Thread: The strongest economy in the world

And let's keep allowing legal immigration as well as illegal.

After all, there are lots of jobs.

Record 93,626,000 Americans Not in Labor Force; Participation Rate Declines to 62.6%

By Ali Meyer | July 2, 2015

Record 93,626,000 Americans Not in Labor Force; Participation Rate Declines to 62.6%

Sure, the unemployment rate has come down but at what price, eh?





The country's in the very best of hands...

The unemployment rate declined - because less people are in the labor force. At least finally, the MSM admits this.

US created 223,000 jobs in June vs. 230,000 expected; unemployment rate at 5.3%
Jeff Cox
Thursday, 2 Jul 2015

American companies kicked off the summer with modest growth in hiring, sending nonfarm payrolls up 223,000 in June, according to Labor Department numbers released Thursday.

In addition to the payroll growth, the unemployment rate ticked lower to 5.3 percent from 5.5 percent, due largely to a sharp decline in labor force participation, which fell from 62.9 percent to 62.6 percent, its lowest level since October 1977. A broader measure that includes those who have stopped looking for work or working parttime for economic reasons slipped as well, from 10.8 percent to 10.5 percent.


US created 223,000 jobs in June vs. 230,000 expected; unemployment rate at 5.3%

More details.

Jul 4, 10:24 AM EDT

JOB MARKET'S NEW NORMAL: SMALLER WORKFORCE, SLUGGISH PAY
BY CHRISTOPHER S. RUGABER AND JOSH BOAK
AP ECONOMICS WRITERS

News from The Associated Press

And the worst state in which to try to make a living is...Hawaii.
A political process that emphasizes racial divisions; an economy that is dominated by militant public employees unions; a commercial atmosphere that is strongly anti-business...


Hey, at least the weather is pretty good.


The best and worst states to make a living in 2015 - Business Insider

Seattle News and Events | Clamoring for Calmer, Cheaper, Greener Pastures, Fed-Up Seattleites

Clamoring for Calmer, Cheaper, Greener Pastures, Fed-Up Seattleites Are Moving to Bellingham

"Nowadays, a steady trickle of fed-up and stressed-out older, self-employed (for the most part) Seattleites are swimming—or, metaphorically speaking, rowing, like Dirty Dan—to Bellingham, the northernmost city of more than 50,000 in the contiguous U.S. “We used to be the place for parents looking for an apartment to put their kids in for college. Now we’re seeing parents looking for a place to put themselves,” says Bellingham real-estate broker Lori Reece. “The trick, though, is finding a job. You have to be at a certain point in your life to make this work.”
The reasons behind the farewell to the Emerald City are hardly surprising: the horrendous cost of housing, the escalating disparity of wealth, the rising level of homelessness, the onslaught of massive (and generic) high-density developments, the constant lamentations about gentrification, and the complaints that the ranks of technology workers are homogenizing the culture. Then there are the road closures, the road diets, the roadblocks, and the epic any-time-of-day traffic jams that can mess with the psyche—making you question whether, say, it’s worth the time and effort to get to that new restaurant on Capitol Hill that you’ve heard such good things about, never mind being able to park once you arrive".



Have had it on my mind to bail on the entire state for a while now. California prices followed the migration of Californians to Washington.

^ Ya its getting bad. The city just doesn't have the infrastructure for this kind of growth. The city is constantly rezoning neighborhoods to allow for more tall building blocks of unaffordable housing. The city is loosing its soul very quickly.

Originally Posted by bsnub

^ Ya its getting bad. The city just doesn't have the infrastructure for this kind of growth. The city is constantly rezoning neighborhoods to allow for more tall building blocks of unaffordable housing. The city is loosing its soul very quickly.

I've lived in Oak Harbor and Bremerton and the ex lives in Redmond. Starting to lose interest in living in Washington altogether.

Originally Posted by Storekeeper

Redmond

Seriously?

I was in Redmond for a while when I was hired for a company as their VP APAC out of Amsterdam.

Schmall, schmall world, I schay

Originally Posted by Storekeeper

Seattle News and Events | Clamoring for Calmer, Cheaper, Greener Pastures, Fed-Up Seattleites

Clamoring for Calmer, Cheaper, Greener Pastures, Fed-Up Seattleites Are Moving to Bellingham

Please don't leave Seattle and ruin another place.

As bsnub noted, Seattle did not plan for population growth.

I remember in a class in Seattle in 1990 an Econ teacher talked about how Seattle should have planned for population growth in the 1930s.

It's not an easy city to get around, IMO.

Parking is difficult. I lived on First Hill on 8th and Spring and was lucky that I got one parking space and paid for it.

Seems like miro-apartments are still growing - without parking available.

Buses seem OK, but transpo is not good there.

I will never live there again.

Originally Posted by panama hat

Originally Posted by Storekeeper

Redmond

Seriously?

I was in Redmond for a while when I was hired for a company as their VP APAC out of Amsterdam.

Schmall, schmall world, I schay

Sons attended Lake Washington High School ... Mascot? LWHS Kangaroos ...

Originally Posted by Storekeeper

Originally Posted by panama hat

Originally Posted by Storekeeper

Redmond

Seriously?

I was in Redmond for a while when I was hired for a company as their VP APAC out of Amsterdam.

Schmall, schmall world, I schay

Sons attended Lake Washington High School ... Mascot? LWHS Kangaroos ...

Oh how the world makes fun of us.

The average age of cars is getting older. A bit surprising in the "Land of the car."

Average U.S. car is 11.4 years old, a record high

If the cars you see on the road these days seem a little run down to you, you might be on to something.

The average age of vehicles on America's roads has reached an all-time high of 11.4 years, according to the market research firm Polk. And that average age is sure to keep climbing, the firm said.

The decline in new vehicle sales during the recession pushed the average vehicle age higher, as people kept their old cars running longer, according to Polk. The number of vehicles over a dozen years old is growing especially rapidly, the firm said.

Average U.S. car is 11.4 years old, a record high - Aug. 6, 2013

I had stopover in Seattle. You don't know what you are talking about. Seattle is a fcing paradise compared to europe. At least the shops are open and there is electricity and internet. More beautiful too.

Originally Posted by Exit Strategy

I had stopover in Seattle. You don't know what you are talking about. Seattle is a fcing paradise compared to europe. At least the shops are open and there is electricity and internet. More beautiful too.

And the windshield wipers on your vehicle last a maximum of a month due to the rain.

Sounds like a real depressing place...

Seattle depressing? With that suicide music. lol...

As an outsider non economist I do have to wonder about the so called 'greatest economy' sitting on 2.3% GDP growth while China is discounted as only having a 7% dropping GDP.

Yes I know the US is said to be growing and China is said to be dropping but what would Obama give to have 7% GDP either up or down in his last year in office ?

Originally Posted by Exit Strategy

I had stopover in Seattle

Iz gud Yes?

Originally Posted by Exit Strategy

Seattle is a fcing paradise compared to europe

Again the comparison to Europe . . . how many of your asylum applications were rejected by various countries in the EU?

Oh, and you do know that Seattle is a city and Europe is a continent . . . to compare the two is a bit . . . well, silly.

Seattle passport no good, Yes?

Originally Posted by Exit Strategy

At least the shops are open and there is electricity and internet

Ok, Exit Strategy has informed everyone that Europe has no internet, electricity and the shops are closed.

Well, ES, you say you can prove everything you write . . . yet don't, but I'm looking forward to this bit of proof

Bloody hell, away with the fairies . . .

I know Seattle well.

Perhaps not as well at busnub, but I did live there 2 times: Capitol Hill and First Hill.

My granparents lived on Queen Anne (next to Gary Locke, BTW).

LOL. The British have been predicting the demise of the US ever since they lost the Revolutionary War. No longer a British colony, a bunch of armed American citizens threw the King of England all the way across the Atlantic where upon impact, he dug the English Channel.

There was a famous American named Paul Revere who made a midnight ride on horseback among the settlers announcing "The British are coming, the British are coming!" His wife later asked him, "If you knew the British were coming, why didn't you hide the damn silverware"?

After the surrender ceremony and while the British troops were limping er, uh sailing back to England, they started the prediction of the fall of America and haven't stopped since.

(They didn't get the silverware. Revere's wife hid it.)

Originally Posted by JBaker

LOL

LOL

Originally Posted by JBaker

The British have been predicting the demise of the US ever since they lost the Revolutionary War.

Have they?

Originally Posted by JBaker

and haven't stopped since.

As above . . . have they? Really?

No. Not really, just in the eyes of undereducated, closeted seppos

LOL


(And I'm not even a Brit - don't have much love for their history either, but altering facts is simply . . . well . . . silly)

But Obama said a couple months ago that the "Economy has healed."

Looks like it was worse than the bad news we've been getting.

Jul 30, 2015
The Worst Expansion Since World War II Was Even Weaker

Government data on economic output was revised for the past three years in part due to a new accounting of military spending.

The economic expansion—already the worst on record since World War II—is weaker than previously thought, according to newly revised data.

From 2012 through 2014, the economy grew at an all-too-familiar rate of 2% annually, according to three years of revised figures the Commerce Department released Thursday. That’s a 0.3 percentage point downgrade from prior estimates.

The revisions were released concurrently with the government’s first estimate of second-quarter output.

Since the recession ended in June 2009, the economy has advanced at a 2.2% annual pace through the end of last year. That’s more than a half-percentage point worse than the next-weakest expansion of the past 70 years, the one from 2001 through 2007. While there have been highs and lows in individual quarters, .overall the economy has failed to break out of its roughly 2% pattern for six years

The Worst Expansion Since World War II Was Even Weaker - Real Time Economics - WSJ

So, let me get this right . . . an expansion isn't good . . . recession is bad . . .

My post-grad studies focus heavily on economics . . . but I don't understand a lot of this anti-American/Obama stuff.

Does the US see itself, or should I say Obama's detractors, as another China with 7% expansion year after year after year after year?