Yes, it's still not where we need it, but it's much better than the alternative and did exceed expectations (before revisions of course).

Quote:Nonfarm payrolls grew more than expected in September as the unemployment rate fell to its lowest level since July 2008.

According to the latest employment report from the BLS, nonfarm payrolls grew by 248,000 in September.

The unemployment rate also fell to 5.9% from 6.1%, the first time the unemployment rate has been below 6% in more than six years.

Expectations were for a gain of 215,000 with the unemployment rate expected to remain at 6.1%.

JOBS REPORT BEATS EXPECTATIONS, UNEMPLOYMENT RATE FALL TO 5.9%

Workforce participation is still at historic lows. I suspect you're seeing the beginning of the seasonal ramp-up. Also, courtesy of ObamaCare, there is now great motivation to hire two part time employees instead of one full time.

They had a guy on WLW this morning saying that, at least in Cincinnati, they can't get people to work manufacturing (Toyota, Georgetown, KY), truck driving, or trades right now. There are jobs out there to be had if someone has a good work ethic.

I think we're seeing the beginning of the seasonal hiring, and bump in part-time employees like GTS said. Still good news though.

(10-03-2014 09:23 AM)georgia_tech_swagger Wrote:  Workforce participation is still at historic lows. I suspect you're seeing the beginning of the seasonal ramp-up. Also, courtesy of ObamaCare, there is now great motivation to hire two part time employees instead of one full time.

So true.

(10-03-2014 09:29 AM)mlb Wrote:  They had a guy on WLW this morning saying that, at least in Cincinnati, they can't get people to work manufacturing (Toyota, Georgetown, KY), truck driving, or trades right now. There are jobs out there to be had if someone has a good work ethic.

A lot of the people who traditionally would have filled those jobs (i.e., men ages 22-39) either lack the education/skills or have a criminal record or some combination of the above.

(10-03-2014 09:23 AM)georgia_tech_swagger Wrote:  Workforce participation is still at historic lows. I suspect you're seeing the beginning of the seasonal ramp-up. Also, courtesy of ObamaCare, there is now great motivation to hire two part time employees instead of one full time.

At lowest point since 1978, but keep in mind this began to decline back in 2000 or so.

“The unexpectedly swift decline in the unemployment rate in recent years has in large part been attributed to a drop in the labor force participation rate. The labor force participation rate has fallen due to cyclical factors such as workers temporarily dropping out of the workforce because of discouragement over job prospects, but also due to structural forces such as the Baby Boomers reaching retirement age and younger workers staying in school longer. But with the labor market finally gaining some traction this year, is the unemployment rate now falling as more unemployed workers are finding jobs?”
– John Silvia and Sarah Watt House, Labor Force Flows: Movement Behind the Headlines (2014) Wells Fargo Securities. (http://www.cumber.com/content/special/La...252014.pdf)

Read more: http://www.businessinsider.com/schizophr...z3F5tm4kiF

(10-03-2014 09:29 AM)mlb Wrote:  They had a guy on WLW this morning saying that, at least in Cincinnati, they can't get people to work manufacturing (Toyota, Georgetown, KY), truck driving, or trades right now. There are jobs out there to be had if someone has a good work ethic.

I see the same thing in the electrical field. And many of these guys are in their 50's and 60's and looking to retire. But there isn't a workforce to replace them.

(10-03-2014 09:48 AM)Native Georgian Wrote:  A lot of the people who traditionally would have filled those jobs (i.e., men ages 22-39) either lack the education/skills or have a criminal record or some combination of the above.

I think that describes one end of the spectrum. On the other side is the recent college grad with no white college job prospects who feels that such employment is beneath their station.

And what is the average income of these new jobs.......................? Below $35K would be my guess.

Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force

Quote:While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% - the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!

And that's how you get a fresh cycle low in the unemployment rate.

So the next time Obama asks you if you are "better off now than 6 years ago" show him this chart of employment to the overall population: it speaks louder than the president ever could.



http://www.zerohedge.com/news/2014-10-03...t-labor-fo

Good news! Thanks Obama!

(10-03-2014 09:23 AM)georgia_tech_swagger Wrote:  Workforce participation is still at historic lows. I suspect you're seeing the beginning of the seasonal ramp-up. Also, courtesy of ObamaCare, there is now great motivation to hire two part time employees instead of one full time.

Is this just your opinion? I know at the company I work at it costs a lot of money to hire people. Recruiting, advertising, interviewing, testing, background checks, training, paperwork, etc.

So there is a cost to simply adding part-time jobs in lieu of full-time jobs. That has to be factored into the equation.

(10-03-2014 10:43 AM)Redwingtom Wrote:  

(10-03-2014 09:23 AM)georgia_tech_swagger Wrote:  Workforce participation is still at historic lows. I suspect you're seeing the beginning of the seasonal ramp-up. Also, courtesy of ObamaCare, there is now great motivation to hire two part time employees instead of one full time.

Is this just your opinion? I know at the company I work at it costs a lot of money to hire people. Recruiting, advertising, interviewing, testing, background checks, training, paperwork, etc.

So there is a cost to simply adding part-time jobs in lieu of full-time jobs. That has to be factored into the equation.

That's true. It would be interesting to see if the extra costs in hiring two people is offset by the cost of higher healthcare costs for one full time employee. Of course this would be different for every employer given different costs for hiring/training folks. I'd imagine lots of employers are doing those calculations these days.

Get the Labor Force Participation Rate to drop to 60%, and Obama could get a third term.

(10-03-2014 09:29 AM)mlb Wrote:  They had a guy on WLW this morning saying that, at least in Cincinnati, they can't get people to work manufacturing (Toyota, Georgetown, KY), truck driving, or trades right now. There are jobs out there to be had if someone has a good work ethic.

It seems that a lot of Americans won't do just any job anymore. No wonder undocumented workers are needed to fill those positions.

(10-03-2014 12:30 PM)Fitbud Wrote:  

(10-03-2014 09:29 AM)mlb Wrote:  They had a guy on WLW this morning saying that, at least in Cincinnati, they can't get people to work manufacturing (Toyota, Georgetown, KY), truck driving, or trades right now. There are jobs out there to be had if someone has a good work ethic.

It seems that a lot of Americans won't do just any job anymore. No wonder undocumented workers are needed to fill those positions.

This isn't anything new. I grew up in a county with quite a lot of farming and have always seen migrant workers doing the menial field work. Been this way for 40+ years at least.

(10-03-2014 12:43 PM)Redwingtom Wrote:  

(10-03-2014 12:30 PM)Fitbud Wrote:  

(10-03-2014 09:29 AM)mlb Wrote:  They had a guy on WLW this morning saying that, at least in Cincinnati, they can't get people to work manufacturing (Toyota, Georgetown, KY), truck driving, or trades right now. There are jobs out there to be had if someone has a good work ethic.

It seems that a lot of Americans won't do just any job anymore. No wonder undocumented workers are needed to fill those positions.

This isn't anything new. I grew up in a county with quite a lot of farming and have always seen migrant workers doing the menial field work. Been this way for 40+ years at least.

Same thing here. I live in El Paso however so I thought it just happened here because we are on the border.

(10-03-2014 01:01 PM)Fitbud Wrote:  

(10-03-2014 12:43 PM)Redwingtom Wrote:  

(10-03-2014 12:30 PM)Fitbud Wrote:  

(10-03-2014 09:29 AM)mlb Wrote:  They had a guy on WLW this morning saying that, at least in Cincinnati, they can't get people to work manufacturing (Toyota, Georgetown, KY), truck driving, or trades right now. There are jobs out there to be had if someone has a good work ethic.

It seems that a lot of Americans won't do just any job anymore. No wonder undocumented workers are needed to fill those positions.

This isn't anything new. I grew up in a county with quite a lot of farming and have always seen migrant workers doing the menial field work. Been this way for 40+ years at least.

Same thing here. I live in El Paso however so I thought it just happened here because we are on the border.

Nope...even all the way up in Ohio, it was always migrants picking and weeding beans and tomatoes, etc.

I still blame Obama.

Not so fast my friend....

Quote:First the reason unemployment dropped to the fantasy level of 5.9% is that 315,000 more Americans dropped out of the Labor Force (in one month).

Quote:The bad news is coming in waves. The only people being hired are your grandparents. 230,000 of the new jobs went to those in the 55 to 69 year old age group. In the prime working age group of 24 to 54 years old, 10,000 jobs were lost. Yes, I said lost.

Holy freaking batman! What is happening? It means grandma and grandpa are desperate and willing to take grandson’s low wage job to survive until Social Security kicks in. The U.S. workforce is now the oldest in history. And if grandpa has to work (out of desperation) until the day he dies, there will never be any decent jobs for the grandkids.

Quote:But I’ve saved the worst news for last. What good is the news of 248,000 new jobs if they are all part-time or low-wage jobs? Four of the five new jobs were in the lowest quality categories.

a few nuggets to think about.

Jobs Report