Unemployment drops to 8.9%

[mudwhistle]

Why the Market is Down on What Looks Like Positive Jobless News

• AP: Unemployment Dips to 8.9 pct., 192K Jobs Added
• Gallup: U.S. Unemployment Hitting 10.3% in February
• Network Double Standard: Rising Gas Prices a Bush Problem in 2008, But Obama Gets a Pass
• CBS: Fuel Prices Sore-ing

Libya

Are you saying that people are worried.

Kind of like the way they were worried that the Dems had lost their minds.

And now they aren't because the Repugs won back the House.

Are you saying that the market and the economy can change without Congress passing legislation?

OMG

 

[Toro]

Why the Market is Down on What Looks Like Positive Jobless News

• AP: Unemployment Dips to 8.9 pct., 192K Jobs Added
• Gallup: U.S. Unemployment Hitting 10.3% in February
• Network Double Standard: Rising Gas Prices a Bush Problem in 2008, But Obama Gets a Pass
• CBS: Fuel Prices Sore-ing

Libya

Are you saying that people are worried.

Kind of like the way they were worried that the Dems had lost their minds.

And now they aren't because the Repugs won back the House.

Are you saying that the market and the economy can change without Congress passing legislation?

OMG

Its Libya.

In fact, its not really Libya. Its oil prices spiking because of Libya. If Libya didn't have oil, no one would care.

The market also went down because expectations for an even higher jobs number wasn't realized.

 

[mudwhistle]

Libya

Are you saying that people are worried.

Kind of like the way they were worried that the Dems had lost their minds.

And now they aren't because the Repugs won back the House.

Are you saying that the market and the economy can change without Congress passing legislation?

OMG

Its Libya.

In fact, its not really Libya. Its oil prices spiking because of Libya. If Libya didn't have oil, no one would care.

The market also went down because expectations for an even higher jobs number wasn't realized.

So other then the fact that the government has figured out a sneaky way of counting unemployment figures new jobs legislation isn't the only way to cut unemployment.

Who knows what the cause is. But it's a little disingenuous to claim that the new Congress had nothing to do with the new positive jobs outlook.

I'm not saying that's what you're saying, but somebody did.

 

[Toro]

So other then the fact that the government has figured out a sneaky way of counting unemployment figures new jobs legislation isn't the only way to cut unemployment.

Who knows what the cause is. But it's a little disingenuous to claim that the new Congress had nothing to do with the new positive jobs outlook.

I'm not saying that's what you're saying, but somebody did.

I know the cause.

The stock market is up 35% in six months, a huge move. The market is expecting higher employment, which it generally has received. ADP employment on Wednesday printed +217,000 jobs, well ahead of expectations. New jobless claims on Thursday was 368,000, well below expectations. So the market was expecting a big number on Friday. The nonfarm payrolls came in 192,000, slightly below expectations. That disappointed the market. Increased fighting in Libya caused oil to spike. Oil at $140 or $150 would probably derail this economy. So the market sold off.

I sold down on Wednesday after the market didn't move off the ADP numbers, and sold and hedged everything else in the first half hour of trading on Friday. I expect stocks to have difficulty for awhile, especially with all this unrest in the ME.

 

[Cuyo]

It's better than it was, but not much.

I suspect you've forgotten - Or perhaps never realized - How bad it really was.

 

[pinqy]

I'd still like to know where those 1-2 million dropouts reside now. I wonder if there's any information, like did they return to school? Working under the table? Living with parents again? Sleeping in someone's car? Shelters? I also never quite understood how that number is arrived at, because if they've "dropped out," how were the contacted to know that in the first place?

dropped from the workforce means that they were contacted and either are not looking for work or fall into a category which neither means they are employed or unemployed. Everybody is accounted for here

Employment Situation Summary Table A. Household data, seasonally adjusted

But that still doesn't say what they're doing to live, in lieu of... Thanks for the link, though.

Some are retired, some entered college or other school, some became pregnant, some injured, some are looking after the kids, some are looking after the elderly, some live off their spouse's or child's or parent's income. There are many many reasons for someone to not work or look for work. You realize that it's about 86 million people counted as "not in the labor force."
Not in the labor force does not mean "poor" or in bad shape....it just means not working or looking for work. Many of those "dropped off" start looking. Hell, more people who were "not in the labor force" in January had jobs by Feb than people counted as Unemployed in Jan.

And out of the population altogether are those who emigrate, go to jail or the military or a mental institute.

 

[rightwinger]

Why the Market is Down on What Looks Like Positive Jobless News

• AP: Unemployment Dips to 8.9 pct., 192K Jobs Added
• Gallup: U.S. Unemployment Hitting 10.3% in February
• Network Double Standard: Rising Gas Prices a Bush Problem in 2008, But Obama Gets a Pass
• CBS: Fuel Prices Sore-ing

Libya

Are you saying that people are worried.

Kind of like the way they were worried that the Dems had lost their minds.

And now they aren't because the Repugs won back the House.

Are you saying that the market and the economy can change without Congress passing legislation?

OMG

Worried to the point that the Dow Jones is up 4500 since Obama took office

 

[rightwinger]

It's better than it was, but not much.

I suspect you've forgotten - Or perhaps never realized - How bad it really was.

Do you mean like losing 700,000 jobs a month under Bush?

 

[mudwhistle]

Libya

Are you saying that people are worried.

Kind of like the way they were worried that the Dems had lost their minds.

And now they aren't because the Repugs won back the House.

Are you saying that the market and the economy can change without Congress passing legislation?

OMG

Worried to the point that the Dow Jones is up 4500 since Obama took office

Stock market speculation does not match the overall outlook of the economy. Focusing on the market alone is a fool's game.

The DJIA is merely working it's way up to what it was before the 2008 crash. We knew it would eventually go back up. It was just a matter of how long it would take. Last year it stayed around 10,000, but since the elections in Nov. it has gone up more in less time then it did the 2 years prior. What has changed in that time???

I'm still trying to figure out how you can equate a large percentage of our budget going to paying unemployment benefits translates to an improving economy.

 

[skeptic]

or more on point stocks are performing well simply because 60% of the trades are performed by high speed computers using money that came from the Fed at near zero interest.

 

[Douger]

The majority of my friends in The Falling Empire are self employed. The only ones earning any money are doctors and food farmers. Even the ornamental plant folks are taking a hell of a hit unless they get govt. contracts ( schools, hospitals, roadside projects etc). Even that little bubble is fixin' to burst.
There are an assload of small business owners who's current incomes could easily put them at the same level as "unemployed".

 

[Douger]

Hey Runny. Why is the forum so slow today ? That's two accidental double posts.
This shitty software won't let me edit a post in Google Chrome either. ???

 

[Toro]

Stock market speculation does not match the overall outlook of the economy. Focusing on the market alone is a fool's game.

Hear, hear.

Generally correct. The stock market is a fairly good indicator of the future direction of the economy, but it shouldn't be used as the final arbiter because it can go off on its own tangent.

 

[Truthmatters]

So now policy means nothing and its just the sight of republicans that solve the economys problems?



Wow I wonder why it dove so badly under their complete control?

 

[Stephanie]

Good grief, when the Unemployment drops to even the disgusting rate of 8% and not this little smidgen you are making a mountain out of a mole hill over, then you all might have something to CROW ABOUT. sheesh