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

Skip to comments.

Unnemployment rate unexpectedly soars to 6.1%
CBS Marketwatch ^ | 09/05/2008 | Greg Robb

Posted on 09/05/2008 5:41:48 AM PDT by Glenn

Nonfarm payrolls decreased by 84,000, the Labor Department reported Friday. These are more job losses than the 75,000 drop expected by economists surveyed by MarketWatch.

The factory sector, especially the auto industry, shed jobs in August. Employment services, considered a bell whether of future labor market trends, also had sharp losses.


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


TOPICS: Business/Economy; News/Current Events
KEYWORDS: cookedthebooks; economy; octobersurprise; seebsnews; zogbyism
Navigation: use the links below to view more comments.
first previous 1-2021-4041-60 last
To: ThePythonicCow

I would say this...the 8000 number is quite small. Yes, it went in a negative direction, but on the other hand the numbers are miniscule considering the size of our economy. In addition, it could be revised later on...have to wait and see.

We have had nothing else to indicate a recession. Which, remember, is back to back quarters with negative GDP.

What we have had is sluggishness. Prolonged sluggishness. However, the most recent growth numbers were trending upwards.

Finally, as another mentioned, these are lagging indications. Unemployment is always the last thing to show the ill effects of sluggish or negative growth GDP. It’s like looking in a rear view mirror.

And it will always be the last thing to show a positive turnaround.

Doesn’t mean the sky is falling.

I get so tired of the media saying that something was “unexpected” or “surprising” or “larger or smaller than predicted”.

How stupid is that?

There’s no way to hit these predictions on the head. Fact is, some of the recent data has been much better than anyone “expected”, so if this one is worse than expected, the whole thing evens out.


41 posted on 09/05/2008 6:14:06 AM PDT by txrangerette (Just say "no" to the Obama Cult.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Tarpon
TVA announced that it was increasing rates 20% for energy.Biggest increase ever,while at the same time,giving huge bonuses to contractors who completed nuclear reactor work well behind schedule.

Since 2003,TVA has increased rates by 57%.This,of course,gets passed on directly to the consumer,be it residential or commercial.It's not just fuel increases for employers,but electric bill increases as well.A double whammy for energy consumers.

42 posted on 09/05/2008 6:15:18 AM PDT by quack
[ Post Reply | Private Reply | To 29 | View Replies]

To: quack

We got slapped with a 20% rate increase starting September.

For some reason they all seem to think increasing people’s cost by 20% is a good number.

It’s only going to increase the “drill now baby” push.


43 posted on 09/05/2008 6:18:50 AM PDT by Tarpon (Three things matter when selecting a President - character, character and character.)
[ Post Reply | Private Reply | To 42 | View Replies]

To: Glenn

This is near full employment and I know of only a few people who have lost jobs. This number has no meaning to me.


44 posted on 09/05/2008 6:19:21 AM PDT by cw35
[ Post Reply | Private Reply | To 1 | View Replies]

To: Glenn

You want to increase the number of jobs in America?

Start more domestic oil drilling, building more oil refineries, more nuclear power plants and deport the illegal aliens who are taking away jobs that Americans could easily fill...for a fair market wage.

It ain’t rocket science!

Next case...


45 posted on 09/05/2008 6:21:06 AM PDT by kellynla (Freedom of speech makes it easier to spot the idiots! Semper Fi!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Glenn

” MINIMUM WAGE INCREASE RAISES JOBLESS RATE” there fixed it


46 posted on 09/05/2008 6:22:41 AM PDT by Garvin (Does Liberalisim make you insane, or does insanity make you a Liberal?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: txrangerette
If you take that as the definition of a recession, then yes it is not yet a recession.

I don't trust key government stats.

47 posted on 09/05/2008 6:24:46 AM PDT by ThePythonicCow (By their false faith in Man as God, the left would destroy us. They call this faith change.)
[ Post Reply | Private Reply | To 41 | View Replies]

To: Glenn

>>The factory sector, especially the auto industry, shed jobs in August.<<

Nothing new here. August is when auto plants shut down for model year changeovers.


48 posted on 09/05/2008 6:25:08 AM PDT by NTHockey (Rules of engagement #1: Take no prisoners.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kellynla

You want more jobs?

Cut corporate tax rates

Reduce mandates on ethanol based fuel sources

Open areas for drilling and build nuke plants

Reduce government spending by 5% and reduce marginal tax rates again


49 posted on 09/05/2008 6:25:20 AM PDT by misterrob (Obama-Does America Need Another Jimmy Carter?)
[ Post Reply | Private Reply | To 45 | View Replies]

To: Glenn

and one last thing before I’m off to work here...
want to decrease the unemployment level and make more jobs available to AMERICANS....start fining employers BIG TIME who hire illegals!!!


50 posted on 09/05/2008 6:26:46 AM PDT by kellynla (Freedom of speech makes it easier to spot the idiots! Semper Fi!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Glenn

Tax hike on job creators/wealth anyone? /sarc

This country needs to think and snap out of this celebrity trance that it is in.


51 posted on 09/05/2008 6:28:39 AM PDT by Finalapproach29er (Democrats still want to Impeach Pres. Bush and/or VP Cheney; keep your eye on these House hearings.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: cw35
Depends on where you live and work.

I guess you don't live in Detroit, nor work in the financial district in Manhattan, or sell mortgages, or build houses, or work retail in a shopping mall or at one of many closed Starbucks or ...

Enjoy.

False negativism is when the other guy loses his job.
A recession is when you lose your job. <grin>

52 posted on 09/05/2008 6:29:24 AM PDT by ThePythonicCow (By their false faith in Man as God, the left would destroy us. They call this faith change.)
[ Post Reply | Private Reply | To 44 | View Replies]

To: txrangerette
That part of your rant I agree with.
53 posted on 09/05/2008 6:32:29 AM PDT by ThePythonicCow (By their false faith in Man as God, the left would destroy us. They call this faith change.)
[ Post Reply | Private Reply | To 41 | View Replies]

To: cw35

Nor do I guess you work in travel, hotels, airlines or SUV sales ...


54 posted on 09/05/2008 6:35:54 AM PDT by ThePythonicCow (By their false faith in Man as God, the left would destroy us. They call this faith change.)
[ Post Reply | Private Reply | To 52 | View Replies]

To: Glenn
Let's see: Before Democrats took over house and senate (December 06), unemployment was 4.5%. Not even two years later, gas prices have doubled and unemployment is 6.1%. We DO need change!!! Our country was on much better footing before the American people gave up HOPE in 2006 and created the wrong kind of CHANGE. We do not need four more years of Democrat control! Look what they have done in just less than two years. WE NEED CHANGE WE CAN BELIEVE IN! VOTE McCAIN / PALIN to RESTORE AMERICA!
55 posted on 09/05/2008 6:56:19 AM PDT by agenda_express
[ Post Reply | Private Reply | To 1 | View Replies]

To: Glenn

Because of Democrats in Congress and their stubbornness, we have much higher fuel prices that force all services and goods higher. No doubt businesses see less business if you can afford to get there, you have no money to spend there. Now some think that Obama raising corporate taxes will help by driving more companies out of this country. And the MSM will lay blame where?


56 posted on 09/05/2008 7:16:47 AM PDT by nclaurel (I think therefore I vote Republican.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Glenn

Perfect time to raise taxes. /s


57 posted on 09/05/2008 7:41:44 AM PDT by Joan Kerrey
[ Post Reply | Private Reply | To 1 | View Replies]

To: ThePythonicCow

You gloomy doomer! Don’t be lying to the good folks of this forum. Trying to pretend we are in a recession to get Hitlery elected. This is the best economy since WWII. Manufacturing is booming. Housing is going up like wildflowers. Wall Street is on a tear. Consumers are consuming and business is just booming!!! With the international community decoupled from the USA, look for exports to double next month and the month after.

You are just a doom and gloomer trying to talk down the economy. Don’t be fooled! There is NOOOOOOOOO recession. It is just a dirty lie by the evil MSM! Don’t believe it.

Best time to buy... EEEEEEEEEVVVVVVVVVVVVEEEEEEEEEEERRRRRRRRRR!!!!!!!!!!!!


58 posted on 09/06/2008 1:17:05 AM PDT by Freedom_Is_Not_Free
[ Post Reply | Private Reply | To 22 | View Replies]

To: Red Badger

And I remember when 6.1% meant there were REALLY only 6.1% out of work, not undercounted to skip all the people who quit looking, the part time workers who can’t find a full time job, all the private “contractors” out of work who are undercounted, all the people forced into retirement by layoffs.

Yep, I remember when 6.1% unemployment really was 6.1% and when 5.6% inflation really was 5.6% inflation.


59 posted on 09/06/2008 1:19:46 AM PDT by Freedom_Is_Not_Free
[ Post Reply | Private Reply | To 32 | View Replies]

To: Cracker Jack

I assume you heard the revised numbers for June and July, with July’s job loss increased by 9,000 and June’s job loss increased by a whopping 49,000 to 100,000?

So much for the idea that the revised numbers always show less unemployment.

http://www.247wallst.com/2008/09/unemployment-so.html


60 posted on 09/06/2008 1:26:15 AM PDT by Freedom_Is_Not_Free
[ Post Reply | Private Reply | To 36 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-60 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