Skip to comments.U.S. economy adds 80,000 jobs in October (unemployment rate dips to 9%)
Posted on 11/04/2011 5:57:43 AM PDT by fhayekEdited on 11/04/2011 6:43:17 AM PDT by Admin Moderator. [history]
WASHINGTON (MarketWatch) - The U.S. added 80,000 jobs in October and the unemployment rate edged down to 9.0% from 9.1%, the Labor Department reported Friday.
(Excerpt) Read more at marketwatch.com ...
gearing up the part time holiday work farce......
< / sarc >
...they will have it below 7% by election day, facts be dammmmm
We have turned so many corners that we have entered the fourth dimension.
The revisions for Sept and Aug are pretty significant towards the positive side. This months numbers are pretty unimpressive though. All in all, looks like a very slow and uneven recovery. My guess is we will be around 8.5% or so around election day next year.
The best quote I heard regarding this continuing legerdemain was as follows:
"If you torture numbers long enough, they will confess anything."
This gub mint lies
gee then why are the stores and shops in my town so empty?
even the supermarket
Once more we didn’t add enough jobs to keep up with the population growth rate, yet Obama’s bureaucrats managed to produce a decrease in the unemployment figure. The only way they could do that is by continuing to shrink the work force. We’re setting modern-day records month after month.
Businesses just won't hire -- at least on the low end of the salary scale -- with Obamacare's unknown costs hanging over them. 90,000 is an improvement but nowhere near typical at this time in an economic recovery.
If obamacare kills off more old farts and unproductive people, the unemployment numbers will be looking good
They were “expecting” 120,000.
Recovery Autumn! Woohoo!
I’m guessing any downturn is due to all those Occupy Wall Streeters not showing up for work.
All those undelivered free weeklies...
Every week Fox's puts out the NEW Unemployed numbers, 397000 just yesterday.
So every week, about 400,000 new people sign up for unemployment, that is about 1,600,000 per month??? Is that correct, or am I missing something?
So, if assuming that is correct, and only 80,000 have found employment, that took the figure down to 9% ?????????
Just wow, and how grateful I am/sarc.
The unemployment rate drops when people give up. When they stop actively looking, they are no longer counted. This happened earlier in the year too.
exactly what does 9% mean?
Does it mean only 9% of the employable population is unemployed?
That is utter BS!!!!
Your confusing reports just like so many other people do. At least your asking for information instead of just posting out of ignorance.
The weekly report is the new weekly unemployment claims. It is normal, even in a healthy economy, for hundreds of thousands of people to be laid off and request new claims each week. It’s a big country and there is a lot of turnover.
Claims over 400,000 generally indicate deterioration in the job market. Between 375-400k or so generally indicates a stagnant but stable job market. Under 375k new claims would tend to indicate job growth.
The monthly report is net new jobs. Meaning in that month more jobs were created than were lost. Right now the economy is basically adding net new jobs, but barely enough to cover population growth.
Sure, if we get a double dip the unemployment rate would likely go back to 9.5%. There isn't really much data that points to a double dip at the moment though. The last couple of months of data has generally been better than expected (which isn't saying much considering expectations were so low). Most analysts see GDP growth of around 2.0% - 2.5% through next year and I tend to agree. I'd say by November 2012 the unemployment rate will likely be around 8.5% - perhaps a touch lower but not by a lot.
It is just when the Media reports 400K new unemployed, next week another 400K and so on. End of month that's 1.6M unemployed.
So I think the problem is in the way the Media is reporting, MAYBE me in the hearing. lol
What you have to realize is that there are ALWAYS lots of new people unemployed each week. We are a big economy and that is normal even in good times. There are also hundreds of thousands of people finding new jobs each week - again, that is normal. The weekly number you are seeing is new claims for unemployment, but does not show the number of people who have stopped claiming unemployment.
The monthly number is completely different and is a calculation of NET new or lost jobs. When the report for last month came out this morning it showed a NET increase of 80k jobs. That means more people found work than were laid off. Last months report also contained significant upward revisions to August and September numbers and quite a lot of other fairly good employment news. Overall, it is a decent jobs report. Not great, but decent - and seems to indicate a gradually improving employment picture.
Lastly the monthly jobs report is actually 2 reports. One is the number of new jobs created or lost, the other is essentially a large household poll of how many people are considered unemployed.
Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!
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.