U.S. job growth surges, unemployment rate falls to 3.8 percent

[Gerald]

WASHINGTON (Reuters) - U.S. job growth accelerated in May and the unemployment rate dropped to an 18-year low of 3.8 percent, pointing to rapidly tightening labor market conditions, which could stir concerns about inflation.

The closely watched employment report released by the Labor Department on Friday also showed wages rising solidly, cementing expectations that the Federal Reserve will raise interest rates this month. The bullish report also raises the possibility that the economy could overheat.

Overall, the U.S. economy looks strong,” said Paul Ashworth, chief economist at Capital Economics in Toronto. “In that environment, we still expect the Fed to hike interest rates an additional three times this year.”

https://www.reuters.com/article/us-usa-economy/u-s-job-growth-surges-unemployment-rate-falls-to-3-8-percent-idUSKCN1IW1NX

Good news for many.223,000 new jobs last month.

[Platapus]

Too bad that the Republicans have already told us that the employment numbers were faked and DOL numbers should not to be trusted.....or was that only during a Democratic Administration?

I can't keep up.

Are polls good or bad?
Are government released numbers good or bad?

It gets confusing.:doh:
I just wished the politicians would make up their minds.

[Gerald]

As usual when it comes to politicians who say something and do something completely different. Not surprising that trust is low for many.

[STEED]

I just wished the politicians would make up their minds.


The day they do that will be the day a massive custard pie from outer space will splat the earth. :DL

[fireftr18]

I don't trust the numbers. Those who have given up trying to get a job are not included. :06:

[em2nought]

I wonder what the numbers would be if there weren't obstructionists at every turn? :hmmm:

[Platapus]

I don't trust the numbers. Those who have given up trying to get a job are not included. :06:

That is a very good point.

In dealing with any statistic, it is critical to understand how the data is being collected and analyzed. It is also critical to understand how terms are defined.

[Gerald]

The numbers can easily be perceived as incorrect even fabricated, and this must be seen with open eyes.

[Platapus]

https://www.amazon.com/How-Lie-Statistics-Darrell-Huff/dp/0393310728
How to Lie with Statistics Reissue Edition


by Darrell Huff


First published in 1954 and still applicable today. :up:

If you are a cheap bastage, there are free bootleg copies on the Internets Tubes.

[mapuc]

That is a very good point.

In dealing with any statistic, it is critical to understand how the data is being collected and analyzed. It is also critical to understand how terms are defined.

This made me remember the years I lived i Sweden.

About 6-7 month before the election
I was called to our local employment office
My Case manager had a 6 month job to me.

The salary was the same as I got from my unemployment support.
Some month after I had started this job a statistic was made to see how high the unemployment was in the country.

After these 6 month I was fired as rest of the people who got this 6 month job.

Markus

[August]

https://www.amazon.com/How-Lie-Statistics-Darrell-Huff/dp/0393310728
How to Lie with Statistics Reissue Edition


by Darrell Huff


First published in 1954 and still applicable today. :up:

If you are a cheap bastage, there are free bootleg copies on the Internets Tubes.


Ok so you've established that it is possible for human beings to tell lies but so far I haven't seen you present a case that they lied about this. Got anything in that department because you are getting the Euros all riled up. :)

[Von Due]

From https://www.marketwatch.com/story/the-real-us-unemployment-rate-reached-a-17-year-low-2018-06-01

The official jobless rate, known as U3, only includes people who don’t have a job but have looked for one in the past month. The result is that millions of Americans who want to work are actually left out of the official figure, potentially making the labor market look healthier than it really is.

I see little evidence there is not a factual decrease in unemployment but the real figure is perhaps not quite as fantastic as 3 point 8 percent.

Another read
http://www.businessinsider.com/us-jobs-market-unemployment-rate-under-4-half-the-story-of-2018-5?r=US&IR=T&IR=T

[Onkel Neal]

I know this much: in this area, if you don't have a job it's because you don't want to work. Companies are raising pay and piling on benefits to get men in.

[fireftr18]

I know this much: in this area, if you don't have a job it's because you don't want to work. Companies are raising pay and piling on benefits to get men in.

In my area, I'm not seeing any kind of change.

[August]

Help wanted signs are noticeably abundant.