- Joined
- Jul 29, 2009
- Messages
- 34,478
- Reaction score
- 17,282
- Location
- Southwestern U.S.
- Gender
- Male
- Political Leaning
- Conservative
US economy adds 96K jobs, rate falls to 8.1 pct.
US economy adds 96K jobs; unemployment rate falls to 8.1 pct. as more people end job searches
By Christopher s Rugaber
WASHINGTON (AP) -- U.S. employers added 96,000 jobs last month, a weak figure that could slow the momentum President Barack Obama hoped to gain from his speech Thursday night to the Democratic National Convention.
The unemployment rate fell to 8.1 percent from 8.3 percent in July. But that was only because more people gave up looking for work. People who are out of work are counted as unemployed only if they're looking for a job
US economy adds 96K jobs, rate falls to 8.1 pct. - Yahoo! Finance
This can't be good for Obama... But you never know how the main stream media will spin it, since Obama needs help.
Additionally, this from the (imo) excellent Silexx Market Preview:
'However, there is more bad news. The previous month's low of 163,000 jobs created was revised lower to 141,000 and the report two months ago that reflected a horrible 65,000 jobs created was also revised lower to only 45,000 jobs created.'
(You have to subscribe to it to read it, I believe)
So even the fair news from last month and the bad news from the one before it - now turn out to be worse.
QE3 IS coming, count on it.
If you own precious metals and/or commodities...do NOT sell them now (imo).
I always assume these #'s will be revised down by a third, its always worse than they tell you.
I wouldn't call the numbers from August "fair", as they are still 30k short of keeping up with population growth.
Additionally, this from the (imo) excellent Silexx Market Preview:
'However, there is more bad news. The previous month's low of 163,000 jobs created was revised lower to 141,000 and the report two months ago that reflected a horrible 65,000 jobs created was also revised lower to only 45,000 jobs created.'
(You have to subscribe to it to read it, I believe)
So even the not-so-good news from last month and the bad news from the one before it - now turn out to be worse.
QE3 IS coming, count on it.
If you own precious metals and/or commodities...do NOT sell them now (imo).
I wouldn't call the numbers from August "fair", as they are still 30k short of keeping up with population growth.
What is amazingly pathetic is that when you listen to the basic news reports, especially on raido, they highlight on
- "96 K jobs created. Not great, but positive".
- Unemployment fell from 8.3 to 8.1
Many will not say that the economy needs about 130K just to absorb population growth, or that the anomaly of the decrease is actully due to 368 K being eliminated from the count of those seeking work. aka "Obama jobs" ..... "poof".
Sure beats 820,000 jobs lost though, doesn't it?
And something like 368,000 folks dropped out of the labor force.
I wouldn't call the numbers from August "fair", as they are still 30k short of keeping up with population growth.
Yes, the survery -- the bare tip of the tip of the iceberg.While the unemployment rate dropped to 8.1 percent from 8.3 percent in July, that was because so many Americans gave up the hunt for work. The survey of households from which the jobless rate is derived actually showed a drop in employment.
http://www.businessweek.com/articles/2012-09-07/weak-jobs-report-shows-obamas-long-road-ahead said:The share of working-age people who are either working or looking for work—known as the labor-force participation rate—fell to its lowest level since September 1981.
....... I wonder how long it will be before the whole of Americans wake up to realize that as long as American politicians keep idealizing the "global economy", the "global economy" which is merely a sugar-coated euphemism for wage-slave workers in a borderless countryless world, there is simply no hope for the return of the once-valued American standard of living, as we instead continue to trade our jobs to third-worlders for their abject poverty import to America ..............
Is that the new campaign slogan? :lamoSure beats 820,000 jobs lost though, doesn't it?
Could be that those jobs are in China. :mrgreen:
"Most of the jobs are going overseas," said Russ Choma at the Investigative Reporting Workshop. He analyzed which foreign firms had accepted the most stimulus money. "According to our estimates, about 6,000 jobs have been created overseas, and maybe a couple hundred have been created in the U.S."
Bronson, maybe I'm misunderstanding you, but maybe you missed Danarhea's point: it appeared to be just for a laugh .. and I indeed found the conflicting absurdity of it amusing.70% of Obama's failed Stimulus for "Green Tech" went to Foreign Corporations
Wind Power Does Not Equal Job Power - ABC News
Facts > Your Lies
Bronson, maybe I'm misunderstanding you, but maybe you missed Danarhea's point: it appeared to be just for a laugh .. and I indeed found the conflicting absurdity of it amusing.
I don't believe, he, a conservative, was making a case for Obama.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?