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Trump's first month of job creation misses estimates

Discussion in 'U.S. Politics' started by dogtowner, Mar 8, 2017.

  1. pocketfullofshells

    pocketfullofshells Well-Known Member

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    Its funny, the same Jobs report comes out Under Obama republicans bitch and moan...and Trump calls the numbers Fake. Its amazing how he claimed Unemployment was like 45%...then as soon as he is in office, the same numbers he attacked Obama for are real and republicans use them now. Also he has about zero impact on that report...kinda like How Trump people making claims about Deficits based on a Budget still under Obama. Its hard to tell if republicans are just dishonest or just have no idea what they are talking about....JK its both
     
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  2. dogtowner

    dogtowner Moderator Staff Member

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    How often did The number come in 100k over estimate under BO ?
     
  3. pocketfullofshells

    pocketfullofshells Well-Known Member

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    I have no idea, but I can say this one, as its really his jobs report. You actually think his zero policy changes made jobs happen in a month? It takes months for a presidents budgets and policies to start having any effect. 1000 percent if this was a bad report you would blame Obama.
     
  4. Openmind

    Openmind Well-Known Member

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    You are over stating it just a little bit, aren't you? It was more like 45,000 over estimate. . .and all news were not great, since the average hourly wages actually declined!

    US created 235,000 jobs in Feb, vs 190,000 expected - CNBC.com
    www.cnbc.com/2017/03/10/us-created-235000-jobs-in-feb-vs-190000-expected.html
     
  5. dogtowner

    dogtowner Moderator Staff Member

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    What started the day after the election ?
    What never happened the prior 8 years ? Your boy was an albatross round the neck of the economy.
     
  6. Openmind

    Openmind Well-Known Member

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    Sure. ..that's why he brought the unemployment rate from 7.8% down to 4.8%!
     
  7. dogtowner

    dogtowner Moderator Staff Member

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    And avg income down with it. But on the bright side he crafted a massive increase in income disparity giving his fat cat owners a trillion a year.
     
  8. Openmind

    Openmind Well-Known Member

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    Wrong again! While wages haven't been growing at a huge rate over the last 8 years (thanks to the Bush recession and the time it took to get out of it), wages have increased

    "What's Happened to Wages & Income?

    "Wages have grown faster over the past few years than at any time in the past forty," President Obama wrote recently in an exit memo addressed to the American people. Could this really be true?

    Average hourly wages increased 2.9% in 2016. That's better than 2015 (2.3%) and 2014 (2.1%). But wage growth of 2% is essentially no wage growth at all once inflation is factored in. Wages generally grow 3% to 4% during normal (non-recession) years. According to the Economic Policy Institute, if wages had grown at a consistent 3.5% annually since the Great Recession, the average worker would be making $29.07 per hour, versus the actual average of $26 an hour today.

    From 2014 to 2015, America's real median household income (which factors in inflation) saw its biggest increase since such data started being recorded, in 1968. The median household earned $56,500 in 2015, an increase of 5% over the prior year—amounting to an extra $2,800 in income. This data, we suppose, is what Obama was focusing on with his comments concerning the pace of wage growth in recent years.

    In the grand scheme, household income has been pretty stagnant. Census Bureau data shows that when everything is converted into 2015 dollars, the median household income in 2007 was $57,423. In other words, typical American households have been earning more lately than they were a few years ago, but still less than they were before the recession."

    Here's What Really Happened to Jobs During the Obama Years - Time
    time.com/money/4636761/jobs-barack-obama-presidency/
     
  9. The Scotsman

    The Scotsman Well-Known Member

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    What's the cost of living stats for the same period?
    The median cost of living figure for 2015 was $55,987 (median wage 56,500) diff is $523
    The median cost of living figure for 2007 was $49,638 (median wage 57,423) diff is $7,785

    Looks to me like its not so rosey especially if you are trying to save for retirement?

    https://www.statista.com/statistics/247455/annual-us-consumer-expenditures/
     
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  10. The Scotsman

    The Scotsman Well-Known Member

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    and the financial collapse didn't help either..!
     
  11. PLC1

    PLC1 Moderator Staff Member

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    100 K jobs more than estimates. The estimators must have been off.

    The jobs numbers before the election were "fake", of course, and the actual jobless rate way into the double digits. Now, using the same sources and the same numbers, they're quite real.

    And the jobs that brought unemployment from near 8% to a little over 4% were just part time jobs, due to Obamacare. Now, since Obamacare has been repealed and replaced with the wonderful new universal health care that Trump promised, they're all full time jobs that pay well.
     
  12. dogtowner

    dogtowner Moderator Staff Member

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    Average time to recovery for all such events 18 months. Two exceptions. '29 and'08. Where spending their way out was tried and failed. Three if you count Japan's lost decade.
     
  13. dogtowner

    dogtowner Moderator Staff Member

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    The estimates are always off, never like that.
     
  14. PLC1

    PLC1 Moderator Staff Member

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    Seems like the OPEC recession of the '70s lasted longer than that.
     
  15. dogtowner

    dogtowner Moderator Staff Member

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    That's why it's an average. Clintons d I t com bust + ennron got fixed faster.
     
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