Employment Situation Summary: 8.1%

Bureau of Labor Statistics ^ | 7 Sep 12 | Bureau of Labor Statistics

[mj1234]

It- Has already happened- THe RED STAR TRibune HEADLINE:

Unemployment Rate FALLS to 8.1 !

(they also sent this out as a “news Alert”)

[Wyatt's Torch]

Obama said unemployment would be much lower than it is now:

[Jane Long]

Maybe we ought to take a fork and stick in our empty chairs?

LOL...that's the perfect visual for Obamanomics™!

[alancarp]

Funny, with literally EVERY jobs report being "revised downward" after the fact, I don't recall any of the overall rate figures ever being belatedly revised upward.

[Qbert]

"They can still manipulate the numbers at the end of September to get that 8.1% into the 7.9% range. Don't be surprised if we see the number UNDER 8.0% headlinging the news just before the election."

I know the MSM would try to spin that as wonderful- but why should we let them control the narrative? Even 7% unemployment is a disaster after this long into the supposed "recovery". Obama has squandered trillions and trillions to barely move the needle from when he took office.

And IIRC, the Obama administration told us we would be under 6% unemployment by now with the stimulus package. So, by his own standards, his signature economic piece was a colossal failure...

[manc]

that’s true but you know the elft will just tell their cult that the unemployment rate is down and the cult will cheer and then get onto FB and then tell their pals how oabma is helping us and how unemployment is down.

Facts are something which most of the left cannot understand

[plain talk]

This stinks to high heaven. There is no way you drop job gains from 141,000 in july to 96,000 in august (30 percent drop) and say unemployment went down. Any of their “explanations” is just BS.

[The G Man]

Here was David Leonhardt, Washington bureau chief of the NY Times, on Twitter earlier this morning prior to the jobs report:

‏@DLeonhardt
Jobs preview: 100k or less=recovery still hobbled; 100-150: picking up but slowly; 150-200:spring lull is over; 200+: liftoff, at long last?

[Jane Long]

Yep, he predicted 5% by now....and that if he "couldn't turn the economy around in three years, I will be looking at a one-term proposition".

Good riddance!

[Wyatt's Torch]

From ZeroHedge:

[xzins]

This stinks to high heaven. There is no way you drop job gains from 141,000 in july to 96,000 in august (30 percent drop) and say unemployment went down. Any of their “explanations” is just BS.

Bulleye, PT.

You are a credit to your freeper name.

How do you have fewer jobs created (96000) and then turn around and say things are getting better (8.1% instead of 8.3%)?

That's like a politician telling a worker he's going to lower the guy's income through higher taxes, but that he'll be better off. if the worker has any sense, he'll call that politician an idiot.

[kabar]

There are only 2 reports left until Election Day with the last coming on November 2. It is going to be very difficult to make a trend out of two reports. And now for the entire month of September and until October 5 when the next report comes out, Romney and Ryan can make hay out of this one.

Even a good report on November 2 will be hard to spin until election day. And don't forget that about a third of voters vote early or by absentee ballot.

[concerned about politics]

In this morning's report...two things to notice. First is that the workforce available to work dropped 368,000...so now jobs gain as well......magical.
This, in turn, leads to the labor participation rate...how many are really working out of the lower labor force number.
This will be spun as good news by the left, but the American job market is still hemmoragining big time.

[Jane Long]

No president since FDR during the Great Depression, has been re-elected with a jobless rate over 8 percent.

[csmusaret]

How many tried?

[tcrlaf]

Bloomberg had Hilda Silas on, saying it was PROOF that, “America is moving in the right direction!”.

Worse yet. she said it with a straight face...

[Friendofgeorge]

I believe they have been feeding us lies out of Obama labor dept for months and months, was surprised a bit they did not build it up a bit?

[kabar]

And FDR lowered the unemployment rate in his first term. In 1933 when he took office it was 24.1%. In 1936, it had dropped to 17%. Thus, FDR could claim his policies were working. Obama won’t be able to lower the unemployment to below 7.8% when he took office.

[snarkytart]

No that 380,000 number means no longer looking for work, not that they’re employed. IF that were try the job report would reflect that.

This is not a good jobs report no matter how anybody tries to spin it.

[St_Thomas_Aquinas]

Happy days are here again!

Except I’m being laid off for the second time under Odumbo. Never before, in 30 years. Probably a coincidence.

Last time I had severance, and actually came out ahead. Not too worried now, since I expect a Romney victory.

But let’s just say that when this asshat gets booted, I’m going to fire up the biggest stogie I can find. (Cue guy smoking giant doobie photo).