… lowest jobless applications in 42 years’? How’d that happen?

(AP)

From The Associated Press:

“WASHINGTON (AP) — The number of people seeking U.S. unemployment aid plunged last week to the lowest level in nearly 42 years, evidence that employers are holding onto their staffs and likely hiring at a steady pace…..

Weekly applications for unemployment benefits fell 26,000 to 255,000, the lowest level since November 1973, the Labor Department said Thursday. If the data were adjusted for the growth of the U.S. population since then, last week’s figure would likely be an all-time low…

With layoffs down, employers are also hiring more to meet greater demand for their goods and services. The economy added 223,000 jobs in June, and the unemployment rate fell to a seven-year low of 5.3 percent.

The economy has gained nearly 3 million jobs in the past year. With that many more people earning paychecks, economists forecast that spending should pick up and help fuel growth for the rest of this year.”

” … lowest level in nearly 42 years” is a long time. We’ve also had 64 straight months of job growth, another large number and a record long stretch. And if you judge by Republican rhetoric, none of this can be happening. Between ObamaCare, slightly higher taxes on the richest of Americans and an EPA that actually attempts to protect the environment and address issues such as climate change, the national economy ought to be a smoldering pile of rubble about now.

Yet it is not. Once again, everything they predicted has proved wrong. Funny how often that happens.

Reader Comments 0

993 comments
lvg
lvg

Implosion of GOP continues. Mark Meadows leads charge of teahadists to unseat Boehner. McConnell and Cruz finish a mud pie fight.  Koch boys calling their hand picked candidates to California to figure out how to stop big mouth Trump and all his money. Time for Cheney to jump in and call Obama some names to get things back on track.

lvg
lvg

Imposter!

Gmare
Gmare

Very interesting, Corey. Thanks.

Corey
Corey

The riot occurred in the racially and politically tense atmosphere of post-World War I northeastern Oklahoma. The territory, which was declared a state on November 16, 1907, had received many settlers from the South who had been slaveholders before the American Civil War. In the early 20th century, lynchings were common in Oklahoma, as part of a continuing effort by whites to assert and maintain white supremacy. Between the declaration of statehood and the Tulsa race riot 13 years later, 31 persons were lynched in Oklahoma; 26 were black and nearly all were men and boys. During the twenty years following the riot, the number of lynchings statewide fell to two.[5]

The newly created state legislature passed racial segregation laws, commonly known as Jim Crow laws, as one of its first orders of business. Its 1907 constitution and laws had voter registration rules that disfranchised most blacks; this also barred them from serving on juries or in local office, a situation that lasted until the federal Voting Rights Act of 1965, part of civil rights legislation passed by the U.S. Congress. Major cities passed their own restrictions.[2]

On August 16, 1916, Tulsa passed an ordinance forbidding blacks or whites from residing on any block where three-fourths or more of the residents were of the other race. This made residential segregation mandatory in the city. Although the United States Supreme Court declared the ordinance unconstitutional the next year, it remained on the books.[2]

Corey
Corey

The Tulsa race riot was a large-scale, racially motivated conflict on May 31 and June 1, 1921, in which a group of whites attacked the black community of Tulsa, Oklahoma. It resulted in the Greenwood District, also known as 'the Black Wall Street'[1] and the wealthiest black community in the United States, being burned to the ground.

During the 16 hours of the assault, more than 800 people were admitted to local white hospitals with injuries (the two black hospitals were burned down), and police arrested and detained more than 6,000 black Greenwood residents at three local facilities.[2]:108–109 An estimated 10,000 blacks were left homeless, and 35 city blocks composed of 1,256 residences were destroyed by fire. The official count of the dead by the Oklahoma Department of Vital Statistics was 39, but other estimates of black fatalities vary from 55 to about 300.[2]:108, 228 [3]

The events of the riot were long omitted from local and state histories. "The Tulsa race riot of 1921 was rarely mentioned in history books, classrooms or even in private. Blacks and whites alike grew into middle age unaware of what had taken place."[4] With the number of survivors declining, in 1996, the state legislature commissioned a report to establish the historical record of the events, and acknowledge the victims and damages to the black community. Released in 2001, the report included the commission's recommendations for some compensatory actions, most of which were not implemented by the state and city governments. The state passed legislation to establish some scholarships for descendants of survivors, economic development of Greenwood, and a memorial park to the victims in Tulsa. The latter was dedicated in 2010.

Visual_Cortex
Visual_Cortex

I think I'll leave for awhile on this cheery note.


http://www.ibtimes.com/private-tech-firms-securus-gtl-offer-jails-million-dollar-payments-tablet-computers-2003383


While it may seem odd that a private company is allowed to offer cash to a public entity in exchange for their business, prison reform advocates aren't too surprised. 

Paul Wright, executive director of the Human Rights Defense Center and a vocal critic of the prison phone business, says these sorts of payments -- which he compares to bribes -- are par for the course. 

This goes to show what a dysfunctional and perverse market this is,” Wright says. “Prisoners and families are viewed as money machines. It's a total abdication of public duty by the people running these facilities.”

As IBTimes reported last week, the prison phone business has long been characterized by monopolistic relationships between private companies and public jails, and exorbitant rates and fees charged to families. With about 2.2 million inmates locked up, the industry has grown to a $1.2 billion yearly business for the companies that provide the service


Freedom!

honested
honested

@Visual_Cortex 

Well, the owners of tenant farmland, mining towns, factory towns, all the entities that made a big part of their 'real money' double dipping on the backs of their laborers must have gone into the prison bidness.

No wonder we have so many idiotic laws that are attached to prison time.

dbm1
dbm1

@Visual_Cortex 

This sort of thing can only happen with the active collusion of government.


Drive-by.

Surelyyoujest
Surelyyoujest

"How'd that happen"?  It's called economics 101, how to cook the books to make them say what you want them to say - see Lehman Brothers and AIG as examples 1 and 1A, then see Fannie and Freddie as examples 1B and 1C; then the employment rate as it is depicted as Obuma dictates it to be "presented"....

KUTGF
KUTGF

@Surelyyoujest  With cooking like that.... don't forget to save the liver  --  Thomas "Julia Childs" Jefferson

honested
honested

@Surelyyoujest 

So, if your example were even remotely correct, we can add 'terrible at cooking the books' to shrub's vast resume'.

Surelyyoujest
Surelyyoujest

Keep drinkin' the kool-aid, Mr. Bookman.....

Surelyyoujest
Surelyyoujest

As stated previously, these things run in cycles depending upon prior objectives of fiscal policy - I pity the next POTUS, Dem or GOP - that person is gonna get killed when the system swoons to new lows in 2017 - 2020.

Visual_Cortex
Visual_Cortex

@Surelyyoujest

I pity the next POTUS, Dem or GOP - that person is gonna get killed when the system swoons to new lows in 2017 - 2020

Not sure what would be meant by "new lows"--one would hope the next recession isn't as horrific as the last one. But otherwise? True enough.

Hedley_Lammar
Hedley_Lammar

@LeninTime @Hedley_Lammar The link is a real link


Yes it is


The circumstances described are actually happening.


Yes they are making predictions as well. Just like you. 

Hedley_Lammar
Hedley_Lammar

@LeninTime @Hedley_Lammar Not so much predictions as interpretations.


Play with semantics if you wish. They are just guessing as are you. 


I've noticed your guesses are always of the doom and gloom variety. Which leads me to believe they are really just wishful thinking. 

KUTGF
KUTGF

The Republican Party’s image has grown more negative over the first half of this year. Currently, 32% have a favorable impression of the Republican Party, while 60% have an unfavorable view. Favorable views of the GOP have fallen nine percentage points since January. The Democratic Party continues to have mixed ratings (48% favorable, 47% unfavorable).  ... As has been the case over the past four years, the Republican Party is viewed as more extreme in its positions than the Democratic Party. Currently, 52% say the GOP is more extreme, compared with 35% who say this better describes the Democratic Party.

The Democratic Party continues to hold wide advantages over the Republicans on empathy and honesty. By 53% to 31%, the Democratic Party is viewed as “more concerned with the needs of people like me.” And the Democrats hold a 16-point lead on governing in an honest and ethical way (45% to 29%). ... The Democratic Party’s advantage on abortion and contraception has increased 16 points since February; currently 50% say Democrats could do the better job dealing with policies on abortion and contraception, while just 31% say the GOP could.

http://www.people-press.org/2015/07/23/gops-favorability-rating-takes-a-negative-turn/

_________________________


The predictions of doom and gloom for the Dems may have to discuss with Karl Rove


Visual_Cortex
Visual_Cortex

Here's an "ugly truth, hard to confront but we really gotta, 'specially those folks who live Down Here" kinda piece. Heard the author interviewed on the Majority Report podcast yesterday.


http://prospect.org/article/how-american-south-drives-low-wage-economy


IN THE SPRING OF 2011, the Boston Consulting Group made a bold prediction: Manufacturing, which had been fleeing American shores for years, particularly to China, was going to come back. “China’s rising manufacturing costs will significantly erode [the] savings” that U.S. companies had realized by having their products assembled there, three of the firm’s partners wrote in a widely publicized study. The advantages of offshoring would wane, and American manufacturing would rise again.

The numbers that the authors adduced certainly made their claim seem plausible. As their wages continued to increase, Chinese factory workers, whose pay, adjusted for the productivity differences between China and the United States, came to just 23 percent of their American counterparts’ in 2000, had already seen that figure grow to 31 percent in 2010, and it would likely increase to 44 percent in 2015. More revealing still, however, was the authors’ comparison between factory workers in one particular region of China and one particular region of the U.S. In 2000, they showed, factory workers in and around Shanghai already made 36 percent of the productivity-adjusted pay of workers in Mississippi—a figure that rose to 48 percent in 2010 and that they projected to grow to 69 percent in 2015.

[...]

when BCG produced a fuller version of its study a few months later, all mention of Mississippi had vanished. But BCG’s focus merely crossed some state lines. “When all costs are taken into account,” the authors wrote, “certain U.S. states, such as South Carolina, Alabama, and Tennessee, will turn out to be among the least expensive production sites in the industrialized world.”


ok, so is the point getting through, here? We're at the stage where we're reduced to competing with China for foreign manufacturing investment because our labor costs, in certain ex-slave states, is so very very low that we're BEATING CHINA.


You happy with that? You shouldn't be. 

LeninTime
LeninTime

@Visual_Cortex 

ok, so is the point getting through, here? We're at the stage where we're reduced to competing with China for foreign manufacturing investment because our labor costs, in certain ex-slave states, is so very very low that we're BEATING CHINA.

***
Well, how does that joke go? Thanks Obama.

Visual_Cortex
Visual_Cortex

So's this gonna be where we discuss the ugly political stuff, and upstairs we'll ease back over a few figurative (virtual?) cold ones?

Because that's worked out agreeably in the past.

Downstairs for the aggro; upstairs for the party.

KUTGF
KUTGF

Two sheriff’s deputies patrolling Seattle’s transit system lied about a bus driver’s use of profanity during a heated argument last November captured by a camera embedded in the driver’s eyeglasses, a police investigation has found.

The incident comes as the public view of police across the nation is “laced with distrust,” Transit Police Major Dave Jutilla wrote in a May 26 memo, obtained through a public-records request, that summarizes the incident. http://www.rawstory.com/2015/07/seattle-bus-drivers-eyeglasses-camera-reveals-deputies-lied-now-they-face-discipline-instead-of-him/

____________________________ 


More evidence of police lying in police reports.........

Visual_Cortex
Visual_Cortex

anyways, y'all do know there are fishin' sheetz, yes?

fedup52
fedup52

Turkey will finally let us use their air base for our planes.  It is about time the Turk rulers realize who their friends are.

DownInAlbany
DownInAlbany


As a bill headed for a vote Thursday in the House that would punish sanctuary cities, both sides of the issue engaged in an all-out war of words.

The bill ended up passing 241-179. It would withhold certain federal law enforcement grants to cities that have policies designed to shelter illegal immigrants from deportation. President Obama has vowed to veto it.


Obama, doubling down on "stupid."

Again

fedup52
fedup52

@DownInAlbany Magot man and other cons are asking for better wages and what the GOP passes BS bills. It should be vetoed.  The children in the House don't understand the priority of this country.

Visual_Cortex
Visual_Cortex

@Maggot_Man @fedup52 @DownInAlbany

And what are the priorities? Give stuff to people?

I'd like to educate more people so they don't grow up believing that the honorable mission of ensuring a dignified standard of living to a nation's citizenry should be reduced, rhetorically, to something as childish as "Giving stuff to people."

I know, crazy talk.

DownInAlbany
DownInAlbany

Chuck Todd:  The more voters see Hillary, the less they like her.

She must have gotten the memo.  It would explain her now-you-see-me-now-you-don't campaign "strategy."

breckenridge
breckenridge

Instead of shooting up a theater, I'd like to see one of these cowards go into a biker bar and open fire.  He'd get off a few rounds before the chains and tire irons and knives and so forth came out to give him what he deserves.

DownInAlbany
DownInAlbany

@breckenridge Gun free zones give these cowards just what they want...innocent people with no means to fight back.

kitty72
kitty72

@DownInAlbany @breckenridge 


He had a gun. How do you know it is a gun free zone? Was that mentioned in any of the coverage? Just asking.


It is a sad thing if we all need guns just to go outside these days. There has to be a better way.