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Author Topic: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May  (Read 1581 times)

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Offline endicom

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U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« on: June 01, 2018, 01:02:29 pm »
Market Watch
Jeffry Bartash
June 1, 2018

The numbers: The U.S. created a robust 223,000 new jobs in May to push unemployment down to an 18-year low of 3.8%, signaling that a nine-year-old economic expansion still has plenty of steam despite being one of the oldest ever.

The increase in hiring — the biggest in three months — exceeded the 200,000 forecast of economists polled by MarketWatch.

In an unusual and controversial move, President Trump foreshadowed the strong employment report in an early-morning tweet in which he said he looked forward to the May jobs figures. Investors took that to mean they should expect a good report.

More... https://www.marketwatch.com/story/us-gains-223000-new-jobs-in-may-unemployment-falls-to-18-year-of-38-2018-06-01
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Offline ABX

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #1 on: June 01, 2018, 01:31:53 pm »
They are still promoting adjusted U3 need numbers. Fake news.

Current U6 unemployment is at 7.4%.

https://unemploymentdata.com/current-u6-unemployment-rate/
« Last Edit: June 01, 2018, 01:34:38 pm by AbaraXas »
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Offline ABX

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #2 on: June 01, 2018, 01:34:10 pm »
And workforce participation is still just slightly off all time lows.

https://tradingeconomics.com/united-states/labor-force-participation-rate
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Offline SirLinksALot

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #3 on: June 01, 2018, 03:33:56 pm »


For all the talk that the slack in the labor force is set to decline, precisely the opposite is taking place, because in May, the number of people not in the labor force increased by another 170K, rising to 95.915 million, a new all time high.



Adding to this the 6.1 million currently unemployed Americans, there are 102 million Americans who are either unemployed or out of the labor force (and it is also worth noting that of those employed 26.9 million are part-time workers).



Establishment Survey print showed a +223K jump in total jobs, looking at the Household Survey showed one stunning outlier print: in May the number of full-time jobs rose from 127.753 million to 128.657 million, a 904K increase in one month, offset by a 625 plunge in low-quality, part-time jobs.

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Online Weird Tolkienish Figure

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #4 on: June 01, 2018, 03:35:37 pm »
Statistics damn lies and all that. From a personal observation, the labor market is damn tight. If you don't have a job at this point, you really don't want one. Just my opinion though.
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Offline SirLinksALot

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #5 on: June 01, 2018, 03:36:00 pm »
WHERE THE JOBS ARE AND AREN'T FOR MAY 2018.



Of note: while last month's jobs report was truly impressive in terms of job gains by industry, with the highest paying adding the most workers, in May we saw a continuation of many of the trends observed last month:

Continued strength in Goods Production: Mining (+5.5K), Construction (+25K) & Manufacturing (+18K).

Trade & Transportation Rebounded: Wholesale (+4.2 after a big drop last month), Retail (+31.1K), and Truck Transportation (+6.6K).

Here the surprise was that just 6.6K trucking jobs were added, following complaints from the major trucking employers, all of whom have noted they can't find enough people to hire, which suggests there may be an upward revision next month.

Some other highlights:

Professional Services were especially strong, driven by White collar demand (Technical services +22.6K). The offset: Temp workers came in soft declining by 7.8K.

Manufacturing also very strong at +18K: machinery added +5.8K jobs and fabricated metal products was up +2.4K

Education rebounded from last month's weakness at +39K:

Healthcare was steady: +31.73K: Employment rose in ambulatory health care services (+17,900) and hospitals (+6,200).

Leisure & Hospitality another strong month: +21K

Mining +4K with most of the gain coming from support activities for mining (+3,100).

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Online Weird Tolkienish Figure

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #6 on: June 01, 2018, 03:37:06 pm »
Quote from: SirLinksALot on June 01, 2018, 03:36:00 pm

Continued strength in Goods Production:

So why is Trump continually bleating on about a so-called lack of manufacturing jobs then?
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Offline txradioguy

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #7 on: June 02, 2018, 01:27:38 pm »
Quote from: AbaraXas on June 01, 2018, 01:31:53 pm
They are still promoting adjusted U3 need numbers. Fake news.

Current U6 unemployment is at 7.4%.

https://unemploymentdata.com/current-u6-unemployment-rate/

Amazing how people now ignore the very same numbers they used to use when the previous regime tried to make the same sketchy claims about low unemployment.

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Offline Frank Cannon

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #8 on: June 02, 2018, 01:43:04 pm »
Quote from: txradioguy on June 02, 2018, 01:27:38 pm
Amazing how people now ignore the very same numbers they used to use when the previous regime tried to make the same sketchy claims about low unemployment.

They are not sketchy claims. Some of us who work in the real world can see tangible evidence that people are working again. Businesses are having trouble expanding because of a shortage of labor. Overall comfort level of people who have been struggling the last 10 years is getting better.

BTW if you look at the good old U6 numbers for unemployment it is still down 3% from Obama's lows to around 7%.
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Oceander

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #9 on: June 02, 2018, 02:46:32 pm »
Quote from: Frank Cannon on June 02, 2018, 01:43:04 pm
They are not sketchy claims. Some of us who work in the real world can see tangible evidence that people are working again. Businesses are having trouble expanding because of a shortage of labor. Overall comfort level of people who have been struggling the last 10 years is getting better.

BTW if you look at the good old U6 numbers for unemployment it is still down 3% from Obama's lows to around 7%.

Clearly unemployment has gotten better in the last several years; however, trumpeting a patently false 3.8% figure doesn’t give the trumpeter much credibility, and opens the door to exactly this kind of attack. 
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Offline txradioguy

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #10 on: June 02, 2018, 03:11:19 pm »
The same experts on Fox News that are estatic anoit 223K jobs being added used to refer to that as enemic when Obama was in office.
« Last Edit: June 02, 2018, 03:11:54 pm by txradioguy »
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Offline Cyber Liberty

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #11 on: June 02, 2018, 04:28:20 pm »
Quote from: txradioguy on June 02, 2018, 03:11:19 pm
The same experts on Fox News that are estatic anoit 223K jobs being added used to refer to that as enemic when Obama was in office.

They did?
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Offline txradioguy

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #12 on: June 02, 2018, 07:23:46 pm »
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The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

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Offline IsailedawayfromFR

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #13 on: June 02, 2018, 11:43:41 pm »
Quote from: AbaraXas on June 01, 2018, 01:34:10 pm
And workforce participation is still just slightly off all time lows.

https://tradingeconomics.com/united-states/labor-force-participation-rate
we've gone over this before.  Why. Count retirees in this? What value is the number when you do?
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Offline Cyber Liberty

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #14 on: June 03, 2018, 12:42:59 am »
Quote from: txradioguy on June 02, 2018, 07:23:46 pm
Yup.

Ah.  Well, we watch the Fox Business Channel, where those numbers get reported religiously.  I don't recall their swooning over any of Obastard's data.
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Offline txradioguy

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #15 on: June 03, 2018, 02:00:40 am »
Quote from: Cyber Liberty on June 03, 2018, 12:42:59 am
Ah.  Well, we watch the Fox Business Channel, where those numbers get reported religiously.  I don't recall their swooning over any of Obastard's data.

@Cyber Liberty

No no I didn't mean to say they swooned over the numbers back then. What I meant was the numbers they are swooning over now they were very critical of when Obummer was in office.

-5 for clarity on my part.
« Last Edit: June 03, 2018, 02:01:39 am by txradioguy »
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The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

THE ESTABLISHMENT IS THE PROBLEM...NOT THE SOLUTION

Republicans Don't Need A Back Bench...They Need a BACKBONE!

Offline Cyber Liberty

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Re: U.S. adds 223,000 new jobs as unemployment falls to 18-year low in May
« Reply #16 on: June 03, 2018, 02:10:36 am »
Quote from: txradioguy on June 03, 2018, 02:00:40 am
@Cyber Liberty

No no I didn't mean to say they swooned over the numbers back then. What I meant was the numbers they are swooning over now they were very critical of when Obummer was in office.

-5 for clarity on my part.

No, you were clear.  'Twas I misreading.  You're correct...
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For unvaccinated, we are looking at a winter of severe illness and death — if you’re unvaccinated — for themselves, their families, and the hospitals they’ll soon overwhelm. Sloe Joe Biteme 12/16
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