Author Topic: Unemployment rate drops slightly  (Read 579 times)

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Offline mystery-ak

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Unemployment rate drops slightly
« on: September 06, 2013, 08:41:12 AM »
http://dyn.politico.com/printstory.cfm?uuid=4FEEA0B9-A288-4E34-AF54-69CFC5AA66E6

 Unemployment rate drops slightly
By: Jon Prior
September 6, 2013 08:37 AM EDT

The U.S. economy added 169,000 jobs in August while the unemployment rate dropped slightly to 7.3 percent, federal economists reported Friday.

The jobs report comes as Federal Reserve officials prepare to meet later this month to determine if the economy is improving enough for the central bank to slow its stimulus programs. Financial markets anticipate that the Fed will scale back the bond buying program it has used to keep interest rates low and boost investment and lending.

The numbers released on Friday by the Labor Department are unlikely to change these expectations. Economists had expected the economy to create 175,000 jobs in August, according to a Bloomberg survey.

The looming Fed decision has already sent interest rates rising on mortgages and other products in recent months. Some have raised concerns that the economy is still too fragile and that the Fed could be moving too quickly, while others worry that ongoing stimulus could lead to inflation, although there is little evidence prices are climbing quickly.

The numbers released Friday show that the economy continues to slowly heal from the recession that followed the 2008 financial crisis.

The employment report also arrives as lawmakers prepare to return for a fall session that will be filled with economically consequential decisions that could determine how quickly this recovery continues. By the end of this month Republicans and Democrats will have to agree on how to keep the government funded into the fiscal year beginning in October or risk a government shutdown.

In addition, the Treasury Department is warning that the government’s borrowing limit will need to be increased by mid-October to avoid a market and economy rattling default.

For now, both parties are holding to their negotiating positions and it’s unclear what type of deal can be struck to avoid a government shutdown or default.

The jobs number has a margin for error of plus-or-minus 100,000 jobs, while the unemployment rate has a margin for error of about plus-or-minus 0.2 percent.

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Offline mystery-ak

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Re: Unemployment rate drops slightly
« Reply #1 on: September 06, 2013, 08:45:14 AM »
Business Insider's version

http://www.businessinsider.com/the-august-jobs-report-2013-9


Markets More: Economy Economic Data Non-Farm Payrolls
WEAK: JUST 169,000 NEW JOBS CREATED IN AUGUST, BAD DOWNWARD REVISIONS, LABOR FORCE PARTICIPATION RATE FALLS
Joe Weisenthal   48 minutes ago

The jobs number number is out and it is weak.

There were just 169K new jobs created in August.

What's worse. Last month was revised SHARPLY down from 162 to 104K. That is quite ominous.

The unemployment rate did, however, drop to 7.3%, but that's basically just due to continued exodus from the workforce.

The participation rate fell from 63.2% from 63.4%.

Snap reaction: This could delay the taper a bit, as gold is surging, the dollar is tumbling, the US 10-year is seeing yields go down, and stocks are actually gaining.

You can read the full report here.
http://bls.gov/news.release/empsit.nr0.htm

Lots and lots more to come.



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Online Oceander

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Re: Unemployment rate drops slightly
« Reply #2 on: September 06, 2013, 10:08:46 PM »
Quote
What's worse. Last month was revised SHARPLY down from 162 to 104K. That is quite ominous.

Where are the choruses of "unexpected?"  Or are people finally getting wise to the Obama (mal)administration's constant falsifying of data for political purposes?

Offline Cincinnatus

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Re: Unemployment rate drops slightly
« Reply #3 on: September 07, 2013, 02:07:37 AM »
Slightly?

Quote
Unemployment Rate Down 0.5% in 56 Months Since Obama Became President

Over the last 56 months – since Barack Obama became president in January 2009 --unemployment has dropped 0.5%, from a rate of 7.8% in January 2009 down to 7.3% in August 2013, according to the latest numbers from the Bureau of Labor Statistics

During those 56 months, the unemployment rate rose substantially to a high of 10% in October 2009 and stayed in the high 9% range for 2010 and much of 2011. In January 2012, the unemployment rate was 8.3%. It crept down to 7.8% in December 2012, exactly what it was when Obama was inaugurated (and George W. Bush left office).


http://cnsnews.com/news/article/michael-w-chapman/unemployment-rate-down-05-56-months-obama-became-president
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Offline evadR²

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Re: Unemployment rate drops slightly
« Reply #4 on: September 07, 2013, 09:50:25 AM »
It's all "Hocus Pokus".
The participation rate drops so the unemployment rate follows.
If we can get all the the people to stop looking for jobs, the UR will then be zero.
November 6, 2012, a day in infamy...the death of a republic as we know it.


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