Unemployment drops to 8.9%

Discussion in 'Economy' started by JimH52, Mar 4, 2011.

  1. JimH52
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    JimH52 Gold Member

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  2. xsited1
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    xsited1 Agent P

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    Yes, it is very good. When the Democrats took control of Congress in 2007, I told everyone I cared about to take their money out of the stock market because it's going to crash. Now that we have some real conservatives in the House, I've been slowly putting money back in and cautiously telling others to do the same. We may actually see a real recovery if the conservatives don't cave-in and sell America short again.
     
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  3. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    This is not improvement.

    From the BLS report:

    - The labor force participation rate remained at 64.2% (it was also 64l.2% in January); a year ago it was 64.8%.
    - This means 1.5M people are no longer counted in the labor force adjusted for population growth and the annual decrease in participation.
    - If those 1.5M people were still counted, the unemployment rate would be 9.8%

    The unemployment rate has gone down because more people have given up looking for work due to lack of jobs.

    Table A-1. Employment status of the civilian population by sex and age


    Methdology: (# in 1,000s)

    Civilian population 238,851
    Feb 2010 Paricipation Rate 64.8%
    Civilian Labor force at 2/10 rate 154,775
    Civilial Labor force 2/11 rate 153,246
    The Missing People 1,529
    2/11 Reported U-3 Unemployment 13,673
    U3 Adjusted for Missing People 15,202
    Adjusted U3 Unemployment Rate 9.8%
     
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    Last edited: Mar 4, 2011
  4. JimH52
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    JimH52 Gold Member

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    So the GOP holds majority in the house and have done nothing to create jobs and you will give them credit for the jobs improvement...yeah....

    We are just crawling out of the hole that GW left for us.
     
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  5. Leweman
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    Leweman Gold Member

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    Just republican being elected to office and controlling the house encourages businesses to start to hiring because there is more certainty. You think passing laws and government spending is what creates jobs which is wrong.
     
  6. AquaAthena
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    AquaAthena INTJ/ INFJ

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    The number of "long-term" unemployed, people out of work six months or more, sank to 5.99 million, a decline of 217,000 from January.

    "- This means 1.5M people are no longer counted in the labor force adjusted for population growth and the annual decrease in participation.
    - If those 1.5M people were still counted, the unemployment rate would be 9.8%

    The unemployment rate has gone down because more people have given up looking for work due to lack of jobs."


    Yes that does affect the reality. And the real shame of the existing new jobs picture is that because of gas and food hikes, the new income can't be spent in the economy as purchasing power is flat. So much for NEW job creation. Spring hiring for summer employment usually starts in March and April so we might look forward to job hikes.
     
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  7. Mini 14
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    Mini 14 Senior Member

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    Y'all are kidding, right?

    You understand how they get that number, right?

    Make you a bet it falls next month, and the month after, and the month after.....

    Because at this point in the cycle, it has NOTHING at all to do with job growth. If zero jobs are created this month, the number is going to still fall, for at least the next 3 months......look at a calendar.
     
  8. JimH52
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    JimH52 Gold Member

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    You are delusional. Got turn FOX back on and let them feed you some more "news." The economic cycle is leading to jobs growth. GOP majority in the House has nothing to do with it. They will prove to be just what they are, obstructionalist.
     
  9. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Which "job creating" bill has been passed in the House?
     
  10. xsited1
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    xsited1 Agent P

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    Of course. Businesses are hiring because they see positive changes are coming in Washington. That's the way the world works. Even the stock market goes up on something positive that may happen in the future. Why don't you know this???
     

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