Today's 'Good' Jobs Report Was Actually Terrible

Discussion in 'Politics' started by Leweman, Oct 5, 2012.

  1. Leweman
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    Leweman Gold Member

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    4. The shrunken workforce remains shrunken. If the labor force participation rate was the same as when President Obama took office, the unemployment rate would be 10.7%. If the participation rate had just stayed steady since the start of the year, the unemployment rate would be 8.4% vs. 8.3%. Where’s the progress? Here is RDQ Economics:
    Such a rapid decline in the unemployment rate would be consistent with 4%–5% real economic growth historically but much of the decline is accounted for by people dropping out of the labor force (over the last year the employment-population ratio has risen to only 58.7% from 58.4%). We believe part of the drop in the unemployment rate over the last two months is a statistical quirk (the household data show an increase in employment of 873,000 in September, which is completely implausible and likely a result of sampling volatility). Moreover, declining labor force participation over the last year (resulting in 1.1 million people disappearing from the labor force) accounts for much of the rest of the decline.

    5. even the artificially depressed 7.8% unemployment rate is way above the 5.6% unemployment rate the White House predicted for September 2012 if Congress passed the $800 billion stimulus package back in 2009.

    Read more: http://www.aei-ideas.org/2012/10/the-sickly-stagnant-september-jobs-report/#ixzz28RJIF9sU


    Read more: http://www.aei-ideas.org/2012/10/the-sickly-stagnant-september-jobs-report/#ixzz28RJ24MZo

    It's not the number so much as it is that Obama is so corrupt and allowed to get away with it. It's scary.
     
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  2. hazlnut
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    hazlnut Gold Member

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    Translation: It's terrible that things are getting better. People are working, paying their bills, buying goods and services.
     
  3. Leweman
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    Leweman Gold Member

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    THINGS AREN"T GETTING BETTER. Why do you hate your country so much to prop up bad numbers as if things ARE getting better.
     
  4. Ravi
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    Ravi Diamond Member

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    Terrible for Romney, the outsourcer in chief. :thup:
     
  5. occupied
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    occupied Gold Member

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    Things are getting better, why do you hate good news? All the numbers are on a sustained upward trend, perhaps not rapidly enough for some but then again the republican leadership have not exactly rolled up their sleeves and pitched in.

     
  6. Full-Auto
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    Full-Auto Gold Member

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    Odd remark for the side that sent billions of stimulus overseas......

    You still suck BTW.........
     
  7. bitterlyclingin
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    bitterlyclingin Silver Member

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    [Obama has an exceedingly firm grip on the "Knucklehead vote", the 47 per cent, you might say. Libyan Ambassador Christopher Stevens was unavailable for comment on this morning's seemigly good labor news.]

    "Something stinks.

    WASHINGTON (AP) – The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The rate declined because more people found work, a trend that could have an impact on undecided voters in the final month before the presidential election.

    The Labor Department said Friday that employers added 114,000 jobs in September. The economy also created 86,000 more jobs in July and August than first estimated. Wages rose in September and more people started looking for work.

    The revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months. The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office.

    The decline could help Obama, who is coming off a disappointing debate performance against GOP challenger Mitt Romney.

    Update: Santelli smells a rat"

    Unemployment Rate Miraculously Drops To 7.8%, 114K Jobs Added – Update: Real Unemployment Rate Unchanged At 14.7% – Update II: Jack Welch Says Numbers Cooked… | Weasel Zippers
     
  8. xsited1
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    xsited1 Agent P

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    I wish things were getting better, but they're not. :(

     
  9. Goodoledays
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    Goodoledays VIP Member

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    :eusa_angel:And getting more food stamps. Oh Boy.
     
  10. bitterlyclingin
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    bitterlyclingin Silver Member

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    The stock market melt up that preceded the Reagan economic rebound saw the shares of MRK go from $67/share to roughly $80/share in a months time, August to September, 1982. That same stock has since split 6 for one so that one $67 Merck share is now worth in the range of $240-$300. Now, thats a recovery. Today's market is still in the process of recovering from its Obama induced hangover. We're probably still going to have to lance those Obama boils, too, before this market can really recover.
     

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