U.S. unemployment rate goes down

[Chris]

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

 

[Annie]

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.

 

[Xenophon]

Good.

 

[xsited1]

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

Only 443,000 job losses in June???

Time for a PARTY!!!!





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

 

[Xenophon]

I can't picture Obama ever buying a round.

 

[editec]

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.

 

[twogreen2c]

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.

 

[Shogun]

hey, I have an idea! Let's send some more jobs to fucking China!

 

[Chris]

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.

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.

 

[pinqy]

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.

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?

 

[Soaring]

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.

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?

That's true. Check out this non-government application.
Unemployment Help Center

 

[JBeukema]

I can't picture Obama ever buying a round.

I can see him paying with your money

Oh, wait, he already is...

 

[garyd]

First there are at least two ways in which unemployment is tallied. The first is buy new unemployment claims that month. The second is by survey method.

The fat is now gone. That is all that means. If Obama care is passed along with tap and screw, the Jobless numbers will surge. And this time it will be bone and muscle. Me? I'm not worried. I'd be 62 before my unemployment insurance ran out now. And with osteo arthritis of the spine I can likely qualify for disability. However if you are much younger than I am you are screwed.

Edit for once you are right. This won't end anytime soon because the clueless idiots currently in charge are busily trying to fix everything in the world except what the hell is broken.

 

[alan1]

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.

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.

And the first sign of economic recovery is when employees start working in excess of 40 hours a week. Employers don't hire more people when they can just increase the working hours of their current employees without paying overtime.
Vanna want's to know if you'd like to buy a clue?

 

[Douger]

Grab the credit card honey. the recession is over !
Idiot nation.
Democracy ? Nah
Idiocracy.

 

[pete]

Vanna want's to know if you'd like to buy a clue?

Barack Obama, who has seen his standing in public opinion polls slip as Americans fret about the weak economy and high unemployment, said July's jobs report showed the worst "may be behind us." But he cautioned there would be no true recovery as long as the economy continued to shed jobs.

Hes just grabbing for a rope to pull himself up .. hopefully he slips !!

http://www.nytimes.com/reuters/2009/08/08/business/business-uk-usa-economy-payrolls.html

 

[twogreen2c]

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.

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?

Oh this is based on a survey. Big freakin deal. Like I am going to put much faith in the accuracy of some bureaucrat survey.

 

[Dr.House]

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

I'm sure that's a real comfort to those 247,000 people who just lost their jobs in July...

 

[publicprotector]

Peopel actually believe this crap, what 1 million Americans have lost their jobs in the last year but things have got better, how so. The situation only improves when the unemployment figure drops not increases. Its sad to see that there are really stupid people out there who still believe all the crap from the Government, just what will it take for you to wake up?

 

[pete]

Look where the job increases are ...