Skip to comments.Jobless rate drops to lowest in almost 3 years
Posted on 02/03/2012 6:04:18 AM PST by John W
The U.S. economy produced another solid month of job gains in January, offering a hopeful sign for hiring in the year ahead.
Employers added a net 243,000 jobs last month, the Labor Department reported Friday. Thats higher than December, when employers added a net 200,000 jobs, and it marked the seventh straight month in which at least 100,000 jobs were created. That hasn't happened since 2005.
The nations unemployment rate fell to 8.3 percent in January from 8.5 percent in the prior month. The unemployment rate has fallen for the past five months and is now at its lowest level in nearly three years.
(Excerpt) Read more at bottomline.msnbc.msn.com ...
Obama can’t change reality, only the media’s reporting of fantasy.
He isn’t creating jobs for people...and they remember every day when they wake up with less purchasing power.
Quit being defeatist. Obama is a liar, and people know it.
They also look at him as a manipulator. Remember when they laughed at him in Ohio when he said “You inspire me!”? He is a joke...and increasingly so.
when will the GOP stand up and tell everyone when they took control of the congress and regained seats in the senate the jobless rate was 9.9% but has since fallen 1.6%???
It’s pretty easy to see how they gamed this number. Just declare that over a million people are no longer “in” the labor force. (Actually 1.18 million - see thread a few up from this one.)
We are on the same unemployment track line as Greece was on in 2006 at 9% gradually bottoming out at 7.5% in mid 2008 then spiking dramatically to it’s current rate of 19%.
When people stop looking for private sector jobs that don’t exist and live off the continual public dole and the government’s answer is to create more government for jobs that is
paid for by taxing the producers, we have
the perfect storm that is now Greece and the larger Eurozone. Our perfect storm is just a few years away.
This guy has some good information about what an economic collapse actually looks like and how you should prepare:
Let’s see, take the jobs issue off the table, take Obamacare off the table (with Romney nomination), and what are we left with? Another 4 glorious years of King Obama! Yee ha!
Was Obama just re-elected? Everyone expected lackluster job growth because many of the Dec jobs were holiday (temporary) ones. But January was robust. Very likely now the rate will be under the magic 8% by Election Day and the GOP argument will be gutted (”You said if the stimulus was passed we would not go above 8%!”). Obama would only have to say “The stimulus worked, and I saved the auto industry”, and he’s back in. Disagree? Then tell me why. The GOP choices are the worst crop since the 1972 Democrats, and the American people are stupid and gullible.
It really doesn’t matter. Neither Romney nor Gingrich will win in November.
I wish I had your optimism.
I started a spread sheet (yes, I'm a geek), using BLS numbers(NOT seasonally adjusted, which is just another trick to make the numbers look better.
Here are the facts. In Jan 12, the civilian "population" was 242,269,000, an increase of 1,685,000 over December.
The civilian work force was 153,485,000, an increase of 112,000. This DROPPED the labor force rate from 63.8% to 63.4%.
The number of people employed DROPPED by 737,000 to 139,994,000.
The number of unemployed INCREASED by 849,000 to 13,541,000. The unemployment rate therefore INCREASE from 8.3% to 8.8%.
In January '09, when Obozo was sworn in, the labor force participation rate was 65.4% (today only 63.4%). With the increase in population, if the participation rate was still 65.4% today, the real unemployment would be 11.7%
Those are the real harsh facts! Don't buy into the lies!
Go to the website and look at the data yourself: http://www.bls.gov/webapps/legacy/cpsatab1.htm
Fox News guy mentioned around 5:45 AM this morning that the Dept. of Labor tweaked the way they calculate the number...THE FIX IS IN.
While gasoline is on the rise with ‘summer blends’ soon to hit...
I chuckled as I pulled out a 5lb bag of flour and thought I should save this bag...it is going to be worth something one day...as bags of flour dropped from 5lb to 4lb to the new fangled 2lb.
The shampoo I recently bought was watered down too. In the 1970’s my Mom would buy gallon jugs of shampoo from Revco and then separate it out into smaller containers by half and then water it down to save money. Now, I guess I don't need to go through the trouble ...and still pay the same amount.
Similar was noted the recent purchase of toilet bowl cleaner. Gone is the clingy cleany to the watered down blue colored stuff.
Soup used to serve 4 and it now clearly is labeled to serve only 3 or even just 2.
A recent purchase of large eggs at Walmart left me holding only mediums compared to the prior eggs.
The most obvious economic indicator for me is the time it takes me to commute to work.
I have noticed a significant increase in my commuting time in the last few months.
These people must be driving somewhere at 6:30 in the morning, and I don’t think it is the unemployment office.
I wonder how the 15,000 people who are losing their jobs at American Airlines feel about this news?
If people really know the truth, then the stock market will not jump on this news.
If people know the truth, the market should react on the overall news about the work force, which is still very bad.
Riiiiiiiiight. As long as one redefines enough terms. Then again, that is a mainstay of liberals and their lapdogs in the media.
The company I work for is only hiring part timers and temporary contract help.
If you buy a 4lb. bag of flour at the 5lb. price, it shows up in the government’s inflation statistics, because the government calculates inflation by lb., and not by bag.
The problem for Obama is that we should be creating over 500,000 jobs on a monthly basis and 4 to 5 percent growth in GDP this far into recovery and we are not...We are going to go into another recessision soon.
I’m afraid you’re right. In fact, I expect him to landslide in and bring a lot of Dems with him. When you control the message it’s hard to be beaten. Frankly, I don’t think it would matter who we nominated or the health care issue- Americans are dumb people. We are not the Americans of our parents and grandparents. We’ve just become some teeming mass of drooling, text-speak, sloths with no critical thinking skills. Sad.
I have noticed a significant increase in my commuting time in the last few months.
These people must be driving somewhere at 6:30 in the morning, and I dont think it is the unemployment office.
Ever think of another possibility for what you are observing? Maybe a parallel artery is undergoing construction and therefore causes traffic that normally took that route to spill over onto your route?
Please reread postings on this thread.
Only those who drink the Obama Kool-Aid believe
any financial data generated by this administration.
And American will be axing tens of thousands of jobs in the near future as well. So will Met Life.
...The nation has about 5.6 million fewer jobs than it did when the recession began in late 2007.
That's why the unemployment rate keeps falling.
Don't worry, Democrat plant, Crybaby Boehner, will be more than happy to continue supporting all facets of Obama's agenda.
See QE worked. We need more stimulus. /s
Well then enlighten us ... how do they do it?
"As soon as they get here, we need to co-opt them." - Trent Lott
The manipulation of employment data is one of the biggest ‘known’ lies in the world of government stats (regardless of the party in control).
And, still people drink the Kool-Aid and shake the pom-poms.
We are marching toward the reset button...
trent was my senator... I despise his guts.
The liars are saying 1.3 million people dropped out of the workforce last month. It is all LIES.
The primary method the government uses to massage its unemployment rate number is to decrease/increase the labor force participation rate.
Unemployment compensation (or lack thereof) has nothing to do with the way the unemployment rate is calculated.
There, I said it again. Can someone repeat it now and then so that people don't think all conservatives are clueless with regard to economics?
I absolutely agree with you. When you look at the trend (no matter how loud we scream here on FR about real unemploymnet, participation rates, etc), the apolitical types (who read Yahoo and AOL) are going to read the glowing headlines and see things improving. Obama’s policies are all going to be trumped as the main reason for improvement. Those are political realities when you have a media that is so in the tank for Obama.
And when you factor in a stable of pathetic candidates on our side, we are going to lose in a landslide. Prepare for a disaster over the next 4 years. Start planning.
There are no blocked parallel arteries on my commute. Traffic has increased dramatically in the last few months. We need to face the truth. For whatever reason the economy is apparently taking a turn for the better, at least where I live. It may just be that people have given up on being unemployed and are taking lower paying jobs or it may be that this is the year the trillion dollar stimulus package is being used.
I anticipate that the economy is going to improve between now and November, and that is a fact we are going to have to be prepared to deal with.
Pretending or even hoping that things are getting worse going into this election is not a viable strategy. Unemployment will likely be below 8% by the time of the election. I don’t know why, but it will be.
Agree 100%. I don't discount the 243K figure but what is the quality of jobs being made? As I said the company I work for has increased hiring over the last year but they are going through a temp agency..no benefits/health insurance or hiring part timers.
I predict it will be 5% by election day.
That comment is so dead on in so many ways, BTTT!!