Skip to comments.Unemployment sinks to 5-year low (11/3/06)
Posted on 03/07/2010 5:22:15 PM PST by originalbuckeye
NEW YORK (CNNMoney.com) -- The unemployment rate fell to the lowest level in more than five years in October, the government reported Friday, a sign of unexpected strength in the job market. The jobless rate sank to 4.4 percent from 4.6 percent in September, the Labor Department said. It was the lowest since May 2001. Economists had forecast the rate would hold steady. The department also said that employers added 92,000 jobs in October, down from a revised 148,000 in September, and short of Wall Street forecasts for a gain of 125,000. But the September reading was revised up from the originally reported 51,000, and the increase, together with a revision to the August reading as well, had employment up 139,000 above earlier estimates heading into October. Those revisions and the modest October gain mean that 1.5 million jobs have been added so far this year, which is above forecast by most private economists, and blunts the effect of the modest October gain. The Bush administration hailed the report, but one political analyst said it wasn't likely to help Republicans facing tough elections battles on Tuesday. Polls indicate the economy isn't the top issue in the midterm elections. State-by-state unemployment rates The tighter job market is apparently helping to lift wages, according to the Labor Department report, which showed that average wages rose 6 cents to $16.91 an hour last month, a shade above what economists had forecast. Average wages are now up 3.9 percent over the last 12 months while the Consumer Price Index, the government's main inflation gauge, is up 2.1 percent for the 12 months ending in September, partly due to the recent sharp decline in oil prices.
(Excerpt) Read more at money.cnn.com ...
Yeah, I was going to ask what year this was beamed out of!
I’m going to send this to my dumbass brother & even more stupid sister-in-law, both of whom voted for 0bozo the commie pig, because 0bozo (according to my dumbass brother) was going to “fix” the economy. We have not really been on speaking terms since Oct 2008. I guess he must not have liked it, when I referred to he & his wife as dumbass morons. I don’t understand it? LOL
Glad someone is showing this stuff...thanks.
Can you think of a better basis for GOP political advertisements?
Another great chart!
Another great chart!
That Federal Deficit literaly gives me a chill up my spine. Those S.O.B.s
I sure miss ‘The Salad Days’ of 2006! *SMIRK*
U-6 figures are nearing 20% That’s counting everyone currently laid off, people who are marginally employed (they’d work MORE hours if more hours were AVAILABLE to them) and those that have just flat-out given up on finding a job anymore.
You are right to feel that way. This is economic warfare and we are we are up the creek.
Tell me again why certain ‘movement’ types insisted the republicans needed to be punished.
This asshole should be pushing this information out to the public.
Does anyone who what he does, other than promoting his stupid book?
Because they do not reverse big government grabs, the loss of freedoms and socialist policies in general that lead to huge deficits, creeping taxation and the destruction of the constitutional republic.
The charts reflect Americans ability to bounce back when they have hope of a turn around. If the government and their lobbyist friends (including big government Republicans) takeover health care...you can forget about ever seeing that chart go up again.
Can you give me the link for this? I want to post it on a Dem biased website.
Try this. Sorry it is so long.
I hear you about the “salad days.” Thankfully (knock wood) my husband is still gainfully employed. I thought I’d get a part-time job to supplement our income. There is NOTHING out there. I divided a bus load of plants from our garden and sold them at a garage sale last year. Looks like I’ll be digging a few more...
Cute chart. Thank you!
For later read
OOh we should make that one into a 3”x4” sticker and put it on every gas pump we pull up to.
Part of this graph especially for 2007-2008 is the result of Democrats also raising the minimum wage quite a bit and it was a contributing job-killing factor to rising unemployment even prior to the October 2008 stock market tumble.