• "Don't celebrate until unemployment is less than 4%" - Mitt Romney
    28 replies, posted
[QUOTE]Pittsburgh (CNN) - Mitt Romney, slamming President Barack Obama for his performance creating jobs, said Friday any unemployment figure above 4% shouldn't be cause for celebration. Romney's comments came hours after the Labor Department released figures showing hiring slowed in April, and workers dropped out of the labor force at an alarming rate. At the same time, the unemployment rate fell to 8.1%. "Just this morning there was some news that came across the wire that said that the unemployment rate has dropped to 8.1% and normally that would be cause for celebration, but, in fact, anything over 8%, anything near 8%, anything over 4% is not cause for celebration," Romney told a crowd while campaigning in Pittsburgh. America's seasonally adjusted unemployment rate was last below 4% in December 2000, when it stood at 3.9%. That was at the end of President Bill Clinton's second term in office. In October 2004, just before President George W. Bush won re-election, the unemployment rate was 5.5%. Romney went on to point out the statistics on workers who have dropped out of the labor force, saying the rate of people in the workforce reflected a sad reality. At 63.6%, the portion of the working-age population participating in the job market is now at its lowest level since 1981. "The unemployment rate is lower now because not so many people want to work," Romney said. "This is a sad time in America. When people who want work can't find jobs. College kids, kids coming out of college. Surveys said half of the kids coming out of college can't find work or can't find work that's consistent with their skills. This is a time when America wants to have someone who knows what it takes to create jobs and get people working again." Repeating an oft-used campaign line, Romney told the crowd that in order to create jobs, "it helps to have had a job." Romney discussed the plight of taxes on small businesses at the Sauereisen Concrete Company, which has been owned by the same family for three generations. "Right now small business, the top rate they pay is the individual tax rate of 35% and 35% of what they make will go into the government income tax rolls. Then they have the state income tax rolls on top of that," he said. "What's the state tax here in Pennsylvania?" Romney asked, to which a few people responded with 3.07, the state's flat rate income tax and considered low compared to other states. After he heard the number Romney joked, "That .07 gets you doesn't it?" At one point during his campaign rally, Romney was interrupted by a veteran who, among other points, advocated turning a veterans' hospital slated to be shut down into a veterans' university. After a minute of letting the man make his points, Romney interjected, asking if he could finish his stump speech. The candidate eventually allowed the attendee to finish his point.[/QUOTE] Source: [url]http://politicalticker.blogs.cnn.com/2012/05/04/romney-says-no-celebration-until-4-unemployment-rate/[/url] Because the president, whether it's Obama, Romney or God himself, can magically change unemployment!
The best this country has ever seen the employment rate was during WW2 at the high of the war coming out of the depression, and that was when it was around 2%, based on what the history books say. Fuck off Romney.
Isn't anything below like 5% considered really good? I'm trying to recall what my econ teacher said
[QUOTE=InsanePyro;35857433]Isn't anything below like 5% considered really good? I'm trying to recall what my econ teacher said[/QUOTE] My U.S history teacher, retired economist, says that anything below 5% is amazing for a country.
fuck you Mitt Romney unemployment is slowly declining I celebrate when I want
I'll celebrate if it's 30%, if I want. >:U
Whatever shreds of respect I've ever had for Romney is steadily finding its way to the incinerator.
[QUOTE=Flicky;35857536]Whatever shreds of respect I've ever had for Romney is steadily finding its way to the incinerator.[/QUOTE] Surprised anyone has even that much.
There's frictional unemployment, about 4% (so my eco instructor says) I think that is healthy to always exist in an economy. If it drops below that it's bad because it means that employers are desperate to hire people. This guy's pullin' your leg
i'll celebrate when Romney suspends his campaign
I guess we can never celebrate then.
[QUOTE=The Rifleman;35857448]My U.S history teacher, retired economist, says that anything below 5% is amazing for a country.[/QUOTE] Well, usually anything below 5% is considered "full employment" with some economists insisting on only calling 0% full employment. Point being, 4% would be fucking stellar to have, but saying that we can't be happy until we're there is too much.
if romney could have it his way everyone unemployed would work for a tenth of the minimum wage
[QUOTE=rivershark;35857586]There's frictional unemployment, about 4% (so my eco instructor says) I think that is healthy to always exist in an economy. If it drops below that it's bad because it means that employers are desperate to hire people. This guy's pullin' your leg[/QUOTE] [url=http://www.bloomberg.com/news/2012-05-03/fed-s-williams-says-restoring-full-employment-will-take-years.html]As of May 3rd, the natural rate of unemployment is 5.5% [/url] just fyi.
[QUOTE=Jaehead;35857686][url=http://www.bloomberg.com/news/2012-05-03/fed-s-williams-says-restoring-full-employment-will-take-years.html]As of May 3rd, the natural rate of unemployment is 5.5% [/url] just fyi.[/QUOTE] Thanks. I was only...err.... 1.5% off. They get the idea
Someone posted this on facebook, idk how accurate it is, ignore the tool splashmark [IMG]https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash3/543516_435396776488569_196601040368145_1566779_1470721297_n.jpg[/IMG] Modern Republicans make Reagan look like a moderate democrat
[QUOTE=The Baconator;35857870] Modern Republicans make Reagan look like a moderate democrat[/QUOTE] It's these damn "neocons".
Is unemployment really down? I can't find any solid numbers on it. I mean, the unemployment rate isn't incredibly accurate. I can't really find net job growth for states though, even when I google it they generally give me normal job growth without taking into account the increasing workforce.
[QUOTE=yawmwen;35858105]Is unemployment really down? I can't find any solid numbers on it. I mean, the unemployment rate isn't incredibly accurate. I can't really find net job growth for states though, even when I google it they generally give me normal job growth without taking into account the increasing workforce.[/QUOTE] From what I've read, it's gone down a bit, but it's still really bad.
"Hey guys, don't give Obama credit for doing anything until I say so."
[QUOTE=rivershark;35857586]There's frictional unemployment, about 4% (so my eco instructor says) I think that is healthy to always exist in an economy. If it drops below that it's bad because it means that employers are desperate to hire people. This guy's pullin' your leg[/QUOTE] Just wondering, why is that so bad? Much better than most graduates finding it extremely hard to find a job because so many people have degrees now.
[QUOTE=Emperor Scorpious II;35858123]From what I've read, it's gone down a bit, but it's still really bad.[/QUOTE] I know for a fact if you're a migrant worker shit is looking pretty good right now(in Washington). I just got an off/on job at a gooey duck farm that pays 4 times minimum wage. I also know quite a few other places are opening up and increasing wages for migrant or seasonal work. How this translates to other jobs that aren't hard labor, I have no clue.
[QUOTE=TheBassCannon;35858154]Just wondering, why is that so bad? Much better than most graduates finding it extremely hard to find a job because so many people have degrees now.[/QUOTE] In theory, an unemployment rate under the natural rate leads to excessive inflation in the short run.
[QUOTE=The Baconator;35857870]Someone posted this on facebook, idk how accurate it is, ignore the tool splashmark [IMG]https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash3/543516_435396776488569_196601040368145_1566779_1470721297_n.jpg[/IMG] Modern Republicans make Reagan look like a moderate democrat[/QUOTE] also the dot com bubble probably helped with the economy [editline]6th May 2012[/editline] not to pin the success of the 90s wholly on clinton
Though to be fair, Unemployment was 4.5% under Dubya for a good part of 2006, and under 5% for a good solid 3 years.
From what I hear W didn't create many jobs, even if unemployment was rather low.
Meh. The unemployment statistics don't mean a lot too me. The numbers are either fudged a bit to make things seem better or some unemployed are erased from the list, just to be disregarded from the statistics.
Thanks for telling me what to do Romney, I'll make sure to postpone any future partying until you say otherwise.
[img]http://i.imgur.com/Yezsw.png[/img] Huh. [editline]7th May 2012[/editline] That's not a lot of celebrating.
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