Posted on 08/03/2012 5:36:33 AM PDT by Perdogg
The U.S. economy closed out an otherwise weak second quarter by creating more jobs than expected, with 163,000 new positions added, but the unemployment rate fell to 8.3 percent. June saw 80,000 new jobs.
(Excerpt) Read more at cnbc.com ...
Falling means lower, rising means higher. In the case of unemployment, rising is bad and is not the direction you want to be going.
Just the last day or two, Obama’s been out there crowing about how his economic plan has worked. On what planet?
165K is still terribl considering we are supposedly in the third year of the recovery.
Thanks for posting. I did it when it was breaking on air but for some reason the thread got yanked...I guess URL inclusion is needed even if the breaking news is accurate and inevitably accessible.
Well, for some of us anyway ;-)
That only makes sense if they were counted as unemployed when summer recess started. I don't believe that is the case--teachers don't draw unemployment all summer, as far as I know!
Clip from NPR:
Update at 8:42 a.m. ET. Job Growth Averaging Around 150,000 A Month:
According to BLS, “since the beginning of this year, employment growth has averaged 151,000 per month, about the same as the average monthly gain of 153,000 in 2011.”
At that pace, however, there aren’t enough new jobs being added to bring down the unemployment rate.
...................................
I swear, these people ought to be stood up against a wall and offered one last cigarette.
Does anybody think Obama voters really want jobs?
I think they include teachers going back to work as well.
It’s higher than that.
OK, but are teacher counted as unemployed when school ends in June?
Gasoline just skyrocketed to $4/gallon here in Indiana.
Unemployment going back up.
Baraq is gonna suck bilgewater come November.
To be revised downward shortly...
They corrected it.
* The unemployment rate, which is derived from a separate survey of households, rose to 8.3 percent. That will give Republican presidential hopeful Mitt Romney ammunition for his charge that President Barack Obama has not done enough to help the economy since the 2007-2009 recession. It also raises pressure on Federal Reserve to ease monetary policy. The household employment survey ran in the opposite direction as the establishment survey of employers. The household survey showed the number of people with jobs fell by 195,000. In another worrisome sign, the household survey showed the size of the workforce decreased by 150,000. To be in the workforce, a worker must be either employed or seeking work. The participation rate, a measure of the amount of people employed compared to the size of the workforce, fell to 63.7 percent from 63.8 percent.
and these numbers will be revised as well. Watch!
Unexpected! Everybody *hic* drink!
How widely did they correct? Did they retract in all the early/late morning drive time scripts they sent out to local radio? Did they get all the stations to retract their sound bites? Damage was done and intentionally, the retraction was likely perfunctory, but meaningless.
So Halleluja, this is fantastic news. We MUST send BO back to the white house.
I am not sure. I do not understand how or why they counted.
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.