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U.S. Added 207,000 In July, Better Than Expected  
User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17420 posts, RR: 46
Posted (9 years 2 weeks 3 days 18 hours ago) and read 1939 times:

The terrible economy continues  Silly

http://www.nytimes.com/2005/08/05/bu...355dfea89&ei=5094&partner=homepage

"The American economy added 207,000 jobs in July, the government reported today, as retailers, hospitals and restaurants added thousands of new employees.

A strong performance by service-sector businesses drove the increase, which beat economists' expectations of 180,000 jobs. So far this year, the economy has added 1.3 million jobs. By comparison, businesses created 2.2 million jobs for all of 2004.

The unemployment rate stayed unchanged at 5 percent, as expected.

Manufacturers shed 4,000 jobs in July, the fifth straight month that the sector has lost employment. Construction, by contrast, added 7,000 jobs, keeping up a blistering growth pace.
"

May and June were also revised upwards since payroll gains were larger than previously thought.


E pur si muove -Galileo
86 replies: All unread, showing first 25:
 
User currently offlineDL021 From United States of America, joined May 2004, 11447 posts, RR: 75
Reply 1, posted (9 years 2 weeks 3 days 18 hours ago) and read 1926 times:
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More propaganda about sorry jobs that we should not even be forced to work.

Where are those IT jobs that paid us $70k per year out of startup capital?


1.3million jobs.... man, I'd say that's hard to argue with, but someone here will do it.

I will say that I would like to see unions ease up a little and incentivize US companies to re-open manufacturing here in the states.

As it is many of the manufacturers see little reason not to move to Brasil and Mexico or overseas.



Is my Pan Am ticket to the moon still good?
User currently offlineB2707SST From United States of America, joined Apr 2003, 1369 posts, RR: 59
Reply 2, posted (9 years 2 weeks 3 days 18 hours ago) and read 1916 times:

More good news:
July's 207,000 job gain compared with a revised 166,000 increase in June. Economists surveyed by Briefing.com forecast an increase of 180,000 in the most recent month.

The June job gain was revised up 20,000 from the initial reading, and the May reading was also revised up 22,000 jobs to a gain of 126,000.

...

The household survey showed an even larger gain in the number of people working, up 438,000, with that survey now showing nearly a 400,000 job gain average over the last four months, or about twice the gain reported in the employer survey.

http://money.cnn.com/2005/08/05/news/economy/jobs_july/index.htm

--B2707SST



Keynes is dead and we are living in his long run.
User currently offlineMrniji From , joined Dec 1969, posts, RR:
Reply 3, posted (9 years 2 weeks 3 days 18 hours ago) and read 1911 times:

probably the cheap-labor sector (the "work to survive sector") has gained a new momentum of growth

User currently offlineSTLGph From United States of America, joined Oct 2004, 9328 posts, RR: 25
Reply 4, posted (9 years 2 weeks 3 days 17 hours ago) and read 1902 times:

Quoting MaverickM11 (Thread starter):
as retailers, hospitals and restaurants added thousands of new employees.

oh yeah, the American dream job.

let's fold shirts at the Gap, buy a house in the suburb, and send kids to college on that wage.

Quoting DL021 (Reply 1):
1.3million jobs.... man, I'd say that's hard to argue with, but someone here will do it.

of course, because it's mostly jobs in the type as mentioned above. the employment rate SOARED when Starbucks began building their new locations which feature a Starbucks-Inside-A-Starbucks concept.



Eternal darkness we all should dread. It's hard to party when you're dead.
User currently offlineSuperfly From Thailand, joined May 2000, 39831 posts, RR: 74
Reply 5, posted (9 years 2 weeks 3 days 17 hours ago) and read 1902 times:

Great!
Best Western is looking for more housekeepers.  Yeah sure



Bring back the Concorde
User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17420 posts, RR: 46
Reply 6, posted (9 years 2 weeks 3 days 17 hours ago) and read 1899 times:

Quoting STLGph (Reply 4):
oh yeah, the American dream job.

You want to back that up?

Quoting Superfly (Reply 5):
Best Western is looking for more housekeepers.

You too...care to back it up?



E pur si muove -Galileo
User currently offlineANCFlyer From , joined Dec 1969, posts, RR:
Reply 7, posted (9 years 2 weeks 3 days 17 hours ago) and read 1895 times:

Congrats Mav - it only took like 5 posts before the "Good News" was shat upon! Usually, it's like what, 2 -3???

User currently offlineFalcon84 From , joined Dec 1969, posts, RR:
Reply 8, posted (9 years 2 weeks 3 days 17 hours ago) and read 1889 times:

Service industry-most of the jobs-lower paying, fewer benefits, except for those who run the companies that don't pay their employees squat.

Yes, who needs those jobs that pay a good wage and have good benefits?


User currently offlineMidnightMike From United States of America, joined Mar 2003, 2892 posts, RR: 14
Reply 9, posted (9 years 2 weeks 3 days 17 hours ago) and read 1888 times:

Quoting STLGph (Reply 4):
oh yeah, the American dream job.

let's fold shirts at the Gap, buy a house in the suburb, and send kids to college on that wage.

Quoting DL021 (Reply 1):
1.3million jobs.... man, I'd say that's hard to argue with, but someone here will do it.

of course, because it's mostly jobs in the type as mentioned above. the employment rate SOARED when Starbucks began building their new locations which feature a Starbucks-Inside-A-Starbucks concept.

Here, let me do some reading for you, not sure where you got your information from:

The retail sector accounted for about one-quarter of all the new jobs, adding 50,000, mostly in clothing and general-purpose stores. The health care industry added 30,000 jobs and the leisure and hospitality industry added 33,000 jobs.

Average wages increased to $16.13 an hour, up 6 cents from last month, the biggest increase in a year. That suggests businesses are beginning to compete more aggressively for workers and employees are regaining some of the clout they wielded in the late 1990's.



NO URLS in signature
User currently offlineSuperfly From Thailand, joined May 2000, 39831 posts, RR: 74
Reply 10, posted (9 years 2 weeks 3 days 17 hours ago) and read 1880 times:

Quoting MaverickM11 (Reply 6):
You too...care to back it up?

Actually Best Western is always hiring housekeepers.  Smile

Quoting MidnightMike (Reply 9):
Average wages increased to $16.13 an hour, up 6 cents from last month, the biggest increase in a year. That suggests businesses are beginning to compete more aggressively for workers and employees are regaining some of the clout they wielded in the late 1990's.

Care to school me a little on this?
How are these "average wages" measured?
If the increase wages is all top end wages, doesn't that increase the "average"?
Doesn't government mandated minimum wage increases play a factor as well?



Bring back the Concorde
User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17420 posts, RR: 46
Reply 11, posted (9 years 2 weeks 3 days 17 hours ago) and read 1880 times:

Quoting Falcon84 (Reply 8):
Yes, who needs those jobs that pay a good wage and have good benefits?

We need more manufacturing jobs where we can drill bits for 90 minutes but get paid for 10 hours!!!



E pur si muove -Galileo
User currently offlineSuperfly From Thailand, joined May 2000, 39831 posts, RR: 74
Reply 12, posted (9 years 2 weeks 3 days 17 hours ago) and read 1876 times:

Quoting MaverickM11 (Reply 11):
We need more manufacturing jobs where we can drill bits for 90 minutes but get paid for 10 hours!!!

....and get these 10 year olds off there skateboards and in to the coal mines.  Yeah sure
You would have loved living in pre-turn of the century America.



Bring back the Concorde
User currently offlineSTLGph From United States of America, joined Oct 2004, 9328 posts, RR: 25
Reply 13, posted (9 years 2 weeks 3 days 16 hours ago) and read 1858 times:

Quoting MaverickM11 (Reply 6):
You want to back that up?

sure, Captain Dense.

next time you're dining out and the waitress taking care of you is either

A. pregnant

or

B. looks like an older woman who might be doing this as a second job

why not strike up a conversation with them and ask them how their dreams of moving to Bel Air are progressing along.

we'll start with that, for an example.

Quoting MidnightMike (Reply 9):
Average wages increased to $16.13 an hour, up 6 cents from last month, the biggest increase in a year

well, i usually tip 23-30% for good service. glad to know i'm making a difference.



Eternal darkness we all should dread. It's hard to party when you're dead.
User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17420 posts, RR: 46
Reply 14, posted (9 years 2 weeks 3 days 16 hours ago) and read 1850 times:

Quoting STLGph (Reply 13):
we'll start with that, for an example.

Random, anecdotal evidence...do you use that to prove all your points?



E pur si muove -Galileo
User currently offlineB2707SST From United States of America, joined Apr 2003, 1369 posts, RR: 59
Reply 15, posted (9 years 2 weeks 3 days 16 hours ago) and read 1842 times:

Quoting Superfly (Reply 10):
How are these "average wages" measured?
If the increase wages is all top end wages, doesn't that increase the "average"?
Doesn't government mandated minimum wage increases play a factor as well?

The full name of the "average wage" statistic is "Average hourly and weekly earnings of production or nonsupervisory workers." Salaried workers like executives and managers are not included.

See http://www.bls.gov/news.release/empsit.t17.htm for a breakdown by industry and occupational sectors.

--B2707SST



Keynes is dead and we are living in his long run.
User currently offlineMidnightMike From United States of America, joined Mar 2003, 2892 posts, RR: 14
Reply 16, posted (9 years 2 weeks 3 days 16 hours ago) and read 1839 times:

Quoting Superfly (Reply 10):
Quoting MidnightMike (Reply 9):
Average wages increased to $16.13 an hour, up 6 cents from last month, the biggest increase in a year. That suggests businesses are beginning to compete more aggressively for workers and employees are regaining some of the clout they wielded in the late 1990's.

Care to school me a little on this?
How are these "average wages" measured?
If the increase wages is all top end wages, doesn't that increase the "average"?
Doesn't government mandated minimum wage increases play a factor as well?

School you? No, we are not having an argument.... You can take the numbers and twist them anyway you want or I want, so, I won't. So, I will just go back to the link.

********************************************************

The retail sector accounted for about one-quarter of all the new jobs, adding 50,000, mostly in clothing and general-purpose stores. The health care industry added 30,000 jobs and the leisure and hospitality industry added 33,000 jobs.
********************************************************



NO URLS in signature
User currently offlineSuperfly From Thailand, joined May 2000, 39831 posts, RR: 74
Reply 17, posted (9 years 2 weeks 3 days 16 hours ago) and read 1838 times:

B2707SST:
Thanks for the link.  Smile



Bring back the Concorde
User currently offlineSTLGph From United States of America, joined Oct 2004, 9328 posts, RR: 25
Reply 18, posted (9 years 2 weeks 3 days 15 hours ago) and read 1834 times:

Quoting MaverickM11 (Reply 14):
Random, anecdotal evidence...do you use that to prove all your points?

gosh, you are denser than i previously thought, or else you just come from a poor family. or perhaps you didn't go out for lunch, yet.

go out and ask 100 teenagers or kids what they wanna be when they grow up.

how many of them have life long aspirations to be a Wal Mart cashier?

get back to me with your results.


it doesn't take many 50's & 60's sit coms, current reality tv shows ("I Wanna Be A Hilton" is a great start), romance novels, or more than one Johnny Cash album to figure this one out.

so you go on defending sales clerking as a great way to buy that house in the suburbs and send the kids to college. i'll keep giving my 23-30% so i can help out those less fortunate than i.



Eternal darkness we all should dread. It's hard to party when you're dead.
User currently offlineB744F From Germany, joined Jan 2006, 0 posts, RR: 0
Reply 19, posted (9 years 2 weeks 3 days 14 hours ago) and read 1820 times:

And all this matters... because? It's just more examples for the Fed to keep raising interest rates until they've burried all the gains of the poor and middle class all so the wealthy can keep their investments worth more in the future.

As shown, the service sector accounted for most of the increases, and considering the average wage adjusted for inflation is still lower than 1979, these miniscule increases mean peanuts.


User currently offlineDL021 From United States of America, joined May 2004, 11447 posts, RR: 75
Reply 20, posted (9 years 2 weeks 3 days 14 hours ago) and read 1817 times:
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Keep putting people down for getting the jobs done that you probably couldn't do properly anyway. Everyone has to start somewhere, and there are plenty of higher wage jobs available out there as well.

Besides, what are the actual statistics on the percentage of jobs being created that are better or worse than in previous economic cycles?



Is my Pan Am ticket to the moon still good?
User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17420 posts, RR: 46
Reply 21, posted (9 years 2 weeks 3 days 14 hours ago) and read 1814 times:

Quoting STLGph (Reply 18):
go out and ask 100 teenagers or kids what they wanna be when they grow up.

You could also stick your thumb in your rear and tell me how the economy is going and take it as gospel   

Quoting B744F (Reply 19):
the service sector accounted for most of the increases,

We definitely need more jobs in the vastly superior manufacturing sector where unions are needed to keep the dumb and lazy employed...  

Kidding...kinda...

[Edited 2005-08-05 21:53:47]


E pur si muove -Galileo
User currently offlineSTLGph From United States of America, joined Oct 2004, 9328 posts, RR: 25
Reply 22, posted (9 years 2 weeks 3 days 14 hours ago) and read 1808 times:

Quoting DL021 (Reply 20):
Keep putting people down for getting the jobs done that you probably couldn't do properly anyway

you're right, i couldn't be a cashier. i could never count back change since i've only bought by plastic for all of my life.

Quoting B744F (Reply 19):
As shown, the service sector accounted for most of the increases, and considering the average wage adjusted for inflation is still lower than 1979, these miniscule increases mean peanuts.

you're right. but you should have directed people to your posts in the Wal Mart thread...i.e. the absence of providing employees with health insurance



Eternal darkness we all should dread. It's hard to party when you're dead.
User currently offlinePope From , joined Dec 1969, posts, RR:
Reply 23, posted (9 years 2 weeks 3 days 13 hours ago) and read 1798 times:

Quoting B744F (Reply 19):
And all this matters... because? It's just more examples for the Fed to keep raising interest rates until they've burried all the gains of the poor and middle class all so the wealthy can keep their investments worth more in the future.

Actually, the wealthy like low rates because the bond and stock markets move opposite to one another. As interest rates rise, money is typically moved from the stock market (where most wealthly people do the bulk of their investments) to the bond markets. The movement of cash from equity markets to bond markets cause a decline in the equity markets.

Low interest rates also allow the "wealthy" to use margin more effectively. Also, low rates allow companies to borrow money cheaper and therefore contribute to earnings grow, appreciating the value of shareholder investments. Therefore, the rich generally prefer a low interest rate environment.

Perhaps you should think about what you post before your post it.


User currently offlineBlackbird1331 From United States of America, joined Apr 2004, 1893 posts, RR: 0
Reply 24, posted (9 years 2 weeks 3 days 13 hours ago) and read 1796 times:

Christmas is coming. It's that time of year.


Cameras shoot pictures. Guns shoot people. They have the guns.
25 B2707SST : Not only that, a higher discount rate reduces the present value of long-term securities, like stocks (which represent, in part, the discounted presen
26 Jamesag96 : Careful, he works in the media. LOL. Gotta love the derogatory attitude...just a taaaaad bit elitist don't you think?
27 DL021 : Well, since he's never used anything but plastic, I could not expect any reality from him. He's either never had to work for it, or had it all handed
28 Soku39 : One problem, no one has mentioned how many jobs have been lost. This debate is absolutely useless without that information. For all I know there could
29 CORULEZ05 : All I can say is: It is not about the QUANTITY but the QUALITY Thousands and thousands of jobs can be created BUT if they are not created on a firm ba
30 Post contains links B2707SST : This is a net figure: Total nonfarm employment rose by 207,000 in July to 133.8 million, seasonally adjusted. This followed job gains of 126,000 in M
31 B744F : I'm sorry but saying the wealthy like low rates is unbelievable. They want higher rates so the money supply will be smaller thus they can get higher r
32 STLGph : since the most jobs added are flippin' burgers and hanging clothes from a rack, or scrubbin' floors as a C.N.A., the economy is going great! here com
33 Pope : Look at historical returns between equities and bonds over just about any 15 year period you want and then decide whether rich people prefer high int
34 Post contains links and images MaverickM11 : http://online.wsj.com/article/0,,SB1...n%5Fmain%5Freview%5Fand%5Foutlooks "That criticism now looks wildly off base. The 5% jobless rate today is almo
35 STLGph : what a fun and cute little comment. then one stops and remembers how much the government subsidizes for health care and education costs, which often
36 DL021 : Quoting MaverickM11 (Reply 34): In Japan and France the share of long-term unemployed workers is three times higher than in the U.S. Germany's rate is
37 STLGph : food stamps overpass goodwill quarter days hobo-it well, if one would spend more time as a kid buddying up to the great aunt with a weekend house in
38 Dan2002 : What bullshit. My father was president of his local for almost 20 years, and everytime the company would change hands, from CEO to CEO and owner to o
39 MaverickM11 : Poverty in the US is down from something like 20% in the 70s to 12% currently, and that latter is swelled because of the millions of illegal immigran
40 MaverickM11 : This is the actual text: "Or perhaps what really matters is how the poor are doing in absolute terms rather than in relation to the wealthy. American
41 LOT767-300ER : I cant believe some of you guys are speculating what kind of jobs have been created? Christ, I love how you guys just assume they are low quality jobs
42 STLGph : .... "The retail sector accounted for about one-quarter of all the new jobs, adding 50,000, mostly in clothing and general-purpose stores. The health
43 MaverickM11 : Do you have anything to compare it to?
44 LOT767-300ER : Maybe you should brush up on some COMMON SENSE.....look what proportion those sales jobs make up out of the whole job market, and how many percent of
45 DL021 : STgl..you make zero sense. The economy is better, more people are employed, and things are good. Bitch all you want, it won't change facts.
46 Post contains images XJRamper : Ok....the problem with America's economy is that its perception-based. People think the economy is good: it is. People think the economy is bad: it is
47 STLGph : yes. Leavittown. oh yes. and you plan on staying at your car stereo installation job for the rest of your life, right? come back when you graduate wi
48 Post contains images MaverickM11 : Why don't you bother getting some analytical data to back up your passive aggressive claims, 'and then get back to me'?
49 STLGph : okay, let's look in the classified section, and then choose from one of the following jobs, shall we? retail. $7 an hour. no paid vacation. no benefi
50 B744F : This is why everything tied into the stock market, where mob rules apply, is extremely dangerous
51 DL021 : Yeah....so you think that the waitress of today can't be the owner of tomorrow? The kid in the car stereo shop can't graduate to $36k per year? Or eve
52 STLGph : when you make $2.13 an hour plus tips, and you've got to pay for the increasing cost of every day living standards, plus the increased cost of gas fo
53 DL021 : Quoting DL021 (Reply 51): Or even open their own business? you find me a credit manager that would approve a loan to open a business for someone witho
54 Post contains links Spinzels : This is the key point! After four years of punishing job losses followed by relatively anemic job growth, the Bush economy has created about as many
55 MaverickM11 : That dip started before Bush even got into office--nevermind the continuing of said dip, the terrorist attacks of 9-11, two wars, and record fuel pri
56 B744F : yes it started before Bush got into office, but instead of playing the blame game, like he did, he could have tried to create policies to fix it. The
57 DL021 : "Quoting MaverickM11 (Reply 55): That dip started before Bush even got into office--nevermind the continuing of said dip, the terrorist attacks of 9-1
58 Post contains links B2707SST : This is about the laziest application of post hoc ergo propter hoc I've ever seen. A smorgasbord of leading indicators were falling -- some as early
59 MaverickM11 : You've been proven wrong so many different times in so many different ways but you always come back to be proven wrong AGAIN, in a new way. Amazing.
60 Spinzels : Obviously you didn’t read the WSJ opinion piece posted in reply 34, nor apparently did you read the thread-starter where the same exact logic was a
61 EA CO AS : Tips aren't used to calculate wages. Yes, ask those 100 kids. You'll get a handful that want to be doctors and lawyers, but you'll also get a ton of
62 Pope : Why are you having a family until you can first ensure that you can support them? People always talk about freedom of choice. Why doesn't that freedo
63 B744F : I hope this is a joke, the only aggressive response was the Feds. The fiscal policy has been horrible at best, with deficits rising every minute. You
64 Pope : All evidence to the contrary. There isn't a single respected economist who won't agree with the notion that the US economy is better today than it wa
65 DL021 : History has also proven to be an elusive subject for B744F. Fantasy, on the other hand, seems to be his favorite subject.
66 Post contains images ANCFlyer : Science Fiction
67 B744F : What nonsense, short term? Sure, but I am talking about the long term effects WOW, amazing! Be proud! Facts please? And your claim that "cutting taxe
68 Pope : Your desire to demonstrate your stupidity never ceases to amaze. 3% GDP growth for an economy the size of the US is outstanding. Many economist worry
69 B744F : Sure when you cut taxes to corporations and the investing class while everyone else has to pay for it, both at the store, in their wages, and what ty
70 DL021 : I'd post here but I'm laughing too hard. DUde, the economy has recovered from the Clinton legacy recession, because of the tax cuts and stimuli packag
71 B744F : Umm, no, the economy has recovered because interest rates were at the lowest they've ever been. There was/is no Clinton legacy recession, the clinton
72 DL021 : OK....let me address those one by one, simply because I have nothing better to do. Clinton Military....Bullshit. He inherited a military second to non
73 Post contains images ANCFlyer : Military!        BwaaaaHaaaa, WTF does Clinton know of military. Don't even get me started . . . . Again!        I don't know what kind o
74 Pope : Dude I have a Master's degree in Taxation from the #2 Graduate Accounting Program in the United States. I practiced as a CPA for 7 years. The AMT (al
75 B744F : My mistake, I named it wrong. But don't blame just the democrats, both parties are guilty Nonsense, the boom of the 50s had nothing to do with cuttin
76 B744F : The cutting back of the outageously bloted post-cold war military was started by Bush Sr and continued by Clinton. The wars themselves were easily wo
77 Post contains images ANCFlyer : Hey, John Wayne, I didn't dispute that, any of that . . . what I disputed was your Gloss giving credit to Clinton for the successes of the US Militar
78 B744F : He and Bush Sr deserve the credit for the smaller, more advanced military that breezed through regular combat ops. I don't care about your personal b
79 ANCFlyer : Oh, yeah, our ability to fight a two pronged war, sure, I remember that . . . draw down another two Divisions, say good bye to the 8th ID and send th
80 B744F : Who said two pronged war? We weren't supposed to be getting involved in these conflicts, the Cold War is over, the military was being built as a peac
81 DL021 : B744F....If you bothered studying you'd know that our capstone guidance was to be able to fight two major conflicts plus a regional conflict...simulta
82 B744F : Yes it has, that is what a smaller force is. It wasn't redesigned to be a bloated military ready to take on the next USSR, it was designed to fight s
83 DL021 : How do you feed yourself when you are that freaking stupid?
84 Halls120 : The size of a given military force has no bearing on whether it is or is not a "peacekeeping" force. While the US military does indeed include peacek
85 Post contains images ANCFlyer : Geez!?!?! What freaking planet have you been on for the last 15 years???? Regardless, welcome to planet Earth. Now, quit posting and go back to schoo
86 Halls120 : Unfortunately, posting opinion without conducting the most basic research seems to be B744F's modus operandi.
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