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

Skip to comments.

U.S. unemployment rate drops to 6-year low at 5.9%
CRAIN's CLEVELAND BUSINESS ^ | 10/03/2014 | SCOTT SUTTELL

Posted on 10/03/2014 7:05:04 AM PDT by SeekAndFind

The U.S. unemployment rate is below 6% for the first time in more than six years.

The U.S. Bureau of Labor Statistics reported Friday morning, Oct. 3, that the economy added 248,000 jobs in September, pushing the unemployment rate down to 5.9% from 6.1% in August. The unemployment rate hadn’t been below the 6% mark since July 2008, according to BLS historical data.

Employment increased most strongly in professional and business services, retail trade and health care, the government said.

The government said the number of people unemployed in September declined by 329,000 to 9.3 million. During the last year, the U.S. unemployment rate has fallen by 1.3 percentage points, from 7.2% in September 2013, and the number of people unemployed has dropped by 1.9 million.

The payroll employment gain of 248,000 in September exceeded the average monthly gain of 213,000 over the prior 12 months.

BLS said professional and business services added 81,000 jobs in September, compared with an average gain of 56,000 per month over the prior 12 months. Employment in retail trade rose by 35,000 in September. Health care added 23,000 jobs in September, in line with the prior 12-month average gain of 20,000 jobs per month.

The report indicated that the previous two months look better, too, from a job-creation perspective.

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


TOPICS: Business/Economy; Culture/Society; Front Page News
KEYWORDS: jobs; obamarecession; obamataxhikes; unemployment; unenjoyment
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-75 next last
To: Cringing Negativism Network
All we are doing, is buying way too much stuff, imported from China.

I agree with you.

In the same way as bringing in low wage illegals drives wages down, so does bringing in low price cheapo goods. Chinese low wage workers drive our wages down.

I would rather bring the textile industry back to the USA, and pay more for a few quality shirts and live with fewer in my closet. The cheapo things with the tiniest snag develop holes after just a few months use.

41 posted on 10/03/2014 7:34:15 AM PDT by xzins ( Retired Army Chaplain and Proud of It! Those who truly support our troops pray for victory!)
[ Post Reply | Private Reply | To 4 | View Replies]

To: SeekAndFind

I have been expecting this for months.

It is early in the month but likely the last good news to be expected by Obama.

His recent speeches on the economy were forshadowing the good news that will prove him right. He is a totally corrupt scoundrel that is bad to the core


42 posted on 10/03/2014 7:34:33 AM PDT by bert ((K.E.; N.P.; GOPc.;+12 ..... Obama is public enemy #1)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RckyRaCoCo
Yes, a friend of mine who lost his near 6 figure salary job 2 years ago...just got a job...at Lowes.

I am in a similar situation. Retired from the Corps and found work making right at 100k but lost that when the contract expired. Now I am working for 1/3 that amount.

43 posted on 10/03/2014 7:35:19 AM PDT by rjsimmon (The Tree of Liberty Thirsts)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Starboard

The NY Reserve has a study out (there’s a thread about it here on FR, somewhere) tying the Republican refusal to extend unemployment benefits to the decline in unemployment.

Thats something that Republican candidates can and should take advantage of. Because there’s no way for the Dems to fight it. Here’s why:

Unemployment benefits are tied to people actually looking for work, right? So when the benefits were ended, a lot of the unemployed lost the incentive to even conduct cursory job searches.

Once they did that they’re no longer, technically unemployed. They’ve left the workforce. Driving down both the unemployment figure AND the labor force participation rate.

Which makes this an easy issue for Republicans to run with. They can take credit for the lower unemployment numbers, and the only way for the Dems to actually respond is to point out that those numbers are BS and draw focus to the participation rate.

Which obliterates Dem claims about an improving economy ...


44 posted on 10/03/2014 7:35:19 AM PDT by tanknetter
[ Post Reply | Private Reply | To 34 | View Replies]

To: E. Pluribus Unum
Stop it you're killin' me I tell ya!

The Brown Clown Comedy Show on every Thursday at 9.
45 posted on 10/03/2014 7:37:23 AM PDT by rhubarbk (It's official, I'm suffering from Obama fatigue!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: wally_bert
Nah, like me he despises the usurper.

It's an Obama job, under 40 hrs, no bennies.

46 posted on 10/03/2014 7:37:45 AM PDT by RckyRaCoCo (Shall Not Be Infringed)
[ Post Reply | Private Reply | To 40 | View Replies]

To: bert

Labor Force Statistics from the Current Population Survey


Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over



Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9  
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0  
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4  
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0  
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8  
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6  
2010 64.8 64.9 64.9 65.2 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3  
2011 64.2 64.2 64.2 64.2 64.2 64.0 64.0 64.1 64.2 64.1 64.1 64.0  
2012 63.7 63.9 63.8 63.7 63.8 63.8 63.7 63.5 63.6 63.7 63.6 63.6  
2013 63.6 63.5 63.3 63.4 63.4 63.5 63.4 63.2 63.2 62.8 63.0 62.8  
2014 63.0 63.0 63.2 62.8 62.8 62.8 62.9 62.8 62.7        

47 posted on 10/03/2014 7:39:22 AM PDT by SeekAndFind (If at first you don't succeed, put it out for beta test.)
[ Post Reply | Private Reply | To 42 | View Replies]

To: Lazamataz

Laz, don’t give ‘em any ideas . . . PLEASE!


48 posted on 10/03/2014 7:42:52 AM PDT by rhubarbk (It's official, I'm suffering from Obama fatigue!)
[ Post Reply | Private Reply | To 36 | View Replies]

To: Cringing Negativism Network

yes and yes


49 posted on 10/03/2014 7:43:51 AM PDT by palmer (This comment is not approved or cleared by FDA)
[ Post Reply | Private Reply | To 4 | View Replies]

To: JParris

The monthly added jobs are net. They are needed to keep up with new young people entering the work force and immigration. Of course we still have a ton of people leaving the work force, many involuntarily.


50 posted on 10/03/2014 7:46:23 AM PDT by palmer (This comment is not approved or cleared by FDA)
[ Post Reply | Private Reply | To 17 | View Replies]

To: SeekAndFind

Unemployment down, gas prices down, what’s going on?

Oh, yeah, there’s an election coming soon, and Rats are in trouble.


51 posted on 10/03/2014 7:49:07 AM PDT by Fresh Wind (The last remnants of the Old Republic have been swept away.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: tanknetter

Which makes this an easy issue for Republicans to run with.

***********
I completely agree with you but I don’t have confidence that the clueless Republicans will ever leverage your argument. For some reason, they just don’t ever play to win.


52 posted on 10/03/2014 7:55:39 AM PDT by Starboard
[ Post Reply | Private Reply | To 44 | View Replies]

To: RckyRaCoCo

Any despised of the 0 is ok in my book. Hope things will get better. I had a couple tough years myself about 3 years ago. Grateful for anything decent.


53 posted on 10/03/2014 7:59:11 AM PDT by wally_bert (There are no winners in a game of losers. I'm Tommy Joyce, welcome to the Oriental Lounge.)
[ Post Reply | Private Reply | To 46 | View Replies]

To: SeekAndFind

54 posted on 10/03/2014 7:59:40 AM PDT by fishtank (The denial of original sin is the root of liberalism.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

A this rate the numbers will be in the negative soon.


55 posted on 10/03/2014 7:59:43 AM PDT by going hot (Happiness is a momma deuce)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

Torture statistics long enough and they’ll say anything you want.


56 posted on 10/03/2014 8:01:43 AM PDT by Personal Responsibility (I'd use the /S tag but is it really necessary?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind

The problem is the way the Unemployment number is derived. Once a person is past 99(!) weeks of unemployment, they no longer count - they’re treated as if they got a job.

To be completely Orwellian, 100 weeks after the entire country lost their jobs, the unemployment number would be 0.0%!


57 posted on 10/03/2014 8:03:58 AM PDT by Personal Responsibility (I'd use the /S tag but is it really necessary?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TheConservator

92 million unemployed out of a population of 320 million yet they say 5.9%. I guess they are using common core math.


58 posted on 10/03/2014 8:08:21 AM PDT by GrandJediMasterYoda (Obama Will Say 'War on Women' But Not 'War on ISIS)
[ Post Reply | Private Reply | To 3 | View Replies]

To: TheConservator
What a coincidence, yesterday obummer said we need to focus on the economy.

Similar coincidences just before elections have been common for this administration including last year's 8 million healthcare enrollment magically achieved on the last possible day. And who can forget the unemployment rate suddenly improving just before Nov 2012??

Unfortunately though you can fool all of the uniformed all of the time.

59 posted on 10/03/2014 8:09:19 AM PDT by pfflier
[ Post Reply | Private Reply | To 3 | View Replies]

To: Lazamataz

I see what you did there!


60 posted on 10/03/2014 8:09:55 AM PDT by LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)
[ Post Reply | Private Reply | To 36 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-75 next 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