US jobless rate falls to 7.8 pct., 44-month low - page 13

by Joe V 6,112 Views | 157 Comments Admin

The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The Labor Department says employers added 114,000 jobs in September. The economy also created 86,000... Read More


  1. 3
    I wish that Romney supporters would question his honesty as much as they question the veracity of the BLS.
  2. 2
    Quote from Jolie
    Statistics and surveys indicate that the current unemployment rate is roughly equal to that when Obama took office, at approximately 7.8%

    How is that possible, given that we have had job losses in excess of job creation every month since he took office?

    And more importantly, why does no one question this?
    December 2010: nonfarm payroll employment increased by 103,000 -- Employment Situation News Release
    January 2011 non farm payroll employment increased by 36,000
    February 2011 Nonfarm payroll employment increased by 192,000 - Employment Situation News Release
    March 2011 Nonfarm payroll employment increased by 216,000 - Employment Situation News Release
    April 2011 Nonfarm payroll employment increased by 244,000 - Employment Situation News Release
    May 2011 Nonfarm payroll employment increased by 54,000 - Employment Situation News Release
    June 2011 Nonfarm payroll employment increased by 18,000
    July 2011 Nonfarm payroll employment increased by 117,000
    August 2011 Nonfarm payroll employment did not increase
    September 2011 Nonfarm payroll employment increased by 103,000
    October 2011 Nonfarm payroll employment increased by 80,000
    September 2012: total nonfarm payroll employment rose by 114,000 - Employment Situation News Release

    Look up more if you are interested-- Employment Situation Archived News Releases
    mediajunkie650 and tewdles like this.
  3. 1
    herring, compare that information to the following:

    December 2010 new unemployment claims:
    The number of initial claims dropped to 420,000 in the week ending Dec. 18, down from 423,000 claims the previous week, the Labor Department said Thursday. Economists surveyed by Briefing.com were expecting a tick up to 424,000 new claims.
    The 4-week moving average of initial claims -- a number that tries to smooth out week-to-week volatility -- was 426,000, an increase of 2,500 from the previous week's average of 423,500.

    Initial unemployment claims tick down - Dec. 23, 2010

    January 2011

    The number of Americans filing for their first week of unemployment benefits rose 18,000 to 409,000 last week.

    February 2011

    There were 410,000 initial jobless claims filed in the week ended Feb. 12, according to the Labor Department. That was up 25,000 from the week before, and slightly more than the 408,000 claims economists surveyed by Briefing.com had expected.

    You get the idea. All information from CNN Money. Consistent reports throughout the entire year of roughly 400,000 new unemployment claims per reporting period.
    Spidey's mom likes this.
  4. 2
    Please interpret it for me.

    It seems to me it may mean that while about the same number began collecting unemployment other people were being hired.
    The total number of employeed increased.
    For example in December 2010 Employment rose in leisure and hospitality and in health care but was little changed in other major industries.

    As baby boomers retire many of their employers will hire someone else.
    Most people my age are retired. busy with hobbies, family, and volunteering but not working.
    A nurse I know retired in 2009. She returned to work after a couple months because her 30 something kids were laid off. They, their spouses, and kids moved back in with her and her retired husband.
    Now she is enjoying retirement since her kids and their spouses are working again.

    It is complicated. Can you explain how they compute the seasonally adjusted rates?
    The advance number of actual initial claims under state programs, unadjusted, totaled 298,743 in the week ending September 29, a decrease of 4,942 from the previous week. There were 332,394 initial claims in the comparable week in 2011.

    The advance unadjusted insured unemployment rate was 2.2 percent during the week ending September 22, unchanged from the prior week's unrevised rate. The advance unadjusted number for persons claiming UI benefits in state programs totaled 2,815,352, a decrease of 26,169 from the preceding week. A year earlier, the rate was 2.5 percent and the volume was 3,165,909.

    The total number of people claiming benefits in all programs for the week ending September 15 was 5,088,612, a decrease of 85,386 from the previous week. There were 6,859,096 persons claiming benefits in all programs in the comparable week in 2011.
    Extended Benefits were only available in New York during the week ending September 15.

    Initial claims for UI benefits by former Federal civilian employees totaled 1,315 in the week ending September 22, an increase of 45 from the prior week. There were 2,510 initial claims by newly discharged veterans, a decrease of 400 from the preceding week.
    There were 16,579 former Federal civilian employees claiming UI benefits for the week ending September 15, a decrease of 453 from the previous week. Newly discharged veterans claiming benefits totaled 38,529, an increase of 411 from the prior week.
    States reported 2,143,049 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending September 15, a decrease of 17,399 from the prior week. There were 3,027,447 persons claiming EUC in the comparable week in 2011. EUC weekly claims include first, second, third, and fourth tier activity.
    ETA Press Release: Unemployment Insurance Weekly Claims Report



    leslie :-D and tewdles like this.
  5. 4
    Quote from Jolie
    Statistics and surveys indicate that the current unemployment rate is roughly equal to that when Obama took office, at approximately 7.8%

    How is that possible, given that we have had job losses in excess of job creation every month since he took office?

    And more importantly, why does no one question this?
    Job losses have not exceeded job creation every month since he took office, we're in our 31st straight month of positive job growth.

    mediajunkie650, leslie :-D, tewdles, and 1 other like this.
  6. 1
    We're admittedly comparing apples to oranges by looking at the numbers of newly unemployed workers, versus the numbers of newly created jobs.

    Let's eliminate the discrepancies by looking at the labor force participation rate, which has steadily declined under Obama:

    US Labor Force Participation Rate

    Question: What is the Labor Force Participation Rate?
    Answer: The labor force participation rate is the percentage of working-age persons in an economy who:
    • Are employed
    • Are unemployed but looking for a job
    Typically "working-age persons" is defined as people between the ages of 16-64. People in those age groups who are not counted as participating in the labor force are typically students, homemakers, and persons under the age of 64 who are retired. In the United States the labor force participation rate is usually around 67-68%.

    (The current labor force participation rate after 4 years of the Obama administration is 63.6%, a record low.)

    What is the Labor Force Participation Rate?
    Spidey's mom likes this.
  7. 1
    When looking at Jobs losses vs. Jobs creation, an apples to apples way of quantifying that would be "Jobs gains vs jobs losses", I don't see how that's apples to oranges.

    Using labor force participation rate however is apples to oranges. The labor force participation rate has steadily declined under Obama, just like it did during Bush's entire presidency. Job loss vs job creation and unemployment rate do play a bit part in labor force participation rate, but it's largely buried by the larger trends it measures. If you look at male labor force participation rate, it's actually been declining steadily since at least the Truman administration, not just Obama's term. The overall (combined male/female) participation rate did reverse it's downward trend and moved upward in the 80's and 90's and women joined the workforce in increasing numbers, but that leveled off at about 60% around 2000, leaving us with ever present downward trend.

    The overall downward trend over the past 70 years is primarily due factors that don't really reflect the strength of the economy. The participation rate looks at whether or not people are employed or looking for work starting at 16. The days where the majority of workers started their jobs at 18 are gone. The number of workers having to pursue some form of post-High school training has increased. Another factor is retirement. Retirement didn't used to be given for most workers as it is now, in the 40's those who survived to adulthood had a life expetency of 58, so the ability to have a retirement was less likely, the decreased participation of the elderly isn't necessarily a bad thing.

    Also the current participation rate is no where near a record low as you can see below:
    tewdles likes this.
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    xxxxxxxx
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    Wal-Mart Plans to Hire Any Veteran Who Wants a Job

    http://www.nytimes.com/2013/01/15/us...rans.html?_r=0
  10. 1
    My first thought was "Oh, goody. Now WalMart has found another way to get strokes while keeping their employees in the 47% who need further government assistance to make it." I would be much more impressed if they paid workers a living wage and used more full time and less part time/casual employees.

    Their stores are still filled with Chinese and other Third world manufactured poorly made goods.

    I will continue to boycott them until they push for more US manufacturing jobs and start selling "American made" with pride. They need to push wages up rather than grandstand.
    tewdles likes this.


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