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  1. #1
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    Employment growth quickens, jobless rate at 7.7 percent

    They said Obama couldn't do it.Now I wonder how the JUB GOPPERS will spin this?

    http://www.reuters.com/article/2012/...8B605F20121207

    Employment growth quickens, jobless rate at 7.7 percent



    By Lucia Mutikani

    WASHINGTON | Fri Dec 7, 2012 8:38am EST

    (Reuters) - The employment grew faster than expected in November, but a drop in the jobless rate to a near-four year low as people gave up the search for work suggested the labor market was still tepid.

    Nonfarm employment increased by 146,000 jobs last month, the Labor Department said on Friday, defying expectations of a sharp pull back related to superstorm Sandy.
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    I think your elected representatives are still doing a pretty lousy job.

  3. #3
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by Harke the Boeotarch View Post
    I think your elected representatives are still doing a pretty lousy job.
    Oh, yeah, I agree. They all need to be replaced, especially my 2 Sen and House rep.
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    What if both parties had worked together for the last four years? What do you think the unemployment rate would be today had that happened?

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    Re: Employment growth quickens, jobless rate at 7.7 percent

    ^ Quoted for truth.

    This is a disaster for the Republicans and FOX though.

    The big question....

    How long until they trash it and blame Obama?

    3....2...1....

  6. #6
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Another 540,000 people simply gave up and the labor force participation rate fell another 0.2%. There's nothing to brag about in this abysmal report. But, if it's all you've got, rock on!

    http://data.bls.gov/timeseries/LNS11300000

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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Obama hasn't got the higher tax rates he's seeking yet...when tax rates go up,yet unemployment goes down, then you on the left can squawk til your heart's content about how Obama has it right. No one serious however believes we've turned the tide on unemployment....take that as you will. People have given up as jackaroe notes which helps with making the rate look better than it really is...and a lot of jobs gained aren't of the kind that will help the revenue base much.
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    The Reuters link doesn’t seem to go to a specific article.

    Here is a link to the current BLS News Release:


  9. #9

    Re: Employment growth quickens, jobless rate at 7.7 percent

    Could do better, and deficit cuts won't help.

    On the whole, the data in the November report show pretty much the same picture as what we have been seeing over the last six months. The economy is creating jobs at a rate that is a bit faster than what is needed to keep pace with the growth of the labor market. At the current pace, we would not see the economy returning to full employment for another decade. Furthermore, there are more downside risks than upside -- for example, if there were to be severe deficit reduction as a result of the current negotiations between President Obama and Congress.
    http://www.cepr.net/index.php/data-b...b-growth-slows

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    Re: Employment growth quickens, jobless rate at 7.7 percent

    On the bright side..in Canada, 59,000 jobs were added in November.

  11. #11
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Higher tax rates will in NO way affect job growth. I expect the GOPpers to be back in threads this time next year insisting they be forgiven for being so completely wrong headed.

    It is sad that so many are leaving the workforce. and 7.7% from 7.9% is nothing to cheer about. Perhaps after we get congress working in a direction again... against republicans desires to hold the country back ... then perhaps we will actually see some growth unlike the decimation of wealth and employment that was ushered in by republicans and their faulty thinking.
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  12. #12
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    It's nice to see things are starting to get better! Another 4 years of Obama is starting off great!
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Pretty much everytime over the last four years employment went up, Republicans claimed it was going down so I'm not expecting any reaction reflecting the real universe we all reside in.

  14. #14
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by jackoroe View Post
    Another 540,000 people simply gave up and the labor force participation rate fell another 0.2%. There's nothing to brag about in this abysmal report. But, if it's all you've got, rock on!

    http://data.bls.gov/timeseries/LNS11300000
    That's what I came into say but Jackaroe beat me to it.

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    Re: Employment growth quickens, jobless rate at 7.7 percent

    These numbers have a huge asterisk attached to them that says 'almost entirely due to holiday hiring that is temporary'. Retailers hire a large number of temp workers for holiday, positions that are ended at the beginning of January.

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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by JayHawk View Post
    Higher tax rates will in NO way affect job growth. I expect the GOPpers to be back in threads this time next year insisting they be forgiven for being so completely wrong headed.

    It is sad that so many are leaving the workforce. and 7.7% from 7.9% is nothing to cheer about. Perhaps after we get congress working in a direction again... against republicans desires to hold the country back ... then perhaps we will actually see some growth unlike the decimation of wealth and employment that was ushered in by republicans and their faulty thinking.
    Actually the rates Obama wants are expected to affect job growth by 2% -- which means that a 5% growth in jobs would only be 4.9%. , so instead of 5,000 jobs being generated, 4,900 would be.

    OTOH, if some of the new revenue goes to infrastructure while the rest goes to cut the deficit, it should come out about even.

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

  17. #17
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by JB3 View Post
    These numbers have a huge asterisk attached to them that says 'almost entirely due to holiday hiring that is temporary'. Retailers hire a large number of temp workers for holiday, positions that are ended at the beginning of January.
    This is true, so it's hard to tell how much of this is recovery and how much is seasonal.

    Keep your fingers crossed.


    Though if the Republicans would grow up and pass the small-business legislation Obama wanted, January would see real change, probably down to 7.%5% -- with more steady change over a year.
    Last edited by Kulindahr; December 7th, 2012 at 09:10 PM.

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

  18. #18
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by opinterph View Post
    The Reuters link doesn’t seem to go to a specific article.

    Here is a link to the current BLS News Release:

    I was watching Morning Joe and they showed it breaking. I tried to find a "reliable" source and Reuters came up. Cnn didn't have anything and MSNBC was Morning Joe. What can I say. I'm starting to like Morning Joe.
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  19. #19
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    It's actually a mixed bag of good news and bad reads. Read the followup article on it:

    http://www.washingtonpost.com/blogs/...ns-of-caveats/

    Previous month increases have now been downgraded. The economy is still in a stagnant growth phase where we won't return to pre-recession levels until 2 1/2 years from now. The economy needs a stimulus and for Congress to act.
    #439th oldest member on JUB.

  20. #20
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    So am I correct that two studies have now been cited, one saying recovery will take 10 years and one saying 2 1/2 to get back to pre-recession levels?

    That's a pretty big swing.

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    Re: Employment growth quickens, jobless rate at 7.7 percent

    The reason why the Clinton era tax rates worked was because of the organic market driven stimulus of the dot com boom. That was then...this is a post bust economy...busted tech, busted real estate, busted finance, etc. Corporate interests have squeezed as much blood from the turnip from 'productivity' increases. Now the only hope is more government stim, with borrowed money we cant afford, or keep our fingers crossed that there is a next Big Thing on the horizon that will emerge from the private sector. So the options boil down to hock or hope. No bueno.

    The only possible Big Thing (baring some positive Black Swan event) is a boom in shale extraction and natural gas production and exports. The downside of course is its essentially taking a huge dump on the environment. So pick your poison. I sure wouldnt want B.O.'s job right now.

  22. #22
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    I think it is sex robots for around the home.

    The next big thing, I mean.

  23. #23
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Doesn.t that make the REAL and TRUE unemployment rate 11.7? If I remember college Econ the unemployment rate published and used subsumes an unspoken 4% base unemployment as a constant.

    Any Econ people to answer this?

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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by Just_Believe18 View Post
    It's actually a mixed bag of good news and bad reads. Read the followup article on it:

    http://www.washingtonpost.com/blogs/...ns-of-caveats/

    Previous month increases have now been downgraded. The economy is still in a stagnant growth phase where we won't return to pre-recession levels until 2 1/2 years from now. The economy needs a stimulus and for Congress to act.
    Make it a real stimulus this time, please. The part that went to infrastructure last time was a big help, but refurbishing government offices didn't. It may be something that will pay off in the long term, but it doesn't boost the economy.

    Let's fix roads, rail, and other transportation needs for now, so people and products can get around.

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by xbuzzerx View Post
    So am I correct that two studies have now been cited, one saying recovery will take 10 years and one saying 2 1/2 to get back to pre-recession levels?

    That's a pretty big swing.
    I think it comes from the fact that we're in unknown territory, having spent billions bailing out the wrong part of the economy, which gave a false impression of vitality where there is little.

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

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    Re: Employment growth quickens, jobless rate at 7.7 percent

    ^ The 2009 Stimulus did work though. Remember, our economy was in free fall. We would be in a depression right now if not for the first term of the Obama presidency.

    The problem is that a large percentage of the stimulus was Republican negotiated tax cuts, and that yes, more infrastructure could be invested into. An additional stimulus is needed that focuses on the areas you've mentioned above.
    #439th oldest member on JUB.

  27. #27

    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by palbert View Post
    Doesn.t that make the REAL and TRUE unemployment rate 11.7? If I remember college Econ the unemployment rate published and used subsumes an unspoken 4% base unemployment as a constant.

    Any Econ people to answer this?
    Broadly speaking, unemployment data is calculated using parameters known as U1 - U6.
    U3 is the official rate, and U6 is the broad rate

    See here:

    http://www.economonitor.com/dolaneco...e-steady-rise/

    And here:

    http://www.bls.gov/webapps/legacy/cpsatab15.htm

  28. #28
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by EastMed View Post
    Broadly speaking, unemployment data is calculated using parameters known as U1 - U6.
    U3 is the official rate, and U6 is the broad rate

    See here:

    http://www.economonitor.com/dolaneco...e-steady-rise/

    And here:

    http://www.bls.gov/webapps/legacy/cpsatab15.htm
    Interesting -- the U6 figure is just a touch below what the county commissioners here say is our real unemployment rate.

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

  29. #29
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    So there's enough lee-way for everyone to be right....

  30. #30
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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by palbert View Post
    So there's enough lee-way for everyone to be right....
    Mmm.... sorta kinda maybe not.

    I'm under the impression that the Republicans believe Obama's doing a god-awful job and that someone (anyone) who would have continued the Bush economic policy would have us in a far better spot today. I see no reality-based reason to believe the Bush economic policy continued even further under Romney's plan would have done anything other than carry us further in the direction it had been taking us.

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    Re: Employment growth quickens, jobless rate at 7.7 percent

    Quote Originally Posted by xbuzzerx View Post
    Mmm.... sorta kinda maybe not.

    I'm under the impression that the Republicans believe Obama's doing a god-awful job and that someone (anyone) who would have continued the Bush economic policy would have us in a far better spot today. I see no reality-based reason to believe the Bush economic policy continued even further under Romney's plan would have done anything other than carry us further in the direction it had been taking us.
    Definitely. I like to point out that the economy was better under Reagan than it is now, so we ought to go back to the Reagan tax rates, right?

    But that's as simplistic as the moronic blather from the right. Grasping this actually takes research, which is probably the biggest thing JUB has done for/to me: I've spent gobs of hours trying to figure the while economic/tax thing out, starting with the Laffer curve... and learning that there are numerous variables to look at before deciding what effect tax raises or cuts should be made. It turns out that under certain conditions, tax cuts are bad for the economy, while under others they're good, and that the same is true of tax hikes. Right now what's needed is a touch of both, which would be best accomplished by letting all the Bush cuts expire and raising the individual exemption by $2k. On top of that, Friedman demonstrated that under the right conditions having a reverse income tax so that those on the bottom would get a guaranteed level of income would be best.

    Of importance at the moment is that lowering tax rates for the wealthy under 1/3 rarely does anything for the economy. Claiming that tax cuts always benefit the economy is false because it's linear thinking, and what matters is the slope of the curve... and the curve is shaped by many factors.

    Also of importance is that it's been pretty thoroughly established that stimulus spending has to be the sort that will make doing business easier -- Japan and China have been the two main laboratories on that one. Repairing substandard infrastructure qualifies, but may qualify less than improving infrastructure in good condition -- for example, repairing interstate bridges where traffic flows smoothly despite the fact that the bridges are due to fall down in two years will have less of a stimulus impact than adding two lanes to a two-lane highway clogged by traffic all day (though the bridge repair would have longer-term impact because if it does fall down, commerce will take a greater hit than if the road keeps just two lanes).

    "Thirty-one* states allow all qualified citizens to carry concealed weapons. In those states, homosexuals should embark on organized efforts to become comfortable with guns, learn to use them safely and carry them. They should set up Pink Pistols task forces, sponsor shooting courses and help homosexuals get licensed to carry. And they should do it in a way that gets as much publicity as possible. "

    --Jonathan Rauch, Salon Magazine, March 13, 2000

    *the number is now forty

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