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-u...-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.
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]

Originally Posted by Platapus

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.

[fireftr18]

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

[em2nought]

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

[Platapus]

Originally Posted by fireftr18

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

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.

[mapuc]

Originally Posted by Platapus

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