US jobless rate falls to 7.8 pct., 44-month low - page 2

by Joe V Admin

5,813 Views | 157 Comments

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
    Quote from tntrn
    The jobs report is always followed by a corrected jobs report.....that will be more telling and it is never as rosy looking.
    Can you clarify?

    Are you saying the current jobs report is "rosy" because no one else did, and most of the links and news I'm hearing is very cautious, and no one is using the word "rosy".

    What is this "corrected jobs report" and when does it come out? There's been several times when the jobs report has revived the previous reports upward as well as downward. For example the report today also some figures for July and August were higher than expected.

    I agree though with the sentiment that you have to look beyond the numbers, that many of these people were only hired part time, those that have given up aren't counted, etc. But the trend still isn't downward, but it's by no means rosy.

    I don't really like to go back to Bain capital because largely that's a lame defense, but I'm beginning to see the hypocrisy of Romney criticizes that during the Obama administration today that 600,00 manufacturing jobs were lost (not sure if that fact checks) during the Obama administration, when he spent considerable amount of time defending his time at Bain and sending jobs abroad.
    aknottedyarn, tewdles, and herring_RN like this.
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    [QUOTE=Tweety;6971209]Can you clarify?

    Are you saying the current jobs report is "rosy" because no one else did, and most of the links and news I'm hearing is very cautious, and no one is using the word "rosy".

    QUOTE]


    I am not saying the report is rosy at all. What I am saying is that after a jobs report is announced, about a week later, comes a corrected jobs report (and I am sorry I don't know the precise name for it) that usually has worse numbers than what was previously announced.

    That is what I mean by "less rosy."

    The corrected numbers never are better numbers....they are always worse. So this 7.8, if the trend goes as it usually does, will be corrected to 8.0 or more.

    I will listen better next time I hear about this....in about a week....
    Tweety likes this.
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    Thanks for clarifying. While I knew they frequently revise their reports, I didn't know one came out a week later. Seems like that like you Romney should be mentioning this.
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    mediajunkie650 likes this.
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    The revised job numbers vary; they arenít always worse. The article below states that the job gains were revised upward by 40,000 for July and 46,000 for August.
    While employers added only a modest 114,000 jobs last month, the jobless rate declined from 8.1 percent in August. The unemployment rate fell because more people were working, not because discouraged job seekers stopped looking, the numbers showed.

    Adding to the positive news, job gains were revised upward by 40,000 for July (to 181,000) and by 46,000 for August (to 142,000), casting a slightly rosier light on what had been perceived as a summer slump.

    The Bureau of Labor Statistics, which is part of the Labor Department but has no political appointees at the moment, computes the numbers from two surveys, one of businesses and one of households. By definition, the data in both surveys are not precise and are subject to regular revisions. Recently, those revisions have showed a strengthening labor market, suggesting that if anything the economy may be improving more than initially reported.
    Jobless Rate Falls to 7.8%, Lowest Since January 2009 | NY Times
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  8. 3
    It dropped because the long term unemployed ran out of benefits and can no longer apply
    Tina, RN, NF_eyenurse, and kcmylorn like this.
  9. 0
    Quote from Esme12
    It dropped because the long term unemployed ran out of benefits and can no longer apply
    If this explains the drop in the unemployment rate it this also means that more people weren't added to the unemployment line otherwise the overall rate wouldn't have dropped.

    Or am I confused?
  10. 2
    Michael Medved was just talking about the Broader Unemployment Rate. It includes those who are working part time and would like to be working full time, those who have ready to give up looking at all, but who still are looking once in a while. This rate is over 14%, same as it was when Obama took office. So his stimuli plans have done nothing whatsoever to improve that.

    Same with the announced unemployment rate, which Obama had deemed a disaster when he took office.....if at 7.8, it is the same as when he took office, isn't it still a disaster?
    NF_eyenurse and Esme12 like this.


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