Unemployment at 5.1%

Well, there you go. The sky is falling.

Or not.

The market is poised to open above fair value. Read more about the job report here.

Comments

  1. El gato says:

    The average unemployment rate 1990-99 was 5.7%. Note that was primarily the Clinton era, so the fact that the media didn’t report truthfully on employment during the Bush era, and is now being disingenuous about a still low rate shows one that it is foolish to listen to the media. When I drive by Best Buy on Saturday or Sunday and can find a parking space I’ll figure we are indeed entering tougher times!

  2. El gato says:

    Odd sentence structure and spelling for a college boy.

  3. El gato says:

    “I’d’ve” used an apostrophe in “cant” even though you challenged my MATC associates degrees!

  4. Cheri M. says:

    I’d’ve given you both honorary BS degrees in Apostrophology (so glad it has a name now).

    Regarding biology, I’m with Cindy in thinking of the lung ailments made worse by leaf burning.
    How long’s it been since we voted on that… 12 years? Or did I miss one? Time to vote again!

    Back on topic – unemployment rates. Aren’t they reporting new claims? I believe this does not take into account those individuals for whom unemployment checks have ceased. Some of these individuals remain unemployed or, in many cases, underemployed.

    I do think the ecomony is down… my daughter sees more students opting not to bring things in for special days at school (cultural food day, etc).

    Our family prefers a simple life (part of how we live our faith) and we place a priority on our daughter’s educational experiences so we’ve not had significant changes. It may easier for us than some families financially because we have only one child.

  5. The economy can be down without it being “the end of the world”. When Sir Edmund Hillary started his descent from Mt. Everest and had descended 10 ft. the press didn’t report “Hillary at the bottom”.
    I think we can use a bit of a downturn to get back some sensibility among people regarding financial matters. We are so materialistic, don’t save, and have been on a spending spree for far too long. Credit debt is at an all-time high.

  6. Things are worse some places. When my mother moved in with us two years ago, we sold her home in the Detroit area (about 30 miles north of there.) The buyers lost it for what ever reason, and it was resold at less than two thirds of what they had paid. That’s a steep drop in an area that wasn’t experiencing an ‘exuberant’ market before hand.

  7. Cheri M. says:

    Hmmm! Proof positive, kathryn, that those provincial exurban areas north of Detroit should’ve upgraded their schools!
    “If you build it, they will come.”

    All humor aside, I’m curious to see what the Brookfield real estate market will do this year.

  8. Somewhat true. The schools were not good–I was lucky to escape to a private school toward the end. Even so, there were a few great teachers that really stand out all these years later.

  9. I purge my book shelves from time to time, and seem to have evicted Mr. Thoreau some time ago. So, I am well behind Dan. I found a lovely copy at Half Price Books just this morning.

    The little bit that I’ve read so far is more enjoyable than I recall; must have been too young the first time. I am surprised how much of it I remember…”lives of quiet desperation.” He reminds me of Ecclesiastes and Camus also.

  10. I disagree with you so much I wrote a blog about it. Domo arigato, mr. el gato! I think a better way of judging this is by unemployment. Check it out here:

    http://cntl.wordpress.com/2008/04/04/who-to-trust-americans-or-pundits/

  11. And sorry about the pingback!

  12. El gato says:

    And how the libs avoid the fact that unemployment is much lower than Clinton’s terms!

  13. And it’s heading much higher! Where is your source on that, kitty kat?

    A press release from the white house in 2000:

    http://clinton4.nara.gov/WH/New/html/20000112_1.html

    “In 1992, when Bill Clinton was elected President, the American economy was barely creating jobs, wages were stagnant, and the unemployment rate was 7.5 percent.”

    “The Unemployment Rate Was 4.2 Percent in 1999 — the Lowest Since 1969.”

    “For women the unemployment rate was 4.1 percent — the lowest since 1953.”

    I don’t see anything close to the 5.7% figure, unless you are asserting that the white house lied in their press releases?

    Bringing down the unemployment rate by 4% is a pretty sizable change. Right now, thanks to the Bush genius of economic gangsterism, we’re headed back up to 7.5%.

    I’d really enjoy it if you would kindly give us your source…and here’s to hoping it’s not another geocities sludge-slinger website.

  14. And if reading ain’t your forte i found a nice graph to feast those feline eyes on:

    http://angrybear.blogspot.com/uploaded_images/a2-724751.JPG

  15. El gato says:

    Because you’re such a smart-alecky youngster who knows it all, I’ll let you find it for yourself. I’ll give you a clue…it’s online! I can’t help but wonder how old you will be when you discover you don’t know it all.

  16. Dave Frank says:

    You can almost picture El Gato sitting on his front porch screaming at Shawn, “GET OFF MY LAWN!!!!”

  17. Sounds like a mediocre round-about way of saying, “You’re right and I don’t want to embarass myself with my false stats.”

    This is hilarious–and I know for a fact it’s not just me. How many times do you have to use the geezer defense before you realize that the facts always win–no matter how many Hoverounds and you’ve got in your garage, and Doyleys on the coffee table.

  18. El gato says:

    What is a “Doyley”? The fact is that Shawn takes umbrage when he assumes I’m calling him a liberal even though he has admitted he is one. I would be proud to have someone call me a conservative and it’s clear that I am one. I will always hold the libs feet to the fire when they ignore the truth.

    The truth is that 5.1% is not high by historical standards. I didn’t say it wouldn’t get worse and I didn’t say some people aren’t experiencing pain. If there is a serious slowdown the libs will try to make it the fault of Bush, but the reality is that it is the fault of the Congress. Neither party can be excused from their terrible policies. The problem in the economy beyond housing is that prices and taxes are going up at alarming rates due to government policies. The ethanol joke is driving food prices up dramatically. The prices of oil and commodities are going up due to world wide demand, ergo improving economies which is just what the libs claim to want, so why complain?

    Civil debate would be okay, but the cocky know-it-all attitude of school boys is more than I can accept. They have opinion and brainwashing, while I have experience and wisdom. I’m trying not to use the smart-aleck remarks that Shawn uses to try to prove he’s not what he proves to be by his immature remarks.

  19. Shawn, he’s right. I found it from the BLS where I’m sure you knew you’d be proved wrong. Put in years 1992 to 2008 and you can see the whole chart yourself. While Clinton left the office with unemployment lower than today’s the majority of his term showed rates higher than 5.1%.

    Because you appear to need a babysitter on this issue, I’ll give you the link.

    And it’s doilies, Mr. Smartypants.

  20. Well said El gato

  21. El gato says:

    Thank you Cindy. I have to admit that I couldn’t find the original site that I was referring to. I’ve excepted a bit from this website that make a nice comparison. I was only trying to point out that the press is trying to scare us with numbers that are historically not bad.

    http://www.humanevents.com/article.php?id=20227

    “In terms of equivalent starting points, it makes sense to compare 1993-1996 with 2003-2006 — two cyclically similar periods of equal duration.

    Growth of real gross domestic product (GDP) in those periods was identical, at 3.23 percent a year. That’s a tie. Nearly all other measures favor the past four years over Clinton’s first term. Unemployment was 5.3 percent from 2003 to 2006, but 6 percent from 1993 to 1996. Sperling mentioned business investment to avoid mentioning housing investment. Yet business fixed investment was 10.9 percent of GDP from 2003 to 2006, compared with 9.2 percent of GDP from 1993 to 1996.”

  22. I am not afraid of being called a Liberal, in fact the opposite. I take pride in the movement I belong to, and I take umbrage at those who try to falsify my stance.

    Cindy, Reagan had the record high 13% while he was in office, so it would bring up his AVERAGE as well. Clinton brought the unemployment rate down from a high of 7.5% to under 4% (as I said in my last comment, i don’t know if you saw it.)

    The link didn’t work, but I found it myself.

    The difference is trendlines. Clinton trended unemployment DOWN while Bush trends it UP and this “recession” we’re going into it trending UP unemployment.

  23. In fact, unemployment was 4.2% when Clinton left office and Bush came in.

    How high will it get when George leaves? Of course it’s easy to compare “average unemployment rates” over 8 years, but what is more telling is the trend. Reagan brought it down, so did Clinton. Bush hasn’t done quite as well…

    That’s my point and it’s indisputable. From 7.5% to 4.2% is impressive (Clinton’s numbers) in my opinion.

  24. As for the “Mr. Smarty-pants” Smart-alec” it was all a reflection of yuor behavior, El Gato. Some can dish but can’t deal. Such is life.

  25. It’s my opinion that you’ve blown it on this one, Shawn. More than 50% of Clinton’s term was higher, but you want to spin it. See the most current topic and get some perspective little one.

    1997 to 2000 was the dot com run up. Presidents actually have very little to do with the economy.

    Personally, I wish they had even less!

  26. Cheri M. says:

    So how many of you believe we should spend our way out of the slump?

    Not me, I rather think we spent our way into it. The economy grew and grew, because people changed their values to rampant consumerism and instant gratification. Stores expanded their hours to include Sundays, and credit has been extended (and over-extended) everywhere. I think it’s time to have backyard veggie gardens like the old time Victory gardens during WWII.

    I think if we begin to ease a bit self-sufficiency into our lives, we’ll a benefit.

    Yes, I think I’ll plan a new patch of garden. How ’bout you?

  27. Agreed.

Trackbacks

  1. […] and other conservatives try to argue that we’re pretty as peaches, the trend is clear. Cindy Kilkenny argues that unemployment really isn’t that high. But the article she links to says nearly the […]