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US ECONOMY: August Payrolls Fall 216,000; Unemployment At 9.7%
Forbes ^ | 9/4/2009

Posted on 09/04/2009 7:26:18 AM PDT by SeekAndFind

The US economy shed 216,000 jobs in August, less than the 276,000 lost last month and the 225,000 loss economists were expecting, the Labor Department reported today. With monthly job losses still elevated, the unemployment rate rose to 9.7% in August, its highest level since June 1983.

Labor also revised June job losses from 443,000 to 463,000 and July job losses from 247,000 to 276,000, which together adds another 49,000 jobs lost over the last three months. Economists have said the economy needs to create about 100,000 jobs each month to keep up with new workers, but with August's numbers, the economy has averaged a loss of about 485,833 jobs per month over the last 12 months. Since the recession began in December 2007, the US has lost a total 7.4 mln jobs and the total number of unemployed persons has risen to 14.9 mln.

The labor force participation rate, which includes the number of working-aged people with jobs, remained unchanged at 65.5%. In August, there were a total 2.3 mln people who were marginally attached to the labor force, 758,000 of which were discouraged workers, nearly double the number recorded one year ago.

Jobs were lost in all sectors of the economy except for education and health services, which added 52,000. Yet payroll declines in other sectors saw some moderation. Service-sector jobs fell by 80,000 and retail lost 9,600 jobs, both registering the smallest declines in over a year.

Construction lost 65,000 jobs while the manufacturing sector lost 63,000 jobs.

Average hourly wages rose 0.3% in August or by 6 cents to $18.65.

The average workweek was unchanged at 33.1 hours as expected.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; News/Current Events
KEYWORDS: democrats; demonazis; economy; jobs; kenyansfault; obroma; ojobloser; payroll; unemployment
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1 posted on 09/04/2009 7:26:18 AM PDT by SeekAndFind
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To: SeekAndFind

Wow, only 203,000 this month. Must mean Obama saved 300,000 jobs. Happy days are here again!


2 posted on 09/04/2009 7:27:47 AM PDT by Huskrrrr
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To: SeekAndFind

How’s that Hope and Change Dems? Huh? I know you dailykos-tards peruse our boards. How’s your boy doing so far?

Socialism is really helping out, huh?

Jackasses.


3 posted on 09/04/2009 7:28:14 AM PDT by Slapshot68
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To: SeekAndFind
But I bet the Messiah SAVED 4,675,967 jobs...all in the last month....

What?? It's not verifiable?

Ask Biden, he'll verify it.

4 posted on 09/04/2009 7:29:12 AM PDT by libs_kma (F.U.B.O.)
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To: SeekAndFind

5 posted on 09/04/2009 7:30:47 AM PDT by Mojave (Don't blame me. I voted for McClintock.)
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To: SeekAndFind

6 posted on 09/04/2009 7:32:12 AM PDT by NMEwithin
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To: SeekAndFind
The US economy shed 216,000 jobs in August....

Well, since the country hasn't stopped functioning, those 216,000 weren't doing much anyway. This will just make our economy a leaner, meaner, fightin' machine.

7 posted on 09/04/2009 7:34:12 AM PDT by kittykat77
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To: SeekAndFind
Sigh.

They were expecting 225,000 and the number appears to be "only" 216,000.

That's 9000 "less than expected". Great.

Meanwhile, the June numbers just got adjusted up 20,000 higher.
And the July numbers were adjusted up 30,000.

Does ANYONE think that these new number for August as truly "less than expected"????? Wait a month, then see that the adjusted number is higher than the 225,000 that was "expected".

It's still getting worse than they were expecting. It's not turning around.

8 posted on 09/04/2009 7:35:14 AM PDT by ClearCase_guy (Play the Race Card -- lose the game.)
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To: Slapshot68
It seems like when they post the job losses each month, two months later they revise them upward.
9 posted on 09/04/2009 7:35:21 AM PDT by fishingking (Freeper formerly known as Lakertaker)
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To: SeekAndFind

The numbers are being fudged under the magic and administration killing 10%. The .003 error is not statistically calculable. The attempt at precision is a joke.

How many dead presstitutes will it take to raise the number above 10%?


10 posted on 09/04/2009 7:38:11 AM PDT by bert (K.E. N.P. +12 . fasl el-khital)
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To: fishingking
I will bet you these numbers are wrong. I heard somewhere that they saw duplication of names from people who did find work. I'll be its over 10% and the POWERS that be a keeping it down for Obama.
11 posted on 09/04/2009 7:39:04 AM PDT by Linda Frances
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To: fishingking

They don’t mention how many fell off the end of the wagon and are no longer listed as “unemployed”.
There just fewer jobs left to cut and govt hasn’t cut any net jobs.
It is interesting that we have a lot of remodels going on within two blocks and most of them are being done by contractors on their own house, or a relative working on the house.


12 posted on 09/04/2009 7:39:21 AM PDT by Oldexpat
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To: kittykat77

Leaner and meaner perhaps. Unless the lean and mean productive members of society are unemployed, and the number employed by the government increases. Not good.


13 posted on 09/04/2009 7:40:19 AM PDT by LuvFreeRepublic
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To: SeekAndFind
OBAMAVILLE

Gett’n a head fake,
watchin' msn’s take;
All of their pundits oozing foul oil.
Clean’n my six gun on my front porch swing.
Felling my blood--
It’s beginnin' to boil.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know it's Obama’s fault.

There’s no rhyme or reason,
They are all commitin’ treason
With nothing to show but a brand new tax or two.
But they are real beauties,
Despotic duties,
how they got passed I haven't a clue.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that it’s Bush we should blame,
Now I think,-- hell with them it’s Obama’s fault.

I blew out my flip flop,
Stepped on a pop top;
Cut my heel, but I just cruise on back home.
Because no medical care will the doctors render
They say there’s little service I can tender
And there’s no need for me to hang on.

Wasted away again in Obamaville
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know, it's my own damn fault.
Yes, and some people claim that Bush is to blame,
And I know because of my vote it's my own damn fault.
14 posted on 09/04/2009 7:42:42 AM PDT by Kartographer (".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
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To: Oldexpat
It's all in God's hands now.

I'm not particularly religious, but I am starting to wonder if we are being judged

15 posted on 09/04/2009 7:43:53 AM PDT by fishingking (Freeper formerly known as Lakertaker)
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To: SeekAndFind

Why, that is amazing.
Every morning when I wake up, I see quick financials on Yahoo.
The headlines say the economy is now so rosy and markets up, but you read the fine print, and it just is not so.
I still say that the markets are no indicator, as you have Soros and the computers pumping and dumping every day.

I read the small print, and talk to people...All points to disaster.


16 posted on 09/04/2009 7:44:26 AM PDT by AlexW (Now in the Philippines . Happy not to be back in the USA for now.)
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To: SeekAndFind

Since they are missing the monthly unemployment numbers by at least 20,000 every month, this month’s 216,000 will be revised to at least 236,000 next month. How dumb do they think we are?
The important fact is that unemployment is now 9.7%, roughly twice what it was when Pres. Bush was in office. The university dweebs who trying to run this economy, when they haven’t run anything before in their lives, are failing big time. It would have been wise to have at least one businessman among BO’s “czars,” but they couldn’t risk that he would question why capitalism is being discarded in favor of socialism.


17 posted on 09/04/2009 7:45:06 AM PDT by kittymyrib
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To: fishingking

Oh, stop. Don’t you read Newsweek, house organ of the Democratic Party? They had a big story telling us the recession was over earlier this summer so why pay attention to “inconvenient facts” like stupendously high and rising unemployment?


18 posted on 09/04/2009 7:45:20 AM PDT by laconic
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To: SeekAndFind

is it too soon to start touting a Misery Index?


19 posted on 09/04/2009 7:47:22 AM PDT by Buckeye McFrog
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To: Kartographer

It should be obvious by now to folks with brains that are actually working and logical and reasonable that the Obummer administration as well as the democrat members of Congress have absolutely no idea on how to really fix the economy and fix it in such a way as to really make it thrive, namely the free market, capitalistic, pro-business, tax-cutting, reduce government spending that is required for economic stability and growth. This administration and the democratic members of Congress are so steeped, brainwashed and indoctrinated in their Marxist Socialist ideology that they cannot do what they need to do to help the country get out of this deepening recession.


20 posted on 09/04/2009 7:47:27 AM PDT by Ev Reeman
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To: SeekAndFind
How many months will it be before we have more unemployed than employed persons in this country with this “stimulus” program. Were Obama & Biden just talking about free Viagra??
21 posted on 09/04/2009 7:51:09 AM PDT by Dem Guard
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To: Dem Guard
LOL, Viagra. From a very discouraged, yet highly capable member of the unemployed, thanks for the laugh.
22 posted on 09/04/2009 7:53:37 AM PDT by LuvFreeRepublic
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To: Dem Guard
How many months will it be before we have more unemployed than employed persons in this country with this “stimulus” program.

Seriously now, that will NOT HAPPEN. America is too dynamic a country for your doomsday scenario to occur. Even in the deepest days of the great depression we had more people employed than not.

If your grim scenario ever occurs, the REST OF THE WORLD will be in trouble first.
23 posted on 09/04/2009 7:57:37 AM PDT by SeekAndFind
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To: kittymyrib
The important fact is that unemployment is now 9.7%

The hidden point is this is the "official" number they publish. What they do not tell you are the people they aren't counting --- For instance, those who have given up looking for jobs, those whose unemployment insurance have run out, etc.
24 posted on 09/04/2009 7:59:50 AM PDT by SeekAndFind
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To: SeekAndFind

My bet’s on 15 to 18.


25 posted on 09/04/2009 8:03:10 AM PDT by Dallas59
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To: Buckeye McFrog

Wait until the massive inflation of this Administrations bloated overspending hits.


26 posted on 09/04/2009 8:04:52 AM PDT by CPT Clay (Pick up your weapon and follow me.)
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To: SeekAndFind

Exactly so. The real unemployment number is much higher. You cannot believe any statistic the government lays on you without checking it yourself. I think even the CBO is fudging on their numners a bit trying to put a rosier spin on them than they would under normal conditions. I believe pressure is being put on the CBO by the administration and members of Congress when it is supposed to be non partisan.


27 posted on 09/04/2009 8:14:11 AM PDT by Ev Reeman
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To: SeekAndFind

Exactly so. The real unemployment number is much higher. You cannot believe any statistic the government lays on you without checking it yourself. I think even the CBO is fudging on their numners a bit trying to put a rosier spin on them than they would under normal conditions. I believe pressure is being put on the CBO by the administration and members of Congress when it is supposed to be non partisan.


28 posted on 09/04/2009 8:14:22 AM PDT by Ev Reeman
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To: laconic
They had a big story telling us the recession was over earlier this summer so why pay attention to “inconvenient facts” like stupendously high and rising unemployment?

If you read Newsweek, they would urge patience of the American people ( something they never did when Dubya was President ).

Their argument is that things are starting to turn around and unemployment is always a LAGGING INDICATOR of the economy and the last to turn around.
29 posted on 09/04/2009 8:15:22 AM PDT by SeekAndFind
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To: SeekAndFind; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; Roy Tucker; ...

Ping!


30 posted on 09/04/2009 8:21:14 AM PDT by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: SeekAndFind

Can you believe these guys?

All during the Bush presidency they were saying the economy is a disaster, a catastrophe, and that we were in a deep recession even when times were good during the Bush years.

Now these same dumbasses want the American people to be patient.

For how long?

Until they have no places to live.

Until they have no jobs to go to.

Until they have no money because the government takes it all.


31 posted on 09/04/2009 8:25:28 AM PDT by Ev Reeman
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To: kittykat77
Thats really not a good assessment.

Obama is ruining the country as we speak.

32 posted on 09/04/2009 8:26:30 AM PDT by KC_Conspirator
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To: fishingking
I'm not particularly religious, but I am starting to wonder if we are being judged

I think we are being cursed as a country. The judgement will come later, and it will be far worse.
33 posted on 09/04/2009 8:30:37 AM PDT by Sig Sauer P220 ("Peace" is that brief, glorious moment in history when everybody stands around reloading - Anonymous)
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To: ClearCase_guy

Doesn’t matter! The Stock Market is up. Hooray!


34 posted on 09/04/2009 8:32:40 AM PDT by I am Richard Brandon
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To: bert
The numbers are being fudged under the magic and administration killing 10%. . . . The attempt at precision is a joke.

Yahoo had a similar report, and I noticed another kind of fudging. Before, the Feds said unemployment might REACH 10 % at end of year. Now they are saying it might TOP 10%.

35 posted on 09/04/2009 8:37:59 AM PDT by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: Dem Guard

LOL, thanks for the laugh, my wife would like that.

Also welcome to FR.


36 posted on 09/04/2009 8:42:12 AM PDT by Springman (Rest In Peace YaYa123)
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To: Huskrrrr

It is all Bushes, Fred Flintstone and Barney Rubbles fault.


37 posted on 09/04/2009 8:43:57 AM PDT by Dubya-M-DeesWent2SyriaStupid! (Obama, the first ever 3 in a half year, lame duck TOTUS)
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To: SeekAndFind

And in the world of reality, the unemployment rate is at least twice that, closer to 20%, and will probably go even higher. Wake up America, your President is hell bent on destroying the Nation.


38 posted on 09/04/2009 8:47:54 AM PDT by mulligan
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To: TigerLikesRooster

According to the SRM (state run media) unemployment is at a 26 year high.....and the market is up... Sumtin fishy in Bean Town.


39 posted on 09/04/2009 9:00:28 AM PDT by RSmithOpt (Liberalism: Highway to Hell)
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To: RSmithOpt
Real economy and financial market are completely decoupled. Not the kind of decoupling people are looking for.:-(
40 posted on 09/04/2009 9:05:15 AM PDT by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: fishingking

And the <?{*&%@ press dutifully report it every month and their ‘investigative reporters’ cannot see the obvious.

Goebbels lives. And the stock market goes up - Hooray!!


41 posted on 09/04/2009 9:15:42 AM PDT by I am Richard Brandon
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To: TigerLikesRooster

Thanks for the ping.


42 posted on 09/04/2009 9:24:17 AM PDT by GOPJ (- - - - - - "The Race Card - Only losers play it" - - - - - - - KentTrappedInLiberalSeattle)
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To: TigerLikesRooster

They’re saying 9.7%; so what’s the real number now?


43 posted on 09/04/2009 9:30:55 AM PDT by djsherin (Government is essentially the negation of liberty.)
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To: djsherin
U-6 is 16.8%.
44 posted on 09/04/2009 9:35:48 AM PDT by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: Huskrrrr

ANother Bagdad Bob moment for the whole country...

Tada!

Is Yahoo in Obambi media bag? This is beyond pathetic, this is abuse.

http://finance.yahoo.com/news/Stock-futures-creep-higher-apf-671400286.html?x=0&sec=topStories&pos=main&asset=&ccode=

Stocks rise as jobs report provides a little hope

Stocks rise after report shows slower pace of job cuts even as jobless rate creeps higher

* By Sara Lepro, AP Business Writer
* On Friday September 4, 2009, 12:16 pm EDT

NEW YORK (AP) — A mixed report on the labor market in August contained enough kernels of hope to send stocks higher on Friday.

The Labor Department reported a slower pace of job losses last month but also an increase in the unemployment rate to 9.7 percent — the highest since June 1983


45 posted on 09/04/2009 10:27:24 AM PDT by JudgemAll (control freaks, their world & their problem with my gun and my protecting my private party)
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To: SeekAndFind

The Soviet media still cannot explain itself: it’s bad, but good, but not so good, but still good.

http://finance.yahoo.com/tech-ticker/article/317818/Unemployment-Hits-26-Year-High%3A-This-Is-a-%22Recovery%22%3F

Unemployment Hits 26-Year High: This Is a “Recovery”?
Posted Sep 04, 2009 12:39pm EDT by Peter Gorenstein in Recession
Related: spy, dia, ^dji, ^gspc, qqqq

The economic data continues to get less bad. Should we rejoice? Wall Street has mixed emotions. U.S. employers cut 216,000 jobs in August, fewer than expected and less job cuts than the previous month. Stocks were solidly higher midday in reaction but the unemployment rates now stand at a higher-than-expected 9.7% - the highest since Ronald Reagan’s first term in office.

The “good” news about lower-than-expected job cuts is further weighed down by revisions to June and July figures. The Labor Department now says the U.S. lost an additional 49,000 jobs in June and July.

“So in fact we’re in a worse situation than people thought we were…slightly,” says Justin Fox, the economics reporter for Time and author of ‘The Myth of the Rational Market’.

Still, this may prove to be a turning point, Fox says, as many forecasters predict the bleeding will stop by the end of the year. “If that happens then we’ll look back at this as another step in this wonderful trajectory towards the end of the ‘Great Recession’,” he says.

In another case of things getting less bad, August same-store sales fell 2%, it was the smallest decline since last September. “It’s clear we’re not in a great depression,” Fox claims. The question now is whether the recession really is ending.


46 posted on 09/04/2009 10:30:58 AM PDT by JudgemAll (control freaks, their world & their problem with my gun and my protecting my private party)
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To: KC_Conspirator

I’ve never blamed presidents when companies shed jobs, downsize, outsource, ship jobs overseas, etc. In a few cases, I’ve blamed Congress. But if companies have to shed jobs to meet Wall Street earnings expectations, companies gotta do what they gotta do. American workers will just have to pick up the slack (if any!) and get on with it.


47 posted on 09/04/2009 10:32:21 AM PDT by kittykat77
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To: Huskrrrr
Labor also revised June job losses from 443,000 to 463,000 and July job losses from 247,000 to 276,000, which together adds another 49,000 jobs lost over the last three months.

Which we all know because the DOL is being forced to cook the books by the Obama administration.

48 posted on 09/04/2009 11:06:17 AM PDT by KC_Conspirator
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To: SeekAndFind; All

U6 numbers as of September, 2009 have gone from 10.7% to 16.8% in one short year!

U6 accounts for the folks below, as well as the newly unemployed. Basically it lumps together EVERYONE that’s without a job, or those WITH part-time jobs who are ready, willing and able to work full time and those that have basically given up:

“Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past.

Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule.”

http://www.bls.gov/news.release/empsit.t12.htm

No jobs, no prospect of jobs, no recovery. The Porkulus Bill didn’t create a SINGLE job that can be seen. Porkulus II (which is most liklely coming down the pike) won’t do a d@mn thing but completely seal the fate of our kids and grandkids as endentured slaves to Government.

It’s really pretty simple.


49 posted on 09/04/2009 11:09:00 AM PDT by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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To: JudgemAll

They would have something good to say about Hitler if he had a D after his name.


50 posted on 09/04/2009 3:02:07 PM PDT by Huskrrrr
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