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road kill
09-07-2012, 08:55 AM
Anyone get a chance to reveiw the report??

How's it looking???

96,000 new jobs nationwide???:cool:

Maybe someone can explain how this is good..................



US economy adds 96K jobs; unemployment rate falls to 8.1 pct. as more people end job searches


By Christopher s Rugaber, AP Economics Writer | Associated Press – 3 minutes 31 seconds ago....Email
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WASHINGTON (AP) -- U.S. employers added 96,000 jobs last month, a weak figure that could slow any momentum President Barack Obama hoped to gain from his speech to the Democratic National Convention.

The unemployment rate fell to 8.1 percent from 8.2 percent in July, the Labor Department said Friday. But that was only because more people gave up looking for work. The government only counts people as unemployed if they are actively searching.

The government also admitted 41,000 fewer jobs were created in July and June than first estimated. The economy has added just 139,000 jobs a month since the beginning of the year, below 2011's average of 153,000. Dow Jones industrial futures, which had been up before the report, fell soon after it was released.

The report was weak throughout. Hourly pay fell, manufacturers cut the most jobs in two years and the number of people in the work force dropped to its lowest level in 31 years.

Sluggish hiring could nudge the Federal Reserve to announce some new action to boost growth after its meeting next week.

The report on hiring and unemployment is among the most politically consequential of the campaign. The figures arrive just as the presidential race enters its final stretch. Jobs are the core issue, and the report could sway some undecided voters.

There will be two additional employment reports before Election Day Nov. 6. But by then, more Americans will have made up their minds.

In his speech Thursday night, Obama acknowledged incomplete progress in repairing the still-struggling economy and asked voters to remain patient.

"The truth is, it will take more than a few years for us to solve challenges that have built up over the decades," Obama said.

In addition to those who've given up looking for work, many young Americans are avoiding the job market by remaining in school. All told, the proportion of the population that is either working or looking for work fell to 63.5 percent. That's the lowest level in 31 years for the labor force participation rate.

Average hourly wages dipped a penny to $23.52 and are only slightly ahead of inflation in the past year.

The average work week was unchanged in August after being revised downward in July to 34.4 hours. And the number of temporary jobs fell for the first time in five months. Both figures suggest that companies are seeing less demand for their services and need fewer workers.

Many of the jobs were in lower-paying industries such as retail, which added 6,100 jobs, and hotels, restaurants and other leisure industries, which gained 34,000. Higher-paying manufacturing jobs fell by 15,000, the most in two years.

The weak pace of hiring is the latest sign that businesses are reluctant to make big investments or add more workers. Europe's financial crisis has pushed the region's economy to the edge of recession. And a set of tax hikes and spending cuts scheduled to take effect at the beginning of the year have created uncertainty about future growth.

gmhr1
09-07-2012, 10:27 AM
Obama will tell you how good it is Its a disgrace! Romney/Ryan will be all over this and his speech I can't wait

Uncle Bill
09-08-2012, 06:00 PM
But, HEY, all those gubmint workers(??? I know, another oxymoron) are doing quite well under 'The One'.

UB

Obama’s Economy: Unemployment Among Government Workers Lowest In The Nationhttp://sayanythingblog.com/files/2012/09/find-the-government-worker-300x226.jpg
Written By:
Rob Port (http://sayanythingblog.com/entry/author/admin/)
Sep 7, 2012





The nation may have gotten a terrible jobs report for August, but there was one part of the economy that’s doing pretty well. Unemployment among government workers is at 5.1%, the lowest in the nation.

(CNSNews.com) (http://cnsnews.com/news/article/unemployment-drops-51-percent-government-workers-lowest-among-all-industries) – There was good news for American workers in August—if government was their employer.
The unemployment rate for government wage and salaries workers dropped from 5.7 percent in July to 5.1 percent in August. At the same time, the number of government wage and salary workers counted as unemployed dropped by 123,000 people from 1,182,000 in July to 1,059,000 in August.

The overall national unemployment rate was 8.1 percent in August.

A year ago, in August 2011, there were 1,271,000 unemployed government wage and salary workers. So, the number of unemployed government workers has dropped by 212,000 since then.

The unemployment numbers for government workers published by the Bureau of Labor Statistics are not seasonally adjusted.

The Bureau of Labor Statistics counts someone as a government wage and salary worker if they are not in the military and they are currently employed by any level of government—local, state or federal—or they are unemployed, they are looking for work, and their last job was for any level of government.
Meanwhile, according to Senate Majority Leader Harry Reid, the bad jobs report was 0, because they “blocked Democratic efforts to hire more teachers, firefighters and police officers.”

That’s a little hard to believe given the numbers above.

Uncle Bill
09-08-2012, 06:10 PM
Might as well add some more problematic numbers, not that any of the lefties will notice, or care. The following stats from a friend on a blog I frequent. I can hardly wait for the Snopes folks to require a 'facts check'.

UB

You might want to add your comments to the achievements listed below, most of them were in the latest jobs report. Just a suggestion!

1. 43 straight months in which unemployment has exceeded 8 percent.

2. Hourly pay fell, manufacturers cut the most jobs in two years and the number of people in the work force dropped to its lowest level in 31 years.

3. The proportion of the population that is either working or looking for work fell to 63.5 percent. That’s the lowest level in 31 years for the labor force participation rate.

4. Average hourly wages dipped a penny to $23.52 and are only slightly ahead of inflation in the past year.

5. The average work week was unchanged in August after being revised downward in July to 34.4 hours. And the number of temporary jobs fell for the first time in five months.

6. Many of the jobs were in lower-paying industries such as retail, which added 6,100 jobs, and hotels, restaurants and other leisure industries, which gained 34,000.

7. Higher-paying manufacturing jobs fell by 15,000, the most in two years.

8. The number of Americans whom the U.S. Department of Labor counted as "not in the civilian labor force" in August hit a record high of 88,921,000.

9. In July, there were 155,013,000 in the U.S. civilian labor force. In August that dropped to 154,645,000—meaning that on net 368,000 people simply dropped out of the labor force last month and did not even look for a job.

10. There were also 119,000 fewer Americans employed in August than there were in July. In July, according to the Bureau of Labor Statistics, there were 142,220,000 Americans working. But, in August, there were only 142,101,000 Americans working.

11. Despite the fact that fewer Americans were employed in August than July, the unemployment rate ticked down from 8.3 in July to 8.1. That is because so many people dropped out of the labor force and stopped looking for work.

12. America's May food stamp rolls increased by 173,000. In the last jobs numbers available to us (August), only 96,000 new jobs were created.

Yes, this is the record of a president running for reelection with the slogan "Forward."

Now we understand why he stated "Our path is a hard one, but it leads to a better place".
President Obama said as much because "it can’t get much worse"!

gman0046
09-13-2012, 08:46 AM
9/13 First time jobless claims up to 382,000 from 365,000 last week. Thats over 8% for 43 straight months. So much for Obongolo's campaign promise. Still menmon is touting the job creation by the Kenyan Clown. No need to back up those claims with facts. Dems keep drinking the Kool Aid.

menmon
09-13-2012, 12:31 PM
Lots of jobs...come to houston......problem....no one is qualified to do them

starjack
09-13-2012, 02:05 PM
Lots of jobs...come to houston......problem....no one is qualified to do them

And our kids go to your schools

menmon
09-13-2012, 03:17 PM
And our kids go to your schools

You have a point...check into the private scools then...tuition I think is about $15K per year

ARay11
09-13-2012, 03:21 PM
private school tuition in Natchez, MS was $4000/year.
private school in Longview, TX was $6000/year

menmon
09-13-2012, 04:05 PM
private school tuition in Natchez, MS was $4000/year.
private school in Longview, TX was $6000/year

This Strake and Kincad....those are the ones the rich people take them to

ARay11
09-13-2012, 04:43 PM
not all private schools are strake or kinkaid.... there is a quality private education available for most who seek it and it won't break the bank. You don't have to be a Kennedy to get in, or a Romney to pay for it.

menmon
09-13-2012, 05:10 PM
not all private schools are strake or kinkaid.... there is a quality private education available for most who seek it and it won't break the bank. You don't have to be a Kennedy to get in, or a Romney to pay for it.

I thought they wanted better than the public schools

ARay11
09-13-2012, 05:54 PM
they are better than the public option

PamelaP
06-11-2013, 02:56 AM
I remember the last year dismal job report. More unemployment people lose hope to seek more job offers. But it's good to hear that the government have made effort to bolster the recovery, the Federal Reserve on agreed to buy $40 billion a month in mortgage-backed securities to cut borrowing costs for home buyers and other borrowers, and pledged to keep short-term rates near zero until at least mid-2015. See more here (http://personalmoneynetwork.com/moneyblog/2012/09/14/fed-economic-stimulus/).

What happen now? :confused:

Gerry Clinchy
06-11-2013, 01:20 PM
http://townhall.com/columnists/thomassowell/2013/06/11/economics-vs-need-n1616931
Economics v. Need by Thomas Sowell

He makes it sound very simple:

This is not just a matter of semantics, but of economics. In the real world, employers compete for workers, just as they compete for customers for their output. And workers go where there is more demand for them, as expressed by what employers offer to pay.

Farmers may wish for more farm workers, just as any of us may wish for anything we would like to have. But that is wholly different from thinking that some third party should define what we desire as a "need," much less expect government policy to meet that "need."

In a market economy, when farmers are seeking more farm workers, the most obvious way to get them is to raise the wage rate until they attract enough people away from alternative occupations -- or from unemployment.
With the higher labor costs that this would entail, the number of workers that farmers "need" would undoubtedly be less than what it would have been if there were more workers available at lower wage rates, such as immigrants from Mexico.

It is no doubt more convenient and profitable to the farmers to import workers at lower pay than to pay American workers more. But bringing in more immigrants is not without costs to other Americans, including both financial costs in a welfare state and social costs, of which increased crime rates are just one.

Some advocates of increased immigration have raised the specter of higher food prices without foreign farm workers. But the price that farmers receive for their produce is usually a fraction of what the consumers pay at the supermarket. And what the farmers pay the farm workers is a fraction of what the farmer gets for the produce.
In other words, even if labor costs doubled, the rise in prices at the supermarket might be barely noticeable.

What are called "jobs that Americans will not do" are in fact jobs at which not enough Americans will work at the current wage rate that some employers are offering. This is not an uncommon situation. That is why labor "shortages" lead to higher wage rates. A "shortage" is no more quantifiable than a "need," when you ignore prices, which are crucial in a market economy. To discuss "need" and "shortage" while ignoring prices -- in this case, wages -- is especially remarkable in a usually market-savvy publication like the Wall Street Journal.

Often shortages have been predicted in various occupations -- and yet never materialized. Why? Because the pay in those occupations rose, causing more people to go into those occupations and causing employers to reduce how many people they "need" at the higher pay rates.

Virtually every kind of "work that Americans will not do" is in fact work that Americans have done for generations. In many cases, most of the people doing that work today are Americans. And there are certainly many unemployed Americans available today, without bringing in more foreign workers to meet farmers' "needs."

luvmylabs23139
06-11-2013, 02:30 PM
I'm still trying to understand why when there are jobs we, the taxpayer, are forced to pay people to sit on their hands because the person refuses to do available work.