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View Full Version : Unemployment Rises to 8.3%



Trinnity
08-03-2012, 09:26 AM
Economy Creates 163,000 New Jobs but Rate Rises to 8.3%
(http://www.cnbc.com/id/48480887)The U.S. economy closed out an otherwise weak second quarter by creating more jobs than expected, with 163,000 new positions added, but the unemployment rate rose to 8.3 percent.









As the country struggles to gain growth traction, the unemployment rate (http://www.cnbc.com/id/44491326/) held above 8 percent for the 41st consecutive month, according to the latest report from the Bureau of Labor Statistics (http://www.bls.gov/news.release/empsit.nr0.htm).

"While the monthly gain is still relatively small by historical standards, it might help spark somewhat higher consumer optimism and spending," Kathy Bostjancic, director of macroeconomic analysis at The Conference Board, said in response to the report.

Despite the seemingly good news, the report's household showed that the actual amount of Americans working dropped by 195,000, with the net job gain resulting primarily from seasonal adjustments in the establishment survey. The birth-death model, which approximates net job growth from newly added or closed businesses, added 52,000 to the total.

It this point, the economy would have to be adding an absolute minimum of 250,000 each and every month to make a dent in the right direction. I think the American people are going to help Mr. Obama keep his promise of fix it the first term or OUT.

All the govt needed to do was stay out of the way, but instead he increased bureaucracy and regulations. ADA was his crowning glory? Ultimately it was a crown of thorns and his undoing.

Priorities, sir.

He knew what the deal was, "it's the economy, stupid".

Trinnity
08-03-2012, 09:55 AM
How will the admin spin this? Here's my guess:
"the economy continues to recover"

http://www.redstatereport.com/wp-content/uploads/2012/05/BarackObama-Crybaby.gif
tip-o-the-hat to smarty for the gif

MMC
08-03-2012, 10:27 AM
Despite the seemingly good news, the report's household showed that the actual amount of Americans working dropped by 195,000, with the net job gain resulting primarily from seasonal adjustments in the establishment survey. The birth-death model, which approximates net job growth from newly added or closed businesses, added 52,000 to the total.....snip~

Which at least 2/3rds of birth-death model will fail in their beginnings of buisness. Now tha seasonal jobs ended. It' even more bleak than reported. Not to mention Congress has now just left Washington for 5 Weeks. Which means they won't be doing a damn thing to get this country going in the Right direction. :angry:

Then they all smile and tell us how they are on our side. Repeatedly lying to our faces. When Will Americans SAY ENOUGH IS ENOUGH!!!!!:angry:

Trinnity
08-03-2012, 10:47 AM
Enough IS enough. This country is making a sea change and most don't see it. Libertarian conservatism is a solid trend and it's the way to go "forward".

Trinnity
08-03-2012, 01:31 PM
The White House is really getting specific when it comes to the unemployment rate.Rather than 8.3% -- the rounded-up figure -- Obama economic adviser Alan B. Krueger writes on the White House website (http://www.whitehouse.gov/blog/2012/08/03/employment-situation-july) that the real jobless rate is 8.254%.
http://content.usatoday.com/communities/theoval/post/2012/08/wh-adviser-jobless-rate-is-really-8254/1#.UBwKxqDU5Tf



Oh. Well. That changes everything.

:smiley_ROFLMAO:


:happy1:

Captain Obvious
08-03-2012, 09:02 PM
There is continued, sustained economic growth. It's not huge, but it's growth.

Conservative bucket carriers will throw stones at anything that resembles progress because that's all their walnut sized brains can manage.

What did BO do to generate this slow but steady growth? Nothing. And I mean nothing, it's an election year. He's not fucking anything up with his poison policies, the economy is slowly healing itself.

In my opinion, the only thing that is keeping the economic rebound in the slow lane is the rate of spending that continues. That is what is on everyone's mind and that is the difference between cautious optimism and economic confidence.

All while yonder Eurozone looms...

Goldie Locks
08-03-2012, 09:23 PM
163,000 jobs and 150,000 leave the job market....oh yeah that is great news....that's a net of 13K jobs....Ubama is dismal.

Captain Obvious
08-03-2012, 09:35 PM
The stock market today disagrees with you.

Goldie Locks
08-03-2012, 09:36 PM
The stock market today disagrees with you.

Of course they do...LOL

roadmaster
08-03-2012, 09:40 PM
The stock market today disagrees with you.

Hook, line and sinker.

Peter1469
08-04-2012, 07:16 AM
The stock market acts irrationally at times. They have greatly benefited from the various rounds of QE and they desperately want more. But the Fed isn't about to start another round of QE and when they release statements they say "not yet, but we are ready to do so at any time...", translation, "hell no." When Wall Street breaks the code you will see a large market correction.

MMC
08-04-2012, 07:22 AM
WASHINGTON (Reuters) - The White House said on Friday that data showing U.S. hiring increased in July showed the economy was continuing to recover, and stressed the jobless rate was "essentially unchanged" despite its rise from 8.2 percent to 8.3 percent.

"Today's employment report provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression," Alan Krueger, chairman of the White House Council of Economic Advisers, said in a statement.....snip~

http://news.yahoo.com/white-house-says-jobs-data-005656371.html
Reuters – 10 hrs ago<<<<<

:rollseyes:

Trinnity
08-04-2012, 08:07 AM
Damage control. The admin is still a massive FAIL.