Unemployment dipped to 7.8 percent [Archive] - Glock Talk

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tongix
10-05-2012, 07:36
Looks like more hiring for the coming holidays....

mymini40
10-05-2012, 07:37
Hope so.

Flying-Dutchman
10-05-2012, 07:40
All is well. Praise Obama.

As proof of this fortunate news Bernanke will immediately stop QE3.:upeyes:

tongix
10-05-2012, 07:41
When is early voting starts?

GigiB
10-05-2012, 07:46
To be revised upward after the election...

Sharkey
10-05-2012, 07:48
Hmmm, it comes out on the heels of the debate...............
Mighty convenient.

I'm gonna go out on a limb and still say we are dealing with double digit unemployment when you factor everyone without a job.

TBO
10-05-2012, 07:52
The true unemployment rate is over 11% (counting those who have "left the job market" ).

Sent from the toe of my jack boot using Tapatalk 2

Flying-Dutchman
10-05-2012, 07:52
When is early voting starts?
Early voting=more chance for fraud.

As long as we have early voting why not vote 1 year or 2 years ahead of time?

In fact why not vote every day electronically over the internet? After all no need for 1 day to vote anymore, right? We should be able to eject the incumbent any time we want.

Flying-Dutchman
10-05-2012, 07:54
To be revised upward after the election...
As always...

tongix
10-05-2012, 07:55
More are hired to manned the voting centers...

Flying-Dutchman
10-05-2012, 07:59
More are hired to manned the voting centers...
…now hiring…ballot box stuffers

ChuteTheMall
10-05-2012, 08:21
You are no longer counted after your two years of unemployment benefits run out.:upeyes:

amazon
10-05-2012, 08:26
the numbers don't add up.

JFrame
10-05-2012, 08:29
http://www.businessinsider.com/jack-welch-obama-jobs-report-numbers-romney-2012-10


.

IndyGunFreak
10-05-2012, 08:35
The true unemployment rate is over 11% (counting those who have "left the job market" ).

Sent from the toe of my jack boot using Tapatalk 2

Yup.... I've heard some suggest its as high as 15% (I have no data to back this up, but I feel very very confident it is over 8)

volsbear
10-05-2012, 08:38
Yup.... I've heard some suggest its as high as 15% (I have no data to back this up, but I feel very very confident it is over 8)

Definitely. The government number doesn't count people who are on unemployment for more than 2 years, people who have given up, or people who are forced to work part time but need full time.


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tongix
10-05-2012, 08:45
Could the US Navy be recruiting more as we refocus our sight s in the Pacific Rim ?

WarCry
10-05-2012, 09:27
Everyone that wants to point out the "real" numbers seem to just be looking for the excuse to say the sky is falling, but the SAME formula has always been used. Back in the "good old days" when it was around 4.5-5%, that wasn't a "real" number either.

As for the "conspiracies" about the timing on the announcement (elections....debates...whatever), these numbers come out at the same time every month. Don't be absurd.

I'm not saying these numbers are good or anything like that. What I'm saying is this stuff needs to be looked at objectively. BOTH sides of the political battles forget that, and BOTH side make themselves look idiotic.

series1811
10-05-2012, 09:36
The problem is that we have all been burned so many times by misleading statistics, and the media and government have lost so much credibility, that no one really believes any of it anymore.

Woofie
10-05-2012, 09:46
The true unemployment rate is over 11% (counting those who have "left the job market" ).

Sent from the toe of my jack boot using Tapatalk 2

Does it include people working part time who can't find full time work?

If you've ever had to live on a part time budget, it doesn't feel like having a job.

SPIN2010
10-05-2012, 09:46
The true unemployment rate is over 11% (counting those who have "left the job market" ).

Sent from the toe of my jack boot using Tapatalk 2

Fact right there! I am one who has left the job market and started my own knife sharpening business just to stay alive.

CAcop
10-05-2012, 09:51
Does it include people working part time who can't find full time work?

If you've ever had to live on a part time budget, it doesn't feel like having a job.

There is U-3 and U-6. U-6 counts people working part time who would like to work full time. U-3 is the number the press uses. As a general rule of thumb U-6 is about double what U-3 is.

As it currently stands no president has won reelection with more than 7 or 7.2% U-3. And that was with Ronnie when the economy was starting to really take off. Our GNP growth has been lackluster.

Detectorist
10-05-2012, 09:52
Everyone that wants to point out the "real" numbers seem to just be looking for the excuse to say the sky is falling, but the SAME formula has always been used. Back in the "good old days" when it was around 4.5-5%, that wasn't a "real" number either.

As for the "conspiracies" about the timing on the announcement (elections....debates...whatever), these numbers come out at the same time every month. Don't be absurd.

I'm not saying these numbers are good or anything like that. What I'm saying is this stuff needs to be looked at objectively. BOTH sides of the political battles forget that, and BOTH side make themselves look idiotic.

Some of us actually look at the numbers and what's behind them. These happen to be 'revised' numbers. lol

From CNN: Annalyn Censky (https://twitter.com/AnnCensky) @CNNMoney (https://twitter.com/intent/user?screen_name=cnnmoney) October 5, 2012

"In the most recent household survey, the biggest hiring gains came in the form of 582,000 new part-time jobs in September. Part of that number can be explained by young workers, ages 16 to 24. The data show this age group saw a huge pickup in jobs in September, due almost entirely to seasonal adjustments by the Labor Department."

From CNN Money:

"The so-called "underemployment rate," which includes people who are working part time for economic reasons, and those who have recently dropped out of the labor force, was 14.7% in September. http://i.cdn.turner.com/money/images/bug.gif (http://money.cnn.com/2012/10/05/news/economy/september-jobs-report/index.html?hpt=hp_t1&iid=EL#TOP)"

Yep, the fast food industry is alive and well.

Mushinto
10-05-2012, 09:53
Suspicion-Falls-on-Labor-Secretary-Solis-as-Jobs-Numbers-Questioned (http://www.breitbart.com/Big-Government/2012/10/05/Suspicion-Falls-on-Labor-Secretary-Solis-as-Jobs-Numbers-Questioned)

wjv
10-05-2012, 10:16
The U6# still is at 15%

http://www.shadowstats.com/

Also:
The BLS reported that while only 114,000 jobs were created in September--which would have translated into a rise in unemployment from 8.1% to 8.2%--the unemployment rate fell dramatically to 7.8%

In addition, the BLS reported a large rise in the number of part-time jobs, adding 600,000 jobs to the total--a dramatic increase of 7.5%, not explained by any other economic indicators--and raising questions about whether the government had changed the way it counted part-time workers.

Solis was adamant today in defending both the revisions and the BLS's methodology for counting part-time workers

Just an FYI:
EVERY SINGLE economist say that we need to add 150,000 just to keep the current unemployment rate steady; so HOW does 114,000 make the unemployment rate drop from 8.1 to 7.8?

GWSHARK
10-05-2012, 10:54
bad news = gospel
good news = must be tainted

:upeyes:

Woofie
10-05-2012, 11:01
There is U-3 and U-6. U-6 counts people working part time who would like to work full time. U-3 is the number the press uses. As a general rule of thumb U-6 is about double what U-3 is.

As it currently stands no president has won reelection with more than 7 or 7.2% U-3. And that was with Ronnie when the economy was starting to really take off. Our GNP growth has been lackluster.

I have learned my new thing for the day.

DanaT
10-05-2012, 11:41
Yep, the fast food industry is alive and well.

Cool. At least when I get home, I can be assured that I can have a Wendy's burger and frosty.

The things that one misses when away....

Detectorist
10-05-2012, 11:55
Cool. At least when I get home, I can be assured that I can have a Wendy's burger and frosty.

The things that one misses when away....

I remember the first McDonalds in southern Germany, New Ulm. They were expensive for that time. They even charged for the ketchup.

But it tasted sooo good, compared to C-rats.

DanaT
10-05-2012, 12:08
I remember the first McDonalds in southern Germany, New Ulm. They were expensive for that time. They even charged for the ketchup.

But it tasted sooo good, compared to C-rats.

They still do charge for ketchup. About 30 euro cent a pack.

But price isn't too bad.

A big Mac meal in Switzerland last week. Around $15.

I like Wendy's burgers more.

But....,, The German McDonalds sever Bigger Macs!!!!! I haven't checked lately if they still serve beer. It was bad beer.

tsmo1066
10-05-2012, 14:23
The figures go deeper than a simple unemployment rate.

For instance, 58% of the jobs lost since the recession began have been replaced by lower paying jobs. Even in areas where Obama has been able to create new employment, it has essentially amounted to replacing high-tech, high pay jobs designing computers and building jumbo aircraft with low-paying positions flipping burgers and greeting Wal-Mart shoppers.

cowboywannabe
10-05-2012, 14:51
whats the number when you factor in those who can no longer get unemployement checks and those who've quit looking for work?

IndianaMatt
10-05-2012, 14:56
http://blogs.seattleweekly.com/dailyweekly/Mitt%20Romney%20Meme%202%20Ready.jpg

427
10-05-2012, 15:01
Since the Stimulus was signed, every jobs report has been "disappointing" and the numbers have been "unexpectedly" high. This is the same Stimulus that was supposed to bring unemployment to under 8%. Now days after a horrific showing at the debates the new report shows a huge gain in jobs? Excuse me for being somewhat cynical.

mhambi
10-05-2012, 15:28
Now wait a minute y'all
This dance ain't for everybody
Only the sexy numbers.
So all you fly mothers get on out there and dance
Dance I said!

tongix
10-05-2012, 15:41
Time for join the US Navy and see the world !

CAcop
10-05-2012, 16:01
whats the number when you factor in those who can no longer get unemployement checks and those who've quit looking for work?

That's the U-6 number noted in a previous post.

stevelyn
10-05-2012, 17:13
Just the labor dept gruppenfuhrer and minions cooking the books to make Dear Leader look good after his debate TKO.

Fed Five Oh
10-05-2012, 17:38
As for the "conspiracies" about the timing on the announcement (elections....debates...whatever), these numbers come out at the same time every month. Don't be absurd.I don't believe anyone is question the day the numbers were released, but they are questioning the numbers that were released, considering 0bama just got spanked in front of 60 million people Wednesday night. But then again, you already knew that, didn't ya?

Dennis in MA
10-05-2012, 18:19
The true unemployment rate is over 11% (counting those who have "left the job market" ).

Sent from the toe of my jack boot using Tapatalk 2

I don't know if its that high, or higher. What I do know is that you can't add that many jobs and drop EU rates that much.

certifiedfunds
10-05-2012, 19:03
The U6# still is at 15%

http://www.shadowstats.com/

Also:
The BLS reported that while only 114,000 jobs were created in September--which would have translated into a rise in unemployment from 8.1% to 8.2%--the unemployment rate fell dramatically to 7.8%

In addition, the BLS reported a large rise in the number of part-time jobs, adding 600,000 jobs to the total--a dramatic increase of 7.5%, not explained by any other economic indicators--and raising questions about whether the government had changed the way it counted part-time workers.

Solis was adamant today in defending both the revisions and the BLS's methodology for counting part-time workers

Just an FYI:
EVERY SINGLE economist say that we need to add 150,000 just to keep the current unemployment rate steady; so HOW does 114,000 make the unemployment rate drop from 8.1 to 7.8?

People giving up looking.

People entering the workforce can't file for UI

Z71bill
10-05-2012, 20:50
I don't know if its that high, or higher. What I do know is that you can't add that many jobs and drop EU rates that much.

Numbers for prior months were revised UP significantly.

In September, the economy created 114,000 jobs, and the Department of Labor revised upward the job-creation numbers for the previous two months. It now says 181,000 jobs were added in July and 142,000 in August, a total of 86,000 more than first reported.

The unemployment rate sort of comes out as if (114,000+86,000) = 200,000 jobs were added last month.

Nice round numbers always make me think WTF?

pspez
10-05-2012, 21:02
What are the odds that today we would get that news? I guess the depression is over. AMAZING!!!And only 23,000,000 more people to go. Phew! :whistling:

Flying-Dutchman
10-05-2012, 21:11
Obama has been bragging all day about his 7.8% unemployment rate “accomplishment”.

What kind of alternative universe is he living in?

He juiced the economy with money printing and a $1Trillion stimulus, same as injecting a sick racehorse with steroids and amphetamines, and the best he can do is a manipulated 7.8%?

As already stated U6 is steady at 14.7%

Flying-Dutchman
10-05-2012, 21:19
Numbers for prior months were revised UP significantly.

In September, the economy created 114,000 jobs, and the Department of Labor revised upward the job-creation numbers for the previous two months. It now says 181,000 jobs were added in July and 142,000 in August, a total of 86,000 more than first reported.

The unemployment rate sort of comes out as if (114,000+86,000) = 200,000 jobs were added last month.

Nice round numbers always make me think WTF?
Bernie Madoff’s numbers were always tidy and we all know how that worked out.