9.1% Unemployment Rate Holds Steady

Bureau of Labor Statistics ^ | 10-07-2011 | Staff

[xzins]

This is terrible news and a very self-serving title by the executive branch, Dept of Labor Stats.

“Holds Steady” actually sounds good, but this is awful.

One missed item, September is the time when stores begin gearing up for Christmas a few short weeks away.

Most importantly, these numbers hide TWO very important categories:

1. Discouraged Workers: one MILLION people gave up...defined as didn’t believe there was a job and had looked for work in the last 12 months but not in the most recent 4 weeks.

2. 1.5 million MORE “unattached” workers hadn’t looked in the last four weeks due to school or family reasons.

IN OTHER WORDS, we had a 9.1 inflation rate with 14 million unemployed and they didn’t bother to count these 2.5 million who had dropped out, not because they didn’t want a job, but because they didn’t think there WAS a job.

That means a more real report would say 10.7%, and that BEFORE they counted the Underemployed 9 million people and the long-term unemployed.

This is terrible news.

9.1 ONLY because of a huge number of disaffected workers dropped out.

[tobyhill]

If I were to accept the premise of these numbers then why do we need Obama’s “Jobs Bill”?

[tobyhill]

If you don't count the striking Verizon Workers that were actually still employed then there was only 58,000 jobs created when “expert economist” was expecting 61,000. When they made their guess, they didn't know that the Verizon Strike would have been ended now.

[cableguymn]

That and their ridiculous Birth/Death numbers keep it around 9%

[Road Warrior ‘04]

Some of the added jobs are Verizon workers who went on strike, applied for unemployment, and then went back to work after the strike.

[moose-matson]

Some of the added jobs are Verizon workers who went on strike, applied for unemployment, and then went back to work after the strike.

===========================================

And now their union (CWA) supports the Occupy people.

[socialism_stinX]

I listen to CNBC throughout my entire work day and overall I think its coverage is slightly on the conservative side, because the reporters who talk on CNBC are very knowledgeable about business and finance and thus they are not like the liberal dolts who report on the evening news. CNBC is a big breath of fresh air compared to the evening news shows on the alphabet networks, which I haven’t watched for more than five minutes at a time in years. I just can’t stand the obvious heavy liberal bias on the MSM evening news.

If the GOP doesn’t win the White House next year and completely repeal the disastrous Obamacare law, I predict unemployment will hold steady around 9% until 2013 when it will surprisingly increase to 11% as corporate managers react to the Obamacare law by laying off millions of workers as they launch a furious automation campaign and substitute capital for labor. If Obamacare is not repealed, we will see a full-scale rebellion against Washington and the repressive Obamacare law, especially in smaller companies which cannot afford the corporate staff to handle all the regulatory filings, legal problems, and administrative hassle caused by the oppressive Obama regime. Smaller companies are going to lay off huge numbers of workers, drop marginal customers, replace workers with computers and high-tech machinery, and absolutely minimize the number of employees in their companies as they try to minimize the huge regulatory costs and massive management headaches that Obamacare will surely cause. Ultimately, if Obamacare is not repealed completely, this rebellion by business will force big changes in this disastrous legislation that even Obama will have to sign, if somehow he does not lose the election next year (and I pray that the GOP wins.)

[SeekAndFind]

The DOL does not count people who are NOT LOOKING ( have given up on the job search ).

U6 is a measure of those who “would like” and are able to work, but have not looked for work recently and Part time workers who want to work full time, but cannot due to economic reasons.

That Figure is in double digits.

See here from Reuters for latest figures :

http://blogs.reuters.com/felix-salmon/2011/10/07/unemployments-here-to-stay/

EXCERPT:

There’s no particularly good news in these numbers. For every glimmer of good news, like the upward revisions to previous reports totaling 100,000 new jobs or so, there’s an offsetting piece of bad news, like the broad U6 unemployment rate jumping up to 16.5% from 16.2%.

And the number of people unemployed for more than six months is now 6.24 million — up by 208,000. The long-term unemployed — the least employable of the unemployed, and the most intractable problem in terms of getting America back to work — are now 44.6% of the total, up from 42.9% last month, and 41.8% a year ago.

[socialism_stinX]

Another reason why corporations will absolutely minimize their number of employee if Obamacare is not repealed completely: it’s very simple...the Obamacare law seizes control of corporate health care costs and takes control of those costs away from corporate managers. This outrageous intrusion into corporate management creates a major financial risk for business—the risk of rising uncontrolled health care costs dictated by Washington D.C. Business is going to naturally respond to that risk by laying off more workers and absolutely minimizing headcount in all job functions. The repressive Obamcare law will cause further increased economic disaster if it is not completely repealed and replaced early in 2013.

[SpringtoLiberty]

We know they are lying to us more everyday.

We know they are taking away our liberty everyday.

We know they are statists intent on destroying freedom here and around the world.

The question is, what are we going to do about?

[Kartographer]

OBAMAVILLE

Gett’n a head fake,
watchin' msn’s take;
All of their pundits oozing foul oil.
Clean’n my six gun on my front porch swing.
Felling my blood--
It’s beginnin' to boil.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know it's Obama’s fault.

There’s no rhyme or reason,
They are all commitin’ treason
With nothing to show but a brand new tax or two.
But they are real beauties,
Despotic duties, how they got passed
I haven't a clue.

Wasted away again in Obamaville,
Searchin' for a job so I can earn my salt.
Some people claim that it’s Bush we should blame,
Now I think,-- hell with them it’s Obama’s fault.

I blew out my flip flop,
Stepped on a pop top;
Cut my heel, but I just cruise on back home.
Because no medical care will the doctors render
They say there’s little service I can tender
And there’s no need for me to hang on.

Wasted away again in Obamaville
Searchin' for a job so I can earn my salt.
Some people claim that Bush is to blame,
But I know, it's my own damn fault.
Yes, and some people claim that Bush is to blame,
And I know because of my vote it's my own damn fault damn fault.

[zzeeman]

Comparing CNBC to MSM evening news is like saying a street mugger is better than a serial killer. Try Fox Business News (FBN) for a clearer (though not perfect) view of reality. (If you don't get it, "Demand IT!")

Also, check out shadowstats.com for more realistic economic data.

[treetopsandroofs]

Yes, but he kept high unemployment “steady”.

Heil Hussein!

[Reagan Man]

The beat goes on!

[concerned about politics]

How in the heck it can be this low when there was 400+ layoffs the entire month??

They say the employment number went up to "103,000 new jobs".
Well, that's not exactly true. The Verison union went on strike a short while back. They got to sign up for unemployment, but before these numbers came out, they went back to work. They were counted as "new jobs" - 45,000 of them! They're not new jobs at all, but on paper, that's another story.
The real number is only 58,000 "new jobs", but September lost more jobs than any other month this year along with them. The weekly number is not being reported this week, because they're saying their computers had a glitch, so the numbers won't be coming out this time. How convenient!

(They're fudging the numbers. Unemployment is 16.5% (at a minimum). During the firsts depression in 1920, it was only about 13%.)

Things aren't as rosy as they seem. These numbers are bad, but imagine if they reported the real numbers! People would panic.
The protests in NYC have no message, because there really isn't one. Those kids know something stinks in Denmark, but they're not sure who to blame. All they know is their future has been spent. They want their "secure feeling" back, but know it won't be coming back soon. They're frightened - along with everyone else. (One word - Obomanomics.)

[COUNTrecount]

Bump

[Roccus]

This, of course, includes the return to work of soe 45,000 Verizon workers.

Since the Verizon strike began AND ended in August, how could it possibly effect ANY September numbers?

[ScottinVA]

Since the Verizon strike began AND ended in August, how could it possibly effect ANY September numbers?

Not sure... it was quoted in a couple news sources this a.m. and yesterday.

[tnlibertarian]

Since April, the rate has held in a narrow range from 9.0 to 9.2 percent.

Swings in first-time filers, swings in monthly job growth, wild swings in the Dow and commodities, but the unemployment rate stays the same. It doesn't stay this steady in a normal, smooth economy. More proof that they are manipulating the denominator to get the result they want. They are hoping the economy will start to recover, so they can slowly increase the denominator until their manipulation is no longer necessary.

[Red Badger]

“THE BEATINGS WILL CONTINUE UNTIL MORALE IMPROVES.”.............