Author Topic: Umemployment Rate Falls to 8.3%. Other Economic Data Rocking As Well (Read 1711 times)

blacken700 · « **on:** February 03, 2012, 08:01:24 AM »

Feb. 3, 2012

(CNNMoney) -- American employers substantially stepped up their hiring in January, bringing the unemployment rate down for the fifth month in a row.

Employers added 243,000 jobs in January, the Labor Department reported Friday, marking a pick-up in hiring from December, when the economy added 203,000 jobs.

Meanwhile, the unemployment rate fell to 8.3%. That is the lowest since February 2009.

Job growth was much stronger than expected. Economists surveyed by CNNMoney had forecast 130,000 jobs added in the month, and that the unemployment rate likely ticked up to 8.6%.

read: http://money.cnn.com/2012/02/03/news/economy/jobs_report_unemployment/

Manufacturing growth fastest since June; construction spending up for 5th straight month

U.S. factories grew in January at the fastest pace in seven months, boosted by a rise in new orders. And builders ended a poor year for construction by spending more on homes and projects for the fifth straight month.

The Institute for Supply Management, a trade group of purchasing managers, said Wednesday that its manufacturing index rose last month to 54.1 from 53.1 in December. Readings above 50 indicate expansion.

Consumers are buying more cars and trucks, while businesses ordered more machinery and other equipment. That has driven manufacturing, which expanded for the 30th straight month.

Both new orders and order backlogs rose to nine-month highs. Increasing order backlogs suggest manufacturers are lacking the capacity to meet demand. That could mean more growth in production and employment in the near future, economists said.

Export orders also rose, a sign that U.S. manufacturers haven’t yet been affected by Europe’s slowing economy . . .

read more: http://www.washingtonpost.com/politics/manufacturing-grows-at-fastest-pace-in-7-months-as-new-orders-rise-employment-dips/2012/02/01/gIQA32BfhQ_print.html

Job market conditions improved in the United States in January as Gallup's U.S. Job Creation Index reached +16, its highest point since September 2008.

Soul Crusher · « **Reply #1 on:** February 03, 2012, 08:03:36 AM »

Final Nail In Today's NFP Tragicomedy: Record Surge In Part-Time Workers
Submitted by Tyler Durden on 02/03/2012 10:52 -0500

It appears the record surge in people not in the labor force is not the only outlier in today's data. For the other one we go to the Household Data Survey (Table 9), and specifically the breakdown between Full Time and Part Time Workers (defined as those "who usually work less than 35 hours per week"). We won't spend too much time on it, as it is self-explanatory. In January, the number of Part Time workers rose by 699K, the most ever, from 27,040K to 27,739K, the third highest number in the history of this series. How about Full time jobs? They went from 113,765 to 113,845. An 80K increase. So the epic January number of 141.6 million employed, which rose by 847K at the headline level: only about 10 % of that was full time jobs: surely an indicator of the resurgent US economy... in which employers can't even afford to give their workers full time employee benefits. We can't wait for Mr. Liesman to explain how this number, too, is unadulterated hogwash, and how it too is explained away to confirm economic strength.

Soul Crusher · « **Reply #2 on:** February 03, 2012, 08:05:04 AM »

Implied Unemployment Rate Rises To 11.5%, Spread To Propaganda Number Surges To 30 Year High
Submitted by Tyler Durden on 02/03/2012 09:35 -0500

BLS Bureau of Labor Statistics Real Unemployment Rate Unemployment

Sick of the BLS propaganda? Then do the following calculation with us: using BLS data, the US civilian non-institutional population was 242,269 in January, an increase of 1.7 million month over month: apply the long-term average labor force participation rate of 65.8% to this number (because as chart 2 below shows, people are not retiring as the popular propaganda goes: in fact labor participation in those aged 55 and over has been soaring as more and more old people have to work overtime, forget retiring), and you get 159.4 million: that is what the real labor force should be. The BLS reported one? 154.4 million: a tiny 5 million difference. Then add these people who the BLS is purposefully ignoring yet who most certainly are in dire need of labor and/or a job to the 12.758 million reported unemployed by the BLS and you get 17.776 million in real unemployed workers. What does this mean? That using just the BLS denominator in calculating the unemployed rate of 154.4 million, the real unemployment rate actually rose in January to 11.5%. Compare that with the BLS reported decline from 8.5% to 8.3%. It also means that the spread between the reported and implied unemployment rate just soared to a fresh 30 year high of 3.2%. And that is how with a calculator and just one minute of math, one strips away countless hours of BLS propaganda.

Difference between Reported and Implied Unemployment Rate

And why the Labor Force Participation rate is not declining due to retirement.

howardroark · « **Reply #3 on:** February 03, 2012, 08:09:01 AM »

Why the unemployment rate is falling:

Unemployed workers are being defined out of existence. At this rate we'll have 0% unemployment soon.

Soul Crusher · « **Reply #4 on:** February 03, 2012, 08:09:53 AM »

Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles

To Fresh 30 Year Low

Submitted by Tyler Durden on 02/03/2012 08:51 -0500

A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in the labor force surged from 86.7 million to 87.9 million. Which means that the civilian labor force tumbled to a fresh 30 year low of 63.7% as the BLS is seriously planning on eliminating nearly half of the available labor pool from the unemployment calculation. As for the quality of jobs, as withholding taxes roll over Year over year, it can only mean that the US is replacing high paying FIRE jobs with low paying construction and manufacturing. So much for the improvement.

Chart below shows it all - that jump is not a fat finger!

blacken700 · « **Reply #5 on:** February 03, 2012, 08:27:19 AM »

Hiring accelerated across the economy and up and down the pay scale. The high-salary professional services industry added 70,000 jobs, the most in 10 months. Manufacturing added 50,000, the most in a year.

shootfighter1 · « **Reply #6 on:** February 03, 2012, 08:30:16 AM »

Better than expected #, agree but definitely more part time positions so # is not as rosy as it seems...and so many stopped looking over the past 24months.

Soul Crusher · « **Reply #7 on:** February 03, 2012, 08:58:18 AM »

http://video.cnbc.com/gallery/?video=3000071275

Boom. Santelli nails it.

Soul Crusher · « **Reply #8 on:** February 03, 2012, 08:59:33 AM »

El-Erian Pours Cold Water On Today's Jobs Report
Mamta Badkar | 46 minutes ago | 2,076 | 14
A A A
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AP Images

PIMCO's Mohamed El-Erian told Bloomberg TV that we need to look beyond the headline numbers:

Today's is a strong report. We should welcome job creation of 243,000. We should welcome an unemployment rate at 8.3 percent. The qualifier—and its an important one—is let's not also forget the numbers outside these headlines. And there are two in particular that I look at.

Long-term unemployment, those who have been unemployed for 27-weeks or longer, that is stuck, stubbornly stuck at 5.5 million again. And second, youth unemployment—unemployment among the 16 - 19 year olds, that is stuck again at 23 percent. So, we should welcome the headline numbers, they are really good, but we should not lose sight that we have structural issues that are not being dealt with. And that's going to be the question mark. Is this just a cyclical bounce or can this hand off into a secular bounce which the economy needs?

Earlier, PIMCO's Bill Gross said this jobs report would lead to a a "risk-on type trade." El-Erian reiterated that point, saying this was a short-term risk on trade. He said he doesn't expect the Fed to change its policy stance, and added, "It is a good cyclical story, but the structural and secular story remains worrisome."

Watch the entire interview at Bloomberg TV:

Read more: http://www.businessinsider.com/el-erian-pours-cold-water-on-todays-jobs-report-2012-2#ixzz1lL4vsUxc

howardroark · « **Reply #9 on:** February 03, 2012, 09:09:26 AM »

Quote from: blacken700 on February 03, 2012, 08:27:19 AM

Hiring accelerated across the economy and up and down the pay scale. The high-salary professional services industry added 70,000 jobs, the most in 10 months. Manufacturing added 50,000, the most in a year.

You get PWNED and all you can come back with is more propaganda numbers? Please.

Soul Crusher · « **Reply #10 on:** February 03, 2012, 09:13:57 AM »

Quote from: howardroark on February 03, 2012, 09:09:26 AM

You get PWNED and all you can come back with is more propaganda numbers? Please.

Blackass is a dyed in the wool marxist obamabot.

tu_holmes · « **Reply #11 on:** February 03, 2012, 09:17:20 AM »

Quote from: howardroark on February 03, 2012, 08:09:01 AM

Why the unemployment rate is falling:

Unemployed workers are being defined out of existence. At this rate we'll have 0% unemployment soon.

It's always been that way.

Total lies from the government.

tonymctones · « **Reply #12 on:** February 03, 2012, 10:01:53 AM »

Quote from: shootfighter1 on February 03, 2012, 08:30:16 AM

Better than expected #, agree but definitely more part time positions so # is not as rosy as it seems...and so many stopped looking over the past 24months.

And what happens if obamacare stays and companies are forced to add up part time hours and pay the penalty like they had the equivalent number of full time workers by hours?

Lol blackass I thought you didn't like obama?

howardroark · « **Reply #13 on:** February 03, 2012, 10:17:13 AM »

Every thread Andre or blacken start gets pwned like there's no tomorrow. Why do they even try?

Fury · « **Reply #14 on:** February 03, 2012, 10:38:58 AM »

Quote from: howardroark on February 03, 2012, 10:17:13 AM

Every thread Andre or blacken start gets pwned like there's no tomorrow. Why do they even try?

They're pathetic, pathetic people.

blacken700 · « **Reply #15 on:** February 03, 2012, 10:56:10 AM »

http://www.google.com/url?q=http://video.foxbusiness.com/v/1430777897001/unemployment-rate-falls-to-83/%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Bfoxbusiness%252Fvideo%2B(Internal%2B-%2BVideo%2B-%2BVideo)&sa=U&ei=0ywsT_naAor30gHYi6y9Cg&ved=0CCQQFjAFOAo&usg=AFQjCNFC8vohFWFj5B1GOjbZZ6smGXyolQ

blacken700 · « **Reply #16 on:** February 03, 2012, 10:58:24 AM »

Good News: Unemployment Falls to 8.3% as U.S. Adds 243,000 Jobs
By Sam Gustin | @samgustin | February 3, 2012 | 7inShare.5
Getty ImagesThe U.S. labor market continued to add new jobs in January, pushing the unemployment rate to the lowest level in nearly three years, in a sign that the economy is recovering from the worst recession in decades. The Bureau of Labor Statistics said January’s unemployment rate fell to 8.3% from 8.5% in December as the economy added 243,000 jobs, a much better result than the 125,000 to 150,000 jobs that many analysts had been expecting.

The overall trend trend in the report pointed to strengthening momentum in the U.S. economy. The number of unemployed persons fell to 12.8 million, the lowest number since February 2009, which was President Obama’s first full month in office. Professional and business services added 70,000 job, while the manufacturing sector increased by 50,000. The construction sector, meanwhile, added 21,000 new jobs.

“This is the strongest jobs report seen through the entire recovery,” Justin Wolfers, an economist at the University of Pennsylvania, wrote in a Twitter message. “It’s rare that all indicators point so strongly in the same direction.”

A broader measure of unemployment, the so-called U-6 figure, which includes those with part-time jobs, fell to 15.1%, down one-tenth of a point. Even the Labor Dept.’s revisions for previous months contained good news. November’s job growth was revised from 100,000 to 157,000, while December’s figure increased from 200,000 to 203,000.

The better-than-expected results came even as the number of government jobs declined by 14,000. The strong data is sure to be welcomed by the White House, which hopes that a strengthening economy boosts President Obama’s re-election hopes.

Despite the good news, the economy has a long way to go before it reaches a full recovery. Some 12.8 million people are still out of work, and the unemployment rate of 8.3% is nearly twice what’s considered healthy. But the data suggests the labor picture continues to move in the right direction.

The positive jobs data propelled stock futures higher before the opening bell of trading Friday.

Read more: http://business.time.com/2012/02/03/good-news-unemployment-falls-to-8-3-as-u-s-adds-243000-jobs/#ixzz1lLYl3qFb

Soul Crusher · « **Reply #17 on:** February 03, 2012, 01:13:05 PM »

http://theeconomiccollapseblog.com/archives/if-the-economy-is-improving

If the economy is getting better, then why did new home sales in the United States hit a brand new all-time record low during 2011?

If the economy is getting better, then why are there 6 million less jobs in America today than there were before the recession started?

If the economy is getting better, then why is the average duration of unemployment in this country close to an all-time record high?

If the economy is getting better, then why has the number of homeless female veterans more than doubled?

If the economy is getting better, then why has the number of Americans on food stamps increased by 3 million since this time last year and by more than 14 million since Barack Obama entered the White House?

If the economy is getting better, then why has the number of children living in poverty in America risen for four years in a row?

If the economy is getting better, then why is the percentage of Americans living in “extreme poverty” at an all-time high?

If the economy is getting better, then why is the Federal Housing Administration on the verge of a financial collapse?

If the economy is getting better, then why do only 23 percent of American companies plan to hire more employees in 2012?

If the economy is getting better, then why has the number of self-employed Americans fallen by more than 2 million since 2006?

If the economy is getting better, then why did an all-time record low percentage of U.S. teens have a job last summer?

If the economy is getting better, then why does median household income keep declining? Overall, median household income in the United States has declined by a total of 6.8% since December 2007 once you account for inflation.

If the economy is getting better, then why has the number of Americans living below the poverty line increased by 10 million since 2006?

If the economy is getting better, then why is the average age of a vehicle in America now sitting at an all-time high?

If the economy is getting better, then why are 18 percent of all homes in the state of Florida currently sitting vacant?

If the economy is getting better, then why are 19 percent of all American men between the ages of 25 and 34 living with their parents?

If the economy is getting better, then why does the number of “long-term unemployed workers” stay so high? When Barack Obama first took office, the number of “long-term unemployed workers” in the United States was approximately 2.6 million. Today, that number is sitting at 5.6 million.

tu_holmes · « **Reply #18 on:** February 03, 2012, 04:42:10 PM »

The only problem I have is pointing out comparisons when compared to "Took office".

That is a bullshit statement. The economy was on a downward slide that had started before he took office and was getting worse.

Remember, in 2009 the Dow was at 6700... It's almost double that now.

That's a positive thing (not huge).

I have no issue with hating Obamas policies... He's pissed me off with some of them as well and not doing other things he's said he would do, but I absolutely HATE comparisons to "when he took office".

If ANYONE had taken office at that time, it would still have gotten worse... The economy is a ship... a big one... and it takes a lot of time to turn it.

That's all I'm saying.

Soul Crusher · « **Reply #19 on:** February 03, 2012, 05:13:05 PM »

http://p.washingtontimes.com/news/2012/feb/3/obamas-bogus-jobs-data

Soul Crusher · « **Reply #20 on:** February 03, 2012, 05:31:51 PM »

http://market-ticker.org/akcs-www?post=201459

Wow. Ere is the real data, unspun by the Marxist in chief.

tonymctones · « **Reply #21 on:** February 03, 2012, 05:36:12 PM »

Quote from: tu_holmes on February 03, 2012, 04:42:10 PM

The only problem I have is pointing out comparisons when compared to "Took office".

That is a bullshit statement. The economy was on a downward slide that had started before he took office and was getting worse.

Remember, in 2009 the Dow was at 6700... It's almost double that now.

That's a positive thing (not huge).

I have no issue with hating Obamas policies... He's pissed me off with some of them as well and not doing other things he's said he would do, but I absolutely HATE comparisons to "when he took office".

If ANYONE had taken office at that time, it would still have gotten worse... The economy is a ship... a big one... and it takes a lot of time to turn it.

That's all I'm saying.

I dont think anybody is saying the economy wasnt in bad shape when obama took office tu. The problem is obama has actively worked to make it worse or prevent it from improving.

Soul Crusher · « **Reply #22 on:** February 03, 2012, 05:39:24 PM »

Quote from: tonymctones on February 03, 2012, 05:36:12 PM

I dont think anybody is saying the economy wasnt in bad shape when obama took office tu. The problem is obama has actively worked to make it worse or prevent it from improving.

Ad he has spent 5 trillion dollars getting this result!

tu_holmes · « **Reply #23 on:** February 03, 2012, 05:58:34 PM »

Quote from: tonymctones on February 03, 2012, 05:36:12 PM

I dont think anybody is saying the economy wasnt in bad shape when obama took office tu. The problem is obama has actively worked to make it worse or prevent it from improving.

I don't know if I agree that he is actively making it worse or preventing it from improving.

A majority of economists believed the stimulus was the right thing to do... I don't know if I agree, but I'm not an economist.

Soul Crusher · « **Reply #24 on:** February 03, 2012, 06:04:49 PM »

Quote from: tu_holmes on February 03, 2012, 05:58:34 PM

I don't know if I agree that he is actively making it worse or preventing it from improving.

A majority of economists believed the stimulus was the right thing to do... I don't know if I agree, but I'm not an economist.

Majority of Keynesian economists. You can't ignore the debt and deficit and devalued dollar we have as a result of this.