Employers add 117,000 jobs in July

[rightwinger]

Employers add 117,000 jobs in July, unemployment rate drops - USATODAY.com

WASHINGTON (AP) — Hiring picked up slightly in July and the unemployment rate dipped to 9.1%, an optimistic sign after the worst day on Wall Street in nearly three years.

Employers added 117,000 jobs last month, the Labor Department said Friday. That's better than the past two months, which were also revised higher.

The mild improvement may ease investors' concerns after the Dow Jones industrial average plummeted more than 500 points over concerns that the U.S. may be entering another recession.

Businesses added 154,000 jobs across many industries. Governments cut 37,000 jobs last month. Still, 23,000 of those losses were almost entirely because of the shutdown of Minnesota's state government.

 

[JRK]

Employers add 117,000 jobs in July, unemployment rate drops - USATODAY.com

with respect
these are the numbers that will get BHO re-elected?

 

[uscitizen]

Dumpass, take the numbers as a good sign for America, forget the partisan crap.
Not a very good sign though.

 

[8537]

154,000 private sector jobs is pretty poor, but it's well above expectations and it's improvement.

As important, the previous two months were upgraded significantly. after the early summer figures, this is a slight step in the right direction - especially the manufacturing numbers.

 

[TruthSeeker56]

Employers add 117,000 jobs in July, unemployment rate drops - USATODAY.com

WASHINGTON (AP) — Hiring picked up slightly in July and the unemployment rate dipped to 9.1%, an optimistic sign after the worst day on Wall Street in nearly three years.

Employers added 117,000 jobs last month, the Labor Department said Friday. That's better than the past two months, which were also revised higher.

The mild improvement may ease investors' concerns after the Dow Jones industrial average plummeted more than 500 points over concerns that the U.S. may be entering another recession.

Businesses added 154,000 jobs across many industries. Governments cut 37,000 jobs last month. Still, 23,000 of those losses were almost entirely because of the shutdown of Minnesota's state government.

A typical "good news, bad news" story. The BAD news is that an average of over 400,000 people every WEEK are filing for FIRST TIME unemployment benefits.

Businesses didn't "add" ANYTHING. Only to a leftist does adding 154,000 and subtracting 400,00 leave us with a "positive" number. Must be that "new math".

Then there is the FACT that the U.S. government employment/unemployment statistics don't take into account people who have exhausted their unemployment benefits and still haven't found a job, people who have given up looking for work, people who are working part-time at McDonald's and have a Master's degree, people who are underemployed, and people who have reached the hopeless and helpless stage and have joined the unemployed poor and are collecting food stamps, living in subsidized housing, and are on the Medicaid rolls.

Thanks a bunch for the "hope and change", Barack.

 

[Jarhead]

Dumpass, take the numbers as a good sign for America, forget the partisan crap.
Not a very good sign though.

baby steps are better than no steps at all.

 

[KissMy]

Hey rightwinger - I already started a thread on this at 07:29 AM when the jobs numbers came out. Try & keep up.

See: July Jobs Numbers Up 117K

Now we need a thread merge.

 

[Full-Auto]

Employers add 117,000 jobs in July, unemployment rate drops - USATODAY.com

WASHINGTON (AP) — Hiring picked up slightly in July and the unemployment rate dipped to 9.1%, an optimistic sign after the worst day on Wall Street in nearly three years.

Employers added 117,000 jobs last month, the Labor Department said Friday. That's better than the past two months, which were also revised higher.

The mild improvement may ease investors' concerns after the Dow Jones industrial average plummeted more than 500 points over concerns that the U.S. may be entering another recession.

Businesses added 154,000 jobs across many industries. Governments cut 37,000 jobs last month. Still, 23,000 of those losses were almost entirely because of the shutdown of Minnesota's state government.

How much faith should this SURVEY give us?

If memory serves, and it does. Its summer time.

 

[Jarhead]

154,000 private sector jobs is pretty poor, but it's well above expectations and it's improvement.

As important, the previous two months were upgraded significantly. after the early summer figures, this is a slight step in the right direction - especially the manufacturing numbers.

Who are the ones that forecast?

Afterall, we put credence in their analyses...and as we approach the release of the numbers, their forecasts DO affect business and market decisions.....

Seeing as the administrations top economists admit they misread the economy as it pertained to the stimulus....and we have job forecasters misreading new hire activity...

Maybe we should get better economists?

 

[The Rabbi]

154,000 private sector jobs is pretty poor, but it's well above expectations and it's improvement.

As important, the previous two months were upgraded significantly. after the early summer figures, this is a slight step in the right direction - especially the manufacturing numbers.

Who are the ones that forecast?

Afterall, we put credence in their analyses...and as we approach the release of the numbers, their forecasts DO affect business and market decisions.....

Seeing as the administrations top economists admit they misread the economy as it pertained to the stimulus....and we have job forecasters misreading new hire activity...

Maybe we should get better economists?

These numbers will be revised down next week.
Employers are planning big layoffs. The stock market decline won't help anyone' confidence. I see one of the big banks will now start charging corporate depositors for holding cash in their accounts.
This isn't the sign of anything except "management" by the administration.

 

[8537]

154,000 private sector jobs is pretty poor, but it's well above expectations and it's improvement.

As important, the previous two months were upgraded significantly. after the early summer figures, this is a slight step in the right direction - especially the manufacturing numbers.

Who are the ones that forecast?

anyone with an econ degree willing to offer an opinion to the media.

Afterall, we put credence in their analyses...and as we approach the release of the numbers, their forecasts DO affect business and market decisions.....

Seeing as the administrations top economists admit they misread the economy as it pertained to the stimulus....and we have job forecasters misreading new hire activity...

Maybe we should get better economists?

We don't need better economists - we need better media. Economists are just modelling data and answering questions. Everyone knows that predicting extremely short-term trends in the labor market is wrought with problems.

The media's the ones asking - hard to blame the economists for providing an answer.

on the other hand, a lot of economists like the attention - and they're hucksters

 

[Jarhead]

154,000 private sector jobs is pretty poor, but it's well above expectations and it's improvement.

As important, the previous two months were upgraded significantly. after the early summer figures, this is a slight step in the right direction - especially the manufacturing numbers.

Who are the ones that forecast?

Afterall, we put credence in their analyses...and as we approach the release of the numbers, their forecasts DO affect business and market decisions.....

Seeing as the administrations top economists admit they misread the economy as it pertained to the stimulus....and we have job forecasters misreading new hire activity...

Maybe we should get better economists?

These numbers will be revised down next week.
Employers are planning big layoffs. The stock market decline won't help anyone' confidence. I see one of the big banks will now start charging corporate depositors for holding cash in their accounts.
This isn't the sign of anything except "management" by the administration.

wow...arent you the voice of doom...and on a friday?

I dont agree. I have been seeing positive activity here in the NYC for several months...We have placed over 50 people in the last 3 months on permanent jobs...not due to expansion....but replacing the "dead wood" that was laid off over the last few years.

The market drop yesterday was 4%....I saw the last 2 weeks of drops as a correction....the market did not warrant going up as much as it did over the last year...

But I also see it as something that may prove to be a good thing...

Interest rates for mortgages are going to drop to the 3.5 range...and that may get home sales moving....home sales and re-fis means home rehab and a jump in construction....

Hey...its friday....I am optimistic.

 

[8537]

Businesses didn't "add" ANYTHING. Only to a leftist does adding 154,000 and subtracting 400,00 leave us with a "positive" number. Must be that "new math".

The two data points aren't comparable.

 

[Jarhead]

154,000 private sector jobs is pretty poor, but it's well above expectations and it's improvement.

As important, the previous two months were upgraded significantly. after the early summer figures, this is a slight step in the right direction - especially the manufacturing numbers.

Who are the ones that forecast?

anyone with an econ degree willing to offer an opinion to the media.

Afterall, we put credence in their analyses...and as we approach the release of the numbers, their forecasts DO affect business and market decisions.....

Seeing as the administrations top economists admit they misread the economy as it pertained to the stimulus....and we have job forecasters misreading new hire activity...

Maybe we should get better economists?

We don't need better economists - we need better media. Economists are just modelling data and answering questions. Everyone knows that predicting extremely short-term trends in the labor market is wrought with problems.

The media's the ones asking - hard to blame the economists for providing an answer.

Obamas advising economists "misread" the severity of the economy when they planned and marketed the stimulus.

Not sure how all of those economists misread the economy...afterall, it is what they do...read the economy.......they all should have been fired on the spot.

 

[Jarhead]

Businesses didn't "add" ANYTHING. Only to a leftist does adding 154,000 and subtracting 400,00 leave us with a "positive" number. Must be that "new math".

The two data points aren't comparable.

Actually, they are.
I will make a call and find out what the number is...

But a percentage of those hired were replacements for those fired.

 

[Remodeling Maidiac]

That's good news indeed. Too bad its not even enough to keep pace with the population growth. Kinda makes it mute.

 

[8537]

Obamas advising economists "misread" the severity of the economy when they planned and marketed the stimulus.

Not sure how all of those economists misread the economy...afterall, it is what they do...read the economy.......they all should have been fired on the spot.

Everybody misread the severity in 2008/9. That's why we're just now getting the real GDP data for that period.

Models do a perfectly nice job in normal environments. In outlier environments like the period from late 2007 until now, they don't have much to use a reliable reference point (hence the reason it's an outlier.)

you could argue that we need a whole new version of economic modelling, and I might agree - but no one's quite figured out what that model should look like.

 

[Jarhead]

That's good news indeed. Too bad its not even enough to keep pace with the population growth. Kinda makes it mute.

moot

 

[The Rabbi]

Who are the ones that forecast?

Afterall, we put credence in their analyses...and as we approach the release of the numbers, their forecasts DO affect business and market decisions.....

Seeing as the administrations top economists admit they misread the economy as it pertained to the stimulus....and we have job forecasters misreading new hire activity...

Maybe we should get better economists?

These numbers will be revised down next week.
Employers are planning big layoffs. The stock market decline won't help anyone' confidence. I see one of the big banks will now start charging corporate depositors for holding cash in their accounts.
This isn't the sign of anything except "management" by the administration.

wow...arent you the voice of doom...and on a friday?

I dont agree. I have been seeing positive activity here in the NYC for several months...We have placed over 50 people in the last 3 months on permanent jobs...not due to expansion....but replacing the "dead wood" that was laid off over the last few years.

The market drop yesterday was 4%....I saw the last 2 weeks of drops as a correction....the market did not warrant going up as much as it did over the last year...

But I also see it as something that may prove to be a good thing...

Interest rates for mortgages are going to drop to the 3.5 range...and that may get home sales moving....home sales and re-fis means home rehab and a jump in construction....

Hey...its friday....I am optimistic.

You placed 50 people in already-existing jobs over 3 months and you see that as a positive?
Corporations are planning layoffs, Cisco and some of the banks. Europe is a mess, with Belgium now added to the worry list. Germany does not have enough money to bail out the entire continent. The Euro-Zone looks set for collapse.
Unemployment is high and will probably go higher. Todays numbers will be revised downward.
Oil prices are down because no one has any use for it, no production going on. China's economy is starting to cool.
This was supposed to be the recovery, remember? Instead it looks like the double dip recession I predicted last year.

 

[8537]

Businesses didn't "add" ANYTHING. Only to a leftist does adding 154,000 and subtracting 400,00 leave us with a "positive" number. Must be that "new math".

The two data points aren't comparable.

Actually, they are.
I will make a call and find out what the number is...

But a percentage of those hired were replacements for those fired.

The two numbers are only related by causality. The total number of added jobs is a net number - it's the balance of people laid-off vs. people hired from the establishment survey.

The weekly unemployment claims are simply the number of people who began collecting benefits in a certain week. It's a gross figure.