HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Payroll employment contin... » Reply #42

Response to SoFlaJet (Reply #13)

Fri Jul 6, 2012, 03:15 PM

42. Some people remember more than 4 years ago.

Then the unemployment rate was 4.5% and when job creation was 100k it was dismal. A jobs report of only 75k new jobs caused the stock market to take a nosedive. We compared the job creation numbers with what was either good or what was needed.

We couldn't get past the fact that we needed 200k new jobs a month to keep up with population growth. We were irate that the unemployment rate was only 4.5% and that the recovery from the recession we had after the tech bubble burst and the stock market tanked had taken 3 years to get us back to the historically very low unemployment rates.

Now we chortle that the private sector jobs are back up to where they were on inauguration day, instead of what they were before the recession. Some exult in 80k/month job creation because, well, it could be worse. Instead of saying, "Let's compare this with where it needs to be, which is usual, let's compare it with how bad it could be." Nice change of standards, and not a particularly useful one in terms of economics.

hen again, it still annoys me that we focus on the first derivative of the unemployment curve (net job creation/loss) rather than the unemployment curve itself. The one points out when job lost was happening at its highest rate--the last month or two of * and the first month or two of Obama--and while it's a nice inflection point, it's not when the unemployment situation actually reversed.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 62 replies Author Time Post
mahatmakanejeeves Jul 2012 OP
Inuca Jul 2012 #1
IamK Jul 2012 #2
Inuca Jul 2012 #3
SoFlaJet Jul 2012 #13
stockholmer Jul 2012 #35
LineLineLineReply Some people remember more than 4 years ago.
Igel Jul 2012 #42
BumRushDaShow Jul 2012 #4
Firebrand Gary Jul 2012 #5
stockholmer Jul 2012 #11
amandabeech Jul 2012 #33
Citizen Worker Jul 2012 #40
byeya Jul 2012 #56
Citizen Worker Jul 2012 #39
Huey P. Long Jul 2012 #26
Firebrand Gary Jul 2012 #36
BT021 Jul 2012 #59
RBInMaine Jul 2012 #34
karynnj Jul 2012 #6
mahatmakanejeeves Jul 2012 #7
alp227 Jul 2012 #15
karynnj Jul 2012 #41
mahatmakanejeeves Jul 2012 #45
24601 Jul 2012 #51
stockholmer Jul 2012 #8
demwing Jul 2012 #16
stockholmer Jul 2012 #17
demwing Jul 2012 #18
Mayflower1 Jul 2012 #24
stockholmer Jul 2012 #27
MannyGoldstein Jul 2012 #9
Mayflower1 Jul 2012 #29
MannyGoldstein Jul 2012 #43
flpoljunkie Jul 2012 #10
stockholmer Jul 2012 #12
pinqy Jul 2012 #20
stockholmer Jul 2012 #30
pinqy Jul 2012 #38
Roland99 Jul 2012 #14
pinqy Jul 2012 #19
Cosmocat Jul 2012 #31
Kingofalldems Jul 2012 #21
SunSeeker Jul 2012 #22
Cosmocat Jul 2012 #32
Igel Jul 2012 #44
Beacool Jul 2012 #23
TouchOfGray Jul 2012 #25
Kingofalldems Jul 2012 #47
Kingofalldems Jul 2012 #48
TouchOfGray Jul 2012 #49
SunSeeker Jul 2012 #52
Kingofalldems Jul 2012 #53
SomeGuyInEagan Jul 2012 #28
Psephos Jul 2012 #46
SomeGuyInEagan Jul 2012 #54
Psephos Jul 2012 #58
SomeGuyInEagan Jul 2012 #60
Psephos Jul 2012 #61
SomeGuyInEagan Jul 2012 #62
emilyg Jul 2012 #37
high density Jul 2012 #50
Cronkite Jul 2012 #55
4th law of robotics Jul 2012 #57
Please login to view edit histories.