good news on jobs

H

hornpharmd

5,000+ Posts
money.cnn.com/2012/02/03/news/economy/jobs_report_unemployment/index.htm?hpt=hp_t1

- 5th month in a row that unemployment rate has dropped (now 8.3%)
- manufacturing added 50,000 jobs in January and accounted for 14% of jobs added in last 13 months
- jobs losses continue to be seen at the state and local level of government (this has to be a good thing, yes?)
- 5 states remain with UE over 10% (Nevada, CA, RI, DC, Miss)
- 9 states remain with UE between 9 and 10% (Florida, NC, Illinois, GA, SC, Michigan, Kentucky, Indiana, NJ)



Don't have time right now to dig further, but the growth in jobs and the economy here in the US continues to be positive. The trend is upward and that is a good trend.
 
It is an election year now. I expect that most of the economic news released to be positive.

Is there a good, independent, non-governmental source for such information?
 
An unprecedented record setting 1.2 million dropped out of the labor force.
The civilian labor force is the lowest in 30 years

All the data needs to be looked at in toto but of course media and bo supporters won't..
 
Awesome news.....1.2 million people exited the workforce. We have the largest non participation number since 1981. Go team go.....
 
Right on cue.

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Nobody is saying we are out of the woods, but hopefully things are moving in the right direction.
 
I think the numbers are being played with. 1.2 million people dropped out of the labor force in one month. Basically, the civillian labor force is at its lowest point in 30 years at 63.7%. Even the CBO came out the other day and said the real unemployment rate is over 10%.
 
Hey I hope it is good news for the country and the economy is truly on a rebound. Folks have had a really hard time the last few years. The market seems to be reacting positively, so I guess they believe the data. I just have to say I don't particularly trust reports coming from the government right now. I'd love a good source for truly independent and useful information.
 
The unemployment rate has always been a somewhat bogus statistic because it doesn't include those who have stopped looking for work. However, if the aggregate number of jobs has gone up, as the 50,000 figure suggests, that suggests that there has been a real improvement, which is obviously a good thing.
 
It’s a miracle! Actually, it’s a Campaign 2012 miracle!
The BLS reports that almost 2.7 million jobs were lost in January (Please read that again) but BLS adjusted this to an increase of 243,000!!!

If you lose your job and this forces you and your spouse to take much lower paying temp gigs, this is good news because your household just created one net job!...Keep your eye on payroll taxes!!!!

Furthermore, the surge in January NFP makes the Fed look like a bunch of idiots. Recently the Fed issued an implicitly dire economic forecast that compelled most voting members to assert that the US economy looks so gloomy that they see no prospect of lifting the ZIRP for three years!

You know who else looks like complete idiots? Wall Street chiefs that have fired thousands of workers.

And how about all the economists that have revised Q1 GDP forecasts to sub -2% growth?!

Welcome to Campaign 2012!
 
The increase in manufacturing jobs and the decrease in government employment are indeed good news. The good news is tempered by the number (a) still unemployed, (b) underemployed, and (c) wanting to work, but given up looking. There is still a long way to go to get back to "full employment" (whatever that is).

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93?
pay Attention
the largest number EVER (1.2 -1.5 <illiom) dropped from the labor force.
That is a high number as I think even you would agree
The size of the work force is the LOWEST it has been in 30 years.
Even you can see that is not a good number.

yes adding jobs is good and we all think that is good but anyone would be stupid to single that number out and pretend a job recovery is underway.
 
mich? You think the number of 1.2-1.5 Million being dropped from the labor force is a good number?
That is what I asked 93.
as i posted and others also posted adding jobs is a GOOD thing.
Some have questioned the validity of the numbers. For instance Congressman Allen West 'marvels" at the decline rate in unemployment for blacks.

from link
"In response to news that the overall unemployment rate had dropped to 8.3 percent and the unemployment rate in the black community declined from 15.8 percent to 13.6 percent, West floated the possibility that the numbers might have been cooked.
Economists reached by The Hill for comment couldn't fully explain the unemployment rate change for the black community. William Darity, a professor of public policy at Duke University specializing in African-American studies and economics, wrote in an email to The Hill that the decline could have been due to a smaller labor force. He called the drop an "unbelievably dramatic drop" but didn't rule out the possibility of someone tampering with the numbers; he said there was no evidence one way or the other.

"If a large proportion of the persons exiting from the labor force were black (and the exists [sic] presumably were due to people giving up on looking for work) that could drop the black [unemployment] rate without any significant new employment," Darity wrote. "But a one month drop in the black unemployment rate from 15.8% to 13.6% strikes me as somewhat unprecedented."http://thehill.com/blogs/blog-briefing-room/news/208613-rep-west-responds-to-jobs-report-someone-messing-with-census-numbers

If the drop is due to black people dropping out of the work force how are they living and what happens when they reenter the work force?

Bloomberg reported that nearly half of the jobs created were low paying jobs, Remember when Dems bashed low paying jobs>
 
I posted at one point that more people have left the workforce in Obama's first two years than in the entire Bush administration. Oddly enough, nobody really wanted to talk about that.
 
Ahh Roger, the poster boy for completely oblivious liberal posters everywhere. Thank goodness you were here to add an empty talking point to an actual discussion about the economy. I really have a better grasp of the situation now...
 
After reading and posting Allen West's skepticism on the unprecedented drop in one month for black unemployment I went to the BLS chart

I admit i may not be reading it right but does it look like the civilan non institutional population decreased for whites but increased for blacks? ( some of that might be Census adjustment. people who thought they wre white realized they were really black. didn't i see a movie about that ?

and did the total number white employed decrease from Dec -kan but the total employed for blacks increased by a large amount?
That is a good thing for blacks but I can see why West has questions.
If I am reading it right that is a HUGE jump for one month especially for january>
It looks like all the whites who got hired in Nov-Dec and part of Oct got fired in jan.The Link

I admit I may be reading this wrong and look for someone to explain it if I am
 
This is probably a larger trend than we're seeing here, but don't ya'll think the labor participation rate will stay low for the next couple decades because baby boomers retiring? Also, couldn't the recent drops be the start of this as baby boomers retire early due to the economic situation?
 
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