Unemployment falls to 8.3%

[sealybobo]

See, FDR kept unemployment at 20% from 1933 until 1940 because that stimulated the economy.

Are you writing this down?

And the Republican solution was........Prosperity is just around the corner

Obama sure put an end to any real hope of prosperity, by any standard...unless you believe the ......Pinocchio standard of course..

How did he do that? Seems like he saved our most important industry. The US Auto Big 3.

Your side wanted them to go bankrupt. Do you have any idea what that would have done? No because you and Romney wanted them to go bust. How's he gonna win Michigan and Ohio when we have him saying that on tape? He's not.

Letting the Big 3 go bust would have been great for real Republicans. Millionaires. Because it would have achieved their goal of further bankrupted the country through free trade and busted the unions. Sorry, not on Obama's watch.

 

[edthecynic]

It would be very foolish to trust any numbers coming from this Government. They lie. It's as simple as that. Their numbers will decrease as the Election draws nearer. Bet on that.

In all seriousness - a genuine question...

Why do you guys still insist on using this number? (now 8.3%)
Even MSNBC acknowledged last month that the unemployment number is misleading at best, as it does not address the record number of employable people dropping out of the market - as well as removes the context that underemployment is a more serious problem than unemployment.

Please answer this question in a legitimate, specific way.

It doesn't matter which index you use. The fact is that the employment picture is improving. We are creating over 200,000 jobs a month and they aren't government jobs. The total unemployment rate U6 which includes those that have dropped out of the labor market started rising in 2006 long before Obama took office. It peaked in late 2009 at about 17.5% and has fell to below 15%. Both indexes have been in a downtrend since 2009. It's pretty clear where unemployment is headed. If the current trend continues, we should see U3, the traditional reported unemployment rate at about 7.4% by the end of 2012.

Unemployment rate drops to 8.3 percent - CSMonitor.com

Going is right

CBO: (1/31/12)

"Had that portion of the decline in the labor force participation rate since 2007 that is attributable to neither the aging of the baby boomers nor the downturn in the business cycle (on the basis of the experience in previous downturns) not occurred, the unemployment rate in the fourth quarter of 2011 would have been about 1¼ percentage points higher than the actual rate of 8.7 percent"
​

translation: CBO just admitted that the BLS numbers are crap and real unemployment is 10%.

Translation: Even though the CBO is a government agency, if we agree with them they are credible even though the government is not credible like the BLS who we don't agree with.

 

[Neotrotsky]

August 1941 Atlantic Conference - What did Churchill cabled his cabinet about FDR's desires with the war at the time ?

 

[8537]

Well Shit.. Democrats are so desperate for good news (I can understand that) that they prefer to keep their heads in the sand, nothing new there I suppose.

Political Party over reason..eh

We were bleeding 7 million jobs before the 2008 election, when Bush was in office, and your side said things were fine.

“Anyone who says we’re in a recession, or heading into one—especially the worst one since the Great Depression—is making up his own private definition of ‘recession.’"
-Donald Luskin, September 14th, 2008. Lehman collapsed the next day.

 

[sealybobo]

Papa Obama has spent at almost twice the rate of Bush per year

Straight up - that is just the facts


His pork bill was a failure

You are counting things that are Bush's fault. The bank bailout. The stimulus. The wars. Bush neglected infrastructure for 8 years.

Think about that. Bush ignores our infrastucture for 8 years and bankrupts the country, and then Obama takes office and has to fix what Bush broke, but you won't let him spend any money.

But our infrastructure is falling apart. Bush should have spent money rebuilding our infrastructure, but instead he gave it all to Haloburton. So now Obama has to spend money on things Bush should have done.

And then sending all those jobs overseas??? It is obvious to any thinking person the GOP did all this bad shit on purpose.

The bank bailout was the biggest bank robbery in world history. And Bush went on TV and told us to give the bankers the money or else.

You broke ass right wingers who vote with the billionaires should be ashamed of yourselves. You have allowed the rich to take over our country. Why? God gays and guns. Suckers. Brainwasheed.

There is no making sense to any of you. If the GOP could do everything they did to the American middle class over the past 30 years and you are still voting for them, I guess they got you hooked. Why, because of abortion or guns? Dopes!

Was it not Obama's campaign promise to cut the deficit in half by the end of his first term??? He is going in the wrong direction!!

a. Did you vote against Reagan, Bush or Bush 2 for not keeping that same promise?
b. Didn't he just announce getting out of Afganistan soon?
c. And what about all the cuts that the GOP forced him to agree to?

Sorry he's not doing enough for you but probably nothing would be enough if you are a right winger who's only goal is to defeat the socialist muslim.

The only truth you get from Republicans is half truths. And its hard to sort between the lies/half truths and all out pants on fire's you guys are constantly putting out there.

 

[Lumpy 1]

Papa Obama has spent at almost twice the rate of Bush per year

Straight up - that is just the facts


His pork bill was a failure

You are counting things that are Bush's fault. The bank bailout. The stimulus. The wars. Bush neglected infrastructure for 8 years.

Think about that. Bush ignores our infrastucture for 8 years and bankrupts the country, and then Obama takes office and has to fix what Bush broke, but you won't let him spend any money.

But our infrastructure is falling apart. Bush should have spent money rebuilding our infrastructure, but instead he gave it all to Haloburton. So now Obama has to spend money on things Bush should have done.

And then sending all those jobs overseas??? It is obvious to any thinking person the GOP did all this bad shit on purpose.

The bank bailout was the biggest bank robbery in world history. And Bush went on TV and told us to give the bankers the money or else.

You broke ass right wingers who vote with the billionaires should be ashamed of yourselves. You have allowed the rich to take over our country. Why? God gays and guns. Suckers. Brainwasheed.

There is no making sense to any of you. If the GOP could do everything they did to the American middle class over the past 30 years and you are still voting for them, I guess they got you hooked. Why, because of abortion or guns? Dopes!

That last 2 years of the Bush Presidency .. Democrats controlled Congress.. tell me what they were doing...What was Obama doing... ?

I recall that unemployment was 4.6 when the Democrats took over Congress.. 1/21/2007

 

[KissMy]

Well Shit.. Democrats are so desperate for good news (I can understand that) that they prefer to keep their heads in the sand, nothing new there I suppose.

Political Party over reason..eh

We were bleeding 7 million jobs before the 2008 election, when Bush was in office, and your side said things were fine.

“Anyone who says we’re in a recession, or heading into one—especially the worst one since the Great Depression—is making up his own private definition of ‘recession.’"
-Donald Luskin, September 14th, 2008. Lehman collapsed the next day.

We never came out of the recession. Only Washington DC came out of recession by printing tons of money pushing up GDP. It never trickled out to the rest of the country. The rest of us are still in recession. You idiots are out of touch & the voters will be reminding you of that fact in November.

 

[KissMy]

Papa Obama has spent at almost twice the rate of Bush per year

Straight up - that is just the facts


His pork bill was a failure

You are counting things that are Bush's fault. The bank bailout. The stimulus. The wars. Bush neglected infrastructure for 8 years.

Think about that. Bush ignores our infrastucture for 8 years and bankrupts the country, and then Obama takes office and has to fix what Bush broke, but you won't let him spend any money.

But our infrastructure is falling apart. Bush should have spent money rebuilding our infrastructure, but instead he gave it all to Haloburton. So now Obama has to spend money on things Bush should have done.

And then sending all those jobs overseas??? It is obvious to any thinking person the GOP did all this bad shit on purpose.

The bank bailout was the biggest bank robbery in world history. And Bush went on TV and told us to give the bankers the money or else.

You broke ass right wingers who vote with the billionaires should be ashamed of yourselves. You have allowed the rich to take over our country. Why? God gays and guns. Suckers. Brainwasheed.

There is no making sense to any of you. If the GOP could do everything they did to the American middle class over the past 30 years and you are still voting for them, I guess they got you hooked. Why, because of abortion or guns? Dopes!

That last 2 years of the Bush Presidency .. Democrats controlled Congress.. tell me what they were doing...What was Obama doing... ?

I recall that unemployment was 4.6 when the Democrats took over Congress.. 1/21/2007

Democrats were elected to power in November 2006 & took office in Congress on 1/2/2007. Obama took office in 1/21/2009.

 

[sealybobo]

Hmmm, I just looked at the U.S. Govt's Bureau of Labor Statistics monthly report.

Dec. 2011 . Jan. 2012
------------------------------------------------------------
153.373 . . . 153.485 . . . Civilian labor force (millions)
140.681 . . . 139.944 . . . No. of persons employed (millions)
12.692 . . . . 13.541 . . . No. of persons unemployed (millions)
. . 8.3% . . . . 8.8% . . . . Unemployment rate (percent)

These are the raw numbers, compiled by the government. See them at: Table A-1. Employment status of the civilian population by sex and age

Looks to me like the unemployment rate went UP from Dec. 2011 to Jan 2012. And the number of people unemployed went UP, by 849 thousand people. (6.7% MORE people were unemployed in Jan than in Dec).

"Seasonal adjustments" have somehow made this go away. I wonder how those 849,000 additional unemployed people feel about this?

It's all a sinister Obama plot! His fiendish statisticians cook the numbers by accounting for established rates of seasonal variance using a dastardly ARIMA X model.

Oh wait a second. That's not right. It was Eisenhower.

Eisenhower & Reagan were socialists by today's right wing standards. Anything short of 100% unregulated free markets where its every man for himself is socialism. Safety nets? Socialism. Public schools!!! Socialism. FEMA? Socialism.

Private companies like Blackwater/Haloburton bankrupting our government is good and GE not paying any taxes is Capitalism. Crony.

 

[Neotrotsky]

It would be very foolish to trust any numbers coming from this Government. They lie. It's as simple as that. Their numbers will decrease as the Election draws nearer. Bet on that.

It doesn't matter which index you use. The fact is that the employment picture is improving. We are creating over 200,000 jobs a month and they aren't government jobs. The total unemployment rate U6 which includes those that have dropped out of the labor market started rising in 2006 long before Obama took office. It peaked in late 2009 at about 17.5% and has fell to below 15%. Both indexes have been in a downtrend since 2009. It's pretty clear where unemployment is headed. If the current trend continues, we should see U3, the traditional reported unemployment rate at about 7.4% by the end of 2012.

Unemployment rate drops to 8.3 percent - CSMonitor.com

Going is right

CBO: (1/31/12)

"Had that portion of the decline in the labor force participation rate since 2007 that is attributable to neither the aging of the baby boomers nor the downturn in the business cycle (on the basis of the experience in previous downturns) not occurred, the unemployment rate in the fourth quarter of 2011 would have been about 1¼ percentage points higher than the actual rate of 8.7 percent"
​

translation: CBO just admitted that the BLS numbers are crap and real unemployment is 10%.

Translation: Even though the CBO is a government agency, if we agree with them they are credible even though the government is not credible like the BLS who we don't agree with.

The discussion is not on the "truth" or agreement with BLS, but statistical methods

Your confusion is understandable
Sometime such subtlety is lost on the dimwitted




Truth is hard for the Left
In fact, it is their worst enemy

The Left should run with Papa Obama's economic successes

once they find some

 

[grunt11b]

The recovery continues....

NEW YORK (CNNMoney) -- American employers substantially stepped up their hiring in January, bringing the unemployment rate down for the fifth month in a row.

Employers added 243,000 jobs in January, the Labor Department reported Friday, marking a pick-up in hiring from December, when the economy added 203,000 jobs.

Meanwhile, the unemployment rate fell to 8.3%. That is the lowest since February 2009.

Job growth was much stronger than expected. Economists surveyed by CNNMoney had forecast 130,000 jobs added in the month, and that the unemployment rate likely ticked up to 8.6%.

January jobs report: Hiring ramps up, unemployment falls - Feb. 3, 2012

To hear you say it, you say it like it dropped to 4%. 8.2% sucks ass, and it still means this economy is on life support.

 

[sealybobo]

We were bleeding 7 million jobs before the 2008 election, when Bush was in office, and your side said things were fine.

“Anyone who says we’re in a recession, or heading into one—especially the worst one since the Great Depression—is making up his own private definition of ‘recession.’"
-Donald Luskin, September 14th, 2008. Lehman collapsed the next day.

We never came out of the recession. Only Washington DC came out of recession by printing tons of money pushing up GDP. It never trickled out to the rest of the country. The rest of us are still in recession. You idiots are out of touch & the voters will be reminding you of that fact in November.

Remember Bush sent everyone $500? He just threw that on the debt. Borrowed it from the Chinese.

Without that stimulus, THAT DIDN"T WORK, Bush was in a recession.

But you guys didn't care about those details. You just said that we were not in a recession. And if we didn't like it we could send our $500 back. Remember having that attitude?

But now that we are really not in a recession, you say we are? Partisan says what?

 

[Neotrotsky]

Question:

If Papa Obama gets any real economic successes

Will the Left stop blaming Bush ?

 

[skookerasbil]

CBO said 10% last week.

WTF!!!

The spin by the lefty media today is historic!!

 

[Too Tall]

The recovery continues....

NEW YORK (CNNMoney) -- American employers substantially stepped up their hiring in January, bringing the unemployment rate down for the fifth month in a row.

Employers added 243,000 jobs in January, the Labor Department reported Friday, marking a pick-up in hiring from December, when the economy added 203,000 jobs.

Meanwhile, the unemployment rate fell to 8.3%. That is the lowest since February 2009.

Job growth was much stronger than expected. Economists surveyed by CNNMoney had forecast 130,000 jobs added in the month, and that the unemployment rate likely ticked up to 8.6%.

January jobs report: Hiring ramps up, unemployment falls - Feb. 3, 2012

And now for the rest of the story:

1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation.

I seriously doubt the Obamabats can understand this, but perhaps they will try.

 

[Paulie]

I can tell this good news is really bothering you.

I am delighted with the progress of DEVALUE my home has achieved over the last few years. It tickles me to death as it's worth drops - like every other home in America. I also enjoy it when my 401K tanks. It's a fantastic sensation.

Your home's value is lower because people are morons and don't know when and when not to buy a house. And I'm not sure how your 401k is tanking when the DOW is not far away from its all time high, and the markets in general have been the one area of the economy that's actually performed well throughout this downturn.

 

[sealybobo]

Repubicans want to ignore or forget all the reasons the Dems took back the House and Senate in 2006, and why a black man with relatively no experience was able to beat McCain.

And think how low the unemployment numbers would be if the GOP Tea Bagging House of Representatives didn't force all those spending cuts. Remember Boehner said "so be it, we're broke"? when asked about all the layoffs that would happen due to those cuts?

Normally I would agree with cuts in government spending, but during a time when we are coming out of a great recession? Most of us on the left think the GOP's motive is to sabotage the recovery to make Obama a one term president. That and they cut things like social security and medicare and only things that help the poor. Notice they cried about jobs that would be lost if we cut wasteful military spending? No such thing

 

[Neotrotsky]

What a pathetic racist you are

Typical liberal hypocrite

Does it really matter that Papa Obama is black?

 

[Remodeling Maidiac]

Anyone remember which wingnuts here guaranteed that unemployment would go back up after the holidays...the ones too stupid to comprehend the phrase 'seasonally adjusted'?

lol

I predicted it would in February. And the CBO seems to agree with me if you read their latest report.

I do however hope we are both wrong.

 

[edthecynic]

The recovery continues....

NEW YORK (CNNMoney) -- American employers substantially stepped up their hiring in January, bringing the unemployment rate down for the fifth month in a row.

Employers added 243,000 jobs in January, the Labor Department reported Friday, marking a pick-up in hiring from December, when the economy added 203,000 jobs.

Meanwhile, the unemployment rate fell to 8.3%. That is the lowest since February 2009.

Job growth was much stronger than expected. Economists surveyed by CNNMoney had forecast 130,000 jobs added in the month, and that the unemployment rate likely ticked up to 8.6%.

January jobs report: Hiring ramps up, unemployment falls - Feb. 3, 2012

And now for the rest of the story:

1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation.

I seriously doubt the Obamabats can understand this, but perhaps they will try.

Tin foil hat DittoTards can't seem to understand that the labor force INCREASED even when it's in black and white right in front of their eyes, so maybe red will help their blindness. The BLS is not eliminating anything, you are just too stupid to comprehend what you read.

Febryary 3, 2012
RUSH: Now, more from Tyler Durden at Zero Hedge. "A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%," meaning the universe of jobs. "Looks like the good folks at the BLS heard us: it appears that the people not in the labor force," the number of jobs not available to be filled, "exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month!"
That's part of this two and half million fewer jobs. Are you hearing me on this, folks? It is corrupt as it can be. Well, now, the wait a minute, though. There's nothing new here in the seasonal adjustment. Normally we never talk raw numbers. Nobody ever reports or talks about raw numbers. I happened to see today the raw numbers, and little red flags are going up, my curiosity is being piqued here. And then I see that the labor force participation rate, 1.2 million people dropped out of the labor force in one month, and it happens to be December to January. "So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7%."
That means the number of people working and looking is just 63% of our population. When you take those numbers and when you shrink the labor force, you are reducing the overall universe of jobs, and therefore the unemployment rate can do nothing but come down. It can do nothing but fall when you reduce the universe number that employed and unemployed are being measured against.