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

Amigo said:
Here you go:
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The problem I have is with them not counting those who have given up, and not counting those who have been unemployed for over 12 months.
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COOL!! now were getting somewhere, as soon a you inlighton me with what you consider " REAL NUMBERS! "

Myself the closest that i can come to an unbiased source is the BLS site.Which,incidentally has been using the same procedure that you're bitching about from before Obama was elected president.

Its not like it just jumped up and bit you in the ass during his presidency.:(
 
iguanaman said:
No other western country is.
0817-biz-EUROweb.jpg
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Your chart does a bit of cherry-picking. Try adding Canada and Australia at the very least, then Switzerland, Sweden, Norway... there are lots of western countries doing better.
 
If the unemployment rate was the only measure of how well the economy was doing, I'd agree, this would be great news. As it is, it's good that at least some Americans are finding work. The official numbers for September are 114K new jobs. 10K are public sector jobs. So 104K new private sector jobs. In order to keep up with population growth, they say we need to average out 150K new jobs a month. Septembers numbers are actually worse than those for August. Is that improvement?

Something most media ignores is the participation rate. Right now, we are near the lowest mark ever, floating around 58-59% of those who want jobs, actually having or looking for work. Those who have quit looking for work were added into the numbers, we would be at 10.7% unemployment.

Another thing economists look at is the U6 number. This number includes people that are working, but are underemployeed, meaning they want full time work, but all they have found is part time, or their job is at a pay rate that can not sustain themselves and their family. That number is 14.7% and has been right around that area for a long time.

None of this, as a whole picture, is good, or shows much of any 'recovery'.

Anything or anyone that suggests the 'big picture' shows we are doing fine, is either a partisan hack or is just showing off how little they comprehend things.
 
Arbo said:
If the unemployment rate was the only measure of how well the economy was doing, I'd agree, this would be great news. As it is, it's good that at least some Americans are finding work. The official numbers for September are 114K new jobs. 10K are public sector jobs. So 104K new private sector jobs. In order to keep up with population growth, they say we need to average out 150K new jobs a month. Septembers numbers are actually worse than those for August. Is that improvement?

Something most media ignores is the participation rate. Right now, we are near the lowest mark ever, floating around 58-59% of those who want jobs, actually having or looking for work. Those who have quit looking for work were added into the numbers, we would be at 10.7% unemployment.

Another thing economists look at is the U6 number. This number includes people that are working, but are underemployeed, meaning they want full time work, but all they have found is part time, or their job is at a pay rate that can not sustain themselves and their family. That number is 14.7% and has been right around that area for a long time.

None of this, as a whole picture, is good, or shows much of any 'recovery'.

Anything or anyone that suggests the 'big picture' shows we are doing fine, is either a partisan hack or is just showing off how little they comprehend things.
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SSSSsshh...dont let amigo see this.:2wave:

<The change in total nonfarm payroll employment for July was revised from
+141,000 to +181,000, and the change for August was revised from +96,000 to
+142,000.>

Employment Situation Summary
 
And by sheer happenstance, 98 percent of the new jobs created were accepted by unemployed Democrats.

Amazing, the coincidence.

Chicago politics at its finest. No stoop to low to stoop to.
 
treedancer said:
and the change for August was revised from +96,000 to
+142,000.>
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Yes, I read about this. The revisions accounted for public sector workers. Private sector workers was revised down 5K from the original estimate from what I have read.

Public sector jobs are not the 'backbone' of the economy.
 
Arbo said:
Yes, I read about this. The revisions accounted for public sector workers. Private sector workers was revised down 5K from the original estimate from what I have read.

Public sector jobs are not the 'backbone' of the economy.
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I wonder if we had the number of public sector jobs now,that we had before the recession what the nubers would look like?my bet is ti would be,using the same procedure that was used previously, below 6%.
 
treedancer said:
SSSSsshh...dont let amigo see this.:2wave:

<The change in total nonfarm payroll employment for July was revised from
+141,000 to +181,000, and the change for August was revised from +96,000 to
+142,000.>

Employment Situation Summary
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The fact is that the unemployment situation is actually better than the numbers suggest:

Last month, for instance, the government estimated that 386,000 more jobs than it had originally reported were created between April 2011 and March 2012, or about 32,000 per month. These estimates will be refined and officially incorporated into the numbers, when the government announces its benchmark revisions to the labor numbers on Feb. 1, 2013.

Jobs News Makes Obama's Case Easier - NYTimes.com
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In other words, an additional 386,000 jobs have been created but they are not yet reflected in the BLS database.

CES Preliminary Benchmark Announcement
 
Why Did Obama Name Far-Left Bureaucrat To Head The Bureau Of Labor Statistics? - Investors.com

Five months ago Barack Obama nominated union backer, liberal economist and Federal Reserve bureaucrat Erica Groshen to lead the U.S. Bureau of Labor Statistics (BLS) — the agency best known for calculating the nation's unemployment rate each month.

Obviously Groshen's nomination was yet another sop to organized labor — which doled out big dollars and major manpower to help elect Obama in 2008 (and which has already been rewarded handsomely for its efforts).
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Erod said:
Desperate manipulation of numbers at its finest.

Plus, any jobs improvement at this point is from the private sector anticipating a change in the presidency in the offing.
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:lol: Wow. Watch that spin; your head might twist off.
 
Samhain said:
I like how adding 114k jobs resulted in an increase of employed persons of 800k. Quite the dubious math.
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Apparently they switched metrics - conveniently to the more optimistic count.
 
American said:
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.
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The wingnut brigade is out in droves crying foul over the numbers and claiming ridiculous conspiracies are to blame. What a patriot.
 
Its funny to watch the right wing openly gnash their teeth and weep openly because the nation added jobs.

Some patriots they are. :roll::doh;)
 
Unemployment finally on the way down is good news.
Despite the credit taking and finger pointing, it probably has nothing to do with the president, or the anticipated president to be, but it is good news nevertheless.
 
haymarket said:
Its funny to watch the right wing openly gnash their teeth and weep openly because the nation added jobs.

Some patriots they are. :roll::doh;)
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This is all you need to know:

 
AdamT said:
In other words, an additional 386,000 jobs have been created but they are not yet reflected in the BLS database.
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Yippee, another 32k per month. That still puts the average right around what is needed to just to keep up with population growth. Not a positive thing, no matter how hard your operative heart spins it.
 
Taylor said:
Your chart does a bit of cherry-picking. Try adding Canada and Australia at the very least, then Switzerland, Sweden, Norway... there are lots of western countries doing better.
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Switzerland and the homogeneous frozen tundra wouldn't be cherry picking?

Here's Canada, not impressed:

canada-gdp-growth.jpg
 
Bronson said:
Americans on Food Stamps just hit a record high, but according to the Obama Administration Unemployment is WAY down and happy times are here again
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People are on food stamps because of the recession. It happens every time the economy gets bad. That's what they're for. But thanks for the deflection. And BTW, the Obama administration didn't release the new employment numbers; the labor dept did. But don't let that fact get in the way of a good conspiracy theory.

Gas

6.jpg
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Looks like price gouging to me. I'm still paying less than $4/gal. I suggest you shop around.
 
Sgt Meowenstein said:
People are on food stamps because of the recession.
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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...
 
tessaesque said:
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%.
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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...ment-rate-2012-latest-gallup-report-shows.htm
 
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Arbo said:
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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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.
 
cpwill said:
Apparently they switched metrics - conveniently to the more optimistic count.
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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.
 
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
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