Black unemployment rate hits new record low in May

[–] ScorpioGlitch 4 points (+4|-0)

Unemployment in general is the lowest it's been in 18 years. I prefer to stay out of political discussions in general but I would like to know how the never-Trump folks are reconciling this with their own internal beliefs and past statements.

[–] PhunkyPlatypus 3 points (+3|-0)

The unemployment rate is continuing to follow the trend that started long before Trump was even nominated. Praising him for this is akin to blaming Obama for the 08 recession. The president has very little control over the economy. Unless there's tariffs and shit involved.

[–] ScorpioGlitch 1 points (+1|-0)

How long is that "trend" going to last? How long does it have to go until it's no longer "Obama's legacy"? I suspect it's either an even 4 or 8 years. This is the kind of inability to reconcile that I was wondering about.

[–] InnocentBystander 0 points (+0|-0)

akin to blaming Obama for the 08 recession

I do. He didn't start the problem, but he didn't stop it either.
I blame him, Bush, and Clinton for that. It took all three of them ignoring the warning signs, to allow that collapse.

The president has very little control over the economy

That may be generally true, but the president can exert direct control over the economy. And many of his mundane actions will influence the economy.

[–] PhunkyPlatypus 1 points (+2|-1)

So... you expect him to start in on preventing the recession while he's still figuring out his way around the white house? I've certainly heard a lot of excuses last year about why Trump hadn't done a damn thing for the first six months.

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[–] CDanger 0 points (+0|-0)

They're reconciling it just fine. That is what people do. If the economy were falling apart and were a complete disaster, the Trump supporters would reconcile it just fine as well.

[–] Sarcastaway 2 points (+2|-0)

While any drop in the rate of unemployment is good news, it should be noted that the BLS only accounts for people actively seeking employment. 5.9% unemployment doesn't mean that 94.1% of that group have jobs. In fact, a drop in unemployment could represent no increase in jobs, rather a decrease in people getting an education. It could also represent an increase in people giving up on finding a job, and those replying on public assistance to get by.

According the the BLS definition, if you have not applied for a job in the last 4 weeks, you are not unemployed. So if you have a job that gives you 10 hours of work per week, and want more hours, but you haven't applied for another job in the last 4 weeks, you are not counted as unemployed. Another example is a part-time student who has not applied for a full time job in those 4 weeks.

In short, unemployment is a poor measure of the job market, and a lagging indicator of the country's economic health. It is a good measure of the average success rate of getting a job during a 4 week period of application.

Black unemployment rate hits new record low in May

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