MercoPress. South Atlantic News Agency
Unemployment in the US falls to a four-year low of 7.5%
The US economy showed last month why it remains the envy of industrialized nations: in the face of tax increases and federal spending cuts, employers added a solid 165,000 jobs in April, and the unemployment rate dropped to a four-year low of 7.5%. Read full article
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Disclaimer & comment rules“The US economy showed last month why it remains the envy of industrialized nations”
May 06th, 2013 - 09:36 am - Link - Report abuse 0I would say MANY industrial nations but not all. While it is a great figure and I am glad unemployment is dropping, I can't say my country is envious considering our unemployment is currently 5.5% and the last time it was 7.5% was in December 1998.
That is almost 15 years now with unemployment below this supposedly envious figure. And we've managed to increase our population by 20% since then too.
Congratulations America, happy but not envious.
Now lets see how the media and US govt lies and cook the books.
May 06th, 2013 - 12:46 pm - Link - Report abuse 0Honestly not even US flag wavers here can believe that, because what they are reporting is U3 unemployment and not the total official cooked figure.
What is an unemployed? A person that is in condition to work but its out of work for many reasons.
So a person that is homeless and is discouraged to find a job or its impossible for him to find a job is no unemployed any more magically?
Of course not but they are not counted in the “Official” unemployment figures they just magically disappear with the time like in a black hole.
But what tell as the cooked figures of US BLS statistics U6?
That always the real unemployment figures are the double of what the “Official cooked figures” say.
Current U6 (Total unemployment)= 13.9%
http://www.bls.gov/news.release/empsit.t15.htm
http://www.bls.gov/news.release/empsit.t15.htm
http://www.bls.gov/news.release/empsit.t15.htm
Cooking the books? Who????
How many categories does ANY SA country use to count unemployed?
May 06th, 2013 - 02:54 pm - Link - Report abuse 0Think of it as having something to lay an egg over.
U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force
U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force
U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate)
U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers
U-5 Total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force
U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force
Do us a favor dumburger.......before you lay some cheese on yourself.....do a U-6 analysis for the past 15 years.
Just like at the end of the LAST global downturn, 1930s, America remains one of the safest places to be in the world.
May 06th, 2013 - 05:08 pm - Link - Report abuse 0We've been wealthy for 500 years.
Let's just let the Deep South go, finally :)
Hmmm according to MECON, Argentina had 15,985,000 people working in the fourth quarter of 2012. Out of a population of 40,750,000 million people.
May 06th, 2013 - 08:20 pm - Link - Report abuse 0So 40% of the population was legally allowed to work and performed a job during this time for a company, government, institution or any other entity.
Australia was 50.2%.
The US was 46%.
Australia didn't have a recession so had low unemployment so good figure.
The US is coming out of a bad recession is this figure will improve as unemployment drops.
But Argentina? 60% of the entire population doesn't work. And supposedly the economy is doing well and growing and unemployment is lower than the US.
There's supposedly no economic problems in Argentina!
Excellent info, @5 Anglotino.
May 06th, 2013 - 09:09 pm - Link - Report abuse 0@ Anglotino
May 07th, 2013 - 07:07 am - Link - Report abuse 0Australia labour force: 12.27 million
Unemployment: 5.5% (641.700 out of work and/or under benefits)
Argentina labour force: 17.07 million
Unemployment: 7.2% (1,22 millions out of work and/or under benefits)
US labour force: 154.9 million
Unemployment: 13.9% (21,53 millions out of work and/or under benefits)
UK labour force: 31.9 million
Unemployment: 19,5% (6,22 million out of work and/or under benefits)
The % is measure over labour force and not the whole population you would not count retired people as an active worker. Do ya?
BTW Argentina have no recession since 2003 until now and with steady growth until 2009 of 8% average yearly.
Haha Dany, after all this booming and growing and lack of recession, Argentina can still only manage to get 40% of its population population working? China is at 55%
May 07th, 2013 - 10:43 am - Link - Report abuse 08% growth still couldn't suck up all those that want work.
Argentina is in recession right now but you as you have proven time and time again, you are a sycophant who can't critically think.
You know how foolish you are going to look when the truth comes out because no one but people like you believe the statistics that come out of the Argentine government.
Oh, by the way, we have had over 20 years without a recession in Australia. As you freely admitted Argentina had one in 2003, that means we have had done better than Argentina.
And lower unemployment..... sort of doesn't gel with all your fanciful newspaper derived claims that our slims are bigger than Argentina's and our poverty rate is higher.
@Anglotino
May 08th, 2013 - 09:28 am - Link - Report abuse 01-How can be 1.22m be half or Arg population?
2-Do you count kids and people retired as a work force?
3-Australia is enjoying boom since the 90 in mining and exports of raw materials thanks to China while industries are lowering out put. That is the reason why according with some economist is considered a 2 speed economy. So while the East cost is close to recession the west and north of Australia are keeping Australia out of the red.
4-You are measuring Australia’s performance in nominal terms base on $$$, with a currency that had appreciated since 2001 to 2008 more than 55%. That have boosted artificial your GDP thing that you can appreciate clearly when you compared it with the Australia GDP measured in PPP.
While Australia has a GDP of U$s960,70bn in PPP , Argentina has U$s746,9bn. In PPP
So the so called “better Australia performance” it is quite debatable, especially when you bring into the discussion the huge Australian debt that was until December 2012 U$s1.466 trillions.
Oops! That is close to 95,13% of your nominal GDP (U$s1.542 trillion).
So Australia inc. has a problem in its balance account and deficits are producing debt and a big problem for the near future. Australia has doubled in a year its deficit from -U$s 29bn in 2011 to -U$s47.1 billion in 2012.
Do you know what the above means?
I hope so...
Such a dilemma for a country that pays it's debt to be compared to one that defaults on it's debt.....and yet.....the prosperity in Australia:
May 12th, 2013 - 07:41 pm - Link - Report abuse 0http://www.tradingeconomics.com/australia/indicators
And Argentina:
http://www.tradingeconomics.com/australia/indicators
@Craptain Poopy
May 14th, 2013 - 06:29 am - Link - Report abuse 0And that what shows? That Australia has a big external debt and a deficit in the BoP that in the near future will be hard to pay and balance it.
Have you see the Bankruptcies 960.00?
Lets wait for US default and then call me, would you?
What's your number to call? Can I call now?
May 14th, 2013 - 09:48 am - Link - Report abuse 0About no shit talking until the USA does default?
Dany says:
May 14th, 2013 - 12:13 pm - Link - Report abuse 0“Do you know what the above means?”
I say:
Yes, that you have no economic knowledge whatsoever.
Simples.
@Anglotino
May 14th, 2013 - 01:01 pm - Link - Report abuse 0Nope boy you have no idea of what is going on. An old trick made by international bankers like it is happening in Eu now and before in SA and Asia in the '90.
You get a lot of cheap loans, flying capital start to enter into your economy your currency gets overvalue, you start to be a debt making nation for the inability of your industrial sector to export and then and your best exports ended up to be raw materials and commodities.
Your BoP get messy and you need more loans like UK to finance it and the circus goes on and on until one day the bankers comes with a huge bill asking...
How are you gonna pay?
An then start cuts, cuts and more cuts, privatisation of everything, the extermination of the public WF, etc.
Well something like Greece and don't tell me that it not going to happend to AU because the Spanish and the Italian said that before too.
Sorry don't tell later that I didn't warned you...
Dany
May 14th, 2013 - 09:33 pm - Link - Report abuse 0The proof is in the pudding. You bolster your weak pathetic arguments with tabloid newspapers and YouTube. I work with actual facts. That's why you can't be reasoned with.
You lack even the msot basic ability to critically think. You make broad statements that are farcical and that even you know are untrue.
So I will let reality argue for me.
Australia and Argentina who were once so similar, that they were almost evenly matched countries economically and socially.
Now, they aren't even in the same league! Australia is one if the richest, most advanced and prosperous countries in the world. Our successes outweighs our failures.
Argentina isn't even considered a developing country anymore, it's a frontier economy!
You think Australia is going to hit some brick wall because you cherry pick statistics. Which is why you prove you don't know economics.
So I'll let the last 100 years speak for me and going forward, we'll see who has an economic crisis first, Argentina or Australia.
I guarantee I'll be quoting this post to you sometime in the next 2 years.
Which country will have a financial crisis first? I can wait. You've been warned.
@ Anglotino
May 15th, 2013 - 10:42 am - Link - Report abuse 0“Now, they aren't even in the same league! Australia is one if the richest, most advanced and prosperous countries in the world”
Well mate that it is a fallacy...
As I have showed you before Australian GDP nominal growth was driven by borrowing and the appreciation of its currency.
Allow me to provide a simple example, current Argentina GDP is USD500bn measured with dollar exchange of $5.18/5.20 per USD dollar. Right ?
Now suppose that Argentina like many countries did before as herself during “Convertibility” introduces again a dollar peg of 1 peso= 1 dollar (is more or less what you have now in AU).
Well that will turn Argentina GDP to more than 2.5 trillions dollars. And what has really changed in the size, power, output of its economy?
Absolutely nothing, but your fictitious powerful Australia will turn to the Argentina of today in comparison measure in dollar terms. Do you understand how it works?
But that have a cost that it is showed in the balance of payment that made incurs the nation to run a constant deficit why? Because this fictional currency value harm your balance of trade and produce deficit.
Like it is happening in UK and Australia now.
You say that Australia is a more advanced country...
In what sense?
Can you provide any proof of that?
Thank you...
Proof is in the pudding Dany boy!
May 15th, 2013 - 02:04 pm - Link - Report abuse 0I think in the long term. We'll see which country has a crisis first shall we. I'm patient. I'll wait. According to you our pack of cards economy should be close to collapsing any day now.
I mean with our massive debt, unsustainable currency and current account deficit about to turn us into the next Greece.
My bet with you is: Argentina will have either a debt or currency or economic crisis before Australia.
I dot have to prove anything to you, Argentina will be obliging enough to prove it for me.
So you keep believing that I live in a slum infested city with an economy that is lurching from one crisis to the next.
And I'll believe the same about you.
@Anglotino
May 15th, 2013 - 07:39 pm - Link - Report abuse 0“I think in the long term. We'll see which country has a crisis first shall we”
“And I'll believe the same about you.”
Why are you taking it so personal?
I don’t think you live in a slum and if you do what would change?
I’m not waiting for your country to collapse either, to see you in misery because that would not benefit anyone.
I’m aware that Australia is nice country and that also have good standards of living and much better than many countries I know in Europe (No name here ha ha).
But come on you cannot lecturing others countries because you have your own mess.
So peace mate...
Until the next article. ha ha
Oh Dany
May 15th, 2013 - 10:02 pm - Link - Report abuse 0“Slum infested” is not living in a slum.
But what happened. You suddenly backed down. Where are all your YouTube links and Today Tonight (my friends still laugh over than one) links?
Where's your bravado. Why just yesterday you were telling me that my country is on the brink of becoming like the UK. It's growth was nothing but speculation. That our GDP growth was all from currency appreciation.
That soon we would have to start cutting. That our austerity would mean privatising everything (what would be a good question).
What happen to your certainty?
I don't want any country to collapse or have economic crises, but Argentina WILL.
That is not HOPING, that is stating a FACT!
Your country will have major economic problems in the near future and mine will NOT.
But as soon as that prediction came up you suddenly backed away.
Pathetic and weak just like your intelligence mate.
Anglotino, Dany knows all that. He saw the writing on the wall in plain old Spanish, which is why he fled his former country of Argentina and why he refuse to move back. So much faith in SA that he left the entire continent.
May 15th, 2013 - 10:43 pm - Link - Report abuse 0Commenting for this story is now closed.
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