| Unemployment 9.1% - July 2011 - 9.1% Auguts | |
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| Tweet Topic Started: Jul 8 2011, 07:39 AM (4,347 Views) | |
| chatham | Aug 4 2011, 08:24 PM Post #76 |
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Yea/ Europe ready to collapse and people selling stocks and gold. They are scared and getting into cash and treasuries. As bad as our economy is, treasuries are still the safest investment rich people can make to save their money...... right now/ |
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| Baldo | Aug 5 2011, 09:38 AM Post #77 |
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U.S. Payrolls Rose in July; Jobless Rate at 9.1% Employers added more jobs than forecast in July, the jobless rate fell and wages climbed, easing concern the U.S. economy is grinding to a halt. Payrolls rose by 117,000 workers after a 46,000 increase in June that was more than originally estimated, Labor Department data showed today in Washington. The median estimate in a Bloomberg News survey called for a July gain of 85,000. The jobless rate dropped to 9.1 percent as more Americans left the labor force, while average hourly earnings climbed 0.4 percent. Job gains may need to accelerate further to bolster consumer spending, which rose last quarter at the slowest pace in two years. Weaker growth puts more pressure on Federal Reserve policy makers meeting next week to try to steer the world’s largest economy away from another recession at a time when inflation is also accelerating. “This report suggests an economy that is still growing, so we’re not in a recession, but one that is definitely sub-par,” Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida, said today in an interview on Bloomberg Television. “The bottom line is that we’re not really seeing any signs that we’re in a recession just yet.” ...snipped ...The share of the eligible population holding a job declined to 58.1 percent, the lowest since July 1983....snipped http://www.bloomberg.com/news/2011-08-05/u-s-payrolls-rose-more-than-estimated-117-000-in-july-jobless-rate-9-1-.html Thank goodness it wasn't worse for the sake of the markets. However the trend still continues that the percentage of Americans working decreased. PS the skeptic in me wonder if in about a month they will re-adjust the unemployment rate higher and are still playing Hinky Dinky Accounting Why? Food stamp use rises to record 45.8 million NEW YORK (CNNMoney) -- Nearly 15% of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture. The number of Americans using the government's Supplemental Nutrition Assistance Program (SNAP) -- more commonly referred to as food stamps -- shot to an all-time high of 45.8 million in May, the USDA reported. That's up 12% from a year ago, and 34% higher than two years ago....snipped http://money.cnn.com/2011/08/04/pf/food_stamps_record_high/index.htm?iid=HP_River |
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| Baldo | Aug 5 2011, 09:58 AM Post #78 |
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So why did the unemployment rate drop to 9.1%? IMHO In part because less people are consider as a total of the USA population. ![]() |
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| Baldo | Aug 5 2011, 11:24 AM Post #79 |
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Hinky Dinky Accounting Enron's accountants would be proud of! Beneath Jobs Report Surface Lies Some Ugly Truths AP Before getting too excited about the modest uptick in net job creation and a slight downward move in the unemployment rate, it’s probably worth a look under the hood. As is usually the case, there is far more than meets the eye to the Labor Department’s report that the economy added 117,000 jobs last month and the unemployment rate fell to 9.1 percent. Let’s start with the reality that fewer people actually were working in July than in June. According to a Bureau of Labor Statistics breakdown, there were 139,296,000 people working in July, compared to 139,334,000 the month before, or a drop of 38,000. But the job creation number was positive and the unemployment rate went down, right? So how does that work? It’s a product of something the government calls “discouraged workers,” or those who were unemployed but not out looking for work during the reporting period. This is where the numbers showed a really big spike—up from 982,000 to 1.119 million, a difference of 137,000 or a 14 percent increase. These folks are generally not included in the government’s various job measures. So the drop in the unemployment rate is fairly illusory—stick all those people back in the workforce and you wipe out the job creation and the drop in unemployment. For once, some of the government’s other tools of economic voodoo didn’t help the count. The vaunted birth-death model, a byzantine approximation of business creation and failure, actually subtracted 18,000 from the total job creation after a five-month run where it added a total of 741,000 positions to the count. And the so-called “real” unemployment rate, which adds in discouraged workers and others not counted as part of the headline unemployment rate, actually pulled back one notch to 16.1 percent....snipped http://www.cnbc.com/id/44033486 So in actually there are less people working. The real unemployment is higher Edited by Baldo, Aug 5 2011, 11:25 AM.
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| kbp | Aug 5 2011, 05:17 PM Post #80 |
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"promotes jobs" Reads more like the only jobs to be promoted are for those we pay to operate the "training programs." Efforts to increase the skilled workforce doesn't create jobs. |
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| Baldo | Aug 5 2011, 05:55 PM Post #81 |
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Because he doesn't know how to create jobs. There are millions of people who are trained right now who can't find jobs. There are 5 people applying for every one job! Why? Let's have more training, more education, more govt programs, but what about businesses having the need for employees. Obama doesn't have a clue. Since he took office we have had a 22% increase in people receiving food stamps. That's his success. |
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| retiredLEO | Aug 5 2011, 06:23 PM Post #82 |
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That is what Obama want's the more people dependent on the government, the more votes for the man who is giving out these benefits. More food stamps equals more votes. |
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| retiredLEO | Aug 5 2011, 06:35 PM Post #83 |
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Debt Debate Over; Time for Congress to Lower Immigration and Create Jobs for Unemployed Americans While the nation has been transfixed by the recent debt ceiling debate, 22 million Americans have continued their search for a full-time job. Now that a compromise on the debt ceiling has been reached, Members of both parties are promising to get back to work creating jobs. Yet their promises are hard to believe considering both parties have refused to act on one of the most pressing job-related issues -- lowering annual immigration levels. https://www.numbersusa.com/content/nusablog/cchmielenski/august-3-2011/debt-debate-over-time-congress-lower-immigration-and-create-jobs? |
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| Baldo | Aug 12 2011, 05:46 PM Post #84 |
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Average Teen Unemployment Rate in D.C. is 50.1%, Analysis Shows (CNSNews.com) – An analysis based on U.S. Census Bureau data by the Employment Policies Institute (EPI) shows that the average unemployment rate for teens ages 16 to 19 in the District of Columbia was 50.1 percent as of June 2011. This corresponds with data from the Bureau of Labor Statistics (BLS) showing that for D.C. the annual average unemployment rate for teens in 2010 was 49.8 percent. Michael Saltsman, research fellow at EPI, provided the 50.1 percent figure to CNSNews.com as an update of an analysis he compiled based on the Census Bureau’s Current Population Survey. The 50.1 percent figure is almost double the average teen unemployment rate in June 2007 in the District, when it was 26.2 percent, according to Saltsman....snipped http://cnsnews.com/news/article/average-teen-unemployment-rate-dc-501-an-0 |
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| Baldo | Aug 12 2011, 05:48 PM Post #85 |
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Note I edited the title Thread to show current U-3 unemployment rate |
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| LTC8K6 | Aug 18 2011, 07:50 AM Post #86 |
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Assistant to The Devil Himself
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(Reuters) - New U.S. claims for unemployment benefits rose more than expected last week, according to a government report on Thursday that suggested hiring in August was steady but not robust. Initial claims for state unemployment benefits increased 9,000 to a seasonally adjusted 408,000, the Labor Department said. Economists polled by Reuters had forecast claims rising to 400,000. The prior week’s figure was revised up to 399,000 from the previously reported 395,000. |
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| LTC8K6 | Aug 18 2011, 08:44 AM Post #87 |
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Assistant to The Devil Himself
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http://www.cnbc.com/id/44187274 |
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| Baldo | Aug 18 2011, 08:47 AM Post #88 |
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As I have been reading lately there are a few economists who believe our definition of a recession is wrong as linked mainly to GNP. It is better describe in unemployment figures and it isn't a lagging statistic but the major statistic in determining what is a recession. In other words, we have never come out of a recession. Until we get unemployment down we won't be out of a recession. Makes sense to me. Really it doesn't make a damn bit of difference, when you are out of work the economy sucks. I was driving by the Port of Oakland the other day and the number of ships in Port was about five. There was a time it would be over twenty and ships would be waiting in the bay. Import cargo volume at the nation’s major retail container ports will remain below last year’s levels for the remainder of the summer before seeing year-over-year gains again this fall as retailers begin to stock up for the holiday season. WASHINGTON, August 9, 2011 – Import cargo volume at the nation’s major retail container ports will remain below last year’s levels for the remainder of the summer before seeing year-over-year gains again this fall as retailers begin to stock up for the holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates. “Cargo numbers have been down this summer but that’s a reflection of last year’s unusual shipping patterns more than the economy,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “The economy continues to face challenges, but job growth has been steady and retailers have been adding jobs themselves as sales improve. Cargo figures for this fall clearly show that retailers are expecting a healthy holiday season.” U.S. ports followed by Global Port Tracker handled 1.25 million Twenty-foot Equivalent Units in June, the latest month for which numbers are available. That was down 2.6 percent from May and 5 percent from June 2010. One TEU is one 20-foot cargo container or its equivalent....snipped http://www.internetretailer.com/2011/08/09/retail-container-traffic-will-grow-during-holidays But volume is up in Martha's Vineyard as the Obama Stimulus comes to this much deprived enclave of unemployed Americans. |
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| kbp | Aug 18 2011, 10:37 AM Post #89 |
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Now why is it I doubt even that "399,000"? It just looks too convenient for it to have barely missed the 400 mark! On that GNP issue, the dollar devaluation can increase the GNP without any actual increase in the products sold. I'm not sure how they factor in Ben's printing press there. |
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| Baldo | Aug 18 2011, 11:58 AM Post #90 |
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Being very sceptical on the announcement of Obama's planned Sept 5 Big Jobs speech three weeks into the future. I predict August is going to really stink numbers wise and the Obama Administration knows it. Never waste a crisis comes to mind. Let's roll out the Obama WPA, more shovel ready jobs, "Invest" in America, inter-city weatherization jobs, etc etc etc. Oh did I mention economic indicators suck? BTW how do you spell "F-A-I-L-E-D P-R-E-S-I-D-E-N-C-Y" |
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