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Offline FaC

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The U.S. is 'basically at full employment'
« on: May 23, 2016, 03:25:59 PM »
http://www.democraticunderground.com/10027850820

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The Straight Story (48,035 posts)

The U.S. is 'basically at full employment'

America's job crisis is over, says one of the nation's top economists.

"We're basically at full employment," said San Francisco Federal Reserve President John Williams on Monday. "That's very good news."

Williams believes the U.S. economy is "back on track," and the Fed deserves a lot of the credit for the dramatic turnaround. (President Barack Obama too has been trying to take a "victory lap" on the economy).

Unlike presidential candidates Donald Trump and Bernie Sanders, Williams sees a lot to be happy about. He points to "good" growth of about 2% a year and an unemployment rate that went from 10% at the worst of the Great Recession back down to just 5% now.

http://www.koco.com/money/the-us-is-basically-at-full-employment/39682132

I am not sure who is the bigger idiot - the San Francisco Fed President or the DUmmie who is quoting him. As you will see there seems to be a little bit of disagreement from the island of misfit idiots...

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TransitJohn (6,634 posts)
1. LOL

First time in my adult life out of work starting last March. No one hiring geologists.

^^^ Don't believe your lying eyes...

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GoCubsGo (15,747 posts)
10. They're not hiring biologists, either.

Especially not those of us over 50. And, they haven't been for a long time. Nothing like forced retirement when you are years from being able to collect what little retirement you were able to save, without being penalized for it.

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Runningdawg (476 posts)
4. I will believe it

when those jobs guarantee 40 hours per week. Working 2-3 part time jobs a week isn't progress.

^^^ Apparently does not like his lot in the wonderful Obama economy

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HassleCat (4,491 posts)
5. For people such as him, yes.

Williams has a nice job, a big salary, etc. He doesn't have to decide whether to pay the rent or the grocery bill this month. Underemployment, outsourcing, guest workers, etc. all force many workers into low paying jobs at far less money than their skills and education merit. Good for corporations, though, so let's all be happy.

^^^ Is it really referring to illegal aliens but just cannot bring itself to say the words?

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Takket (2,467 posts)
7. sweet..........

now all we have to do it..........

establish a living wage
get everyone making the same amount as white men for doing the same work
stop the destruction of unions nationwide
make it possible for people to actually plan for a retirement by ending wage stagnation
bring back jobs that pay respectable salaries so we aren't living paycheck to paycheck in jobs we are overqualified for
and make it possible to get the education needed for those jobs without sinking 100k into debt

but yeah other than that, everything is just peachy!

^^^ Feeling the Bern - let us know how that turns out

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WDIM (1,602 posts)
12. Real unemployment is closer to 20 percent

The vast majority of unemployed are not participating in the labor market and are not counted in their statistics. Names faceless and penniless.

^^^ I think that somebody keeps saying this

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AtomicKitten (46,214 posts)
14. I'm making half of what I was making just 5 years ago, so I'm not impressed with the status quo.

^^^ Another winner from the Obama years. I wonder if it is better off than it was 8 years ago?

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LanternWaste (24,619 posts)
15. A 5% unemployment rate is now defined as full employment?

A 5% unemployment rate is now defined as full employment?

Has the standard definition changed is the author simply unaware that Full Employment has a precise meaning...?

(Yes, I read the article. No he does not address my point).

^^^ I seem to remember Nancy Pelosi giving the Bush administration hell over 5% unemployment. Now 5% is nirvana. How does that work?

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philosslayer (2,213 posts)
18. Another success by President Obama

That will further cement his legacy. Well done Sir!!!

^^^ Can't tell if serious post
« Last Edit: May 23, 2016, 03:30:40 PM by FaC »
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Offline Carl

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Re: The U.S. is 'basically at full employment'
« Reply #1 on: May 23, 2016, 03:50:12 PM »
What`s wrong DUmbasses,your child king was supposed to have made everything milk and honey.
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Offline DumbAss Tanker

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Re: The U.S. is 'basically at full employment'
« Reply #2 on: May 23, 2016, 04:17:14 PM »
Now that the concept of 'Full employment' has come to encompass millions of people who have only a part-time, minimum-to-low wage job, I suppose so.  Amazing what you can do when you set the bar low enough.
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Offline jukin

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Re: The U.S. is 'basically at full employment'
« Reply #3 on: May 23, 2016, 04:21:56 PM »
Between 95 to 98 million out of the workforce and therefore not counted in unemployment numbers. If the same percentage of people were in the workforce as under Bush, UE rate would be well over 12%.

Also, highest percentage of people on food stamps. Record number of people in poverty. Record number of children in poverty. Over ten trillion in new federal debt (for the children). No other president has ever had under 3% GDP growth in his tenure.  I don't think we can take anymore economic success from Obama and his team of teenage girls.
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When you are the beneficiary of someone’s kindness and generosity, it produces a sense of gratitude and community.

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Offline thundley4

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Re: The U.S. is 'basically at full employment'
« Reply #4 on: May 23, 2016, 05:10:36 PM »
Quote
LanternWaste (24,619 posts)
15. A 5% unemployment rate is now defined as full employment?

A 5% unemployment rate is now defined as full employment?

Has the standard definition changed is the author simply unaware that Full Employment has a precise meaning...?

(Yes, I read the article. No he does not address my point).

I've always heard that full employment was considered to be between 2.5 and 4.5%.

Quote
^^^ I seem to remember Nancy Pelosi giving the Bush administration hell over 5% unemployment. Now 5% is nirvana. How does that work?

Actually, the left was attacking President Bush when the UE rate was down at 4.3%.
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Offline Patriot Guard Rider

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Re: The U.S. is 'basically at full employment'
« Reply #5 on: May 23, 2016, 05:52:33 PM »
Quote from: DumbAss Tanker on May 23, 2016, 04:17:14 PM
Now that the concept of 'Full employment' has come to encompass millions of people who have only a part-time, minimum-to-low wage job, I suppose so.  Amazing what you can do when you set the bar low enough.

Watch. If Trump wins all of a sudden the bar will be set extremely high. All of a sudden the REAL unemployment numbers will come out and it will all be blamed on him.

For the DUmmies: Just think, when everyone is out of a job, and falls off unemployment and is no longer counted, the unemployment rate will be 0.0%. Now THAT'S full employment.
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Offline I_B_Perky

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Re: The U.S. is 'basically at full employment'
« Reply #6 on: May 23, 2016, 06:13:19 PM »
Reality is a whole different story, dummies.  The oconomy is sputtering thanks to the obumbles admin.  Elections have ramifications and I hope all you dummies starve and die a miserable death on a park bench.

Serves your asses right.  You idiots

:ownit:


 
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Offline I_B_Perky

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Re: The U.S. is 'basically at full employment'
« Reply #7 on: May 23, 2016, 06:41:10 PM »
Just to let you dummies know:

http://dailysignal.com/2016/05/23/20642-new-regulations-added-in-the-obama-presidency/

An excerpt:
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The tide of red tape that threatens to drown U.S. consumers and businesses surged yet again in 2015, according to a Heritage Foundation study we released on Monday.

More than $22 billion per year in new regulatory costs were imposed on Americans last year, pushing the total burden for the Obama years to exceed $100 billion annually.

You cannot take that kind of money out of the economy and expect it to do anything but sputter.  Ridicule the source all you want dummies... in your heart you know it is true.  Now embrace the suck and go die on a park bench... your god will be playing golf while you starve to death.
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Offline Ptarmigan

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Re: The U.S. is 'basically at full employment'
« Reply #8 on: May 23, 2016, 07:03:39 PM »
Quote
The Straight Story (48,035 posts)

The U.S. is 'basically at full employment'

America's job crisis is over, says one of the nation's top economists.

"We're basically at full employment," said San Francisco Federal Reserve President John Williams on Monday. "That's very good news."

Williams believes the U.S. economy is "back on track," and the Fed deserves a lot of the credit for the dramatic turnaround. (President Barack Obama too has been trying to take a "victory lap" on the economy).

Unlike presidential candidates Donald Trump and Bernie Sanders, Williams sees a lot to be happy about. He points to "good" growth of about 2% a year and an unemployment rate that went from 10% at the worst of the Great Recession back down to just 5% now.

http://www.koco.com/money/the-us-is-basically-at-full-employment/39682132

WRONG! Try the employment participation.

Employment participation is at 62.7%. That is nowhere prior to 2008.
http://data.bls.gov/timeseries/LNS11300000

Employment Situation - Bureau of Labor Statistics
http://www.bls.gov/news.release/pdf/empsit.pdf
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Offline Delmar

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Re: The U.S. is 'basically at full employment'
« Reply #9 on: May 23, 2016, 07:24:37 PM »
Quote
Response to The Straight Story (Original post)Mon May 23, 2016, 03:56 PM
philosslayer (2,219 posts)
18. Another success by President Obama

That will further cement his legacy. Well done Sir!!!

Take a bow!

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Offline jukin

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Re: The U.S. is 'basically at full employment'
« Reply #10 on: May 23, 2016, 08:41:51 PM »
YEs the most transparent admini...regime ever in the USA rejiggered the GDP numbers in late 11-early 12. Without that lie we would be in recession for the last 4 years.

Real people know this.
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When you are the beneficiary of someone’s kindness and generosity, it produces a sense of gratitude and community.

When you are the beneficiary of a policy that steals from someone and gives it to you in return for your vote, it produces a sense of entitlement and dependency.

Offline 98ZJUSMC

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Re: The U.S. is 'basically at full employment'
« Reply #11 on: May 23, 2016, 08:57:49 PM »
Quote from: jukin on May 23, 2016, 04:21:56 PM
Between 95 to 98 million out of the workforce and therefore not counted in unemployment numbers. If the same percentage of people were in the workforce as under Bush, UE rate would be well over 12%.

Also, highest percentage of people on food stamps. Record number of people in poverty. Record number of children in poverty. Over ten trillion in new federal debt (for the children). No other president has ever had under 3% GDP growth in his tenure.  I don't think we can take anymore economic success from Obama and his team of teenage girls.

Yeah ....... at an actual rate of 5%, they were:  McJobs.  Which the (D)Marxists seem proud of, all of the sudden.

Quote from: jukin on May 23, 2016, 08:41:51 PM
YEs the most transparent admini...regime ever in the USA rejiggered the GDP numbers in late 11-early 12. Without that lie we would be in recession for the last 4 years.

Real people know this.

We never got out of it.
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Liberal thinking is a two-legged stool and magical thinking is one of the legs, the other is a combination of self-loating and misanthropy.  To understand it, you would have to be able to sit on that stool while juggling two elephants, an anvil and a fragmentation grenade, sans pin.

"Accuse others of what you do." - Karl Marx

Offline Karin

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Re: The U.S. is 'basically at full employment'
« Reply #12 on: May 27, 2016, 01:59:56 PM »
I went to the original article.  Nobody had commented yet so I left this:

Quote
You have got to be kidding me!  Between 95 and 98 million people are out of the workforce.  People are making half of what they did five years ago, if they're lucky enough to have a job.  Williams is seriously out of touch, and therefore not qualified for this job.  Do you know how many people stretch their grocery budget by dumpster diving?

And I believe philoslayer was serious.  I'm beginning to hate this guy very much.
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Offline GOBUCKS

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Re: The U.S. is 'basically at full employment'
« Reply #13 on: May 27, 2016, 07:25:31 PM »
If we're in the midst of economic calamity as some believe, who's buying all these new cars, four-bedroom homes, widescreen 4K televisions, $700 cellphones, and new office buildings, while household debt is declining?

There are always bad segments, like the oil patch right now, but from here in red state hell, things look pretty good.

There's a lot of consumin' goin' on around here.
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Offline thundley4

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Re: The U.S. is 'basically at full employment'
« Reply #14 on: May 27, 2016, 07:30:22 PM »
Quote from: GOBUCKS on May 27, 2016, 07:25:31 PM
If we're in the midst of economic calamity as some believe, who's buying all these new cars, four-bedroom homes, widescreen 4K televisions, $700 cellphones, and new office buildings, while household debt is declining?

There are always bad segments, like the oil patch right now, but from here in red state hell, things look pretty good.

There's a lot of consumin' goin' on around here.

Illinois, ran by damn dim democrats is hemorrhaging jobs, and people are fleeing the state looking for new jobs.

What is the Democrat leader of the house solution? Propose a budget with a $7 billion dollar deficit, even though the Illinois constitution calls for a balanced budget.
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Offline landofconfusion80

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Re: The U.S. is 'basically at full employment'
« Reply #15 on: May 27, 2016, 07:48:48 PM »
Quote from: GOBUCKS on May 27, 2016, 07:25:31 PM
If we're in the midst of economic calamity as some believe, who's buying all these new cars, four-bedroom homes, widescreen 4K televisions, $700 cellphones, and new office buildings, while household debt is declining?

There are always bad segments, like the oil patch right now, but from here in red state hell, things look pretty good.

There's a lot of consumin' goin' on around here.
About that oil patch.... pretty happy with it at the moment

Sent from my SCH-I545 using Tapatalk

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One Who Grows (244 posts)
20. absolute bullshit. the cave is unspeakably vile.

I don't know how any of you can live with yourselves.

:)

Offline jukin

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Re: The U.S. is 'basically at full employment'
« Reply #16 on: May 28, 2016, 05:30:53 PM »
Quote from: GOBUCKS on May 27, 2016, 07:25:31 PM
If we're in the midst of economic calamity as some believe, who's buying all these new cars, four-bedroom homes, widescreen 4K televisions, $700 cellphones, and new office buildings, while household debt is declining?

There are always bad segments, like the oil patch right now, but from here in red state hell, things look pretty good.

There's a lot of consumin' goin' on around here.

wELL HIGEST EVER CONSUMER CREDIT, AUTO CREDIT, AND STUDENT LOAN DEBT MAY JUST BE A PART OF IT.

OF COURSE THE TEN TRILLION IN PRINTED MONEY (fED DEBT) AND THE 4-5 TRILLION THE FEDS ARE PUMPING HAVE GOT THE STOCK MARKET UP. 
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When you are the beneficiary of someone’s kindness and generosity, it produces a sense of gratitude and community.

When you are the beneficiary of a policy that steals from someone and gives it to you in return for your vote, it produces a sense of entitlement and dependency.

Offline 98ZJUSMC

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Re: The U.S. is 'basically at full employment'
« Reply #17 on: May 28, 2016, 09:10:24 PM »
Quote from: thundley4 on May 23, 2016, 05:10:36 PM
I've always heard that full employment was considered to be between 2.5 and 4.5%.

Actually, the left was attacking President Bush when the UE rate was down at 4.3%.

:hi5:  Yeah, all those McJobs.

Quote
WDIM (1,602 posts)
12. Real unemployment is closer to 20 percent

You're not going to last long, throwing truth cocktails around like that.
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Liberal thinking is a two-legged stool and magical thinking is one of the legs, the other is a combination of self-loating and misanthropy.  To understand it, you would have to be able to sit on that stool while juggling two elephants, an anvil and a fragmentation grenade, sans pin.

"Accuse others of what you do." - Karl Marx

Offline 98ZJUSMC

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Re: The U.S. is 'basically at full employment'
« Reply #18 on: May 28, 2016, 09:13:59 PM »
Quote from: thundley4 on May 27, 2016, 07:30:22 PM
Illinois, ran by damn dim democrats is hemorrhaging jobs, and people are fleeing the state looking for new jobs.

What is the Democrat leader of the house solution? Propose a budget with a $7 billion dollar deficit, even though the Illinois constitution calls for a balanced budget.

Starting to see a lot of "For Sale" signs going up in So. Ill.

Along with Property Taxes.  Imagine that.   :argh: :argh: :argh:
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Liberal thinking is a two-legged stool and magical thinking is one of the legs, the other is a combination of self-loating and misanthropy.  To understand it, you would have to be able to sit on that stool while juggling two elephants, an anvil and a fragmentation grenade, sans pin.

"Accuse others of what you do." - Karl Marx

Offline thundley4

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Re: The U.S. is 'basically at full employment'
« Reply #19 on: May 29, 2016, 04:48:53 AM »
Quote from: 98ZJUSMC on May 28, 2016, 09:13:59 PM
Starting to see a lot of "For Sale" signs going up in So. Ill.

Along with Property Taxes.  Imagine that.   :argh: :argh: :argh:

Illinois has some of the highest property taxes in the nation.  Chicago and Crook County are so bad than some people pay more in property taxes each year than they pay for their mortgages.
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Offline BlueStateSaint

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Re: The U.S. is 'basically at full employment'
« Reply #20 on: May 29, 2016, 05:17:32 AM »
Quote from: thundley4 on May 29, 2016, 04:48:53 AM
Illinois has some of the highest property taxes in the nation.  Chicago and Crook County are so bad than some people pay more in property taxes each year than they pay for their mortgages.

One of the things that Dandy Andy Cuomo did do for NYS was to institute a property tax cap.  No more than a 2% raise yearly without a referendum of the muni affected.  It has been effective and popular, for the most part.
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Offline Ptarmigan

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Re: The U.S. is 'basically at full employment'
« Reply #21 on: May 30, 2016, 10:42:14 AM »
Quote from: thundley4 on May 29, 2016, 04:48:53 AM
Illinois has some of the highest property taxes in the nation.  Chicago and Crook County are so bad than some people pay more in property taxes each year than they pay for their mortgages.

Yet Chicago has a lot of crime and a pension crisis.
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Offline 98ZJUSMC

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Re: The U.S. is 'basically at full employment'
« Reply #22 on: May 31, 2016, 12:40:10 AM »
Quote from: thundley4 on May 29, 2016, 04:48:53 AM
Illinois has some of the highest property taxes in the nation.  Chicago and Crook County are so bad than some people pay more in property taxes each year than they pay for their mortgages.

I am getting close to that point.  The monthly amount that I must save to pay thier f***king taxes, is getting close to my original mortgage (long since paid off).

....and that was a ten year note, not a thirty.   :bird: Illinois. 

 This is because I live on Lake of Egypt and we're all rich ......    ::)
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Liberal thinking is a two-legged stool and magical thinking is one of the legs, the other is a combination of self-loating and misanthropy.  To understand it, you would have to be able to sit on that stool while juggling two elephants, an anvil and a fragmentation grenade, sans pin.

"Accuse others of what you do." - Karl Marx
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