightening job market but I'm curious if that will happen, given the pressure on wages. My guess is that wage growth will remain weak for the next couple of years. But I could be wrong.

Well, remember, that as soon as the wage growth picks up, the Fed will hike the rates to make sure that rise is dampened.

Yeah, given inflationary fears, that's right. I had not factored that in. They are looking at December rate hike.

[Pericles]

And you had to vote for Donald Trump. Trump's plans will (hundreds of economists back me up) skyrocket the debt, cause a trade war and cost millions of jobs. Republicans, your racism and sexism blinded you to facts.

[ag]

And you had to vote for Donald Trump. Trump's plans will (hundreds of economists back me up) skyrocket the debt, cause a trade war and cost millions of jobs. Republicans, your racism and sexism blinded you to facts.

I mean, yeah, economically we all, everywhere, are going to be badly screwed. Because of that alone, aI am afraid, generations of people in the US and worldwide will be remembering 2016 as the last year ever they felt economic prosperity and  security. But, frankly, this may be the lesser of our troubles.

[Mr.Phips]

Isn't it 3.0%? But the range is 3-5%, so functionally yes.

Maybe wage growth will grow with the tightening job market but I'm curious if that will happen, given the pressure on wages. My guess is that wage growth will remain weak for the next couple of years. But I could be wrong.

Well, remember, that as soon as the wage growth picks up, the Fed will hike the rates to make sure that rise is dampened.

Which would be a very stupid thing for the fed to do.  Inflation basically isn't a thing any more.

[The_Doctor]

And you had to vote for Donald Trump. Trump's plans will (hundreds of economists back me up) skyrocket the debt, cause a trade war and cost millions of jobs. Republicans, your racism and sexism blinded you to facts.

I mean, yeah, economically we all, everywhere, are going to be badly screwed. Because of that alone, aI am afraid, generations of people in the US and worldwide will be remembering 2016 as the last year ever they felt economic prosperity and  security. But, frankly, this may be the lesser of our troubles.

Did you see Trump's tweets this morning about the 35% tariffs? I'm beginning to believe they become reality at some point during the first term…

[ag]

And you had to vote for Donald Trump. Trump's plans will (hundreds of economists back me up) skyrocket the debt, cause a trade war and cost millions of jobs. Republicans, your racism and sexism blinded you to facts.

I mean, yeah, economically we all, everywhere, are going to be badly screwed. Because of that alone, aI am afraid, generations of people in the US and worldwide will be remembering 2016 as the last year ever they felt economic prosperity and  security. But, frankly, this may be the lesser of our troubles.

Did you see Trump's tweets this morning about the 35% tariffs? I'm beginning to believe they become reality at some point during the first term…

Very likely they will. And (net) millions of jobs in the US will be lost as a direct result. As, of course, will be millions of jobs everywhere else. The guy is hell-bent on making sure he screws everybody.

[ag]

Isn't it 3.0%? But the range is 3-5%, so functionally yes.

Maybe wage growth will grow with the tightening job market but I'm curious if that will happen, given the pressure on wages. My guess is that wage growth will remain weak for the next couple of years. But I could be wrong.

Well, remember, that as soon as the wage growth picks up, the Fed will hike the rates to make sure that rise is dampened.

Which would be a very stupid thing for the fed to do.  Inflation basically isn't a thing any more.

And you want it to be?

[The_Doctor]

And you had to vote for Donald Trump. Trump's plans will (hundreds of economists back me up) skyrocket the debt, cause a trade war and cost millions of jobs. Republicans, your racism and sexism blinded you to facts.

I mean, yeah, economically we all, everywhere, are going to be badly screwed. Because of that alone, aI am afraid, generations of people in the US and worldwide will be remembering 2016 as the last year ever they felt economic prosperity and  security. But, frankly, this may be the lesser of our troubles.

Did you see Trump's tweets this morning about the 35% tariffs? I'm beginning to believe they become reality at some point during the first term…

Very likely they will. And (net) millions of jobs in the US will be lost as a direct result. As, of course, will be millions of jobs everywhere else. The guy is hell-bent on making sure he screws everybody.

Agreed. I think that this also speeds up automation, as I think many factories will just simply try to automate jobs, rather than deal with the tariffs. It will be interesting.

[ag]

And you had to vote for Donald Trump. Trump's plans will (hundreds of economists back me up) skyrocket the debt, cause a trade war and cost millions of jobs. Republicans, your racism and sexism blinded you to facts.

I mean, yeah, economically we all, everywhere, are going to be badly screwed. Because of that alone, aI am afraid, generations of people in the US and worldwide will be remembering 2016 as the last year ever they felt economic prosperity and  security. But, frankly, this may be the lesser of our troubles.

Did you see Trump's tweets this morning about the 35% tariffs? I'm beginning to believe they become reality at some point during the first term…

Very likely they will. And (net) millions of jobs in the US will be lost as a direct result. As, of course, will be millions of jobs everywhere else. The guy is hell-bent on making sure he screws everybody.

Agreed. I think that this also speeds up automation, as I think many factories will just simply try to automate jobs, rather than deal with the tariffs. It will be interesting.

Well, he could also tax R&D and prohibit education. Would, of course, move those things abroad: but would also have very salutary effects for his own electoral prospects.

[progressive85]

Thank you, President Obama.  Thank you for doing all you did to get us to this point.  The poor man just never gets any credit for anything he did.

[NeverAgain]

Thank you, President Obama.  Thank you for doing all you did to get us to this point.  The poor man just never gets any credit for anything he did.