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Unemployment rises to 7.9 percent; 171K jobs added

DJPlayer 622 November 2, 2012 at 08:04 AM
Quote :
Unemployment rises to 7.9 percent; 171K jobs added

WASHINGTON U.S. employers added 171,000 jobs in October and hiring was stronger over the previous two months than first thought. The unemployment rate inched up to 7.9 percent from 7.8 percent in September.

The Labor Department's last look at hiring before Tuesday's election sketched a picture of a job market that is gradually gaining momentum after nearly stalling in the spring.

Since July, the economy has created an average of 173,000 jobs a month, up from 67,000 a month from April through June.

Still, President Barack Obama will face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt. The rate ticked up because more people without jobs started looking for work. The government only counts people as unemployed if they are actively searching.

Investors were pleased by the news. The Dow Jones industrial average futures were flat before it came out at 8:30 a.m. EDT, and within minutes they were up 30 points.
the Dow has been going down since open

11am EST
Dow Jones 13,180.01 -52.61 (-0.40%)

I'm sure they tried hard not to let this unemployment number go up.. but honestly, it was inevitable. Now if it would've went to 8% I'm sure the GOP would be pouncing all over it..

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#46
Quote from Radeck View Post :
U.S. Unadjusted Unemployment Shoots Back Up to 8.3% [gallup.com]

Ofcourse, we all know it was never below 8%...it was Obama's minions fudging the numbers for the election to make their "lord and savior Barack Obama" (according to jamie foxx) look good for the election...now that the election is over, the numbers automagically return to "normal"

U.S. Unadjusted Unemployment Shoots Back Up
Unemployment situation best for college grads, whites, men, and older workers
by Jenny Marlar
WASHINGTON, D.C. -- U.S. unemployment, as measured by Gallup without seasonal adjustment, was 7.8% for the month of November, up significantly from 7.0% for October. Gallup's seasonally adjusted unemployment rate is 8.3%, nearly a one-point increase over October's rate.

You have it wrong, adjusted is 8.3 up from 7.4. Unadjusted is 7.8 up from 7.0.

This is potentially good news depending on the U6. I predict that most of this increase is due to workers returning to the labor market.
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#47
Quote from Xygonn View Post :
You have it wrong, adjusted is 8.3 up from 7.4. Unadjusted is 7.8 up from 7.0.
fixed. thanks
Quote :
This is potentially good news depending on the U6. I predict that most of this increase is due to workers returning to the labor market.
you are more generous than I am ...i say it is intentional fudging of the numbers for the election season.
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#48
Quote from Radeck View Post :
fixed. thanks

you are more generous than I am ...i say it is intentional fudging of the numbers for the election season.
Without any evidence... you are in good company with Jack Welch (& Trump?)....
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#49
Quote from 124nic8 View Post :
Without any evidence... you are in good company with Jack Welch (& Trump?)....
The Treasury tracks wages and salaries on an ongoing basis, don't they? They know how much is coming in from people working. Those are the numbers that matter: this BLS bullshit is a farce. There's your evidence. You'd rather rely on some crappy survey with a 50x SD? It's a joke. They're using a statistical mirage in their favor.
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#50
Quote from barnz008 View Post :
The Treasury tracks wages and salaries on an ongoing basis, don't they? They know how much is coming in from people working. Those are the numbers that matter: this BLS bullshit is a farce. There's your evidence. You'd rather rely on some crappy survey with a 50x SD? It's a joke. They're using a statistical mirage in their favor.
The new BLS numbers come out tomorrow.

You have no evidence.

This OP is citing gallup poll numbers.
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#51
This recovery (cough, cough) is atypically taking too long to recover growth. Of course, people who shackle businesses with uncertainty, higher taxes, higher regulations, etc will then blame this on the failure of capitalism. If you want a real, robust economy, the opposite must be done. The politicians need to provide clarity, remove unnecessary regulations and overhead, reduce corporate taxes and restore capitalism.
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#52
Quote from 124nic8 View Post :
You have no evidence.
The funny part is, neither do you. Keep believing in the boogie man, it's fun story.

What's your #? I want to call you to see if you're "working." worshipLMAO
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#53
Quote from barnz008 View Post :
The Treasury tracks wages and salaries on an ongoing basis, don't they?
You lose.

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#54
Quote from homers View Post :
This recovery (cough, cough) is atypically taking too long to recover growth. Of course, people who shackle businesses with uncertainty, higher taxes, higher regulations, etc will then blame this on the failure of capitalism. If you want a real, robust economy, the opposite must be done. The politicians need to provide clarity, remove unnecessary regulations and overhead, reduce corporate taxes and restore capitalism.
Well, you've got the Republican talking points down, now all you need is some real evidence to back them up.

Unfortunately, the Clinton years kinda disprove your fantasy.

And so do all the economists who say that financial crisis take longer from which to recover.

But you've got real evidence which shows they're wrong, right?
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#55
Quote from barnz008 View Post :
The funny part is, neither do you.
Don't need any cause I made no assertions.


Quote :
Keep believing in the boogie man, it's fun story.
And which "boogie man" do you imagine I believe?

Quote :
What's your #? I want to call you to see if you're "working." worshipLMAO
Cause whether I'm "working" has some meaning about what I write here? Pray tell, what?
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L8: Grand Teacher
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#56
Well, gosh darn it. Sorry, cons!

Quote :
The November jobs report, released Friday morning, was a pleasant surprise to analysts who had braced for some ugly numbers for a period when much of the Northeast was reeling from the superstorm. In fact, the national unemployment rate fell to 7.7 percent from 7.9 percent, and the nation added 146,000 jobs, not the mere 85,000 that forecasters had expected.
http://www.washingtonpost.com/bus...story.html
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#57
Quote from gunnerusa View Post :
Well, gosh darn it. Sorry, cons!



http://www.washingtonpost.com/bus...story.html
The unemployment rate went down because 350,000 people have been removed from the rolls.
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#58
U6 is down 2 tenths. I was surprised to see people leaving the labor force. No one bats 1.000.

http://www.bls.gov/news.release/empsit.nr0.htm

Quote :
The civilian labor force participation rate declined by 0.2 percentage point to 63.6 percent
in November, offsetting an increase of the same amount in October.
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#59
Quote from homers View Post :
The unemployment rate went down because 350,000 people have been removed from the rolls.
Quote from Xygonn View Post :
U6 is down 2 tenths. I was surprised to see people leaving the labor force. No one bats 1.000.

http://www.bls.gov/news.release/empsit.nr0.htm
The glass is always half empty when a Democrat is POTUS. Roll Eyes (Sarcastic)
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#60
Quote from 124nic8 View Post :
The glass is always half empty when a Democrat is POTUS. Roll Eyes (Sarcastic)
No, I was just pointed out that the reason the unemployment rate declined had more to do with people dropping off than with people finding jobs. I had started a different thread a few months back about how the official unemployment rate produced is (I believe intentionally) misleading.
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