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Thread: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

  1. #121
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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Sgt Meowenstein View Post
    People are on food stamps because of the recession.
    Um, weren't we told around June of 2009 that the recession was 'over'? If that is the case, then based on the chart posted, between then and now, more than 10 million more people are on the food stamp rolls. Whereas from 07 to the end of the recession in 09, the amount of people added is less than that...
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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by tessaesque View Post
    I just read an article on my cell phone (trying to find it online) that was published on Thursday and said the jobs report was expected to show an increase of 110k jobs and a stationary unemployment rate of 8.1%. I'm curious as to how 4k jobs was enough to drop unemployment from 8.1% to 7.8%.
    That was the gallop poll figure, which is independent, and it also has unemployment at less than 8%, so that pretty much confirms the gov figures. There is another private company that also does an independent poll, and it shows about what the federal figures are. The federal figures indicate 875,000 total increase in employment (no adjustments), I am under the impression that the 115k figure reported by the gov is seasonally adjusted (sept employment always trends upwards) and doesn't include people hired for Christmas or for fall farm harvest. Nearly a half million people reentered the workforce in Sept, I assume that was many of the people who had dropped out of the work force earlier during the year, and if our workforce hadn't had grown, unemployment would have been down to 7.6%.

    http://www.latinospost.com/articles/...port-shows.htm
    Last edited by imagep; 10-05-12 at 08:09 PM.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Arbo View Post
    Um, weren't we told around June of 2009 that the recession was 'over'? If that is the case, then based on the chart posted, between then and now, more than 10 million more people are on the food stamp rolls. Whereas from 07 to the end of the recession in 09, the amount of people added is less than that...
    I believe all of that is accurate. Contrats!

    Yea, this trend that you noted is an indicator of the migration of income and wealth from the working poor to higher income earners. It's what is to be expected when we don't have enough "artificial" redistribution of income mechanisms in place. during the 1950's when the upper income level tax rates were much higher, all income classes had about the same rate of income growth.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by cpwill View Post
    Apparently they switched metrics - conveniently to the more optimistic count.
    Nope.

    Without seasonal adjustments, about 875,000 people found jobs in Sept. The 114k figure is seasonally adjusted (more people always go to work in Sept due to farm harvests and Christmas retail hiring). There were also nearly a half million people to re-enter the workforce.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    It's incredible that we've had two conservative TRUTHER moments in as many weeks. First there was poll denail, and now it's unemployment percentage denial. GOP hands who have reason to know say STFU and stop embarrassing yourselves.

    The jobs numbers truther movement

    A cadre of conservatives from Jack Welch to Allen West are crying conspiracy over Friday’s good economic news, accusing the White House of cooking the books to boost President Barack Obama’s prospects for reelection.

    The word from Republicans who have worked with the jobs numbers before? Bunk.

    “The numbers are put together by trained professionals and in a process that keeps politicians from interfering,” said Douglas Holtz-Eakin, president of the American Action Forum and a chief economic adviser to former President George W. Bush. “Any sort of suggestion to the contrary is wrong.”

    Former Bush administration spokesman Tony Fratto took to Twitter to say: “Stop with the dumb conspiracy theories. Good grief.”

    The jobs numbers truther movement - Patrick Reis - POLITICO.com
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by AdamT View Post
    It's incredible that we've had two conservative TRUTHER moments in as many weeks. First there was poll denail, and now it's unemployment percentage denial. GOP hands who have reason to know say STFU and stop embarrassing yourselves.
    There WAS poll denial; but now that polls show that Romney got a very slight bump from his perceived debate win, cons suddenly love polls again.


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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by imagep View Post
    I believe all of that is accurate. Contrats!

    Yea, this trend that you noted is an indicator of the migration of income and wealth from the working poor to higher income earners. It's what is to be expected when we don't have enough "artificial" redistribution of income mechanisms in place. during the 1950's when the upper income level tax rates were much higher, all income classes had about the same rate of income growth.
    Ah, more hackish nonsense. In the 50's you didn't have anywhere near the level of redistribution that we have now, not nearly the same level of people 'living' off the government.
    "nah i think the way cons want to turn this into a political issue is funny though" - Philly Boss

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    CNBC even doubts the numbers. I sense manipulation and I'm not a big conspiracy theory guy. The BLS predicted almost the exact number of jobs gained yet they were off on their unemployment percentage by .5%. How does that happen?
    Jobs Growth Rises 114,000 as Rate Slides to 7.8 Percent - US Business News - CNBC
    “Mr. Speaker, I once again find myself compelled to vote against the annual budget resolution for a very simple reason: it makes government bigger.” ― Ron Paul
    Timid men prefer the calm of despotism to the tempestuous sea of Liberty. – Thomas Jefferson

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    If there were only 114,000 jobs added it is impossible for unemployment percent to fall from 8.1% to 7.8%.... You would at least have to have 500,000 jobs created.....It looks like someone is cooking the books to help Obama.
    "God Bless Our Troops in Harms Way."

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Navy Pride View Post
    If there were only 114,000 jobs added it is impossible for unemployment percent to fall from 8.1% to 7.8%.... You would at least have to have 500,000 jobs created.....It looks like someone is cooking the books to help Obama.
    The 114K is seasonally adjusted. The numbers they used are the 800K+ new jobs, minus the new unemployed, which brings the 'new jobs' to about 400K.
    "nah i think the way cons want to turn this into a political issue is funny though" - Philly Boss

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