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

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.

I hate to break this to you, Podna, but like the U3 rate, U6 is below where it was during Obama's first full month in office (15.1%).
 
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.

Our GDP has gotten smaller each of the last three years, now at 1.3% annualized. That's with our government spending $1.2 T yearly that it does not have, a number closer to 8% of GDP. Can you tell what is wrong with that picture ?
 
I hate to break this to you, Podna, but like the U3 rate, U6 is below where it was during Obama's first full month in office (15.1%).

labor-force-participation.jpg


there's not much happiness, here.



Look, no one blames Obama for the crash. We blame him for stymieing the recovery.

scariest-jobs-chart-ever.png


Because his foolish plans were built around false assumptions, we ended up being worse off than if he had done nothing

unemployment.jpg
 
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.

The 30 consecutive months of job growth and an UE rate from 10% to 7.8% speak for themselves. Thanks for playing :2wave:
 
The 30 consecutive months of job growth and an UE rate from 10% to 7.8% speak for themselves. Thanks for playing :2wave:

Yeah, things are just peachy all over ! With the same LFPR that he had when he took office, U-3 would be 11.2 %. That top graph the cpwill just posted will help.

But you be sure to vote Obama. Vote for more of whatever it is you are getting.
 
Yeah, things are just peachy all over ! With the same LFPR that he had when he took office, U-3 would be 11.2 %. That top graph the cpwill just posted will help.

But you be sure to vote Obama. Vote for more of whatever it is you are getting.

I will. I'll vote for more consecutive months of jobs growth, more lowering UE rates, and I'll be more than happy to vote for the man who got health care reform, financial reform, education reform, student loan reform, fair pay for women; the man who ended DADT, ended Bush's deficit-growing war in Iraq, is ending Bush's other unpaid war in Afghanistan; the man who got Bin Laden (another thing Bush failed to do); the man who sees an America where the rich pay their fair share; the man who cares for 100% of the country, including the 47% that Mitt looks down his nose at.

And you can vote for the man who changes his positions more than you change your underwear and who plans on giving himself and the rest of the top percent massive tax breaks while cutting/eliminating needed programs for the poor while asking the middle class to pay more.
 
The 30 consecutive months of job growth and an UE rate from 10% to 7.8% speak for themselves. Thanks for playing :2wave:

Given that growth is sputtering at barely above 1%, whereas the post-war average for growth in a recovery is about 5 hundred times that amount, yes, it does indeed speak for itself.




Obama has done a worse job than every other president in the post-war era:

easset_upload_file921_26993_e.jpg


2_1_2-cumulative-loss-OPT.jpg


and so on and so forth ad nauseum. :( there is good reason for why people still think we are in a recession.
 

I always thought this chart was far more revealing than anyone's said.

It was "justification" for spending a trillion dollars of pure deficit for a ~1% difference in the peak of unemployment in the BEST CASE scenario, and the difference would be a wash by 2012 without the stimulus. This is what they predicted.

I always thought it tipped their hand. They figured the economy was going to follow the recovery path it usually does no matter what they did, so they might as well not, as Rahm put it, let the crisis go to waste and get a whole bunch of the liberal wish list through, while the economy recovers on its own and they could take credit for it.

Just about everything the administration has done is consistent with that thinking (recall Obama's confidence in Feb '09 that he'd have it "done" in three years), as is their continual surprise that it hasn't happened the way they thought it would.

So gosh, could it be that their zeal to overregulate had the opposite effect? Hmmm.
 
I always thought this chart was far more revealing than anyone's said.

It was "justification" for spending a trillion dollars of pure deficit for a ~1% difference in the peak of unemployment in the BEST CASE scenario, and the difference would be a wash by 2012 without the stimulus. This is what they predicted.

I always thought it tipped their hand. They figured the economy was going to follow the recovery path it usually does no matter what they did, so they might as well not, as Rahm put it, let the crisis go to waste and get a whole bunch of the liberal wish list through, while the economy recovers on its own and they could take credit for it.

Just about everything the administration has done is consistent with that thinking (recall Obama's confidence in Feb '09 that he'd have it "done" in three years), as is their continual surprise that it hasn't happened the way they thought it would.

I think you are right - and I think that's why they pivoted so fast to healthcare. Obama figured he had "checked the economy box" and could now move on to other things while it naturally righted itself. Forgetting, apparently, that taking mass amounts of resources and moving them from more productive allocations to less productive allocations reduces net productivity. woops.
 
I will. I'll vote for more consecutive months of jobs growth, more lowering UE rates, and I'll be more than happy to vote for the man who got health care reform, financial reform, education reform, student loan reform, fair pay for women; the man who ended DADT, ended Bush's deficit-growing war in Iraq, is ending Bush's other unpaid war in Afghanistan; the man who got Bin Laden (another thing Bush failed to do); the man who sees an America where the rich pay their fair share; the man who cares for 100% of the country, including the 47% that Mitt looks down his nose at.

And you can vote for the man who changes his positions more than you change your underwear and who plans on giving himself and the rest of the top percent massive tax breaks while cutting/eliminating needed programs for the poor while asking the middle class to pay more.

OK. Everything is coming up roses then .......... :roll:

U-3 with the same labor force Obama inherited is 11.2.

U-6, which includes those who are no longer looking, or who only have part-time jobs, but want full time jobs, remained unchanged at a whopping 14.7% unemployed.
 
Given that growth is sputtering at barely above 1%, whereas the post-war average for growth in a recovery is about 5 hundred times that amount, yes, it does indeed speak for itself.




Obama has done a worse job than every other president in the post-war era:

easset_upload_file921_26993_e.jpg


2_1_2-cumulative-loss-OPT.jpg


and so on and so forth ad nauseum. :( there is good reason for why people still think we are in a recession.

Let's not forget:

Employment-Ratio-580.png
 
912x661xPopulationandJobs014.png.pagespeed.ic.n3C-rTAnvA.jpg

More of that big picture... and it's not rosy.
 
I hate to break this to you, Podna, but like the U3 rate, U6 is below where it was during Obama's first full month in office (15.1%).

And the rate is still 1.2% higher then it was during GWB's last full month in office. And he was a horrible POTUS.

Portal Seven | U6 Unemployment Rate


So, since the day Obama took over...unemployment is higher, average home resale is lower, food stamp usage is up over 30% AND the national debt is up roughly 40%.


Not that I am complaining...Obama and Bernanke are making all us gold/silver bugs TONS of money for doing nothing more then sitting on our asses.

http://goldprice.org/gold-price-history.html

http://silverprice.org/silver-price-history.html

I selfishly hope he is re-elected and continues to spend, spend, spend.

But for America's sake, I hope Gary Johnson is elected (Romney will only help a small amount, imo)...though clearly he has no chance.
 
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Sorry, but a 7.8% unemployment rate 3 1/2 years after the end of the recession is hardly anything to beat ones chest over. What recovery we have is just the result of deficit spending and FEd market manipulation. Obamas policies as they relate to private sector job creation--dont exist. Just as his objectives for a second term dont exist.
 
And the rate is still 1.2% higher then it was during GWB's last full month in office. And he was a horrible POTUS.

Yes it is, and he was. That's because he left Obama with an economy in the middle of a historic economic meltdown. Amazingly, all of Bush's policies, and the consequences of them, didn't terminate the day he left office. You can't stop the economy or a super tanker on a dime.
 
Sorry, but a 7.8% unemployment rate 3 1/2 years after the end of the recession is hardly anything to beat ones chest over. What recovery we have is just the result of deficit spending and FEd market manipulation. Obamas policies as they relate to private sector job creation--dont exist. Just as his objectives for a second term dont exist.

No one is beating their chest over it. Why do y'all insist on beating strawmen? It's a modest improvement -- one in a long line of modest improvements that are necessary to put the economy back together.

If you conservatives think it's so insignificant, why are you embarrassing yourselves denying that it even happened? Strange.
 
carl quintanilla on the doom and gloom network, cnbc, interviewed labor secretary hilda solis at the break of dawn:

"we at least are getting bombarded by people who do not believe the 7.8 number, who believe this was fixed, timed to coincide with election day, what do you say to them?"

"a lot of people out there do not believe the 7.8 number, they believe that somehow bls fixed this to coincide with the election cycle, what is labor's response?"

"you say that skepticism over the number is ludicrous, you say you're insulted, is there a danger, you believe, when large sections of the country don't believe the data, i mean, not that it's every been considered gospel, but when you have real disbelief, i mean how much danger is embedded in that?"

Labor Secretary Solis "Insulted" By Claim That Job Numbers Were Rigged | RealClearPolitics

conspiracies and accompanying theories aside, 114K doesn't even come close to keeping up with population

exactly two thirds of those rather surprising 873K jobs discovered are part time---according to ms solis' accountants themselves

In the most recent household survey, the biggest hiring gains came in the form of 582,000 new part-time jobs in September. Part of that number can be explained by young workers, ages 16 to 24. The data show this age group saw a huge pickup in jobs in September, due almost entirely to seasonal adjustments by the Labor Department.

CNN: September jobs report: Unemployment rate tumbles - Oct. 5, 2012

ah, seasonal adjustments

manufacturing is down 16K for the month

construction's off a devastating one million net---5 years later

1,035,000: Construction Jobs Lost Under Obama | CNSNews.com

58% of the jobs created during the obama "recovery" pay between $9 and $13 per hour

Majority of new jobs in recovery are low-paying - Los Angeles Times

which is a big part of the reason gdp was revised so far down

Second-quarter U.S. GDP revised down to 1.3% - MarketWatch

part time work, $10 per hour jobs, labor participation an historic low...

food stamps, disability, reduced early retirement, poverty, student loan debt...

national debt, the fiscal cliff, the entitlement explosion...

hopelessness, no prospects, no ideas, no solutions...

vote obama...

2012...

punt!
 
The best news anywhere in the U.S. economy over the past three months has been in the government sector, where unemployment has dropped dramatically from 5.7 percent in July to 5.1 percent in August to 4.3 percent in September, according to the Bureau of Labor Statistics.

Both the federal and state governments increased their employees in July, August and September.

The Obama administration has added 10,000 civilian workers to the federal government's payroll since July, according to BLS. In that month, the federal government employed 2,804,000 civilian workers. In August, that increased to 2,810,000. And, in September, the number of civilian federal employees increased again to 2,814,000.

State governments have added a net of 17,000 new workers to their taxpayer-funded payrolls over the past three months. In July, state government around the nation employed 5,052,000 people. In August, that climbed to 5,056,000, and in September it climbed again to 5,069,000.

Unemployment Rate Plummets to 4.3%--For Government Workers | CNSNews

june 8: Obama: "The Private Sector Is Doing Fine" | RealClearPolitics
 
Yes it is, and he was. That's because he left Obama with an economy in the middle of a historic economic meltdown. Amazingly, all of Bush's policies, and the consequences of them, didn't terminate the day he left office. You can't stop the economy or a super tanker on a dime.

Make all the excuses for him you like...I don't care, I am neither Rep nor Dem.

But the facts are that since Obama took over, the unemployment rate is worse, both the national debt and food stamp usage are over a third higher and average house prices are lower.
 
I would like to know what those jobs are... and if they are jobs that can bring people into the middle class or not. If not, then its a very, very small victory...

And were the jobs created actually filled by unemployed individuals?
 
Make all the excuses for him you like...I don't care, I am neither Rep nor Dem.

But the facts are that since Obama took over, the unemployment rate is worse, both the national debt and food stamp usage are over a third higher and average house prices are lower.
Have to admit it was exciting four years ago with all the talk of hope and change my expectations were so high, but now I am so disappointed and I personally know many people who have lost jobs and homes, very sad.
 
I think you are right - and I think that's why they pivoted so fast to healthcare. Obama figured he had "checked the economy box" and could now move on to other things while it naturally righted itself. Forgetting, apparently, that taking mass amounts of resources and moving them from more productive allocations to less productive allocations reduces net productivity. woops.

Yes, they're economic idiots, and we see the result.

The only thing defenders can say is "he stopped the Second Great Depression!!!!!!!"

Well, you can't prove that, and THEIR OWN CHART says differently anyway. They charted unemployment to bottom out around 8.1% and right itself within a few years. So THEY didn't even think they were stopping Great Depression II.
 
I know that this has been covered but why don't reps just say "finally good news for AMERICA". Why do they hate us so much? Filabusters, calling 47% of americans lazy good for nothing slobs, women are just additives to the population, ethnic people are anti american betrayers ready to destroy this country at a moments notice (72 million of us?), unconstittutionally opposing the rights of others to what all Americans are entitled to. Why can't they just say "good for us for once".
 
Why can't they just say "good for us for once"

why can't they just say 2/3 of the almost a million jobs recently discovered being part time is not good enough?

why can't they just say that 58% of the way-too-few jobs created during the entire obama "recovery" being 10 dollars or so per hour is not good enough?

why can't they say that a $4500 fall in median middle class income stinks?

why can't they just say that record numbers in poverty, on food stamps, on disability, on early social security, mired in longterm joblessness---it's not good enough

not good enough:

America's gross domestic product — the broadest measure of economic output — grew 6.8 percent from the April-June quarter of 2009 through the same quarter this year, the slowest in the first three years of a postwar recovery. GDP grew an average of 15.5 percent in the first three years of the eight other comebacks analyzed.

Consumer spending has grown just 6.5 percent since the recession ended, feeblest in a postwar recovery. In the first three years of previous recoveries, spending rose an average of nearly 14 percent.

The economy shed a staggering 8.8 million jobs during and shortly after the recession. Since employment hit bottom, the economy has created just over 4 million jobs. So the new hiring has replaced 46 percent of the lost jobs, by far the worst performance since World War II. In the previous eight recoveries, the economy had regained more than 350 percent of the jobs lost, on average.

Adjusted for inflation, wages have fallen 0.8 percent. In the previous five recoveries —the records go back only to 1964 — real wages had gone up an average 1.5 percent at this point.

Economic recovery is weakest since World War II - Yahoo! News
 
why can't they just say 2/3 of the almost a million jobs recently discovered being part time is not good enough?

why can't they just say that 58% of the way-too-few jobs created during the entire obama "recovery" being 10 dollars or so per hour is not good enough?

why can't they say that a $4500 fall in median middle class income stinks?

why can't they just say that record numbers in poverty, on food stamps, on disability, on early social security, mired in longterm joblessness---it's not good enough

not good enough:



Economic recovery is weakest since World War II - Yahoo! News

Exactly my point WHY can't they say anything positive?
 
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