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

AdamT said:
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.
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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.
 
imagep said:
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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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.
 
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.
 
Navy Pride said:
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.
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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.
 
imagep said:
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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Wanna buy a bridge ?

Been averaging 140K jobs created by that dynamic all summer. September a year ago, it was closer to 250 K. Now we get the highest jump in 29 years ...... when nothing happened. Nothing. Except its one month before the election.

Its a steel arch bridge. I'll give you a good deal.
 
Eighty Deuce said:
Wanna buy a bridge ?

Been averaging 140K jobs created by that dynamic all summer. September a year ago, it was closer to 250 K. Now we get the highest jump in 29 years ...... when nothing happened. Nothing. Except its one month before the election.

Its a steel arch bridge. I'll give you a good deal.
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Lunacy. I have to say that the loss of our population's ability to think rationally is more disturbing to me than any of the economic news from the last five years.
 
Sgt Meowenstein said:
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.



Looks like price gouging to me. I'm still paying less than $4/gal. I suggest you shop around.
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This is no doubt a Southern California station. That area is experiencing rapid rises in gas prices due to a fire in a refinery and problem with one of the pipelines. It has nothing to do with Washington, Obama, Democrats, Republicans, OPEC, or anything remotely political. It is also localized and temporary.
As for the food stamps graph, it does appear to have leveled off as the recession has begun to ebb.
 
AdamT said:
Lunacy. I have to say that the loss of our population's ability to think rationally is more disturbing to me than any of the economic news from the last five years.
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Such as we discovered Nov 2008, when we saw folks duped by the jackass Obama. Hasn't let up since. I think you know those folks. Very well-acquainted, in fact.

How's the hopey-changey fairy tale working out ?
 
Arbo said:
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.
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From the standpoint of welfare as being redistribution thats true. Personally, I am totally against welfare. The type of redistribution I am talking about is the progressive income tax system.

Somehow I get this feeling that you are this really angry little person by the tone of your posts. Lighten up a little, it's just the internet.
 
Navy Pride said:
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.
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114,000 jobs is just the seasonally adjusted figure. There were nearly 900,000 jobs added, and close to a half million people entered the workforce. But I will give you some credit, your estimate of about 500,000 jobs created to bring the unemployment rate down that low is fairly accurate: 875,000 jobs created minus 475,000 people entering the workforce = 400,000 fewer unemployed people. Your estimate is pretty close, you obviously know your stuff.

Two private companies who do their own unemployment tracking have the unemployement rate within a tenth of a percent of the governments numbers, so although 875,000 new jobs sounds shady, the unemployment rate reported by the gov sounds about right.
 
Eighty Deuce said:
Wanna buy a bridge ?

Been averaging 140K jobs created by that dynamic all summer. September a year ago, it was closer to 250 K. Now we get the highest jump in 29 years ...... when nothing happened. Nothing. Except its one month before the election.

Its a steel arch bridge. I'll give you a good deal.
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I suspect that it is the seasonal adjustments that make the numbers sound funky.
 
imagep said:
From the standpoint of welfare as being redistribution thats true. Personally, I am totally against welfare. The type of redistribution I am talking about is the progressive income tax system.
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This makes no sense. Taking from some and giving to others, that's redistribution. What the hell kind of redistribution do you think was going on in the 50's?

Somehow I get this feeling that you are this really angry little person by the tone of your posts. Lighten up a little, it's just the internet.
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Well, that just proves your intuition is wrong.
 
imagep said:
I suspect that it is the seasonal adjustments that make the numbers sound funky.
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Numbers that have some added "seasoning" would be more like it. As noted, largest one-month swing since 1983. Further, it is almost exclusively "part-time" jobs, all of a sudden showing up at a rate four-fold prior months.Its bogus. Fairy tale crap.

I expect candidates, and parties, to lie and spin. But now the fix is in with what should be simple math from another government agency that has been corrupted. What a pile of crap the entire Obama Administration is.
 
Eighty Deuce said:
Numbers that have some added "seasoning" would be more like it. As noted, largest one-month swing since 1983. Further, it is almost exclusively "part-time" jobs, all of a sudden showing up at a rate four-fold prior months.Its bogus. Fairy tale crap.

I expect candidates, and parties, to lie and spin. But now the fix is in with what should be simple math from another government agency that has been corrupted. What a pile of crap the entire Obama Administration is.
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Dude, wake the **** up. You can't deny reality just because you don't like it. Even Bush's former economic advisors are rolling their eyes at you.
 
Regardless of how the percentage is, jobs are being added either way. The car industry is doing better than it has since 2008 and manufacturing as a whole is on the rise.
 
JohnWOlin said:
Regardless of how the percentage is, jobs are being added either way. The car industry is doing better than it has since 2008 and manufacturing as a whole is on the rise.
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Not really.

In September, 16,000 manufacturing jobs were lost.

And in August, 22,000 manufacturing jobs were lost.

But about 55,000 new government jobs over that time frame were created.


Plus, the real unemployment number (imo) - the U-6 - stayed at 14.7% for September.
 
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MarineTpartier said:
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
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No, CNBC doesn't doubt the numbers. They said nothing of the sort in that article. What they did was quote Jack Welch, the apparent nutjob and former CEO of GE who accused the BLS -- a very reliable and totally nonpartisan office -- of cooking the numbers.

They also quoted Liz Ann Sonders, chief investment strategist at Charles Schwab.

"It's been our view that we would see a slow but consistent improvement in the jobs picture. I'm not sure this changes that view much at all."
 
Eighty Deuce said:
Such as we discovered Nov 2008, when we saw folks duped by the jackass Obama. Hasn't let up since. I think you know those folks. Very well-acquainted, in fact.

How's the hopey-changey fairy tale working out ?
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I'm sorry you don't like the fact that the economy has improved under Obama; but, all of the sobbing over the lower UE rate and all the spittle you let fly onto your monitor won't change that. Maybe you'll get lucky and the UE rate will increase before the election since the lower rate bothers you so much. Patriot.
 
Sgt Meowenstein said:
I'm sorry you don't like the fact that the economy has improved under Obama; but, all of the sobbing over the lower UE rate and all the spittle you let fly onto your monitor won't change that. Maybe you'll get lucky and the UE rate will increase before the election since the lower rate bothers you so much. Patriot.
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The unemployment rate did not go down - it's still at 14.7%.

The U-3 is a joke used by economic simpletons and/or people with political/financial agendas (no offense).

To ignore discouraged workers and to ignore the fact that many part time workers only do so because they cannot find full time employment is ridiculous.

Only the U-6 is the relatively true measure of unemployment in America.
 
Sgt Meowenstein said:
I'm sorry you don't like the fact that the economy has improved under Obama; but, all of the sobbing over the lower UE rate and all the spittle you let fly onto your monitor won't change that. Maybe you'll get lucky and the UE rate will increase before the election since the lower rate bothers you so much. Patriot.
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Right. An improvement in the unemployment rate to 7.8% that comes at the expense of trillion dollar annual deficits and trillion dollar FED market manipulation should be viewed for what it objectively is--a massive failure.
 
DA60 said:
The unemployment rate did not go down - it's still at 14.7%.

The U-3 is a joke used by economic simpletons and/or people with political/financial agendas (no offense).

To ignore discouraged workers and to ignore the fact that many part time workers only do so because they cannot find full time employment is ridiculous.

Only the U-6 is the relatively true measure of unemployment in America.
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You may be right, but that's not what analysts refer to when talking about the UE rate.
 
Fletch said:
Right. An improvement in the unemployment rate to 7.8% that comes at the expense of trillion dollar annual deficits and trillion dollar FED market manipulation should be viewed for what it objectively is--a massive failure.
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So, you'd prefer a 10% UE rate with only the massive deficits that Bush left us?
 
AdamT said:
Dude, wake the **** up. You can't deny reality just because you don't like it. Even Bush's former economic advisors are rolling their eyes at you.
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You got a picture of them rolling their eyes at me ? That would be cool !

Otherwise, perhaps you should STFU, and worry about the topic, and not me ............ ;)
 
Sgt Meowenstein said:
I'm sorry you don't like the fact that the economy has improved under Obama; but, all of the sobbing over the lower UE rate and all the spittle you let fly onto your monitor won't change that. Maybe you'll get lucky and the UE rate will increase before the election since the lower rate bothers you so much. Patriot.
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LOL .... yeah, we are just recovering all over. Hey, since you are the expert, can you tell us which summer was the Recovery one ? Thanks.
 
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