BREAKING NEWS: Payrolls drop by just 247,000; jobless rate dip to 9.4%, sign of slump ending

Source: MSNBC

Unemployment rate drops to 9.4 percent in July
Nation's economy also shed fewer jobs than expected

WASHINGTON - Employers throttled back on layoffs in July, cutting just 247,000 jobs, the fewest in a year, and the unemployment rate dipped to 9.4 percent. It was a better than expected showing that offered a strong signal that the recession is finally ending.

The Labor Department's report was better than many analysts were expecting. They were forecasting job losses to slow to around 320,000 and the unemployment rate to tick up to 9.6 percent, from 9.5 percent in June.



Read more: http://www.msnbc.msn.com/id/32327533/ns/business-stocks_and_economy/

But that is a good sign indeed.

love the media

The stimulus was a failure!! :eyes:

K&R

I guess I don't find this news all that uplifting.

Sorry about your job.

He was all ready to be smug over the bad news, since everybody expected the rate would go up.

now LEAVE BARACK ALONE!! :O)

Have you seen the empty stores in the strip malls of your town? On the main drag of my town there are not only bankrupt car dealers, there are four huge former franchise restaurants that are empty in a row.

Nobody's going to move into those places. Not restaurants, because in this economy you'd have to be a fool or a total incompetent not to cook your own food. No stores, because nobody can compete with Wal-Mart. No doctor's offices, because doctors are afraid they will never be paid ever again when universal medical care comes in (yes, that's a lie, but it's a pervasive one). And they can't be turned into housing for the poor.

I fully expect that the many TV and radio stations around us, nearly all of them owned by Clear Channel or other giant corporations, will be going off the air soon. No advertising money, because of no advertisers. So those twenty country stations in your town will dwindle to one (they were all playing the same automated music anyway).

The ecology people will cheer the downsizing and ending of all these carbon-producing businesses. But they won't be cheering as grandly when they realize they have no place to work and no place to buy their alternative organic bean sprouts.

You ain't seen nothing yet, folks. The apocalypse is upon us, and it's not the sweetness-and-light Christian apocalypse; it's Cthulhu and the child-eating Aztec gods that are running the show now.

Things have yet to be made clear to the masses, but you have a great grasp of the situation.

that many people lose a job and the unemployment rate falls? It doesn't pass the smell test. I think Someone is cooking the numbers?

Shrub played with these numbers for eight years.
Fact is people are still losing their jobs, I have first-hand knowledge.

the stimulus is working is a bit premature.

Sorry about your 1st hand knowledge. I lost my job down under and was out of work for about 8 weeks this year. Hope you have the good luck that I have had in the last 3 months.

The metric the government uses to count the unemployed is very sophisticated, and it DOES include those that fell off the unemployment rolls, underemployed, and 'discouraged' workers.

You are quoting the number of those only reported under U3.

Google a little bit, you can educate yourself.

The U6 number is 16% unemployment.

They include everyone in the U6.

That is the number we should be looking at, it gives a more realistic view into what is actually going on in employment.

political math, so the cheerleaders can grab their pom poms while food lines get longer for the economically *disappeared*.

The total labor force is not a static number.

People retire, die, or just give up searching for employment, taking themselves out of the pool of total laborers.

New jobs, not so much.
Unemployment benefits expiring and those still unemployed dropped off the rolls as they no longer receive benefits? bingo!! Check the number of people getting food stamps...an all time record high of 34M !!! that's your economy. If you close your eyes real tight put your fingers in your ears and go lalalalalalal nice and loud you'll be OK and you won't notice the depression that will be unable to be hidden any longer in just a few months.

the 'slump' (if that's what we call a depression, these days) is nowhere near ending.

they base it on surveys.

so your hypothesis is wrong.

and i`m one of them. people are not officially counted if they are no longer in the system or working reduced hours.

public service workers are the next to go...

Partly wrong.

They're not counted if they're simply underemployed. So that's right.

As long as you're looking for work it doesn't matter if your benefits expired or not. So that's wrong.

But you aren't counted as unemployed when you stop looking for work. Enough people have stopped looking--400k or so, IIRC--that the unemployment rate dipped.

Now, the come back is, "But nobody talked to you." That's probably true (just looking at the numbers involved). It's also not terribly meaninngful. The survey is large enough to include people like you.

Of course it's all lies and deception.

Of course the reason why the #'s are reduced is because unemployment benefits have expired. With those reduced numbers come a loss of hope.

Of course the number of people on or applying for food stamps is at an all time high.

Don't forget to include the increase in people asking for help at food pantries and churches.

M$M proves itself to be negligent and irresponsible over and over again.


While they cheer and clap, We, The People weep and starve.

Sucka please!

Will help the Health Care debate move forward!!!

:bounce:

Why should shitty news like this shut ANYONE up?

The "slowdown" in the unemployment rate is due to the way it's calculated, and in any case are you really bouncing like
a little ball over a net loss in jobs?

I take it you're working. How nice for you.

I am actually struggling, and NO health Care for my family...This news will help overcome the argument that we can't afford anything right now becasue the economy is soooo bad...etc.

But still, the news is very very good...

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=6242583&mesg_id=6242616

Sorry, the economic news won't look good for another year or more. The real unemployment rate is around 17%, I think.

They were really starting to wrap the doom and gloom of the economy around Obama's neck...A positive uptick is going to blunt their argument.

Remember these are the "U3" numbers, which conveniently EXCLUDE unemployed people who don't get unemployment. the REAL unemployment rate is pushing 25%.

But still not 25%.

http://www.bls.gov/news.release/empsit.t12.htm

Source: Jeannine Aversa, AP Economics Writer

Job losses slow to 247,000; jobless rate dips

Employers cut just 247,000 jobs in July; jobless rate dips, strong signal recession ending

WASHINGTON (AP) -- Employers throttled back on layoffs in July, cutting just 247,000 jobs, the fewest in a year, and the unemployment rate dipped to 9.4 percent, its first decline in 15 months.

It was a better-than-expected showing that offered a strong signal that the recession is finally ending.

The new snapshot, released by the Labor Department on Friday, also offered other encouraging news: workers' hours nudged up after sinking to a record low in June, and paychecks grew after having fallen or flat lined in some cases.

To be sure, the report still indicates that the jobs market is on shaky ground. But the new figures were better than many analysts were expecting and offered welcomed improvements to a part of the economy that has been clobbered by the recession.



Read more: http://finance.yahoo.com/news/Job-losses-slow-to-247000-apf-3455968974.html?x=0&sec=topStories&pos=main&asset=&ccode=

Good day for others.

Wow. Just. Wow.

I will give them Credit where Credit is due.

They have completely Propagandized most of The Public into submission.

Sadly, I am impressed.

Don't you see the math? It works for the government. Trust them, they are right on everything.

All jest and lies. They'r just "fun'n ya" .

2. Job creation

4. Profit!

Christ, is this upside-down day or what?

A train shearing off one arm is better than two arms but it is not good news.

year. He was making $45,000 a year. In his new job, he'll make $11,000 a year. That's a 75% decrease from his last salary and a 25% decrease compared to his unemployment compensation. So, yeah, we're no longer unemployed but we might as well be.

for years without any access to unemployment compensation. Think about that.

I am cautiously optimistic.

The economy is rebounding, and will continue to in the coming months. This whole recession was caused by panic thanks to Shrubs speech almost a year ago. Yes, unemployment doesn't look spectacular, and it will take time, but these numbers are going to continue to drop.

just about anyone I know but to say the economy is rebounding is a little too much kool-aid for me.


What economy, the economy that lives on 70% consumption? That economy, may I suggest you do some reading, lots and lots of reading.

Maybe start here:
http://www.doctorhousingbubble.com/
http://www.denninger.net/
http://patrick.net/housing/crash.html
http://theautomaticearth.blogspot.com/
http://ml-implode.com/

It seems a segment of DUers get off on the idea of American society collapsing into shreds.

it seems as though things are getting better due to the administrations activity? right?

Christ I though I had you on Ignore.

Thanks for reminding me to double check.

Sorry to burst your bubble, but not willing to believe the Propaganda we've been fed for the past six months, questioning and countering it and demanding to know the real truth about what is going on is not "getting off on the suffering of society", or wishing for a depression.

This is a tired line of attack that is growing more pathetic by the day.



It would seem there is a segment of DU that consists of people who just want to feel good at any cost, and are willing to go along with ANYTHING the Media feeds them in order to feel good about a "Recovery" that obviously is NOT TAKING PLACE.

They seem to like to attack anyone who question the Propaganda Blitz of the past six months label anyone who doesn't believe in the Corporate Financial Media Line as someone who "wants the country, the economy, and Obama to fail."

It's getting tiresome.

There is nothing fundamental that has changed in the real economy. The Stock Market Bubble that has been engineered over the past few months is a manipulated joke that the majority of The Public has not even participated in. It is not sustainable.

Just like 03 to 08 it WILL collapse again. And then the Criminals who caused it will beg to be bailed out again at our expense so they can keep the Ponzi game going.

And I'm sure you'll fall to your knees and scream to let them have everything they want, just so you can feel good again, and pretend that They give a shit about you or the rest of We The People.

And that's what's REALLY Pathetic and Appalling.

Not to be a pessimist, but I can think of a lot of seasonal jobs that pop up in the summer: temp, low-paying, no benefits. Just having a job isn't enough--what kinds of jobs are they? It says the average pay is something insane like $18.50 an hour, but that's really very few jobs paying $40/hr mixed in with A LOT of minimum wage jobs. I'll be satisfied we're turning the corner on the depression (let's call it what it is) when really unemployment numbers are down to 9%, not the pretend 9% the headline touts, and when 90% of that real 9% make a living wage.

A friend of mine lost his good paying job. So he is now working two jobs, a full time day job, and part time in the evenings to make ends meet. And together, these two jobs together don't pay as much as the job he was laid off from. But it makes the employment numbers look just dandy.

to.

like my repuke acquaintances.

Hokay.

Do you know basic math?

Do you understand the concepts of less and more?

Less job loss = improvement over more job loss.

Are you clear now or should I draw you a picture?

When there is a net gain of jobs, it will be "improving."

Until then, the correct description is "unemployment is growing."

Here we have MORE people losing jobs. In my sphere of reality, that is never something to celebrate.

those that lost their jobs are calling it a depression

they do not reflect the ones who are no longer eligible for their payments, have been denied their payments, etc...false numbers imvoho!

Read this: http://www.shadowstats.com/article/employment

And the unemployment rate "dropped" to 9.4% even though a quarter million more people are out of work? More people out of work = lower unemployment?

Curious how those stats work, isn't it?

:eyes:

Who is going to afford to pay for home heating this winter ?

People will pray global warming is real when the winter solstice arrives imo

those purchases as "owner occupied" but that part of the housing "surge" will be covered over easily.

serious, unemployed can't purchase houses unless they are dealing with morons at the loaning institution..... Deja Vu ?

:sarcasm:

I would love to see this being covered by the MSM as much as the staged healthcare town hall protesters.

In order to stimulate our economy, we have to create jobs which will put money back into the economy. This could be accomplished by spending the stimulus money to bring outsourced jobs back to America. We are only as strong as our people's ability to sustain ourselves. More lost and outsourced jobs means less money to spend, less money to make our economy strong once more.