Friday, December 5, 2014

USA Economy Starting To Percolate...

Rational Nation USA
Purveyor of Truth


Uh oh, overall good economic news, including the best increase in jobs for a single month in 15 years. What next, the Dow sprinting above 18,000? Can not help but thinking about whether the current administration gets any credit for the improved performance and if the Tea Boys and Girls are working on the next scandel yet.

After more than five years of elusive gains, ordinary Americans may finally be about to see the benefits of the recovery where it really counts: in their pocketbooks and wallets.

The Labor Department reported Friday that employers added 321,000 jobs in November — a much stronger number than expected — but perhaps even more significant was the biggest gain in average hourly earnings since June 2013.

Hourly earnings rose by 0.4 percent in November, double what economists had been expecting. That gain in hourly pay was significantly above the measly 0.1 percent increase in October, let alone the unchanged number in September. At the same time, the number of hours worked ticked up by one-tenth, adding to pay envelopes.

“The pairing of strong hiring and wage gains is a really strong indicator of the health of the economy,” said Tara Sinclair, chief economist at Indeed.com, a leading job search website. “Now, we want to see people coming back into the work force and also finding the right jobs for them in terms of wages, skills, and hours.”

The pickup in wage growth is coming as gasoline prices are plunging, providing a double boon for consumers and retailers with the holiday shopping season underway.

For the year as a whole, the gain in jobs, with one month still to go, is shaping up as the best in 15 years.

In economics most things cut both ways, however, and Friday’s report was no exception.

The nascent labor market strength makes it more likely the Federal Reserve will start raising short-term interest rates sooner rather than later. Most economists expect the central bank to increase interest rates in mid-2015, after leaving them near zero since the depths of the financial crisis in late 2008. Some now argue that the Fed may move to raise its key interest rate lever as early as March next year, but most are still sticking with midyear.

As positive as the figures for November were, one month’s data probably isn’t enough to shift the Fed’s thinking, said Guy Berger, chief United States economist at RBS. “You’d have to see these kinds of number over the next three or four months, then March comes into play,” he said. “Our view now is that the first rate hike will come in June.”

Full article with video BELOW THE FOLD.

Via: Memeorandum

24 comments:

  1. This is the lousiest economy in 70 years. It's horrible by every objective metric. The Stock market is p because these criminals are printing money and giving it to giant banks who are in turn buying securities with the fake money.


    Brakabama and his fellow criminals will assuredly NOT get the credit they richly deserve for impoverishing the people of this country.

    ReplyDelete
  2. Hey Chuck, I was wondering how long it would be before you dropped in.

    Here we just present the news, with of course an occasional comment. Ya see it just doesn't make much sense running around chasing your tail while to blow things up, rhetorically speaking of course. History will be a by far better judge of Obama's legacy than you, I, or any other person or group of persons. Without the hyperbole, prejudices, and frankly all the bullsh*t.

    You know figures don't lie but liars sure do figure and data can be manipulated to represent pretty much any view anyone wans to take. So it is a good to formulate views based on facts and data that YOU have determined to be correct.

    Oh, and another thing, you should vote your conscience and pull the lever for the man or women you believe most closely shares your principles and values. Of course when neither candidate fits the criteria closely you have the opportunity to punt. Or, vote for the lesser of two evils. Which of course simply determines the rate of advancement to, well, the ultimate evil. Of curse there is always the option of working together but that's no fun and it would put FOX News and the plethora of political pundits out of business maybe.

    I won't ague Obama has been a good president nor will I argue GWB was a terrible president. It doesn't matter anyway because the facts are what they are, or in some cases what someone wants them to be.

    Sorry for the lengthy response which you will no doubt scoff at but please understand Chuck that I really don't care. As they say it simply is what it is.

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  3. I understand that you don't care about the truth, Les. You find it irrelevant. What is hilarious is how oblivious you are to the obvious. The title of you lame declaration is a sad joke. "Starting to percolate"? Starting five years after these liars you defend claim the recession ended?

    Holy crap, man. Are you really this damn gullible or are you just a liar? There is no difference in practice, but I do wonder. There is a moral difference.

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  4. Or is it you Chuck who doesn't care about the truth?

    Your truth is your perception and that's fine. Other intelligent people see things differently and that's a damn fine thing as well.

    I presented data, asked a question, poked fun at the Tea Party. That's it. Get over it.

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  5. You presented no data, by the way. You pasted propaganda.

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  6. Propaganda to you. Anything not fitting your worldview is propaganda.

    Keep trucking Chuck. Your shtick sells well elsewhere.

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  7. My "worldview" has nothing to do with what is right in front of your nose. Holy shit. Les, are you really this delusional? Seriously. Are you claiming the US economy is in good shape?

    I don't expect a serious answer, but your non-answer will be an answer whether you intend it to be or not.

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  8. One man's data is another man's propaganda. Damn, I'm glad FoxNews stayed the hell out of my
    laboratory!

    ReplyDelete
  9. Chuck is one of the best at what he does BB Idaho. Proving that being the best can indeed have no value.

    Keep trucking Chuck.

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  10. Chuck sounds like a very angry and a very unhappy dude. Anyone who claims he knows the "truth" is to be avoided and perhaps, mocked.

    " Believe those who are seeking the truth. Doubt those who find it." --Andre Gide

    ReplyDelete
    Replies
    1. Chuck is all of That Shaw. And so much more.

      Delete
  11. -U.S. Economic Confidence Index at 17-Month High

    -America is Free of Ebola Cases

    -U.S. November Auto Sales Pace Best Since 2003

    -G.O.P.-Led Benghazi Panel Bolsters Administration

    -What The Huge Drop In Gasoline Prices Means For America

    - Dow Hits Another Record Close

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  12. I hope the size of the workforce starts growing again.
    And the gas prices keep going down. Shaw's #5 is really really great.

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  13. 1,3, & 4 are the most vital. Wish increased activity in new housing starts were on the list as well.

    What worries me is this, the degree of market manipulation by foreign invstors. But I an neither an economist or market analyst.

    ReplyDelete
  14. " But I an neither an economist or market analyst." And those who are are so often wrong. Kudos on the way you handle the irrational nation

    dmarks: ditto about the gas prices. When a fill up is 200 gallons or 1000 gallons we're talking about a big savings here and so many of the locals make their living in boats. It affects the price of everything.

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  15. Yes, short term the picture looks rosy but long term.....we are now #2. 30 years of supply side economics and the embracing of "free markets" brings us this:

    http://finance.yahoo.com/news/official-america-now-no-2-150936444.html?soc_src=mediacontentstory&soc_trk=fb

    ReplyDelete
    Replies
    1. Looks like the result of not having markets that are free enough.

      Delete
    2. Thus then dmarks you are arguing that China, as its economy has skyrocketed, has more freer markets?

      Delete
    3. No, I am not arguing that at all.

      But I am arguing that not embracing free markets enough has diminished the US economy.

      Delete
    4. Dmarks, and I would argue that "free markets" do not exist unless they are fair and equal markets. the reality is that China has grown dramatically economically and has done so due to lower labor costs and some really shady business practices.

      According to the Heritage Foundation we fall in the "Mostly Free" category and what holds us back is government spending. Which considering that our economic system has to support a world class military industrial complex there really isn't much going to change.

      Delete
  16. I think the reality is we have not had a "free" market since regulation began in earnest under Theodore Roosevelt and anti trust. Regulation has steadily increased since.

    Unfortunately our mixed economy is a helter skelter mix of regulation and laws that tilt towards special interests. No longer is the focus on creating and maintaining a strong growing middle class. Ayn Rand talked about LONG TERM RATIONAL SELF INTEREST. Either the concept is grossly misunderstood or American business and government is only interested in short term. I guess that would be "We the People".

    Yup #2. "Three Billion New Capitalists", we were forewarned.

    Time for a beer.

    ReplyDelete
  17. I have been inlisted to a couple of digital forums run by local news service. A whole buncha 'Chucks'....spout a bunch of unsubstantiated,unfounded, undocumented bullshit.....and then challenge one to refute their crap with 'facts'. Les, you most obviously stated your documentation and Chuck skimmed right by that. I am so tired Chuck Fucks......no beer for me...Packers play tomorrow......gotzta pace myself.

    ReplyDelete

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