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Jobless rate tumbles to near four-year low

biggunsbob

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Aug 6, 2011
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How will the republican propaganda machine spin this.. Obama inherited George Bush and his Neo-con's mess and republicans want to go back to the same old politics that made this mess.. Pretty funny but i see a fucking former rich CEO is blasting the numbers... republicans will stoop at nothing to deceive the American people.. Destroyers of the middle class is the Republicans goal.. Can't wait Mr Romney when we all have to go to the emergency room together.
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WASHINGTON (Reuters) - The U.S. unemployment rate unexpectedly dropped to 7.8 percent in September and reached its lowest level since President Barack Obama took office, providing a boost to his re-election bid.

The Labor Department said on Friday that employers added 114,000 workers to their payrolls last month, a moderate number, but it said a combined 86,000 more jobs were created in the prior two months than it had previously thought.

Other aspects of the report also were strong. In particular, a separate survey of households found a big surge in hiring. That pushed the jobless rate down by 0.3 percentage point to its lowest level since January 2009.

"It's a good report. The picture is still not a great one, but it's not so bad given the unusual headwinds that we have been faced with," said Ray Stone, an economist at Stone & McCarthy Research Associates in Princeton, New Jersey.

Obama said the report showed the economy was making progress while his Republican challenger Mitt Romney said the labor market was not healing fast enough.

Businesses have been hesitant to hire out of concern the U.S. recovery could take a hit from a sharp tightening of the federal budget next year, any worsening of the debt crisis in Europe and a slowdown in the global economy.

So far this year, job gains have averaged 146,000 per month, compared with 153,000 per month in 2011.

Economists had expected the unemployment rate to rise to 8.2 percent in September. The drop last month came even as Americans returned to the labor force to resume the hunt for work. The workforce had shrunk in the prior two months.

The household survey, which can be very volatile month-to-month, showed employment increased 873,000 -- the first rise in three months and the biggest since June 1983. But two-thirds of those were Americans who took a part time job even though they wanted full-time work, a fact that took a bit of the shine off the report.

Economists generally pay the most attention to the job growth figures from the much larger survey of employers. Over time, the surveys track each other, although many economists say the household survey sometimes takes the lead when trends shift.

Taken together, economists said the report broadly signaled a healthier labor market. The employment-to-population ratio, or the proportion of the working-age population with a job, increased to its highest level since May 2010.

Stocks on Wall Street initially rose, with the Dow Jones industrial average touching its highest point in almost five years, but they later retreated to close little changed as investors took profits. The dollar hit a two-week high against the yen, while U.S. Treasury debt prices fell.

U.S. interest rate futures also slipped as traders bet an improving jobs market could lead the Federal Reserve to back off its monetary stimulus earlier than had been expected.

A Reuters poll of top bond dealers, however, showed expectations holding firm that the Fed would end up buying $600 billion under a new stimulus program announced last month.

SPIN DOCTORS

There now remains only one more employment report before the November 6 election, and that comes just four days before voters go to the polls.

"We are moving forward," Obama said as he plead his case during a campaign rally in a Washington suburb. "After losing about 800,000 jobs a month when I took office, our businesses have now added 5.2 million new jobs over the past 2-1/2 years."

"This country has come too far to turn back now."

Despite the progress, the economy is still about 4.5 million jobs short of where it stood when the 2007-09 recession started and Romney sought to remind voters that the labor market was still far from healthy.

"There were fewer new jobs created this month than last month and the unemployment rate, you know, this year has come down very, very slowly," Romney told a large crowd of supporters in Abingdon, Virginia. "The reason it has come down this year is primarily due to the fact that more and more people have just stopped looking for work."

A Reuters/Ipsos poll released on Friday showed Romney narrowing the gap with Obama to only two points since Wednesday's presidential debate, but analysts said Obama was due to get a lift from the jobs numbers.

"Good economic news is good political news. President Obama needed that after the debate and it gives him numerical evidence that his policies are working," said Julian Zelizer of Princeton University.

The surprise drop in the jobless rate led former General Electric CEO Jack Welch to suggest in a tweet that the numbers had somehow been doctored. "These Chicago guys will do anything," he said in a reference to Obama's campaign operation. Welch is a Reuters columnist.

Alan Krueger, a top economic adviser to Obama, said it was irresponsible to question the credibility of the numbers. "That's a ludicrous comment. No serious person believes that the Bureau of Labor Statistics manipulates its statistics," he told Reuters Insider television.

Economists and the BLS also dismissed the conspiracy theory.

FED LIKELY TO KEEP FOOT ON THE GAS

Persistently poor labor market conditions led the Fed in September to announce a plan to buy $40 billion worth of mortgage-backed securities each month until it sees a sustained turnaround in employment.

Despite the brighter signs on the jobs market, analysts said the central bank is unlikely to back off its stimulus anytime soon. After its last meeting, it said it planned to keep policy easy for "a considerable time" even after the recovery strengthened.

"This will be welcome news for the Fed, but given that the unemployment rate remains well above levels deemed consistent with full employment, their policy stance is unlikely to change," said Millan Mulraine, a senior economist at TD Securities in New York.

The Fed's ultra-easy stance has started to free up credit. A report from the Fed showed consumer credit rebounded strongly in August after posting its first decline in nearly a year in July.

Easier credit is supporting retail sales and home construction. Retail employment rose by 9,400, while construction added 5,000 jobs.

There we also gains in transportation and warehousing jobs, which increased 17,100. Financial services employment increased 13,000, and education and health payrolls surged 49,000.

Government payrolls rose 10,000 after increasing 45,000 in August. The gains last month largely reflected state and local government teaching jobs.

However, temporary help jobs, which are often seen as a harbinger of permanent hiring, fell 2,000, and manufacturing payrolls dropped 16,000, a second straight monthly decline. Job losses in the computer and electronics and the transportation sectors led the manufacturing decline.

Average hourly earnings rose 7 cents last month, the largest increase since June, which could support consumer spending, and the length of the average work week also increased slightly, another sign of strength.

http://finance.yahoo.com/news/u-job...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3
 
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Probably the same way the Libs spin everything else or are you new to the place we call Earth.
 
The numbers were so good that the Republicans had to pretend they weren't real. Ouch.

The best number in all of this is that 873,000 more people reported having jobs in September than in August. This accounted for the drop despite the fact that more people entered the job market than left it.
 
The numbers were so good that the Republicans had to pretend they weren't real. Ouch.

The best number in all of this is that 873,000 more people reported having jobs in September than in August. This accounted for the drop despite the fact that more people entered the job market than left it.

Its a little misleading. The fact is more people have left the job market - yes its true, like people on disability etc.
 
lol....the official count was 114,000 jobs...the made up number was 800,000+...yes, 800,000 in one month, LOL. Not even dems believe the number but you simpletons do??
114,000 cant even keep up with what it takes to "sustain" employment.

The "fact" is we have 5 million less jobs today then when Barry took office. He just eliminated them from the count. You need to bone up on the stats.


The "fact" is if we had the same rate of labor force participation now as we did in Jan 2009 the rate would be 11%
 
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And all those jobs losses can be directly linked to the fucking douche bag polices of the 8 years under Republican George fucking Bush...Republicanism Needs to look in the mirror and see how they have done nothing but destroy the middle class and brought on class warfare so we all hate each other. Look what Obama had when he won the election...It was a mess and Bush and his group were to blame... Obama may not be the best of presidents but he is 100 times better then that nit-wit Bush and if that lying piece of crap Mitt Romney gets in expect perpetual warfare for another 25 years.. that is all republicans like to do... Destroy lives and people... Fuck them and they will never get my vote ever again...
 
And all those jobs losses can be directly linked to the fucking douche bag polices of the 8 years under Republican George fucking Bush...Republicanism Needs to look in the mirror and see how they have done nothing but destroy the middle class and brought on class warfare so we all hate each other. Look what Obama had when he won the election...It was a mess and Bush and his group were to blame... Obama may not be the best of presidents but he is 100 times better then that nit-wit Bush and if that lying piece of crap Mitt Romney gets in expect perpetual warfare for another 25 years.. that is all republicans like to do... Destroy lives and people... Fuck them and they will never get my vote ever again...



""""Look what Obama had when he won the election"""""...he ran on fixing the problem...He has made it worse as well as just about everything else, including foreign policy...the guy is a failure, at best
 
Big won't look at that. Lets blame Bush for everything. Bush is not without fault but when Obama stands on 'I will fix the problem" and doesn't (in fact they get worse), he holds blame too. Don't be too blind to not see it.
 
you realize Obama is ....Black, right?


He is. He's Black and you know how "they" are. Right?

Of course Hannity & Co blamed everything on Clinton - including 9/11 - God forbid that after Bush it is no longer the case that the economy ...the world, isn't segmented into 4-8yr presidential cycles covered by the media.
 
you realize Obama is ....Black, right?


He is. He's Black and you know how "they" are. Right?

Of course Hannity & Co blamed everything on Clinton - including 9/11 - God forbid that after Bush it is no longer the case that the economy ...the world, isn't segmented into 4-8yr presidential cycles covered by the media.

Doesn't make it right. That's what they're suppose to do, Hannity and Co. blame the left, NBC and Media blame the right. But us, we should be able to distinguish that Obama pretty much has sucked.
 
""""Look what Obama had when he won the election"""""...he ran on fixing the problem...He has made it worse as well as just about everything else, including foreign policy...the guy is a failure, at best


And yet OBAMA AND HIS ADMINISTRATION got Bin laden... So I guess his foreign policy is not all that bad.. He is gearing down in both Iraq and Afghanistan.. Tell ALL THE families that lost a loved one that Bush and his wars were worth it.. They were not and and they bankrupt this nation and put us on the road to a major recession. But It sure would have been great to have Halliburton stock. Warfare so the rich folks can make money... You betcha with that great congress he tried to work with that blocked everything he tried... And don't give me this he had the congress for 2 year Bullcrap.. He tried to work with the minority Republican's and they filibustered him at every step of the way. Republican recorded more filibusters then any other time in history..
It really is to bad he just didn't tell McConnell and the tan man to shut their pie holes. He should have known better then to think ANY REPUBLICAN WITH POWER would work with him.. He should have just rammed things through like BUSH and his cronies did with... Fuck the republicans...They don't give a rats a$$ about the middle class or poor people.. It is all class warfare and fear. Republican platform to a T...
 
Big won't look at that. Lets blame Bush for everything. Bush is not without fault but when Obama stands on 'I will fix the problem" and doesn't (in fact they get worse), he holds blame too. Don't be too blind to not see it.


Fixing that 8 year mess of BUSH and his bunch of dickheads in four years was a huge stretch and you know it...
 
Fixing that 8 year mess of BUSH and his bunch of dickheads in four years was a huge stretch and you know it...

But was it Bush's fault that it got worse? And maybe we should just follow the chain. INstead of Bush, lets blame Clinton. Instead of blaming Clinton lets blame the first Bush or Ronnie, or Carter or Ford..
 
But was it Bush's fault that it got worse? And maybe we should just follow the chain. INstead of Bush, lets blame Clinton. Instead of blaming Clinton lets blame the first Bush or Ronnie, or Carter or Ford..


Worse in who's eyes... You have to make hard choices to make it better and we all know the health care plan will start saving money down the road.. Bail out the auto industry and save some families lives...Get health insurance to some who don't have it is a good thing. Gear down both wars tat have cost trillions is a good thing.. Please tell me how we are going to afford Mitt's tax breaks? Which loop holes is he going to close.. You can bet your bottom dollar it won't be the loop holes for the top 1 %.. The 8 years under Bush were the worst then just about any president in history.. Go ahead vote for plastic man the destroyer of companies and peoples lives..The Fox propaganda channel has brainwashed the masses..
 
I'm sorry but come on, lol. Even objectively, Obama hasn't done one thing yet. He certainly hasn't done anything for me.
 
Worse in who's eyes... You have to make hard choices to make it better and we all know the health care plan will start saving money down the road.. Bail out the auto industry and save some families lives...Get health insurance to some who don't have it is a good thing. Gear down both wars tat have cost trillions is a good thing.. Please tell me how we are going to afford Mitt's tax breaks? Which loop holes is he going to close.. You can bet your bottom dollar it won't be the loop holes for the top 1 %.. The 8 years under Bush were the worst then just about any president in history.. Go ahead vote for plastic man the destroyer of companies and peoples lives..The Fox propaganda channel has brainwashed the masses..


GDP worse this year than in 2011..
GDP worse in 2011 than in 2010...

work force participation rate worse in 2012 than 2011
work force participation rate worse in 2011 than 2010

get the picture or should I continue?
 
Worse in who's eyes... You have to make hard choices to make it better and we all know the health care plan will start saving money down the road.. Bail out the auto industry and save some families lives...Get health insurance to some who don't have it is a good thing. Gear down both wars tat have cost trillions is a good thing.. Please tell me how we are going to afford Mitt's tax breaks? Which loop holes is he going to close.. You can bet your bottom dollar it won't be the loop holes for the top 1 %.. The 8 years under Bush were the worst then just about any president in history.. Go ahead vote for plastic man the destroyer of companies and peoples lives..The Fox propaganda channel has brainwashed the masses..


Health care plan has $1 T in cost, 75% to hit middle class...
gear down in Iraq?? LOL...the Wars been over for 3 years. Bush & Co had the agreement in place in 2008??? where have you been?

Bush had the same unemployment rate over his 8 yrs as Clinton??? dude, you and Thumber need to get your info from another source
 
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