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

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

    Quote Originally Posted by American View Post
    This kind of news has been predicted for months, that the labor dept would come out with a unemployment figure ridiculously low to help the President. And voila, here it is right on cue.
    Do you realize how ridiculous your paranoia and victim complex is becoming? The media and polls are unfairly targeting the right, the Labor Dept. is making up figures to screw the right. Maybe if that many people are out to get the Republicans they should realize they aren't a very popular party currently.

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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%.
    1) Summer employment ended. People returned to school. Some of those jobs were absorbed by others. No new jobs created / less unemployed.
    2) July and August report has been adjusted to add 86,000 jobs. Or, you could look at it as the Sept new jobs number is 200,000 higher than August, which should move the bar a little.

    The jobs report in six charts

    Labor participation up... unemployed down by 456K and employed up by 870K. It was a good month.

    http://www.bls.gov/news.release/empsit.a.htm
    Last edited by upsideguy; 10-05-12 at 12:09 PM.

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

    The 7.8% number is a joke.

    The U-6 number didn't budge. The participation rate stayed virtually the same. And only 114,000 jobs were created - not remotely enough to lower the rate by 0.3%.

    Even with the revisions of past jobs created (which apparently were mostly government jobs that were mysteriously unnoticed before - suuuure), the numbers do not add up.

    And again, the U-3 rate is irrelavent, the U-6 is the true indicator...and it did not move.

    Obamanomics cannot work, Bernanke's helicopter economics xpcannot work and Keynesian economics cannot work.

    Anyone who believes otherwise simply does not understand macroeconomics...period.

    They may understand economic terms and theories (and excuses). But they do not understand real world economics.


    Precious metals and agricultural commodities is where your money (imo) should be until the money 'printing'/record low interest rates end.

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

    Ok, so the unemployment since Obama's immaculation is 10.8%. Great news! NOT!
    Quote Originally Posted by AdamT on Nov 8th, 2012 View Post
    Over the next four years the economy will continue to rebound and we will gradually get deficits under control. The real esate market will rebound, unemployment will fall to 6.5% or below, and GDP growth will stand at 3.5 - 4%. We won't be in any wars. And conservatives will still be whining.

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

    Quote Originally Posted by American View Post
    This kind of news has been predicted for months, that the labor dept would come out with a unemployment figure ridiculously low to help the President. And voila, here it is right on cue.
    Solid Jobs Report Spawns Crackpot ‘Job Truthers’ Movement | TPM2012

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

    Quote Originally Posted by DA60 View Post
    The 7.8% number is a joke.

    The U-6 number didn't budge. The participation rate stayed virtually the same. And only 114,000 jobs were created - not remotely enough to lower the rate by 0.3%.

    Even with the revisions of past jobs created (which apparently were mostly government jobs that were mysteriously unnoticed before - suuuure), the numbers do not add up.

    And again, the U-3 rate is irrelavent, the U-6 is the true indicator...and it did not move.

    Obamanomics cannot work, Bernanke's helicopter economics xpcannot work and Keynesian economics cannot work.

    Anyone who believes otherwise simply does not understand macroeconomics...period.

    They may understand economic terms and theories (and excuses). But they do not understand real world economics.


    Precious metals and agricultural commodities is where your money (imo) should be until the money 'printing'/record low interest rates end.
    Even more important than precious metals and such. Skills.
    Quote Originally Posted by AdamT on Nov 8th, 2012 View Post
    Over the next four years the economy will continue to rebound and we will gradually get deficits under control. The real esate market will rebound, unemployment will fall to 6.5% or below, and GDP growth will stand at 3.5 - 4%. We won't be in any wars. And conservatives will still be whining.

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

    Look for those numbers to be quietly revised up again later... again.

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

    And when you get into the meat of the numbers you see:


    Contained in the data are some disturbing numbers. The labor force participation rate remained near its recent low from August, with a September rate of 63.6 percent. The increase in the number of people employed is primarily due to people who found part time work but want a full time job. The number of people in that category rose by 600,000 to 8.6 million.

    About 12.1 million workers remain unemployed. The number of workers unemployed for 27 weeks or more showed little change at 4.8 million. These hard core unemployed now represent 40 percent of all those unemployed. The average number of weeks unemployed rose for the third month in a row to 38.8 weeks.

    An alternate calculation of unemployment produced by the BLS adds the number of unemployed, the number of part time workers who want full time work and the number of those marginally attached to the workforce. The U-6 unemployment rate remained steady at 14.7 percent.

    Unemployment rate falls to 44 month low - National Unemployment | Examiner.com
    It is telling that the President just went on TV and declared victory when the reality is a staggering defeat. How delusional do you have to be to believe this is good news?
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

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

    @ people creating their own reality in this thread. What planet do you folks live on that any good news for Obama is distrusted based on no evidence. Those polls you link when Romney was doing well or Republicans were about to sweep in 2010 are no longer true because Obama started to lead. Unemployment numbers when they go up are linked constantly on here but when they go down must be a conspiracy.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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

    Quote Originally Posted by Loki97 View Post
    Do you realize how ridiculous your paranoia and victim complex is becoming? The media and polls are unfairly targeting the right, the Labor Dept. is making up figures to screw the right. Maybe if that many people are out to get the Republicans they should realize they aren't a very popular party currently.
    There are contradicting stories, and this administration has made a mockery out of the Labor Dept which many no longer trust.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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