215,000 new jobs in November; let the good times roll again!

[DanS]

Originally posted by Colon
Cut the crap Dan. I've flamed the living daylight out of people for less.

OK, OK. KH made me do it.

[Sava]

Food services - which includes restaurants and bars - added 39,000 jobs in November.

LET THE GOOD TIMES ROLL

WOO HOOOO!!! COOKS, BUS BOYS, AND WAITERS/WAITRESSES

[DanS]

Originally posted by Colon
Funny thing, I had just been checking the latest flow of funds release today, and I came to discover net financial investment (gained assets minus gained debts) by households had been an annualised minus $688 billion during Q2 '05. Good thing corporate America has been holding back on its capital expenditures (only just reaching back the nominal level of 2000) otherwise US' current account deficit wouldn't have been this "modest" right now.

But hey, who cares about this, and an almost inverted yield curve, when you got a lagging indicator like employment telling us all is fine?

Here's one explanation...

Why would a company do capital investments or hire, when the profits are rolling in at historically high levels without the investment? Why would a householder save when he is earning paltry sums on the investments that he has? Both are doing things that make sense to them.

Once the profits don't flow so freely, companies will do more capital investments and hire more robustly to try to drive top-line growth. (I note that while free cash flow increased in the third quarter, profits did not.) Once interest rates rise, the householder will consume less and invest more.

[mrmitchell]

Data for November isn't available yet.

In October, Arkansas posted ~11000 new jobs. The unemployment rate is down to 4.9%.

[Drake Tungsten]

Lot of good economic news recently.

[Drake Tungsten]

And we're at ten consecutive quarters of 3% or greater GDP growth.

[Drake Tungsten]

And here's some good reasons why we need more people like Dan talking about the good economic news.

This onslaught of negative thinking is clearly having an impact. During the 2004 presidential campaign, when attacks on the economy were in full force, 36% of Americans thought we were in recession. One year later, even though unemployment has fallen from 5.5% to 5%, and real GDP has expanded by 3.7%, the number who think a recession is underway has climbed to 43%.

After 10 quarters of 3%-plus GDP growth with low inflation and 5% unemployment, “A total of 35% of Americans rate the national economy as excellent, very good, or good and 63% rate it as bad, very bad, or terrible.”

[mrmitchell]

I can't blame them. I would call the Camden economy terrible. Where are all these supposed new jobs?

All the numbers may well be true, but until people notice a change in their personal lives, the opinion polls are going to reveal negativity.

[asleepathewheel]

Gas was down to 1.86 here this week

[Seeker]

What's the USA median household income like this year?

[Dinner]

Originally posted by mrmitchell
Data for November isn't available yet.

In October, Arkansas posted ~11000 new jobs. The unemployment rate is down to 4.9%.

Good news but did income growth out pace inflation? Did household net worth outpace the growth in net debts? It seems like we have a lot of jobs but on average people are making slightly less.

[Odin]

Many of those new jobs are probably temprary jobs for the Christmas shopping season.

The morons who think the economy is doing so great only seam to look at employment numbers and CORPOATE PROFITS, not the economic situation of Joe Smoe having to work 3 McJobs to make ends meet. because his high-paying job got sent to China. Why don't the conservatives look at the situation of the average Joe? Because thier f*cked up "whats good for GM is good for America" BS worldview that says only corporate profits matter. The middle class is dissapearing and the conservatives in power don't give a sh*t as long as they get to drive thier Hummers.

[Kuciwalker]

Many of those new jobs are probably temprary jobs for the Christmas shopping season.

Except IIRC the figures DanS posts are always corrected for seasonal variations.

The morons who think the economy is doing so great only seam to look at employment numbers and CORPOATE PROFITS, not the economic situation of Joe Smoe having to work 3 McJobs to make ends meet. because his high-paying job got sent to China.

Whereas you smart people can't read the ****ing thread. Go read some of DanS's and Drake's posts again...

[Odin]

Drake, maybe there is "negitive thinking" because the economic condition of Joe Shoe doesn't match "the official possition."

[Odin]

Oh, and GDP growth doesn't mean jack **** if the money it doesn't get into the hands of average workers, which it isn't. The fruits of economic growth is all going to the rich, while the middle class suffocates.