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

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... Read More

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  3. Visit  mediajunkie650 profile page
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    The revised job numbers vary; they aren't 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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  6. Visit  Esme12 profile page
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    It dropped because the long term unemployed ran out of benefits and can no longer apply
    Tina, RN, NF_eyenurse, and kcmylorn like this.
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    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?
  8. Visit  tntrn profile page
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    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?
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    Quote from tntrn
    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?
    Agree, as we've already said (now becoming ad nauseum), one has to look deeper and beyond the unemployment rate and it's not all "rosy".

    That's a nice spin but considering when the took office the rate was still rising from the crash to the tune of 500,000 to 700,000 a month and rising. It took a while into his administration to peak. If the economy was booming when he took office, you'd have a valid point.

    I'm not saying Obama has been a resounding success, I'm just trying to be fair about it before branding him a total complete failure. To be fair, one would have to look at what the rate peaked at that was caused by the crash that started in the previous administration and judge him from that.

    In my opinion.
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    In essence, though, nothing has changed during his administration. There is no improvement.
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    Quote from tntrn
    In essence, though, nothing has changed during his administration. There is no improvement.
    Well if you call going from a free fall crash in the economy with massive layoffs that was the worst since the Great Depression, to where we are today "in essence" no improvement that's your prerogative. Let me repeat again, just to clarify, while I think the economy has escaped that mess, it's not good now and there might be more mess down the road, and again, compared to 2008, I'll take today's numbers...100 something plus verses 700,000 down is an improvement, but you can call it no improvement if that's how you see it. But from someone that advocates going beyond the rates, that attitude is confusing.

    Poverty levels are still high, the middle class is still eroding, unemployment is high, and there hasn't been improvement in a lot of areas. This I'll give you.
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    Quote from Tweety
    Well if you call going from a free fall crash in the economy with massive layoffs that was the worst since the Great Depression, to where we are today "in essence" no improvement that's your prerogative. Let me repeat again, just to clarify, while I think the economy has escaped that mess, it's not good now and there might be more mess down the road, and again, compared to 2008, I'll take today's numbers...100 something plus verses 700,000 down is an improvement, but you can call it no improvement if that's how you see it. But from someone that advocates going beyond the rates, that attitude is confusing.

    Poverty levels are still high, the middle class is still eroding, unemployment is high, and there hasn't been improvement in a lot of areas. This I'll give you.


    And I will give you this: it was a disaster when he came into office. And it got worse even after all the stimulus plans, and now it has returned to essentially the same as it was when he took office. So if you call that an improvement, so be it.

    But it is still the same as when he got into office, so at best it is a stagnant thing.
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  13. Visit  herring_RN profile page
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    The Labor Force Participation Rate Is Up!
    The unemployment rate tumbled to 7.8 percent this month from 8.1 percent last month, according to new data out of the Bureau of Labor Statistics Nonfarm Payrolls report.

    The labor force participation rate, which has been in steady decline since 2008 as discouraged, unemployed workers have given up their search for work and left the labor force, actually ticked up slightly this month 63.6 percent from last month's reading of 63.5 percent.

    Furthermore, the employment to population ratio rose 0.4 percent to 58.7 in September...

    http://www.businessinsider.com/labor-force-participation-rate-2012-10
  14. Visit  herring_RN profile page
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    Overall, this was a solid report. Nonfarm payrolls came in right in line with estimates at 114K, but the unemployment rate tumbled to 7.8 percent from 8.1 percent last month.
    What's really good is that last month's number was revised upward to 142K from 96K.
    July was also revised up by 41K. ...

    Read more: September Non-Farm Payrolls Report - Business Insider


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