U.S. unemployment rate goes down

Discussion in 'Current Events' started by Chris, Aug 7, 2009.

  1. Chris
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    Chris Gold Member

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    NEW YORK (CNNMoney.com) -- The long-battered U.S. job market showed some signs of improvement in July as employers cut far fewer jobs from payrolls and the unemployment rate fell for the first time in more than a year, according to a government report Friday.

    The Labor Department reported a net loss of 247,000 jobs in July, the fewest job losses since August 2008. Economists surveyed by Briefing.com had forecast a loss of 325,000.

    The job loss in June was also revised lower -- to 443,000 job losses from 467,000.

    The unemployment rate fell to 9.4% from 9.5% in June, the first decline in that closely watched reading since April of 2008. Economists had expected unemployment to rise to 9.6%.

    Jobs picture brightens - Aug. 7, 2009
     
  2. Annie
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    Annie Diamond Member

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    Yet, no mention of the total number of hours declining, which means people taking cuts in hours or those finding work can only find low paying part-time hours. No mention of those that have stopped looking for work, in the worst economy ever. Now with rising deficits all hope is gone for any recovery.
     
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  3. Xenophon
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    Xenophon Gone and forgotten

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    Good.
     
  4. xsited1
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    xsited1 Agent P

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    Only 443,000 job losses in June???

    Time for a PARTY!!!!

    :beer:

    :happy-1:

    We should invite the 443,000 who lost their job in June. Maybe Obama will pay for the beer.
     
  5. Xenophon
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    Xenophon Gone and forgotten

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    I can't picture Obama ever buying a round.
     
  6. editec
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    editec Mr. Forgot-it-All

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    Recovery from this mess isn't going to happen in a year or four or even ten.

    In fact, thinking in terms of "recovery" is confusing most of us, I suspect

    We are NOT going to have the same economy we once had, folks.

    I'm not at all going to be cured although it will probably get better for most of us.

    All I am sure of is that our expectations for it will change as we become accustomed to our new economic reality and most of us will then begin thinking of whatever comes next as the "normal" economy.

    Modern economies are always changing. Sometimes those changes look like progress and sometimes they look like ....well...this.

    I don't think of those changes as progress so much as I think of those changes as economic and social evolution.
     
  7. twogreen2c
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    twogreen2c VIP Member

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    The unemployment figures Washington puts out is total BS. But there are always those out there who are naive and believe whatever Washington tells you. I have been unemployed for 1 year, 5 months. The clowns in Washington stop counting folks like me once their unemployment benefits run out.
     
  8. Shogun
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    Shogun Free: Mudholes Stomped

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    hey, I have an idea! Let's send some more jobs to fucking China!
     
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  9. Chris
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    Chris Gold Member

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    Obviously you didn't read the link I posted.

    The average hourly work week edged up to 33.1 hours, from a record low of 33.0 hours in June.
     
  10. pinqy
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    pinqy Gold Member

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    No, UI benefits have nothing at all to do with the Unemployment rate...it's not even asked in the survey. To be considered unemployed you must not have worked in the reference week and you must have looked for work in the previous 4 weeks. That's it. Doesn't matter and is not asked if you've ever collected UI. It also doesn't matter how long you've been unemployed, or if you've ever been employed at all. If you actively looked for work in the 4 four weeks before the survey, you're unemployed for that month.

    So how can you say the figures are BS when you clearly don't understand the basic definitions?
     

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