Job Growth: Better then expected in October.

[Sallow]

Republicans expected to take credit for it:

It was the latest of some stronger-than-expected data on the U.S. economy, including Monday's report showing surprisingly strong growth last month in the U.S. manufacturing sector, and among the last bits of data before Wednesday's expected Federal Reserve announcement on monetary easing.

On Friday, the U.S. government is due to report its monthly jobs data, and the ADP is sometimes used by economists to update expectations for those numbers.

In the ADP data, "you have a net surprise of 60,000 or so, which is a meaningful amount and probably raises expectations at least at little bit for Friday's employment report," said Zach Pandl, economist, Nomura Securities in New York.

Private sector October job growth beats expectations - Yahoo! News

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.

 

[VaYank5150]

Republicans expected to take credit for it:

It was the latest of some stronger-than-expected data on the U.S. economy, including Monday's report showing surprisingly strong growth last month in the U.S. manufacturing sector, and among the last bits of data before Wednesday's expected Federal Reserve announcement on monetary easing.

On Friday, the U.S. government is due to report its monthly jobs data, and the ADP is sometimes used by economists to update expectations for those numbers.

In the ADP data, "you have a net surprise of 60,000 or so, which is a meaningful amount and probably raises expectations at least at little bit for Friday's employment report," said Zach Pandl, economist, Nomura Securities in New York.

Private sector October job growth beats expectations - Yahoo! News

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.

And yet....they will try to take it. Trust me on this one....

 

[WillowTree]

Poll workers. Their jobs are now over.

 

[LiberalNut]

Poll workers are in the private sector in your universe Willow?

 

[Sallow]

Poll workers are in the private sector in your universe Willow?

Just wondering what sort of "Polls" that are being referenced here..

 

[KissMy]

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.

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.

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.

 

[uscitizen]

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?

 

[LiberalNut]

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.

 

[LiberalNut]

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.

 

[boedicca]

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.

 

[LiberalNut]

they have stopped counting the Long Term Unemployed in the figures.

Wrong. How long you've been unemployed makes absolutely no difference. None.

 

[boedicca]

You are a moron.

Read the data:

Employment Situation Summary Table A. Household data, seasonally adjusted

And learn about the various measures of Unemployment

http://www.bls.gov/news.release/empsit.t15.htm

 

[rightwinger]

they have stopped counting the Long Term Unemployed in the figures.

Wrong. How long you've been unemployed makes absolutely no difference. None.

Long term unemployed affects the unemployment rate

They do not affect the number of jobs added to the economy

 

[iggy pop]

Republicans expected to take credit for it:

It was the latest of some stronger-than-expected data on the U.S. economy, including Monday's report showing surprisingly strong growth last month in the U.S. manufacturing sector, and among the last bits of data before Wednesday's expected Federal Reserve announcement on monetary easing.

On Friday, the U.S. government is due to report its monthly jobs data, and the ADP is sometimes used by economists to update expectations for those numbers.

In the ADP data, "you have a net surprise of 60,000 or so, which is a meaningful amount and probably raises expectations at least at little bit for Friday's employment report," said Zach Pandl, economist, Nomura Securities in New York.

Private sector October job growth beats expectations - Yahoo! News

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.

Temporary seasonal work for the holidays. Lets talk about the rise in unemployment in January ok?

 

[iggy pop]

You are a moron.

Read the data:

Employment Situation Summary Table A. Household data, seasonally adjusted

And learn about the various measures of Unemployment

Table A-15. Alternative measures of labor underutilization

Pretty risky assumption assuming they can read, let alone comprehend.

 

[LiberalNut]

Of course it doesn't effect jobs created and length of unemployment status makes NO DIFFERENCE. As long as you are still activel seeking work but don't have a job, you are fucking unemployed.

How do we get around these numbers? We'll redefine even U6!

Idiots.

 

[boedicca]

they have stopped counting the Long Term Unemployed in the figures.

Wrong. How long you've been unemployed makes absolutely no difference. None.

Long term unemployed affects the unemployment rate

They do not affect the number of jobs added to the economy

No, the long term unemployed who have given up looking are not included in the 9.6% (U3 definition of unemployment).

# U1: Percentage of labour force unemployed 15 weeks or longer.
# U2: Percentage of labour force who lost jobs or completed temporary work.
# U3: Official unemployment rate per ILO definition.
# U4: U3 + "discouraged workers", or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.
# U5: U4 + other "marginally attached workers", or "loosely attached workers", or those who "would like" and are able to work, but have not looked for work recently.
# U6: U5 + Part time workers who want to work full time, but cannot due to economic reasons

Unemployment - Wikipedia, the free encyclopedia


The official U6 rate is 17%. The Shadow Stat version which adds back people who are no longer counted at all in the labor force is 22.5%. That is the real Unemployment Rate, and why our economy is not in a real recovery.

 

[NYcarbineer]

they have stopped counting the Long Term Unemployed in the figures.

Wrong. How long you've been unemployed makes absolutely no difference. None.

Long term unemployed affects the unemployment rate

They do not affect the number of jobs added to the economy

No, the long term unemployed who have given up looking are not included in the 9.6% (U3 definition of unemployment).

# U1: Percentage of labour force unemployed 15 weeks or longer.
# U2: Percentage of labour force who lost jobs or completed temporary work.
# U3: Official unemployment rate per ILO definition.
# U4: U3 + "discouraged workers", or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.
# U5: U4 + other "marginally attached workers", or "loosely attached workers", or those who "would like" and are able to work, but have not looked for work recently.
# U6: U5 + Part time workers who want to work full time, but cannot due to economic reasons

Unemployment - Wikipedia, the free encyclopedia


The official U6 rate is 17%. The Shadow Stat version which adds back people who are no longer counted at all in the labor force is 22.5%. That is the real Unemployment Rate, and why our economy is not in a real recovery.

Those numbers raise any unemployment number from any year.

When Bush left office the official unemployment rate was 7.7%. U-6 was 14%.

 

[boedicca]

And Obama has increased U3 to 9.6% and U6 to 17%.

How Hopey Changey!

Obamanomics = Epic Fail, as the voters judged on Nov. 2nd.

 

[iggy pop]

And Obama has increased U3 to 9.6% and U6 to 17%.

How Hopey Changey!

Obamanomics = Epic Fail, as the voters judged on Nov. 2nd.

Yea, but those figures only cost us a trillion dollars and years in debt.