US ECONOMY News and Discussion Thread

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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Wed Aug 08, 2018 4:04 pm

Buc2 wrote:
RedLeader wrote:US job openings hit 17-year high

Job openings in the U.S. reached a 17-year high this spring, with the number of available jobs outstripping the jobless by almost 100,000 in June, Labor Department data show. While economic expansion amid historically low unemployment is creating gaps across industries, the data show the need is most acute in transportation, retail and business services:

>> Transportation, warehousing and utilities jobs jumped by 58% in the second quarter, to almost 300,000.
>> Retail jobs, whose demise has been exaggerated in the press, according to one industry analyst, increased by more than 25% — with wages rising faster than average.
>> Business services had almost 130,000 unfilled jobs, led by human resources as companies hire recruiters and use more tech to find workers.

As soon as the companies that need people bad enough that they increase their starting wage to a level that is more attractive to job seekers, the sooner they'll fill those positions.

Absolutely correct.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed Aug 08, 2018 4:29 pm

Buc2 wrote:
RedLeader wrote:US job openings hit 17-year high

Job openings in the U.S. reached a 17-year high this spring, with the number of available jobs outstripping the jobless by almost 100,000 in June, Labor Department data show. While economic expansion amid historically low unemployment is creating gaps across industries, the data show the need is most acute in transportation, retail and business services:

>> Transportation, warehousing and utilities jobs jumped by 58% in the second quarter, to almost 300,000.
>> Retail jobs, whose demise has been exaggerated in the press, according to one industry analyst, increased by more than 25% — with wages rising faster than average.
>> Business services had almost 130,000 unfilled jobs, led by human resources as companies hire recruiters and use more tech to find workers.


As soon as the companies that need people bad enough that they increase their starting wage to a level that is more attractive to job seekers, the sooner they'll fill those positions.



Are you suggesting that there are people out there that need a job but rather stay unemployed until the 'starting wage' is just right?


Hmmmmmm....
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Re: US ECONOMY News and Discussion Thread

Postby bucfanclw » Wed Aug 08, 2018 4:52 pm

RedLeader wrote:
Buc2 wrote:
As soon as the companies that need people bad enough that they increase their starting wage to a level that is more attractive to job seekers, the sooner they'll fill those positions.



Are you suggesting that there are people out there that need a job but rather stay unemployed until the 'starting wage' is just right?


Hmmmmmm....

Would that be a bad thing?
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed Aug 08, 2018 8:36 pm

bucfanclw wrote:
RedLeader wrote:

Are you suggesting that there are people out there that need a job but rather stay unemployed until the 'starting wage' is just right?


Hmmmmmm....


Would that be a bad thing?



Yes. In most cases, completely removing yourself from the workforce and doing nothing while simply 'waiting' for wages to go up is a bad thing, imo.


Thankfully, wage growth has been getting stronger this last year, so hopefully not a distinction you have to make for much longer. ;)
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Re: US ECONOMY News and Discussion Thread

Postby The Outsider » Wed Aug 08, 2018 9:07 pm

RedLeader wrote:
bucfanclw wrote:
Would that be a bad thing?



Yes. In most cases, completely removing yourself from the workforce and doing nothing while simply 'waiting' for wages to go up is a bad thing, imo.


Thankfully, wage growth has been getting stronger this last year, so hopefully not a distinction you have to make for much longer. ;)


A lot of people can make better than minimum wage just doing freelance work or what would essentially be considered side jobs.
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Re: US ECONOMY News and Discussion Thread

Postby bucfanclw » Wed Aug 08, 2018 9:24 pm

RedLeader wrote:
bucfanclw wrote:
Would that be a bad thing?



Yes. In most cases, completely removing yourself from the workforce and doing nothing while simply 'waiting' for wages to go up is a bad thing, imo.


Thankfully, wage growth has been getting stronger this last year, so hopefully not a distinction you have to make for much longer. ;)

If I walked into a Ferrari dealership and offered them $1000 cash for an Enzo, should they just take the offer to avoid going without that income, or wait until someone else is willing to pay their asking price?

In your effort to trash the unemployed, you positioned yourself against free market capitalism.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed Aug 08, 2018 9:52 pm

bucfanclw wrote:
RedLeader wrote:

Yes. In most cases, completely removing yourself from the workforce and doing nothing while simply 'waiting' for wages to go up is a bad thing, imo.


Thankfully, wage growth has been getting stronger this last year, so hopefully not a distinction you have to make for much longer. ;)

If I walked into a Ferrari dealership and offered them $1000 cash for an Enzo, should they just take the offer to avoid going without that income, or wait until someone else is willing to pay their asking price?

In your effort to trash the unemployed, you positioned yourself against free market capitalism.


Let me make sure I’m understanding your question. .

By comparison, using your example, if the known going rate for your position in the job market is, say, $60,000 a year, and an employer instead offers you $20.00 in annual salary (using your figures here).. you’re seriously asking whether they should take it, and are using that as your argument for free market capitalism?



Did i get that straight?

























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Re: US ECONOMY News and Discussion Thread

Postby bucfanclw » Wed Aug 08, 2018 9:58 pm

So once again, if the employer gives an insulting offer, are you suggesting the potential employee just take it anyways to avoid being unemployed?
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed Aug 08, 2018 10:21 pm

bucfanclw wrote:So once again, if the employer gives an insulting offer, are you suggesting the potential employee just take it anyways to avoid being unemployed?


Go to bed, dude. Get some rest and try again tomorrow.


Lol.
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Re: US ECONOMY News and Discussion Thread

Postby bucfanclw » Wed Aug 08, 2018 10:30 pm

Yeah, I'll just stick this episode of "RL reveals communist beliefs" in my back pocket.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed Aug 08, 2018 10:37 pm

bucfanclw wrote:Yeah, I'll just stick this episode of "RL reveals communist beliefs" in my back pocket.


Yes. You definitely got me with your well thought out arguments and sound logic.


You can sleep soundly now, chappy.


Nighty night. Lol.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Wed Aug 08, 2018 11:26 pm

Woosh!
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Thu Aug 09, 2018 1:16 am

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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Fri Aug 10, 2018 1:35 pm

US inflation increases most in decade


U.S. consumer prices jumped 2.4% in July, their biggest annual increase since before the financial crisis hit with force in September 2008. The increase in the government's core index outran wages, which fell 0.2% from a year ago. The Labor Department Friday report reinforces expectations for the Federal Reserve to continue raising interest rates to limit inflation.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Sat Aug 11, 2018 7:55 pm

Global economy: Good news, and bad

All over the world, poverty is on the decline, with those living on less than $5.50 a day going from two thirds to less than half the world population, Axios reports.

At the same time, income inequality is up and social mobility is down. Since 1980, the world’s wealthiest 1% achieved twice the economic growth as the bottom 50%, according to the World Inequality Lab.

What might help? Giving employees a stake in the companies they work for, Oliver Wyman’s Peter Walsh argues. In addition to offering an additional source of wealth for workers, firms with employee ownership arrangements are more stable during downturns and more productive overall.

------------
Makes sense . Having worked at a few startups, I can say that having a stake in the company and the outcome is certainly a motivator.

Likewise, any business that offers any kind of residuals as part of the compensation...
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Sat Aug 11, 2018 8:01 pm

Sounds like socialism to me.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Sat Aug 11, 2018 8:15 pm

Mountaineer Buc wrote:Sounds like socialism to me.




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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Sat Aug 11, 2018 8:36 pm

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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed Aug 15, 2018 11:30 am

Credit scores for millions just rose


Credit scores bumped up for millions of U.S. consumers after reporting firms such as Equifax began stripping out some non-loan collections accounts and other negative credit information. After completely removing collections from 8 million credit reports, scores rose an average 14 points in the year to June, according to the New York Federal Reserve.

The removal of the collections accounts, along with some tax-lien and civil-judgment data, followed settlements with state attorneys general dating back to 2015.

The negative credit information — including medical-debt collections that have been paid by an insurance company — can be inaccurate or fail to reflect repayment efforts.



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Re: US ECONOMY News and Discussion Thread

Postby Babeinbucland » Wed Aug 15, 2018 11:38 am

Hell, just removing Manafort’s defaults alone changed it
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Re: US ECONOMY News and Discussion Thread

Postby Babeinbucland » Wed Aug 15, 2018 12:01 pm

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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Wed Aug 15, 2018 4:13 pm

Retail sales go 'pop' in July


U.S. retail sales outran expectations in July, rising 0.5% from June instead of the 0.1% forecast by economists. Consumer and business optimism are driving purchases, even as faster inflation erodes already lackluster wage gains. Also buoying July sales: Amazon’s Prime Day promotion, estimated to have raked in $2.7 billion in the U.S. alone.
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Re: US ECONOMY News and Discussion Thread

Postby Buc2 » Thu Aug 16, 2018 7:39 am

RedLeader wrote:Credit scores for millions just rose


Credit scores bumped up for millions of U.S. consumers after reporting firms such as Equifax began stripping out some non-loan collections accounts and other negative credit information. After completely removing collections from 8 million credit reports, scores rose an average 14 points in the year to June, according to the New York Federal Reserve.

The removal of the collections accounts, along with some tax-lien and civil-judgment data, followed settlements with state attorneys general dating back to 2015.

The negative credit information — including medical-debt collections that have been paid by an insurance company — can be inaccurate or fail to reflect repayment efforts.



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I just received a refund check from Citi. Seems they do bi-annual audits of the card members and determined my rate should have been lower than it was. So, I not only had my rate lowered, but got a refund for overcharged interest to boot. I've never had that happen before.
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Re: US ECONOMY News and Discussion Thread

Postby Zarniwoop » Thu Aug 16, 2018 8:01 am

That’s awfully nice of them, if I was running Citi I wouldn’t do it
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Re: US ECONOMY News and Discussion Thread

Postby Buc2 » Thu Aug 16, 2018 8:51 am

Zarniwoop wrote:That’s awfully nice of them, if I was running Citi I wouldn’t do it

Believe me, neither action was something I would have ever expected from them. I'm not going to complain, though. The refund wasn't much, but then, I don't use that card much. But the rate change was a good 5 point decrease.
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Re: US ECONOMY News and Discussion Thread

Postby bucfanclw » Thu Aug 16, 2018 10:12 am

Buc2 wrote:
Zarniwoop wrote:That’s awfully nice of them, if I was running Citi I wouldn’t do it

Believe me, neither action was something I would have ever expected from them. I'm not going to complain, though. The refund wasn't much, but then, I don't use that card much. But the rate change was a good 5 point decrease.

And if you ever worked in a bank, you would know that was the driving force for them. They weren't making enough money off you so they're trying to entice you into using their card more to get some cycling debt going. Banks hate people that pay off their card every month.
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Re: US ECONOMY News and Discussion Thread

Postby Buc2 » Thu Aug 16, 2018 10:26 am

bucfanclw wrote:
Buc2 wrote:Believe me, neither action was something I would have ever expected from them. I'm not going to complain, though. The refund wasn't much, but then, I don't use that card much. But the rate change was a good 5 point decrease.

And if you ever worked in a bank, you would know that was the driving force for them. They weren't making enough money off you so they're trying to entice you into using their card more to get some cycling debt going. Banks hate people that pay off their card every month.

Yeah...that did enter my mind. Still, despite that being the case at different points in the past, I never received such "inducements" to use their card before. Regardless, it won't make any difference in my spend habits.
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Re: US ECONOMY News and Discussion Thread

Postby SDBucs » Fri Aug 17, 2018 12:01 am

Babeinbucland wrote:Image


But you support continued immigration here, right?

Do you understand the effect immigration has on the labor market and wages?

Why should a company pay you more if it can just choose someone else for less?

What happens when the potential for a company to choose someone else for less becomes limited? (hint: requires low unemployment and low population growth)

Oh, the company needs to pay you more since it needs the job filled and there's nobody else?

A perfect, real world example of this, one I've heard from 3 different liberal friends, is "oh illegals fill jobs Americans don't want"

They fill jobs Americans don't want, AT THAT WAGE. Cut out the illegal and GUESS WHAT? The company HAS to raise wages to fill the position because nobody will take the job at current wages.

If you liberals are going to moan about stagnant wages, open your eyes to the main offender, ironically one of the biggest things you fight FOR: Immigration.

Or shut the **** up.

If you are mad about stagnant wages but unwilling to go after our immigration levels then it's my understanding that you DON'T want a solution, you just need something to complain about. If so, kindly shut the **** up.
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Re: US ECONOMY News and Discussion Thread

Postby Mountaineer Buc » Fri Aug 17, 2018 7:44 am

SDBucs wrote:
Babeinbucland wrote:Image


But you support continued immigration here, right?

Do you understand the effect immigration has on the labor market and wages?

Why should a company pay you more if it can just choose someone else for less?

What happens when the potential for a company to choose someone else for less becomes limited? (hint: requires low unemployment and low population growth)

Oh, the company needs to pay you more since it needs the job filled and there's nobody else?

A perfect, real world example of this, one I've heard from 3 different liberal friends, is "oh illegals fill jobs Americans don't want"

They fill jobs Americans don't want, AT THAT WAGE. Cut out the illegal and GUESS WHAT? The company HAS to raise wages to fill the position because nobody will take the job at current wages.

If you liberals are going to moan about stagnant wages, open your eyes to the main offender, ironically one of the biggest things you fight FOR: Immigration.

Or shut the **** up.

If you are mad about stagnant wages but unwilling to go after our immigration levels then it's my understanding that you DON'T want a solution, you just need something to complain about. If so, kindly shut the **** up.

You have no clue what you are talking about. Shut the **** up.
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Re: US ECONOMY News and Discussion Thread

Postby RedLeader » Fri Aug 17, 2018 11:24 am

Youth unemployment lowest in decades


The unemployment rate in the U.S. for people between the ages of 16 and 24 years fell to its lowest level since July 1966, the Labor Department said. Of people in that age group actively looking for work, 9.2% were unemployed in July. Low unemployment among America's youths shows more jobs are opening up for them as the U.S. labor market grows tighter, according to The Wall Street Journal.


A decline in labor participation among that age group to 60.6%, from 77.5% in 1989, may stem from growth in extracurricular activities and unpaid internships, the report said.
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