US Jobs Numbers: 96,000 jobs added (less than the 125,000 expected); 8.1% unemployment rate

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    Sep 07, 2012 12:41 PM GMT
    A disappointment but still a positive number. Means that interest rates will be kept low and a QE3 around the corner? Markets reverse more positive gains, gold rises (anticipation of inflation?).

    http://blogs.wsj.com/marketbeat/2012/09/07/live-from-new-york-its-jobs-friday-17/

    A fresh update on the U.S. employment situation for August hits the wires at 8:30 a.m. New York time offering one of the most important snapshots on how the economy fared last month. Expectations are for 125,000 new jobs to be created — down from 163,000 jobs added in July — with the unemployment rate sticking at 8.3%. [...]

    Ouch. These numbers are terrible. 96,000 was below economists expectations and well below all the whisper numbers floating around. This report could mean QE3 is right around the corner.


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    Sep 07, 2012 12:46 PM GMT
    Updated: "There's no way to color today's jobs report positively despite the drop in the unemployment rate to 8.1% from 8.3%. The number of people in the labor force fell 368K from July and those not in the labor force climbed 581K. Meanwhile, the number of people counted as employed in the household survey falls 119K. There is a 250K drop in those counted as unemployed, but those people fell out of the work force and didn't find jobs."
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    Sep 07, 2012 1:29 PM GMT
    And then there was the petulant speech last night filled with straw men. He's no Bill Clinton.
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    Sep 07, 2012 2:28 PM GMT
    freedomisntfree saidAnd then there was the petulant speech last night filled with straw men. He's no Bill Clinton.

    I liked all his visions for America. Of course no plan to get there or explanation of the increased debt, but it sounded good. Adding a few more visions:

    Everyone has a six pack.

    Everyone has a body fat percentage below 10%.

    A magic HIV prevention pill makes all condoms unnecessary.

    Everyone gets a luxury house on the beach.

    Everyone gets a luxury automobile.
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    Sep 07, 2012 2:38 PM GMT
    socalfitness said
    freedomisntfree saidAnd then there was the petulant speech last night filled with straw men. He's no Bill Clinton.

    I liked all his visions for America. Of course no plan to get there or explanation of the increased debt, but it sounded good. Adding a few more visions:

    Everyone has a six pack.

    Everyone has a body fat percentage below 10%.

    A magic HIV prevention pill makes all condoms unnecessary.

    Everyone gets a luxury house on the beach.

    Everyone gets a luxury automobile.


    Reality is such a downer.
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    Sep 09, 2012 7:02 PM GMT
    http://online.wsj.com/article/SB10000872396390444273704577635681206305056.html

    Mortimer Zuckerman: Those Jobless Numbers Are Even Worse Than They Look

    Still above 8%—and closer to 19% in a truer accounting. Here's a plan for improvement.

    Don't be fooled by the headline unemployment number of 8.1% announced on Friday. The reason the number dropped to 8.1% from 8.3% in July was not because more jobs were created, but because more people quit looking for work.

    The number for August reflects only people who have actively applied for a job in the past four weeks, either by interview or by filling an application form. But when the average period of unemployment is nearly 40 weeks, it is unrealistic to expect everyone who needs a job to keep seeking work consistently for months on end. You don't have to be lazy to recoil from the heartbreaking futility of knocking, week after week, on closed doors.

    How many people are out of work but not counted as unemployed because they hadn't sought work in the past four weeks? Eight million. This is the sort of distressing number that turns up when you look beyond the headline number.

    Here's another one: 96,000—that's how many new jobs were added last month, well short of the anemic 125,000 predicted by analysts, and dramatically less than the (still paltry) 139,000 the economy had been averaging in 2012.

    The alarming numbers proliferate the deeper you look: 40.7% of the people counted as unemployed have been out of work for 27 weeks or more—that's 5.2 million "long-term" unemployed. Fewer Americans are at work today than in April 2000, even though the population since then has grown by 31 million.

    We are still almost five million payrolls shy of where we were at the end of 2007, when the recession began. Think about that when you hear the Obama administration's talk of an economic recovery.

    The key indicator of our employment health, in all the statistics, is what the government calls U-6. This is the number who have applied for work in the past six months and includes people who are involuntary part-time workers—government-speak for those individuals whose jobs have been cut back to two or three days a week.

    They are working part-time only because they've been unable to find full-time work. This involuntary army of what's called "underutilized labor" has been hovering for months at about 15% of the workforce. Include the eight million who have simply given up looking, and the real unemployment rate is closer to 19%.

    In short, the president's ill-designed stimulus program was a failure. For all our other national concerns, and the red herrings that typically swim in electoral waters, American voters refuse to be distracted from the No. 1 issue: the economy. And even many of those who have jobs are hurting, because annual wage increases have dropped to an average of 1.6%, the lowest in the past 30 years. Adjusting for inflation, wages are contracting.
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    Sep 09, 2012 7:06 PM GMT
    http://www.breitbart.com/Big-Government/2012/09/08/173k-food-stamps-96k-new-jobs

    OBAMANOMICS: 173K NEW FOOD STAMP RECIPIENTS, 96K NEW JOBS

    It's like a corrupt media ritual. The moment a Republican enters the Oval Office, America's homeless are suddenly discovered, dragged before news cameras, and used as props to prove how heartless the current administration is. But as soon as a Democrat assumes office, the homeless suddenly disappear – presumably to a place with chocolate rivers and peppermint trees that only Democrat presidents are able to magically manifest as soon as the oath of office is complete.

    The media's been even worse with Barack Obama. Not only have the homeless vanished from news coverage, but so have America's poor. But as NBC's David Gregory made clear, if you even try to bring up the record number of food stamp recipients Barack Obama's failed policies have created, you'll be labeled a racist.

    Beyond food stamps, by some reports, the poverty level itself is set to explode to record levels in the fall once a new census report is released. But if past is prologue, you can expect the media to smother that news, because over the last few days, the media has smothered this news:
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    Sep 09, 2012 7:23 PM GMT
    This may be the one, two knockout Mitt needs, to give America the change, Obama promised.
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    Sep 10, 2012 11:11 AM GMT
    http://www.bostonherald.com/news/opinion/editorials/view/20220908another_dismal_month/

    Another dismal month

    The celebration confetti hadn’t even been swept from the floor of the Democratic National Convention when the latest jobs numbers were released — and they aren’t pretty.

    So President Barack Obama can talk all he wants — as he did Thursday night — about “moving forward,” but the dismal 8.1 percent unemployment rate dipped slightly only because more than half a million Americans had stopped even looking for work. And that is the saddest news of all. If those who had stopped looking for work and those working part time when they would rather work full time were factored in, the real unemployment number would be 14.7 percent.

    Oh sure, the administration pointed to the 96,000 private sector jobs added to the economy last month. But it takes 150,000 new jobs just to keep pace with population growth, and it would take more than 350,000 new jobs each month for the next three years to bring the unemployment down to a respectable 6 percent.
  • jock_1

    Posts: 1491

    Sep 10, 2012 4:35 PM GMT
    RECOVERY SUMMER !!! failicon_cry.gif
  • GQjock

    Posts: 11649

    Sep 10, 2012 7:23 PM GMT
    But then when Romney goes on Meet the Press and asked what he is gonna do for the economy ........ NUTHIN

    He won't say

    When asked what Tax Loop Holes he's gonna close to help pay for the Tax cuts he promised for the wealthy again.... MORE NUTHIN


    You got a problem republicans
    he's promisin alot of Sh*t without havin a way to pay for it

    Sound Familiar???

    Sounds the same as OrgTeh WTeh UshBeh icon_biggrin.gif
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    Sep 10, 2012 7:28 PM GMT
    jock_1 saidRECOVERY SUMMER !!! failicon_cry.gif


    The oddity is that there are so many here who want more of the same.
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    Sep 10, 2012 7:50 PM GMT
    riddler78 said
    jock_1 saidRECOVERY SUMMER !!! failicon_cry.gif


    The oddity is that there are so many here who want more of the same.
    Employees? You bet!
    http://www.realjock.com/gayforums/2661384