US economy adds 171K jobs, rate rises to 7.9 pct.

Discussion in 'Economy' started by Freewill, Nov 2, 2012.

  1. Freewill
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    Freewill Gold Member

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    Most economist believe that the statistics are cooked.

    US economy adds 171K jobs, rate rises to 7.9 pct.

    US economy adds 171K jobs, rate rises to 7.9 pct. - Yahoo! News

    WASHINGTON (AP) — U.S. employers added 171,000 jobs in October and hiring was stronger over the previous two months than first thought. The unemployment rate inched up to 7.9 percent from 7.8 percent in September.

    The Labor Department's last look at hiring before Tuesday's election sketched a picture of a job market that is gradually gaining momentum after nearly stalling in the spring.
     
  2. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    The October employment report has proved yet again that retailers hire additional help for Christmas starting in October
     
  3. oldfart
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    oldfart Older than dirt

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    I was not aware you spent time hanging out with economists. In what way do you consider the numbers cooked?
     
  4. pinqy
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    pinqy Gold Member

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    Ok, take a look at the actual data: Table B-1 On the left you'll see "not seasonally adjusted" and that shows 133,881,000 jobs in September and 134,792,000 for October. A change of 911,000.
    On the right, under "Seasonally Adjusted" which shows 133,584,000 for September and 133,755,000 for October, a change of 171,000

    The official numbers are seasonally adjusted to account for seasonal trends.

    Once again the change including seasonal hiring was +911,000, adjusted down to 171,000.
     
  5. Toronado3800
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    Toronado3800 VIP Member

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    Bump:

    This is a reasonable topic on an important issue.

    We can fairly debate what it means each way.
     

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