Jobless Rate Hits 53-Year Low, unemployment rate fell to 3.4%

[Thavoiceofthevoiceless]

They didn't fake stats, you can argue on the lines of how stats are taken & what can be implicated from the results.

I never said that stats were faked. I said that they could be manipulated to fit a certain narrative or agenda. It's a difference.

 

[Thavoiceofthevoiceless]

I have. It closely tracks the reported unemployment rate. There's nothing you're saying now that wasn't applicable at any point in the past. The unemployment rate (whether "true" or reported) is low relative to past history.

This is real simple to resolve. Post a link of an economic or banking firm doubting the validity of the posted numbers.

Bloomberg - Are you a robot?

www.bloomberg.com

Every economist isn't going to have the same reaction to data and statistics provided and it's disingenuous to sit here and say otherwise. It's why bringing politics into the discussion is corny as shyt as these of discussions happen on a daily basis in the real world outside of The Coli.

 

[Thanos]

It’s actually a great gauge. low unemployment means high demand

because you see 30% doesn't necessarily saying anything how the story behind it.

 

[Cakebatter]

BLS stats are calculated the same way every year. Why do dummies continue to fail to know what indexes are and how to use them?? Are they actually representative of unemployment rates? Probably not. But are they useful to compare economic health QoQ and YoY? Yes because it's a consistent metric.

If you can have the same unemployment rate when the laborforce participation rate is at 60% and at 68%, its a useless metric for gauging the economic health of the country, especially after the lockdowns. Unemployment rates are frequently compared across multiple decades, as in the article linked. Its simply a manipulation tool just like the CPI based inflation rate. FYI, the inflation rate use to be an index of the cost of goods (COGI). Anytime someone mentions inflation, its always used in that context. It was changed to a cost of living index (COLI), but the context of its use doesn't reflect the change. Again, another tool to manipulate markets.

 

[Dafunkdoc_Unlimited]

How, exactly, do the jobless/unemployment rates affect COL??​

 

[Cakebatter]

How, exactly, do the jobless/unemployment rates affect COL??​

The current economic narrative is the Fed is waiting for higher unemployment numbers before they lower or at least stop raising interest rates. If rates are lowered or signaled they will not longer rise, debt becomes cheaper: lower mortgage rates, lower auto loans, lower floor planning costs for businesses.

 

[Dafunkdoc_Unlimited]

The current economic narrative is the Fed is waiting for higher unemployment numbers before they lower or at least stop raising interest rates. If rates are lowered or signaled they will not longer rise, debt becomes cheaper: lower mortgage rates, lower auto loans, lower floor planning costs for businesses.

If the 'narrative' is, in fact, the objective case, then is that a good/bad/indifferent thing?​

 

[Cakebatter]

If the 'narrative' is, in fact, the objective case, then is that a good/bad/indifferent thing?​

I don't know. Higher interest rates historically were passed down to consumers' savings accounts and CD ROIs. Is that better than cheap debt? Maybe? My issue is, if the current high inflation is due to excessive money printing, and the fact that it primarily went into bond buying, corporate bailouts, and the purchases of mortgage backed securities, how does raising interest rates remedy the problem? If you look at all the spending over the pandemic, you can add up all the stimulus checks, extra unemployment benefits, and PPP loans, and it doesn't account for even a 1/3 of the money printed. My opinion is the treasury opened its pocketbook to Wall St, but the Fed wants to squeeze it back out of the general public. Corporations didn't reinvest that money, they bought back stocks and gave out dividends.

 

[Dafunkdoc_Unlimited]

I don't know. Higher interest rates historically were passed down to consumers' savings accounts and CD ROIs. Is that better than cheap debt? Maybe? My issue is, if the current high inflation is due to excessive money printing, and the fact that it primarily went into bond buying, corporate bailouts, and the purchases of mortgage backed securities, how does raising interest rates remedy the problem? If you look at all the spending over the pandemic, you can add up all the stimulus checks, extra unemployment benefits, and PPP loans, and it doesn't account for even a 1/3 of the money printed. My opinion is the treasury opened its pocketbook to Wall St, but the Fed wants to squeeze it back out of the general public. Corporations didn't reinvest that money, they bought back stocks and gave out dividends.

Would lowering interest rates remedy the problem?​

 

[Thavoiceofthevoiceless]

I don't know. Higher interest rates historically were passed down to consumers' savings accounts and CD ROIs. Is that better than cheap debt? Maybe? My issue is, if the current high inflation is due to excessive money printing, and the fact that it primarily went into bond buying, corporate bailouts, and the purchases of mortgage backed securities, how does raising interest rates remedy the problem? If you look at all the spending over the pandemic, you can add up all the stimulus checks, extra unemployment benefits, and PPP loans, and it doesn't account for even a 1/3 of the money printed. My opinion is the treasury opened its pocketbook to Wall St, but the Fed wants to squeeze it back out of the general public. Corporations didn't reinvest that money, they bought back stocks and gave out dividends.

Correct answer, but this site can't handle those type of discussions without bringing politics into the mix even companies of both parties are benefitting from the exchange by extension of being wealthy.

 

[Cakebatter]

Correct answer, but this site can't handle those type of discussions without bringing politics into the mix even companies of both parties are benefitting from the exchange by extension of being wealthy.

Exactly. My viewpoints have nothing to do with who is in the White House or which party has power in the D.C. Hell, the bulk of the excessive money printing occurred under the watch of Trump and Mnuchin.

 

[JamesJabdi]

I hate to say it but this faggit is right

Breh and Breh coli economists looking for reasons to discredit official stats.

 

[Wild self]

Since when are we talking about these individuals in employment statistics with the exception of those that have given up looking which are included in that stat I provided.

So, if they permanently unemployed, how do they live in major cities? Welfare?

 

[GzUp]

If unemployment was high, these same posters would not be trying to discredit it.

 

[Elim Garak]

So, if they permanently unemployed, how do they live in major cities? Welfare?

It could be a number of possibilities anything from a stay at home parent to a disabled person.