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JUNE JOBS REPORT MISSES EXPECTATIONS, UNEMPLOYMENT 8.2%
businessinsider.com ^

Posted on 07/06/2012 6:43:18 AM PDT by Perdogg

U.S. payrolls expanded by just 80,000 net jobs in June keeping the unemployment rate flat at 8.2 percent, new data from the Bureau of Labor Statistics shows.

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


TOPICS: News/Current Events
KEYWORDS: jobless; recovery; unemployment; unexpected

1 posted on 07/06/2012 6:43:21 AM PDT by Perdogg
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To: Perdogg

so after it is upwardly revised next month, will unemployment go up to 8.3 or 8.4?

and next month, when businesses react to the huge dump Roberts just took on the constitution, I expect more layoffs


2 posted on 07/06/2012 6:48:21 AM PDT by Mr. K (OBAMA MUST BE STOPPED ROMNEY/GINGRICH)
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To: Perdogg

Unexpected again. How long can the pundits/economists keep missing the reality, before they adjust their expectations?


3 posted on 07/06/2012 6:49:16 AM PDT by expat2
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To: Perdogg

http://cache.daylife.com/imageserve/0die5loauQgDd/610x.jpg

Obama this am.


4 posted on 07/06/2012 6:50:45 AM PDT by TornadoAlley3 (Obama is everything Oklahoma is not.)
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To: expat2
How long can the pundits/economists keep missing the reality, before they adjust their expectations?

That one is easy.

The day after Baraq leaves office, the criteria will be reset.

5 posted on 07/06/2012 6:52:40 AM PDT by nascarnation
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To: Perdogg

So the actual unemployment is more like 14%?


6 posted on 07/06/2012 6:53:57 AM PDT by MuttTheHoople (Obama doesnÂ’t have the work ethic to be Anti-Christ.)
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To: Perdogg

U-6 unemployment at 14.9% - that’s 0.1% UP from last month.


7 posted on 07/06/2012 6:55:46 AM PDT by Stosh
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To: Perdogg

I am glad this is coming in the middle of his bus tour.


8 posted on 07/06/2012 6:56:03 AM PDT by MrChips (MrChips)
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To: expat2
unexpected again....

Yep, as far as opansy and the lib media is concerned, every thing is 'unexpected'. These media pimps should be in jail.

9 posted on 07/06/2012 6:56:18 AM PDT by redshawk (0pansy is a Liar and Hates.........he just hates!)
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To: expat2

It isn’t expectations that the economists have to adjust - it is their economic models.

Most modern macro-econ models are an outgrowth of the increased economic statistical measurement of the US and world economies post-WWII.

Since this is the first debt deflation we’ve had since the Great Depression, the post-WWII stats don’t reflect what happens during a debt deflation. Therefore, the expectations created by the economic models are simply incorrect.


10 posted on 07/06/2012 6:56:50 AM PDT by NVDave
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To: Stosh
U-6 unemployment at 14.9% - that’s 0.1% UP from last month.

The GOP has to train itself to focus on THAT number.

11 posted on 07/06/2012 6:58:56 AM PDT by ScottinVA (Buying Drain-O requires photo I.D... yet voting doesn't???)
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To: Perdogg

Remember boys & girls, when the unemployment numbers stay the same, the rate goes down. When the unemployment numbers go up, the rate stays the same. It’s the new Great Leader math program. Sign up today!


12 posted on 07/06/2012 7:01:22 AM PDT by AD from SpringBay (We deserve the government we allow.)
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To: Perdogg

Will Romney dare to come out of the Very Safe Shade of the Petrified RINO Forest?

Will Marveleous Mitt of Bain Capital Fame dare to point out how he could do better than Obama?

Will - - - what? Sorry folks, not today. I’ve just been told that Romney is going to announce, soon, new additions to his communications team of NE USA Brainiacts. Maybe tomorrow - - , no that is Saturday.


13 posted on 07/06/2012 7:01:37 AM PDT by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: Perdogg

Anyone stupid enough to believe this low-ball figure on unemployment deserves 4 more years of the Kenyan vulture.


14 posted on 07/06/2012 7:03:02 AM PDT by Neoliberalnot (Marxism works well only with the uneducated and the unarmed.)
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To: NVDave

Consensus yesterday morning was +75K until the ADP report came out then it went to +90K.


15 posted on 07/06/2012 7:03:14 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: expat2

“Unexpected again. How long can the pundits/economists keep missing the reality, before they adjust their expectations?”

Yeah, you would think they’d learn to lowball the estimates just to save face. How much influence to the Dims have on who juggles the numbers ?


16 posted on 07/06/2012 7:03:29 AM PDT by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
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To: Perdogg

Surprise!

17 posted on 07/06/2012 7:04:41 AM PDT by P.O.E. (Pray for America)
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To: Perdogg

Market not liking the number (DJ -125, SP -13, NASDAQ -34). Why? Not bad enough to guarantee QE3 at the Fed’s August 1st meeting.


18 posted on 07/06/2012 7:04:54 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Perdogg

100 Million Americans un-employed


19 posted on 07/06/2012 7:06:54 AM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: Perdogg

Morgan Stanley’s take in a report just issued:

* Mixed report. The payroll gain in June was only 80K, and revisions to prior months were inconsequential. But, hours and earnings were better than expected, pointing to a solid rise in June personal income.

* In fact, the aggregate weekly payrolls gauge — which combines the impact of changes in employment, hours and hourly earnings — jumped 0.7% in June. This represents one of the better gains seen in the past few years.

* Also, the temp help sector — often considered a leading indicator of labor demand — posted a solid 25,000 gain in employment.

* However, the report seemed to reinforce the notion that the loss of momentum in employment growth seen over the course of recent months represents more than just a weather-related payback. In particular, we saw outright job declines in sectors such as retail trade, transportation,
information services and private education. Also, the health care category rose only +11,000 — at the lower end of the range that has prevailed over the past 20 yrs or so.

* Based on the figures for manufacturing employment and hours — together with auto assembly schedules showing a sharp rebound in activity during June — it looks like industrial production will register a decent gain in June (+0.4%), with the key manufacturing component running at
a solid +0.6%.

* The household survey data was pretty much in line with the establishment survey this month. The household measure of employment was +128,000 and the participation rate was unchanged at 63.8%. The performance of the participation rate over the past few months has been generally consistent with the view expressed in a research note we published back in March. We tried to explain the fall-off in labor force participation seen in recent years and noted that demographic patterns should contribute to some flattening out of labor force participation going forward. This means that job growth is going to have to move above +125,000 or so per month in order to continue to bring down the
unemployment rate.

* This report was probably not weak enough to trigger QE3 at the August 1 FOMC announcement. However, a number of Fed officials seemed to be clinging to the notion that employment growth would rebound once the weather-related payback was behind us. This view now seems too optimistic. So, even though the FOMC may not take further action on Aug 1, there is likely to be a serious discussion of policy options aimed at dealing with an economy that is no longer making progress toward reducing unemployment.


20 posted on 07/06/2012 7:08:36 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: ScottinVA

8.2..., eyes of blue,
I need a job..., how bout you...
has anybody seen me hurl..


21 posted on 07/06/2012 7:11:42 AM PDT by Republic Rocker
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To: AD from SpringBay
We are hearing more and more about the new normal with these atrocious numbers.

They can't deny them; they can't seem to improve them; so they are slowly accepting them and calling them the new normal.
22 posted on 07/06/2012 7:13:01 AM PDT by TomGuy
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To: Perdogg

The other big story is that black unemployment jumped to 14.4% up from 13.9%. Yet 95% of them will still vote for him...


23 posted on 07/06/2012 7:13:14 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Perdogg

My liver cannot take any more of these “unexpected” announcements.


24 posted on 07/06/2012 7:13:14 AM PDT by magellan
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To: Perdogg

Possible reactions from MSNBC, CNN, NBC, CBS, ABC, NPR.

1) Ignore it.
2) Spin it as fantastic economic news.


25 posted on 07/06/2012 7:14:12 AM PDT by chessplayer
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To: Perdogg
again..
again..
again..
again..
again.. again..
and you guessed it..again..

26 posted on 07/06/2012 7:15:11 AM PDT by skinkinthegrass (WA DC E$tabli$hment; DNC/RNC/Unionists...Brazilian saying: "$@me Old $hit; different flie$". :^)
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To: Perdogg
Drudge Report -
"Team Obama predicted 5.6% today with stimulus..."

Hmph. A trillion dollars of our money - wasted.

27 posted on 07/06/2012 7:15:53 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: Perdogg
JUNE JOBS REPORT MISSES EXPECTATIONS, UNEMPLOYMENT 8.2%

Misses expectations? that IS the expectation.

28 posted on 07/06/2012 7:16:03 AM PDT by theDentist (FYBO/FUBO; qwerty ergo typo : i type, therefore i misspelll)
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To: george76
100 Million Americans un-employed

But, but, he inherited this mess caused by policies of the last two centuries.

Obamanomics....who ya gonna blame?


29 posted on 07/06/2012 7:16:51 AM PDT by Jane Long (Soli Deo Gloria!)
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To: Graewoulf

Just heard Marvelous Mitt on his TV Presser.

Romney DID talk about the Labor report in his usual, really boring, monotone voice.

Romney can make watching paint dry be very exciting.

He also said that “ - - - we should have a health”care” plan that brings down the cost of health”care.” - - - “

BTW, has the Federal Government EVER brought down the cost of ANYTHING?

Wake up Romney, or you will be DUMPED in Tampa by a first ballot ABSTAIN vote!


30 posted on 07/06/2012 7:17:54 AM PDT by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: Perdogg

Six and a half million Americans looking for work and only eighty thousand found a job last month. Is this the recovery our incredible shrinking President keeps bragging about? Is this what he means when he says the private sector “is doing fine”? Actually, I think this is what he meant by “fundamentally transforming America”.


31 posted on 07/06/2012 7:18:28 AM PDT by csmusaret (I will give Obama credit for one thing- he is living proof that familiarity breeds contempt.)
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To: Perdogg
Thanks for the figures and the post.

An interesting piece on the real numbers from the WSJ here.

32 posted on 07/06/2012 7:21:09 AM PDT by Hemingway's Ghost (Spirit of '75)
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To: csmusaret
Six and a half million Americans looking for work and only eighty thousand found a job last month.

Sobering, too, is that the WSJ is reporting that 189,000 people entered the labor force last month as well . . .

33 posted on 07/06/2012 7:25:05 AM PDT by Hemingway's Ghost (Spirit of '75)
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To: csmusaret

To be fair the 80K includes churn. Every month 400-500K people are hired and a similar amount are fired. This past month the amount hired were 80K higher than the amount fired.


34 posted on 07/06/2012 7:33:25 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Hemingway's Ghost

And 85,000 applied for disability.


35 posted on 07/06/2012 7:33:57 AM PDT by csmusaret (I will give Obama credit for one thing- he is living proof that familiarity breeds contempt.)
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To: Perdogg

CNBC Report:

U.S. stock index futures extended their losses Friday after non-farm payrolls showed employers added less jobs than expected in June.

Non-farm payrolls rose by 80,000, according to the Labor Department, missing expectations for a gain of 90,000 jobs, according to a Reuters poll. Meanwhile, the unemployment rate remained unchanged from May at 8.2, in line with predictions.

“The economic recovery is clearly stuck in quicksand as job creation remains anemic and layoff announcements soar,” said Todd Schoenberger, managing principal at The BlackBay group. “It’s going to be an extremely difficult second half of 2012 for Americans, as employment worries rise and the household balance sheet continues to deteriorate.”

With yet another month of weak employment growth, the second quarter marks the weakest three-month period in two years, fueling optimism that the Federal Reserve will step in with additional monetary easing. Recent economic reports have been dismal with the ISM manufacturing index earlier this week indicating a contraction for the first time since 2009.


36 posted on 07/06/2012 7:38:15 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: ScottinVA

“U-6 unemployment at 14.9% - that’s 0.1% UP from last month.”

The GOP has to train itself to focus on THAT number.
_______________________________________________________________________

Someone had better tell the candidate. He’s headed off to the Olympics and a European tour.


37 posted on 07/06/2012 7:46:18 AM PDT by Deo volente (God willing, America will survive this Obamination.)
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To: Deo volente
From Business Insider:

The latest jobs report was a major disappointment, as the 80K number of net new jobs created was below the 100K that was expected, and well below any pace that will quickly reduce the unemployment number, which remains elevated at 8.2%.

And so we bring you the latest, updated version of this famous chart from Bill McBride at Calculated Risk, which shows the trajectory of the jobs decline (starting at the beginning o the recession) and the recovery, compared to all of the other post-WWII recessions.

Once again, the decline is far deeper than anything previous that we've seen, and the comeback remains bad.


38 posted on 07/06/2012 7:53:48 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Graewoulf
has the Federal Government EVER brought down the cost of ANYTHING?

Nope !

On 2nd thought, they successfully crashed the cost of houses, relative to 5 years ago.

Federal legislation made dollars super-cheap to borrow for millions of unqualified buyers, which inflated house prices til the borrowers began defaulting on the mortgages.

.

39 posted on 07/06/2012 7:57:53 AM PDT by repentant_pundit (Sammy's your uncle, but he behaves like a spoiled rotten kid.)
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To: Perdogg

So when are the Obamas having their next White House party?


40 posted on 07/06/2012 8:00:08 AM PDT by mass55th (Courage is being scared to death - but saddling up anyway...John Wayne)
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To: Hemingway's Ghost

from your link:

http://blogs.wsj.com/economics/2012/07/06/broader-jobless-rate-ticks-up-to-14-9/

Unemployment rate
February, 2009: 8.1%
June, 2012: 8.2 %

Pretty much says it all regarding this administration.


41 posted on 07/06/2012 8:02:15 AM PDT by Deo volente (God willing, America will survive this Obamination.)
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To: csmusaret
>”And 85,000 applied for disability”<

They didn't “apply”, they are now receiving.

42 posted on 07/06/2012 8:08:47 AM PDT by Kickass Conservative (Godfathercare, either your Freedom or your Money will be on that Insurance Policy.)
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To: Wyatt's Torch

That’s an excellent example of models going astray.

If the models were better, they’d already be programmed to ignore the ADP report, which has little to no predictive skill for the BLS report.


43 posted on 07/06/2012 8:15:12 AM PDT by NVDave
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To: Perdogg

And let the spin begin!

“Public Radio Spins Stagnant Jobs Numbers for Obama: ‘Growth Nonetheless!’ “

http://www.breitbart.com/Big-Journalism/2012/07/06/Public-Radio-Spins-Stagnant-Unemployment-Numbers-for-Obama-Growth-Nonetheless

Expect it from the rest of the media.


44 posted on 07/06/2012 8:27:58 AM PDT by chessplayer
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To: Kickass Conservative

Even worse.


45 posted on 07/06/2012 8:28:23 AM PDT by csmusaret (I will give Obama credit for one thing- he is living proof that familiarity breeds contempt.)
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To: concerned about politics

The cost of unemployment to the economy each year far eclipses what the “stimulus” cost us. It’s not easy valuing what the Obama administration has cost our nation, just in pecuniary terms, but it staggers belief. And most of these expenditures naturally exacerbate the “problems” they supposedly were allotted to address.


46 posted on 07/06/2012 4:40:26 PM PDT by fire and forget
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To: concerned about politics

The cost of unemployment to the economy each year far eclipses what the “stimulus” cost us. It’s not easy valuing what the Obama administration has cost our nation, just in pecuniary terms, but it staggers belief. And most of these expenditures naturally exacerbate the “problems” they supposedly were allotted to address.


47 posted on 07/06/2012 4:41:06 PM PDT by fire and forget
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