Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

U.S. Adds Just 162,000 Jobs in July, Rate Falls To 7.4%
Fox Business ^ | Aug. 2, 2013 | Dunstan Prial

Posted on 08/02/2013 6:07:04 AM PDT by Mad Dawgg

The U.S. economy added just 162,000 jobs in July, well below expectations and not nearly enough to alter the Federal Reserve’s plan to maintain its easy money policies for the foreseeable future.

The headline unemployment rate fell slightly to 7.4%, according to figures released Friday by the Labor Department, down from 7.6% in June. Economist had predicted an increase of 180,000 jobs and a 7.5% unemployment rate.

(Excerpt) Read more at foxbusiness.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: economy; employment; jobs; obamacare; obamanomics
Navigation: use the links below to view more comments.
first 1-5051-80 next last
Obamanomics: "less people working means less people applying for Unemployment means Unemployment numbers fall means economy is doing great...!"

War is Peace...!

Last months chocolate ration of 4 grams will be raised to 3 grams this month...!

doubleplusgood...!


1 posted on 08/02/2013 6:07:04 AM PDT by Mad Dawgg
[ Post Reply | Private Reply | View Replies]

To: Mad Dawgg

how does the rate fall?

people giving up looking for work even when their benefits expire?

We all know the numbers are fudged. They are fudged and they are still really bad.


2 posted on 08/02/2013 6:09:53 AM PDT by GeronL
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mad Dawgg

The talking heads at CNBC said the labor force participation rate dropped. That is a much better measure than the manipulated unemployment rate.


3 posted on 08/02/2013 6:11:45 AM PDT by Truth29
[ Post Reply | Private Reply | To 1 | View Replies]

To: GeronL

More phony numbers....Does ANYONE believe ANYTHING these A-Holes say???


4 posted on 08/02/2013 6:12:21 AM PDT by CMailBag
[ Post Reply | Private Reply | To 2 | View Replies]

To: GeronL

IIRC we need about 200K jobs per month just to keep up with new people entering the job market. However new people who can’t get a job don’t show up on the unemployment roles so its all good for Obamanomics...!


5 posted on 08/02/2013 6:12:50 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Mad Dawgg

I will post this every time.

You only have to work ONE HOUR, EVEN BABYSITTING , DURING THE REFERENCE WEEK TO BE CONSIDERED EMPLOYED.


6 posted on 08/02/2013 6:13:48 AM PDT by autumnraine (America how long will you be so deaf and dumb to thoe tumbril wheels carrying you to the guillotine?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GeronL
The problem belongs to both parties.

What geniuses sent millions of manufacturing jobs to Asia without any replacement opportunities?


7 posted on 08/02/2013 6:13:58 AM PDT by Last Dakotan
[ Post Reply | Private Reply | To 2 | View Replies]

To: CMailBag

The sub-human filth known as the American voter is pretty much on board all the time for any reason whatsoever and will only vote for more.


8 posted on 08/02/2013 6:14:06 AM PDT by Doctor 2Brains
[ Post Reply | Private Reply | To 4 | View Replies]

To: Mad Dawgg

I’m linking to a Kos Kids thread, not because I hate the people here, but everyone needs a good laugh. The first two posts are by a couple of drones who have not been informed of the party line for the day, Kostards to the core. Also the racialists of the Left included a race employment chart at the bottom of the article.

http://www.dailykos.com/story/2013/08/02/1227060/-Report-for-July-weaker-than-expected-with-162-000-jobs-added-Jobless-rate-falls-to-7-4-U6-at-14#comments


9 posted on 08/02/2013 6:14:45 AM PDT by junta ("Peace is a racket", testimony from crime boss Barrack Hussein Obama.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mad Dawgg

Mortgage rates have bumped up plus schools are starting means home sales will drop.


10 posted on 08/02/2013 6:15:15 AM PDT by moovova (Sell everything, folks. Be poised to run.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mad Dawgg

Per Stuart Varney on FoxNews,

job creation is anemic

nearly 1/4 million drop out of workforce, many due to retirement, many due to no jobs available, thus being the cause for the reduction in the unemployment rate

many went from full-time to part-time, possibly due to impending Obamacare implementation


11 posted on 08/02/2013 6:15:52 AM PDT by TomGuy (.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mad Dawgg
U.S. Adds Just 162,000 Jobs in July, Rate Falls To 7.4%

The regime mouthpieces and the state run media outlets will continually trumpet the 7.4% figure this weekend, while ignoring these facts:

1. 63.4% labor participation rate - only 63.4% of the workforce is actually "working";

2. a record number of part time jobs being included in the stats - thanks to 0bamasare;

3. Nearly a quarter million dropped out of the workforce during this period and are no longer counted, bringing the total who have given up looking for work to a new record;

The low information voters, 0bama's core constituents, cannot and WILL NOT, understand these facts and their ramifications.

Despite 0bama's seeming incompetence, he is right on track for the destruction of America!

12 posted on 08/02/2013 6:17:15 AM PDT by The Sons of Liberty (A Quiet Rage is Building All Across America!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GeronL

The Ministry of Truth has spoken, so it must be so.


13 posted on 08/02/2013 6:17:30 AM PDT by fwdude ( You cannot compromise with that which you must defeat.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Last Dakotan

BUMP to your post.

Bring back American jobs, to America.


14 posted on 08/02/2013 6:18:04 AM PDT by Cringing Negativism Network
[ Post Reply | Private Reply | To 7 | View Replies]

To: GeronL
How does it fall? You lop off five plus days of unemployment numbers from California who wasn't accepting any new jobless claims from July 26th - July 30th, and then have phone issues on July 31st which knocked out the automated unemployment claims phone system.

And next week, there will be unexpected growth in new unemployment claims. But the headline rate won't have to be adjusted until the end of August, with the hope that holiday hires start by then, giving the expected 7.5% unemployment rate.

15 posted on 08/02/2013 6:18:54 AM PDT by kingu (Everything starts with slashing the size and scope of the federal government.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: CMailBag
A gubbamint of the people.......yea right.

We can't believe a damn thing our government tells us. Constant distortions, outright lies, propaganda, legal double speak.

These people are out of control.

16 posted on 08/02/2013 6:18:55 AM PDT by servantboy777
[ Post Reply | Private Reply | To 4 | View Replies]

To: Mad Dawgg

Every “economist” who meekly accepts this obvious fraud every month should be publicly ridiculed. The “great” June numbers were revised downward, as usual. These Labor Dept. statistics are just about as real as those put out by the other Communist countries.


17 posted on 08/02/2013 6:21:01 AM PDT by txrefugee
[ Post Reply | Private Reply | To 1 | View Replies]

To: junta

In years past we had morons talking about “Obama’s stash” this year the joke is on us with Obama’s jobs.


18 posted on 08/02/2013 6:21:15 AM PDT by junta ("Peace is a racket", testimony from crime boss Barrack Hussein Obama.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Mad Dawgg
Of the 162,000 jobs, 132,000 were estimated into existence by the CES Birth Death Model.
The underlying labor force was decreased by 37-thousand.
The labor participation rate is down another 1/10th to 63.4%.

The administration is passing around "Phony" numbers.

19 posted on 08/02/2013 6:21:21 AM PDT by concerned about politics ("Get thee behind me, Liberal")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Last Dakotan
That one in the red sweater is a counter-revolutionary! She should be eating at the table behind her! There's only three there and plenty of room! She will be severely disciplined!


20 posted on 08/02/2013 6:22:41 AM PDT by COBOL2Java (I'm a Christian, pro-life, pro-gun, Reaganite. The GOP hates me. Why should I vote for them?)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Mad Dawgg

Well we have the baby boomers retiring, kind of a budge in the curve. That might account for some of the distortion. The number I recall was 280K new jobs needed to keep unemployment rate stable but that was prior to the baby boomers retiring in mass.


21 posted on 08/02/2013 6:23:18 AM PDT by jpsb (Believe nothing until it has been offically denied)
[ Post Reply | Private Reply | To 5 | View Replies]

To: kingu

You just keep manipulating the numbers until they say what you want them to say.


22 posted on 08/02/2013 6:24:04 AM PDT by GeronL
[ Post Reply | Private Reply | To 15 | View Replies]

To: Mad Dawgg

Each month, The Hamilton Project examines the “job gap,” which is the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while absorbing the people who enter the labor force each month. As of June, our nation faces a “jobs gap” of 9.7 million jobs. This chart shows how the jobs gap has evolved since the start of the Great Recession in December 2007, and how long it will take to close under different assumptions for job growth. If the economy adds about 208,000 jobs per month, which was the average monthly rate for the best year of job creation in the 2000s, then it will take until April 2020 to close the jobs gap. Given a more optimistic rate of 321,000 jobs per month, which was the average monthly rate of the best year of job creation in the 1990s, the economy will reach pre-recession employment levels by February 2017.

23 posted on 08/02/2013 6:25:45 AM PDT by kabar
[ Post Reply | Private Reply | To 5 | View Replies]

To: kabar

Thanks! I am bookmarking that one!


24 posted on 08/02/2013 6:27:29 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
[ Post Reply | Private Reply | To 23 | View Replies]

To: Mad Dawgg

All that these bogus reports do is piss off more Americans every month. That is good... when enough Americans become truly pissed then DC will change.

LLS


25 posted on 08/02/2013 6:27:45 AM PDT by LibLieSlayer (FROM MY COLD, DEAD HANDS!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: concerned about politics
We need to create 150,000 jobs a month just to keep up with immigration. We bring in 1.2 million permanent legal immigrants a year plus another 700,000 temporary workers annually.

The McRubio-Schumer amnesty will bring in 3 million permanent legal immigrants a year plus doubling our guest worker programs to to 1.4 million a year.

26 posted on 08/02/2013 6:30:32 AM PDT by kabar
[ Post Reply | Private Reply | To 19 | View Replies]

To: Last Dakotan

The problem belongs to both parties.

What geniuses sent millions of manufacturing jobs to Asia without any replacement opportunities?

Liberals.

Their hatred for this country is self evident and anything that destroy it makes them happy.


27 posted on 08/02/2013 6:32:12 AM PDT by edcoil (Something wonderful is going to happen today!)
[ Post Reply | Private Reply | To 7 | View Replies]

To: The Sons of Liberty

I know you know it is not incompetence but an on schedule plan for the destruction of the United States. I would like to see more pundits start hammering this but they keep the spouting the Obama is out of touch line. He is not out of touch. He knows exactly what he is doing.


28 posted on 08/02/2013 6:35:17 AM PDT by 7thson (I've got a seat at the big conference table! I'm gonna paint my logo on it!)
[ Post Reply | Private Reply | To 12 | View Replies]

To: GeronL

The “rate” falls when you mess with the denominator in the equation.


29 posted on 08/02/2013 6:36:17 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
[ Post Reply | Private Reply | To 2 | View Replies]

To: CMailBag

Figures don’t lie....but liars can figure.

And by changing the goalposts, almost any objective can be achieved.

If the kind of reporting that was used a mere six years ago were to be re-instituted, the real rate would be at Great Depression levels - 15% to 20% or more.

And our real growth in GDP would be negative.

Nothing the Current Regime squatting in the White Hut is doing even touches upon any kind of solution to this dilemma. In fact, almost everything they are doing right now is exacerbating an already bad situation. Quantitative easing, imposing the draconian rules of the “Patient Protection and Affordable Care Act of 2010”, commonly called “Obamacare”, the constraints on industrial and commercial expansion by excessive and arbitrary application of environmental regulation not justified by any cost-benefit ratio determination, and the obsessive eavesdropping on phone and internet messages by highly secretive and probably malevolent control freaks for all the wrong reasons, add up to what in another era would be called a tyrannical rule. Most of these new impositions upon what was once among the freest of nations on the planet are by extralegal means, with a total disregard for precedent and rule of law, and constant re-interpretations of what was claimed to be the “truth” only a very short while ago.

Reality has far exceeded the span of imagination by George Orwell in the novel “1984”.


30 posted on 08/02/2013 6:43:24 AM PDT by alloysteel (Unattended children will be given a Red Bull and a free Kazoo. Reminds me of Congress...)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Mad Dawgg

By election time it’ll be at 0.1%!! I can hardly wait! My unicorn only sh##’s green Skittles!


31 posted on 08/02/2013 6:45:13 AM PDT by albie (re)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Truth29
I saw mark zandy say the use of the word manipulated was a pejorative.

These obama sycophants can't face reality.

32 posted on 08/02/2013 6:47:17 AM PDT by Post5203 (Please name me a sucessfull city or country run by a "person of color".)
[ Post Reply | Private Reply | To 3 | View Replies]

To: COBOL2Java

She IS being disciplined.


33 posted on 08/02/2013 6:53:54 AM PDT by ecomcon
[ Post Reply | Private Reply | To 20 | View Replies]

To: Mad Dawgg
Obamanomics: "less people working means less people applying for Unemployment means Unemployment numbers fall means economy is doing great...!"

This is exactly what they are reporting on news this morning - "New jobs were "Unexpectedly" below forecast but the bright side is the unemployment rate dropped under Dear Reader's brilliant guidance of America."
34 posted on 08/02/2013 6:58:02 AM PDT by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
[ Post Reply | Private Reply | To 1 | View Replies]

To: autumnraine
You only have to work ONE HOUR, EVEN BABYSITTING , DURING THE REFERENCE WEEK TO BE CONSIDERED EMPLOYED.

But it has to be reported to the government, if it doesn't get reported it doesn't count.

I am beginning to believe the a lot of people have gone on a tax strike. Or per se...truly gone Galt.

35 posted on 08/02/2013 6:58:23 AM PDT by EBH (The 'silent majority' is just as responsible for where this country is today as the screaming mob)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Mad Dawgg

Fed BS.


36 posted on 08/02/2013 7:02:10 AM PDT by RetiredArmy ("As in the days of Noah, so it will be at the coming of Man." The LORD said it would be like this.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: albie
By election time it’ll be at 0.1%!!

That is perfectly possible. And, at the same time that unemployment rate is at 0.1%, the employment rate will be at 0.1% AND the labor participation rate will be 0.1%... the Triple Crown Award will then be bestowed upon our Dear Leader.

37 posted on 08/02/2013 7:02:19 AM PDT by C210N (When people fear government there is tyranny; when government fears people there is liberty)
[ Post Reply | Private Reply | To 31 | View Replies]

To: Mad Dawgg

Obamacare Full Frontal: Of 953,000 Jobs Created In 2013, 77%, Or 731,000 Are Part-Time

http://www.zerohedge.com/news/2013-08-02/obamacare-full-frontal-953000-jobs-created-2013-77-or-731000-are-part-time

“When the payroll report was released last month, the world finally noticed what we had been saying for nearly three years: that the US was slowly being converted to a part-time worker society. This slow conversion accelerated drastically in the last few months, and especially in June, when part time jobs exploded higher by 360K while full time jobs dropped by 240K. In July we are sad to report that America’s conversation to a part-time worker society is not “tapering”: according to the Household Survey, of the 266K jobs created (note this number differs from the establishment survey), only 35% of jobs, or 92K, were full time. The rest were... not.”

Check out the graphs at the link.

Why don’t we hear this from the MSM?!


38 posted on 08/02/2013 7:06:22 AM PDT by Innovative ("Winning isn't everything, it's the only thing." -- Vince Lombardi)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GeronL

More disability, part time, early retirement, off the books, etc.


39 posted on 08/02/2013 7:10:27 AM PDT by Zuse
[ Post Reply | Private Reply | To 2 | View Replies]

To: All
 photo 532510_275741462566679_1331011143_n.jpg
Please Help To Keep The
"Conservative News and Views"
on FR coming by "Clicking Here"!!

Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!


40 posted on 08/02/2013 7:15:40 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
[ Post Reply | Private Reply | To 39 | View Replies]

To: Cringing Negativism Network

America won’t solve its economic problems until it solves our trade problems.


41 posted on 08/02/2013 7:18:41 AM PDT by Last Dakotan
[ Post Reply | Private Reply | To 14 | View Replies]

To: Innovative

And only under Obama is over 7% unemployment is considered good news.


42 posted on 08/02/2013 7:21:45 AM PDT by Innovative ("Winning isn't everything, it's the only thing." -- Vince Lombardi)
[ Post Reply | Private Reply | To 38 | View Replies]

To: Mad Dawgg

Is this the result of his hiring—how many is it—to go door to door and tell families about Obamacare? Many of these are the same who go door to door prior to elections, and take people to the polls.


43 posted on 08/02/2013 7:29:35 AM PDT by sarasota
[ Post Reply | Private Reply | To 1 | View Replies]

To: moovova

You won’t see the impact of school starting because everything is reported as seasonally adjusted to account for things exactly like this.


44 posted on 08/02/2013 7:31:57 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Truth29
Labor Force Participation Rate Falls In July
45 posted on 08/02/2013 7:36:24 AM PDT by blam
[ Post Reply | Private Reply | To 3 | View Replies]

To: kabar
The Scariest Jobs Chart Ever


46 posted on 08/02/2013 7:39:03 AM PDT by blam
[ Post Reply | Private Reply | To 23 | View Replies]

To: Wyatt's Torch

“reported as seasonally adjusted to account for things exactly like this.”

No doubts. But in real life, sales always slow down at the end of summer, even more as Thanksgiving approaches, and then it’s basically nappy time between Thanksgiving and Christmas.


47 posted on 08/02/2013 7:42:29 AM PDT by moovova (Sell everything, folks. Be poised to run.)
[ Post Reply | Private Reply | To 44 | View Replies]

To: moovova

Oh absolutely true. I was just commenting that it won’t show in the numbers.


48 posted on 08/02/2013 7:44:30 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
[ Post Reply | Private Reply | To 47 | View Replies]

To: All; Starboard

Point made by Starboard in the original thread on this story:

A ZH poster made the point that in a normal world people would look at this weak number (162K) and say the Fed has been doing everything in their power, yet the numbers after 5 years are still bad.

One thing at this point should be perfectly clear: Trillions of dollars spent by the central planners have failed to improve the economy. We will pay a very high price in the future for this epic failure and the resulting economic distortions.


49 posted on 08/02/2013 8:01:11 AM PDT by John W (Viva Cristo Rey!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jpsb

Except that the mass retirement of baby boomers should be opening up scads of jobs. It would be even better than 1:1 replacement since you’d be replacing experienced, top of wage scale workers with less-skilled workers, so you could afford to hire more than one replacement.


50 posted on 08/02/2013 8:09:14 AM PDT by NonValueAdded ("When there is no penalty for failure, failures proliferate." George F. Will)
[ Post Reply | Private Reply | To 21 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-80 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson