Dec unemployment - 7.8%

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  1. #1

    Dec unemployment - 7.8%

    http://www.huffingtonpost.com/2013/0...n_2408637.html

    Nov revised up from 7.7 to 7.8%...

    155k jobs added in Dec

    2012 - 153k per month on average...same as 2011

    An additional 164k unemployed up to 12.2 million

    Far too slow to make any true headway...

  2. #2

  3. #3
    nocalsooner's Avatar
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    Originally Posted by pphilfran View Post
    http://www.huffingtonpost.com/2013/0...n_2408637.html

    Nov revised up from 7.7 to 7.8%...

    155k jobs added in Dec

    2012 - 153k per month on average...same as 2011

    An additional 164k unemployed up to 12.2 million

    Far too slow to make any true headway...

    all pre-fiscal cliff agreement -- with lots of hiring delayed until deal was done. Numbers should improve in 2013

  4. #4

    Dec unemployment - 7.8%

    Originally Posted by nocalsooner View Post
    all pre-fiscal cliff agreement -- with lots of hiring delayed until deal was done. Numbers should improve in 2013
    The cliff thing was 2 months long. Now it lands on the debt ceiling deal. O wants more taxes again. This didn't give anyone any long term certainty.

  5. #5
    Originally Posted by nocalsooner View Post
    all pre-fiscal cliff agreement -- with lots of hiring delayed until deal was done. Numbers should improve in 2013
    I am not so sure...pulling out 2% of discretionary spending (higher taxes. back to full SS payroll tax) is not going to help...

    And we haven;'t begun to touch the spending side...still lots of hurdles to climb over the next couple of months...

  6. #6

    Re: Dec unemployment - 7.8%

    Heard again on NPR that despite who won the elections, analysts predict 12 million jobs in the next 4 years.

  7. #7
    Originally Posted by OnlyOneOklahoma View Post
    Heard again on NPR that despite who won the elections, analysts predict 12 million jobs in the next 4 years.
    They are on drugs...3 million per year....250k per month?

    They had better do something to get the economy up and running...we have had four months over the last four years where 250k were generated in a month....and raising taxes isn't going to do that...cutting spending is not going to do that...

  8. #8

    Dec unemployment - 7.8%

    Part of that depends on where the spending cuts are.

  9. #9
    During the boom in the 90's we had the following annual job creation...does anyone think our current economic situation is similar to the Clinton years?

    http://data.bls.gov/pdq/SurveyOutputServlet

    1992 - 1.154 million
    1993 - 2.788
    1994 - 3.851
    1995 - 2.153
    1996 - 2.794
    1997 - 3.355
    1998 - 3.002
    1999 - 3.174
    2000 - 1.948

  10. #10
    Originally Posted by oucub23 View Post
    Part of that depends on where the spending cuts are.
    There are not very many places to cut current spending without harming the economy...

  11. #11
    OOO...do you have a link to NPR talking about 12 million jobs in four years? All I can find relates to Romney using those numbers during his campaign...

  12. #12
    Originally Posted by pphilfran View Post
    OOO...do you have a link to NPR talking about 12 million jobs in four years? All I can find relates to Romney using those numbers during his campaign...
    Do you know where Romney came up with that number? I don't recall offhand.

  13. #13
    Originally Posted by Sinatra View Post
    Do you know where Romney came up with that number? I don't recall offhand.
    he pulled it out of his ass...if I am not mistaken he initially said we should be generating 400k per month when coming out of a recession...

  14. #14
    SoonerAmongThePack's Avatar
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    Originally Posted by pphilfran View Post
    During the boom in the 90's we had the following annual job creation...does anyone think our current economic situation is similar to the Clinton years?

    http://data.bls.gov/pdq/SurveyOutputServlet

    1992 - 1.154 million
    1993 - 2.788
    1994 - 3.851
    1995 - 2.153
    1996 - 2.794
    1997 - 3.355
    1998 - 3.002
    1999 - 3.174
    2000 - 1.948
    Yea, that isn't happenning. Nothing as revolutionary as the internet even remotely close on the horizon.

  15. #15
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    Originally Posted by SoonerAmongThePack View Post
    Yea, that isn't happenning. Nothing as revolutionary as the internet even remotely close on the horizon.
    Ha, or ever.

    I think the next evolution in employment and national efficiency will spawn from this concept:

    www.taskrabbit.com

  16. #16
    Yuck Fu's Avatar
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    Originally Posted by SoonerAmongThePack View Post
    Yea, that isn't happenning. Nothing as revolutionary as the internet even remotely close on the horizon.
    Well they finally invented those flying cars we've been waiting for all these years.

  17. #17
    Phil, not sure what OOO heard so I don't want to speak for him, but I found this from NPR in October:

    http://www.npr.org/blogs/itsallpolit...en-if-he-loses

    The 12 million jobs has been my forecast for quite some time," says Mark Zandi, chief economist at Moody's Analytics.

    Zandi is in the economic forecasting business, and he expects the economy to add an average of 3 million jobs a year over the next four years, which would total 12 million jobs.

    Zandi adds that he doesn't know who will win the presidency. And for the purposes of this projection, it doesn't much matter.

    "Cold hard facts. Politics completely aside. I'm just doing the numbers," says Zandi. "I feel confident that we're going to create 12 million jobs over the next four years and we're going to feel a lot better about this economy, regardless of who is president."

    What makes him so confident? A lot of modeling and a deep dive into industry-level economic data. In particular, he expects the housing market to finally break out of the deep freeze it's been in since the financial crisis hit.

    "The housing cycle's going to kick into gear. A lot more homes are going to be built, office buildings, retail space. House prices are going to rise," says Zandi. "That's going to lift consumer spending and retailing and leisure and hospitality, and this is going to create a lot of jobs."

    Zandi isn't the only one predicting robust job growth. Joel Prakken, senior managing director of Macroeconomic Advisers, forecasts 11 million jobs added over the next president's term.

    "That is not based on anyone's particular set of economic policies," Prakken adds.

    When he first heard Romney's 12 million jobs claim, Prakken says he scurried to his calculator. And what he found was Romney's campaign promise fit well with broad economic trends.

  18. #18
    SoonerAmongThePack's Avatar
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    Originally Posted by OUMallen View Post
    Ha, or ever.

    I think the next evolution in employment and national efficiency will spawn from this concept:

    www.taskrabbit.com
    What an indictment that is!

    The only thing I can think of is robotics. Of course that ends in a robot apocalypse, so that might not be all that appealing.

  19. #19
    OUMallen's Avatar
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    Originally Posted by SoonerAmongThePack View Post
    What an indictment that is!

    The only thing I can think of is robotics. Of course that ends in a robot apocalypse, so that might not be all that appealing.
    You'll see. This is one of the "Big Ones" the internet is going to spawn. Big like PayPal, IMO. Will change the way things are done, IMO, and possibly usher in a new concept or type of employment.

  20. #20
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    Originally Posted by pphilfran View Post
    I am not so sure...pulling out 2% of discretionary spending (higher taxes. back to full SS payroll tax) is not going to help...

    And we haven;'t begun to touch the spending side...still lots of hurdles to climb over the next couple of months...
    YES! Thank you. I just got my new leave & earnings statement....its about $55 less a paycheck or $1,200/yearly down from what it was before. I believe these are the payroll taxes that have been raised. Either way, it pisses me off because new taxes will not make a dent in the total debt. And the debt ceiling was raises which means, O plans on spending MORE.

  21. #21
    KCRuf/Nek's Avatar
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    Too bad we don't have an election coming up. It might have been 6.8%.
    3 users like KCRuf/Nek's post: Eigenvalue, Soonerpsycho, ThievingMagpie


  22. #22
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    Originally Posted by KCRuf/Nek View Post
    Too bad we don't have an election coming up. It might have been 6.8%.
    Oh you cheeky guy!

  23. #23
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    Originally Posted by Yatahaze View Post
    Oh you cheeky guy!
    You know some people aren't happy unless they're unhappy.

  24. #24
    SarasotaSooner's Avatar
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    Re: Dec unemployment - 7.8%

    Originally Posted by pphilfran View Post
    http://www.huffingtonpost.com/2013/0...n_2408637.html

    Nov revised up from 7.7 to 7.8%...

    155k jobs added in Dec

    2012 - 153k per month on average...same as 2011

    An additional 164k unemployed up to 12.2 million

    Far too slow to make any true headway...
    His voters dont work or pay taxes, they could care less

    Sent from my SCH-I535 using Tapatalk 2

  25. #25
    nocalsooner's Avatar
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    Originally Posted by oucub23 View Post
    The cliff thing was 2 months long. Now it lands on the debt ceiling deal. O wants more taxes again. This didn't give anyone any long term certainty.
    The new tax rates don't expire in 2 months. Everyone knows the marginal rates for income and the rates for capital gains/investment/dividends. There is long term certainty on the rates.

  26. #26
    Originally Posted by nocalsooner View Post
    Everyone knows the marginal rates for income and the rates for capital gains/investment/dividends. There is long term certainty on the rates.
    Absolutely correct. Unlike during each of the previous 12 years, the law imposing the rates now in effect is permanent.

  27. #27
    Originally Posted by nocalsooner View Post
    The new tax rates don't expire in 2 months. Everyone knows the marginal rates for income and the rates for capital gains/investment/dividends. There is long term certainty on the rates.
    That is damn sure a benefit...when people are ****ing about something you kick out the crutch and then see what they have to whine about...I bet we see a big spike in cap gains revenue from 2012 and lower cap gains revenue in 2013....

  28. #28
    Originally Posted by nolesooner View Post
    YES! Thank you. I just got my new leave & earnings statement....its about $55 less a paycheck or $1,200/yearly down from what it was before. I believe these are the payroll taxes that have been raised. Either way, it pisses me off because new taxes will not make a dent in the total debt. And the debt ceiling was raises which means, O plans on spending MORE.
    Unless spending is cut below a point where we can pay off more per year than the interest on the current debt, the ceiling has to be raised. Our economy couldn't sustain those types of cuts.

  29. #29
    Participation Rate remains horrendous. It will be hard for me to take a number >7.25% seriously unless the participation rate is also reasonable (~65%)

    If we were at 7% with the current participation rate, I'd be a lot more at ease. Or if we were at the current 7.8% with a participation rate of close to 65%, then I'd also be more at ease.

  30. #30
    KCRuf/Nek's Avatar
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    Originally Posted by brokebacksooner View Post
    Unless spending is cut below a point where we can pay off more per year than the interest on the current debt, the ceiling has to be raised. Our economy couldn't sustain those types of cuts.
    So saving money won't work so let's just spend ourselves into a coma? The way things are going it doesn't matter.

  31. #31
    Originally Posted by KCRuf/Nek View Post
    So saving money won't work so let's just spend ourselves into a coma? The way things are going it doesn't matter.
    How do you come to conclusion that I am saying that? I'm saying that the debt ceiling is either raised or we default. How it should work is we go longer and longer between needs to raise the ceiling as we smartly reduce spending until it becomce moot because we have started reducing the debt.

  32. #32
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    Originally Posted by brokebacksooner View Post
    How do you come to conclusion that I am saying that? I'm saying that the debt ceiling is either raised or we default. How it should work is we go longer and longer between needs to raise the ceiling as we smartly reduce spending until it becomce moot because we have started reducing the debt.
    I guess I thought you were saying that we can't cut enough to make a difference but we can raise our spending. This debt ceiling is just another ponzi scheme. They will continue to raise it or course seniors, children, the poor, and conveniently the military will suffer. Funny we never hear about cutting PP, NPR, or big bird then.

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