More economic GOOD NEWS: January unemployment rate falls to 9.7%

Discussion in 'Politics' started by rightwinger, Feb 5, 2010.

  1. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    January unemployment rate drops to 9.7% - USATODAY.com

    WASHINGTON (AP) — The unemployment rate dropped unexpectedly in January to 9.7%, while employers shed 20,000 jobs, according to a report that offered hope the economy will add jobs soon.
    The unemployment rate dropped from 10% because a survey of households found the number of employed Americans rose 541,000, the Labor Department said Friday. The job losses are calculated from a separate survey of employers.

    Excluding the beleaguered construction industry, which shed 75,000 jobs, the private sector added 63,000 positions.

    The unemployment rate fell to its lowest level since August. John Silvia, chief economist at Wells Fargo, said the decline wasn't a result of a shrinking labor force, which has held the rate down in previous months.

    "It simply was, people found jobs," he said. The report is "consistent with continued improvement in the labor market."
     
  2. RetiredGySgt
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    RetiredGySgt Platinum Member

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    Once again no new jobs have appeared but we are to believe that as Hundreds of thousands every month lose their jobs some how the Unemployment numbers went DOWN?

    You know how that works right?
     
  3. uscitizen
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    uscitizen Senior Member

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    Yeah peoples unemployment benefits are expiring, this drop in the unemployment rate was predicted because of thoe people running out of unemployment benefits.
     
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  4. Oldandtired
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    Oldandtired BANNED

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    20K jobs were lost so a .03% drop in unemployment simpoly means that 3% of those that are unemployed gave up looking or their unemployemnt benefits expired.

    Sadly, a drop in unemployment coupled with any positive number of jobs lost is a very bad scenario....morale is slipping quickly.
     
  5. VaYank5150
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    VaYank5150 Gold Member

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    According to the righties in a separate thread, "Government does not create jobs", so this should have no reflection on Obama.
     
  6. Contessa_Sharra
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    Contessa_Sharra Searcher for Accuracy

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    Takes a little time, just like it did not get this bad overnight, that took a few years for the "right" to accomplish!
     
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  7. Xenophon
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    Xenophon Gone and forgotten

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    Ah, our weekly 'good news about the economy' thread, to be followed on Monday with the truth, more bad news.

    Instead all this hoping, why don't you wait until there actually is good news?
     
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    Last edited: Feb 5, 2010
  8. Oldandtired
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    Oldandtired BANNED

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    and morale loss as well.

    These numbers are not what they appear on the surface.

    I would prefer to see 10% unemployment and no new unemployment claims.
     
  9. Oldandtired
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    Oldandtired BANNED

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    It does not have any reflection on Obama.
     
  10. VaYank5150
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    VaYank5150 Gold Member

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    You should tell Xenophon that. Of course, he may try to make a bet with you and then run and hide when he loses, so be prepared.
     

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