Obama Economy - The Final Chapter
 

The U.S. economy’s expansion slowed in the fourth quarter, and annual growth failed to reach 3% for an 11th straight year, reflecting the huge hurdles the Trump administration faces in trying to speed up a 7½-year-old expansion.

Gross domestic product, the official score card for the economy, expanded at a 1.9% annual clip from October to December, the Commerce Department said. That’s a marked drop from a 3.5% growth rate in the third quarter and below the 2.2% MarketWatch-compiled consensus.

For the full year, the U.S. grew just 1.6%, compared with its 2.6% clip in 2015. It was the weakest performance since 2011. The last time the U.S. topped 3% growth — the historical average is 3.3% — was in 2005.

http://www.marketwatch.com/story/us-...ows-2017-01-27

The labor force participation rate, at 62.7 percent, changed little in December and was unchanged over the year. In December, the employment-population ratio was 59.7 percent for the third consecutive month; this measure showed little change, on net, in 2016. (See table A-1.)

The number of persons employed part time for economic reasons (also referred to as involuntary parttime workers), at 5.6 million, was essentially unchanged in December but was down by 459,000 over the year. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

https://www.bls.gov/news.release/pdf/empsit.pdf

U6 Unemployment Number: 9.2%

Obama did exactly what his big donors wanted him to do.

He maintained the status quo so that the rich could get richer while the poor got poorer.

The Republicans should have loved him.

He was their kind of nigger.

http://i843.photobucket.com/albums/z...1231112754.jpg

https://www.youtube.com/watch?v=yuedZ1Y_dU4

Do not expect great economic shine for the US in this globalist world in which we have given up, handed over so much.

Obama's Big Sellout: He has Packed His Economic Team with Wall Street Insiders
 

While all you Hillarybots are screaming like a tree full of Chinese monkeys'about Trump's appoints, let's take a little trip down memory lane.

http://www.commondreams.org/news/200...treet-insiders

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TJ is the N word really necessary? Trump inherited a much better economy that Obama did FWIW.

You can take the white boy outta Floriduh but you can't take the Floriduh outta this one.

Thankfully Floriduh is completely on the other side of the country. :p

Should expect this nonsense from the obstructionists who refused to vote in the whole recovery package and still failed trying to hold the country hostage to what we are experiencing today from the GOP. Every time we put a Republican in the White House we have to elect a Democrat to come in and fix the mess.


Saved the economy, no W.H. scandals, no new blood for oil wars, got Bin Laden.....


Carl

Despite Whell's misleading statement, the unemployment rate dropped to 4.7% under President Obama.

Good thing is Floriduh will be only be a fading memory once the Atlantic and the Gulf meet in the center. The little bits left to the north can call themselves South Georgia. ;)

I figured that one would bring the PC police out.:rolleyes:

Like nobody really knows what is meant when someone says "The N word".

What other word would possibly pop into someones mind?

Out loud, on paper, on screen, in your mind, it's all the same.

:rolleyes:

I think the choice to use that particular word is quite revealing of the makeup or its user. So I suppose the better question for 68custom to have asked was whether it was necessary to express racism in that particular way.

I am honored to be a member of the PC police with only 700+ comments, its like I just became a teenager!

No misleading at all, Bob. Unemployment is expressed as a percentage, which is also a fraction. You can lower the percentage by lowering the numerator or increasing the denominator.

While the number folks accepting employment increased, the number of folks dropping out of the labor force also decreased. Some dropped out because they retired. (Some folks who retired also returned to the workforce as well, working to supplement retirement income.) Some dropped out because they stopped or gave up looking for work.

Bullshit, Mike. The BoL figure is 4.7% and it's the same standard that's been used by Republicans and Democrats for decades. More dishonest obfuscation from this poster.

Bullshit yourself. The BLS publishes both the U3 and ghe U6 unemployment numbers.

https://www.bls.gov/news.release/empsit.t15.htm

Take a Dramamine and get back to me, Sparky.

The link above describes U3 as the "official unemployment rate." So much for your silly obfuscational argument (as usual).

Careful Finn, he'll whip out his "Yorkie" and start yapping at you again. ;)

Yet another insightful post. :rolleyes:

A yapping Yorkie would make more sense than Whell has been making lately. I guess he has learned the art of fact-free debate from his Trumpenfuhrer.

Yes, and we can choose to look at the small opening in the clouds in the midst of the downpour an call it a sunny day. But what's the usefulness of that? As your hero Paul Krugman notes:

There is no “true” unemployment rate, just various indicators of the state of the labor market. Fortunately, these indicators pretty much move in tandem, so we’re not usually confused about whether the market is getting better or worse. But they do measure somewhat different things, and which one you want to look at depends on what questions you’re asking.

However, when you’re looking at food stamps, you want a sense of how many Americans are in economic distress — and a broad measure like U6 comes closer to doing that than the narrow measure usually cited.

The point I'm making, that you and Bob are attempting to dismiss but cannot, is the value of looking at the U6 rate during an economic recovery. Did we really have a robust "Summer of Recovery" that Joe Biden would be proud of?

Krugman is partially correct - amazing that Krugman actually gets something even partially right - that the U3 and U6 rates generally move in tandem, with typically a 3 - 4 point spread. But the two rates diverged significantly in 2009 when the difference jumped to 7 points.

The spread has narrowed of late - still higher than the average spread. However, unemployment remains around 5%, and economic growth is horrid: Q4 2016 came in at 1.9%, and for all of 2016 was a mere 1.6%. As I've posted repeatedly, until the economic growth rate starts to move upward significantly and the U6 number will remain relevant.