Posted on 08/05/2011 5:48:52 AM PDT by God luvs America
below the expected 120K jobs created...
They were setting the whole thing up!
Don't know yet, but these numbers, at least on the surface, are slightly better than expected. I'm guessing them market does pretty decent today.
WASHINGTON (MarketWatch) - The U.S. economy added 117,000 jobs in July and an even larger 154,000 in the private sector while the unemployment rate fell to 9.1% from 9.2%, partly because 193,000 people dropped out of the labor force, according to the latest government data. Job gains in May and June were also revised up by a combined 56,000, the Labor Department reported Friday.
- 117,000 jobs in July.
- 154,000 in the private sector.
- Unemployment rate fell to 9.1% from 9.2%, partly because 193,000 people dropped out of the labor force.
- Job gains in May and June were also revised up by a combined 56,000.
- Average hourly wages rose 10 cents, or 0.4%, to $23.13.
- The workweek was unchanged at 34.3 hours.
- Economists surveyed by MarketWatch had projected a 75,000 increase in jobs in July, with the unemployment rate holding steady at 9.2%.
- Average hourly wages were expected to rise 0.2%
S+P futures up about 15 points at the moment.
What’s stopping members of the tea party caucus?
That’s a lot of landscaping jobs.
The consensus was 85.
A-I don’t trust the numbers out of this Admin. and fully expect them to revised downward.
B-Drop to 9.1% due to people leaving work force. keep in mind July set a new record for layoffs (announced and actual) which will be reflected in later numbers.
Yes. It is cooked in the pressure cooker. Watch out NEXT week when the jobs are revised down and the UI no. is revised UP.
BTW, How many of the new jobs were created in Wisconsin where sanity has finally taken hold?
the 200k out of labor force will be support by the 120k with new jobs... obamanomics
They’ve got to keep assuming more and more people are dropping out of the workforce altogether, since it takes about 160K new jobs a month just to keep pace with population growth.
Yet, they come in with less than 3/4ths of that and say the unemployment rate has gone down.
Futures were way down, now they skyrocket when they announced 200k new jobs and a drop in the unemployment.
Call me cynical but this doesn’t jive at all with the uptick in unemployment we’ve been hearing about at all. I just have to ask myself, would this administration demand good numbers to keep the markets from falling further?
You bet your a** I think they would, and I want to see the raw data from an independent source.
“Expect a “revised” figure in a week or ten days.”
And here’s some additional good news: the weekly chocolate ration is being increased to 25 grams.
Amazing times.
The initial spin from media is celebration at a 9.1% headline number.
Happy Days Are Here Again!
And 193,000 dropped out of the labor force (home to mama).
It is called “treading water”.
That’s why everyone needs to look at the U6 number which still includes those dropped out. Unfortunately I can’t get to that page on the BLS site right now.........
You are correct
BTW, they set the number low, IMHO, (additional jobs number) so anything over the “expected” estimate, would be totally “unexpected” and good news! At least there was no contraction....but, will probably be adjusted downward in the next few weeks.
Call me cynical, I dont believe anyone anything coming out of Washington.
Same here. I have absolutely no faith or trust in Washington.
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