Jobless rate drops to lowest in almost 3 years

msnbc.com ^ | February 3, 2012 | msnbc.com news services

[John W]

The U.S. economy produced another solid month of job gains in January, offering a hopeful sign for hiring in the year ahead.

Employers added a net 243,000 jobs last month, the Labor Department reported Friday. That’s higher than December, when employers added a net 200,000 jobs, and it marked the seventh straight month in which at least 100,000 jobs were created. That hasn't happened since 2005.

The nation’s unemployment rate fell to 8.3 percent in January from 8.5 percent in the prior month. The unemployment rate has fallen for the past five months and is now at its lowest level in nearly three years.

[DuncanWaring]

[angcat]

WHAT BS!

[FishinTX]

See QE worked. We need more stimulus. /s

[DuncanWaring]

You might think that's how they do it, but it's not.

Well then enlighten us ... how do they do it?

[JohnG45]

I no longer trust ANYTHING out of our government. America has no representation.

"As soon as they get here, we need to co-opt them." - Trent Lott

[greenhornet68]

[PubliusMM]

The manipulation of employment data is one of the biggest ‘known’ lies in the world of government stats (regardless of the party in control).
And, still people drink the Kool-Aid and shake the pom-poms.

We are marching toward the reset button...

[andy58-in-nh]

Right. Now, let's include the last month (December '11):

[LibLieSlayer]

trent was my senator... I despise his guts.

LLS

[LowTaxesEqualsProsperity]

The liars are saying 1.3 million people dropped out of the workforce last month. It is all LIES.

[1rudeboy]

You haven't been on the (hundreds, by now, probably) threads where I have? I do it at least once a week.

The primary method the government uses to massage its unemployment rate number is to decrease/increase the labor force participation rate.

Unemployment compensation (or lack thereof) has nothing to do with the way the unemployment rate is calculated.

There, I said it again. Can someone repeat it now and then so that people don't think all conservatives are clueless with regard to economics?

[nhwingut]

I absolutely agree with you. When you look at the trend (no matter how loud we scream here on FR about real unemploymnet, participation rates, etc), the apolitical types (who read Yahoo and AOL) are going to read the glowing headlines and see things improving. Obama’s policies are all going to be trumped as the main reason for improvement. Those are political realities when you have a media that is so in the tank for Obama.

And when you factor in a stable of pathetic candidates on our side, we are going to lose in a landslide. Prepare for a disaster over the next 4 years. Start planning.

[TomGuy]

The company I work for is only hiring part timers and temporary contract help.

I went through that in the mid-80's recession in Tulsa and the early-90's recession in Dallas-Ft. Worth.

Companies would hire 2 temps/part-timers at basic wages, so they didn't have to pay benefits or pay for experience. Many, including me, took a 40% cut or more in benefits/pay just to get a job and pay the bills.

Recessions are never easy, if you are one of those who ends up on the unemployment lines.

That 90's recession in DFW hit professionals -- engineers, software developers, etc.

[P-Marlowe]

There are no blocked parallel arteries on my commute. Traffic has increased dramatically in the last few months. We need to face the truth. For whatever reason the economy is apparently taking a turn for the better, at least where I live. It may just be that people have given up on being unemployed and are taking lower paying jobs or it may be that this is the year the trillion dollar stimulus package is being used.

I anticipate that the economy is going to improve between now and November, and that is a fact we are going to have to be prepared to deal with.

Pretending or even hoping that things are getting worse going into this election is not a viable strategy. Unemployment will likely be below 8% by the time of the election. I don’t know why, but it will be.

[1rudeboy]

no matter how loud we scream here on FR about . . . facts

[hoosiermama]

Click to Donate to Newt Gingrich

[Eagle of Liberty]

AND THE KOOLAID DRINKERS ARE GONNA GUZZLE THIS STUFF DOWN! Ugh! Why does our GOVERNMENT report stuff like unemployment, CBO bill analysis or other economic metrics with such WRONG methods? Can't stand it! How about reporting on REAL unemployment MSM? Oh, that's right. Then you:

A) Wouldn't be helping your Democrat masters.
B) May look like you are actually doing some investigative journalism.

[trailhkr1]

I went through that in the mid-80's recession in Tulsa and the early-90's recession in Dallas-Ft. Worth. Companies would hire 2 temps/part-timers at basic wages, so they didn't have to pay benefits or pay for experience. Many, including me, took a 40% cut or more in benefits/pay just to get a job and pay the bills.

Agree 100%. I don't discount the 243K figure but what is the quality of jobs being made? As I said the company I work for has increased hiring over the last year but they are going through a temp agency..no benefits/health insurance or hiring part timers.

[SMM48]

Jobless rate drops to lowest in almost 3 years

I predict it will be 5% by election day.

[Las Vegas Ron]

That comment is so dead on in so many ways, BTTT!!