Trump has delivered the lowest avg unemployment rate in recorded history

Discussion in 'Political Opinions & Beliefs' started by mitchscove, Jan 20, 2020.

  1. mitchscove

    mitchscove Well-Known Member Donor

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    President Trump starts off 2020 having presided over a lower average unemployment rate than any president at a comparable point in office in recorded history.

    On Friday, the Bureau of Labor Statistics reported that the unemployment rate held steady at a historically low 3.5% in December. Since February 2017, Trump's first full month in office, the monthly unemployment rate has averaged 3.9%. No prior president has averaged less than 4% over the first 35 months of his presidency. The closest was Dwight Eisenhower, when the rate averaged 4.3% between February 1953 and December 1955.

    Modern unemployment statistics did not start being kept until 1948, after Harry Truman's first 35 months in office, so this analysis only starts with Eisenhower. Nonetheless, it does point to the unprecedented nature of this consistently low level of unemployment.

    [​IMG]
    https://www.washingtonexaminer.com/...oyment-rate-is-the-lowest-in-recorded-history
     
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  2. 61falcon

    61falcon Well-Known Member

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    The Czech Republic right now has lower unemployment at 2.2% than we do!!!!!So does Germany at 3.1% and Japan at 2.4%?????
     
  3. drluggit

    drluggit Well-Known Member

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    Fewer illegal or refugees in the count to compare to the US... So, even at our historic high immigration rates, the US still outperforms our historic benchmarks..
     
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  4. jay runner

    jay runner Well-Known Member

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    My pocketbook. I decide. Mega MAGA!
     
    Last edited: Jan 20, 2020
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  5. stone6

    stone6 Well-Known Member Donor

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    Question: How are the unemployed counted? And, is there any statistical comparison between "unemployed," "employed," and "total work force?"
     
  6. OldGuy?wise

    OldGuy?wise Active Member Past Donor

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    Be sure to check what is defined as "employed". I think that 1 hour per week is "employment".
    There is a different rating that I think is called "effective employment". The last time I saw it, it had hardly changed, which would suggest that "employed" does not always mean decent income.
     
  7. 61falcon

    61falcon Well-Known Member

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    It was 4.7 % the day he took over from Obama on January 20,2017 and declining,so it has dropped 1.2% since Dirty Donald took office???
     
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  8. 61falcon

    61falcon Well-Known Member

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    He told 16,241 lies in his first 3 years in office!!!!
     
  9. jay runner

    jay runner Well-Known Member

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    IMF says the outlook for the world economy remains sluggish.

    ONLY TRUMP KNOWS HOW TO DO IT!

    MAGA!
     
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  10. 61falcon

    61falcon Well-Known Member

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    He knows how to lie like no other!!!
     
  11. kriman

    kriman Well-Known Member Donor

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    All the employment rate numbers are based on a survey. The Labor Force Participation rate dropped from 65.7% for 62.4% while Obama was in office. It is slowly going back up. It is now at 63.2%, the highest it has been since Feb 2014.

    The worse condition is to have a high unemployment rate and a low Labor Force Participation Rate. The best condition is to have a low unemployment rate and a high labor participation rate. That means more people are either working or trying to find work and more of those looking for work are finding work. It is trending towards the best situation. This is very good.
     
  12. stone6

    stone6 Well-Known Member Donor

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    OK...but how we count who is employed and who isn't has changed over the years, no? A number of people have dropped out of the "organized work force" altogether and are "self-employed." The unemployment rate for this group (the "shadow work force) is much higher...over 20%. And, there is a lesser difference between the U3 and U6 statistics, with the U3 figure the most commonly used, with the U6 figure generally several percentage points higher.
    Nor do the unemployment statistics say much about wages and salaries, which I would think are the real drivers in a consumer-oriented economy. Median incomes are up, but only by around 0.5% and 1% higher, after inflation. And total GDP growth is good, but not particularly "outstanding."
    Note...that I think these problems are NOT always partisan in nature and that both parties must reevaluate their economic programs to compensate for the forces driving the necessity for a reevaluation of the value of labor, namely technology and glob alienation.
     
  13. XXJefferson#51

    XXJefferson#51 Well-Known Member

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    Trump has done a great job as our President. I’m proud of him.
     
  14. Ddyad

    Ddyad Well-Known Member

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    That does it! Let's impeach the SOB! ;-)
     
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  15. kriman

    kriman Well-Known Member Donor

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    A lot more people are working who want to work. I don't care how you try to twist it, that is a good thing. Generally, they are starting to find employment more beneficial than collecting unemployment or just sponging off someone else.
     
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  16. stone6

    stone6 Well-Known Member Donor

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    I agree that it is more beneficial, but - in theory - the low unemployment rate should spur faster and higher wage growth. Why do you think that isn't happening?
     
    Last edited: Jan 20, 2020
  17. mitchscove

    mitchscove Well-Known Member Donor

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    Only because of Affirmative Action monetary policy. 0% interest rate until 12/2015. Trump increased the Workforce Participation Rate from 62.8 to 63.2.
     
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  18. kriman

    kriman Well-Known Member Donor

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    It is my understanding that in order to get employees in a tightening labor market, they are paying more. At least my local hardware indicated that.

    Democrats really hate this good economy.
     
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  19. FatBack

    FatBack Well-Known Member

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    It's absolutely astounding to see people so bitter that the USA is doing well.
     
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  20. Hoosier8

    Hoosier8 Well-Known Member Past Donor

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    That appears to be a fungible number. Of course the hysterical left labels his ribbing and jokes as lies too.
     
    Last edited: Jan 20, 2020
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  21. MolonLabe2009

    MolonLabe2009 Banned

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    Based on what methodologies?

    For example, According to International Labor Organization (ILO), Cambodia has a very low unemployment rate of only 0.3%...
    https://en.wikipedia.org/wiki/List_of_countries_by_unemployment_rate#cite_note-18

    But the reality is this...
    Using the same Wikipedia link as above, the United States statistics cited uses the BLS methodology, not ILO methodology.

    So, until there is a common methodology used for each country, then comparing country statistics is useless..
     
    Last edited: Jan 20, 2020
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  22. stone6

    stone6 Well-Known Member Donor

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    Why should Democrats hate a good economy? I think most would favor a more equitable good economy. Your experience is anecdotal. My point was that statistics show that increases in wage and salaries is only about 1% per year after inflation and that GDP is not as much as promised.
     
  23. stone6

    stone6 Well-Known Member Donor

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    I think their point is that NOT everyone is doing well. The GDP growth rate in China is more than twice ours. They run huge trade surpluses and there are more billionaires in China today than in the USA. China, relatively speaking, is doing very well. But, are their people?
     
  24. MolonLabe2009

    MolonLabe2009 Banned

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    China doesn't have an EPA.
     
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  25. kriman

    kriman Well-Known Member Donor

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    Because they can blame Trump for it.

    Bringing on new people is likely to lower the wages and salaries. For example, you have a hardware with around twenty five people. I do not know the actual wages, but this is the way it was explained. The average worker has been there over five years and they are earning an average of $20 per hour. Normally they bring on a new employee at $12 per hour. However, they decide to hire two new employees at $15 per hour. Since the new employee is still making less than the employees who have been there for some time, it lowers the average wage. However, the new employee is still making significantly more more than he would have made at the previous wages.
     

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