More economic good news: Unemployment rate drops

Discussion in 'Politics' started by rightwinger, Aug 7, 2009.

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

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    WASHINGTON (AP) — Employers throttled back on layoffs in July, cutting just 247,000 jobs, fewest in a year, and the unemployment rate dipped to 9.4%. 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.

    To be sure, the report still indicates the jobs market is on shaky ground. But the new figures were better than many analysts expected and offered welcomed improvements to a jobs market that has been clobbered by recession.

    Analysts were forecasting job losses to slow to around 320,000 and the unemployment rate to tick up to 9.6%.

    The dip in the unemployment rate — from June's 9.5% — was the first since April 2008. One of the reasons the rate went down, however, was because hundreds of thousands of people left the labor force. Fewer people, though, did report being unemployed.
     
  2. nodoginnafight
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    nodoginnafight No Party Affiliation

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    Good news - we've still got a lot of work to do, but this is welcome news.
     
  3. ozzmdj
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    ozzmdj Senior Member

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    If you don't know that people that have run OUT of unemployment benefits are NOT counted then you have allot to learn about the real state of the US economy.
     
  4. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    I have a serious question for you.....use your noggin while you read those numbers.

    How can you Lose 250,000 jobs yet have the percentage of people unemployed drop.

    Its a numbers fudge in action and many are being fooled by it...maybe Ozzmdj just explained it though.....people are coming off unemployment because their benefits have expired therefore the unemployment number is lower while the actuall number of unemployed still increased by 250k people.
     
  5. nodoginnafight
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    nodoginnafight No Party Affiliation

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    always funny to see the zealots try to spin a positive into a negative to pursue hyper-partisan political aspirations.......

    That's how the GOP lost THIS member
     
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  6. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    well someone obviously has a dog in this fight......do I have to do the math out in a post for you?
     
  7. nodoginnafight
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    nodoginnafight No Party Affiliation

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    Nope - no dog in this fight - I'm glad to see things on the upswing - but I've always said a POTUS gets more credit than they deserve when things are going well economically and POTUS always gets more blame than they deserve when the economy tanks. I believe there are bigger factors at work.

    I just always find it amusing when the hyper-zealots try to spin things to suit their own very narrow objectives.

    I'm sorry if it offends you when I refuse to swallow your spin - but I'm not going to pretend you make a valid point just so you don't get your panties in a twist.

    Like it or not, the economy is on the rebound and if that means you are losing a spin-point, that's just your tough luck.
     
  8. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    Here let me use simple numbers so the math is easy. (I'm not being overly technical and I know that the total population is not where we get the employment numbers from, I'm simplifying it for easy comprehension)

    Lets say there are 300,000,000 American citizens and 9.5% of them are unemployed.

    That would mean that 28,500,000 people are unemployed.

    add 250,000 to the number and you get 28,750,000 million unemployed.



    However, if the population is still 300,000,000 citizens and you have 28,750,000 unemployed persons you end up with an unemployment rate of 9.6%.

    Now if the population is still 300,000,000 citizens and you drop the rate to 9.4% you end up with 28,200,000 people unemployed.

    Those numbers in the story just dont add up without either someone fudging them or the overall population of the USA decreasing.

    That should be enough to help you comprehend my point. Math is non-partisan dude :lol:
     
    Last edited: Aug 7, 2009
  9. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    The problem for the republicans now is that they voted against rescuing the banks, voted against saving the auto companies, voted against the economic stimulus plan all in an attempt to prevent an economic recovery.

    Now we have the index of leading economic indicators up for the third month in a row, the stock market surging, housing sales up and the rise in unemployment subsiding. Leading economists are all predicting a reversal of the recession.

    Without the economic disaster that republicans predicted to occur once Obama took office, what are republicans going to run on?
    A birth certificate?
     
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  10. nodoginnafight
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    nodoginnafight No Party Affiliation

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    That's it in a nutshell for sure. :clap2:
     

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