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SadistDave -> RE: 8.3% (8/4/2012 2:13:00 AM)
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quote:
ORIGINAL: Owner59
[:D]
"Payroll Gains Exceeding Forecasts Signal Sustained U.S. Growth"
Employers in the U.S. added more workers than forecast in July, easing concern the three-year expansion is faltering. Bigger payroll gains may be necessary to reduce an unemployment rate that climbed to a five-month high.
Employment increased by 163,000 last month, helped by a pickup at automakers and health-care providers, after a revised 64,000 June advance, Labor Department data showed yesterday in Washington. The median estimate of 89 economists surveyed by Bloomberg called for a rise of 100,000. The jobless rate, based on a separate survey of households, climbed to 8.3 percent.
http://www.bloomberg.com/news/2012-08-04/payroll-gains-exceeding-forecasts-signal-sustained-u-s-growth.html
Every month these numbers come out, and every month they revise the previous months numbers. There's nothing to be excited about here because in a month the numbers will be revised downward. The only question every month is "How wrong are they this month?" The revision of Junes numbers lowered last months employment figures by 20%. That means that all the unemployment figures from last month are wrong by a significant amount... This is not good news for Obummer, which is why the drive-by media tends to ignore it instead of report it with the attention it deserves.
163,000 jobs was not enough to compensate for the growing work force. If it was, then the unemployment rate would not have increased. Since the 163,000 employment figure will be revised downward next month, as it always is, that also means that the unemployment figure for the month of July will rise. This will not be reported on. It never is.
The idea thats getting a lot of spin is that this is a positive for Obummer and the Dumb-o-crats and that somehow increased unemployment is the measure of economic success. That dog won't hunt come November.
-SD-
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