Unemployment rate fell to 4.9% in January

I’ve been waiting to make this thread for quite some time. In fact I assumed that it would have come last year given how 2014 went, but here we are in January 2016 and the unemployment rate has finally dipped into the 4% range. We still need to see some things turn around, payroll increases is a big thing that needs to start increasing, and while we have seen increases more manufacturing jobs is always important, but all in all things are looking up economically for far more people. How are you guys doing? Are you out of college and with a job yet (if you’re in high school/college that’s cool of course)? Personally I’m doing okay as I’ve got a job that pays more than the entry level for my work, but I’m working on further improving my situation with more school (which I’m doing better in than I ever have) and hard work at my job.

Oh, in before someone crying about the U6 numbers which have fallen further than the official U3 numbers throughout the recession.

http://www.nytimes.com/2016/02/06/business/economy/jobs-report-unemployment-january-fed-interest-rates.html

Still, I think it needs to be around 3% or at least that's what I've heard.

i'm sure we'll get the usual spin from both ends of the political spectrum...

personally i'm doing fine. steadily employed for part 14 years

@TheHighWind: Well even in the Clinton years it never hit the 3% range. For a short while in the first year of George W. Bush the economy hit 3.9%,but it's unclear to me that this was something that Bush can really take much credit for as the same time as the next year we were at 5.7%.

This can all be checked on the Bureau of Labor Statistics website.

Dems: It's because of Obama

GOP: It's because of the Congress

@drunk_pi said:Dems: It's because of Obama

GOP: It's because of the Congress

lol well duh! Congress deserves some credit. Admittedly not as much in my mind, due to a good chunk setting themselves up as a legislation blockade for around 7 years.

Ultimately though the fight over who gets credit basically goes to the most recognizable face in government which is always the president. It's also one more petty thing for people to bicker about instead of enjoying the good times should they have the opportunity to to do so.

That number is only the people looking for work not the people who have giving up looking.

"The Labor Department said Friday that ..."

Hah! Can't you find a more credible source than that?

That is the source people officially go by. :|

@magicalclick: you mean the interest rate hike?

@JimB: Yes we know, and 90 million people are out of work.

@magicalclick: I know what you said, but it seemed like you meant something else. To my knowledge, other than perhaps various states raising minimum wage there is no impending wage hike required.

Do you mean pay raises in the face of an economy good enough for more people to have options about where they work?

LOL. Good one.

@Serraph105: Don't feed the troll. Stesilus is a major troll and will spin everything negative for the USA.

the U6 is still at 9.9%, that actually seems rather low since it's supposed to include "under-employed" but that might be because that's probably a lot harder to gauge

I live in Greece and only wish to see the rate in sigle digits.

Why would I want to put a negative spin on these numbers? I think it's awesome that so many of the highly-skilled laborers who were laid off in previous years have finally been able to find jobs at Walmart and McDonalds.

:-P

@Stesilaus: Them be important jobs too mate, somebodies got to do it. Although i think they pay way too little money.

I am starting to think the only reason the mods haven't banned you is because they feel sorry for you.

Wal Mart pays 17 an hour, and they are not supposed to pay a lot.

I guess they are all vacation on your dime.

@plageus900: The one near me does, varies.

Do you live in a high income area because I doubt Walmart would want to raise the percentages on retail goods to people who like low prices to accommodate for such a high minimum wage.

@Gaming-Planet: Nope. Just saying some do, look it up. Remember that those dbags don't offer full time. Just saying they pay is 17.

Must be a different position then. I know a lot of retailers will purposely promote you to lower your hours. You seem to make more but you get paid less because less hours. It's a kind way of saying to **** off.

I googled it and apparently it's because the standard of living is higher in these areas.

The store's manager Josh Comer says, "We’re starting out at $17 or more per hour currently here just due to the cost of living here in Williston." (The rapid growth in population means housing development has not caught up, resulting in relatively high rents and housing prices.)

http://finance.yahoo.com/news/high-paying-walmart--why-does-this-store-pay-it-s-employees-more-than--17-an-hour-145151777.html