The unemployment rate is down to 8.3% marking the fifth straight month it has decreased. The five straight months of a decreasing unemployment rate is the first time since 1994 it has decreased for 5 straight months if I am not mistaken. Here is a link from Fox News so it won't be seen as coming from the liberal media.

 

 

http://nation.foxnews.com/jobs/2012/02/03/unemployment-down-83-employers-add-243000-jobs-january

Of course everyone wants the unemployment rate to go down, but this is not good news if you want Obama to get beat in November.

Here is a link from wlex 18 but it is in mobile format so it may not work from a PC. iPhone users should be good to go.

 

 

http://www.lex18.com/mobile/news/unemployment-rate-hits-8-3-pct-after-hiring-burst/

Stronger numbers than expected. Good to see jobs being added, even though I'm not voting for Obama. People getting back to work > My own political desires.

 

But didn't the CBO just recently paint a gloomy economic future?

Of course everyone wants the unemployment rate to go down, but this is not good news if you want Obama to get beat in November.

 

I agree. I also think these numbers will be scrutinized in every shape, form and fashion but I thought the downward trend is worth noting since President Obama takes a lot of blame for the unemployment rate. I figured he deserved a shout out when things appear to be getting better.

The only factor misleading in the U3 (official unemployment rate) is it doesn't account for people who are not actively seeking work. So technically, the true unemployment rate is a little higher. Nonetheless, we have had a steady decrease in unemployment for the last few months. I'm not taking a shot at Obama as much as the report itself.

 

People who qualify as unemployed:

 

•Contacting: An employer directly or having a job interview

A public or private employment agency

Friends or relatives

A school or university employment center

 

•Sending out resumes or filling out applications

•Placing or answering advertisements

•Checking union or professional registers

•Some other means of active job search

Stronger numbers than expected. Good to see jobs being added, even though I'm not voting for Obama. People getting back to work > My own political desires.

 

But didn't the CBO just recently paint a gloomy economic future?

 

Very gloomy for next year, not quite as bad for this year if I remember correctly.

I like this chart as it shows how deep this recession was and how the recovery fares relative to other recessions. There's been a fairly strong trend toward recovery, but not nearly as steep as others. I've read some economists who believe a full recovery would be about double the current rate. There's also a generally held belief that recoveries are almost always followed by second recessions, though shorter and milder. If these trends are to be believed (and aren't economists about as accurate as meteorologists?) then we have a while to go before things are back to "normal."

 

I don't know how you go from 132.9 million people working in December to 130.4 million people working in January. That's a loss of 2.5 million jobs. I don't know how you get from that to an increase of 233,000 jobs after the seasonal adjustment. Can someone explain?

The only factor misleading in the U3 (official unemployment rate) is it doesn't account for people who are not actively seeking work. So technically, the true unemployment rate is a little higher. Nonetheless, we have had a steady decrease in unemployment for the last few months. I'm not taking a shot at Obama as much as the report itself.

 

People who qualify as unemployed:

 

This, and the people who are underemployed.

 

•Contacting: An employer directly or having a job interview

A public or private employment agency

Friends or relatives

A school or university employment center

 

•Sending out resumes or filling out applications

•Placing or answering advertisements

•Checking union or professional registers

•Some other means of active job search

This, and the underemployed.

I don't know how you go from 132.9 million people working in December to 130.4 million people working in January. That's a loss of 2.5 million jobs. I don't know how you get from that to an increase of 233,000 jobs after the seasonal adjustment. Can someone explain?

Obama's math-made-easy method.

I don't know how you go from 132.9 million people working in December to 130.4 million people working in January. That's a loss of 2.5 million jobs. I don't know how you get from that to an increase of 233,000 jobs after the seasonal adjustment. Can someone explain?

I was wondering the same thing.

I have to question the numbers. The number of people not in the labor force exploded by an unprecedented record 1.2 million. So as the labor force increased from 153.9 million to 154.4 million those not in the labor force surged from 86.7 million to 87.9 million. The report of the unemployment rate down to 8.3% sounds like spin to me.

I can't figure out how they got that percentage. Unless I am missing something.

I'm not sure myself but as long as it's calculated the same as it's always been it still is a positive direction.