Onnidan Fan Forum

Discussion => Politics => Topic started by: CIAA-FAN on January 07, 2011, 02:41:14 PM

Title: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: CIAA-FAN on January 07, 2011, 02:41:14 PM
WE OBVIOUSLY HAVE A WAYS TO GO TO GET OUT OF THE MESS INHERITED BY THE PRESIDENT, BUT THE EVIDENCE INDICATING THE WORSE MAY BEHIND US IS CLEAR AND EVIDENT.   THANKS FOR YOUR LEADERSHIP MR. PRESIDENT.  :clap:


Unemployment drops sharply to 9.4%
By Neil Irwin
Washington Post Staff Writer
Friday, January 7, 2011; 12:15 PM

The unemployment rate plummeted in December, as more Americans indicated they were working, according to a government report released Friday that offers new confirmation that the economy is clawing its way out of the deep downturn.

The unemployment rate was 9.4 percent, the Labor Department said, down from 9.8 percent in November, as 297,000 more people said they had found jobs. That surprising drop - which was far better than the modest step-down economists had forecast - was the steepest one-month fall since 1998 and the lowest unemployment rate in 19 months.

But the improvement came despite a weaker-than-expected report from employers on job creation. Employers said they created only 103,000 jobs, according to a separate survey, which was less than the 150,000 that economists had expected and below the 125,000 or so needed to keep pace with a growing population over time.

Taken together, the two numbers offer a muddled but generally positive portrait of the job market: one in which employers continue creating jobs, though at a modest pace, while Americans are feeling more confident about the job market.

That conforms to other recent data showing a solid improvement in the job market as 2010 ended. The number of people filing new claims for unemployment insurance benefits has fallen steadily, hitting its lowest level in more than two years in late December, and a separate report by payroll processing firm ADP this week showed strong December job creation.

"We know these numbers can bounce around from month to month, but the trend is clear," President Obama said Friday morning. "We saw 12 straight months of private sector job growth. That's the first time that's been true since 2006."
Republicans welcomed the new jobs and the decline in unemployment, but continued to blame the White House for the high rate of joblessness, rather than give it credit for the recovery

"The cumulative effect of the policies championed by President Obama and Congressional Democrats allowed 2010 to end right where it began - with unemployment remaining well above 9 percent," Republican National Committee chairman Michael Steele said in a statement.

He said Democrats must "continue working with Republicans to reduce spending and promote a pro-growth, free market agenda."

In general, the survey of businesses and other employers offers a more reliable gauge of how the job market is doing month-to-month than the survey of households on which the unemployment rate is based, which uses a smaller sample. In December, the two numbers are offering conflicting signals: of middling job growth if employers are to be believed, or sharp improvement if the ordinary American households are to be believed.

Although that conflict offers a conundrum for economists, the households survey sometimes offers a more complete picture of Americans' economic experiences at turning points, as it can better capture the numbers of people who are self-employed or working off the official books.

The fall in the unemployment rate was driven by two factors of roughly equal scale: Some 260,000 people dropped out of the labor force entirely, while 297,000 more people reported themselves to be employed.

The decrease was seen across all of groups: men and women, blacks and whites, those with little education and those who have been to college. The lone exception was teenagers, among whom the jobless rate rose 0.9 percentage points to 25.4 percent.

The 103,000 new jobs reported by employers was driven most dramatically by the leisure and hospitality sector. Hotels, restaurants and the like added 47,000 jobs. Retailers added 12,000 positions, and manufacturers added 10,000.

The sectors that shed the most jobs were local governments, which cut 20,000 positions, and construction, which shed 16,000 positions, and associations and organizations, which cut 15,000 jobs.

"The overall trend of economic data over the past several months has been encouraging ... but we still have a ways to go," Council of Economic Advisers Chairman Austan Goolsbee said in a statement. He said the Obama administration will "continue to focus on actions ... to increase growth and job creation, such as providing incentives to encourage businesses to invest and hire here at home, investing in education and infrastructure, and promoting exports abroad."


Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: soflorattler on January 07, 2011, 02:43:23 PM
(http://blog.ecosmart.com/wp-content/crickets.jpg)
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: oldsport on January 07, 2011, 02:52:09 PM
WE OBVIOUSLY HAVE A WAYS TO GO TO GET OUT OF THE MESS INHERITED BY THE PRESIDENT, BUT THE EVIDENCE INDICATING THE WORSE MAY BEHIND US IS CLEAR AND EVIDENT.   THANKS FOR YOUR LEADERSHIP MR. PRESIDENT.  :clap:


Unemployment drops sharply to 9.4%
By Neil Irwin
Washington Post Staff Writer
Friday, January 7, 2011; 12:15 PM

The unemployment rate plummeted in December, as more Americans indicated they were working, according to a government report released Friday that offers new confirmation that the economy is clawing its way out of the deep downturn.

The unemployment rate was 9.4 percent, the Labor Department said, down from 9.8 percent in November, as 297,000 more people said they had found jobs. That surprising drop - which was far better than the modest step-down economists had forecast - was the steepest one-month fall since 1998 and the lowest unemployment rate in 19 months.

But the improvement came despite a weaker-than-expected report from employers on job creation. Employers said they created only 103,000 jobs, according to a separate survey, which was less than the 150,000 that economists had expected and below the 125,000 or so needed to keep pace with a growing population over time.

Taken together, the two numbers offer a muddled but generally positive portrait of the job market: one in which employers continue creating jobs, though at a modest pace, while Americans are feeling more confident about the job market.

That conforms to other recent data showing a solid improvement in the job market as 2010 ended. The number of people filing new claims for unemployment insurance benefits has fallen steadily, hitting its lowest level in more than two years in late December, and a separate report by payroll processing firm ADP this week showed strong December job creation.

"We know these numbers can bounce around from month to month, but the trend is clear," President Obama said Friday morning. "We saw 12 straight months of private sector job growth. That's the first time that's been true since 2006."
Republicans welcomed the new jobs and the decline in unemployment, but continued to blame the White House for the high rate of joblessness, rather than give it credit for the recovery

"The cumulative effect of the policies championed by President Obama and Congressional Democrats allowed 2010 to end right where it began - with unemployment remaining well above 9 percent," Republican National Committee chairman Michael Steele said in a statement.

He said Democrats must "continue working with Republicans to reduce spending and promote a pro-growth, free market agenda."

In general, the survey of businesses and other employers offers a more reliable gauge of how the job market is doing month-to-month than the survey of households on which the unemployment rate is based, which uses a smaller sample. In December, the two numbers are offering conflicting signals: of middling job growth if employers are to be believed, or sharp improvement if the ordinary American households are to be believed.

Although that conflict offers a conundrum for economists, the households survey sometimes offers a more complete picture of Americans' economic experiences at turning points, as it can better capture the numbers of people who are self-employed or working off the official books.

The fall in the unemployment rate was driven by two factors of roughly equal scale: Some 260,000 people dropped out of the labor force entirely, while 297,000 more people reported themselves to be employed.

The decrease was seen across all of groups: men and women, blacks and whites, those with little education and those who have been to college. The lone exception was teenagers, among whom the jobless rate rose 0.9 percentage points to 25.4 percent.

The 103,000 new jobs reported by employers was driven most dramatically by the leisure and hospitality sector. Hotels, restaurants and the like added 47,000 jobs. Retailers added 12,000 positions, and manufacturers added 10,000.

The sectors that shed the most jobs were local governments, which cut 20,000 positions, and construction, which shed 16,000 positions, and associations and organizations, which cut 15,000 jobs.

"The overall trend of economic data over the past several months has been encouraging ... but we still have a ways to go," Council of Economic Advisers Chairman Austan Goolsbee said in a statement. He said the Obama administration will "continue to focus on actions ... to increase growth and job creation, such as providing incentives to encourage businesses to invest and hire here at home, investing in education and infrastructure, and promoting exports abroad."




Col. Klink, I already addressed this....However, some a-- deleted my thread.
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: soflorattler on January 07, 2011, 02:54:04 PM
WE OBVIOUSLY HAVE A WAYS TO GO TO GET OUT OF THE MESS INHERITED BY THE PRESIDENT, BUT THE EVIDENCE INDICATING THE WORSE MAY BEHIND US IS CLEAR AND EVIDENT.   THANKS FOR YOUR LEADERSHIP MR. PRESIDENT.  :clap:


Unemployment drops sharply to 9.4%
By Neil Irwin
Washington Post Staff Writer
Friday, January 7, 2011; 12:15 PM

The unemployment rate plummeted in December, as more Americans indicated they were working, according to a government report released Friday that offers new confirmation that the economy is clawing its way out of the deep downturn.

The unemployment rate was 9.4 percent, the Labor Department said, down from 9.8 percent in November, as 297,000 more people said they had found jobs. That surprising drop - which was far better than the modest step-down economists had forecast - was the steepest one-month fall since 1998 and the lowest unemployment rate in 19 months.

But the improvement came despite a weaker-than-expected report from employers on job creation. Employers said they created only 103,000 jobs, according to a separate survey, which was less than the 150,000 that economists had expected and below the 125,000 or so needed to keep pace with a growing population over time.

Taken together, the two numbers offer a muddled but generally positive portrait of the job market: one in which employers continue creating jobs, though at a modest pace, while Americans are feeling more confident about the job market.

That conforms to other recent data showing a solid improvement in the job market as 2010 ended. The number of people filing new claims for unemployment insurance benefits has fallen steadily, hitting its lowest level in more than two years in late December, and a separate report by payroll processing firm ADP this week showed strong December job creation.

"We know these numbers can bounce around from month to month, but the trend is clear," President Obama said Friday morning. "We saw 12 straight months of private sector job growth. That's the first time that's been true since 2006."
Republicans welcomed the new jobs and the decline in unemployment, but continued to blame the White House for the high rate of joblessness, rather than give it credit for the recovery

"The cumulative effect of the policies championed by President Obama and Congressional Democrats allowed 2010 to end right where it began - with unemployment remaining well above 9 percent," Republican National Committee chairman Michael Steele said in a statement.

He said Democrats must "continue working with Republicans to reduce spending and promote a pro-growth, free market agenda."

In general, the survey of businesses and other employers offers a more reliable gauge of how the job market is doing month-to-month than the survey of households on which the unemployment rate is based, which uses a smaller sample. In December, the two numbers are offering conflicting signals: of middling job growth if employers are to be believed, or sharp improvement if the ordinary American households are to be believed.

Although that conflict offers a conundrum for economists, the households survey sometimes offers a more complete picture of Americans' economic experiences at turning points, as it can better capture the numbers of people who are self-employed or working off the official books.

The fall in the unemployment rate was driven by two factors of roughly equal scale: Some 260,000 people dropped out of the labor force entirely, while 297,000 more people reported themselves to be employed.

The decrease was seen across all of groups: men and women, blacks and whites, those with little education and those who have been to college. The lone exception was teenagers, among whom the jobless rate rose 0.9 percentage points to 25.4 percent.

The 103,000 new jobs reported by employers was driven most dramatically by the leisure and hospitality sector. Hotels, restaurants and the like added 47,000 jobs. Retailers added 12,000 positions, and manufacturers added 10,000.

The sectors that shed the most jobs were local governments, which cut 20,000 positions, and construction, which shed 16,000 positions, and associations and organizations, which cut 15,000 jobs.

"The overall trend of economic data over the past several months has been encouraging ... but we still have a ways to go," Council of Economic Advisers Chairman Austan Goolsbee said in a statement. He said the Obama administration will "continue to focus on actions ... to increase growth and job creation, such as providing incentives to encourage businesses to invest and hire here at home, investing in education and infrastructure, and promoting exports abroad."




Col. Klink, I already addressed this....However, some a-- deleted my thread.

Maybe you only THOUGHT you posted a thread. The second thing to go. It's that age thing, you know.

 :tiptoe:
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: uchighlander on January 07, 2011, 03:20:39 PM
Unlike you Obama fans....I'm not going to take a SMALL bit of good news and shout it out to the montain tops. It could have been....and probably was all the temps hired over the holidays. If this trend continues...great! By the way....please explain why unemployment went up the previous 11 months if what Obama said is true....the private sector grew for 12 months? Your lips are moving Mr. President. GO VIKINGS!!!
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: Ken on January 07, 2011, 03:23:32 PM
According to some economists and I must admit  Iam not one, when the economy picks up the unemployment rate may go even higher for a spell, because with a brighter employment outlook, more people will be looking for work.
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: uchighlander on January 07, 2011, 03:31:03 PM
According to some economists and I must admit  Iam not one, when the economy picks up the unemployment rate may go even higher for a spell, because with a brighter employment outlook, more people will be looking for work.
Then I guess that means if a person isn't looking for work....he isn't unemployed? Yup.....that sounds like the government way of doing things.  GO VIKINGS!!!
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: Ken on January 07, 2011, 03:39:06 PM
Well not really.  What is means is that some times the economy is so bad some people give up trying to find employement.  So if they don't apply for work they are not counted in the statistics.  With a brighter employment picture, these people will now apply for employment along with others.
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: westcoastaggie on January 07, 2011, 03:44:58 PM
I am personally cautiously optimistic about this data. We have to wait to see How many of the jobs that were gained from Sept - Dec were temporary Holiday Season positions and how the Employment Outlook will look in Jan & Feb.

I am also concerned about the world's demand for oil driving oil barrel prices near $100. If we see prices go anywhere near Spring/Summer 2008 levels, we may likely be in the middle of a double dip recession.
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: MisterIkester on January 07, 2011, 05:00:00 PM
It's a start, but we still have a long way to go.
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: CIAA-FAN on January 07, 2011, 05:19:05 PM
Unlike you Obama fans....I'm not going to take a SMALL bit of good news and shout it out to the montain tops. It could have been....and probably was all the temps hired over the holidays. If this trend continues...great! By the way....please explain why unemployment went up the previous 11 months if what Obama said is true....the private sector grew for 12 months? Your lips are moving Mr. President. GO VIKINGS!!!

NO ONE (AT LEAST NOT I) REALLY EXPECTED YOU OR YOUR A--HOLE SYNCOPANT TO SEE ANYTHING POSITIVE, EVER, REPEAT EVER IN ANYTHING THE  PRESIDENT DOES.  ...AND THAT IS OK AND IS YOUR RIGHT, THAT NO ONE DENIES YOU.

...AND LET ME SUGGEST YOU DO YOUR OWN RESEARCH ON WHICH DIRECTION TOTAL UNEMPLOYMENT WENT IN THE PAST 12 MONTHS.
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: uchighlander on January 07, 2011, 05:33:46 PM
Unlike you Obama fans....I'm not going to take a SMALL bit of good news and shout it out to the montain tops. It could have been....and probably was all the temps hired over the holidays. If this trend continues...great! By the way....please explain why unemployment went up the previous 11 months if what Obama said is true....the private sector grew for 12 months? Your lips are moving Mr. President. GO VIKINGS!!!
I did say if the trend continues....great....didn't I? But of course you ignored that part of my post. GO VIKINGS!!!

NO ONE (AT LEAST NOT I) REALLY EXPECTED YOU OR YOUR A--HOLE SYNCOPANT TO SEE ANYTHING POSITIVE, EVER, REPEAT EVER IN ANYTHING THE  PRESIDENT DOES.  ...AND THAT IS OK AND IS YOUR RIGHT, THAT NO ONE DENIES YOU.

...AND LET ME SUGGEST YOU DO YOUR OWN RESEARCH ON WHICH DIRECTION TOTAL UNEMPLOYMENT WENT IN THE PAST 12 MONTHS.
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: CIAA-FAN on January 07, 2011, 06:03:39 PM
It's a start, but we still have a long way to go.

THAT IS TRUE AND NO PRUDENT PERSON WOULD EVER DISAGREE WITH THAT ASSESSMENT.
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: JBROB on January 08, 2011, 09:33:25 AM
Look out for the smoke and mirrors.


I don't feel things improving.
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: Pitbull on January 08, 2011, 10:35:54 AM
The POTUS is making it do what it do... :nod: He will get a second term.... :nod:

All you have to do is look at what he's done in the time he's been in office and compare it to what Bush did in the same time.... :nod:

(http://scrapetv.com/News/News%20Pages/Politics/images-2/barack-obama-speech.jpg)
Title: Re: UNEMPLOYMENT DROPS SHARPLY TO 9.4%
Post by: CIAA-FAN on January 08, 2011, 11:50:59 AM
The POTUS is making it do what it do... :nod: He will get a second term.... :nod:

All you have to do is look at what he's done in the time he's been in office and compare it to what Bush did in the same time.... :nod:

(http://scrapetv.com/News/News%20Pages/Politics/images-2/barack-obama-speech.jpg)

HELLO!   THE DIFFERNCE IN WHAT EACH ACCOMPLISHED IS LIKE NIGHT AND DAY.