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Jobless rate drops to lowest in almost 3 years
msnbc.com ^ | February 3, 2012 | msnbc.com news services

Posted on 02/03/2012 6:04:18 AM PST by John W

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To: John W

The CBO projects unemployment will rise, hitting 8.8 percent in the third quarter of the year, the heart of the campaign.

******

The bombshell CBO report and why Obama should be worried
Hot Air ^ | February 2, 2012 | Ed Morrissey

Today, Politico’s Jim VandeHei reports that economic indicators should have Barack Obama worried about his re-election prospects, not more sanguine. VandeHei relies heavily on this week’s economic and deficit projections from the CBO, but perhaps not heavily enough:

A new CBO report grabbed lots of headlines for projecting the deficit will top $1 trillion this year — making Obama the first president ever to pile up $1 trillion or more every year in office. That’s not great politics. But it’s not even the worst news contained in the CBO report. The unemployment number is.

The CBO projects unemployment will rise, hitting 8.8 percent in the third quarter of the year, the heart of the campaign. That’s terrible politics. Obama advisers have told us repeatedly on background that if unemployment is above 8.5 percent in the final months of the campaign, it will be extremely hard, if not impossible, to win. The advisers say independents will not return to Obama if it looks like economic growth is anemic and uncertain and it looks like his policies did little, if anything, to create new jobs under his watch.

Economists seem divided on the question of whether robust enough economic and job growth can happen in time for Obama to benefit. Some see signs of possibility in holiday sales and consumer spending in some parts of the country. Others see more of the same: a slow slog back. The CBO sees 2.2 percent growth in the quarter ending in September, essentially the same sluggish pace of a year earlier.

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

http://www.freerepublic.com/focus/f-news/2841602/posts


121 posted on 02/03/2012 8:08:20 AM PST by kcvl
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To: CodeToad
Democrats that got tired of being out of work, having high prices and interest rates, and being told by Democrats like Carter that all was well.

Heard on the radio and it makes perfect sense. While WE can see what is on the horizon with another four years of Obama, those same "Reagan Democrats" will not be moved to vote for a non-Democrat UNTIL AFTER another four years of Obama. UGH!!!
122 posted on 02/03/2012 8:17:28 AM PST by Eagle of Liberty (We the People are coming!!)
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To: P-Marlowe
For whatever reason the economy is apparently taking a turn for the better ...

And your basing that on what exactly? The BLS numbers? They're bogus!

Do you know what the birth/death rate is with respect to the published BLS numbers? This is a part of the formula they use to come to their fictitious numbers. They literally GUESS that there must have been x number of new small businesses formed last month in the US economy and y number of small businesses that have folded. So by manipulating the GUESS they can make the final number employment numbers say anything they want.

123 posted on 02/03/2012 8:23:15 AM PST by JohnG45
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To: EBH

I saw the 4lb bag of sugar the other day.


124 posted on 02/03/2012 8:23:30 AM PST by GOPsterinMA (Farewell sweet Rick, we barely knew ye...)
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To: JohnG45

The BLS manipulates the numbers all the Hell. Such as, they remove from those counted as unemployed that have not sought work in the past 30 days. Also, they claim to interview the same 60,000 people each month, yet, where are those people? Which States and industry sectors? That “polling”, in itself, is manipulation.


125 posted on 02/03/2012 8:27:55 AM PST by CodeToad (NO TAXATION WITHOUT REPRESENTATION!!!)
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To: P-Marlowe

See this thread explaining how 1.2 million people have dropped out of the labor force.

http://www.freerepublic.com/focus/f-news/2841974/posts


126 posted on 02/03/2012 8:30:18 AM PST by JohnG45
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To: ltc8k6
If people really know the truth, then the stock market will not jump on this news.

most of the people not only do not know the truth, they are not interested in learning the truth. They prefer to believe as gospel what the six o'clock news anchors tell them. The stock market will continue to do what it takes to make obama look good.

127 posted on 02/03/2012 8:33:34 AM PST by sport
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Part-timers and the abandoned not accounted for.

Go to Hell, propagandists.


128 posted on 02/03/2012 8:35:20 AM PST by Gene Eric (C'mon, Virginia -- are you with us or against us?!)
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To: John W
“The nation has about 5.6 million fewer jobs than it did when the recession began in late 2007.”

This says it all. These are jobs that will never return to the US and the people that occupied them have already long exhausted their unemployment benefits so they are counted anymore.

These numbers put out by the Labor Dept are nothing but another Government agency trying to help Obama.

129 posted on 02/03/2012 8:38:35 AM PST by tobyhill (Obama, The Biggest Thief In American History)
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To: CaptainK

America will pass judgement on Obama not the media on election day!....


130 posted on 02/03/2012 8:41:23 AM PST by AngelesCrestHighway
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To: Paradox
Its not about "America", its about those 20% in the middle. Those 20% in the middle are, well, intellectually lazy, to say the least. As for being sunk, the way I see it, we have been slowly sinking for many decades, as conservatives, we are lucky to slow the sinking at best these days.

I would actually say that it is the 55+% of Americans that do not identify themselves as conservatives. I have come to the reality that, just as during the time of the Revolutionary War when a minority actually wanted Independence, so to is it a minority that really wants their freedom back.
131 posted on 02/03/2012 8:46:05 AM PST by Eagle of Liberty (We the People are coming!!)
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To: John W

And what does Boehner say? Essentially nothing but “we could do better”...no mention of employment participation rate being LOWEST!!!

Boehner is essentially a useful idiot for Soros/Obama.


132 posted on 02/03/2012 8:50:41 AM PST by CincyRichieRich (Keep your head up and keep moving forward!)
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To: andy58-in-nh
It's called the annual benchmark adjustment. They sample less so they get a higher percentage of employment and lower unemployment numbers.

I just spoke to an economist at the Labor Dept and at first he denied the adjustment would be that high until he looked at the numbers and had to admit it was the reason for the drop. He then qualified it with “under every President they adjust the numbers, not just for Obama”.

I asked him what the percentage would be if the workforce numbers were the same as Jan. 2009 and he told me “9.4% to 9.5%”.

133 posted on 02/03/2012 8:50:51 AM PST by tobyhill (Obama, The Biggest Thief In American History)
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To: Afronaut

“A record 1.2 million dropped out of the labor force. Spin that.”

Most any government employee that can retire and lock in a defined benefit pension is. Florida is filling up with early retired city/state/fed employees from the Upper Midwest and NE. These are people in their late 40’s to mid 50’s and they will be retired for 30 years. They will bankrupt us.


134 posted on 02/03/2012 8:53:13 AM PST by lodi90
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To: CincyRichieRich
Will anyone from our side (Rush, Hannity, et al) actually cover this? It's as if we're living in a vacuum.
135 posted on 02/03/2012 8:54:09 AM PST by CincyRichieRich (Keep your head up and keep moving forward!)
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To: John W

Next up, Obama exective order requiring everyone to have a job by spring.


136 posted on 02/03/2012 8:54:36 AM PST by topfile
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To: yobid
"100% who work are working. Unemployment is now @ 0%. /sar "

I think you're on to something. Maybe the way we should tally unemployment is count up the job classifieds. That should get right about 1.5% LOL!

137 posted on 02/03/2012 8:56:20 AM PST by moehoward
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To: JohnG45; xzins; Paradox
And your basing that on what exactly?

Morning and afternoon commute times.

I thought I made that clear.

There is a lot more traffic this year than there has been in the last 2 years. To me that is the LEADING economic indicator. When the time it takes to get to work is increased, then the logical conclusion is that there are more people going to work along with you.

So by manipulating the GUESS they can make the final number employment numbers say anything they want.

What if the economy IS improving? Would that upset you? Is our only weapon to use against Obama the fact that the economy is worse than when George W Bush left office? What are we going to do if the Stock Market is above 14,000 and unemployment is below 8% come November?

What will our campaign strategy be then?

138 posted on 02/03/2012 9:00:26 AM PST by P-Marlowe (NEWT!!! The Anti-EstablishMITTarian Candidate)
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To: John W

For a complete and total destruction of those numbers:

http://www.zerohedge.com/news/record-12-million-people-fall-out-labor-force-one-month-labor-force-participation-rate-tumbles-


139 posted on 02/03/2012 9:16:50 AM PST by Personal Responsibility (Obama 2012: Dozens of MSNBC viewers can't be wrong!)
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To: Reagan is King
With the economy improving there should be more unemployed back in the market looking which would actually drive the unemployment rate up.

This isn't cooking the books, it's nuking them.

140 posted on 02/03/2012 9:17:40 AM PST by AU72
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