Economy Adds 209 Thousand Jobs In July

News Buzzard Fri Aug 01, 2014 9:59 am

For the 6th straight month the US economy has seen an addition of over 200 thousand jobs!

http://www.businessinsider.com/july-jobs-report-200k-growth-for-first-time-since-1997-2014-8

First time that's happened since 1997. The numbers for May and June were also adjusted upwards!

News Pigeon Fri Aug 01, 2014 12:24 pm

Hmmm....seems someone here said it was harder to create private-sector jobs. Looks to me like it's going well for many private employers...

Private-sector job growth has increased in 52 consecutive months — the longest streak on record, according to the White House.

Private payrolls added 262,000 jobs in June, making up the bulk of the 288,000 jobs added. The new private-sector streak, which began in March 2010, surpasses the previous streak of 51 consecutive months of private-sector growth from February 1996 through April 2000.

It's likely to continue for the foreseeable future — this is the first time job growth has been above 200,000 for five straight months since September 1999 through January 2000.

News Hawk Fri Aug 01, 2014 8:03 pm

**WHL** Sat Aug 02, 2014 7:55 am

NH, do you notice NB and NP didn't say that despite the addition of jobs, that UNEMPLOYMENT IS UP????
They always pick and choose the facts that they like and post them.

News Buzzard Sat Aug 02, 2014 8:29 am

WHL wrote:NH, do you notice NB and NP didn't say that despite the addition of jobs, that UNEMPLOYMENT IS UP????
They always pick and choose the facts that they like and post them.

It's in the second paragraph of the article I attached, WHL! We have seen a gain of over 200 thousand jobs for 6 months in a row, something that never happened during the Bush Administration. And in fact the Bush economy and tax cuts cost us about 9 million jobs!

News Hawk Sat Aug 02, 2014 9:56 pm

Economy Adds 209 Thousand Jobs In July A_imagine_if_you_will

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red_hill Sun Aug 03, 2014 7:10 am

News Buzzard wrote:
WHL wrote:NH, do you notice NB and NP didn't say that despite the addition of jobs, that UNEMPLOYMENT IS UP????
They always pick and choose the facts that they like and post them.

It's in the second paragraph of the article I attached, WHL! We have seen a gain of over 200 thousand jobs for 6 months in a row, something that never happened during the Bush Administration. And in fact the Bush economy and tax cuts cost us about 9 million jobs!

You know what else you did not see in the Bush admin? 3 years of the labor participation rate below 64%

Explain how the tax cuts cost us jobs? If you are referring to government jobs, there have never been more well paid government jobs than now. In fact, Mrs Obama has a staff of 24 Smile

**WHL** Sun Aug 03, 2014 7:30 am

No first lady has ever had a staff as big as Michelle, Red.

News Hawk Sun Aug 03, 2014 7:47 am

WHL wrote:No first lady has ever had a staff as big as Michelle, Red.

Bush never had a staff of calligraphers. What is calligraphy? Here's an example from the White House:

الله أكبر‎

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**WHL** Sun Aug 03, 2014 7:56 am

That's right. I heard that before. And the head calligrapher makes a bundle of money!

News Buzzard Sun Aug 03, 2014 8:35 am

Mark Zandi of Moodys says we'll be at full employment by the end of 2016:

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/07/30/economys-growth-rate-surges-to-4-percent-in-second-quarter/

News Buzzard Sun Aug 03, 2014 8:41 am

red_hill wrote:Explain how the tax cuts cost us jobs?

The Bush economy cost us 9 million jobs! Supply side economics (low taxes) has never worked, and the current laboratory for that is the state of Kansas. They are going broke because of excessively low taxes. Governor Brownback might very well lose in a Red state.

News Hawk Sun Aug 03, 2014 9:27 am

News Buzzard wrote:
red_hill wrote:Explain how the tax cuts cost us jobs?

"...The Bush economy cost us 9 million jobs...!

And "toxic loans"—with Obama's help—never figured in?

Rolling Eyes

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News Buzzard Sun Aug 03, 2014 11:18 am

The banks made loans they knew would never be repaid, so how is that Obama's fault? The banks leveraged all of their capital to get into the Ponzi scheme of credit default swaps and lost! How is that Obama's fault? The notion that the CRA caused all of this has been repeatedly debunked!

red_hill Mon Aug 04, 2014 9:02 am

News Buzzard wrote:The banks made loans they knew would never be repaid, so how is that Obama's fault? The banks leveraged all of their capital to get into the Ponzi scheme of credit default swaps and lost! How is that Obama's fault? The notion that the CRA caused all of this has been repeatedly debunked!

I don't blame Obama for the CRA, that one belongs to Barney Frank and Bill Clinton Very Happy

News Hawk Mon Aug 04, 2014 9:43 am

red_hill wrote:
News Buzzard wrote:The banks made loans they knew would never be repaid, so how is that Obama's fault? The banks leveraged all of their capital to get into the Ponzi scheme of credit default swaps and lost! How is that Obama's fault? The notion that the CRA caused all of this has been repeatedly debunked!
I don't blame Obama for the CRA, that one belongs to Barney Frank and Bill Clinton

Obama's only appearance as a "real" lawyer, was to force banks to make "toxic" loans. When the banks didn't crumble to Obama, they got fined Big-Time. Wells Fargo Bank comes to mind first, when they tried to protect their loans with more responsible terms.

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News Buzzard Mon Aug 04, 2014 10:20 am

The CRA was bipartisan legislation signed into law in 1977 by Jimmy Carter. It passed the House 369-20 and the Senate 79-7, and it's purpose was to stop redlining in certain areas. There have been many changes made to the CRA, as noted in the Wikipedia entry, but it was never meant to encourage predatory lending, and not found to be an overriding factor in the Great Recession:

http://en.wikipedia.org/wiki/Community_Reinvestment_Act

News Hawk Mon Aug 04, 2014 12:23 pm

Wikipedia also says,

During a 2008 House Committee on Oversight and Government Reform hearing on the role of Fannie Mae and Freddie Mac in the financial crisis, including in relation to the Community Reinvestment Act, when asked if the CRA provided the "fuel" for increasing subprime loans, former Fannie Mae CEO Franklin Raines said it might have been a catalyst encouraging bad behavior, but it was difficult to know. Raines also cited information that only a small percentage of risky loans originated as a result of the CRA.[133]

**WHL** Mon Aug 04, 2014 12:29 pm

Yes, Red Hill, you are right. Barney and his buddy and Bill.

News Hawk Mon Aug 04, 2014 12:48 pm

If you pay your mortgage faithfully, denying yourself the newest big-screen TV, while your neighbor buys iPhones, time shares, a wall-sized do-it-all plasma screen TV and new cars, and the government forgives his debt when he defaults on his mortgage — you might live in a nation that was founded by geniuses but is run by idiots.

News Buzzard Mon Aug 04, 2014 1:19 pm

News Hawk wrote:

If you pay your mortgage faithfully, denying yourself the newest big-screen TV, while your neighbor buys iPhones, time shares, a wall-sized do-it-all plasma screen TV and new cars, and the government forgives his debt when he defaults on his mortgage — you might live in a nation that was founded by geniuses but is run by idiots.

You're right! Who's Treasury Department was overseeing (obviously not) our worst downturn since the Great Depression??

News Hawk Mon Aug 04, 2014 1:37 pm

WHL wrote:Yes, Red Hill, you are right. Barney and his buddy and Bill.

Barney even admitted (much later) that the downfall of our banks was due to his previous words of comfort regarding Fannie Mae.

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News Hawk Mon Aug 04, 2014 1:39 pm

News Buzzard wrote:
News Hawk wrote:

If you pay your mortgage faithfully, denying yourself the newest big-screen TV, while your neighbor buys iPhones, time shares, a wall-sized do-it-all plasma screen TV and new cars, and the government forgives his debt when he defaults on his mortgage — you might live in a nation that was founded by geniuses but is run by idiots.

You're right! Who's Treasury Department was overseeing (obviously not) our worst downturn since the Great Depression??

The guy who went to Congress 15 times to say we're headed in a very bad direction?

(Although the CRA made everyone "feel good" at the start).

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News Pigeon Thu Aug 07, 2014 8:07 am

You can blame the weak economy on "Barry" all you want but here's the facts to chew on....

A new report issued by economists at Standard & Poor’s Ratings Services agrees with these dire impacts of inequality. The report, entitled “How Increasing Inequality is Dampening U.S. Economic Growth, and Possible Ways to Change the Tide,” concludes that the widening gap between the wealthiest and everyone else is a key reason why our economic recovery is the weakest in the last 50 years. Pushing back against the oft-repeated and dead-wrong trickle-down argument on the right that a rising tide lifts all boats, S&P responds, “A lifeboat carrying a few, surrounded by many treading water, risks capsizing.”
https://www.globalcreditportal.com/ratingsdirect/renderArticle.do?articleId=1351366&SctArtId=255732&from=CM&nsl_code=LIME&sourceObjectId=8741033&sourceRevId=1&fee_ind=N&exp_date=20240804-19:41:13&elq=~~eloqua..type--emailfield..syntax--recipientid~~&elqCampaignId=~~eloqua..type--campaign..campaignid--0..fieldname--id~~

And why aren't you small business owners bitching about these major corporations "inverting" their company headquarters off-shore, taking with it $20billion in taxes due over the next 10 yrs...this will be paid by small business, as well as you & I.

News Hawk Thu Aug 14, 2014 9:48 am

New applications for unemployment benefits rose last week but remained near eight-year lows.

Initial claims for unemployment benefits increased by 21,000 to a seasonally adjusted 311,000 in the week ended Aug. 9, the Labor Department said Thursday. That was more than the 295,000 new claims forecast by economists surveyed by The Wall Street Journal and the highest level since June.

Claims for the previous week were revised up slightly to 290,000. Applications for unemployment benefits, a proxy for layoffs, have been trending lower this year. The four-week moving average of claims, which smooths out weekly volatility, increased by 2,000
—Wall Street Journal

Eight-year lows—what a President we have in Washington, DC.!!

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Economy Adds 209 Thousand Jobs In July

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