Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

Economy Adds Only 96,000 Workers, Disability Greater Than Decline in Unemployment Since June 2010
Confounded Interest ^ | 09/07/2012 | Anthony B. Sanders

Posted on 09/07/2012 9:51:32 AM PDT by whitedog57

The economy added 96,000 workers last month following a revised 141,000 rise in July that was smaller than initially estimated according to the Labor Department. The median estimate of economists was for a gain of 130,000. Unemployment unexpectedly fell to 8.1 percent. U6 unemployment fell to 14.70%.

Are we better off than we were at the beginning of recovery summer 2010? Yes and no. The number of people that are unemployed has fallen by 2 million, but we have added over 2 million people to disability.

A closer look at the numbers reveals that the civilian labor force FELL in August by -368,000. Ah, our civilian labor forced declined resulting in a decline in the unemployment rate of the survivors declined. That is, the decline in unemployment was less than the decline in the labor force.

What is interesting about this chart is the growth in the civilian labor force (green) under President Bush, but the growth in the labor force since 2009 has been much slower.

So, this was a disappointing jobs report. I hope The Fed didn’t notice!

(Excerpt) Read more at ...

TOPICS: Business/Economy; Government; Politics
KEYWORDS: bush; obama; recovery; unemployment
Great post by this economist. More people on disability than the decline in unemployment. Yikes!
1 posted on 09/07/2012 9:51:40 AM PDT by whitedog57
[ Post Reply | Private Reply | View Replies]

To: whitedog57

When I found out what “disability” actually could mean, I am not surprised how many are on it.

2 posted on 09/07/2012 10:02:47 AM PDT by VanDeKoik
[ Post Reply | Private Reply | To 1 | View Replies]

To: VanDeKoik

My aunt was chronically obese most of her adult life. She finally lost weight a few years ago, but not before needing double knee replacement. As a result she was able to get a disability retirement when she retired from teaching. Somehow that gets her more money than a regular retirement, but I wouldn’t say her ‘disability’ was job related in any way.

3 posted on 09/07/2012 10:08:03 AM PDT by USNBandit (sarcasm engaged at all times)
[ Post Reply | Private Reply | To 2 | View Replies]

To: USNBandit

I guess for some the draw of being a societal parasite is just too great to resist.

4 posted on 09/07/2012 10:12:05 AM PDT by hal ogen (First Amendment or Reeducation Camp?)
[ Post Reply | Private Reply | To 3 | View Replies]

To: whitedog57

From this article:

the employment rate for men (69.9%) is either “lowest since 1948” or “lowest ever recorded”.

5 posted on 09/07/2012 10:17:21 AM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson