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LAST LABOR DEPARTMENT JOBS REPORT before election confirms US economy stuck, with new jobless claims canceling out job growth, unemployment up to 7.9 percent — and 12.3 million still out of work.
Good to know we gave trillions of dollars to some greedy corporations for nothing eh?
Oh - I am sure there were some backhand returns that were never discussed....
But let's stay the course with the current Admin
Pretty sure the Green jobs will start paying dividends by 2056.
This post was edited by DrStache 17 months ago
I'm interested to see how the teenagers come in the thread and spin this to be a sign that Obama has fixed the economy.
Also, does anyone else find it strange that if you are on welfare that you are not considered unemployed? Yet if you work 2 hour a week that you count as being employed. Basically, if a company has 400 hours of work to do each week, instead of having 10 full time employees they can avoid paying the full time benefits by employing 20 people to work 20 hours a week. That also doubles their employment #'s. Plus, with the holidays coming up, most "new" jobs will be part time seasonal labor that will be laid off after Christmas. Great times indeed.
Some peeps need to quit being lazy and get their hustle on and get a job.
I Believe Auburn and Love IT...4 Life!
You should prepare yourself to live with the consequences of your decisions, whatever they may be.
No point when you collect a welfare check every month without doing anything. Lucky for us those peoples votes count the same as mine. :/
You left out the "new hiring" part. This is mixed news.
Employers added 171,000 jobs in October, and the unemployment rate ticked up to 7.9%.
Surely you are smart enough to realize that the "new hiring" is mostly part time work for the holidays.
Odumba promised us 5.2% and we are in fact worse off now than when he took office plus 5 trillion more in debt.
Indeed. The local Walmart just hired 35 new part timers for Black Friday. They'll be fired by Christmas.
That's also a factor. That and the entry of new people into the labor market, which contributed to the rise in unemployment. Thus, mixed news.
7.9% not counting the millions who have stopped looking and are not being counted.
Scored 4 touchdowns...in a single game. Polk High!
I always find it sad that people act like welfare checks and food stamps are the biggest drain on national debt.
We probably spend more on welfare in afghanistan and other countries where we are trying to "spread democracy".
It's actually encouraging news. It means more people are confident about finding employment. The question becomes if they will be able to find employment, but the fact that more people were looking is a good sign. Hopefully it leads to increases in job growth.
Unemployment rate moves slightly higher because job seekers are getting more optimistic about the labor market.
I think the only thing that might help the numbers or give a false perception is that companies are making holiday hires that will not last long term
It's also sad that repubs act like Bush didn't exist. Anything he did is in the past and should stay in the past OR fall on obama.
If romney wins, what are the odds that he blames everything on obama? 100%
Real root of this crap if that we need real change that dems and repubs aren't able to bring. Viva libertarians :)
LOL, so it is because some (of the many that are not being counted) have decided to reenter the labor market. Great news CNN, now finish the story with the millions that are still not being counted because they have not been able to find work and gave up and are STILL not confident anything has changed.
Lets be real, the economy is still in the tank. Unfortunately, obama hasn't been able to make a clearly discernable change.
- The so-called real unemployment rate fell slightly in October, going from 14.7 percent to 14.6 percent, according to a report from the Bureau of Labor Statistics Friday.
This rate is a more comprehensive picture of those who are unemployed or underemployed.
Known as the U-6 rate, this measure combines those traditionally counted as unemployed, those counted as underemployed – holding part-time jobs for economic reasons, and those marginally attached to the labor force.
It is considered a more comprehensive measure of the employment pictures because it includes those two additional figures along with the traditional unemployment rate – giving a more thorough look at the impact of the economy on employment.
If Obama is reelected it will be with the highest unemployment rate since FDR
Guys guys guys, the unemployment rate going up means we are headed in the right direction!
The report, entitled “The Job Impact of the American Recovery and Reinvestment Plan,” was released on Jan. 9, 2009. It was put out by the office of the president-elect was written by economists Christina Romer and Jared Bernstein. Romer would become chairwoman of the Council of Economic Advisers for President Obama. Bernstein was Vice President Biden’s chief economic advisor.
Page four of the report features a chart projecting the unemployment levels with and without the stimulus. With the stimulus, the Romer and Bernstein predicted that unemployment would never rise past 8 percent, and would peak just under that in the third quarter of 2009 before steadily declining to around 5.6 percent by today. Without the stimulus, they predicted that unemployment would peak around 9 percent in the third quarter of 2010 before declining to around 6 percent today.
The then-Democrat majority Congress passed the $819 billion stimulus bill later that month. The projection turned out to be one of the few things connected to it that was shovel-ready. The unemployment rate reached 10.1 percent in late 2009
Regardless of any numbers, it feels unstable and therefore it is unstable. Now it is much better than where we were headed under bush, but it isn't reality to say we're good now. While the bleeding slowed under obama, we're still bleeding
Sadly, romney seems worse than bush.
Damn. 5 trillion added to the deficit and we managed to reduce total unemployment by .7%!
30 trillion more should do the trick!
Don't need measures. I look at life. We arent out of the woods by any stretch.
I won't act like obama put us here, but I won't act like he fixed it either.
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