Skip to comments.Unemployment falls to 9.0 pct., only 36K new jobs (Presto)
Posted on 02/04/2011 5:57:22 AM PST by nhwingut
WASHINGTON (AP) -- The unemployment rate dropped sharply last month to 9 percent, the lowest level in nearly two years. But the economy generated only 36,000 net new jobs, the fewest in four months.
(Excerpt) Read more at finance.yahoo.com ...
I heard on the news yesterday that this month it’s 9.8%.
Well, I guess all is well then! *SPIT*
We need 600,000 PRIVATE SECTOR jobs per MONTH to drag us out of this. How STUPID do they think we are? (Very, obviously!)
Im sorry; were 36000 jobs created, or were 36000 fewer jobs lost?
Was this news unexpected?
I’d say it’s the most creative numbers scheme I’d ever seen, but everyone knows it’s just an outright lie.
U-6 numbers show 16.1% of us are under/unemployed!
Wrong, they do an even better job with CPI numbers.
This just means that a hell of a lot of people gave up on looking for work. It’s pretty obvious.
Only 36,000 jobs should have seen the unemployment rate go up to about 9.8! Someone in the fudge dept screwed up and now its going to shine a brighter light.
Bill Hemmer on FoxNews just called the 9.0% number deceiving, because job creation is only at 36,000 for all of January.
Stuart Varney says that ‘fewer people are looking for work’ because the jobs just are not there. Those people are no longer counted.
The Admin is obviously juggling and fudging the numbers.
If that number were anywhere near believed, the only number that actually counts, the DJI, would be up 1000 points pre market.
It is not.
Product of creative accounting 101. (.)bama needs good numbers so the dems can say: how can you cut the budget, things are just beginning to work!
Figures don’t lie, but liars can figure.
Varney stated deep in the report 300,000 gave up looking for work thus the lower unemployment rate.
This report from the gov’t is bogus big time.
That was the gallop survey number. It is likely more accurate because the government numbers only factor those on unemployment I think. Many people get booted off the roles after so much and essentially quit looking for employment and don’t factor into the 9.0 percent as I understand it.
accounting books the mob would be proud of producing themselves.
Actually, do not laugh, this is great news for Conservative thinking. Why? glad you asked.
Over the last 9 -12 months, economists have known that about 1 million (good) jobs were available, but employers could not fill them. Economists opined and gave several reasons, such as:
1.) Upper Middle aged unemployed that are unwilling to relocate
2.) Social ineptness of young college grads making them unhireable
3.) White collar worker that have fallen technologically behind
But the most controversial reason was that people choose to be unemployed and collect unemployment benefits. The support for this argument was that every time benefits expired, hiring picked-up. I suspect 1/2 million people got Jesus since benefits are running out and a new Congress is in town. Conservative thinking wins again- take away socialism and people get to work.
I read that yesterday too, I wonder what happened to that number?
Correction not 300,000 left work force IT more like 504,000.
why do they not count those with no jobs who have no unemployment, I bet if Bush was in the biased corrupted media would mention it.
If it’s really 9% it’s only because a million or so dropped off the rolls due the expiration of their benefits. Not because they found work.
Yeah,right!!! Like we are going to get the truth from this regime and their hand puppets in the lame stream.
“Analysts” blame the anemic hiring numbers (36K) on the weather, yet CANADA — with 10% of our population — generated 69K+.
The “it’s-the-weather’s-fault” line isn’t holding water this time.
we lost more jobs than created but the unemployment figures go down.
Only our biased media could clock this up to being good when obama is in and yet if Bush was in the corrupt media would be having a field day wit the real numbers
I full expect the GOP to be out in a few minutes telling the public what the real figures are and get out there before this admin spins it again .
oh wait we’re talking GOP, OK forget it they won’t do that, we just like ot react and play on the defense
Im sorry; were 36000 jobs created, or were 36000 fewer jobs lost?
It will not take long under this scenario, for the economy to crash hard and fast.
On one hand, we have all these “underemployed” making substandard wages with no chance for a raise and few benefits, unable to save for bad times. (And probably don’t during good times either.)
As inflation kicks in, (A guarantee) energy costs double, food and cost of living doubles, small employers have to start laying off to pay the higher cost to operate a business. Many business will just close or go bankrupt.
Consumer spending really tanks rapidly this time. Record numbers of people will become unemployed, Government now is paying double for Food Stamps, the Unemployed get their full 98 week draw all over again, government operating costs will double, the National Debt will go over 20 Trillion.
The idiots at the Fed and the Treasury Dept. will keep on printing worthless cash and buying it’s own debt. (Loaning money to itself) The right pocket (The Treasury) owes the left pocket (The Federal Reserve) 5 trillion Dollars, so the right pocket prints another 5 Trillion in cash to pay back the money it owes the Left pocket.
All of this is because they no longer can or will borrow from other countries. The result will be even more runaway inflation. Or better said, Hyper inflation.
Thanks to this incompetent and dangerous combination of idiots now in charge of our economy, there is no longer such a thing as a “recovery”! But even worse, very few people know or care about just how much trouble we are actually in!
9.) pct? I call BS....how many long term unemployed dropped off the rolls this month because they stopped looking for jobs?
Nothing more than phoney BS numbers manipulations that DO NOT reflect the real unemployment numbers in this country, which are 17+ pct....idiot number crusnchers me’thinks. =.=
So, who's contacting all these unemployed people to find out if they've stopped looking for jobs?
I went to the DOL's website once to see how they calculate this number. Here it is, all scientific and stuff:
Let’s hear it for the funniest post o’ the day! :)
9% my ass.
Sorry. I didn’t study 0bama’s sort of math. You add 36,000 jobs in an economy of 150 million and unemployment goes from 9.6% or 9.4% or whatever bogus number they were using before to 9.0%. Amazing. What are they investing in, cause I want the same kind of returns.
Wow, the magic man has come through. I mean, you have to believe the numbers...look at all the things he’s doing to create jobs...growing government...that’s how to get a country back on track. 733 exceptions to Obamacare granted to union thug groups, 103 drilling permits denied even though he said he opened up off shore drilling; even a dem congress critter in Alaska is angry because of Obama’s administration is dragging their feet on drilling in one area of Alaska.
Jobs o’ plenty! Whoo hoo!
Let’s see, if the denominator shrinks because of fewer actually looking...like, committing suicide, giving up and living as a hobo...I guess the math does work! What a plan!
“Varney stated deep in the report 300,000 gave up looking for work thus the lower unemployment rate.”
So if 100% of workers gave up looking, then we’d have 0% unemployment?
Lies, damn lies and statistics......
Unemployment fell because the Labor Department's household survey determined that more than a half-million people without jobs found work.
So they just DETERMINED it to be so. Like the liberal Congress was going to "DEEM" the bill to be passed...
What a crock. They "determined" something to be so, but the survey of businesses finds differently. What a load of $#!+
I was thinking the same thing. There is no earthly way that you can have only 36,000 new jobs and have the unemployment rate fall to 9.0 percent. The less people in the pool seeking work, the better the unemployment numbers seem.
Question: Do those who are no longer eligible for unemployment benefits or seeking assistance get figured into the unemployment number?
We should be thankfor the leadership of the Chosen One. Under his leadership, unemployment goes down even no jobs created. It’s a Miracle!
Does not compute.
By George, you've got it!
It's the marxist utopia: Nobody works and everybody has everything they want. Simple.
They are either showeling snow (job) or can’t get to unemployment office, because they are lazy to dig out the car.
Anyone counting closed businesses???
I think the “steep decline” to 9.0% reflects a very large chunk of folks who have simply left the market; given up on ever finding a job and not on the UI rolls.
Surveys are funny things. You can use them to lie, or to support the truth. Surveys do not, however, provide hard empirical facts. If 600k people are not unemployed anymore, then they need to demonstrate that through the use of facts, not statistical samples.
Yes, but if so, the U-6 number should go up... but it went down, also. So, I'm a bit confused on this. The economy clearly isn't great, but it's had a lot of stimulation.
Just ask yourself "What would T Jefferson do?" I believe he would rightly put aside such political issues that typically divide us, and save his moral outrage at what has become of this country. The criminals who masquerade as partisans just laugh to themselves at the stupidity of Americans who keep allowing them to rape & pillage at will.
They don't give a sh!t if it the state spends funds on welfare or warfare, as long as the bankers get to loan phantom money, with interest, payable by unborn generations' taxed earnings.
The regime has decreed that unemployment will decline, but the regime’s policies are destroying jobs. The only alternative left for this regime is to fudge the numbers. Welcome to the Banana Republic formerly known as the USA.
When the protests began in Egypt, I heard numerous reports in the American news media that the Egyptians were rioting over their dismal economy and unemployment. I searched for current Egyptian unemployment numbers and found figures of 10 percent unemploymernt and up to 25 percent unemployment for Egyptian youth. Aren’t those numbers approximately the same as ours?
After the first day or so, I didn’t hear any more news reports that the Egyptians were protesting their economy. The media switched to the rights of expression and assembly, as well as the right to internet access as the reason for the protests.
The Obama supporting media obviously figured out that they couldn’t report overthrowing Mubarek for economic reasons lest they suggest that Obama is also an economic failure.
Yes, aka the BadCrock O'Bananas Republic (just absent the bananas and the Republic portions).