October 5, 201214 yr Of course more jobs have been added. It is almost time for the Christmas holiday and stores always add more jobs and after the holidays, then they lay off all the extra workers hired and we are again back to high unemployment.
October 5, 201214 yr In the past the argument has been made that the UE rate does not reflect those that have simply dropped out. I read something this morning that said "employment-to-pop ratio and labor force participation are both up " which means drop outs are not the reason for the decrease. Note: I am not familiar with the ratio mentioned. I'll assume Ezra Klein knows what he's talking about.
October 5, 201214 yr Author Of course more jobs have been added. It is almost time for the Christmas holiday and stores always add more jobs and after the holidays, then they lay off all the extra workers hired and we are again back to high unemployment. Whatever, was it at 7.8 last October? Don't think so, which means we are adding jobs. Also numbers show that we underestimated jobs created over the summer and had to UP those numbers. I don't understand "internals" either, but, however you look at it, we are climbing out of the G.O.P.othole. Imagine had cities and states not layed off all of the those Police Officers and Firefighters and yes even the teachers. Imagine if Congress had passed the American Jobs Act.
October 5, 201214 yr This link shows detailed UE numbers. Table A-15. Alternative measures of labor underutilization
October 5, 201214 yr Whatever, was it at 7.8 last October? Don't think so, which means we are adding jobs. Also numbers show that we underestimated jobs created over the summer and had to UP those numbers. I don't understand "internals" either, but, however you look at it, we are climbing out of the G.O.P.othole. Imagine had cities and states not layed off all of the those Police Officers and Firefighters and yes even the teachers. Imagine if Congress had passed the American Jobs Act. Some 582,000 Americans took part-time positions because of slack business conditions or those jobs were the only work they could find. Add to that the people that have just given up and aren't even looking any longer and aren't counted in the unemployment rate.
October 5, 201214 yr Still, many of the jobs the economy added last month were part time. The number of people with part-time jobs who wanted full-time work rose 7.5 percent to 8.6 million. US jobless rate falls to 7.8 pct., 44-month low - Yahoo! Finance This, plus the increase in gov't jobs would seem to explain the jobs #s Unemployment Rate Plummets to 4.3%--For Government Workers Unemployment Rate Plummets to 4.3%--For Government Workers | CNSNews.com
October 5, 201214 yr It's very good news for Obama as the headlines will trumpet it no matter the circumstances and even if it's later adjusted it won't matter for publicity purposes. This is the last one that people will have any time to ponder before the election so it comes at the perfect time for him.
October 5, 201214 yr It's very good news for Obama as the headlines will trumpet it no matter the circumstances and even if it's later adjusted it won't matter for publicity purposes. This is the last one that people will have any time to ponder before the election so it comes at the perfect time for him. True.
October 5, 201214 yr Some 582,000 Americans took part-time positions because of slack business conditions or those jobs were the only work they could find. Add to that the people that have just given up and aren't even looking any longer and aren't counted in the unemployment rate. I think you are referring to the UE4 and UE5 rate and both have gone down. Ace's point is that it's a relative measure. This is good news in a weak economy.
October 5, 201214 yr It's very good news for Obama as the headlines will trumpet it no matter the circumstances and even if it's later adjusted it won't matter for publicity purposes. This is the last one that people will have any time to ponder before the election so it comes at the perfect time for him. Yep. You are right about that. And of course Obama will trumpet this as a sign of progress from now till election day. Not good news for Romney.
October 5, 201214 yr Gov Romney has responded (and we will hear this in the next debate): “This is not what a real recovery looks like,” Romney wrote. “We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office.” Unemployment rate below 8%, but Romney says not enough – CNN Political Ticker - CNN.com Blogs
October 5, 201214 yr Gov Romney has responded (and we will hear this in the next debate): “This is not what a real recovery looks like,” Romney wrote. “We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office.” Unemployment rate below 8%, but Romney says not enough – CNN Political Ticker - CNN.com Blogs And he's exactly right.
October 5, 201214 yr Gov Romney has responded (and we will hear this in the next debate): “This is not what a real recovery looks like,” Romney wrote. “We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office.” Unemployment rate below 8%, but Romney says not enough – CNN Political Ticker - CNN.com Blogs As long as we have an internationalized labor market, a large percentage of the jobs created will be off shored, or on shored to low cost foreign labor. I have heard way too many fist hand stories of people employed long term only to be laid off just prior to being vested in a retirement plan.
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