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

Grim17

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

nojobs.jpg


Credit to DG for the image.
 
prosperity will trickle down any day now.
 
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.. :)


Tim-
 
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?
 
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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).
 
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I always assume these #'s will be revised down by a third, its always worse than they tell you.
 
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.
 
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.
 
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.
 
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).


Just to emphasize my point - both gold and silver are up over 2% already today.
 
I wouldn't call the numbers from August "fair", as they are still 30k short of keeping up with population growth.

Sure beats 820,000 jobs lost though, doesn't it?
 
What is amazingly pathetic is that when you listen to the basic news reports, especially on raido, they highlight on

- "96 K jobs created. Not great, but positive".

- Unemployment fell from 8.3 to 8.1

Many will not say that the economy needs about 130K just to absorb population growth, or that the anomaly of the decrease is actully due to 368 K being eliminated from the count of those seeking work. aka "Obama jobs" ..... "poof".
 
What is amazingly pathetic is that when you listen to the basic news reports, especially on raido, they highlight on

- "96 K jobs created. Not great, but positive".

- Unemployment fell from 8.3 to 8.1

Many will not say that the economy needs about 130K just to absorb population growth, or that the anomaly of the decrease is actully due to 368 K being eliminated from the count of those seeking work. aka "Obama jobs" ..... "poof".

Anyone who thinks this is a good jobs report is either a macro-economic ignoramus and/or has a personal stake in spinning the report to sound better then it is.
 
I wouldn't call the numbers from August "fair", as they are still 30k short of keeping up with population growth.

GOP Congress: "We Built That." (and blame it on Obama)
 
While the unemployment rate dropped to 8.1 percent from 8.3 percent in July, that was because so many Americans gave up the hunt for work. The survey of households from which the jobless rate is derived actually showed a drop in employment.
Yes, the survery -- the bare tip of the tip of the iceberg.

The gigantic mass of silent desperation underneath, the true un- and under- employment rate around 15%, still continues as the deadweight that could drag us down into a depression any "yes it can" day.

And because the count of Americans who gave up looking is only about 60% of the actual, the actual who simply disappear into homeless transientness where they can no longer be reached by phone for the survery, the real problem is, oh yes, most definitely larger than 15%.

All political candidate pandering aside, until out-sourcing to wage-slaves abroad and in-sourcing of illegals is actually addressed in Washington, you have to be smoking something to think we're going to be getting our jobs back any time soon.

And yes, that 130,000/month jobs increase we need merely to keep up with the increase in new people over those dying/retiring, even that isn't happening.

I wonder how long it will be before the whole of Americans wake up to realize that as long as American politicians keep idealizing the "global economy", the "global economy" which is merely a sugar-coated euphemism for wage-slave workers in a borderless countryless world, there is simply no hope for the return of the once-valued American standard of living, as we instead continue to trade our jobs to third-worlders for their abject poverty import to America.

Whenever I hear a politician, a candidate, any government official say something "nice" about the "global economy" or that we must strive to "compete" in it and the like ..

.. I know that's someone who will never get my vote ..

.. For however long the "global economy" allows Americans to continue voting.
 
http://www.businessweek.com/articles/2012-09-07/weak-jobs-report-shows-obamas-long-road-ahead said:
The share of working-age people who are either working or looking for work—known as the labor-force participation rate—fell to its lowest level since September 1981.

On the good side, at least we got one more statistic that points to the 1980s ;)
 
....... I wonder how long it will be before the whole of Americans wake up to realize that as long as American politicians keep idealizing the "global economy", the "global economy" which is merely a sugar-coated euphemism for wage-slave workers in a borderless countryless world, there is simply no hope for the return of the once-valued American standard of living, as we instead continue to trade our jobs to third-worlders for their abject poverty import to America ..............

That is the painful truth right there, and it will take us a considerable time to reconfigure to get a manufacturing base back.

However, as Romney has pointed out, there is one absolute place to start. Basic, cost efficient Energy. The old-fashioned kind. His call is for first a North American energy independence (Canada, US, Mexico), and then more a US independence. There absolutely is a demand. It absolutely will be consumed. One need look no further than North Dakota right now. 2.9% unemployment. And more conversions from coal/oil to gas.

But your post is spot-on regardless.
 
Could be that those jobs are in China. :mrgreen:
431215_380578392014680_815133061_n.jpg
 
Sure beats 820,000 jobs lost though, doesn't it?
Is that the new campaign slogan? :lamo

Perhaps we should just shorten it to:
________________________________________
Obama 2012
It could have been worse...
________________________________________
 
Could be that those jobs are in China. :mrgreen:
431215_380578392014680_815133061_n.jpg

70% of Obama's failed Stimulus for "Green Tech" went to Foreign Corporations

Wind Power Does Not Equal Job Power - ABC News

"Most of the jobs are going overseas," said Russ Choma at the Investigative Reporting Workshop. He analyzed which foreign firms had accepted the most stimulus money. "According to our estimates, about 6,000 jobs have been created overseas, and maybe a couple hundred have been created in the U.S."

Facts > Your Lies
 
70% of Obama's failed Stimulus for "Green Tech" went to Foreign Corporations

Wind Power Does Not Equal Job Power - ABC News



Facts > Your Lies
Bronson, maybe I'm misunderstanding you, but maybe you missed Danarhea's point: it appeared to be just for a laugh .. and I indeed found the conflicting absurdity of it amusing.

I don't believe, he, a conservative, was making a case for Obama.
 
Bronson, maybe I'm misunderstanding you, but maybe you missed Danarhea's point: it appeared to be just for a laugh .. and I indeed found the conflicting absurdity of it amusing.

I don't believe, he, a conservative, was making a case for Obama.

Of course I wasn't. I am a equal opportunity basher. Democrat or Republican, I hate every one of those sons of bitches. LOL.
 
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