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Thread: August Jobs Report

  1. #1
    Senior Member road kill's Avatar
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    Default August Jobs Report

    Anyone get a chance to reveiw the report??

    How's it looking???

    96,000 new jobs nationwide???

    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.
    Last edited by road kill; 09-07-2012 at 08:00 AM.
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  2. #2
    Senior Member gmhr1's Avatar
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    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
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    Senior Member Uncle Bill's Avatar
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    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 Nation


    Written By:
    Rob Port
    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) – 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.
    When the one you love becomes a memory, that memory becomes a treasure.

  4. #4
    Senior Member Uncle Bill's Avatar
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    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"!
    When the one you love becomes a memory, that memory becomes a treasure.

  5. #5
    Senior Member gman0046's Avatar
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    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.

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    Senior Member menmon's Avatar
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    Lots of jobs...come to houston......problem....no one is qualified to do them

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    Senior Member starjack's Avatar
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    Quote Originally Posted by menmon View Post
    Lots of jobs...come to houston......problem....no one is qualified to do them
    And our kids go to your schools

  8. #8
    Senior Member menmon's Avatar
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    Quote Originally Posted by starjack View Post
    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

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    private school tuition in Natchez, MS was $4000/year.
    private school in Longview, TX was $6000/year
    "I'm gonna lean up against you, and you lean up against me. That way we don't hafta sleep with our heads in the mud"
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  10. #10
    Senior Member menmon's Avatar
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    Quote Originally Posted by ARay11 View Post
    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

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