Dismal Jobs Report 148,000 added 180,000 Expected

Discussion in 'Too Hot for Swamp Gas' started by diehardgator1, Oct 22, 2013.

  1. diehardgator1

    diehardgator1 Well-Known Member

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    While on paper the rate drops to 7.2% the figures are misleading. The average work week is now down to 34.5 hours. Part time America is here.


    "After a delay of more than two weeks caused by the budget impasse in Congress, the Labor Department said Tuesday the U.S. economy added just 148,000 jobs in September, an amount unlikely to persuade the Federal Reserve to begin scaling back its easy-money policies any time soon.

    "The bottom line for today’s report is 'more of the same,'" Dan Greenhaus, chief global strategist at BTIG, a market maker, wrote in an email to clients. "Wage growth is weak, job creation is relatively weak and, perhaps most worrisome, appears to be slowing."

    Average hourly earnings rose 3 cents to $24.09, and are up just 2.1% so far for the year, highlighting the relatively stagnant earnings growth among American workers. The average workweek, meanwhile, held steady at 34.5 hours.


    http://www.foxbusiness.com/economy-policy/2013/10/21/us-economy-added-148000-jobs-in-september/
  2. diehardgator1

    diehardgator1 Well-Known Member

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    One very important point is that the drop in unemployment rate is due to people leaving the work force because they cannot find a job

    "The unemployment rate has come down from 10% in October 2009 at the height of the financial crisis, but the jobs data released since then have been mixed. In recent months, whenever the unemployment rate has ticked lower, a primary reason for the reduction has been that thousands of Americans leaving the workforce out of frustration they can’t find a job.
  3. Gatorrick22

    Gatorrick22 Well-Known Member

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    I don't believe those numbers at all. I think it's all a lie/fabrication to fool the sheeple into thinking everything is okay in our economy.
  4. wgbgator

    wgbgator Sub-optimal Poster Premium Member

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    As with most jobs reports, there is good and bad. This seems pretty positive to me:

    http://www.businessinsider.com/september-part-time-jobs-2013-10

  5. diehardgator1

    diehardgator1 Well-Known Member

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  6. mdgator05

    mdgator05 Premium Member

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    I'm pretty sure BLS has used 35 hours as full time for years.
  7. rivergator

    rivergator Well-Known Member

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    It has. It didn't start with Obama, despite what some conservatives want to claim.
  8. diehardgator1

    diehardgator1 Well-Known Member

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    The "standard" work week consists of five eight-hour days, commonly served between 9:00AM to 5:00PM totaling 40 hours. While a four-day week generally consists of four ten-hour days; it may also consist of as little as nine hours for a total of a 36 hour work week. Twelve-hour shifts are often three days per week, unless the company has the intention of paying out the employee overtime. Overtime is legally paid out anytime an employee works more than 40 hours per week. The legal minimum for overtime starts at Base Pay + One-Half. The increased payout is considered to compensate slightly for the increased fatigue which a person experiences on such long shifts. Shifts can also be very irregular, as in retail, but are still full-time if the required number of hours is reached. There are some situations where a person who needs full-time work is dropped to part-time, which is sometimes a form of constructive dismissal to avoid paying unemployment benefits to a laid-off worker.

    http://en.wikipedia.org/wiki/Full-time
  9. gatordowneast

    gatordowneast Well-Known Member

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    Everything is rosy. The mooch and looter class now has the rest of us paying for their health insurance or Medicaid. The young and health are being screwed to pay for the chronically ill. Many have lost their existing health plan and are being forced to buy a plan that includes goodies they do not need or want. And some are being forced into HMOs with docs that barely speak English.

    Wonderful. Just wonderful.
  10. rivergator

    rivergator Well-Known Member

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    What's your point? Are you really claiming that Obama changed the definition of full time to make the job figures look better?
  11. dangolegators

    dangolegators Well-Known Member

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    From Die's point of view, 148k new jobs is not too bad, but he would have been much happier if it had been say, 48k new jobs. And he'd have been ecstatic if it had been a negative number.
  12. LittleBlueLW

    LittleBlueLW Premium Member

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    I dont understand why a jobs report is an indictment on anyone, except for the fact that the guy currently in charge ran on a 'jobs' platform. Lip service at best. The American political system at its finest.

    "Good jobs. A better bargain for the middle class and folks working to join it. An economy that grows from the middle-out. This is where I will focus my energies... But I won’t be able to do it alone, so I'm going to be calling on all of us to take up this cause." –President Obama
  13. 108

    108 Premium Member

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    I don't think Pubs have a right to b!tch about the economy anymore

    Not only have they not helped, but they have hurt it in their quest to hurt the Potus politically
  14. diehardgator1

    diehardgator1 Well-Known Member

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    and if you can explain that reasoning please have at it. 148,000 jobs when they were expecting 180,000 sounds off quite a bit to me

    And I dont really thank your liberal mind has a clue what does and what does not make me happy.
  15. diehardgator1

    diehardgator1 Well-Known Member

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    The Rep dont have to hurt obama he is doing to good of a job of screwing up himself
  16. asuragator

    asuragator Well-Known Member

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    You make a good point, but you do realize that every modern president has run on a jobs platform--heck probably every national politician and governor and on down. Yet, (and I am not directing this toward your comments) as is the partisan nature of our politics it becomes easy to simply point out what the other side said.

    The open secret (or willfully ignored reality) is that most legislation designed to "create jobs" only has a marginal effect at best or does nothing at worst. On top of that, distinguishing between what might be a small positive effect on job creation and economic and political forces outside the control of the political levers, or from cyclical booms and busts, is not easy.

    So at best politicians claims of having "created" jobs is often speculative and wishful thinking based on weak or incidental trends, not on robust evidence that allows for confident conclusions.
  17. ThePlayer

    ThePlayer VIP Member

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    Works for Obamacare.
  18. wgbgator

    wgbgator Sub-optimal Poster Premium Member

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    Part of the Fed's mandate is creating conditions for "full employment." "Jobs" are basically US policy, regardless of party.
  19. HallGator

    HallGator Administrator VIP Member

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    I'm sure a candidate running on a platform of increase the jobless rate would find a warm reception.
    • Like Like x 1
  20. asuragator

    asuragator Well-Known Member

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    bahahaha! :laugh:

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