Economy adds 157k jobs in January, revisions way up

[Cigar]

http://m.static.newsvine.com/servista/imagesizer?file=steve-benen27B3359A-7C94-CBC8-48B7-4ACD683E4F3D.jpg
Expectations for job creation were pretty close to perfect according to the new report from the Bureau of Labor Statistics, with the economy adding 157,000 jobs in January. The big news, however, is in the revisions...The unemployment rate was effectively unchanged at 7.9%, and as is often the case, austerity measures undermined the employment landscape -- while America's private sector added 166,000 jobs in December, the public sector lost 9,000 jobs. Indeed, over the last three months, the nation's private sector added 624,000 jobs, while 24,000 government jobs were lost.

It'd be easy for Washington to improve the latter number and lower the unemployment rate, but congressional Republicans won't allow it.

Regardless, today is the day the BLS publishes its revisions for all of 2012, and that's where we see the genuinely good news. Not only were the job totals for November and December revised up considerably -- 127,000 jobs combined -- but for the entire 2012 calendar year, we learned this morning of an additional 335,000 jobs that had not been previously reported.

That means 2.17 million jobs were created just last year, which is the best annual total since 2005, and tops seven of the eight years Bush/Cheney was in office.


http://maddowblog.msnbc.com/_news/2013/02/01/16806287-economy-adds-157k-jobs-in-january-revisions-way-up


Are there any bets Republicans will finally put the good of the country before their partisan agenda and hate for President Obama?

Don't hold your breath ...

[Mainecoons]

And considerably more gave up looking.

You've got your "equal opportunity" ride from the government and the government controlled businesses like Boeing and EDS (yep they play the equal opportunity contracting game too as it is required by their masters) so we understand that it is OK with you that over 8 million people have given up trying to find a work since Hussein took office.

You live in such a dream world I think you actually believe that the path to prosperity is paved with borrowed money and special deals for folks because of their skin color.

[Cigar]

And considerably more gave up looking.

You've got your "equal opportunity" ride from the government and the government controlled businesses like Boeing and EDS (yep they play the equal opportunity contracting game too as it is required by their masters) so we understand that it is OK with you that over 8 million people have given up trying to find a work since Hussein took office.

You live in such a dream world I think you actually believe that the path to prosperity is paved with borrowed money and special deals for folks because of their skin color.

Would you like the President of The United Big Government States to pass an Executive Order to come back to the Government Jobs Republicans Killed?

[Mainecoons]

That's 8 million since Obama, idiot.

Like I said, you've got your free ride so all the poverty your boy is creating while he takes care of the one percent is obviously OK with you.

You are a POS.

[Chris]

Didn't you already start a topic on January jobs?

Ah, yes, here: http://thepoliticalforums.com/threads/10569-U-S-Economy-Added-192-000-Private-Sector-Jobs-in-January

Why not post the new numbers there?

Wait, here you're saying "Economy adds 157k jobs in January, revisions way up" when there you claimed "U.S. Economy Added 192,000 Private-Sector Jobs in January". Seems to me the revision is not way up but down, 157k is less than 192k.

Now I understand starting a completely new thread.

[Mainecoons]

the bureau of labor statistics released jobs numbers for january friday showing that nonfarm payroll employment increased by 157,000 and the unemployment rate rose to 7.9 percent.lost in these headline numbers was another rise in the number of people not in the labor force.
this number now stands at a staggering 89 million, up from 80.5 million when president obama took office.


read more: http://newsbusters.org/blogs/noel-sheppard/2013/02/01/85-million-americans-left-labor-force-obamas-first-term#ixzz2jerhijrf

[Chris]

http://m.static.newsvine.com/servista/imagesizer?file=steve-benen27B3359A-7C94-CBC8-48B7-4ACD683E4F3D.jpg

According to that job growth is in decline again.

[Mainecoons]

More people gave up than found jobs. Period.

This is just the beginning as all the post Christmas layoffs really kick in.

[Cigar]

http://m.static.newsvine.com/servista/imagesizer?file=steve-benen27B3359A-7C94-CBC8-48B7-4ACD683E4F3D.jpg

According to that job growth is in decline again.

Compared to last month ... :rofl: you guys are funny ... grasping and anything you can.

That's ok ... you have 4 years :grin:

[Cigar]

More people gave up than found jobs. Period.

This is just the beginning as all the post Christmas layoffs really kick in.

... and your solution is what?

Call them deadbeats takers ...?

Can the Government force the Job Creators to create Jobs Mr. Free Enterprise?

Can't have it both ways sport ... pick a side.

[zelmo1234]

Would you like the President of The United Big Government States to pass an Executive Order to come back to the Government Jobs Republicans Killed?

NO! i would like him to get serious about cutting spending, lower taxes on business so they can beging to grow and increase the revenue coming in and get rid of the 1300+ new regulations.

If he would do that , then the private sector would take care of the jobs. A government job is a 100% expense on the economy, not a creator of wealth or Revenue!

[Cigar]

NO! i would like him to get serious about cutting spending, lower taxes on business so they can beging to grow and increase the revenue coming in and get rid of the 1300+ new regulations.

If he would do that , then the private sector would take care of the jobs. A government job is a 100% expense on the economy, not a creator of wealth or Revenue!


You do know the facts show spending has been lower, not higher each hear Obama was in office ... ?

You do know the War of Choice cost 3 Trillion ... ?

...and Bull Shit about The Private Sector ... I am The Private Sector and over the last 4 years my customers haven't given a flying fuck about Government Spending. How do I know that ... each and everyone of them are having historic record corporate earnings and are taking full advantage of record low interest rates to GROW.

Stop beleiveing the Bull Shit about the Private Sector ... open your eyes and LOOK at the Private Sectors RECORD EARNINGS REPORT!

It's our idiots in Washington who are missing out on a time when Labor will never be any cheaper and borrowing any lower ...

All this because a Black Man is in Office ... how childish.

[zelmo1234]

You do know the facts show spending has been lower, not higher each hear Obama was in office ... ?

You do know the War of Choice cost 3 Trillion ... ?

...and Bull Shit about The Private Sector ... I am The Private Sector and over the last 4 years my customers haven't given a flying fuck about Government Spending. How do I know that ... each and everyone of them are having historic record corporate earnings and are taking full advantage of record low interest rates to GROW.

Stop beleiveing the Bull Shit about the Private Sector ... open your eyes and LOOK at the Private Sectors RECORD EARNINGS REPORT!

It's our idiots in Washington who are missing out on a time when Labor will never be any cheaper and borrowing any lower ...

All this because a Black Man is in Office ... how childish.

first, the Wars of choice are not even to half of what you are trying to tell us?

http://costofwar.com/

And Yes with buying forclosuers and referbing them and turning them into leases, I have great profits too, I just can't spend them to grow like others because there is no stability in site?

http://online.wsj.com/article/SB10001424052748704312104575298652567988246.html

They are not investing. Now there are those that are borrowing money, I happen to be a debt free company!

Not really sure what you business is, but in the realestate business, and construction things have not been great, and this is a great place for the middle class to have high paying jobs?

And if you look at the economy, it is not doing very well, what we really need is a period of 4 to 5% growth to get us back on track.

And while you call it makers and takers, I think that a lot of the takers as you call them would much rather be makers! and we need this as well

[Cigar]

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One definition of insanity is doing the same thing over and over again and expecting a different result. Britain elected a conservative government that immediately adopted an austerity policy. They are now entering their 3rd recession since the economic crisis, a triple dip.

Spain attempted austerity and as reported in the Bloomeberg’s piece “Adios Austerity, But Debt Will Still Limit Spain’s Growth Measures”. It has been such a dismal failure that they are now realizing the wisdom of economists like Nobel Prize winning Paul Krugman.

Bloomberg:

Spain’s 32-month experiment with austerity-at-all-costs, as devised by Angela Merkel’s budget ultras, is drawing to a close.

Prime Minister Mariano Rajoy oversaw 62 billion euros of tax hikes and spending cuts, 851,000 job losses and three different deficit targets, all in his first year in office. Now European Union budget enforcer Olli Rehn is ready to ease up on the beleaguered premier.

Thirty-eight hours later the National Statistics Institute duly confirmed that Spain was indeed suffering a serious deterioration in the economy. The pace of economic contraction more than doubled in the fourth quarter, when the tax hikes Rajoy had delayed to try and win power in the south region of Andalucia finally kicked in. Unemployment hit a record 26 percent.

The shift reflects a changing consensus among policy makers, which has seen the IMF join economists including Nobel laureate Paul Krugman in arguing that too much austerity is self-defeating. It damages economic activity, reduces tax revenues and tips economies into the vicious cycle of deeper spending cuts and falling output that the Greeks have been suffering since 2010.

Every country that has attempted this path has suffered the same outcome. Yet the GOP continues to hold the American economy and with that the middle class hostage to austerity type policies by refusing to enact the president’s stimulative policies that would not only increase employment but lay the ground work for increased tax receipts and economic activity. With interests rates at record lows (near zero), this is the most appropriate time to rebuild our failing infrastructure that will be much more expensive to rebuild in later years even as it negatively affects our economics.

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The unemployment report released today should give every American pause. It shows a trend that has been evident throughout this recovery. Private jobs in retail, construction and healthcare are up. Public sector jobs, government jobs, in both the state and federal government are down. What is ironic is as the country’s population grows and needs more services as a society from government, they are being laid off. Many will complain about slow government service as an indication that government services are inherently poor without realizing that that is the exact outcome Republicans are hoping for in order to move the privatization ideology forward, profit for a few from taxes paid by the many.

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Private sector jobs are growing as both state and federal government are laying workers off. This means just maintaining government levels of employment would have provided a much better employment picture, likely at least 2% lower since the maintenance of those jobs would have ensured increased spending by these employees who would have kept your local sandwich shop, your local theater, your grocery store employing more folk. Additionally the tax base would be less deteriorated.

It is the failure of government policy that has exacerbated this downturn. Republicans not allowing the institution of job creating policies is not simply a display of intransigence. It is a penalization of the American middle class to force an ideology they do not want. It is a systematic destruction of government and faith in government to enhance a private sector so out of balance with government, “we the people”, that it would ultimately overwhelm democracy.

Republicans often use Greece as a scare tactic to make Americans believe the current deficit is a bigger problem than it is. The social austerity even as they continue to build an outdated 20th century military would in fact put American in a worst position than Greece. Greece is selling off public assets, the assets of “we the people” to a wealthy few. This was attempted in Panama and as they should, the population revolted (http://egbertowillies.com/2012/10/25/protests-in-coln-panam-americas-future-if-plutocracy-induced-income-wealth-disparity-not-reversed/)to stop the continued middle class pilfer. One can only hope the American middle class will open their eyes before it is too late. Too late is a path to depression where the wealthy buys up the public assets on the cheap.

The January jobs report while positive yet average has many red flags that do not get coverage. It shows little to know wage growth when adjusted for inflation and a deteriorating public sector. This poor recovery is political. Until the American middle class engages and demands the terms, the status quo will prevail. Whenever the status quo prevails, the middle class loses.

website at http://egbertowillies.com/

[Chris]

Compared to last month ... :rofl: you guys are funny ... grasping and anything you can.

That's ok ... you have 4 years :grin:

Compared to last month job growth is down.

Even your latest shows that...

http://i2.wp.com/farm9.staticflickr.com/8507/8436114148_d7869378b6_o.png

[Cigar]

:roflmao: You guys are well programed ...

Everything sucks and you'll never be convinced otherwise ... until that Black man is out of office.

[Chris]

:roflmao: You guys are well programed ...

Everything sucks and you'll never be convinced otherwise ... until that Black man is out of office.

I suppose you could say we are programmed to look at facts and use logic.

Everything doesn't suck, somethings are good, some bad, in general the economy is recovering, slowly, very slowly, but improving.

What black man is in office? Jacob Zuma?