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Jun 3 2018 09:42pm
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WASHINGTON—Americans traditionally left behind as jobs and wages grow—high-school dropouts, blacks and Latinos—are reaping the benefits of a tightening labor market, with an unemployment rate that hasn’t been lower in nearly half a century.

The jobless rate in May ticked down to a seasonally adjusted 3.8%, the lowest since April 2000, the Labor Department said. The last time the rate was lower was in 1969.

At the same time, U.S. employers added 223,000 jobs last month, extending the longest continuous job expansion on record to 92 months. Average hourly earnings edged up 2.7% from a year earlier—and raises were even stronger for rank-and-file than managers.

“It’s pretty hard to argue that the labor market is anything but right in the sweet spot,” said Dan North, chief economist at business insurer Euler Hermes North America. “There is tremendous demand for labor right now.”

And those gains are extending to all corners of the labor market. The unemployment rate for women, at 3.6% last month, was the lowest since 1953, when a far smaller share of women sought jobs. The jobless rate for workers older than 24 without a high-school diploma fell in May to 5.4%—near a record low. The jobless rates for blacks and Latinos are also near record lows.


...In the first quarter of this year, median weekly earnings for Americans without a high-school diploma rose by 10% from a year earlier, separate Labor Department data showed. That compared with 0.5% annual growth for college graduates.

...A broader measure of unemployment and underemployment that includes Americans stuck in part-time jobs or too discouraged to look was 6.9%. Last month, it was 7.6%.


https://www.wsj.com/articles/unemployment-rate-falls-to-18-year-low-solid-hiring-in-may-1527856298

B-bu-but this is just another example of trickle down economics that doesn't work...but not every one is benefiting in this economy...only oppressive rich white men are...right?
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Jun 3 2018 09:47pm
According to Republicans it doesn't count since the labor participation rate hasn't recovered.
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Jun 3 2018 10:06pm
Donald trump making America great 👍
More jobs, less unemployment, great relations with foreign countries, keeping Mexicans out, lowering taxes, gettin er done!
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Jun 3 2018 10:06pm
Let’s be sober about the employment numbers and jobs report. The # of Americans NOT in the labor force has hit record highs six out of the past eight months - 94 million Americans have given up looking for a full time job and are not working: https://data.bls.gov/timeseries/LNS15000000. That’s the worst in history. Additionally, about half of the new jobs created over the past 5 years are low paid gig jobs with no benefits. So if you’re wondering why, despite this huge news cycle about record low unemployment numbers, you have no job or your current job pays peanuts and offers no medical insurance, retirement benefits, etc... here’s your answer.

Quote (Happypuppy @ Jun 3 2018 09:06pm)
Donald trump making America great 👍
More jobs, less unemployment, great relations with foreign countries, keeping Mexicans out, lowering taxes, gettin er done!


This is a pretty flat downward slope (and in actuality, the decrease in unemployment slowed when Trump was elected vs the year prior as represented on the graph). I don't see much contribution from Trump. What I said above still stands though: they all want to take credit for "jobs" but it's a lot of smoke and mirrors to achieve the narrative they are pushing on either side of the aisle.



This post was edited by inkanddagger on Jun 3 2018 10:11pm
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Jun 3 2018 10:12pm
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Jun 3 2018 10:13pm
Quote (inkanddagger @ Jun 3 2018 10:06pm)
Let’s be sober about the employment numbers and jobs report. The # of Americans NOT in the labor force has hit record highs six out of the past eight months - 94 million Americans have given up looking for a full time job and are not working: https://data.bls.gov/timeseries/LNS15000000. That’s the worst in history. Additionally, about half of the new jobs created over the past 5 years are low paid gig jobs with no benefits. So if you’re wondering why, despite this huge news cycle about record low unemployment numbers, you have no job or your current job pays peanuts and offers no medical insurance, retirement benefits, etc... here’s your answer.

This is a pretty flat downward slope (and in actuality, the decrease in unemployment slowed when Trump was elected vs the year prior as represented on the graph). I don't see much contribution from Trump. What I said above still stands though: they all want to take credit for "jobs" but it's a lot of smoke and mirrors to achieve the narrative they are pushing on either side of the aisle.

https://ei.marketwatch.com/Multimedia/2017/05/05/Photos/ZH/MW-FL893_u6rate_20170505085247_ZH.png


So what you're saying is that the economy is keeping the same trend under Obama, both the positive and negative aspects?

SHOCKER!

Quote (duffman316 @ Jun 3 2018 10:12pm)


To stupid people it's going to look bad for Democrats.

But for people willing to think for like three seconds and know that the Democrats were preceded by Republicans and 3 months isn't long enough to enact shit, it is actually the other way around.

Then again, people who take in Fox are probably dumb enough to fall for it.

This post was edited by Thor123422 on Jun 3 2018 10:14pm
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Jun 3 2018 10:16pm
Quote (Thor123422 @ Jun 3 2018 09:13pm)
So what you're saying is that the economy is keeping the same trend under Obama, both the positive and negative aspects?

SHOCKER!



To stupid people it's going to look bad for Democrats.

But for people willing to think for like three seconds and know that the Democrats were preceded by Republicans and 3 months isn't long enough to enact shit, it is actually the other way around.

Then again, people who take in Fox are probably dumb enough to fall for it.



Yep and yep.

Clinton inherited Bush Sr's shit economy and fixed it, Bush Jr fucked it up and Obama inherited and fixed it, Trump inherited Obama's good economy and fortunately hasn't fucked it up yet.
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Jun 3 2018 10:36pm
Inb4 liberals make false equivalencies comparing Obama unemployment rates
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Jun 3 2018 10:41pm
Quote (EndlessSky @ Jun 3 2018 10:36pm)
Inb4 liberals make false equivalencies comparing Obama unemployment rates


Those darn liberals looking at the world with a nuanced and comprehensive view, spoiling my meme informed world view.
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Jun 3 2018 10:51pm
Quote (EndlessSky @ Jun 3 2018 09:36pm)
Inb4 liberals make false equivalencies comparing Obama unemployment rates


Tell us what you're trying to actually say.
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