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 ...
So what did your BIL have to say for himself when presented with facts? :-)
The economy went downhill right after Nancy the Pelosi became Speaker.
glad you pulled this up.
There is also the factor that some economist consider 4% as zero unemployment as that is close to the amount of people that won’t look for a job because they would rather collect unemployment as long as they can.
That is one cool graph! What is the source, and have you verified it’s validity?
Bush’s Fault LOL!!!!
no validity is noted.
but, no validity is not noted.
W’s economy was a house of cards based on government growth, a commodities bubble, and a housing bubble.
I always figured thaty somehow or other Unemployment was tied to Global Warming!
Yeah. Funny how it is all Bush's fault. These types of graphs just keep popping up.
In the 2006 midterm elections, democrats took back control of congress. Lets see how they’ve done:
Dow Jones Average
Jan 07: 12,398
Jan 07: 4.6
Jan 07: $162 billion
Current: 1.5 trillion
Jan 07: 8.7 trillion
Current: 12.3 trillion
(Additions and corrections welcome)
but, no validity is not noted.
LOL! Is that akin to "no controlling legal authority"?
but now the line is grey as a whore by any other color would still be a whore.
Double, double toil and trouble;
Fire burn and cauldron BUBBLE.
Cool it with a baboons blood,
Then the charm is firm and good.
Always with the "unexpected"; although being a Republican admin at the time, the MSM was naturally "expecting" bad news.
Oh, Okay... I think I've got the Lame Stream Media's running narrative now:
Republican in Office = Expected weak job market.
DemonRat in Office = Expected strong job market.
Yup, that would explain why they (the LSM) are always surprised when the real numbers start rolling in.
Kind of a variant on the Self-fulfilling Prophecy syndrome. lol.
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.
And in response the one of every two persons you see on a daily basis put a San Francisco Marxist named pelosi two heartbeats from the presidency.
Of course the incompetent fossils that pass for GOP “leaders”
wouldn’t dare mention that everything went to hell after the socialists took power in 2006, but that only because their Alzheimers is kicking in and they forgot .
God save us from the imbeciles that surround us and give us the strength to neutralize them
Facts? Facts don’t matter to Leftists. They consider facts to be something manufactured to interrupt their reverie of possible Utopia.
My story is kind of the reverse, a kid born to a far left liberal couple. I have three siblings, two of which are still moonbats, I was the first to turn to the dark side and fortunately brought one with me.
Kudos. Perhaps your sibling is more intelligent than all of mine!
He’s a Phd, and his first job was in DC for the feds the last year of the Carter administration. When I told him I voted for Reagan (my first ever vote), he was shocked. Two years later he had turned into a raving conservative. He hated working for the feds, couldn’t believe how little federal workers actually did. It didn’t take a lot of intelligence to figure that one out.
My husband works for himself (computer consulting/repair/networking/security, etc.) and things have been a bit slower for him this year.
Luckily my workload picks up this time of year and I get lots of hours and all the overtime I can handle from now until July, so it evens out our budget.
Garage sale? You betcha! A good friend and I have one each year and last year I really stripped the house (sold lots of stashed fabric and yarn) and made $300.00.
When I’m back working from home (in a few years) I plan to hold a huge “Trash or Treasure” sale each season or a plant sale or invite locals to come to our farm for the day to sell what they grow; a Farmer’s Market, but on a real farm, LOL! I think the concept will sell itself. ;)
There are plenty-o-ways to make a buck even in a horrible 0bamaconomy. :)
Ping, from November, 2006.