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Thread: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

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    US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    This can't be good for Obama... But you never know how the main stream media will spin it, since Obama needs help.


    US economy adds 96K jobs, rate falls to 8.1 pct.
    US economy adds 96K jobs; unemployment rate falls to 8.1 pct. as more people end job searches
    By Christopher s Rugaber


    WASHINGTON (AP) -- U.S. employers added 96,000 jobs last month, a weak figure that could slow the momentum President Barack Obama hoped to gain from his speech Thursday night to the Democratic National Convention.

    The unemployment rate fell to 8.1 percent from 8.3 percent in July. But that was only because more people gave up looking for work. People who are out of work are counted as unemployed only if they're looking for a job

    US economy adds 96K jobs, rate falls to 8.1 pct. - Yahoo! Finance

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    re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    And something like 368,000 folks dropped out of the labor force.



    Credit to DG for the image.

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    re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    prosperity will trickle down any day now.

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    re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by Grim17 View Post
    This can't be good for Obama... But you never know how the main stream media will spin it, since Obama needs help.
    Yes, and people say well what do you mean they stopped looking for work? Yes their poggy ran out and now they're on welfare. So, they drop out of one list but add to another list. Do the math..


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    re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    There, of course, will be people that just look at the unemployment rate and think this is a good jobs report.

    Anyone that thinks that on here, you then instantly know that they do not understand unemployment in America.

    Ignore the ignoramus spin doctors - this is NOT a good report.

    96,000 new jobs created is NOT a good number.

    With the participation rate droping to it's lowest level since 1981 - it clearly shows that huge numbers of people are simply giving up on the economy getting better anytime soon (though Dems will probably try and spin this by saying more people are retiring or something).

    I am neither Dem or Rep - but this report shows a stagnating economy.


    QE3?
    Last edited by DA60; 09-07-12 at 11:12 AM.

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    re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Additionally, this from the (imo) excellent Silexx Market Preview:

    'However, there is more bad news. The previous month's low of 163,000 jobs created was revised lower to 141,000 and the report two months ago that reflected a horrible 65,000 jobs created was also revised lower to only 45,000 jobs created.'

    (You have to subscribe to it to read it, I believe)


    So even the not-so-good news from last month and the bad news from the one before it - now turn out to be worse.


    QE3 IS coming, count on it.

    If you own precious metals and/or commodities...do NOT sell them now (imo).
    Last edited by DA60; 09-07-12 at 11:24 AM.

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    re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    I always assume these #'s will be revised down by a third, its always worse than they tell you.
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    re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by DA60 View Post
    Additionally, this from the (imo) excellent Silexx Market Preview:

    'However, there is more bad news. The previous month's low of 163,000 jobs created was revised lower to 141,000 and the report two months ago that reflected a horrible 65,000 jobs created was also revised lower to only 45,000 jobs created.'

    (You have to subscribe to it to read it, I believe)


    So even the fair news from last month and the bad news from the one before it - now turn out to be worse.


    QE3 IS coming, count on it.

    If you own precious metals and/or commodities...do NOT sell them now (imo).
    I wouldn't call the numbers from August "fair", as they are still 30k short of keeping up with population growth.

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    re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by Lachean View Post
    I always assume these #'s will be revised down by a third, its always worse than they tell you.
    Additionally, the weekly jobless claims are absolutely pathetic for accuracy as EVERY SINGLE WEEK for at least half a year they have been revised lower.

    That is ridiculous - clearly whatever model they are using does not work.

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    re: US economy adds 96K jobs, rate falls to 8.1 pct. [W:123]

    Quote Originally Posted by Grim17 View Post
    I wouldn't call the numbers from August "fair", as they are still 30k short of keeping up with population growth.
    I agree.

    I actually changed that to 'not-so-good' before you typed your post.

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