Employment Report May 2, 2014

[mimo_100]

According to the Bureau of Labor Statistics the U.S. economy added 288,000 jobs in April, driving the unemployment rate down to 6.3%. Analysts had been expecting 218,000 jobs and 6.6% unemployment. Below the headline both average wages earned and work-week duration were unchanged, but the participation rate fell to 62.8%; the total civilian labor force fell by 806,000. It’s the lowest participation since 1978, highlighting concerns that the economic recovery is largely a statistical game of smoke and mirrors.

http://www.stocktradingtogo.com/2014/05/02/sttg-market-recap-may-2-2014/

[Phoenix7]

According to the Bureau of Labor Statistics the U.S. economy added 288,000 jobs in April, driving the unemployment rate down to 6.3%. Analysts had been expecting 218,000 jobs and 6.6% unemployment. Below the headline both average wages earned and work-week duration were unchanged, but the participation rate fell to 62.8%; the total civilian labor force fell by 806,000. It’s the lowest participation since 1978, highlighting concerns that the economic recovery is largely a statistical game of smoke and mirrors.


http://www.stocktradingtogo.com/2014...ap-may-2-2014/

GOOD LUCK to all college graduates this year ......."THEY WILL NEED IT"!
Many of the created jobs pay less than $14 per hour! WTF can you do with that? I am sure many will be living home with parents in the basement thinking about those "HUGE" student loans they have to pay off!

[billyjoe]

GOOD LUCK to all college graduates this year ......."THEY WILL NEED IT"!
Many of the created jobs pay less than $14 per hour! WTF can you do with that? I am sure many will be living home with parents in the basement thinking about those "HUGE" student loans they have to pay off!

Phoenix, For 50 years the local GM and Ford plants in my town supported thousands of families with a decent wage. I calcuated that they paid nearly 3.5 times the minimum wage I made as a high school and college kid. The plants changed hands several times often still actually being GM and Ford subsidiaries. Each time they lowered the wages and usually the number of workers. I'm told that $14/hour is the magic number there now. Not enough to pay 25K or more for one of their new cars, not enough to buy a home, Sometimes not enough to pay the rent, especially if a person has a couple young kids. That converts to 1.79 X minimum wage in Ohio. Just looked at an historical inflation calculator. When I graduated from college in 1973 the average starting pay for a new graduate (exclude doctors, lawyers, engineers) was around $7500. That is equivalent to $40,000 in 2014 dollars. A $14/hour job 52 weeks per year pays $29,120. It's not looking good for the young people.

---------------------billy

[Phoenix7]

Phoenix, For 50 years the local GM and Ford plants in my town supported thousands of families with a decent wage. I calcuated that they paid nearly 3.5 times the minimum wage I made as a high school and college kid. The plants changed hands several times often still actually being GM and Ford subsidiaries. Each time they lowered the wages and usually the number of workers. I'm told that $14/hour is the magic number there now. Not enough to pay 25K or more for one of their new cars, not enough to buy a home, Sometimes not enough to pay the rent, especially if a person has a couple young kids. That converts to 1.79 X minimum wage in Ohio. Just looked at an historical inflation calculator. When I graduated from college in 1973 the average starting pay for a new graduate (exclude doctors, lawyers, engineers) was around $7500. That is equivalent to $40,000 in 2014 dollars. A $14/hour job 52 weeks per year pays $29,120. It's not looking good for the young people.

---------------------billy

Billie unfortunately what you say is true. There used to be a Ford plant in Mahwah NJ which paid worker a wage they could raise a family with and buy a small house.....that is long gone as the plant has closed.
If I were president I would immediately pass the Keystone pipeline which would provide thousands of jobs. I would grant fracking rights to those who could demonstrate they have all safety standards in place. I would begin to sell all excess oil and gas to countries who would buy it with cold hard cash. I would begin a complete infrastructure project which would provide a plethora of jobs.
Immediately pull out all troops from Afghanistan and Iraq , giving them first crack at the newly created infrastructure jobs.
I would rebuild our military so that we would once again regain our superiority throughout the world.
I would establish a UN commission that would have the power to unite and crush any revolt thereby eliminating terrorism anywhere in the world. The UN as it now stands is about as useful as tits on a bull!
Once again we need to act like leaders ,and not bow down all around the world.