August Actual Jobs Report-Behind the #s

Discussion in 'Too Hot for Swamp Gas' started by gatordowneast, Sep 6, 2013.

  1. gatordowneast
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    gatordowneast Well-Known Member

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    Both June and July #s were revised down. Unemployment rate falls due to workforce drop outs...312 K drop out. Labor force participation rate down. % of adults in work force down to 58.6%.

    The report was being closely watched for signs that the Federal Reserve will begin pulling back on its controversial bond-buying program later this month. The Fed has said that the timing of the "tapering" would depend heavily on improvement in the labor market.

    Overall, the trend remains the same: Modest hiring has continued at a rate of about 184,000 jobs a month for the last year, but that's not nearly fast enough for the 11.3 million people who remain unemployed.

    The economy needs at least 200,000 new jobs a month just to keep pace with population growth.


    http://money.cnn.com/2013/09/06/news/economy/august-jobs-report/index.html
  2. Gatorrick22
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    Gatorrick22 Well-Known Member

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    We need to include those that fell out of the jobs market in the unemployment numbers. I'm sure it's (real unemployment numbers) in the double digits.
  3. gregthegator
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    gregthegator Well-Known Member

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  4. mocgator
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    mocgator Well-Known Member

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    Jobs growth misses high hopes; unemployment rate drops to 7.3%

    http://www.cnbc.com/id/101014110


    Job growth was less than expected in August as the U.S. economy added 169,000 positions, raising questions over whether the Federal Reserve will begin a pullback on its historically easy monetary policy.

    The Bureau of Labor Statistics also said the unemployment rate dropped to 7.3 percent, its lowest since December 2008, but due primarily to fewer Americans in the labor force.

    A more encompassing rate that counts the underemployed and those who have quit working also fell, dropping to 13.7 percent.

    "Obviously very disappointing—it's hard to see very much positive coming from this report," said Mark Hamrick, Washington bureau chief for Bankrate.com.
  5. mocgator
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    mocgator Well-Known Member

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    The Three Card Monte of our current stock market...

    He's responding to the dismal employment news of only 169K new jobs along with tons of people leaving the work force. This is 100% on obama and his liberal policies. There is no attention to improving employment... why?... because obama doesn't care. Doesn't care at all. That's not why he's President. He has oceans to heal and phones to give out.

    The Fed can't cover for this forever. Plan your exit strategy my friends. Not saying dump your stocks... but be balanced.


    http://www.youtube.com/watch?v=TGWAW_xRdJs
  6. dadx4
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    dadx4 Well-Known Member

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    13.7% WOW!! Makes you wonder how many of those are due to Hussein care.
  7. Gatorrick22
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    Gatorrick22 Well-Known Member

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    Considering that Europe is in shambles right now? We'd be steaming along nicely if it weren't for our commie-in-thief, and his Obama-scam.
  8. gatordowneast
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    gatordowneast Well-Known Member

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    May be, however population growth would also include immigration, so who knows. Earlier, I was always told job growth needed to average approximately 2.75-3.0 M annually to keep up with population growth. That # is now reduced to 2.4 M annually. Not sure if declining birth rate is not the factor there.

    Regardless, my analogy is the economy is like a treadmill turned on but moving at .5 MPH. We are moving forward...but barely. No way we absorb those displaced or in dead end positions with such anemic activity quarter after quarter after quarter. Not that some isolated businesses are not doing well. But overall, it is lame.
  9. jimgata
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    jimgata Premium Member

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    The 169,000 jobs growth reported will probably be revised down, like 70,000 revised down the last two months.
    It is hard to believe any numbers being furnished. Inept as hell or just making up numbers. Last month figures revised down by apprx. a third?
  10. philnotfil
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    philnotfil Well-Known Member

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    That 13.7% is a drop from 14.0 last month, 14.7 last year, and 16.1 the year before.
  11. gatordowneast
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    gatordowneast Well-Known Member

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    And is that also not due to drop outs in the labor force? We have several million fewer workers today than we did in 2007. And of the "new" jobs we have created, a disproportionate are "part time".
  12. gatordowneast
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    gatordowneast Well-Known Member

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    AP wire story on jobs report. Calls it dissapointing. behind the #s:

    Another concern for the Fed is that most of the hiring in August was in lower-paying industries such as retail, restaurants and bars, continuing a trend that began earlier this year. Retailers added 44,000 jobs and hotels, restaurants and bars added 27,000. Temp hiring rose by 13,000.

    In higher-paying fields, the report was mixed.

    Manufacturers added 14,000, the first gain after five months of declines. Government jobs rose 17,000, the biggest gain in almost a year. The increase was all in local education departments. Federal employment was unchanged and state government lost 3,000 jobs.

    Auto manufacturers added 19,000 jobs in August. Americans are buying more cars than at any time since the recession began in December 2007. Some of the jobs were also likely workers who were rehired last month after being temporarily laid off in July, when factories switched to new models.

    But construction jobs were unchanged in August. And the information industry, which includes high-tech workers, broadcasting and film production, cut 18,000 jobs. The biggest losses were in the film industry.

    http://finance.yahoo.com/news/us-employers-add-169k-jobs-rate-falls-7-123226030--finance.html
  13. g8trjax
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    g8trjax Well-Known Member

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    After all these years of robust recovery, how long before our next recession?
  14. gatordowneast
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    gatordowneast Well-Known Member

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    Projection is for Fall 2014, right about the midterms. Of course next summer will be another summer of recovery....the 6th!
  15. MichaelJoeWilliamson
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    MichaelJoeWilliamson Well-Known Member

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  16. gatordowneast
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    gatordowneast Well-Known Member

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    Yep, our lack of growth causes discouragement and stifles upward mobility, therefor the entry level jobs for new grads out of HS or College are not opening as workers stay put out of necessity. We are relearning why Economic growth should be our # 1 priority and why policies that encourage economic growth are critical. Can anyone on the left name one Obama move that has encouraged economic growth? (Fed pumping $85 B monthly into bonds does not count)
  17. JerseyGator01
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    JerseyGator01 Well-Known Member

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    Obama is Wall Street's best friend. Main Street? Please!

    CORRUPTION RULES!!!!!
  18. g8orbill
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    g8orbill Gators VIP Member

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    Very very few restaurant and retail jobs are fulltime
  19. philnotfil
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    philnotfil Well-Known Member

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    How would you propose measuring the "real" unemployment?
  20. DieAGator
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    DieAGator Well-Known Member

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    I know the dollar/euro has weakened recently. A dollar is only worth about .75E.

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