Unemployment Rate matches lowest point in half a century

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7_Sorrows said:
i remember high unemployment when Obama was president.
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I do too…but he came into office after the most significant downturn in the economy since the great depression…and the UE rates are the lowest in over 7 years, and Trump has not been president for a year and a half of thst time?..sometimes the logic of people defies reality in order to advance the otherwise lackluster contributions of their heroes…SAD!
 
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Theo, it’s interesting, though.

Eight years of the job growth was under a Democrat President. That was the point of thread. Is this still Obama’s recovery? Would we have recovered anyway? Has an unneeded tax break continued the recovery but increased our debt and hurt our long term prospects?
 
PaulinVA said:
Eight years of the job growth was under a Democrat President. That was the point of thread. Is this still Obama’s recovery? Would we have recovered anyway? Has an unneeded tax break continued the recovery but increased our debt and hurt our long term prospects?
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I think the big problem is that most people seem to interpret economic data according to their political biases. When the unemployment rate was falling under Obama, people would complain about not counting people who were too lazy to look for work. Now, those people are ignored.
 
stinkcat_14 said:
I think the big problem is that most people seem to interpret economic data according to their political biases. When the unemployment rate was falling under Obama, people would complain about not counting people who were too lazy to look for work. Now, those people are ignored.
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Well, we’ll never know if the recovery would have run out of steam if the Republican tax breaks for rich people hadn’t been enacted.

But, you are right, people interpret data like this in a way that confirms their bias.
 
It seems like things are getting more complicated by talks of sanctions, tariffs, and increasing micromanagement of the economy. It will indeed be difficult to measure the effect of the tax bill alone in one year, much less ten.
 
PaulinVA said:
Theo, it’s interesting, though.

Eight years of the job growth was under a Democrat President. That was the point of thread. Is this still Obama’s recovery? Would we have recovered anyway? Has an unneeded tax break continued the recovery but increased our debt and hurt our long term prospects?
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job growth under 8 years of Obama?! hardly! we had the great recession under Obama. things weren’t beginning to turn around until around 2015!
 
TheLittleLady said:
This does not take into account those who are underemployed (college educated or decades of professional experience who are now working part time at Dollar General to try to stay alive) or those who have simply given up and moved in with someone who will support them.
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No. The labor participate rate has also improved.
 
PaulinVA said:
Eight years of the job growth was under a Democrat President. That was the point of thread. Is this still Obama’s recovery? Would we have recovered anyway? Has an unneeded tax break continued the recovery but increased our debt and hurt our long term prospects?
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They can measure the change in business investment pre and post tax cut, so you can see correlation if not causation.

If GDP growth under obama had been average, or above average for post recession recoveries, I think Hillary would have won. Instead Obama’s growth had a positive slope but was below average, nothing to brag about (except it being positive)
 
Hillary had no plans except for infrastructure but that would have gone nowhere, although Puerto Rico might have bean better off IMO.
 
The stock market turnaround was evident in Mar 09. The stimulus package probably had a lot to do with, though it could be argued that Bush’s TARP program had done a little to extend credit.
 
Theo520 said:
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PaulinVA:
Eight years of the job growth was under a Democrat President. That was the point of thread. Is this still Obama’s recovery? Would we have recovered anyway? Has an unneeded tax break continued the recovery but increased our debt and hurt our long term prospects?
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If GDP growth under obama had been average, or above average for post recession recoveries, I think Hillary would have won. Instead Obama’s growth had a positive slope but was below average, nothing to brag about (except it being positive)
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You are trying to understand the election based on economic reasons.

I think it was hilary’s negatives versus trump’s negatives. It was a big nationlist/populist movement as well.
 
7_sorrows, despite your prodigious use of exclamation points, your post is not accurate. Just look upthread at the graph of the steadily-declining unemployment rate starting in 2010
 
PaulinVA said:
You are trying to understand the election based on economic reasons.

I think it was hilary’s negatives versus trump’s negatives. It was a big nationlist/populist movement as well.
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As James Carville said “(it’s) the economy, stupid”. While other things do matter, the economy is always the elephant in the middle of the room which each side is either trying to take credit for, or blame the other side.

FORBES: It’s Still The Economy, Stupid
 
ProVobis said:
The stock market turnaround was evident in Mar 09. The stimulus package probably had a lot to do with, though it could be argued that Bush’s TARP program had done a little to extend credit.
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Almost certainly the stock market rebound was initially due to several factors:
a. TARP 1 b. gave banks fast track approval of takeovers of failing banks.
b. The Fed’s guarantee of overnight deposits between banks. Banks’ lack of trust in the solvency of other banks threatened the whole financial system, and this was essential to guarantee liquidity. It’s importance cannot be overestimated.
c. Relaxation of the “mark to market” rule. This allowed banks to attribute value to securities even when there was a temporary interruption of the market.
d. Eventual realization that the mortgage-backed securities were actually sound. The lack of that knowledge, combined with “mark to market” threatened to make nearly every bank in the country “technically insolvent” even though they were solvent.

Other than TARP and second thoughts, the above was all Fed action.

Even so, it took until 2014 for the market to return to what it had been in 2007. That’s a slooooooooow recovery; unprecedented, really.
 
The unemployment rate is not attributable to Obama, either positively or negatively. One notes that the unemployment rate here was almost exactly paralleled by that of Germany and Britain. The recession was a nearly world-wide phenomenon, initially beginning in Europe. It was perhaps scarier in the U.S. for a short time because of the interaction of the uncertainty concerning mortgage backed securities and the “mark to market” rule, which really did freeze the interbank flow of money.
 
Ridgerunner said:
In itself, that’s not necessarily an “assault”. Lots of people do that or “hug” you. I don’t like either one, and so each such event could technically be regarded as an “assault”. But people don’t generally think of it that way. Good thing I don’t live in Russia or France.
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Yes I agree, I expect that virtually every male born before 1980 who has kissed a girl, has done so at least once without first asking for consent. But that is the only potential crime that Trump admitted to in the infamous recording. More of a faux pas by today’s consent expectations than a crime.
 
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Well , if Trump is so good, why didn’t he run in 2008? He looked into running in 1999 when the economy wasn’t that bad.

I understand he was one of the big losers in 2008. He wouldn’t have had much to run on then. But who knows why he really sat it out.
 
I believe he bragged about making advances on a married woman on that tape. That’s still a no-no in our society.
 
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