Recession's over, get a job already

[Integral]

BLS Employment report:
- Official unemployment rate fell 0.2% to 8.3%
- Number of employed rose by 243,000
- Broad unemployment rate (which includes discouraged workers) declined slightly, from 15.2% to 15.1%
- there was virtually no decline in the labor force, so importantly the unemployment rate fell because more people were employed, not because people got discouraged. That's huge.
- Most of the gain in hiring was in the private sector

THE EMPLOYMENT SITUATION -- JANUARY 2012


Total nonfarm payroll employment rose by 243,000 in January, and the
unemployment rate decreased to 8.3 percent, the U.S. Bureau of Labor
Statistics reported today. Job growth was widespread in the private
sector, with large employment gains in professional and business
services, leisure and hospitality, and manufacturing. Government
employment changed little over the month.

This was a good month. Now one good month does not a recovery make, but hopefully a trend is forming in the right direction.

Digging a little bit deeper, there is a dark side to the report. Most of the people who found jobs had been unemployed for a relatively short period of time. Those who had been unemployed for a while tended to stay unemployed. There is still a rationale for helping the long-term unemployed.

 

[Core Imposter]

No doubt in my mind that sooner or later there has to be some positive statistics generated from five years of free monetary policy.

But sooner or later someone is going to pick that coin up and take a peek at the other side.

Edit: Just to add in absolutely uncontested truth that the end of fiat money is ruin EVERY SINGLE TIME.

 

[IdiotsOpposite]

What about unemployment + underemployment, though? I've got two jobs, and I still don't even get 20 hours a week total.

 

[kochman]

Thread already made...
http://forums.civfanatics.com/showthread.php?t=453030

 

[Antilogic]

Digging a little bit deeper, there is a dark side to the report. Most of the people who found jobs had been unemployed for a relatively short period of time. Those who had been unemployed for a while tended to stay unemployed. There is still a rationale for helping the long-term unemployed.

This is what I'm most concerned about.

 

[GamezRule]

It's still hard to actually find a job for the remaining 8.3%.

 

[Core Imposter]

I read a report somewhere that the labor force participation was at a 30 year low this month. I take all these statistics with a grain of salt and a shot of tequilla.

 

[Murky]

This is encouraging. I wonder how it will shape the elections.

 

[Core Imposter]

"The labor force participation rate, if you look at non-seasonally adjusted, a fresh low going back to April of '83. If you look at seasonally adjusted, a fresh low participation rate going back to December of '81. What does that mean in English? Shrinkage. Shrinkage. 1.2 million people are now not considered unemployed anymore. They just have left the system."

Rick Santelli

I dunno how this report is encouraging but I understand its meant to shape the elections.

 

[Murky]

One statistic that I like is the 4.5% unemployment rate for people with a Bachelor's degree. That says to me that is is worth it to get a degree vs not having one. Even some college is better than none at all.

 

[kramerfan86]

This is encouraging. I wonder how it will shape the elections.

It has to help Obama. Romney's main talking point is he is a business man who gets the economy but if the economy is upswinging it sort of hurts his ability to muscle votes from Obama on that issue

 

[GenMarshall]

Tell me another joke because I've yet to get one .

It's still hard to actually find a job for the remaining 8.3%.

This...

...most defenately.

 

[Leoreth]

It has to help Obama. Romney's main talking point is he is a business man who gets the economy but if the economy is upswinging it sort of hurts his ability to muscle votes from Obama on that issue

The problem is, if the recovery doesn't gain real momentum before the election, he may still be able to spin it as a crisis and then get credited for a recovery he had nothing to do with. It happened before.

 

[MagisterCultuum]

If I recall, here in the South the unemployment rate has continued to rise. The recovery is really only taking place in New England.

 

[Cutlass]

If I recall, here in the South the unemployment rate has continued to rise. The recovery is really only taking place in New England.

Since I live there, better than the alternative.

 

[dusters]

Thanks for encouragement, It's the states. Shall this trend wave to Europe as well =)

 

[Murky]

It's still hard to actually find a job for the remaining 8.3%.

If I understand economic theory about supply and demand, the fewer people looking for work should make easier to find a job, if there is a demand for new hires.

 

[Monsterzuma]

One statistic that I like is the 4.5% unemployment rate for people with a Bachelor's degree. That says to me that is is worth it to get a degree vs not having one. Even some college is better than none at all.

How well would they compare to people with 3-4 years of work experience I wonder?

Also: a lot of them aren't working in college level jobs.

 

[Luckymoose]

This...

...most defenately.

I am not sure what defenately means, but finding a job is not as large of a concern as finding a job that gives hours. I find jobs are being given away, and I have been offered several in the last year. Working 10 hours isn't really worth going off of unemployment though.

 

[Murky]

How well would they compare to people with 3-4 years of work experience I wonder?

Also: a lot of them aren't working in college level jobs.

I'm not sure but you can get some idea from the Bureau of labor statistics
http://www.bls.gov/emp/ep_chart_001.htm