greymule Loc: Colorado

Anyone remember what the unemployment rate was when the last Republican President left office in a midnight sneak away?

Or what the stock market level was?

Check out the next post to see President Obama's stunning list of achievements, despite extreme Republican obstructionism.


WASHINGTON (AP) — American employers added a strong 292,000 jobs in December, suggesting that the U.S. economy is so far defying global trends and growing at a solid pace.
The Labor Department says the unemployment rate remained 5 percent for a third straight month. More Americans started looking for work, and most found jobs.
The government also said employers added a combined 50,000 more jobs in October and November than it had previously estimated. Hiring averaged 284,000 a month in the fourth quarter, the best three-month pace in a year.
The strong figures underscore the resilience of the U.S. economy at a time of global turmoil stemming from China's slowing economy and plummeting stock market. Most economists expect solid U.S. consumer spending will offset any overseas d**g, though many forecast only modest growth.
For months, U.S. employers have steadily added jobs even as global growth has f**gged and financial markets have sunk. Stronger customer demand has given most businesses confidence to hire even though some sectors — notably manufacturing and oil and gas drilling — are struggling.
If employers continue to hire steadily and to raise wages consistently, consumers are expected to keep spending and to support U.S. economic growth even if foreign economies struggle.
Still, stumbling growth in countries like China, the world's second-largest economy, and financial market turmoil could pose long-term challenges for the U.S. economy. A strong dollar and faltering global growth have cut into exports of factory goods.
The dollar has climbed about 10 percent in value in the past year compared with overseas currencies. That has made U.S. goods more expensive globally while lowering the price of imported products.
In November, exports fell to their lowest level in nearly four years and helped shaved about 0.6 percentage point from the economy's growth in 2015, according to Goldman Sachs. Most analysts estimate that the economy expanded at a modest pace 2.5 percent last year.
Another blow to manufacturing has been oil prices, which fell to their lowest level in 12 years Thursday. Oil and gas drillers have responded by slashing payrolls and sharply cutting spending on steel pipes and other drilling equipment.
Manufacturers added just 17,000 jobs last year through November. Yet manufacturing makes up just 10 percent of the U.S. economy and oil and gas drilling even less. Consumer spending accounts for roughly 70 percent.
For now, Americans are confident enough to buy more homes. Sales of newly built homes jumped nearly 15 percent in 2015 and helped spur building and construction hiring: Construction companies added 215,000 jobs last year, a 3.4 percent gain.
In another sign of consumer health, auto sales rose to a record high last year as cheap gas and low interest rates led to booming sales of SUVs and pickup trucks.
Lower gas prices may have hurt the oil patch, but they should benefit consumers by cutting their gas bills. Chris Christopher, an economist at IHS, a forecasting firm, estimates that American households saved, on average, $722 last year from cheaper gas. He expects them to save an additional $217 in 2016 given the continuing drop in oil prices.

FrumCA

In December 2007, the national unemployment rate was 5.0 percent, and it had been at or below that rate for the previous 30 months. At the end of the recession, in June 2009, it was 9.5 percent. In the months after the recession, the unemployment rate peaked at 10.0 percent (in October 2009).

http://www.forbes.com/forbes/welcome/

sarge69 Loc: Ft Myers, FL

292K Christmas temporary hires ??

Sarge69

steve40 Loc: Asheville/Canton, NC, USA

Yep!. The actual REAL unemployment figure, is more like 10%. That does not count!, the people who have given up.

And somebody!, just keeps adding government dependent people to the welfare roll. ??????????? wonder who.

robertjerl Loc: Corona, California

You don't suppose it being December and stores hiring temps for Christmas had anything to do with it do you?

And that 5% is still too low a number to show the true picture. That is the ones without a job who still go into the office and do the paperwork. All the ones who just gave up and stay home, work under the table, part time or even found a doctor to sign papers for disability are just not counted. I know some in those groups. They want a job, but gave up on the system long ago, or used up their unemployment. Some took a low pay, often part time job when they are qualified for a much better job. But the place(s) were they did or could work have cut way back or even went out of business in the present economy.

gmcase Loc: Galt's Gulch

This OP is hoeplessly delusional. He is a malignant Progressive group think groupie and cannot escape. His posts have as much value as Confederate bonds. Both lost all of their worth long ago.

idaholover Loc: Nampa ID

How can it be that everything you stand for is so wrong!
http://cnsnews.com/news/article/terence-p-jeffrey/92594000-americans-not-labor-force-hits-all-time-record-participation

gmcase Loc: Galt's Gulch

They constantly drink Progressive group think koolaid. Then they regurgitate the malignant lies over and over again.