American Elephants

There’s Good Economic News by The Elephant's Child
May 6, 2018, 2:27 am
Filed under: Politics | Tags: , ,

The US unemployment rate has dropped to a near 17½ year low of 3.9 percent. It was the second straight monthly drop in the participation rate. Economists polled by Reuters had forecast the unemployment rate falling to 4.0 percent.

The dollar paid no attention to the employment data and rose to its highest level this year against a basket of currencies. Jobs are widely available, but there is shortage in some needed skills.

The media is not anxious to extol any good news about the economy. but bits do get through now and then. Things are going well. Valerie Jarrett popped up to claim that the good news was because of Obama’s efforts.


3 Comments so far
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Well, Valerie Jarrett has a point, kinda.

If Obama hadn’t been so monumentally bad on foreign policy, domestic policy, fiscal policy, regulatory policy, and social policy, we might have wound up with Bill’s wife* as President. And Trump wouldn’t have been able to roll back all that silliness.

(*- being Bill’s wife was the only political distinction Hillary ever had, and so, that is what I now refer to her as.)


Comment by Lon Mead

You always make me laugh Lon.


Comment by The Elephant's Child

Misread that as being about the labor participation rate– for this month, it’s the same or better as back to 2014, except for being .1% lower than last year.

That’s employed or unemployed people divided by the “Civilian Non-institutional Population”, which is defined as “everyone living in the U.S. who is 16 or older MINUS inmates of institutions such as prisons, nursing homes and mental hospitals and MINUS those on active duty in the Armed Forces.”

It’s actually a pretty big dang deal, because up to those born in ’55, the retirement age is 66.

There’s been a lot more folks hitting retirement age, and they’re still i n the CNP. (duh)

Since volunteering or working at home doesn’t count, it isn’t time to panic yet. 🙂


Comment by Foxfier

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