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Thread: Unemployment Rate Jumps to 9.6 Percent in August

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    Unemployment Rate Jumps to 9.6 Percent in August

    The unemployment rate went up a tick and we lost another 54,000 jobs. Thank god the "summer of recovery" is over.

    Unemployment Rate Jumps to 9.6 Percent in August

    (AP) The U.S. unemployment rate rose in August for the first time in four months as weak hiring by private employers wasn't enough to keep pace with a large increase in the number of people looking for work.

    The Labor Department says companies added a net total 67,000 new jobs last month, down from July's upwardly revised total of 107,000. Wall Street analysts expected a smaller gain, according to Thomson Reuters.

    Overall, the economy lost 54,000 jobs as 114,000 temporary census positions came to an end. State and local governments shed 10,000 positions. The jobless rate rose to 9.6 percent from 9.5 percent in July.
    Unemployment Rate Jumps to 9.6 Percent in August - CBS News

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    Re: Unemployment Rate Jumps to 9.6 Percent in August

    Wait for it!

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    Re: Unemployment Rate Jumps to 9.6 Percent in August

    Quote Originally Posted by EnigmaO01 View Post
    Wait for it!
    You lost me on this one?

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    Re: Unemployment Rate Jumps to 9.6 Percent in August

    Here are the "summer of recovery" official numbers:

    Unemployment rate - Up .1%
    Payroll employment - 283,000 jobs lost.

    *

    Remember, we need 100 to 125 thousand jobs created every month just to keep up with population growth

    On the upside, they revised July employment numbers upward showing 107,000 private sector jobs created, taking the total number of jobs lost in July from 131k down to 54k. Also, unemployed Americans out of work for more than six months in August was 42%, down from 45% in July, and Average hourly earnings of all employees increased by $0.06.

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    Re: Unemployment Rate Jumps to 9.6 Percent in August

    Quote Originally Posted by Grim17 View Post
    The unemployment rate went up a tick and we lost another 54,000 jobs. Thank god the "summer of recovery" is over.



    Unemployment Rate Jumps to 9.6 Percent in August - CBS News
    The Obama record is in tact, continued higher unemployment every month this year vs. last

    Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
    2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
    2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
    2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
    2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
    2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
    2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
    2006 7059 7185 7075 7122 6977 6998 7154 7097 6853 6728 6883 6784
    2007 7085 6898 6725 6845 6765 6966 7113 7096 7200 7273 7284 7696
    2008 7628 7435 7793 7631 8397 8560 8895 9509 9569 10172 10617 11400
    2009 11919 12714 13310 13816 14518 14721 14534 14993 15159 15612 15340 15267
    2010 14837 14871 15005 15260 14973 14623 14599 14860

    2008 467 396 401 412 400 420 461 381 467 484 608 642
    2009 734 731 685 740 792 793 796 758 706 808 861 929
    2010 1065 1204 994 1197 1083 1207 1185 1110

    Unemployed + Discouraged
    2008 8095 7831 8194 8043 8797 8980 9356 9890 10036 10656 11225 12042
    2009 12653 13445 13995 14556 15310 15514 15330 15751 15865 16420 16201 16196
    2010 15902 16075 15999 16457 16056 15830 15784 15970

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    Re: Unemployment Rate Jumps to 9.6 Percent in August

    voted for obama? embarrassed yet?

    that's ok, there's time

    and things are falling fast

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    Re: Unemployment Rate Jumps to 9.6 Percent in August

    There were also 60,000 jobs gained ex-census. The gap between ex-census and current employment is becoming smaller which suggests that the negative impact of lower census hiring should be smaller in the coming months. The 60,000 positive gain is pretty weak, and right on schedule for those who have been saying that the stimulus package was too small to begin with. Without another stimulus, expect a slow economy for the 2nd half of 2010.

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    Re: Unemployment Rate Jumps to 9.6 Percent in August

    Or, we could, just spitballing here, not throw good money after bad, especially with no end in sight to massive, massive deficits.
    “Offing those rich pigs with their own forks and knives, and then eating a meal in the same room, far out! The Weathermen dig Charles Manson.”-- Bernadine Dohrn

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    Re: Unemployment Rate Jumps to 9.6 Percent in August

    Quote Originally Posted by drz-400 View Post
    There were also 60,000 jobs gained ex-census. The gap between ex-census and current employment is becoming smaller which suggests that the negative impact of lower census hiring should be smaller in the coming months. The 60,000 positive gain is pretty weak, and right on schedule for those who have been saying that the stimulus package was too small to begin with. Without another stimulus, expect a slow economy for the 2nd half of 2010.
    Were there more or less people unemployed in August 2010 vs. 2009? Were there more or less people employed in August 2010 vs. 2009?

    Another stimulus? How was the first stimulus spent?

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    Re: Unemployment Rate Jumps to 9.6 Percent in August

    Quote Originally Posted by drz-400 View Post
    There were also 60,000 jobs gained ex-census. The gap between ex-census and current employment is becoming smaller which suggests that the negative impact of lower census hiring should be smaller in the coming months. The 60,000 positive gain is pretty weak, and right on schedule for those who have been saying that the stimulus package was too small to begin with. Without another stimulus, expect a slow economy for the 2nd half of 2010.
    Oh WOW, what a clever chappie your are to post this 'forecast' for the 2nd quarter, in the 3rd quarter.

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