Another strong jobs report: US adds another 850,000 jobs in June (vote, Maine)
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I don’t understand the equivalence people think exists here. The free money you are entitled to while not working (if any) is almost always a fraction of what you can earn at any sort of decent job. The only people content with free money from the gov are those content to remain poor, which I don’t think comprises most Americans.
That's why I said enough money. I heard that people were getting more staying at home than working. It could be just a rumor or propaganda to get people to go back to work or something like how they say section 8 recipients are better off than those who are working...can't always believe what you hear but my post was written under the assumption that those rumors were true. I don't know because I've never gotten unemployment.
Good sign, but these are just jobs that are reopening with the end of the pandemic. Unemployment is still about 3% higher than it was under Trump pre pandemic. Meanwhile, inflation is rising. Fuel is more expensive than I have paid in about ten years. The anti oil rhetoric and actions of Biden are having an effect.
I don’t understand the equivalence people think exists here. The free money you are entitled to while not working (if any) is almost always a fraction of what you can earn at any sort of decent job. The only people content with free money from the gov are those content to remain poor, which I don’t think comprises most Americans.
Unfortunately people are too lazy to go to the source (BLS) to understand the naysayers in this thread are spewing hogwash, or they just prefer to ignore the numbers because they just want to rant (fairly common on this forum).
Unfortunately people are too lazy to go to the source (BLS) to understand the naysayers in this thread are spewing hogwash, or they just prefer to ignore the numbers because they just want to rant (fairly common on this forum).
The BLS numbers say the same like any other source, lot of the unemployment drop is coming from Americans permanently out of the work-force and thus not counted in the unemployment numbers, not from new jobs, that's why labor participation is at a record low. And the job creation is dependent on the $5 trillion in stimulus money pumped in by the government and record national debt and deficits. We were supposed to have added more than a million jobs back in April and we still haven't hit that mark, so what happens when stimulus spending drops? And also this all occurring while the Fed still maintains interest rates of zero and all the quant. easing which is dangerous, destabilizing and not sustainable, we have a housing bubble so bad now and rising inflation that even with jobs, Americans can't afford anything. That's a direct result of the Federal Reserve policy and it's a sign of a bubble economy whose "growth" in reality is just inflation, not actual growth in people's economic well being or spending power.
The BLS numbers say the same like any other source, lot of the unemployment drop is coming from Americans permanently out of the work-force and thus not counted in the unemployment numbers, not from new jobs, that's why labor participation is at a record low. And the job creation is dependent on the $5 trillion in stimulus money pumped in by the government and record national debt and deficits. We were supposed to have added more than a million jobs back in April and we still haven't hit that mark, so what happens when stimulus spending drops? And also this all occurring while the Fed still maintains interest rates of zero and all the quant. easing which is dangerous, destabilizing and not sustainable, we have a housing bubble so bad now and rising inflation that even with jobs, Americans can't afford anything. That's a direct result of the Federal Reserve policy and it's a sign of a bubble economy whose "growth" in reality is just inflation, not actual growth in people's economic well being or spending power.
Yawn, already been covered.
U6 numbers are way down, which takes into account exactly what you're talking about. You don't get those kind of drops from people sitting on the sideline. Sorry, you're wrong.
Good sign, but these are just jobs that are reopening with the end of the pandemic.
Well, if anyone bothered to read the BLS reports generated by their tax-dollars, then through 2028 two-thirds of the jobs "created" (snicker) will be Boomers retiring and people hired to replace them, which is not the same thing as job creation.
And, yes, people are returning to work, which is not job creation, either.
During the lock-downs, a lot of small to mid-size business went under, and they won't be back.
Quote:
Originally Posted by bertwrench
Meanwhile, inflation is rising. Fuel is more expensive than I have paid in about ten years. The anti oil rhetoric and actions of Biden are having an effect.
Massive fail.
Let me know when you learn how to construct a Supply Schedule and a Demand Schedule.
I'll show you how to construct a Supply & Demand graph so you can see the equilibrium price of the oil you created your schedules for, because there are many oils and they don't sell at the same price. Some sell for a higher price for the benchmark oil; and some sell for a lower price.
Tars, waxes and heavy oils are not used in the production of gasoline. Those are strictly intermediate and light grade oils, so, no, the Keystone Pipeline has nothing to do with anything, even more so since its sole purpose is to transport oils to Gulf Coast ports for export.
None of your 168 refineries are even set up to run Canadian Tar Sands. The closest ones would be the two in Wyoming that refine Unita Basin Black Wax, but that assumes your processed the tar sands to remove the sand and the chemicals. Yeah, it's a slurry of tar and sand mixed with chemicals so it can be pumped through a pipeline. That's why no sane person wanted it, because the sand will wreck havoc with the seals, valves and pumps and a leak isn't just oil, it's the sandy-slurry-tar with a chemical that will ruin your aquifers, but then I guess you don't mind paying more for water.
Apparently, your oblivious to the concept of break-even price.
Certain fields/methods have a break-even price. Fracking is $50-$60/barrel depending on the grade. You have fields you can't pump unless oil is over $120/barrel and other fields you can't pump unless oil is $70-$80/barrel.
When there is no demand and prices fall, you have stop pumping, because transporting and storage are costly, and there is a limit on the amount you can store indefinitely.
I know in your fantasy world you probably think a mouse-click will shut down 40,000 wells, but that isn't reality. It took 6-8 months to shut those wells down, cap them, pump air into the feeder-lines (a 3-5 day job all by itself) and then drain the fluids out of the machinery and equipment. It's gonna take 6-8 months to restart them.
You only have 16 refineries out of 168 that refine gasoline and everyone of them are set up for intermediate grade or light grade oils.
It's sad really that you people are so dependent on something, yet have zero understanding of it.
Quote:
Originally Posted by Goodnight
The bottom line is that the extended unemployment helped people and there is no indication that the states that cut it short saw benefits.
That's because you don't understand Economics.
What happened in the Great Recession?
A lot of people went back to school. That's well-documented.
When the recession ended, did they quit school and rush out to get a job? No, because that would be stupid. Suffice to say it's a function of Opportunity Costs.
Same thing happened for STUPID19.
I'm not surprised you're incapable of going to the DofEd website and seeing how college enrollment is up, Pell Grants are up, student loans are up, because a lot of people went to school.
Some people saw the light. It's not in their best interest to have a job that can be so easily discarded, or they sought to improve their own position, and that was made easier with classes online or live-web.
So, no, they're not gonna rush back out into the job market, either.
Naturally, the Welfare Pukes didn't take advantage of that.
That sat around whining and sniveling whilst scratching off their lotto tickets in a tattoo parlor getting a tattoo and drinking beers, because that's money well-spent, right?
The Biden administration continues to make progress in steering the American economy towards recovery. Notably, early data shows that states that ended the pandemic-era jobless benefits early did not push more unemployed people to resume their job search. From the article:
Although many economists rejected claims that pandemic-era jobless benefits are keeping people comfortably at home and away from work, various states have cut the special programs ahead of the September deadline.
But that didn't move the needle much in June. Early data from states that ended those programs shows that didn't push workers to resume their job search, said Cailin Birch, global economist at The Economist Intelligence Unit, in emailed comments.
These numbers are encouraging. Having a competent administration at the helm is paying off, for all Americans. It is nice to celebrate July 4th with this in mind. Happy birthday America!
The missing part is job participation, now 61% vs 67%.... some sobering perspective.
Well, if anyone bothered to read the BLS reports generated by their tax-dollars, then through 2028 two-thirds of the jobs "created" (snicker) will be Boomers retiring and people hired to replace them, which is not the same thing as job creation.
And, yes, people are returning to work, which is not job creation, either.
During the lock-downs, a lot of small to mid-size business went under, and they won't be back.
Massive fail.
Let me know when you learn how to construct a Supply Schedule and a Demand Schedule.
I'll show you how to construct a Supply & Demand graph so you can see the equilibrium price of the oil you created your schedules for, because there are many oils and they don't sell at the same price. Some sell for a higher price for the benchmark oil; and some sell for a lower price.
Tars, waxes and heavy oils are not used in the production of gasoline. Those are strictly intermediate and light grade oils, so, no, the Keystone Pipeline has nothing to do with anything, even more so since its sole purpose is to transport oils to Gulf Coast ports for export.
None of your 168 refineries are even set up to run Canadian Tar Sands. The closest ones would be the two in Wyoming that refine Unita Basin Black Wax, but that assumes your processed the tar sands to remove the sand and the chemicals. Yeah, it's a slurry of tar and sand mixed with chemicals so it can be pumped through a pipeline. That's why no sane person wanted it, because the sand will wreck havoc with the seals, valves and pumps and a leak isn't just oil, it's the sandy-slurry-tar with a chemical that will ruin your aquifers, but then I guess you don't mind paying more for water.
Apparently, your oblivious to the concept of break-even price.
Certain fields/methods have a break-even price. Fracking is $50-$60/barrel depending on the grade. You have fields you can't pump unless oil is over $120/barrel and other fields you can't pump unless oil is $70-$80/barrel.
When there is no demand and prices fall, you have stop pumping, because transporting and storage are costly, and there is a limit on the amount you can store indefinitely.
I know in your fantasy world you probably think a mouse-click will shut down 40,000 wells, but that isn't reality. It took 6-8 months to shut those wells down, cap them, pump air into the feeder-lines (a 3-5 day job all by itself) and then drain the fluids out of the machinery and equipment. It's gonna take 6-8 months to restart them.
You only have 16 refineries out of 168 that refine gasoline and everyone of them are set up for intermediate grade or light grade oils.
It's sad really that you people are so dependent on something, yet have zero understanding of it.
That's because you don't understand Economics.
What happened in the Great Recession?
A lot of people went back to school. That's well-documented.
When the recession ended, did they quit school and rush out to get a job? No, because that would be stupid. Suffice to say it's a function of Opportunity Costs.
Same thing happened for STUPID19.
I'm not surprised you're incapable of going to the DofEd website and seeing how college enrollment is up, Pell Grants are up, student loans are up, because a lot of people went to school.
Some people saw the light. It's not in their best interest to have a job that can be so easily discarded, or they sought to improve their own position, and that was made easier with classes online or live-web.
So, no, they're not gonna rush back out into the job market, either.
Naturally, the Welfare Pukes didn't take advantage of that.
That sat around whining and sniveling whilst scratching off their lotto tickets in a tattoo parlor getting a tattoo and drinking beers, because that's money well-spent, right?
I understand supply and demand perfectly. Demand isn't yet near 2019 level when we paid $2.50 a gallon. Boom! There is nothing that can be said to refute that FACT. Biden has clearly been anti oil and his actions AND WORDS have put pressure on the market. Oil is a speculation product. If they even THINK there will be shortages prices go up. He has not done one single thing to increase or support supplies but in fact just the opposite in word and deed. That is your answer to high fuel prices.
I understand supply and demand perfectly. Demand isn't yet near 2019 level when we paid $2.50 a gallon. Boom! There is nothing that can be said to refute that FACT. Biden has clearly been anti oil and his actions AND WORDS have put pressure on the market. Oil is a speculation product. If they even THINK there will be shortages prices go up. He has not done one single thing to increase or support supplies but in fact just the opposite in word and deed. That is your answer to high fuel prices.
This is much more than just Biden. As much as I usually disagree with Mircea, Mircea is right about oil right now. A president is an easy scapegoat, and that all Biden is.
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