Posted on 01/06/2012 5:57:49 AM PST by C19fan
Nonfarm payroll employment rose by 200,000 in December, and the unemployment rate, at 8.5 percent, continued to trend down, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in transportation and warehousing, retail trade, manufacturing, health care, and mining.
(Excerpt) Read more at bls.gov ...
Well let's see how that works in 2012.
http://www.cbn.com/cbnnews/finance/2011/December/Sears-Closing-More-than-100-Stores/
and Macy's and Bloomingdale's are closing 9 stores.
Now that is the subject of hot debate, and it is the primary method to massage the number.
They are cooking the books. Dont be surprised to see the unemployment rate at 4 percent by the time the election comes. Anything to re-elect Hussein
Compare this to what they said about Bush's economy, compared to the reality. This is from the White House in 2007, so it has their spin on it, but the numbers are hard to refute. I never hear these comparisons. I only hear how Bush ruined the economy and poor Obutthead has been struggling to fix it.
Fact Sheet: December 2007 Marks Record 52nd Consecutive Month of Job Growth
More Than 8.3 Million Jobs Created Since August 2003 In Longest Continuous Run Of Job Growth On Record
White House News
In Focus: Economy
Today, the Bureau of Labor Statistics released new jobs figures – 18,000 jobs created in December. Since August 2003, more than 8.3 million jobs have been created, with more than 1.3 million jobs created throughout 2007. Our economy has now added jobs for 52 straight months – the longest period of uninterrupted job growth on record. The unemployment rate remains low at 5 percent. The U.S. economy benefits from a solid foundation, but we cannot take economic growth for granted and economic indicators have become increasingly mixed. President Bush will continue working with Congress to address the challenges our economy faces and help facilitate long-term economic growth, job growth, and better standards of living for all Americans.
The U.S. Economy Benefits From A Solid Foundation
Real GDP grew at a strong 4.9 percent annual rate in the third quarter of 2007. The economy has now experienced six years of uninterrupted growth, averaging 2.8 percent a year since 2001.
Real after-tax per capita personal income has risen by 11.7 percent – an average of more than $3,550 per person – since President Bush took office.
Over the course of this Administration, productivity growth has averaged 2.6 percent per year. This growth is well above average productivity growth in the 1990s, 1980s, and 1970s.
The Federal budget deficit is down to 1.2 percent of GDP (in FY07), well below the 40-year average. Economic growth contributed to the highest tax revenues on record and a $250 billion drop in the deficit over the last three years.
U.S. exports in October 2007 were 13.7 percent higher than exports in October 2006.
Unemployment will be down to 5.0 by October. With 3 million jobs created.
Just watch.
If you are unemployed long enough, you are no longer unemployed
extending this lunacy, America will officially have no unemployed, when the Labor Force Participation rate hits 58.5%, which should be just before the presidential election.
The liars in this administration and the willfully stupid media who refuses to investigate, all think we will buy anything. Were are did all the people go starting in 2008? Did they go to the same hole that Obama's real Birth Certificate is buried? WTH? We need honesty in government, and there is none. Crazy, Crazy, Insane Bull Sh..
Perception does NOT equal reality. They can try to make it so, and sometimes they succeed, but if they’re trumpeting blue skies, but what’s really happening is that people are running out of benes and now they’re PO PO, I mean REAL PO well, sometimes they try to put 10 lbs of sh!t in a 5 lb bag.
You have to look at the BLS internals to see exactly what this means. Seasonal temporary workers in transportation and warehousing [+50K], retail [+28K], retail and hospitality [+24K] - for a total of 102K.
MOST of these jobs will be gone by the end of January. Additionally, MOST of those seasonal temporary workers hired in November will be gone.
Key details are listed, below.
*****
The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 5.6 million and accounted for 42.5 percent of the unemployed.
About 2.5 million persons were marginally attached to the labor force in December, little different from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were
available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.
Among the marginally attached, there were 945,000 discouraged workers in December, a decrease of 373,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.6 million persons marginally attached to the labor force in December had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.
Employment in transportation and warehousing rose sharply in December (+50,000). Almost all of the gain occurred in the couriers and messengers industry (+42,000); seasonal hiring was particularly strong in December.
Retail trade continued to add jobs in December, with a gain of 28,000. Employment in the industry has increased by 240,000 over the past 12 months. Over the month, job gains continued in general merchandise stores (+13,000) and in clothing and clothing accessories stores (+11,000). Employment in sporting goods, hobby, book, and music stores fell by 10,000.
In December, manufacturing employment expanded by 23,000, following 4 months of little change. Employment increased in December in transportation equipment (+9,000), fabricated metals (+6,000), and machinery (+5,000).
Mining employment rose by 7,000 over the month. Over the year, mining added 89,000 jobs.
Health care continued to add jobs in December (+23,000); employment in hospitals increased by 10,000. Over the year, health care employment has risen by 315,000.
Within leisure and hospitality, employment in food services and drinking places continued to trend up in December (+24,000). Over the year, food services and drinking places has added 230,000 jobs.
Construction employment changed little in December. Within the industry, nonresidential specialty trade contractors added 20,000 jobs over the month, mostly offsetting losses over the prior 2 months.
Employment in professional and business services changed little in December for the second month in a row. The industry added 42,000 jobs per month, on average, during the first 10 months of 2011.
Government employment changed little in December but was down by 280,000 over the year. Job losses in 2011 occurred in local government; state government,excluding education; and the U.S. Postal Service.
The change in total nonfarm payroll employment for October was revised from +100,000 to +112,000, and the change for November was revised from +120,000 to +100,000.
Christmas hires soon to disappear if they haven’t already. Plus, more people left the Labor force than were hired allowing the unemployment rate to go down since they aren’t counted as “looking for a job”.
Urkel is screwed if people start believing the anomaly is evidence of new hiring and start applying for the invisible jobs. Then they will surge back into the Labor force and would be reported as “looking for a job” this will cause the UnR to rise.
You can’t trust the exact numbers but you can derive a picture of what is happening from them.
And when you consider the drastic cuts in the military which are on line his prospects don't improve. Military spending is one of the few government expenditures which actually does stimulate the economy (it calls for the production of goods which the private sector would not produce otherwise.) That spending is going to drop radically sending UnR to new height.
Only sheer, abject stupidity gives him even a semblance of a chance to win. Unfortunately, we see the evidence of colossal stupidity all around us and have to most colossal of all to point to - the election of this bum in the first place.
I KEEP telling people this OVER and OVER again ...
My sister works on Wall Street. She says that her firm [and ALMOST ALL other firms] TOTALLY discount the economic numbers put out by the government between Thanksgiving and January 31st.
She says that her firm has studies that indicate the following:
1. More than 80%-90% of ALL hiring is temporary. Most of the jobs will be gone at the end of January.
FYI: My UPS guy dropped off a package today. Between Dec. 8th and New Years, there were TWO GUYS per truck. One to drive, one TEMPORARY GUY to deliver. This saved time at EACH stop, so that UPS could make MORE deliveries in LESS time. The UPS guy said that ALL of temporairy guys have been LET GO at his UPS location.
2. Many CHRONICALLY unemployed people STOP looking for work for various reasons, including that they will be spending the holidays with family out of town since they CANNOT afford their own Christmas.
ADDITIONALLY, some unemployed people stop looking for PERMANENT work during the holidays since getting rejected depresses them [see item 3, below]. These people ARE NOT included in the Unemployment Rolls.
These people RE-START their job searches after the holidays and are then RE-INCLUDED in the Unemployment Rolls.
3. Many firms institute HIRING FREEZES for permanent jobs at the end of October. They want to make their "bottom-lines" look good for the end-of-year annual reports. This is a way to keep costs down and hiring usually DOES NOT RE-COMMENCE until March of the following year, IF AT ALL.
I worked for MCI for years - and this was SOP.
4. Firms that are in BIG trouble [as to Item 3, above] with EXISTING headcount AND that have to layoff workers USUALLY wait until AFTER the holidays to EJECT workers.
Bosses want to feel "good" around the holidays and DO NOT want to become "The Grinch" - to the laidoff workers OR to the workers that remain in their jobs.
These firms wait until AFTER the holidays to give them the pink slip.
For example, Sears/Kmart is laying off 6K-10K workers and closing 120 stores, Boeing is closing its Wichita Plant [2K workers], Macys is closing 9 stores [5 Macys, 4 Bloomingdales], Eastman Kodak is preparing Chapter 11, and Filene's Basement [as well as parent, Syms] just shut its doors.
*** The NET RESULT of ALL of this is that the November through Janauary statistics are SKEWED! You have to wait until the END OF JANUARY in order to get reliable statistics again ...
It may just be temporary, but it translates into a coming, upward spike for Obama’s approval ratings. The “media” is conveniently ignoring two critical factors:
1. December hiring tends to be holiday related; and
2. That 8.5% number doesn’t reflect those who’ve moved to the sidelines in the job hunt.
But... there’s a reelection for them to win. Can’t let honest journalism get in the way of the agenda.
There is no way in HELL that unemployment is going down. For one thing, you have the returning vets that are now unemployed. For another, a Tier IV has been extended and all those still unemployed and previously on unemployment benefits that had run out and that had stopped looking and had fallen off of the unemployed rolls are now BACK ON the rolls. Tjese numbers are bogus and we need someone in the GOP with the spine and nads enough to say it publicly. Guess we are SOL on that.
IMHO, it only needs to get down to 8% “on paper” and Hussein will claim the stimulus worked and he will be re-elected.
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.