Keyword: unemployment

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  • Why The Unemployment Rate Is Direct Evidence Of Obama's Economic Failure (pic)

    11/02/2012 10:13:34 AM PDT · by The Looking Spoon · 2 replies
    The Looking Spoon ^ | 11-2-12 | The Looking Spoon
    Whether you accept this "deflated" rate (due to low labor force participation) or not there is no getting around this administrations abject failure on the economy.
  • Unemployment up 170,000 last month, unemployment rate higher today then when Obama took office

    11/02/2012 8:48:18 AM PDT · by Qbert · 10 replies
    Washington Examiner ^ | November 2, 2012 | Conn Carroll
    The Bureau of Labor Statistics released the October jobs report today showing that the labor market has only gotten worse since President Obama was sworn into office. The number of unemployed Americans rose by 170,000 in October and the unemployment rate rose to 7.9 percent. When Obama was inaugurated in January 2009 unemployment was just 7.8 percent. Overall the number of unemployed Americans is up by 209,000 since Obama took office.
  • Long-Term Unemployment Rises in October to 40.6%

    11/02/2012 8:45:13 AM PDT · by xzins · 3 replies
    CNS ^ | November 2, 2012 | Matt Cover
    The long-term unemployment rate rose to 40.6 percent in October, up from September’s level of 40.1 percent of the total unemployed, according to a report from the Bureau of Labor Statistics Friday. Long-term unemployment is unemployment lasting for 27 consecutive weeks or longer, according to BLS. The government reported that just over 5 million people were unemployed for more than six months – 27 weeks – rising from September’s level of 4.8 million. Long-term unemployment has remained elevated since the end of the recession in 2009. In January 2009, when President Obama took office, there were 2.7 million long-term unemployed...
  • 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...
  • DATA SNAP: U.S. Jobless Claims Fall 23K to 369K

    10/25/2012 7:08:41 AM PDT · by SeekAndFind · 14 replies
    NASDAQ ^ | 10/25/2012 | Jeffrey Sparshott and Eric Morath
    <p>WASHINGTON--The number of U.S. workers filing applications for jobless benefits fell last week, suggesting that the labor market continues to slowly improve.</p> <p>Initial jobless claims--a measure of layoffs--dropped by 23,000 to a seasonally adjusted 369,000 in the week ended Oct. 20, the Labor Department said Thursday. Economists surveyed by Dow Jones Newswires had forecast 365,000 new applications for jobless benefits.</p>
  • Attention recent graduates: You may now leave your parents’ basement

    10/24/2012 6:44:31 AM PDT · by SeekAndFind · 8 replies
    Quartz ^ | 10/24/2012 | Matt Philips
    Things are looking up for the lost generation. That unfortunate cohort of students ran smack into the Great Recession upon graduation. As a result, they’ve been forced to bed down with their parents for far too long. Such doubling-up drove the number of new US households to remarkably low levels. From 1997 to 2007, the country created about 1.5 million new households a year. (A household, just so we’re clear, can mean a married or unmarried couple, a family with kids, a few roommates, or two dozen people in a hippie commune, as long as they all share living quarters;...
  • Let Detroit Go Bankrupt? It Already Has [50 years of Democrat rule destroys "Paris of the Midwest"]

    10/24/2012 2:15:57 AM PDT · by Cincinatus' Wife · 27 replies
    Front Page Magazine ^ | October 24, 2012 | Daniel Flynn
    “I’m a son of Detroit,” Mitt Romney confessed during Monday’s presidential debate. “I was born in Detroit. My dad was head of a car company. I like American cars. And I would do nothing to hurt the U.S. auto industry.” But like so many Detroiters, Mitt Romney left before the capital of the U.S. auto industry could hurt him. Detroit is scary. Detroit has just been named the most dangerous city in America. This is the fourth consecutive year that Forbes has bestowed the dishonor upon the Motor City. A few years back, the Bay Area Center for Voting Research...
  • Our current economic problems are the result of bad decisions and flawed plans by President Obama

    10/22/2012 5:34:13 PM PDT · by Stuart C. Jones · 5 replies
    Vote Smart in 2012 Project ^ | October 22, 2012 | Stuart C. Jones
    Before you vote this November, keep these facts in mind: The economic recovery, which began in 2009, is the weakest in more than 70 years. Economic growth since 2009 of 6.8% is the weakest of any recovery since the end of WWII. At this point in previous comebacks the economy had grown an average of 15.5%. Consumer spending since 2009 of 6.5% is the weakest of any economic recovery since the end of WWII. At this point in previous comebacks consumer spending had grown an average of 14%. Hiring since 2009 has replaced 46% of the jobs lost during the...
  • Wisconsin nuclear power plant to be shut down

    10/22/2012 1:22:33 PM PDT · by Jyotishi · 21 replies
    Power Engineering ^ | Monday, October 22, 2012 | None specified
    Dominion (NYSE: D) on Oct. 22 said it plans to close and decommission its 556 MW Kewaunee Power Station in Carlton, Wis., after the company was unable to find a buyer for the nuclear power plant. Pending a grid reliability review by the Midwest Independent Transmission System Operator (MISO), Dominion said the station is expected to cease power production in the second quarter of 2013 and move to safe shutdown. Dominion announced in April 2011 that it would seek to sell Kewaunee as part of a regular review of its portfolio of assets to determine which assets fit strategically and...
  • You Are What Barack Says

    10/22/2012 6:35:19 AM PDT · by Kaslin · 3 replies ^ | October 22, 2012 | Dan Holler
    Remember the old saying “you are what you eat?” Well, in President Obama’s America, you are what the federal government says you are. Throughout last week’s debate, the President constantly referred to what he would do or how the government would take action. While giving lip service to America’s free enterprise system, he said “I also believe that everybody should have a fair shot and everybody should do their fair share and everybody should play by the same rules, because that's how our economy is grown.” Who defines what is a fair shot? President Obama. Who decides if you’re doing...
  • Lauding Obama, Clinton cites 'impatient' Americans

    10/19/2012 9:58:03 PM PDT · by 2ndDivisionVet · 9 replies
    Former President Bill Clinton said Friday that President Barack Obama is facing a tough re-election race because "impatient" Americans haven't fully recognized an economy on the mend. Campaigning for Obama in Green Bay, Wis., Clinton urged voters to stay the course as more signs of a recovery sink in. Clinton said voters should judge Obama on the past three years, in which private sector job growth has made up for lost ground. "This shouldn't be a race," Clinton said. "The only reason it is, is because Americans are impatient on things not made before yesterday and they don't understand why...
  • Unemployment rises sharply

    10/19/2012 3:25:31 PM PDT · by stocksthatgoup · 8 replies
    GOPUSA ^ | 10/18/2012 | Christopher S. Rugaber
    Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase represents a rebound from the previous week's sharp drop. Both swings were largely due to technical factors. The four-week average of applications, a less volatile measure, rose slightly to 365,500, the Labor Department said Thursday. That is still a level consistent with modest hiring. Last week, California reported a large drop in applications, pushing down the overall figure to the lowest since February 2008. This week, it reported a significant increase. The gyrations occurred because it processed applications...
  • 7 Of 10 Battleground States Lost Jobs Under Obama

    10/19/2012 1:40:31 PM PDT · by IBD editorial writer · 9 replies
    Investor's Business Daily ^ | 10/19/12 | John Merline
    Seven out of the 10 presidential toss-up states have lost jobs since President Obama took office, and the unemployment rate is higher today in six of those states than in January 2009, according data released Friday by the Bureau of Labor Statistics. What’s more, six of those states listed as toss-ups by Real Clear Politics have seen their labor force shrink since January 2009, which masks the true size of their unemployment problem. The state data underscore the fact that, despite the recent drop in the national unemployment rate to 7.8%, the nation’s jobs picture remains bleak, particularly in states...
  • California jobless rate slides, but state adds just 8,500 new jobs

    10/19/2012 11:58:49 AM PDT · by SeekAndFind · 6 replies
    Los Angeles Times ^ | 10/19/2012 | Marc Lifsher
    SACRAMENTO -- California's unemployment rate fell to 10.2% in September from 10.6% in August, the second-largest drop in the nation. But just 8,500 net new jobs were created, according to the California Employment Development Department. The two statistics show somewhat different monthly trends because the unemployment rate is based on a survey of households while the total employment number comes from a more accurate check of businesses. The California results tracked national Department of Labor figures, released Oct. 5, that showed the national unemployment rate falling by three-tenths of a percentage point to 7.8% -- its lowest level in 3...
  • Unemployment falls in battleground states ahead of election

    10/19/2012 9:04:21 AM PDT · by SeekAndFind · 21 replies
    The Hill ^ | 10/19/2012 | Bernie Becker
    Several swing states saw their unemployment rate drop in September, the Labor Department reported Friday in the final state-by-state breakdown before the election. Ohio and Florida — two of the most contested battlegrounds in the race for the White House — were among the states to see employment gains. The new data comes just weeks after the Labor Department reported that the unemployment rate had unexpectedly fallen to 7.8 percent in September, the lowest level of President Obama’s term. The economy added a total of 114,000 jobs last month. In all, seven states being contested by Obama and GOP nominee...
  • Obama Washington Wink-Winking like crazy at EPA

    10/19/2012 12:19:46 AM PDT · by Cincinatus' Wife · 13 replies
    The Washington Examiner ^ | October 19, 2012 | Mark Tapscott, Executive Editor
    President Obama is among the slickest practitioners ever of the Washington Wink-Wink -- what professional politicians in both parties do when they say one thing while planning to do something else entirely. There was, for example, Obama's 2008 campaign promise to "cut the federal deficit in half." And that "net federal spending cut" he would achieve by the end of his first term? Anybody think he didn't know then that his first term would explode the deficit and spending to historic highs? Sen. Jim Inhofe, R-Okla., the ranking minority member of the Senate Environment and Public Works Committee, sees more...
  • Calif. official whose agency under-reported unemployment stats was Obama campaign donor

    10/18/2012 9:06:05 PM PDT · by Nachum · 28 replies
    Daily Caller ^ | 10/18/12 | Gregg Re
    Marty Morgenstern, the secretary of the California agency that substantially under-reported unemployment claims last week, contributed to President Barack Obama’s 2008 presidential election campaign, The Daily Caller has learned. On Oct. 11, the federal government reported that weekly jobless claims were down significantly, suggesting a dramatic national increase in economic growth. But within hours, the Bureau of Labor Statistics announced that one major state had failed to fully document jobless claims. Speculation among market watchers and economists initially focused on California, but the state’s Employment Development Department strongly denied that it had failed to properly document the data. “Reports that...
  • Statistical anomaly corrected

    10/18/2012 10:29:37 AM PDT · by trappedincanuckistan · 7 replies
    Human Events ^ | 10/18/12 | John Hayward
    Remember how the Bureau of Labor Statistics put out a bizarrely low jobless claims report last week, producing breathless coast-to-coast media coverage of the lowest claims level in four years? Remember how it turned out they produced this report without having received all of the necessary data? (BLS still won’t say exactly what was missing; it has been theorized that it had something to do with the numbers from California, which delayed calculation of the traditional “seasonal adjustments.” However, the crew at ZeroHedge disputes the California theory, growling that in truth, “nobody at the Department of Labor knows what is...
  • Mud Pies From The Labor Department

    10/18/2012 10:09:14 AM PDT · by trappedincanuckistan · 6 replies
    The American Spectator ^ | 10/18/12 | Ralph R. Reiland
    The funny thing about the Labor Department's monthly unemployment report is that the number-crunching bureaucrats act like they're delivering high carat diamonds when the real worth of what they're reporting is closer to the value of a mud pie. First, a college graduate with a degree in biomedical engineering who gets a $90,000 job in his field is counted exactly the same in the government's unemployment report as a biomedical engineering graduate who can't find a job and is working weekends as a bus boy at Applebee's. Or as the PBS Newshour succinctly stated it, "If you only worked one...
  • Americans for Prosperity Ad

    10/18/2012 7:51:35 AM PDT · by Shery · 3 replies
    Americans for ^ | October 17, 2012 | Unknown
  • Surprise! Jobless claims return to 18-month range …. (California screwed up the numbers last week)

    10/18/2012 7:27:48 AM PDT · by SeekAndFind · 13 replies
    Hotair ^ | 10/18/2012 | Ed Morrissey
    It's funny what happens to a data series when consistency returns to its collection. Last week’s weekly jobless claims numbers dropped dramatically to nearly a four-year low, but later it was discovered that one large state didn't report all of its claims properly. This week, the level returns to the same range we've seen since the spring of 2011: In the week ending October 13, the advance figure for seasonally adjusted initial claims was 388,000, an increase of 46,000 from the previous week's revised figure of 342,000. The 4-week moving average was 365,500, an increase of 750 from the previous...
  • In U.S., Unadjusted Unemployment at 7.3% in Mid-October

    10/17/2012 8:23:54 PM PDT · by chessplayer · 39 replies
    WASHINGTON, D.C. -- U.S. unemployment, as measured by Gallup without seasonal adjustment, is 7.3% in mid-October, down considerably from 7.9% at the end of September and at a new low since Gallup began collecting employment data in January 2010. Gallup's seasonally adjusted unemployment rate is 7.7%, also down from September. October's adjusted mid-month measure is also more than a percentage point lower than October 2011.
  • Obama’s Real Unemployment Rate: 14.7%

    10/18/2012 4:00:21 AM PDT · by Kaslin · 5 replies ^ | October 18, 2012 | Peter Ferrara
    The Bureau of Labor Statistics (BLS) reported last Friday that 114,000 new jobs were created last month, according to its Establishment Survey of business payrolls that has been emphasized by the Obama Administration. That is pitifully weak, especially for what is supposed to be the fourth year of a recovery (the National Bureau of Economic Research scored the recession as officially over in June, 2009). As economist John Lott noted at on October 5, the working age population grew by 206,000 last month. With two-thirds of those working as would be expected during a normal recovery, 138,000 new jobs...
  • Obama at Hofstra: Relatively Alert, Ergo Big Winner

    10/18/2012 12:01:34 AM PDT · by Kaslin · 6 replies ^ | October 17, 2012 | Ann Coulter
    The best question at the second presidential debate came from Michael Jones, an African-American who said: "Mr. President, I voted for you in 2008. What have you done or accomplished to earn my vote in 2012? I'm not that optimistic, as I was in 2008. Most things I need for everyday living are very expensive." To which Obama said: "Are you my half-brother?" Actually, all Obama could say was that he had ended the war in Iraq (while pointlessly escalating the war in Afghanistan) and that Osama bin Laden is dead (and so is our ambassador). Both of which must...
  • Unemployment continuing to fall, Gallup finds

    10/17/2012 6:40:03 PM PDT · by stocksthatgoup · 17 replies
    daily caller ^ | Betsi Fores
    Gallup reported Wednesday a seasonally unadjusted unemployment rate of 7.3 percent in mid-October, far below the Bureau of Labor Statistics’ controversial September rate of 7.9 percent, which is seasonally adjusted. “The decline in unemployment but uptick in the number of Americans working part time but looking for full-time work is likely the result of seasonal hiring, which picks up in the fall for Halloween and continues through the end of the holiday season,” writes Gallup. The seasonally adjusted unemployment rate was 7.7 for the month, according to Gallup, still lower than the BLS number. Gallup’s results were based on its...
  • Gallup: The Unemployment Rate Is Collapsing

    10/17/2012 4:35:52 PM PDT · by blam · 115 replies
    TBi ^ | 10-17-2012 | Joe Weisenthal
    Gallup: The Unemployment Rate Is Collapsing Joe WeisenthalOct. 17, 2012, 11:46 AM More evidence that the official 7.8% unemployment rate is not the wild outlier people initially thought. This just in from Gallup: -------- WASHINGTON, D.C. -- U.S. unemployment, as measured by Gallup without seasonal adjustment, is 7.3% in mid-October, down considerably from 7.9% at the end of September and at a new low since Gallup began collecting employment data in January 2010. Gallup's seasonally adjusted unemployment rate is 7.7%, also down from September. October's adjusted mid-month measure is also more than a percentage point lower than October 2011. These...
  • The Debate Romney Won: Strong moments on key issues

    10/17/2012 10:45:19 AM PDT · by 2ndDivisionVet · 3 replies
    BuzzFeed ^ | October 17, 2012 | McKay Coppins and Zeke Miller
    HEMPSTEAD, N.Y. — Bullish Democrats are calling it a blow-out. Pundits are giving the president the slight edge. And the late-night insta-polls splashed across cable news chyrons initially appeared to give Obama a solid, if not game-changing, win. But the Romney campaign spent the hours after the contest contending that the debate strengthened their position — and they may have a point. A CNN/ORC International poll published late Tuesday identified Obama has the overall winner, 46 percent to 39 percent. But the poll also showed that Romney won on virtually every issue he's chosen to place at the center of...
  • Memo To Michelle: Here's What A 'Huge Recovery' Looks Like

    10/17/2012 5:06:16 AM PDT · by IBD editorial writer · 8 replies
    Investor's Business Daily ^ | 10/16/2012 | IBD Staff
    Economy: Michelle Obama recently described this recovery as "huge." Maybe she forgot what decade it is. The Reagan recovery in the '80s was huge. But the one her husband's policies have given us? Not so much. A Washington, D.C., hip-hop station host asked Michelle to "in your words, tell us what you think the state of the union is in right now?" Her answer: "I mean, we are seeing right now that we are in the midst of a huge recovery. Right? Because of what this president has done."
  • Labor market is weaker than it looks: Official statistics hide large number of jobless

    10/17/2012 3:21:14 AM PDT · by 2ndDivisionVet · 4 replies
    Market Watch ^ | October 16, 2012 | Irwin Kellner
    If you want to know just how bad the labor market really is, then you need to multiply September’s jobless rate by three. For starters, let’s recall that last month’s reported rate of unemployment was 7.8%. This was 0.3 points lower than in August and the lowest since the beginning of 2009. However, it was still a whopping three percentage points higher than the average rate posted in 2007. In other words, September’s unemployment rate may be better than a poke in the eye with a sharp stick, but it was not greeted with cheers by many households. This is...
  • Obama Campaign Fears Election-Eve Jobs Dip ('Thankfully, most people will have voted by then')

    10/16/2012 12:27:01 PM PDT · by SeekAndFind · 10 replies
    Buzzfeed ^ | 10/16/2012 | Zeke Miller
    View this image › Posted Oct 16, 2012 12:24pm EDT WILLIAMSBURG, Va. — Last week’s jobs report provided President Barack Obama with perhaps the only bit of good news since his disastrous debate against Mitt Romney, but there are suggestions that the figure could wind up having been too much, too soon for Obama.The unexpected decline in the unemployment rate based off the monthly household survey from 8.1 percent to 7.8 percent was a needed boost for Obama at one the worst moments of his political career. The next one is due out at 8:30 a.m. on November 2,...
  • Destruction of the US Dollar

    10/15/2012 2:04:32 PM PDT · by Tolerance Sucks Rocks · 11 replies
    Patriot Action Network ^ | October 14, 2012 | Roger O'Daniel
    The picture below shows $15 trillion dollars worth of $100 bills on $10 million dollar pallets stacked on top of each other over an area that is one third larger than a regulation football field. An electronics van is parked between the stack and the Statue of Liberty. A single $100 million dollar pallet rests in front of the truck’s cab. See it?Recently, I reported that the Federal Reserve Bank (FED) secretly gave ten trillion dollars of interest-free loans to over a dozen European banks to shore up the Euro and keep them financially solvent. I later found out that...