Skip to comments.U.S. job growth cools, unemployment rate rises to 6.2 percent
Posted on 08/01/2014 5:51:09 AM PDT by SeekAndFind
U.S. job growth slowed more than expected in July and an unexpected rise in the unemployment rate pointed to some slack in the labor market that could give the Federal Reserve room to keep interest rates low for a while.
Nonfarm payrolls increased 209,000 last month after surging by 298,000 in June, the Labor Department said on Friday.
Data for May and June were revised to show a total of 15,000 more jobs created than previously reported, showing underlying momentum.
(Excerpt) Read more at reuters.com ...
Hmmmm. Jobless “claims” vs jobless. Me thinks they are not the same thing but never fear, the ldp (lap dog press) will still tout the lyin’ king lowering the unemployment rate.
This is more proof that the second quarter economic growth numbers of yesterday were fudged by moving data from an already bad first quarter into the second quarter so that yesterdays numbers could look better than expected.
GDP has a new meaning...
GDP = Guard Dog Press
6.2% is only 1.2% above what most economists consider “full employment”, where most of the job changes occur with people who already have jobs.
Yeah, there’s only 1.2% out there that need a job and can’t find one... raaaaaaahhhhht.
Recovery Summer 5.0
So the improvement two week ago, wasn’t really there.
OK. Thought so.
The government drones must have been busy last night changing the report from good to bad.
Fox reporting the U6 rate is 12.2%.
I wonder what King Obozamma will blame this latest rate (lie) on? Too Hot? Too Cold? Too much CO2?
Never believe anything these a—holes say...
How to create millions of jobs:
Force businesses to cut everyone to part time to avoid Obama DeathCare, hire extra part timers to get the work done.
Millions of “new jobs”.
Meaningless number is meaningless.
I’m so glad we farm! By the time 0bama is done with us, we’re gonna be Zillionaires! *SPIT*
Looks like someone forgot to effectively fake the numbers this quarter. *Rolleyes*
I think this is the key. The Democrats need an excuse to prop up the stock markets until after the fall election.
Higher unemployment allows the Democrats to continue the existing Fed policies which are designed to keep the stock markets afloat so they can pretend the economy is rosy.
So if it drops, it’s UNEXPECTED.
If it rises, it’s UNEXPECTED.
These hateful, lying, traitors destroying our country.
typical of msm the left out the word ILLEGAL.
Shock: 80% of U.S. population growth is from immigrants, resources being sucked dry
When the second quarter’s numbers for “growth” are revised in the future (at some time that it is hoped will escape the notice of nearly everybody), the bogus number of 4% will “unexpectedly” drop to a much smaller figure, maybe even negative.
The Current Regime did not invent the concept of “cooking the books”, but they certainly raised it to an art form.
When even the Current Regime grudgingly admits the unemployment percentage is “up”, then the situation must be much worse than they are reporting.
And now they are giving some five or six million persons who have entered the US “in an irregular manner” work permits to sort of make them “legal”, this is supposed to reduce the number of unemployed US citizens? How does that arithmetic work? NO form of “the new math” can reconcile that disparity.
The Current Regime gives liars everywhere a bad name.
“...an unexpected rise in the unemployment rate pointed to some slack in the labor market that could give the Federal Reserve room to keep interest rates low for a while.”
How to create a zero unemployment rate. Give everyone in the country a government job for one hour a week at minimum wage or eliminate all jobs in the country, everyone will stop looking for a job since they know none are available so they won’t be counted as unemployed because they are not looking. Presto, chango, ZERO unemployment. Now if I could just get those crazy flying pigs to stop dive bombing my Unicorns I could have time to go and watch the winter Olympics in the underworld.
“Im so glad we farm! By the time 0bama is done with us, were gonna be Zillionaires! *SPIT*”
LOL. Hope you don’t have any “EPA Puddles” on your property.
I am more and more cynical about these data. We have a partisan bureaucracy that will manipulate data when it serves the Dems interests.
What kind of farming do you do, if I may ask?
It’s all BS, 92 million able adults are unemployed which is 1/3rd of the population yet they constantly give us single digit percentages
If I have it correct, the 2nd quarter growth is based on the first quarter 2014 revised DOWN to -2.9%. So, was it 4% higher than that 1st quarter 2013 hole they had dug? That means that it was only 1.1% higher than the 4th quarter 2013. And that would mean an average .5% for each of those quarters.
If they had not ‘revised down’ to -2.9% could they have shown 4% growth? Is it a math trick?
Just using hypothetical numbers, since we have roughly a 17 trillion annual GDP, if the 4th 2013 was $4.25 trillion (one fourth of 17), and the 1st 2014 was 3% lower at $4.12 trillion and the 2nd 2014 was 4% higher than the 1st at $4.28 trillion, then they’re only $.03 trillion higher than where they started from. That would be about .1% growth
BUT they can say 4% growth from that low point they had sunk to.
Without knowing where they’re measuring 4% from, then we don’t really know what’s being done with numbers to impress us.
-— that could give the Federal Reserve room to keep interest rates low for a while. -—
I think it’s safe to assume that interest rates will be kept low through 2016.
People don’t want to work. It is easier to get things from the government.
I know people who simply cannot hire people do a job.
Why work when you can suck off those who are working?
If we always expect the unexpected, then the unexpected is expected, except when it’s unexpectedly unexpected.............
I would say that the news was so bad that they couldn’t cover it up completely so they make it sound a little bad.
The economy is doing so well that we only have 47 million on food stamps.
Guess we should be happy that it isn’t 75 million. Or maybe that is the next planned stop.
Summer of Recovery 6.0.
Are illegal immigrants counted in the employment rolls? In other words when the unemployment rate goes down, do the jobs created for illegal immigrants help reduce the rate?
I thot “underlying momentum” was the grease on the ground that keeps the Grand Kenyan’s butt sliding smoothly?
That is the French model, you know, and it’s obvious how well it works for them. Part time jobs all around and everybody is HAPPY.
Farming is good. But we grow pine trees. With any luck at all the Grand Kenyan won’t be able to leave us sucking wood. Wasn’t that the answer Johny Carson got when he asked an old Indian what they did for intertainment at the tribe?
Fox is reporting the U6? Very interesting. This is the first time I have heard of an MSM report something other than groupthink talking points and in this case something other than U3. I didn’t think an MSM is capable of independent thought.
“unemployment rate rises to 6.2 percent”
Damn that Bush. /s
- Homo Hussein Electus II
- Why report income when Obama spends $100M of US taxpayer’s money on his golfing vacation in Ebola Valley, Africa?
Interest rates are very low because they know damn well if they raise them, they’ll put the final bullet into the head of what’s left of the economy...
The kids got out of school and tried to find jobs.
What state do you live in?
Very curious as if you are in Massachusetts please contact me.
I need part time work at least. Working full time + with self employment but its not enough.
Will be applying at the USPS soon as they are looking for part timers.
There has never been so many people that have dropped out of the workforce than there have been as a direct result of Obama’s anti-growth policies. Even though these people have no jobs and are not working, they are not considered to be unemployed by the liars in government that spew these false “unemployment” numbers to the public at large.
Real unemployment (the number of people not working) is the highest it has been in the entire history of the US.
Real unemployment for the general population is somewhere between 18% and 25% and some demographics are much higher.