We will see a 4% Unemployment rate again soon?

LTC Private RallyPoint Member — Thu, 02 Jul 2015 10:33:46 -0400

With the latest report that our Unemployment rate down to 5.3% and the lowest rate for 7 years, do you believe it will continue to fall. I personally love the fact that we can now help the underemployed and provide them with new career opportunities. It's great to provide someone with a Career and not a job and hear about how they are finally satisified! What are your thoughts?

http://money.cnn.com/2015/07/02/news/economy/us-jobs-report-june-223000/index.html

Unemployment falls to 5.3% -- lowest in 7 years

The U.S. economy added 223,000 jobs in June and unemployment is now 5.3%.

Response by LTC Private RallyPoint Member made Jul 2 at 2015 10:48 AM

LTC Private RallyPoint Member — Thu, 02 Jul 2015 10:48:43 -0400

I know a lot of folks will highlight the fact that the participation rate is the lowest in 37 years, but let's look at the positive side of everything.

Response by SFC Private RallyPoint Member made Jul 2 at 2015 11:17 AM

SFC Private RallyPoint Member — Thu, 02 Jul 2015 11:17:26 -0400

I think it's a sign we are headed in the right direction, but as a nation we've been fixated on this inflated 'unemployment rate.'

First it doesn't include people not trying to work, people who are grossly underemployed, or who are settling for a part time job while looking for full time employment.

The 'rate' is also a national figure. Rates in California are much different than in New York. even in California, rates in LA are much different than Pasadena. Rates for single mothers or college-educated African Americans or high school drop outs are all different.

It does nothing to show average income or wages in certain industries or areas.

It has become a highly politicized number for media to judge politicians- but it truly archaic- especially when looking at the actual science / formulas used to find the figure.

In any event, it is a sign things in that department are moving in the right direction.

Response by CW2 Private RallyPoint Member made Jul 2 at 2015 12:28 PM

CW2 Private RallyPoint Member — Thu, 02 Jul 2015 12:28:35 -0400

depends on how they run the data, I am pretty sure the 5.3% is fairly bogus

Response by SPC David Hannaman made Sep 18 at 2015 4:52 PM

SPC David Hannaman — Fri, 18 Sep 2015 16:52:00 -0400

I read an article once (it was before 9/11/01 and the housing bubble, so I can't link to it), that put forth the idea that a 0% unemployment rate was unobtainable. It went on to cite that there would always be people that simply choose not to work, even if there are jobs available. Housewives for instance.

I'm a data cruncher by profession. I can cook a terabyte of data into a one page report that will tell you just about anything you want to hear, and I can do it in such a way that it would hold up in court that the math is correct.

Personal observation (and I mentioned this on a different thread)... I got laid off at the height of the recession, and got a new (lower paying job) before my severance ran out... before I'd been there a year a "headhunter" called me out of the blue after seeing my resume online and offered me a job that paid more than I'd ever made before.

I get calls and eMails every couple of weeks offering me a new opportunity.

I have friends who own businesses and can't find reliable help.

Hell, my 17 year old daughter with ZERO work experience got a job.

My 77 year old Dad's hobby turned into a pretty damn good business.

I know a lady that makes better than the national average CLEANING HOUSES... if you made it through basic training you can clean a house.

Give everyone on unemployment benefits a week and then cut them off... I know two people who would be back to work before next Friday.

Response by SSG Robert "Rob" Wentworth made Dec 27 at 2019 2:13 PM

SSG Robert "Rob" Wentworth — Fri, 27 Dec 2019 14:13:45 -0500

I don’t foresee it happening in the next 3-4yrs.

Response by LTC Private RallyPoint Member made Dec 27 at 2019 3:05 PM

LTC Private RallyPoint Member — Fri, 27 Dec 2019 15:05:45 -0500

Not sure how this question jumped to the top but it's amazing how much difference 4 years can make.