Job Growth: Better then expected in October.

Discussion in 'Politics' started by Sallow, Nov 5, 2010.

  1. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Republicans expected to take credit for it:

    There have been over a million private sector jobs added since January. All the Republicans have been doing is fighting tooth and nail against every bill and policy that Democrats have put up.

    They deserve absolutely no credit for this. None.
     
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  2. VaYank5150
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    VaYank5150 Gold Member

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    And yet....they will try to take it. Trust me on this one....
     
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  3. WillowTree
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    WillowTree Diamond Member

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    Poll workers. Their jobs are now over.
     
  4. LiberalNut
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    LiberalNut Member

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    Poll workers are in the private sector in your universe Willow?
     
  5. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Just wondering what sort of "Polls" that are being referenced here..:lol:
     
  6. KissMy
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    KissMy Free Breast Exam

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    BIG FAT LIE !!!

    Jobs Have Been Lost Since January

    People fall off the rolls all the time. The unemployment numbers are gamed. Since January 2010 the workforce is shrinking. The real story is the percent of the population that is employed & it is in decline as shown in the US Bureau of Labor & Statistics chart below from the Federal Reserve.

    [​IMG]

    Since the 2006 Election when Democrats took over Congress January 2007 the percent of the population that is employed has tanked. Real people are hurting. Government cronies are living the high life.
    [​IMG]
     
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    Last edited: Nov 5, 2010
  7. uscitizen
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    uscitizen Senior Member

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    From the article:
    "based on a median of estimates from 35 economists surveyed by Reuters."

    Hmm.....
    Those same economists that estimated the economy would rebound in 6 months after the fall?
     
  8. LiberalNut
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    LiberalNut Member

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    Kissy doesn't know what his chart shows, doesn't know how to define unemployed, doesn't know anything really.

    He's an idiot.

    Umm, idiot, you don't measure the number of jobs by a percentage. Duh.
     
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  9. LiberalNut
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    LiberalNut Member

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    Those same economists that estimated the economy would rebound in 6 months after the fall?

    Ummm, the economy DID rebound 6 months after the fall. Employment is a lagging indicator. It takes at least 12 months for fiscal stimulus to show up in the GDP and longer for it to show up in the U3 number. Really, U3 goes up shortly after the GDP uptick cause more people rejoin the labor force.
     
  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Accepting the headline without understanding the full data set is always a fool's game.

    Here's the germane stat: The Labor Participation Rate

    And an excellent commentary:

    The inverse silver lining to today's jobs report that will be lost in the shuffle of what is perceived as a good NFP (despite consistent initial jobless claims of around 450K, which means that either there is a massive data error, or the rate of job creation has somehow surged) is that labor force participation has now dropped to the lowest rate it has been since 1984, at 64.5%. Assuming a reversion to the long-term average participation rate of 66%, means that the civilian labor force is in reality 157.4 million as opposed to the disclosed 153.9 million, a delta of 3.5 million currently unaccounted for.[ Maybe someone can ask the president during his imminent press conference what happened to the unemployed population, which would have been 18.3 if this labor force delta was incorporated, resulting in an unemployment rate of 11.6%.

    Labor Force Participation Rate Drops To 25 Year Low, At 64.5% | zero hedge


    The reason unemployment is not higher is that they have stopped counting the Long Term Unemployed in the figures.

    For a more realistic perspective, shadow stats adjusts out the statistical gimmicks for a revised view:

    Alternate Unemployment Charts

    Net-net, the employement picture is getting worse, not better.
     
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