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Much-Anticipated Jobs Report Is Out (Who will be smiling (big) today)

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Unemployment Rate Drops To 7.8 Percent, Nearly 4-Year Low


unemployment stats jobs report

By Lucia Mutikani


WASHINGTON, Oct 5 (Reuters) - The U.S. unemployment rate dropped to a near four-year low of 7.8 percent in September, a potential boost to President Barack Obama's re-election bid.

The Labor Department said on Friday the unemployment rate, a key focus in the race for the White House, dropped by 0.3 percentage point to its lowest point since January 2009.

A survey of households from which the jobless rate is derived showed 873,000 job gains last month, the most since June 1983. The drop in unemployment came even as Americans come back into the labor force to resume the hunt for work. The workforce had shrank in the prior two months.

The household survey is volatile. A survey of business establishments showed employers added 114,000 jobs to their payrolls last month, a touch above economists' expectations for 113,000 jobs. Employment for July and August was revised to show 86,000 more jobs created than previous reported.

It was the second last report before the Nov. 6 election that pits Obama against Republican Mitt Romney.

A Reuters/Ipsos poll released on Thursday after Wednesday's first presidential debate showed Romney gained ground and is now viewed positively by 51 percent of voters. Obama's favorability rating remained unchanged at 56 percent.

Economists blame the so-called fiscal cliff for the slowdown in business hiring, which has left millions of Americans working either part-time or unemployed and too discouraged to look for jobs.

The Congressional Budget Office has warned that a failure by Congress to avoid the automatic tax hikes and government spending cuts that will suck about $600 billion out of the economy next year would knock the economy back into recession.

"Businesses are not hiring people, they want to wait and see how the election evolves and how the political landscape shapes up," said Sung Won Sohn, an economics professor at California State University Channel Islands in Camarillo, California.


by on Oct. 5, 2012 at 9:17 AM
Replies (71-80):
asfriend
by on Oct. 5, 2012 at 11:15 AM
No chance!


Quoting Cakes24:

Wow, what a bunch of nit-pickers...so lame. Get REAL facts and post them.


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trippyhippy
by Gold Member on Oct. 5, 2012 at 11:17 AM
3 moms liked this

First- screw you

Second- you sure are acting like a serious bitch for someone who is new to a group.

Third- F@ck off

Fourth- go climb back uder your rock.  We don't need more nut cases in this group.

Quoting Cakes24:

First, I'd like to point out your signature. It just shows so much about your character.

Second, that's not the real unemployment rate and anyone and everyone who thinks it is is just plain ignorant. I think a couple other repliers are absolutely right. If there was a change in the rate, it's only due to seasonal jobs and people who have stopped looking for work.

Third, I can't believe the lefty liberal pool I just jumped into. Wow...you people will say anything to defend our sorry excuse for a President.

Fourth, let it be known that I will not accept any attempt from you (liberals) to try to "educate" me with your crap statistics.

Quoting trippyhippy:

What's f@cked up is the conservatives actually want bad job numbers. How selfish and unamerican.




trippyhippy
by Gold Member on Oct. 5, 2012 at 11:19 AM
2 moms liked this

Well then it's the biggest seasonal jump in 30 years.

Quoting ExquisiteMomof2:

Got to love skewed and bias reports. It's seasonal hiring time. That throws off the numbers big time. Any person with half a brain of common sense knows that.



trippyhippy
by Gold Member on Oct. 5, 2012 at 11:24 AM
3 moms liked this

That's awesome!  Congrats!  My best friend has been unemployed for 2 years and just finally found a job as an office manager.

Quoting radioheid:

My husband just got hired permanently from a temp job this week. AND got a raise. A substantial raise at that. Let's not knock the temp jobs.

Quoting ms-superwoman:

Yup, my brother was working in a temp job and got hired in. Went from part-time to full-time, and got a substancial raise.

Quoting annabl1970:

And some of those seasonal jobs have a great chance to become permanent.

Quoting shannonnigans:

So we added 873,000 SEASONAL jobs only? Is that right, they're all "seasonal"? Almost 1 million?

It must be one hell of a season, already, since those "seasonal" jobs were apparently the biggest gain since 1983, almost thirty years. Even amongst the previous thirty years of just "seasonal" hiring, it's a home run by any measure.

873,000 jobs. Biggest gain in thirty years. Good thing for you it's just "seasonal". You wouldn't want any of these people to finally find real gainful employment now would you, not now, anyway, as that wouldn't fit with your political desires. This must come at a real bad seasonal time for you.




Quoting Ann7227:

Hello it's because of seasonal workers. And people who have given up on looking. I wouldn't celebrate just yet.







NWP
by guerrilla girl on Oct. 5, 2012 at 11:24 AM
1 mom liked this

Some, yes....But unless it is the first holiday season in four years, your argument doesn't hold up.

Quoting Ann7227:

Doubt it. Just watch and wait it will go back up. It's Holiday hiring season.  Don't get to happy.

Quoting annabl1970:

The U.S. unemployment rate dropped to a near four-year low of 7.8 percent in September, a potential boost to President Barack Obama's re-election bid.
 



New World Peace

Raintree
by Ruby Member on Oct. 5, 2012 at 11:25 AM

And now you know what workers and their families felt like when their place of employment was taken over by Bain.

Quoting Lizardannie1966:

The company my husband has been with for nearly 14 years has gone through a total overhaul in the past few years.

There are new owners and so many people have either been terminated or have quit that half the time, my husband doesn't know who he's dealing with when he calls (for example) Chino, Sacramento, Kent or even Hawaii. They're all younger and not one of them really knows about the type of business that they're in, which is metal roofing and rain gutter.

And a good portion of them, including newbies at the Phoenix division that my husband is a lead man at, are from temp-to-hire agencies.

It's a job and so far, with the exception to one gal who took a smoke break every half hour (she wasn't invited to be permanent), these temp-to-hire folks have been working out. They're hungry for work and they're very hard workers.

I would guess that a part of the decline in rate has to do somewhat with those who made the decision to go to a temp-to-hire agency.


Cakes24
by Member on Oct. 5, 2012 at 11:25 AM
1 mom liked this

Oh OUCH! Did I offend you in some way? No need to get all butt hurt over it or anything. I may be new to this group, but I'm not new to the moronic comments and arguments that come out of the seriously uneducated liberals. I can clearly see that there doesn't need to be any more nut cases in this group so why don't you all go fudge some more numbers to publish and lie to the people even more?

Quoting trippyhippy:

First- screw you

Second- you sure are acting like a serious bitch for someone who is new to a group.

Third- F@ck off

Fourth- go climb back uder your rock.  We don't need more nut cases in this group.

Quoting Cakes24:

First, I'd like to point out your signature. It just shows so much about your character.

Second, that's not the real unemployment rate and anyone and everyone who thinks it is is just plain ignorant. I think a couple other repliers are absolutely right. If there was a change in the rate, it's only due to seasonal jobs and people who have stopped looking for work.

Third, I can't believe the lefty liberal pool I just jumped into. Wow...you people will say anything to defend our sorry excuse for a President.

Fourth, let it be known that I will not accept any attempt from you (liberals) to try to "educate" me with your crap statistics.

Quoting trippyhippy:

What's f@cked up is the conservatives actually want bad job numbers. How selfish and unamerican.




etsmom
by Bronze Member on Oct. 5, 2012 at 11:26 AM

If you stop filing for unemployment, of course it appears that the unemployment rates have dropped.

jhslove
by Bronze Member on Oct. 5, 2012 at 11:27 AM
2 moms liked this

The job market is also better in my husband's field. It was really dismal in 2009-2010, then last year it started to get better, and this year it's looking significantly better.

Quoting stacymomof2:

That report is all over the place.  I will say we are hiring like crazy at my job.

Just as a gut I think it's getting better, at least in my area.  for the past couple of years we would get unsolicited apps from college grads trying for nightclub security and bartending jobs.  Those people are no longer in the pool, now we are getting students and people who are not in school.  

We also opened a restaurant and are actively recruiting cooks and servers, which we usually do not have to recruit at all.  And we are looking for a marketing person and a sales person in the office, and a manager.  Big difference from 2 years ago when we were cutting people because we just didn't have the revenue to support the positions.  We just all handled two or three different positions.  It has nothing to do with the election or Obama...when our customers spend more money, we spend that money on expanding the business, instead of like the last few years where we just battened down the hatches and had a skeleton crew.  It is a service business, so no income= no hours, even for the marketing office.

Even though I know there are still plenty of people under-employed and grads struggling to find something decent, it must be getting a little better if they are not trying for a security position at a nightclub!  (Which doesn't pay much and not very many hours, and kind of crappy hours, too...late nights, weekend and holidays.)


asfriend
by on Oct. 5, 2012 at 11:27 AM
Always shocked when you throw some blog out there as proof of your position.

Don't know why I'm shocked, I suspect too much faith in people's ability to learn is by far my greatest fault.

If someone wanted to break into your home and steal your things, brutally rape and murder you, and I stated, loudly and often, my Allah, I hope he fails, and I passed along my knowledge of his intentions to others, and they agreed and said my goodness I hope he fails too. Then as a group we passed along this knowledge, and we all said gosh we hope he fails, what would you think of that?

Quoting lga1965:

 http://egbertowillies.com/2012/09/02/gop-specifically-stated-they-wanted-obama-to-fail-and-would-obstruct-at-every-turn/


Comprehend THIS, asfriend.


You are always full of it.Backtracking is your forte, your talent.


He doesn't hate the country at all. YOU hate Democrats...specifically the President.


Quoting asfriend:

I know you won't comprehend this,

WE WANTED HIM TO FAIL IN HIS MARCH TO TRANSFORMATION ALLY CHANGE THE COUNTRY.

We don't hate the country as he does.

Who here gets it?



Quoting lga1965:


 



Quoting Aislinn:



 Bull. Shit. ...Hook, line and sinker. Yes, because of seasonal jobs and people who are no longer eligible for unemployment benefits. You do not find it suspicious that this is right before the election? This country is so screwed. Not because of our government, but the gullibility of the American people. Sad.



 Most conservatives have said( since 2008) that they want Obama to fail, even if it means that it would hurt the country. Here is an example. You want unemployment to be high so that you can blame Obama for it ......that's really mean.If you care at all, and if you can be rational, you will be happy that there is a small improvement in the unemployment situation and a glimmer of hope. Is that so hard to do?



 



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