Job losses slow to 247,000; jobless rate dips

Discussion in 'Economy' started by mal, Aug 7, 2009.

  1. mal
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    mal Diamond Member

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    Job losses slow to 247,000; jobless rate dips
    News from The Associated Press

    By JEANNINE AVERSA Aug 7, 8:48 AM EDT

    WASHINGTON (AP) -- Employers throttled back on layoffs in July, cutting just 247,000 jobs, the fewest in a year, and the unemployment rate dipped to 9.4 percent, its first decline in 15 months.

    It was a better-than-expected showing that offered a strong signal that the recession is finally ending.

    The new snapshot, released by the Labor Department on Friday, also offered other encouraging news: workers' hours nudged up after sinking to a record low in June, and paychecks grew after having fallen or flat lined in some cases.

    ---

    Back in December/January when I was Predicting this, Most People called me Crazy...

    After all, a Great Depression was on the way... So said the Messiah.

    Tiring.

    This Species should be Less Predictable.

    Carry on.

    :)

    peace...
     
  2. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    I wonder what would be hapenning had we not commited to spending a GAZILLION $$???

    I guess the sky WASN'T falling.... AGAIN.
     
  3. xsited1
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    xsited1 Agent P

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    Obama to take credit for the slight drop in unemployment in 3... 2... 1...
     
  4. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    So we lost ANOTHER 250,000 jobs!!!! WTF

    How can the congress and presidential administration try to spin 1/4 million jobs lost as good news?

    I guess some people are stupid enough to fall for that.

    And if we lost 1/4 million jobs how did the unemployment rate decline? That doesn't add up unless people have moved out of the country or have been dying off in droves.

    EDIT: I found out how the unemployment percentage dropped while the number of unemployed rose. It has to do with how the unemployment number is garnered....the reported percentage of 9.4% is the percentage of previously employed people who filed unemployment claims. A lot of people lost their jobs before Obama became pres and those peoples unemployment benefits have run out, therefore they aren't calling in claims anymore. Hence how you can lose 250,000 jobs and have the unemployment claim percentage drop at the same time.
     
    Last edited: Aug 7, 2009
  5. mascale
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    mascale VIP Member

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    Don't try to do any math with this. Economists and analysts, even: Never do the math themselves. It's the law! And in fact, there is even arithmetic in the law itself, but you don't tell that to the West Wing, or the source law schools. In fact, you don't even tell that to divoirce lawyers, criminal lawyers, and all the others--who are one and the same thing. They are criminal, and divoirce lawyers too(?)!

    That's the law!

    "Crow, James Crow: Shaken, not Stirred!"
    (Surely in post-Colonial, USA--then anyone can see why "Ignorance Of The Law Is No Excuse!")
     
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  6. mal
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    mal Diamond Member

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    Look at all of the Positivity the AP is Finding... When (43) was in Office this kind of News would have been Obessively Focused on the 247,000 Jobs Lost... Would've been the Headline, and would've been Redirected to (43)...

    But Barry Singlehandedly kept us from a Great Depression, and this is what he gets in Return from the AP that Voted for him:

    In good sign, job losses slow as unemployment dips

    By JEANNINE AVERSA
    AP Economics Writer Aug 7, 2:37 PM EDT

    WASHINGTON (AP) -- Employers sharply scaled back layoffs in July, and the unemployment rate dipped for the first time in 15 months, sending a strong signal that the worst recession since World War II is finally ending.

    A net total of 247,000 jobs were lost last month, the fewest in a year. That compares with 443,000 jobs that disappeared in June. And the unemployment rate for July declined to 9.4 percent from 9.5 percent in June.

    The snapshot the Labor Department released Friday offered other encouraging news, too: Workers' hours nudged up after sinking to a record low in June, and paychecks grew after having stagnated or fallen.

    "There's clearly been a turn for the better," said economist Ken Mayland, president of ClearView Economics. "The worst is behind us in terms of layoffs."

    ---

    Classic.

    :)

    peace...
     
  7. Liability
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    Liability Locked Account. Supporting Member

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    The numbers game is revolting.

    The rate at which jobs are being lost is "slowing," so Obamenomics must be "working!" :cuckoo:

    9.4% my foot.

    Prediction: The "numbers" will eventually get "revised" and some dipstick will be astonished to discover that it's more like 11%. THAT will then get dutifully reported as 9.8%. Or, if the Obamabots are daring and creative enough, they will report it as 9.2%

    Yeah. That's the ticket!
     
  8. eagleseven
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    eagleseven Quod Erat Demonstrandum

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    At this rate, we need to lose about 10 million more jobs for Unemployment to fall to 4%.


    Obama is a chef and he's cooking the books...
     
  9. mascale
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    mascale VIP Member

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    The equal dollar amounts of "Cash for Clunkers" have already emptied car lots. Arriving vehicles have likely been sold already.

    Arithmetic works, and even when done badly.

    Bernanke/Bush started propping up the futile economy of, "the rich get richer, and poor get poorer," even before the evidence was in clearly in: That economies set up like that don't work--and in lots of senses of the word. Economies set up like that actually kill people.

    When the evidence started coming in--that economies set up to make the rich richer, and make the poor poorer, don't work even here, in America(?)--then even the federal legislatures came up with bail-outs: To make the rich richer, and to make the poor poorer. These are an educated people.

    The bags of turds who support economies set up like--like Jew Laws in The Third German Republic--intend that people die like dogs in vomit, usually in little work camps, but also in far off places like Iraq or Afghanistan, and in neighboring places. The refugee count from Iraq alone: Exceeds 1.0 mil. And then there is the treatment of the Palestinians by the other great enemy, in the Middle East. Israel tends to raise incomes a fixed percentage--like is done in the surrounding monarchies. The Palestinians are famously down at the bottom rung of the income scale, however, and famously hated by Israel. So Israel masks the attempts at murder as "terrorism:" Israel is engaged in a "War on Terror."

    Even Bush knew a thing or two about, "terrorism." They had all been atomized on 9/11--and then, in fact, they were everywhere! Economics was not one of his skills, however. Bush had an Ivy League degree from Yale University. Senator Lieberman knows about Yale University. The Clintons even sent their own kid to a Shvartze Ivy League school, instead. We know about these things, now, in America!

    The West Wing knows about the bottom rung of the income scale--and about South Chicago: And about their clergy.

    Billy Graham, even: Knows about their clegy, and probably so did Mrs. Billy Graham. President Nixon, and probably Mrs. Nixon--knew about their clergy, even then.

    So the math was done badly, and the stimulus really was slow to take effect--but it had started upwards of two years ago.

    Then the equal amount, "Cash for Clunkers," put a new vehicle within reach of many who would otherwise never own another car: In their lives. Bernake/Bush/West Wing were still in support of, "The Rich Get Richer, and The Poor Get Poorer," kind of "incentives system."

    Summarizing, The dead people killed off, in the Ninth Ward of New Orleans--unable to afford to flee--were, of course, not included. America is like that, when it comes to some people. Israel is like that too, when it comes to some people.

    Analysts seem to think that all the newly reached--would eventually have purchased new cars, down the road(?)! As is already posted, analysts and economists don't do the math--and when they do so, they do it badly. Many people trading in cars right now--may have never been able to trade in for a new car, ever again--According To The Law!

    So actually, the economy is likely to improve--and especially after summer, when the stimulus money that the Obama Administration created--starts to kick in. This is still the economy of Bernanke, Bush & Paulson--of the bail-out of the rich. Anyone recalls that they could spot the Weapons of Mass Destruction--when really there were none--but they couldn't spot the nappy headed ho'meowners: When really there were some.

    Some people have abilities, like that!

    "Crow, James Crow: Shaken, Not Stirred!"
    (Ignorance of The Law--even O. J. Simpson knows--is no excuse: With the hundreds of millions of exceptions, in America!)
     
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    Last edited: Aug 7, 2009
  10. pinqy
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    pinqy Gold Member

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    ummm no....UI claims have nothing to do with the unemployment rate. The Unemployment rate is the percentage of the Labor Force that's unemployed, and the Labor Force is the number of Employed plus the number of Unemployed. So since both Employment and Unemployment went down (people left the Labor Force), the percentage went down.
     

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