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Keyword: unemployment

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  • October jobless rate is 7.9 percent: 171,000 jobs created. Good news for Obama (Desperation spin)

    11/02/2012 7:42:08 AM PDT · by Qbert · 18 replies
    Chicago Sun Times ^ | November 2, 2012 | Lynn Sweet
    COLUMBUS, Ohio--The last jobs report before the election was out Friday morning and the 7.9 percent October rate--virtually unchanged from last month--by not jumping to 8 percent--is a break for President Barack Obama. If the number had gone higher--it would have given Mitt Romney at last chance before the Tuesday balloting to mount a strong argument about Obama's tenure over the economy. The Obama team will be able to argue that there has been 32 months of job growth and the number of "discouraged workers"-- workplace dropouts--has declined. Romney has been hitting Obama on that point. The Bureau of Labor...
  • Obama Labor Sec. Celebrates 7.9% Unemployment (14.3 for blacks), Gives Candy to Reporters

    11/02/2012 7:04:47 AM PDT · by kristinn · 13 replies
    MacFarlane News via Twitter ^ | Friday, November 2, 2012 | Seth MacFarlane
    US Labor Secretary just bounced into studio with a big smile. Handed out candy to reporters. Loves job numbers Link to photo.
  • Forward? Number of Unemployed Increases By 170k Offsetting 171k Increase in Non Farm Payrolls

    11/02/2012 7:00:54 AM PDT · by whitedog57 · 2 replies
    Confounded interest ^ | 11/02/2012 | Anthony B. Sanders
    According to the Bureau of Labor Statistics, the unemployment rate rose from 7.8% to 7.9% for October. The number of unemployed in the US rose from 12,088,000 in September to 12,258,000 in October. An increase of 170,000. That almost perfectly offsets the increase in non farm payrolls (+171,000). And the duration of unemployment 27 weeks and over rose to 40.6%. The employment to population ratio rose in October to 58.8, but still remains at a level near the beginning of the “Reagan Recovery.” The unemployment rate among blacks/African Americans rose to 14.30%. There will be no joy in the Black/African...
  • Putting Today's Job Number In "Seasonally Adjusted" Context (Read before you read the Gov't release)

    11/02/2012 6:05:47 AM PDT · by Zakeet · 2 replies
    Zero Hedge ^ | November 2, 2012
    Today's jobs number is expected to come at 125,000, with a high estimate of 154,000 from John Hancock financial, and a low of 30,000 from Westpac Banking, and with a whisper expectation at 150,000 courtesy of yesterday's "stronger than expected" ADP re-revised print. A beat or miss at over 1 standard deviation will promptly wake the HFT algos from their deep slumber. Wait did we say miss? Hah. Anyway, just to put today's seasonally adjusted expected monthly job growth in context, below is a chart showing the average seasonal adjustment for each month of the year in the past decade....
  • BLS Employment Situation Summary (up 0.1% to 7.9%)

    11/02/2012 5:35:32 AM PDT · by xzins · 76 replies
    Bureau of Labor Statistics ^ | 2 Nov 12 | Bureau of Labor Statistics
    THE EMPLOYMENT SITUATION -- OCTOBER 2012 Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, health care, and retail trade. _______________________________________________________________________________ | | | Hurricane Sandy | | | |Hurricane Sandy had no discernable effect on the employment and unemployment | |data for October. Household survey data collection was completed before the | |storm, and establishment survey data collection rates were within normal ranges| |nationally and for the affected areas. For information on how unusually...
  • NFP and Unemployment Rate Thread - Guess the numbers

    11/02/2012 4:31:55 AM PDT · by Outraged At FLA · 16 replies
    CNBC ^ | 11/02/12 | CNBC
    Traders are watching to see if any surprises show up in the October employment report, the last before the election, but the real surprise could come in the November number when the aftereffects of Super Storm Sandy are felt in the job market. Economists expect the October report to show a tepid 125,000 new nonfarm payrolls and a steady unemployment rate of 7.8 percent, according to Reuters. The report has been considered key since it is the final report card on job growth ahead of Tuesday’s presidential election, and expectations are low.
  • Two-thirds of jobs go to immigrants during Obama’s four years

    11/01/2012 1:32:14 PM PDT · by Jim Robinson · 16 replies
    Washington Times ^ | Oct 31, 2012 | By Stephen Dinan
    "Researchers say legals and illegals are more mobile than natives in America" Two-thirds of those who have found employment under President Obama are immigrants, both legal and illegal, according to an analysis that suggests immigration has soaked up a large portion of what little job growth there has been over the past three years. The Center for Immigration Studies is releasing the study Thursday morning, a day ahead of the final Labor Department unemployment report of the campaign season, which is expected to show a sluggish job market more than three years into the economic recovery. That slow market, combined...
  • Tomorrow Morning's Jobs Numbers Could Be a Last Minute October Surprise!

    11/01/2012 12:18:39 PM PDT · by xzins · 28 replies
    1 Nov 12 | Xzins
    When Gallup released it's mid-month jobs survey numbers, they had dropped to 7.3%. They generally are a few points under the monthly report due out tomorrow, so that would mean a 7.5% UE3. However, we know Obama and his minions will do all in their power to tie into their "don't change now that things are looking up" campaign theme the last few weeks. It is very possible that the media is all keyed to go into feeding frenzy for the entire weekend with the "progress is being made; don't change now" message. Moreover, it's very likely that Obama will...
  • ADP: Private Sector Employment Adds 158,000 Jobs in October After LOSING 402,000 Jobs With Revision

    11/01/2012 6:43:40 AM PDT · by whitedog57 · 7 replies
    Confounded Interest ^ | 11/01/2012 | Anthony B. Sanders
    According to ADP, private sector employment increased by 158,000 jobs in October. This beat expectations of 131,000 but is lower than the previous reading of 158,000 (which has been revised downwards to 114,000 which was actually 88,000). This is the most jobs added in eight months. This is especially welcome news after the ADP revision showed that since February 2012, 402,000 fewer jobs were created than previously thought. ADP wanted to be more consistent with BLS for employment numbers, so the downward revision that makes this week’s increase look even higher is indeed consistent with BLS. Meanwhile, Challenger US Job...
  • Jobless in the Crisis: Eurozone Unemployment Higher than Ever Before

    10/31/2012 10:19:15 PM PDT · by Olog-hai · 3 replies
    Der Spiegel ^ | 10/31/2012 | (cgh — with wire reports)
    Global financial markets have, for the moment, been calmed. The European Central Bank has embarked on its program to buy unlimited sovereign bonds as needed from eurozone countries suffering from high borrowing costs and all of those countries have adopted strict austerity programs to get their budgets in order. That, though, has not been good for economic growth—and now the European Union has released new figures highlighting a struggling eurozone economy. According to a report released on Wednesday by Eurostat, the European Union's statistical office, unemployment in the 17-nation common-currency area stood at 11.6 percent in September, the highest it...
  • ADP Revises Methodology and Finds 365,000 FEWER Jobs Were Created Than Thought in 2012

    10/31/2012 1:24:52 PM PDT · by whitedog57 · 9 replies
    Confounded Interest ^ | 10/31/2012 | Anthony B. Sanders
    There were two purchasing manager reports today: Chicago and Milwaukee. The Chicago Purchasing Manager index was less than expected at 49.9 for October, although up a wee bit from September’s reading of 49.7. Here are the gory details to go along with the 49.9 reading. Employment at a 33 month low and inventories slipped into contraction. The downward trend in the Chicago PMI index is matched by the downward trend in the Chicago employment index. The Milwaukee PMI index fell in October to 43.30 and continues to be below 50 since the end of July 2012. Both the Chicago and...
  • ADP Changes Methodology of Job-Counting; One Analyst Thinks The Change Suggests That Friday's.

    10/31/2012 12:49:01 PM PDT · by Perdogg · 12 replies
    Assuming the BLS even releases data on Friday, which they're still hedging about. ADP is a big payroll-service firm which releases its own assessment of job growth (or job losses), based partly on its own data. Their new methodology occasioned a revision to their already-reported September figures. ADP's new calculations put the monthly job creation [in September] at just 88,200, down from the 162,000 the firm originally reported earlier this month. ... The soft ADP count could add credence to those who believe the pace of job creation is slower than the government's numbers indicate. "It's huge, no doubt about...
  • Obama Economy “Is Still In A Giant Hole

    10/31/2012 10:37:26 AM PDT · by Kaslin · 3 replies ^ | October 31, 2012 | Donald Lambro
    WASHINGTON - The bleak truth about the comatose Obama economy is not just that it's barely breathing, but that it's still not far from another recession. President Obama's campaign bid for another four years is loosely based on the preposterous claim the economy is "moving forward." In fact, it's been falling backward or at least treading water on a number of fronts, and economic forecasters say it will weaken further under his policies, if he is re-elected. Economists predict yet another weak jobs figure Friday that may push the unemployment rate up a bit, reminding undecided voters and even jittery...
  • A Grim Preview Of This Friday's Jobs Number

    10/31/2012 10:35:52 AM PDT · by Outraged At FLA · 18 replies
    Zerohedge ^ | 10/31/12 | ZeroHedge
    Following this morning's dismal employment sub-index from Chicago Fed PMI and the recent Philly Fed employment sub-index, the 'data' suggests that this week's (now confirmed by the BLS that NFP will be released on Friday as scheduled) payroll data could be the first negative print since September 2010.
  • Black and White Standards

    10/31/2012 7:13:53 AM PDT · by Kaslin · 1 replies ^ | October 31, 2012 | Walter E. Williams
    The Washington Post (10/25/2012), in giving President Barack Obama an endorsement for another four years, wrote, "Much of the 2012 presidential campaign has dwelt on the past, but the key questions are who could better lead the country during the next four years -- and, most urgently, who is likelier to put the government on a more sound financial footing." The suggestion appears to be that a president is not to be held accountable to his promises and past record and that his past record is no indication of his future behavior. Possibly, the Washington Post people believe that a...
  • Obama's Reelection Will Ensure Complete U.S. Economic Collapse

    10/30/2012 8:36:16 AM PDT · by Kaslin · 24 replies ^ | October 30, 2012 | Rachel Alexander
    This coming presidential election will determine whether the U.S. ends up in another Great Depression or pulls out of the economic slump. There are numerous signs indicating that the country is headed for economic Armageddon under Obama. Some analysts are predicting the crash could come as soon as next year. Obama is following the failed policies of President Herbert Hoover which led to the Great Depression. Conservative commentator Rush Limbaugh says the U.S. is on an unsustainable course; there isn't enough money from taxes to pay everyone lifetime healthcare, lifetime pensions, and hefty incomes. The federal government now spends...
  • The political perfect storm may have already hit the elections

    10/29/2012 6:43:36 AM PDT · by John David Powell · 8 replies
    Digital Journal ^ | Oct. 28, 2012 | John David Powell
    As Big Sandy sets her eyes on New Jersey to deliver Mother Nature’s October Surprise to the nation’s east coast, a political perfect storm may have already hit the nation. Unlike Hurricane Sandy whose every move is tracked and then predicted by a host of computer models, this political perfect storm seems to have formed under the radar of daily tracking polls. The week before the presidential election sees the economy topping the list of voter concerns, with jobs, or the lack of them, sitting right in the center, just like a spider. U.S. labor secretary Hilda Solis ( did...
  • Will The Bottom Fall Out? 15 Signs That Layoffs And Job Losses Are Skyrocketing

    10/28/2012 6:15:05 AM PDT · by SeekAndFind · 7 replies
    TEC ^ | 10/27/2012 | Michael Snyder
    If you still have a good job, you might want to hold on to it very tightly because there are a whole bunch of signs that unemployment in the United States is about to start getting worse again. Over the past several weeks, a substantial number of large corporations have announced disappointing earnings for the third quarter. Many of those large corporations are also loaded up with huge amounts of debt. So what is the solution? Well, the favorite solution on Wall Street these days seems to be to lay off workers. In fact, it is almost turning into...
  • Gaming update: Layoffs everywhere, MOGA controller woes and A Game of Dwarves (Even video games?)

    10/26/2012 8:04:37 PM PDT · by 2ndDivisionVet · 5 replies
    IT World ^ | October 26, 2012 | Peter Smith
    It's been a week of bad news in the gaming world, so lets get through this together. Zynga laid off 5% of their staff this week in an attempt to shore up their bottom line. They closed a Boston office, reduced staff in Austin and have proposed shutting down shops in the UK and Japan. They're sunsetting 13 games and cutting down investment in their title The Ville (a game that is the subject of legal action from EA who claims it copies EA's The Sims Social). I'm not a fan of Zynga's practice of cloning successful games but it's...
  • 950 GMAC Jobs in peril in Waterloo

    10/25/2012 5:34:34 PM PDT · by campg · 2 replies
    Waterloo-Cedar Falls Courier ^ | 10/25/2012 | Jim Offner
    WATERLOO, Iowa --- Nearly 1,000 Waterloo jobs may be on the line in the wake of a decision by bankrupt mortgage company Residential Capital LLC, the parent company of GMAC Mortgage, to sell assets to two firms for $3 billion. On Wednesday the board of directors of New York-based ResCap granted preliminary approval to a $3 billion bid from the team of Ocwen Loan Servicing LLC and Walter Investment Management Corp. for the company’s mortgage servicing and origination business. ResCap and 50 of its subsidiaries filed for Chapter 11 bankruptcy protection in May. The bankruptcy court will consider the proposed...