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Economy Sheds 20,000 Jobs But Rate Drops to 9.7 Percent

Kushinator

Kushinator

I'm not-low all the time
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U.S. payrolls unexpectedly fell in January, but the unemployment rate surprisingly dropped to a five-month low, according to a government report Friday that hinted at labor market improvement.

Job Losses

The Labor Department said the economy shed 20,000 jobs after losing 150,000 jobs in December. November was revised to a gain of 64,000, up from 4,000. Annual benchmark revisions to payrolls data showed the economy has purged 8.4 million jobs since the start of the recession in December 2007.

"Even as today's numbers contain signs of the beginning of recovery, they are also a reminder of how far we still have to go to return the economy to robust health and full employment," said White House economic adviser Christina Romer.

"The economy is moving slowly and it takes time for companies to turn around from where they were to where they are going," said Torsten Slok, senior economist at Deutsche Bank in New York.

Analysts speculated the decline in the unemployment rate could see the Federal Reserve raising interest rates sooner than expected.

Financial markets have grown nervous about the prospect of unemployment in the United States remaining high for a long time. The economy resumed growth in the second half of 2009 and labor market healing is crucial for a self-sustaining economic recovery to take root.
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http://www.cnbc.com/id/35254420

Another sign of recovery even though this time of the year is usually opaque. I bolded the part about the Fed raising rates as this might have something to do with the market being spooked. Yields are down across the board on all major Treasuries (world wide) and the dollar is rallying which is a signal of continued downward pressure in equities.
 
Some additional commentary by Bill Gross:

"We think that it's substantially different this time, based upon the fact that instead of levering we're delevering and instead of deregulating we're regulating," Gross said. "Both of those conditions in combination produce a very weak economy, very slow growth and ultimately have effects on asset markets that depend on asset appreciation."

"The growth has been really based on a check not only by the US government but many sovereign governments," he said. "The minute that check disappears the private market is standing very lonesome and on its own legs."

"Four percent growth in the first quarter is probably a reasonable expectation," he said. "But the unemployment is a long-term structural problem."
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http://www.cnbc.com/id/35255832
 
Please use you brain for a minute, and I know it's a lot to axe of Obama worshipers and Liberals in general, but when people fall off the far end of the unemployment rolls they numbers are going to go down.

The numbers are also going to go down because there are fewer jobs left to lose.

When Bush the numb skull in chief I thought is couldn't get worse, but I admit I was wrong.

It was bad when Bush did things that made me wonder how dumb he really was, but now with Obama I have to ask how stupid does this amateur think we are?
 
Obama must have inherited this improvement from Bush.
 
Councilman said:
Please use you brain for a minute,
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:lamo

And you follow it up with this

and I know it's a lot to axe of Obama worshipers and Liberals in general, but when people fall off the far end of the unemployment rolls they numbers are going to go down.

The numbers are also going to go down because there are fewer jobs left to lose.

When Bush the numb skull in chief I thought is couldn't get worse, but I admit I was wrong.

It was bad when Bush did things that made me wonder how dumb he really was, but now with Obama I have to ask how stupid does this amateur think we are?
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Quality commentary:coffeepap
 
Quick, hide this thread from the Obamaphobes or they'll start having strokes... er, never mind. :cool:
 
Councilman said:
Please use you brain for a minute, and I know it's a lot to axe of Obama worshipers and Liberals in general, but when people fall off the far end of the unemployment rolls they numbers are going to go down.

The numbers are also going to go down because there are fewer jobs left to lose.

When Bush the numb skull in chief I thought is couldn't get worse, but I admit I was wrong.

It was bad when Bush did things that made me wonder how dumb he really was, but now with Obama I have to ask how stupid does this amateur think we are?
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I imagine you heard this on Faux Entertainment which is why I don't expect you to produce the source but I have to ask. Source please.
 
Councilman said:
Please use you brain for a minute, and I know it's a lot to axe of Obama worshipers and Liberals in general, but when people fall off the far end of the unemployment rolls they numbers are going to go down.

The numbers are also going to go down because there are fewer jobs left to lose.

When Bush the numb skull in chief I thought is couldn't get worse, but I admit I was wrong.

It was bad when Bush did things that made me wonder how dumb he really was, but now with Obama I have to ask how stupid does this amateur think we are?
Click to expand...

As far as I understand the way the US does its unemployment numbers have not changed since before Bush.
 
Councilman said:
Please use you brain for a minute, and I know it's a lot to axe of Obama worshipers and Liberals in general, but when people fall off the far end of the unemployment rolls they numbers are going to go down.

The numbers are also going to go down because there are fewer jobs left to lose.

When Bush the numb skull in chief I thought is couldn't get worse, but I admit I was wrong.

It was bad when Bush did things that made me wonder how dumb he really was, but now with Obama I have to ask how stupid does this amateur think we are?
Click to expand...

You either didn't read the article or you read it and didn't understand it. So instead you attacked Obama, his supporters, and the poster who took the time to post the article for the rest of us.

You are not contributing anything worthwhile to the thread. If that's the best you can do then please be quiet while the rest of us try to have an adult conversation.
 
Think. Jobless recovery? We stop counting people who dont recieve unemployement ? They found 250,000 jobs?The real problem is The information If we had a news media that wasnt made up of former government employees and Political operatives ; we would see someone ask
The hard questions, like- "Why not manufacture Goods and products at home"?
Why not use the same Laws say: like we did for the, Financial Industry to Start National Manufacturing at home and Spur our own economy? "National Econimic Security", is what the American people want SAY it! Repaet after me.." We want our own jobs and our own Manufacturing base", NOW!
 
b.larset said:
Think. Jobless recovery? We stop counting people who dont recieve unemployement ? They found 250,000 jobs?The real problem is The information If we had a news media that wasnt made up of former government employees and Political operatives ; we would see someone ask
The hard questions, like- "Why not manufacture Goods and products at home"?
Why not use the same Laws say: like we did for the, Financial Industry to Start National Manufacturing at home and Spur our own economy? "National Econimic Security", is what the American people want SAY it! Repaet after me.." We want our own jobs and our own Manufacturing base", NOW!
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WTF are you talking about?
 
PeteEU said:
As far as I understand the way the US does its unemployment numbers have not changed since before Bush.
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Think of what you are saying. We lost 20K jobs but the unemployment rate went down. Stop trying to make this a partisan discussion. Clearly the improvement was not in the numerator # of people employed but rather the denominator number of people working plus those unemployed looking for jobs.

Having this number go down is not really a sign of an economic uptick. Rather it means there are more discouraged workers.

It would be helpful if the media explained the numbers a bit more.
 
We lose more jobs than expected.....yet the unemployment rate dropped.

That tells you all you need to know about the unemployment rate, which in actuality is supposed to be in the 18 percent area.

Meanwhile, unemployed black men ages 18-50 are now almost at 40 percent.
 
Erod said:
We lose more jobs than expected.....yet the unemployment rate dropped.

That tells you all you need to know about the unemployment rate, which in actuality is supposed to be in the 18 percent area.
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U6 unemployment is much different than the U3 measure.

edit: ps this is a hook so partisans be very careful ;)
 
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washunut said:
Think of what you are saying. We lost 20K jobs but the unemployment rate went down. Stop trying to make this a partisan discussion.
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I am not lol. Just stating a fact. This has zero to do with any partisan crap and I was only trying to point that out to the very partisan attacks that came at the start of the thread.

Clearly the improvement was not in the numerator # of people employed but rather the denominator number of people working plus those unemployed looking for jobs.
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I know.

Having this number go down is not really a sign of an economic uptick. Rather it means there are more discouraged workers.
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Yes exactly.

That is why I stated that the method of finding the US unemployment has not changed since before Bush, and hence people cant blame Obama for the "odd numbers". I have been saying for years the US unemployment number method was brain dead and could result in loss of jobs but a fall in unemployment % and viola here we have it.

The blame should be laid at the feet of the way the US makes the unemployment number. That people "fall off" the unemployment numbers just because a certain time has gone and they have not found work, is frankly stupid. It is just as stupid as the Danes hiding unemployment in different education programs during the 1980s and 1990s.

It would be helpful if the media explained the numbers a bit more.
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I agree fully. Most people (American and non American) that read the unemployment number from the US think that is the actual number of people unemployment and compare it to their local unemployment number.. they cant be compared because of the US dumping millions off the lists because they are unemployed for longer than the "allowed" time.
 
"A Labor Department survey of households found that 541,000 more Americans had jobs last month. But most of those gains were attributed to seasonal adjustments to the data. Without those adjustments, which account for reduced hiring during winter, the data show fewer people had jobs last month."

The decrease in unemployment seems to be an artificial number. The Labor Department expects less hiring in January and it adjusts for it. We'll see how well it holds up in future months. I'll be happy if and when it shows a positive trend, not with just a single number increase that was made to look good.

January unemployment rate drops to 9.7 percent - Yahoo! News
 
Councilman said:
Please use you brain for a minute, and I know it's a lot to axe of Obama worshipers and Liberals in general, but when people fall off the far end of the unemployment rolls they numbers are going to go down.

The numbers are also going to go down because there are fewer jobs left to lose.

When Bush the numb skull in chief I thought is couldn't get worse, but I admit I was wrong.

It was bad when Bush did things that made me wonder how dumb he really was, but now with Obama I have to ask how stupid does this amateur think we are?
Click to expand...

Stupid enough get a rise out of those who purposely use the word "axe" as a racial epithet, evidently. :roll:
 
Lets start with the left, and move toward the right!

A confusing employment report this morning: employment down, but unemployment also down. Nor is this a story about workers dropping out of the labor force; the report shows an increase in the employment-population ratio, the percentage of adults who are working.

Payroll numbers come from a survey of firms; unemployment (and employment-population) numbers come from a survey of households. Both surveys are subject to error, both strict statistical sampling error and things like incomplete coverage, uncertain seasonal adjustments, and so on. When employment growth is near zero, on either side, it’s not that surprising that the surveys should point in opposite directions.

The bottom line is that economic numbers are no more than rough indicators. You have been warned.
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Jobs Are Up! I Mean Down! Whatever … - Paul Krugman Blog - NYTimes.com
 
Does anyone have the U6?
 
Goldenboy219 said:
News Headlines

Another sign of recovery even though this time of the year is usually opaque. I bolded the part about the Fed raising rates as this might have something to do with the market being spooked. Yields are down across the board on all major Treasuries (world wide) and the dollar is rallying which is a signal of continued downward pressure in equities.
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Yea, we have seen this kind of math before. Obama must have loved this fuzzy math, because I don't see him ordering it changed. It's all about the politics, not about what's good for America.
 
danarhea said:
Yea, we have seen this kind of math before. Obama must have loved this fuzzy math, because I don't see him ordering it changed. It's all about the politics, not about what's good for America.
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And as usual, the report will be amended next week to reflect the real numbers..... and be buried on page D-26.
 
Damn, that pile of **** Cheney/Bush left behind really screwed us.
 
NoJingoLingo said:
Damn, that pile of **** Cheney/Bush left behind really screwed us.
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And that pile of **** in the White House isn't even buying us dinner first. :roll:
 
Yet yesterday we had this.

Jobless claims rise to 480,000 in latest week - Feb. 4, 2010


The number of Americans filing for initial unemployment insurance rose last week, the government said Thursday.

There were 480,000 initial jobless claims filed in the week ended Jan. 30, the Labor Department said in a weekly report. This is the highest level since Dec. 12 and up 8,000 from an upwardly revised 472,000 the previous week.


Economists were expecting claims to drop to 455,000, according to a consensus estimate from Briefing.com.

The 4-week moving average of initial claims was 468,750, up 11,750 from the previous week's revised average of 457,000.



The drop in percent unemployed is due to those who have given up looking for a Job.
 
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