Economic Recovery Moving Slow

[ashleyhoward]

If the economy continues to improve at the snail’s pace that it did from April to June, then job seekers are in for a long, hard, haul.

According to the Associated Press, the Commerce Department’s quarterly report on Gross Domestic Product, GDP, shows that consumer spending for the quarter grew only 1.5 percent, and experts believe that consumer confidence will not increase enough in the coming quarters to greatly improve those numbers. At 2 percent annual growth, the economy sees only 90,000 jobs a month, which experts say is far too low to reduce unemployment, and maintain with the growth of the population.

Chief Economic Strategist at BTIG LLC, Dan Greenhaus told the AP, “The main takeaway from today’s report, the specifics aside, is that the U.S. economy is barely growing. It’s no wonder the unemployment rate cannot move lower.”

Between the drought and fear of coming spikes in food prices, the financial issues in Europe, and the budget crisis and worries about the fiscal cliff, economists are not predicting any major changes in consumer confidence and spending throughout the rest of 2012.

Jobs and Economic News Brought To You by http://medicalpros.jobs/

 

[UncleBuck]

cool first post ever. doesn't scream sock puppet or paid poster at all.

 

[cannabineer]

There are more serious issues here, like white bear degradation. Exploitation, I say! cn

 

[canndo]

cool first post ever. doesn't scream sock puppet or paid poster at all.

You can't read between the lines here? The guy is an Obama hater and a birther.

 

[UncleBuck]

You can't read between the lines here? The guy is an Obama hater and a birther.

ashley is a guy?

i demand titty pics. end of story.

 

[ChesusRice]

The ADP National Employment Report July 2012 Report
Employment in the U.S. nonfarm private business sector increased by 163,000 from June to July on a seasonally adjusted basis. The estimated gain from May to June was revised down slightly, from the initial estimate of 176,000 to a revised estimate of 172,000. Employment in the private, service-providing sector expanded 148,000 in July after rising a revised 151,000 in June. The private, goods-producing sector added 15,000 jobs in July. Manufacturing employment rose 6,000 this month, following a revised increase of 9,000 in June.

http://www.adpemploymentreport.com/

NEW YORK (CNNMoney) -- Companies expanded their payrolls more than expected
in July.

Businesses added 163,000 jobs last month, according to payroll-processing
company ADP. Economists surveyed by Briefing.com predicted the figure would come
in at 125,000.

http://money.cnn.com/2012/08/01/news/economy/adp-jobs-report/index.htm

 

[NoDrama]

At this rate we ought to all be on disability by 2025. After all, oBama created 3 million jopbs, but 5 million went on Disability and 23 Million decided to join the food stamp program. This isn't a slow recovery, it is the slow death of an economy.

 

[ChesusRice]

At this rate we ought to all be on disability by 2025. After all, oBama created 3 million jopbs, but 5 million went on Disability and 23 Million decided to join the food stamp program. This isn't a slow recovery, it is the slow death of an economy.

[h=1]10,000 - Baby Boomers Retire[/h]As the year 2011 began on Jan. 1, the oldest members of the Baby Boom generation celebrated their 65th birthday. In fact, on that day, today, and for every day for the next 19 years, 10,000 baby boomers will reach age 65. The aging of this huge cohort of Americans (26% of the total U.S. population are Baby Boomers) will dramatically change the composition of the country. Currently, just 13% of Americans are ages 65 and older. By 2030, when all members of the Baby Boom generation have reached that age, fully 18% of the nation will be at least that age, according to Pew Research Center population projections. But don't tell Baby Boomers that they are old. The typical Boomer believes that old age does not begin until age 72, according to a 2009 Pew Research survey. Also, while about half of all adults say they feel younger than their actual age, fully 61% of Boomers are feeling more spry than their age would imply. In fact, the typical Boomer feels nine years younger than his or her chronological age


http://pewresearch.org/databank/dailynumber/?NumberID=1150

 

[ChesusRice]

At this rate we ought to all be on disability by 2025. After all, oBama created 3 million jopbs, but 5 million went on Disability and 23 Million decided to join the food stamp program. This isn't a slow recovery, it is the slow death of an economy.

[h=1]ADP Employment Report - 176,000 Private Sector Jobs for June 2012[/h]
Submitted by Robert Oak on Thu, 07/05/2012 - 10:33

• ADP
• ADP employment report
• employment
• jobs
• Labor Economics
• payrolls
• private sector

ADP, released their proprietary private payrolls jobs report. This month ADP is reporting a gain of 176,000 private sector jobs in June. May 2012 was revised up by 3,000, from 133,000 to 136,000. In contrast, the BLS reported 82,000 private sector jobs for May 2012. Graphed below are the reported private sector jobs from ADP. This report does not include government, or public jobs. ADP rarely mirrors the BLS report, which is released tomorrow.

 

[NoDrama]

10,000 - Baby Boomers Retire

Yep, thats what it is, 10,000 baby boomers retiring caused 28 million people to go poor. Makes sense.

 

[ChesusRice]

Yep, thats what it is, 10,000 baby boomers retiring caused 28 million people to go poor. Makes sense.

"Today's estimate from ADP, if re-enforced by a similar reading on employment
from the BLS [Bureau of Labor Statistics] on Friday, will alleviate concerns
that the economy has slipped into a downturn," Prakken said.

Small businesses with fewer than 50 employees took the lead in hiring, adding
73,000 positions.

Medium-sized businesses grew payrolls by 67,000, while large companies with
at least 500 workers added 23,000 positions.

Manufacturers added 6,000 positions, while the service sector brought on
148,000 workers last month. Construction employment rose for the second straight
month, adding 5,000 jobs. The financial services sector added 9,000 positions,
the 12th month of gains.

Businesses have restored nearly four million jobs over the past 2.5 years,
according to ADP.

The current pattern of employment gains, averaging a little above 150,000 in
June and July, show that hiring isn't as weak as some say, said Paul Ashworth,
chief U.S. economist for Capital Economics.

"Not great, but just about enough to keep the unemployment rate on a gradual
downward trend," he said.

The ADP report -- which only tracks private-sector employment -- is closely
watched as a harbinger of the government's monthly jobs report. But it isn't
always a good predictor. In June, for example, the Labor Department's report
came in much weaker than the ADP report had many expecting.

 

[NoDrama]

ADP Employment Report - 176,000 Private Sector Jobs for June 2012


Submitted by Robert Oak on Thu, 07/05/2012 - 10:33

• ADP
• ADP employment report
• employment
• jobs
• Labor Economics
• payrolls
• private sector

ADP, released their proprietary private payrolls jobs report. This month ADP is reporting a gain of 176,000 private sector jobs in June. May 2012 was revised up by 3,000, from 133,000 to 136,000. In contrast, the BLS reported 82,000 private sector jobs for May 2012. Graphed below are the reported private sector jobs from ADP. This report does not include government, or public jobs. ADP rarely mirrors the BLS report, which is released tomorrow.

Yeah, gee Dukie that is really interesting and all, but they just use the numbers from the BLS and the BLS just "Guesses" at how many people made a job by using the birth/ death model. There is no actual factual jobs being made, just whatever the BLS decides to add this month. None of them are real though.

 

[NoDrama]

"Today's estimate from ADP, if re-enforced by a similar reading on employment
from the BLS [Bureau of Labor Statistics] on Friday, will alleviate concerns
that the economy has slipped into a downturn," Prakken said.

Small businesses with fewer than 50 employees took the lead in hiring, adding
73,000 positions.

Medium-sized businesses grew payrolls by 67,000, while large companies with
at least 500 workers added 23,000 positions.

Manufacturers added 6,000 positions, while the service sector brought on
148,000 workers last month. Construction employment rose for the second straight
month, adding 5,000 jobs. The financial services sector added 9,000 positions,
the 12th month of gains.

Businesses have restored nearly four million jobs over the past 2.5 years,
according to ADP.

The current pattern of employment gains, averaging a little above 150,000 in
June and July, show that hiring isn't as weak as some say, said Paul Ashworth,
chief U.S. economist for Capital Economics.

"Not great, but just about enough to keep the unemployment rate on a gradual
downward trend," he said.

The ADP report -- which only tracks private-sector employment -- is closely
watched as a harbinger of the government's monthly jobs report. But it isn't
always a good predictor. In June, for example, the Labor Department's report
came in much weaker than the ADP report had many expecting.

I emphasized some parts

 

[ChesusRice]

I emphasized some parts

Never going to be good news as long as Obama is president
is there?

 

[beenthere]

Never going to be good news as long as Obama is president
is there?

Not unless he gets rid of his failed Keynesian economic policies

Net job gains and losses by presidency.


1. Bill Clinton +22,744,000 +8.8 percent of population
2. Ronald Reagan + 16,102,000 +7.0 percent of population
3. Lyndon B. Johnson + 12,183,000 +6.3 percent of population
4. Jimmy Carter + 10,339,000 +4.7 percent of population
5. Richard Nixon + 9,181,000 +4.5 percent of population
6. Harry Truman + 8,083,000 +5.8 percent of population
7. John F. Kennedy + 3,538,000 +1.9 percent of population
8. Dwight Eisenhower + 3,572,000 +2.2 percent of population
9. George H.W. Bush + 2,592,000 +1.1 percent of population
10. Gerald Ford + 2,073,000 +1.0 percent of population
11. George W. Bush + 1,094,000 +0.4 percent of population
12. Barack Obama - 1,663,000 -0.5 percent of population

 

[ChesusRice]

One of the big questions in the economy right now is why job growth has been stronger than economic growth suggests it should be. There are several theories, which Peter Coy and I describe in our recent Bloomberg Businessweek article on President Barack Obama’s stewardship of the economy. The best scenario for the White House (and the country) is that the most popular measure of economic growth—gross domestic product—is actually understating things, and we’re in better shape than we realize.
That theory got a boost yesterday, when the Bureau of Economic Analysis released its revision of an alternative measure—gross domestic income—that indicated the economy grew at a robust pace of 4.4 percent in the fourth quarter last year. That’s much faster than current GDP forecasts, which range from about 2 percent to 2.5 percent. Why the difference? GDP and GDI rely on different factors, so they can vary in the short term. But ultimately they should reflect the same thing. As Bloomberg’s Alex Tanzi explains:
For a given quarter, the estimates of GDP and GDI may differ for a variety of reasons, including the incorporation of largely independent source data. However, over longer time spans, the estimates of GDP and GDI tend to follow similar patterns of change.
There’s disagreement among economists about which is the better measure of growth. But as Morgan Housel of the Motley Fool points out, there’s some strong evidence to suggest GDI provides a better gauge of real-time economic growth. If so, the stronger jobs numbers may be warranted—and may continue, despite worries by Federal Reserve Chairman Ben Bernanke and others that they won’t.
“The numbers [GDP and GDI] do tend to narrow as the data is revised,” says Brent Moulton, associate director for National Economic Accounts at the Bureau of Economic Analysis, “though not as much as perhaps we’d like. One study does say GDP tends to revise toward GDI, and that would suggest that the GDI number is certainly worth paying attention to.”
Further evidence of strengthening came in this morning’s consumer spending number for February, which grew 0.8 percent and outpaced the estimates of most economists. Of course, nothing is certain. But any evidence that the recovery is gaining speed is welcome news.

http://www.businessweek.com/articles/2012-03-30/the-economic-recovery-is-it-stronger-than-we-think

 

[canndo]

Not unless he gets rid of his failed Keynesian economic policies

Net job gains and losses by presidency.


1. Bill Clinton +22,744,000 +8.8 percent of population
2. Ronald Reagan + 16,102,000 +7.0 percent of population
3. Lyndon B. Johnson + 12,183,000 +6.3 percent of population
4. Jimmy Carter + 10,339,000 +4.7 percent of population
5. Richard Nixon + 9,181,000 +4.5 percent of population
6. Harry Truman + 8,083,000 +5.8 percent of population
7. John F. Kennedy + 3,538,000 +1.9 percent of population
8. Dwight Eisenhower + 3,572,000 +2.2 percent of population
9. George H.W. Bush + 2,592,000 +1.1 percent of population
10. Gerald Ford + 2,073,000 +1.0 percent of population
11. George W. Bush + 1,094,000 +0.4 percent of population
12. Barack Obama - 1,663,000 -0.5 percent of population

I can't figure it out. The right claims that government should stay out of business but they expect a president to create jobs - not government jobs mind you. I notice that Clinton "created" the most jobs - how nice for him, how exactly did he do that?

And are we counting job losses or gains from the day the president took office? or maybe a year later - which would put Bush at a disadvntage. Oh and another thing, if you really want to use those numbers - note that Dems created more jobs overall than Republicans.

 

[ChesusRice]

Yeah, gee Dukie that is really interesting and all, but they just use the numbers from the BLS and the BLS just "Guesses" at how many people made a job by using the birth/ death model. There is no actual factual jobs being made, just whatever the BLS decides to add this month. None of them are real though.

The
"no it's not" argument
Doesnt have the traction it once had
Got anything substansive to retort with?

 

[ginwilly]

I can't figure it out. The right claims that government should stay out of business but they expect a president to create jobs - not government jobs mind you. I notice that Clinton "created" the most jobs - how nice for him, how exactly did he do that?

And are we counting job losses or gains from the day the president took office? or maybe a year later - which would put Bush at a disadvntage. Oh and another thing, if you really want to use those numbers - note that Dems created more jobs overall than Republicans.

Big difference between jobs created during a presidency and jobs created by a presidency.

I guess Bush 1 deserves all the credit for the tech jobs created during Clinton's presidency.

 

[canndo]

Big difference between jobs created during a presidency and jobs created by a presidency.

I guess Bush 1 deserves all the credit for the tech jobs created during Clinton's presidency.

Over the last year, of his term, perhaps he does.