Jobless rate falls to 7.8 %

[bhunter]

Originally Posted by Boreas

Her response was that she could have told me 6 months ago that Obama would release fake unemployment figures right before the election.

I said, "So, the fact that it's good news makes it false?"

She just said, "I don't believe it."

So, then I said, "Look, I'm not married to either one of those guys. If these numbers are proven to be bogus, I'll be the first to admit it."

Her response was to say, "I'm gonna hold you to that."

I then asked her if she would admit it if the numbers turned out to be true.

Her reply was, "I don't think that's going to happen."

Groan.............

John

There is nothing wrong with the numbers; however, I think they are not particularly significant given the BLS methodology. Similarly, I don't like the much tweaked CPI.

BTW, since you appear to like BLS data, have you checked out their American Time Use Survey? I found it rather interesting.

http://www.bls.gov/tus/#tables

[JBS...]

Originally Posted by Boreas

You people are really amazing. Your capacity for self delusion is positively staggering.

Groan.............

John

oh, goodie pictures... I have some too..

[Rex E.]

Originally Posted by JBS...

oh, goodie pictures... I have some too..

Interesting pic JBS...

It would seem that it was on a very very steep rise at the end of the Bush term and continued for the next several months under Obama (as anyone would expect no matter who won office as it does take a bit of time. Ever tried to turn a cruise ship or an aircraft carrier?)

Then it peaks in Oct '09 with another bump in May 2010 and another Dec 2010. Post Dec 2010 it's been in steady decline. 18 months of steady decline in unemployment according to your pic. Looks like the policies are working despite the oppositions best efforts in congress to STOP THE TURN AROUND OF UNEMPLOYMENT!

[bhunter]

Originally Posted by Rex E.

Interesting pic JBS...

It would seem that it was on a very very steep rise at the end of the Bush term and continued for the next several months under Obama (as anyone would expect no matter who won office as it does take a bit of time. Ever tried to turn a cruise ship or an aircraft carrier?)

Then it peaks in Oct '09 with another bump in May 2010 and another Dec 2010. Post Dec 2010 it's been in steady decline. 18 months of steady decline in unemployment according to your pic. Looks like the policies are working despite the oppositions best efforts in congress to STOP THE TURN AROUND OF UNEMPLOYMENT!

But you're not considering his second graph. The participation numbers and the unemployment rate are linked. That is, lower participation will also decrease the unemployment rate in similar proportion to an increase in the number of jobs. The use of the unemployment rate alone is not sufficient to characterize the nation's employment. I wish the statistics challenged media would realize it. If you want to see what can be done with data, check out how the CPI has been modified starting back in the Reagan Administration.

[icenine]

Originally Posted by piece-itpete

It'll become the 46%

It's very good news for us, and good news for Obie, I hope it's, um, straightforward. At this point I'd be leery of anything like this from both sides though.

It has felt like things are getting better.

Pete

WOW ....the cool meter is surging to .....1!

[icenine]

Originally Posted by bhunter

We're still going backwards regardless of the so-called unemployment rate. This from BLS:



I think the growth in healthcare employment strongly correlates with the aging population and transport/warehousing perhaps being related to pre-Christmas and back-to-school. Moreover, the number of jobs were lower than what most predicted yet the rate decreased. I'm not sure I'd be jumping for joy now that 206 more people are employed today than were in August.

Come on quit looking for gloom in the sunshine....

[bhunter]

Originally Posted by icenine

Come on quit looking for gloom in the sunshine....

I point you to A.E. Houseman's "Terrence This Is Stupid Stuff." A great poem that capture the essence of pessimism.

[icenine]

Originally Posted by bhunter

I point you to A.E. Houseman's "Terrence This Is Stupid Stuff." A great poem that capture the essence of pessimism.

Hmmm I guess you do have a sort of survivalist bent lol......

[Oerets]

I keep hearing the statement used when this statistics are made, "those who quit looking". What exactly does that mean?



Barney

[wgrr]

Originally Posted by piece-itpete

It'll become the 46%

It's very good news for us, and good news for Obie, I hope it's, um, straightforward. At this point I'd be leery of anything like this from both sides though.

It has felt like things are getting better.

Pete

Pete, honestly I feel things are improving a lot. I was test driving cars Wednesday while my work truck was in the shop. We drove down a highway that is narrow and curvy. I was shocked to see a couple of huge new McMansion subdivisions going in. Most houses were already sold and many new homes were under construction.

I see signs of economic recovery in my area all the time. The car lot I was at sold sixty four white fleet pickups and vans this month. There are major road improvement projects going on everywhere. Four huge schools have been built this year in the NW Arkansas metropolitan area. I have many more examples. I will spare you.

Right now I do not believe it is a good time to change horses in the middle of the stream. Romney/Ryan is not the answer. I have not heard one specific about how they are going to get use out of this mess.

To me we are coming out of the depression /recession despite an almost 100% obstruction of the Republican members of Congress, on all bills proposed, to improve the economy. It reinforces my faith in the American worker. Thank God for us.