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Wages Rise and 200,000 Jobs Added

Posted: Fri Feb 02, 2018 11:32 am
by Professor Fate
U.S. employers added a robust 200,000 jobs in January, and wages rose at the fastest pace in more than eight years, encouraging trends that suggest that the economy may accelerate this year.

The unemployment rate remained 4.1 percent, the lowest level since 2000, the Labor Department said in its monthly jobs report Friday.

The pay gains show that employers are increasingly competing for a narrower pool of workers with the U.S. expansion now in its ninth year. Raises stemming from Republican tax cuts and minimum wage increases in 18 states also likely boosted pay last month. The figures point to an economy on strong footing, fueled by consumer spending and global growth.

The pickup in wages could make it likelier that the Federal Reserve will raise short-term interest rates more quickly in coming months. In anticipation of inflation pressures and of a possible acceleration of Fed rate hikes, investors sent the yield on the benchmark 10-year Treasury note surging after the jobs report was released. The yield reached 2.84 percent, from 2.79 percent before the jobs report was released.

Stock prices also plunged after the jobs report was issued, partly in response to the prospect of higher rates as well as to poor earnings reports from Google's parent company Alphabet, Exxon Mobile and Chevron.

https://www.msn.com/en-us/money/markets ... li=BBnb7Kz

Re: Wages Rise and 200,000 Jobs Added

Posted: Fri Feb 02, 2018 12:12 pm
by Fordama
Good to see the Obama era recovery continue.

Re: Wages Rise and 200,000 Jobs Added

Posted: Fri Feb 02, 2018 12:46 pm
by MDDad
I'm sure you'll call it the Obama era recovery until the day the next Democrat moves into the Oval Office.

Re: Wages Rise and 200,000 Jobs Added

Posted: Fri Feb 02, 2018 12:48 pm
by Bick
Now that's funny. The Bush economy lasted until there was an upturn. Everything was Bush's fault. Stands to reason now the Obama economy will last until the next downturn.

Re: Wages Rise and 200,000 Jobs Added

Posted: Fri Feb 02, 2018 1:40 pm
by Fordama
I can read graphs. I understand how trend lines work.

To support Trump all one has to do is either deny basic math or just not know it.

Re: Wages Rise and 200,000 Jobs Added

Posted: Fri Feb 02, 2018 2:18 pm
by Bick
Apparently neither MDD or I don't know basic math, and can't read a calendar either.

What date did the Obama economy start, and what date does it end?

Re: Wages Rise and 200,000 Jobs Added

Posted: Fri Feb 02, 2018 2:31 pm
by joefutbol
Honest question -- can you answer that?

Re: Wages Rise and 200,000 Jobs Added

Posted: Fri Feb 02, 2018 2:39 pm
by Bick
Joe - if you're talking to me, I used to think it ran from Inauguration Day to Inauguration Day. Apparently that's all changed.

Re: Wages Rise and 200,000 Jobs Added

Posted: Fri Feb 02, 2018 5:41 pm
by Wabash
Bick wrote: What date did the Obama economy start, and what date does it end?
The Obama recovery started in June, 2009.
Bick wrote:
The Bush economy lasted until there was an upturn.
The recession Bush handed off to Obama started in December of 2007. There was no upturn.

Re: Wages Rise and 200,000 Jobs Added

Posted: Fri Feb 02, 2018 9:54 pm
by Bick
Economy Wabash...not recovery.

Re: Wages Rise and 200,000 Jobs Added

Posted: Sat Feb 03, 2018 6:11 am
by not4u13
Trump didn't pass any major policy or change anything significant that in and of itself caused the economy to become better. Stocks went up on speculation he would favor business and he has. It's easy to see when you look at the trend lines that this trend began well before Trump took office and has continued. Hard to give Trump full credit for something that was already happening. Economists frequently tell us that any changes to the economy that happen during the first year of a President's term could not be caused by that President but rather are much more likely to be due to the previous President. It takes longer for people to feel the changes and for them to show up in economic indicators (like a Jobs report) than you might imagine.

That said. I don't think it matters much who turned the ship around. It's now going in the right direction. Now the question is, will it continue? How fast and how far?

Re: Wages Rise and 200,000 Jobs Added

Posted: Sat Feb 03, 2018 8:14 am
by MDDad
not4u13 wrote:Economists frequently tell us that any changes to the economy that happen during the first year of a President's term could not be caused by that President but rather are much more likely to be due to the previous President.
Or, more likely, neither or them. Most presidents receive much more credit for what the economy does than they probably deserve.

On the other hand, if millions of people started investing in the stock market in anticipation of a Trump presidency and a more favorable climate for business, that must certainly be credited to Trump and not Obama.

Re: Wages Rise and 200,000 Jobs Added

Posted: Sat Feb 03, 2018 8:57 am
by Fordama
Bick wrote:Apparently neither MDD or I don't know basic math, and can't read a calendar either.
No, you simply shove reality through a partisan filter.

Re: Wages Rise and 200,000 Jobs Added

Posted: Sat Feb 03, 2018 9:42 am
by Bick
I can see why you might say that.

So back to the question...What date did the Obama economy start, and what date does it end?

Re: Wages Rise and 200,000 Jobs Added

Posted: Sat Feb 03, 2018 9:48 am
by Bick
not4u13 wrote: That said. I don't think it matters much who turned the ship around. It's now going in the right direction. Now the question is, will it continue? How fast and how far?
You'll get some resistance on whether or not we're headed in the right direction, but you're correct...it doesn't matter who turned the ship around - not to me anyway. What's important is the decisions that were made, and an objective analysis of whether or not they were helpful.

Re: Wages Rise and 200,000 Jobs Added

Posted: Sat Feb 03, 2018 6:02 pm
by Omar Bongo
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https://data.bls.gov/pdq/SurveyOutputSe ... E_cesbref1

Re: Wages Rise and 200,000 Jobs Added

Posted: Sat Feb 03, 2018 9:31 pm
by John Q. Public
Paul Ryan's deleted tweet.

Image
And if she's extra thrifty she'll be able to buy a hot dog.

Re: Wages Rise and 200,000 Jobs Added

Posted: Sun Feb 04, 2018 12:21 am
by John Q. Public
Bick wrote: What date did the Obama economy start, and what date does it end?
I think this graphic says something about that but I'm not sure what, exactly.

Image
It's for their first years.

Re: Wages Rise and 200,000 Jobs Added

Posted: Sun Feb 04, 2018 2:13 am
by Wabash
John Q. Public wrote: And if she's extra thrifty she'll be able to buy a hot dog.
I like their hot dogs.

Re: Wages Rise and 200,000 Jobs Added

Posted: Sun Feb 04, 2018 7:14 am
by not4u13
Bick wrote:You'll get some resistance on whether or not we're headed in the right direction, but you're correct...it doesn't matter who turned the ship around - not to me anyway. What's important is the decisions that were made, and an objective analysis of whether or not they were helpful.
I think it's hard to argue that our economy is better now that it was 10 years ago when we were in a recession. History is the best judge of the impact that leadership decisions have on the economy. One thing most people agree on though, the condition of the economy has little or nothing to do with the actions taken during the first year a President is in office. The tax cut this administration passed (which is the single biggest thing it has done) will certainly help economic growth even if it does horrible things to the national debt.