Unemployment drops to 7.8%, labor force up.
       |           

Welcome, Guest. Please login or register.
Did you miss your activation email?
March 28, 2024, 04:43:23 AM
News: Election Simulator 2.0 Released. Senate/Gubernatorial maps, proportional electoral votes, and more - Read more

  Talk Elections
  Election Archive
  Election Archive
  2012 Elections
  Unemployment drops to 7.8%, labor force up.
« previous next »
Pages: [1] 2 3 4 5
Author Topic: Unemployment drops to 7.8%, labor force up.  (Read 4444 times)
Oakvale
oakvale
Atlas Icon
*****
Posts: 11,827
Ukraine
Political Matrix
E: -0.77, S: -4.00

Show only this user's posts in this thread
« on: October 05, 2012, 07:36:47 AM »

I think we can safely call this good news for Obama. Wink

Key point -

Quote
You must be logged in to read this quote.

What debate?
Logged
Beet
Atlas Star
*****
Posts: 28,802


Show only this user's posts in this thread
« Reply #1 on: October 05, 2012, 07:39:16 AM »

This month- +114,000
Last month- +142,000, revised from +96,000
July - +181,000, revised from +141,000
Workweek up 0.1 to 34.5 hours
Hourly wages up 0.4 percent
Jobless rate down sharply to 7.8 percent

In the past 3 months, jobs growth has been at a monthly average rate of 146,000 per month. That's above the 104,115 per month needed to keep up with population growth. In fact, it's consistent with a long term unemployment rate under 8 percent. So the drop of unemployment below 8 percent cannot be attributed to labor force discouragement. Looking at the revisions, again, particularly to August, it shows why we shouldn't put too much stock on one month's numbers, and look at the medium term trend instead.
Logged
Oakvale
oakvale
Atlas Icon
*****
Posts: 11,827
Ukraine
Political Matrix
E: -0.77, S: -4.00

Show only this user's posts in this thread
« Reply #2 on: October 05, 2012, 07:40:51 AM »

Don't these revisions basically show that Q3 was pretty good, all things considered?
Logged
Politico
YaBB God
*****
Posts: 4,862
Show only this user's posts in this thread
« Reply #3 on: October 05, 2012, 07:41:09 AM »
« Edited: October 05, 2012, 07:43:07 AM by Politico »


Maybe mediocre jobs reports are good news in Europe, but America expects better.

We need to get consistently on track with 200,000 to 250,000 jobs per month in order to finally get our employment situation back in order.

Romney can do it. Obama can't.
Logged
Sbane
sbane
Atlas Icon
*****
Posts: 15,303


Show only this user's posts in this thread
« Reply #4 on: October 05, 2012, 07:42:05 AM »

Considering the revisions, this is actually a pretty good jobs report. At first I had thought the drop in unemployment is due to lower labor force participation, but I was pleasantly surprised.
Logged
Sbane
sbane
Atlas Icon
*****
Posts: 15,303


Show only this user's posts in this thread
« Reply #5 on: October 05, 2012, 07:42:40 AM »

Stocks are going up as well, this is being regarded as a good report.
Logged
Brittain33
brittain33
Moderators
Atlas Star
*****
Posts: 21,933


Show only this user's posts in this thread
« Reply #6 on: October 05, 2012, 07:42:43 AM »

Dominating.

"43 months of unemployment above 8 percent" was such a useful line while it was true.
Logged
afleitch
Moderators
Atlas Star
*****
Posts: 29,833


Show only this user's posts in this thread
« Reply #7 on: October 05, 2012, 07:43:04 AM »


Maybe mediocre jobs reports are good news in Europe, but America expects better.

So employment keeping up with population growth, your mantra for the past few months doesn't matter anymore?
Logged
Oakvale
oakvale
Atlas Icon
*****
Posts: 11,827
Ukraine
Political Matrix
E: -0.77, S: -4.00

Show only this user's posts in this thread
« Reply #8 on: October 05, 2012, 07:43:27 AM »


Maybe mediocre jobs reports are good news in Europe, but America expects better.

Eh, look past the headline number - it's a pretty solid report.
Logged
morgieb
Junior Chimp
*****
Posts: 9,621
Australia


Political Matrix
E: -7.87, S: -8.70

Show only this user's posts in this thread
« Reply #9 on: October 05, 2012, 07:44:59 AM »

Oooh yay!
Logged
Politico
YaBB God
*****
Posts: 4,862
Show only this user's posts in this thread
« Reply #10 on: October 05, 2012, 07:45:10 AM »


Maybe mediocre jobs reports are good news in Europe, but America expects better.

So employment keeping up with population growth, your mantra for the past few months doesn't matter anymore?

I'm sorry, but cheering over 114,000 jobs being created almost half a decade after the start of the recession is downright pathetic.

This is clearly not good enough. We've had this malaise, it's not an outright recession but it's not a recovery either, for almost half a decade. It needs to change and soon before it's too late.

We have 23 million people out of work.
Logged
Starbucks Union Thug HokeyPuck
HockeyDude
Atlas Icon
*****
Posts: 11,376
United States


Show only this user's posts in this thread
« Reply #11 on: October 05, 2012, 07:46:10 AM »
« Edited: October 05, 2012, 07:48:50 AM by AWallTEP81 »

Can our resident GOP hacks please spin this as a disaster?

This is a good jobs report, considering the revisions, the slight upticks to wages and workweek, and labor force participation.

This is going to result in a couple very nice talking points politically. (considering this is the 2012 Election Board)

Let's take this to the economics board.
Logged
Sbane
sbane
Atlas Icon
*****
Posts: 15,303


Show only this user's posts in this thread
« Reply #12 on: October 05, 2012, 07:46:28 AM »

There was a lot of talk last month about the -368k drop in labor force participation. Well, this month it rose by 418k.
Logged
Politico
YaBB God
*****
Posts: 4,862
Show only this user's posts in this thread
« Reply #13 on: October 05, 2012, 07:46:43 AM »
« Edited: October 05, 2012, 08:05:50 AM by Politico »


Maybe mediocre jobs reports are good news in Europe, but America expects better.

Eh, look past the headline number - it's a pretty solid report.

It's a pretty solid report...if you're clinging to desperation.

Cheering over this is like cheering over a "C-" grade. Maybe that cuts it for some of you, but it does not cut it for most of America.

23 million people out of work. Millions more who can only find part-time work but want full-time work. This is unacceptable.
Logged
Sbane
sbane
Atlas Icon
*****
Posts: 15,303


Show only this user's posts in this thread
« Reply #14 on: October 05, 2012, 07:47:19 AM »


Maybe mediocre jobs reports are good news in Europe, but America expects better.

Eh, look past the headline number - it's a pretty solid report.

It's a pretty solid report...if you're clinging to desperation.

Talking of desperation....
Logged
Brittain33
brittain33
Moderators
Atlas Star
*****
Posts: 21,933


Show only this user's posts in this thread
« Reply #15 on: October 05, 2012, 07:47:52 AM »

Big Bird's going to be snapped up in no time
Logged
Politico
YaBB God
*****
Posts: 4,862
Show only this user's posts in this thread
« Reply #16 on: October 05, 2012, 08:02:13 AM »
« Edited: October 05, 2012, 08:07:40 AM by Politico »

In September 2011, 202,000 jobs were created.
In September 2012, only 114,000 jobs were created.

Things are getting worse, not better.

From 35 million people on food stamps to 47 million people; 23 million people out of work with millions more who can only find part-time work. These figures will not change until we have a change in leadership, and a president who understands the gravity of the situation along with economics (the president is a great speaker, but he is completely clueless on issues involving numbers as evidenced by the first debate).
Logged
J. J.
Atlas Superstar
*****
Posts: 32,892
United States


Show only this user's posts in this thread
« Reply #17 on: October 05, 2012, 08:04:42 AM »

Politically, very good numbers for Obama.  The only "bad" thing was that the unemployment rate isn't below where it was at his start date, and no one was expecting it to be better.

Don't these revisions basically show that Q3 was pretty good, all things considered?

Probably that Q3 was unnecessary. 
Logged
Oakvale
oakvale
Atlas Icon
*****
Posts: 11,827
Ukraine
Political Matrix
E: -0.77, S: -4.00

Show only this user's posts in this thread
« Reply #18 on: October 05, 2012, 08:05:48 AM »

Politically, very good numbers for Obama.  The only "bad" thing was that the unemployment rate isn't below where it was at his start date, and no one was expecting it to be better.

Don't these revisions basically show that Q3 was pretty good, all things considered?

Probably that Q3 was unnecessary. 

Q3, not QE3. Tongue
Logged
Politico
YaBB God
*****
Posts: 4,862
Show only this user's posts in this thread
« Reply #19 on: October 05, 2012, 08:06:30 AM »


Maybe mediocre jobs reports are good news in Europe, but America expects better.

Eh, look past the headline number - it's a pretty solid report.

It's a pretty solid report...if you're clinging to desperation.

Talking of desperation....


202,000 jobs were created in September 2011. Things are getting worse, not better.

What were you saying about desperation?
Logged
Brittain33
brittain33
Moderators
Atlas Star
*****
Posts: 21,933


Show only this user's posts in this thread
« Reply #20 on: October 05, 2012, 08:07:22 AM »


202,000 jobs were created in September 2011. Things are getting worse, not better.

Why are you posting this comment here when you just made a thread with the exact same comment?
Logged
Phony Moderate
Obamaisdabest
Atlas Icon
*****
Posts: 12,298
United States


Show only this user's posts in this thread
« Reply #21 on: October 05, 2012, 08:08:51 AM »


202,000 jobs were created in September 2011. Things are getting worse, not better.

Why are you posting this comment here when you just made a thread with the exact same comment?

For the purposes of trolling.
Logged
wan
Jr. Member
***
Posts: 455
United States


Show only this user's posts in this thread
« Reply #22 on: October 05, 2012, 08:16:26 AM »


202,000 jobs were created in September 2011. Things are getting worse, not better.

Why are you posting this comment here when you just made a thread with the exact same comment?

For the purposes of trolling.

congrats mr president.
Logged
Averroës Nix
Sr. Member
****
Posts: 2,289
United States


Show only this user's posts in this thread
« Reply #23 on: October 05, 2012, 08:19:24 AM »

These numbers are far better than what I had expected. But by far the best part of this jobs report is that it's the last one that will be treated as a major event in horse-race coverage.
Logged
Yank2133
Junior Chimp
*****
Posts: 5,387


Show only this user's posts in this thread
« Reply #24 on: October 05, 2012, 08:25:17 AM »

At least this puts the end to the 43 straights months of 8% unemployment line.
Logged
Pages: [1] 2 3 4 5  
« previous next »
Jump to:  


Login with username, password and session length

Terms of Service - DMCA Agent and Policy - Privacy Policy and Cookies

Powered by SMF 1.1.21 | SMF © 2015, Simple Machines

Page created in 0.058 seconds with 13 queries.