2012 Presidential Election (free for all edition)

[12thMan]

JOBS: NFP added 114K jobs; 86K jobs revised upward previous 2 months; Labor force participation ticked up a tenth, suggesting rate didn't drop due to less people looking for work.

Unemployment rate at 7.8%, lower than when Obama took office. More work to do.

[firstdown]

Originally Posted by 12thMan

JOBS: NFP added 114K jobs; 86K jobs revised upward previous 2 months; Labor force participation ticked up a tenth, suggesting rate didn't drop due to less people looking for work.

Unemployment rate at 7.8%, lower than when Obama took office. More work to do.

Also add that most of those jobs added are part time low paying jobs.

[12thMan]

Originally Posted by firstdown

Also add that most of those jobs added are part time low paying jobs.

Most? You got a link for that?

[firstdown]

Originally Posted by 12thMan

Most? You got a link for that?

US jobless rate falls to 7.8 pct., 44-month low - Yahoo! Finance


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, the most since February 2009.

[Slingin Sammy 33]

Originally Posted by 12thMan

JOBS: NFP added 114K jobs; 86K jobs revised upward previous 2 months; Labor force participation ticked up a tenth, suggesting rate didn't drop due to less people looking for work.

Unemployment rate at 7.8%, lower than when Obama took office. More work to do.

LOTS more work to do. From BLS:

http://www.bls.gov/news.release/pdf/empsit.pdf

Over the past 12 months, average hourly earnings have risen by 1.8 percent. That's less than the annual inflation rate.

The number of

long-term unemployed (those jobless for 27 weeks or more) was little changed

at 4.8 million and accounted for 40.1 percent of the unemployed.

The overall trend in the employment-population ratio for this year has been flat.

[12thMan]

Originally Posted by Slingin Sammy 33

LOTS more work to do. From BLS:

http://www.bls.gov/news.release/pdf/empsit.pdf

Over the past 12 months, average hourly earnings have risen by 1.8 percent. That's less than the annual inflation rate.

The number of

long-term unemployed (those jobless for 27 weeks or more) was little changed

at 4.8 million and accounted for 40.1 percent of the unemployed.

The overall trend in the employment-population ratio for this year has been flat.

Yeah, wages have been consistently stagnant (flat) for many years now and declined during the recession.

[mlmpetert]

Originally Posted by 12thMan

JOBS: NFP added 114K jobs; 86K jobs revised upward previous 2 months; Labor force participation ticked up a tenth, suggesting rate didn't drop due to less people looking for work.

Unemployment rate at 7.8%, lower than when Obama took office. More work to do.

Definitely very good news for Obama, but maybe not so much those looking for work.

Any reasonable economist has to question the disparity between the 2 numbers. And right now i think everyone is kind of scratching their heads trying to explain it.

I initially heard the report on the radio this morning and the economist they had on was really surprised by the difference and couldnt explain it. He did mentioned that the household survey is much more volatile than the establishment survey. Im sure its way off but that the real number is still well over 200k new jobs. I believe its susposed to be revised 2 days before the election.



BLS claims almost 1 million Americans found new jobs | WashingtonExaminer.com