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Thread: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

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    Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Economy adds 163,000 jobs in July, unemployment rate rises to 8.3 percent

    Read more: Economy adds 163,000 jobs in July, unemployment rate rises to 8.3 percent | Fox News


    "July's hiring was the best since February. Still, the economy has added an average of 151,000 jobs a month this year, roughly the same as last year's pace. That's not enough to satisfy the 12.8 million Americans who are unemployed."


    Well at least we're in the same place we were last year.
    "Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy; it's inherent virtue is the equal sharing of misery." Winston Churchill

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Here is the government data:

    Employment Situation Summary Table A. Household data, seasonally adjusted


    So, how did the government/Fed (remember, one of the Fed's mandates is 'full employment') do in July?

    Well (compared to June/'12):

    - the labor force is smaller
    - there are less Americans working
    - the participation rate is smaller
    - the unemployment rate is higher



    And speaking of the participation rate - it is now the second lowest it has been in 29 years (the lowest was last April)

    Notice: Data not available: U.S. Bureau of Labor Statistics

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    worth noting is also that labor-force participation decreased. Had it not, U3 would currently stand at 8.4%. If you assume a labor force participation that Obama had when he took office, unemployment is currently at 11%, thought to be fair, when you account for the natural aging of the workforce (and the retiring that brings on), the number drops to 10.6%

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    June was also revised down to 64,000 from 80,000. The raw numbers have households actually dropping 195k jobs in July, but seasonal adjustments made that a +163k

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by cpwill View Post
    worth noting is also that labor-force participation decreased. Had it not, U3 would currently stand at 8.4%. If you assume a labor force participation that Obama had when he took office, unemployment is currently at 11%, thought to be fair, when you account for the natural aging of the workforce (and the retiring that brings on), the number drops to 10.6%
    Actually, even if you take the most die hard, liberal think tank estimates that half of the loss in participation rate is due to retirement (which does not include the number of people that retired early because they cannot find work); then even by that rosy estimate, the unemployment rate compared to the participation rate when Obama took over should be at over 9.7% today.

    No matter how you slice it - the economy is not improving.

    Despite the fact that staggering amounts of debt are being thrown at it by both the government and the Fed.
    Last edited by DA60; 08-03-12 at 10:38 AM.

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Anyone want to guess what excuse pro-Obama types will be using this time?

    I am guessing the old standby's of either/both;

    - 'we would be much worse off without Obama'

    OR

    - 'it's all Bush's fault'



    BTW - I am neither lib or con.
    Last edited by DA60; 08-03-12 at 10:49 AM.

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by cpwill View Post
    worth noting is also that labor-force participation decreased. Had it not, U3 would currently stand at 8.4%. If you assume a labor force participation that Obama had when he took office, unemployment is currently at 11%, thought to be fair, when you account for the natural aging of the workforce (and the retiring that brings on), the number drops to 10.6%
    In addition the U-6 rate is now 15% and that puts the unemployed/under employed well over 23 million. Obama believed you can delegate responsibility and as President can just tell people what to do and then blame someone else when the numbers are terrible like these. Unfortunately for Obama you cannot delegate responsibility and the responsibility for these numbers are his

    Labor Force Statistics from the Current Population Survey
    Original Data Value

    Series Id: LNS13000000
    Seasonally Adjusted
    Series title: (Seas) Unemployment Level
    Labor force status: Unemployed
    Type of data: Number in thousands
    Age: 16 years and over
    Years: 2000 to 2010

    Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
    2009 12049 12860 13389 13796 14505 14727 14646 14861 15012 15421 15227 15124
    2010 14953 15039 15128 15221 14876 14517 14609 14735 14574 14636 15104 14393
    2011 13919 13751 13628 13792 13892 14024 13908 13920 13897 13759 13323 13097
    2012 12758 12806 12673 12500 12720 12749 12794

    Discouraged workers
    2008 467 396 401 412 400 420 461 381 467 484 608 642
    2009 734 731 685 740 792 793 796 758 706 808 861 929
    2010 1065 1204 994 1197 1083 1207 1185 1110 1209 1219 1282 1318
    2011 993 1020 921 989 822 982 1119 977 1037 967 1096 945
    2012 1059 1006 865 968 830 821 852

    Unemployed + Discouraged
    2008 8145 7887 8217 8043 8795 8998 9411 9831 9968 10567 11152 11941
    2009 12783 13591 14074 14536 15297 15520 15442 15619 15718 16229 16088 16053
    2010 16018 16243 16122 16418 15959 15724 15794 15845 15783 15855 16386 15711
    2011 14912 14771 14549 14781 14714 15006 15027 14897 14934 14726 14419 14042
    2012 13817 13812 13538 13468 13550 13570 13646 0 0 0 0 0

    Labor Force 2009 154185 154424 154100 154453 154805 154754 154457 154362 153940 154022 153795 153172
    Labor Force 2012 154395 154871 154707 154365 155007 155163 155013


    UE 2012 w/o DW 8.26% 8.27% 8.19% 8.10% 8.21% 8.22% 8.25% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

    2009 U-3 With DW 8.29% 8.94% 8.79% 8.72% 8.75% 8.77% 8.83% 0.00% 0.00% 0.00% 0.00% 0.00%
    UE 2012 with DW 8.95% 8.92% 8.75% 8.72% 8.74% 8.75% 8.80% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!


    2012 U-6 rate % 15.1 14.9 14.5 14.5 14.8 14.9 15.0

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by Conservative View Post
    In addition the U-6 rate is now 15% and that puts the unemployed/under employed well over 23 million. Obama believed you can delegate responsibility and as President can just tell people what to do and then blame someone else when the numbers are terrible like these. Unfortunately for Obama you cannot delegate responsibility and the responsibility for these numbers are his
    Could you post a link to the statistics in your post please?
    Last edited by DA60; 08-03-12 at 11:03 AM.

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by DA60 View Post
    Anyone want to guess what excuse pro-Obama types will be using this time?

    I am guessing the old standby's of either/both;

    - 'we would be much worse off without Obama'

    OR

    - 'it's all Bush's fault'
    Either way, the solution is obviously to tax the rich, more and more, until they are forced to hire people since they are paying them (via Obama handouts) anyway. Yes they can!
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    re: Jobless rate rises to 8.3 percent, hiring picks up but still falling short

    Quote Originally Posted by ttwtt78640 View Post
    Either way, the solution is obviously to tax the rich, more and more, until they are forced to hire people since they are paying them (via Obama handouts) anyway. Yes they can!
    It would be nice if we could get people like Romney just to pay taxes, period.

    I'm not a Democrat and I am not an Obama supporter. To date the wealthy have enjoyed Bush tax cuts and all the tax loopholes that you and I cannot get yet unemployment continues to suck like a bucket of ticks. Simply continuing the Bush tax cuts isn't going to do squat for jobs and real Americans.

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