US job losses are double expected figure

Guardian News ^ | 6 August 2010 | Katie Allen

[george76]

The dismal US job figures came as the National Institute of Economic and Social Research predicted a protracted depression for the UK economy.

Across the Atlantic talk of a double-dip recession was revived when the government revealed 131,000 jobs were lost last month. That dwarfed forecasts for a fall of 65,000. June's drop was also revised to a far steeper 221,000 from 125,000.

The July drop was mainly due to work by temporary staff on the government census coming to an end. But private hiring was also weaker than expected.

The spectre of a double-dip recession was also raised in the UK this week with a closely watched business survey suggesting firms are already taking a hit

[calex59]

But yet, miraculously, the unemployment rate stayed the same at 9.5 %. Makes you think, somehow, that they cooked the books to make Bozo look better. /SAR

[BenLurkin]

"UNEXPECTED"

[george76]

The books are cooked and the enemedia is doing their part

[LibFreeOrDie]

131,000 jobs were lost last month. That dwarfed forecasts for a fall of 65,000. June's drop was also revised to a far steeper 221,000 from 125,000.

How does the gubmint keep underestimating by so much month after month? The actual losses for 2 months in a row are double the estimates.

[Jack Hydrazine]

Completely UNEXPECTED!!!!

[Dilbert San Diego]

And remember, the liberals, MSM, and administration officials have been steering us away from the unemployment rate as a measure of the job market. Instead they have emphasized “jobs created”, “jobs saved”, and “jobs related to the stimulus”.

Well, if the jobs situation is bad based on their own criteria, they will have to come up with some other way to show that the stimulus is working, it’s recovery summer, and all that.

[hometoroost]

I think the administration picked the wrong issue and the wrong Mayberry character for an ad campaign. They should have picked Jim Neighbors to do the full Gomer Pyle announcing the unemploymenet figures. “Surprise! Surprise! Surprise!”

[massmike]

[Jet Jaguar]

Ping

[stephenjohnbanker]

Time to short the NYSE again....

[TexasFreeper2009]

Obama fiddles and the wookie shops while the world economy burns.

[gundog]

US job losses are surprisingly double expected figure.

Fixed.

[Liberty Valance]

Unexpected!

[stevem]

Makes you think, somehow, that they cooked the books to make Bozo look better.

No, but you have to consider the zero (Pronounced 'O') factor. Unemployment actually went up 3%. When you multiply that by zero (Pornounced 'O'), you get no change.

[hinckley buzzard]

Trust NO gubbermint press release or so-called data without independent verification. It is all coming from the Ministry of Truth now, not the real world.