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The Economy has Recovered.

 
 
 
Nice Squirrel

Nice Squirrel

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Looks like the job market has recovered. Wages are still lagging due to the recent "race to the bottom".
http://money.cnn.com/2014/07/03/investing/june-jobs-report/index.html

The U.S. economy added 288,000 jobs in June, marking the fifth straight month where employers added at least 200,000 jobs. The last time that happened was in late 1999, as the dot-com bubble was inflating.
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http://www.google.com/publicdata/explore?ds=z1ebjpgk2654c1_&met_y=unemployment_rate&hl=en&dl=en

Minneapolis is at 3.9, Fargo at 2.4.
 
KeepTalking said:
But Boneyard Bill assured us only a month ago that we were heading into another recession, and Jason Harvestdancer one-upped him by proving with a sine wave that we were in The Great Depression Mk II. A freaking sine wave! You can't dispute that shit.
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Well, this latest data is clearly just a meaningless blip right before an asteroid slams into the Earth and kills everybody except the communists.
 
Nice Squirrel said:
Looks like the job market has recovered. Wages are still lagging due to the recent "race to the bottom".
http://money.cnn.com/2014/07/03/investing/june-jobs-report/index.html

The U.S. economy added 288,000 jobs in June, marking the fifth straight month where employers added at least 200,000 jobs. The last time that happened was in late 1999, as the dot-com bubble was inflating.
Click to expand...

http://www.google.com/publicdata/explore?ds=z1ebjpgk2654c1_&met_y=unemployment_rate&hl=en&dl=en

Minneapolis is at 3.9, Fargo at 2.4.
Click to expand...

Adding that many jobs will have to continue for a long time to deal with the backlog. A few places with low unemployment doesn't prove anything and the unemployment number is bogus anyway--it's U3, it doesn't count those who have been driven out of the labor force or those who are underemployed. U6 hasn't seen anything like the decline that U3 has.
 
Loren Pechtel said:
Nice Squirrel said:
Looks like the job market has recovered. Wages are still lagging due to the recent "race to the bottom".
http://money.cnn.com/2014/07/03/investing/june-jobs-report/index.html



http://www.google.com/publicdata/explore?ds=z1ebjpgk2654c1_&met_y=unemployment_rate&hl=en&dl=en

Minneapolis is at 3.9, Fargo at 2.4.
Click to expand...

Adding that many jobs will have to continue for a long time to deal with the backlog. A few places with low unemployment doesn't prove anything and the unemployment number is bogus anyway--it's U3, it doesn't count those who have been driven out of the labor force or those who are underemployed. U6 hasn't seen anything like the decline that U3 has.
Click to expand...

U2 did pretty well for a long time.
 
No. I do not think the job market has recovered at all when large corporate stores are re-branding and the future employees will never attain the wages that the current staff have negotiated over several contracts and which will be lost through attrition as employees move on or retire. Of 187 employees at another venue, only 30 remain 5 years later. All who have taken their places started at lower wages and have a longer and lesser progression, working more hours for smaller increases, increases which do not even come close to meeting the rates of inflation. It is not possible to live on minimum wage in this town so social assistance picks up the difference while corporate bottom line remains strong.

There is something seriously wrong with that kind of math.
 
If you’re a typical family, you’re considerably poorer than you used to be. No wonder the “recovery” feels like a recession.

A new study published by the Russell Sage foundation helps explain why many families feel like they’re falling behind: They actually are. The study, which measures the average wealth of U.S. households by income level, reveals a startling decline in wealth nationwide. The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago. “There are very few signs of significant recovery from the losses in wealth suffered by American families during the Great Recession,” the study concludes.
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Link
 
gdp_trend_wsj_2.png


http://johnhcochrane.blogspot.com/
 
To begin with, your first link is about a Wall Street Journal opinion article. Not a good source.

Let's look at the article:

When models don't yield the spending policies they want, some Keynesians abandon models—but not the spending
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I cannot wait to learn who these Keynesians are what models they abandon. Unfortunately I cannot, because of a pay wall. So let's go to your link:

Output per capita fell almost 10 percentage points below trend in the 2008 recession. It has since grown at less than 1.5%, and lost more ground relative to trend.
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Did you see that! How horrible... those fucking Keneysians! Ohh but look. Luckily he didn't cherry pick the dates for his "expected growth trend"... I mean like putting the starting point during a recession and an ending point at the end of the largest expansion in US economic history. That would be dishonest like those fucking Keneysians! And can you believe that per capita output fell during a recession. And the cause he cites:

Where, instead, are the problems? John Taylor, Stanford's Nick Bloom and Chicago Booth's Steve Davis see the uncertainty induced by seat-of-the-pants policy at fault. Who wants to hire, lend or invest when the next stroke of the presidential pen or Justice Department witch hunt can undo all the hard work?
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OBAMA and WELFARE QUEENS. Very good article from a totally non-partisan Cato Institute Scholar.
 
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