"Enormous improvement" in the assessment of the labor market drives consumer confidence "well beyond expectations"

http://mam.econoday.com/byshoweventfull.asp?fid=467263&cust=mam&year=2015&lid=0&prev=/byweek.asp#top

Enormous improvement in the assessment of the current labor market drove the consumer confidence index well beyond expectations, to 101.5 in August for a more than 10 point surge from July. A rare 6.5 percentage point drop to 21.9 percent in those describing jobs as currently hard to get points to outsized gains for the August employment report. This reading will have forecasters scratching their heads. The gain for this reading lifts the present situation component to 115.1 for a more than 11 point increase from July that points to consumer power for August.

The expectations component also shows major strength, up more than 10 points to 92.5. Here the gain reflects improving expectations for the employment outlook were optimists are back out in front of pessimists. The outlook for income also remains positive.

Buying plans, however, are downbeat with fewer planning to buy a vehicle and, in what could be an ominous indication for housing, many fewer planning to buy a house. Inflation expectations are dormant, down 2 tenths to only 4.9 percent which is very low for this reading.

The Yellen Fed has put great emphasis on the importance on consumer confidence readings and this report points to job-driven strength ahead for household spending.

Americans are doing better. It has been slow, but houses are selling, farmers are having bumper crops, and most of all folks have a little extra cash because of fuel prices staying down and perhaps dropping further. Two trillion of wealth just disappeared in the market the last week, but the vast majority of Americans are not in the market, and their world has been getting better.

Anybody think this week could change some things? It's probably politically wise to get this poll out beforehand.

Small biz environment sucks... minority unemployment sucks... stagnant wages... welfare skyrocketing... etc.

But don't let me throw a wrench into your pollyanna rapture. Enjoy comrades.

PkrBum wrote:Anybody think this week could change some things? It's probably politically wise to get this  poll out beforehand.

Small biz environment sucks... minority unemployment sucks... stagnant wages... welfare skyrocketing... etc.

But don't let me throw a wrench into your pollyanna rapture. Enjoy comrades.

You haven't really made a case for anything here, so you clearly haven't thrown a wrench into anything.

Also, you may not realize this but consumer confidence is a data point that is regularly measured every month.  It's amazing that the graph didn't tip you off to that.  So it's not as if this is some sort of "government poll" conveniently released in an attempt to counter anything else.  This is a report produced regularly by a non-profit research organization.

Imagine seeing someone react to the ADP Employment Report and say "Ha!  How convenient!  The government releases fake poll numbers with perfect timing!"  You would conclude that they're a low information voter, right?   The report isn't produced by the government and the timing of the release is the same every time.

It's you... you are the pollyanna that thinks this is significant in the midst of market turmoil around the world.

Get it yet?

Just looking at numbers is one story but the types of job gains is quite another. This country is turning into a service industry economy with major losses in manufacturing jobs. You know, the types of jobs that produce high wages for technically competent middle class workers.

But it's much easier to keep it simple......

PkrBum wrote:It's you... you are the pollyanna that thinks this is significant in the midst of market turmoil around the world.

Get it yet?

I'm more interested in economic fundamentals such as GDP, the labor market, CPI, leading indicators, lagging indicators, consumer confidence, etc. than I am in the daily fluctuations of stock market indices.

But beyond that, your general comment is hilarious coming from a guy who frequents threads about invented email scandals probably more than anyone else on this forum.  Most of your time spent on this forum involves injecting substance-free one-liners into discussions that aren't even rooted in reality or anything materially important, and yet you're going to critique my priorities based on the idea that I posted an economic data point?

I can even put the fictitious email scandals aside and instead simply point to the fact that you created several threads in which you staged an election in an attempt to install a new forum moderator.   Think about that for a second.  You're a middle-aged guy easing your way into old age, you're still subscribed to high-school libertarianism, you can't substantively contribute to this forum in any way, you're so butthurt by that fact that you staged an election, and now you're apparently so lacking in self-awareness that you feel it is I - by virtue of creating this thread about an economic data point that came out today - who is really the guy meddling in the immaterial and petty.

There is a word for that condition: stupid.

gatorfan wrote:Just looking at numbers is one story but the types of job gains is quite another. This country is turning into a service industry economy with major losses in manufacturing jobs. You know, the types of jobs that produce high wages for technically competent middle class workers.

But it's much easier to keep it simple......

Manufacturing jobs aren't coming back. Automation/3D printing is the future.

If we're going to start calling for a return of manufacturing jobs, why not also for horse and buggy operators or elevator operators? Why not go back to calling human operators in order to connect callers? Let's bring back travel agents. Just think of all of the jobs we would create! Let's get rid of air-conditioning and replace it with hand delivered, massive blocks of ice and then have people who stand around and fan the room.

"invented" lol... I couldn't read your dribble past that. Independent inspector generals invent evidence I guess.

What a partisan hack.

by 2seaoat Today at 3:09 pm
Americans are doing better.
-----
Is that why record numbers of Americans are on public assistance?

Obamasucks wrote:by 2seaoat Today at 3:09 pm
Americans are doing better.
-----
Is that why record numbers of Americans are on public assistance?

No.  This is why.

PkrBum wrote:"invented" lol... I couldn't read your dribble past that.

Probably a good decision.  The rest of my post would have re-opened a wound for you.  

As a side note, you could probably do a better job of sheltering your fragile worldview here, election-boy:

http://pensacoladaily.forumotion.com/login

It's the perfect place for incompetent douchebags with worldviews that can only exist in uncontested vacuums, so it is perfectly tailored for your personality.

boards of FL wrote:

gatorfan wrote:Just looking at numbers is one story but the types of job gains is quite another. This country is turning into a service industry economy with major losses in manufacturing jobs. You know, the types of jobs that produce high wages for technically competent middle class workers.

But it's much easier to keep it simple......

Manufacturing jobs aren't coming back.  Automation/3D printing is the future.  

If we're going to start calling for a return of manufacturing jobs, why not also for horse and buggy operators or elevator operators?  Why not go back to calling human operators in order to connect callers?  Let's bring back travel agents.  Just think of all of the jobs we would create!  Let's get rid of air-conditioning and replace it with hand delivered, massive blocks of ice and then have people who stand around and fan the room.

Now that's funny, I don't care who you are.... Been reading Popular Mechanics again?

You obviously don't understand "manufacturing" - you should probably stick to your sad little cherry picked numbers game.

boards of FL wrote:

PkrBum wrote:"invented" lol... I couldn't read your dribble past that.

Probably a good decision.  The rest of my post would have re-opened a wound for you.  

As a side note, you could probably do a better job of sheltering your fragile worldview here, election-boy:

http://pensacoladaily.forumotion.com/login

It's the perfect place for incompetent douchebags with worldviews that can only exist in uncontested vacuums, so it is perfectly tailored for your personality.

Maybe you should save your myopic partisan delusion for the last sentence? Just a suggestion pollyanna.

gatorfan wrote:

boards of FL wrote:

gatorfan wrote:Just looking at numbers is one story but the types of job gains is quite another. This country is turning into a service industry economy with major losses in manufacturing jobs. You know, the types of jobs that produce high wages for technically competent middle class workers.

But it's much easier to keep it simple......

Manufacturing jobs aren't coming back.  Automation/3D printing is the future.  

If we're going to start calling for a return of manufacturing jobs, why not also for horse and buggy operators or elevator operators?  Why not go back to calling human operators in order to connect callers?  Let's bring back travel agents.  Just think of all of the jobs we would create!  Let's get rid of air-conditioning and replace it with hand delivered, massive blocks of ice and then have people who stand around and fan the room.

Now that's funny, I don't care who you are.... Been reading Popular Mechanics again?

You obviously don't understand "manufacturing" - you should probably stick to your sad little cherry picked numbers game.

I understand manufacturing just fine; hence why I correctly point out that it isn't coming back.  Nor are travel agents, telephone operators, horse and buggy operators, etc.  

This chart depicts manufacturing jobs as a % of all jobs.   Notice how manufacturing declines under Truman, Eisenhower, Kennedy, Johnson, Nixon, Ford, Carter, Reagan, Bush, Clinton, Bush, and Obama.  I think the key here is that it really doesn't matter which party holds the presidency or what policy is taken, manufacturing isn't coming back.  

Those jobs were at first being outsourced and are now being automated almost entirely.  Eventually 3D printers will be the norm and hardly anyone will work in manufacturing.

Nevertheless, republicans will continue employing the strategy of cornering the market on low information voters and will continue to say things like "Elect me!  I'll bring the manufacturing jobs back!", and then people like you will sprint to the voting booth.

boards of FL wrote:

gatorfan wrote:

boards of FL wrote:

gatorfan wrote:Just looking at numbers is one story but the types of job gains is quite another. This country is turning into a service industry economy with major losses in manufacturing jobs. You know, the types of jobs that produce high wages for technically competent middle class workers.

But it's much easier to keep it simple......

Manufacturing jobs aren't coming back.  Automation/3D printing is the future.  

If we're going to start calling for a return of manufacturing jobs, why not also for horse and buggy operators or elevator operators?  Why not go back to calling human operators in order to connect callers?  Let's bring back travel agents.  Just think of all of the jobs we would create!  Let's get rid of air-conditioning and replace it with hand delivered, massive blocks of ice and then have people who stand around and fan the room.

Now that's funny, I don't care who you are.... Been reading Popular Mechanics again?

You obviously don't understand "manufacturing" - you should probably stick to your sad little cherry picked numbers game.

Those jobs were at first being outsourced and are now being automated almost entirely.  Eventually 3D printers will be the norm and hardly anyone will work in manufacturing.

Thanks for confirming the fact you have no clue what "manufacturing" really is. While we're at it why is Obama pushing so hard to create "manufacturing" jobs? He understands the concept.

gatorfan wrote:

boards of FL wrote:

gatorfan wrote:

boards of FL wrote:

gatorfan wrote:Just looking at numbers is one story but the types of job gains is quite another. This country is turning into a service industry economy with major losses in manufacturing jobs. You know, the types of jobs that produce high wages for technically competent middle class workers.

But it's much easier to keep it simple......

Manufacturing jobs aren't coming back.  Automation/3D printing is the future.  

If we're going to start calling for a return of manufacturing jobs, why not also for horse and buggy operators or elevator operators?  Why not go back to calling human operators in order to connect callers?  Let's bring back travel agents.  Just think of all of the jobs we would create!  Let's get rid of air-conditioning and replace it with hand delivered, massive blocks of ice and then have people who stand around and fan the room.

Now that's funny, I don't care who you are.... Been reading Popular Mechanics again?

You obviously don't understand "manufacturing" - you should probably stick to your sad little cherry picked numbers game.

Those jobs were at first being outsourced and are now being automated almost entirely.  Eventually 3D printers will be the norm and hardly anyone will work in manufacturing.

Thanks for confirming the fact you have no clue what "manufacturing" really is. While we're at it why is Obama pushing so hard to create "manufacturing" jobs? He understands the concept.

One more time for gatorfan.

This chart depicts manufacturing jobs as a % of all jobs.   Notice how manufacturing declines under Truman, Eisenhower, Kennedy, Johnson, Nixon, Ford, Carter, Reagan, Bush, Clinton, Bush, and Obama.  I think the key here is that it really doesn't matter which party holds the presidency or what policy is taken, manufacturing isn't coming back.  

PkrBum wrote:

boards of FL wrote:

PkrBum wrote:"invented" lol... I couldn't read your dribble past that.

Probably a good decision.  The rest of my post would have re-opened a wound for you.  

As a side note, you could probably do a better job of sheltering your fragile worldview here, election-boy:

http://pensacoladaily.forumotion.com/login

It's the perfect place for incompetent douchebags with worldviews that can only exist in uncontested vacuums, so it is perfectly tailored for your personality.

Maybe you should save your myopic partisan delusion for the last sentence? Just a suggestion pollyanna.

No need.  I've been here all along and have never felt the need to delete my account in a fit of butthurt.