US jobless rate falls to 7.8 pct., 44-month low - page 3

by Joe V 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
    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.
    Stcroix, tewdles, and herring_RN like this.
  2. 0
    In essence, though, nothing has changed during his administration. There is no improvement.
  3. 1
    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.
    NF_eyenurse likes this.
  4. 1
    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.
    kcmylorn likes this.
  5. 0
    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
  6. 0
    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
  7. 1
    Quote from tntrn
    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.

    We'll agree to disagree, you can look at it since he took office and I'll look at it as to when the crash caused the prior to him taking office peaked after he took office. We'll also disagree that the stimulus made things worse, I think it helped.

    But yeah, things suck right now, we can at least agree on that. It's very important to get that message out, but I think Romney needs to be accurate and fair, because like you've said before anyone can spin numbers around to suit themselves and it's quite convenient to do so when there's good news for Obama and visa versa. His re-election hinges on people agreeing that he made things worse, or his improvements weren't good or fast enough and that his polices hurt.
    Funny how when the rate didn't change or rose, people were fine with this calculation and slammed Obama for it, now that it's a little better they are suspect and not accurate of the true reflection of what's going on..
    Last edit by Tweety on Oct 5, '12
    tewdles likes this.
  8. 0
    Ummm, yeah, and donkeys fly.......



    mc3
  9. 4
    I guess it has become my responsibility to provide this information on a monthly basis:

    New claims for unemployment in the final week of September: In the week ending September 29, the advance figure for seasonally adjusted initial claims was 367,000, an increase of 4,000 from the previous week's revised figure of 363,000. The 4-week moving average was 375,000, unchanged from the previous week's revised average.

    ETA Press Release: Unemployment Insurance Weekly Claims Report

    So it's great that 115K jobs (give or take) were created in the same month. It amounts to roughly 1 job created for every 10 jobs lost. The drop in the official unemployment rate can be attributed to discouraged workers dropping out of the labor force altogether. (115K new jobs in September versus 1.2 million newly unemployed workers.)

    Not good news, nothing to celebrate. But the masses cheer the information fed to them by the mainstream media and fail to question data which doesn't support their claims of an improved economy.
    Tina, RN, Spidey's mom, Esme12, and 1 other like this.
  10. 1
    Quote from Tweety
    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?
    I haven't looked ..........previously it has been stated that "unemployment applications" have dropped and new applicants are xyz. The amount that have dropped of the radar and new applicants may equal to less total. But in an election year I am always skeptical of "new" figures complied by the government when they have an incumbent running.....whomever is in office.

    There are two facilities in MA alone laying off....and that includes nurses.
    Jolie likes this.


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