Employers add 117,000 jobs in July

[Zander]

Forest, meet the Trees. Looking at the jobs numbers and getting excited is akin to saving a photo album while your house burns down.

The problem is DEBT. We have too much, the entire world has too much. The US has run annual budget deficits for about 80 years straight with few exceptions. Usually it is not a problem- the key is to keep the annual deficits below the rate of GDP growth. If you do, then deficits are manageable. You have more growth in the economy than increase in debt and the ratio of debt/GDP remains the same or gets lower.

Where it gets dicey is in times like now- we have very little or negative GDP growth and the cyclical deficit increase (that is the deficit spending made during times of economic downturns) is overwhelming. TARP, QE, Stimulus, etc..

In 2 short years we've gone from roughly 60% debt/GDP to 100%! The only way out of the mess is through government austerity - but that will send us into a recession* (see below) and the politicians do not have the long term perspective required to make those decisions. They want to be re-elected! They don't care about the country beyond the next election cycle.

We have tough choices to make about taxes, entitlements, and the overall role of government. 2012 will be all about those decisions.

* GDP = C + I + G + Net exports
C= Consumption (consumer and business) I=investment G= Government spending.
If we freeze spending at current levels we will have 8% less spending next year. The government spends 25% of GDP currently so 8% less spending will reduce GDP by at least 2%. With GDP growth at less than 2% now- this will mean a recession.

 

[rightwinger]

Employers add 117,000 jobs in July, unemployment rate drops - USATODAY.com

with respect
these are the numbers that will get BHO re-elected?

Who cares?

An economic recovery is good for the whole country, regardless of your political leanings

 

[The Rabbi]

Employers add 117,000 jobs in July, unemployment rate drops - USATODAY.com

with respect
these are the numbers that will get BHO re-elected?

Who cares?

An economic recovery is good for the whole country, regardless of your political leanings

You call one number an economic recovery??
Weren't you the one predicting last year we would be below 7% unemployment by now?

 

[rightwinger]

These numbers will be revised down next week.
Employers are planning big layoffs. The stock market decline won't help anyone' confidence. I see one of the big banks will now start charging corporate depositors for holding cash in their accounts.
This isn't the sign of anything except "management" by the administration.

wow...arent you the voice of doom...and on a friday?

I dont agree. I have been seeing positive activity here in the NYC for several months...We have placed over 50 people in the last 3 months on permanent jobs...not due to expansion....but replacing the "dead wood" that was laid off over the last few years.

The market drop yesterday was 4%....I saw the last 2 weeks of drops as a correction....the market did not warrant going up as much as it did over the last year...

But I also see it as something that may prove to be a good thing...

Interest rates for mortgages are going to drop to the 3.5 range...and that may get home sales moving....home sales and re-fis means home rehab and a jump in construction....

Hey...its friday....I am optimistic.

You placed 50 people in already-existing jobs over 3 months and you see that as a positive?
Corporations are planning layoffs, Cisco and some of the banks. Europe is a mess, with Belgium now added to the worry list. Germany does not have enough money to bail out the entire continent. The Euro-Zone looks set for collapse.
Unemployment is high and will probably go higher. Todays numbers will be revised downward.
Oil prices are down because no one has any use for it, no production going on. China's economy is starting to cool.
This was supposed to be the recovery, remember? Instead it looks like the double dip recession I predicted last year.

Downer...

Somebody wants the economy to fail

 

[thereisnospoon]

Employers add 117,000 jobs in July, unemployment rate drops - USATODAY.com

WASHINGTON (AP) — Hiring picked up slightly in July and the unemployment rate dipped to 9.1%, an optimistic sign after the worst day on Wall Street in nearly three years.

Employers added 117,000 jobs last month, the Labor Department said Friday. That's better than the past two months, which were also revised higher.

The mild improvement may ease investors' concerns after the Dow Jones industrial average plummeted more than 500 points over concerns that the U.S. may be entering another recession.

Businesses added 154,000 jobs across many industries. Governments cut 37,000 jobs last month. Still, 23,000 of those losses were almost entirely because of the shutdown of Minnesota's state government.

big deal.
.Until the federal government releases it's strangle hold on the economy. Government must get out of the way of business and allows the home market to bottom out, our economy will remain in a malaise. Consumer confidence is at historic lows right now.

 

[rightwinger]

with respect
these are the numbers that will get BHO re-elected?

Who cares?

An economic recovery is good for the whole country, regardless of your political leanings

You call one number an economic recovery??
Weren't you the one predicting last year we would be below 7% unemployment by now?

Shit...I was wrong wasn't I?

Doesn't mean we can't be glad for a little good news on the jobs front does it?

Oh....I forgot, your the Rabbi

Economy must fail....economy must fail

 

[CrusaderFrank]

Employers add 117,000 jobs in July, unemployment rate drops - USATODAY.com

WASHINGTON (AP) — Hiring picked up slightly in July and the unemployment rate dipped to 9.1%, an optimistic sign after the worst day on Wall Street in nearly three years.

Employers added 117,000 jobs last month, the Labor Department said Friday. That's better than the past two months, which were also revised higher.

The mild improvement may ease investors' concerns after the Dow Jones industrial average plummeted more than 500 points over concerns that the U.S. may be entering another recession.

Businesses added 154,000 jobs across many industries. Governments cut 37,000 jobs last month. Still, 23,000 of those losses were almost entirely because of the shutdown of Minnesota's state government.

"Well, I'm here to tell you, some time in the next couple of months, we're going to be creating between 250,000 jobs a month and 500,000 jobs a month." -- Joe Biden April, 2010

 

[Avorysuds]

Recovery!!

Oh yeah, and with the stimulus money gone, the debt ceiling be held hostage the question is... How did we get more jobs in that "hostage" month than some of the months before? It's almost like 100% proof Obama's policies did absolutely zero! This of course is if these numbers are accurate, and they are probably not.


Time for people like TM/Zona/RW/Swallow to flip flop around onthemselves! You could always just attack people for not just being happy when there is good (really bad still but we'll just call it *good*) news!

Repost for a dup thread!

 

[Avorysuds]

Who cares?

An economic recovery is good for the whole country, regardless of your political leanings

You call one number an economic recovery??
Weren't you the one predicting last year we would be below 7% unemployment by now?

Shit...I was wrong wasn't I?

Doesn't mean we can't be glad for a little good news on the jobs front does it?
Oh....I forgot, your the Rabbi

Economy must fail....economy must fail

Oh shiiiiit lol, I called it! Attack people for not accepting horrible news as "good news."

Lets roll back time Ohhh to lets say 1 year ago, when RW was making thread after thread of how Obama is absolutely, for sure this time, it's happening, no doubt the recovery is happening now. Then we can watch him rabidly attack anyone that says these numbers are shitty at best.

Nice to know some people stay the same, like today, only with worse numbers!

 

[Full-Auto]

Oh yeah, and with the stimulus money gone, the debt ceiling be held hostage the question is... How did we get more jobs in that "hostage" month than some of the months before?


LOL HAT TIP!!!!

 

[whitehall]

I bet the labor dept spent a long damn night cooking the books and the best they could come up with is a "revised" 9.1% instead of 9.2. Temporary government work like cutting grass on the highway might look like a jobs spike to radical Obamites and I guess it's the best we can do these days.

 

[Full-Auto]

I bet the labor dept spent a long damn night cooking the books and the best they could come up with is a "revised" 9.1% instead of 9.2. Temporary government work like cutting grass on the highway might look like a jobs spike to radical Obamites and I guess it's the best we can do these days.

Is this what the "SUMMER OF RECOVERY" looks like?

 

[Avorysuds]

And here is TM in another thread on this issue...

Stop fighting the recovery and you will see better numbers

Its too easy to predict you people... So the economy didn't get better last year because it somehow knew people would be honest and point out bad numbers today. I mean really, how do you begin to argue with logic like that.

 

[Avorysuds]

I bet the labor dept spent a long damn night cooking the books and the best they could come up with is a "revised" 9.1% instead of 9.2. Temporary government work like cutting grass on the highway might look like a jobs spike to radical Obamites and I guess it's the best we can do these days.

Is this what the "SUMMER OF RECOVERY" looks like?

I'd say the "Summer of recovery" is Obama's "Mission accomplished" but really "Ending the war in Iraq" is Obama's mission accomplished... Obama literally plans on "Re-ending the war in Iraq for realz this time" just before elections. Amazing!

 

[CrusaderFrank]

So the Tea Party holding Obama hostage was a good thing after all.

 

[Avorysuds]

Employers add 117,000 jobs in July, unemployment rate drops - USATODAY.com

with respect
these are the numbers that will get BHO re-elected?

Who cares?

An economic recovery is good for the whole country, regardless of your political leanings

I do love that DC has managed to brainwash everyone into calling the economic collapse into a "recovery" despite at not a single point did things get better... Recovery now means "If things get worse slower under Obama it's good news and counts as a recovery."

I wonder how many people wish their health were described as the Obama Recovery... I'm definitely dying, just a bit slower... So I call it a recovery to make myself feel better... LOL.

 

[Avorysuds]

So the Tea Party holding Obama hostage was a good thing after all.

LOL, I know, that's what I said. No more stimulus and the country held hostage and we see numbers better than some months of the full on Obama policy/money trying to make it better.

 

[Full-Auto]

I bet the labor dept spent a long damn night cooking the books and the best they could come up with is a "revised" 9.1% instead of 9.2. Temporary government work like cutting grass on the highway might look like a jobs spike to radical Obamites and I guess it's the best we can do these days.

Is this what the "SUMMER OF RECOVERY" looks like?

I'd say the "Summer of recovery" is Obama's "Mission accomplished" but really "Ending the war in Iraq" is Obama's mission accomplished... Obama literally plans on "Re-ending the war in Iraq for realz this time" just before elections. Amazing!

Ending the war? We have 50k supply clerks still there.

 

[Avorysuds]

Is this what the "SUMMER OF RECOVERY" looks like?

I'd say the "Summer of recovery" is Obama's "Mission accomplished" but really "Ending the war in Iraq" is Obama's mission accomplished... Obama literally plans on "Re-ending the war in Iraq for realz this time" just before elections. Amazing!

Ending the war? We have 50k supply clerks still there.

I know, he ended Combat missions in Iraq or something... Yet people still get killed there like everyday.

 

[CrusaderFrank]

Obama killed bin Laden too