Posted on 11/07/2014 6:55:02 AM PST by SeekAndFind
The U.S. economy added 214,000 jobs in October, lower than the 231,000 jobs economists expected but still enough to maintain labor market momentum as the Federal Reserve ponders a timetable for raising interest rates.
While the number of jobs created came in under expectations, the headline unemployment rate dropped to 5.8%, the lowest level since July 2008, and under the 5.9% rate in September, according to numbers released today by the U.S. Department of Labor.
The report doesn't slow the momentum started in September when 248,000 jobs were created, far more than expected.
The 214,000 jobs gained in October represented the eighth time in the past nine months that the economy has created more than 200,000 jobs, a sharp rebound from the years of weak growth that followed the 2008 financial crisis and deep recession that followed.
Both the unemployment rate and the number of unemployed persons (9 million) fell in October. Since the beginning of the year, the unemployment rate and the number of unemployed persons have declined by 0.8 percentage point and 1.2 million, respectively.
Still, analysts are looking beyond the number of jobs created and the headline unemployment rate for signs that so-called slack in the labor market is tightening. In particular, economists especially those at the Federal Reserve are looking for growth in hourly wages.
(Excerpt) Read more at freerepublic.com ...
A major problem for the Republican Party - particularly the bankster/lawyerster-cronies-supported-GOPe.
When the central bank is handing out money at near-no-interest rates, it means that economic opportunity -— where opportunity is created, and that is in small to medium size businesses -— is thwarted by either environment or government.
Obviously, in the USA, the government is a major obstacle to economic opportunity; mostly because the government is obsessed with its continuing theft of what is not its to take: our rights, our property, our sovereignty.
Our government does not own our Constitution - it belongs to the people and to the states.
If the recent election “said anything,” it was a rally around our blessed Bill of Rights, our First Ten Amendments to our Constitution, which are ignored by the leftists/liberals/progressives/socialists/banksters/lawyer-sters/liberal-and-Palace-media...sters.
ONLY when those monsters get off the backs of the people, and off the backs of our rights, our property, and our right to seek and grow opportunities ... will there be a significant positive response to lending.
Let alone several other improvements in the economies.
The economies do *NOT* live and die upon the largesse of the rich banksters/lawyersters/liberal-academica-Keynesian-istas/... and vitriol of the race card hustlers marketing “OH, THE DISPARITY!”
There is no spigot, despite the desires of all those socialist, allegedly enlightened (or not), to turn ON or turn OFF, some cash flows and thus control votes!
Instead, there is a spirit of free enterprise ... when politicians are *NOT* crushing it.
So, if you want improvements, you have to get the politico-bottlenecks, such as:
- some EPA regulations and dictates
- really lousy education regulations and dictates
- greedy landlord lobbyists who envision cheap laborers and ever-more-dense “developments” (so that EVERYWHERE is “sustainable” Detroit??!!
- etc.
... all, out of the way of actual progress.
Actual progress, the very thing that “progressives” are determined to STOP, and replace with Stalinism and Islamic chaos -— anything to promote these “progressive hustlers.”
Wow!! The economy is so robust and thriving that the dims. got booted out of power. Makes sense.
What are you trying to do? Present the data in a clear and unbiased way that actually attempts to shed light on what is happening in the economy??
You can get banned for that!
You don’t understand much about economic statistics.
I fully expected the market tank WED morning—The Wall Street recipients of Obama’s QE largesse trying to taint the GOP wave.
As it is, the Pubs will probably play along with the scam so as to avoid being accused of crashing the economy (which really, really bites, BTW).
:-)
There needs to be a “like” feature :-)
As Mark Twain once said, “We have the finest government money can buy.”.........................
Digging through the numbers at BLS.gov (and you really have to be a forensic accountant, which I am not, to effectively do so) it looks like 208,000 of the jobs were part time.
Thats not good.
What I’m having trouble finding are the breakouts by age. In past months the gains have been largely with older workers needing to go back to work to make ends meet.
Not hardly... Remember those were the last decades when the vast majority of women were housewives and men were earning enough to support their families. Now, it is far more common for both husbands and wives to work outside the home, often at several jobs each!
After hearing the same complaints for the last 40 years or so, and there being no finding of manipulation of these statistics in all that time, and, in fact, not even any momentum for an investigation by those in the know, I have to suspect that those figures are probably not being manipulated. Why must we always claim that statistics we don’t like are being manipulated? Will we say the same when a Republican is in office? Let’s not be two faced like the Dems.
The fact is, these statistics do not show the greatness of Obama, or even a minimal competence on his part. What they show is that the greatest economic engine in the world, powered by free enterprise, can overcome the incompetence of even the dumbest politician. It can be slowed, and it was, but it has come through once again.
I highly suspect these numbers, for the last 3 or 4 years, at least. I’m skeptical of the Department of Labor, controlled by the Dem administration, and even when it’s controlled by Republican administrations, the entrenched bureaucrats are mainly Dems..............Nobody will investigate or critique their methods, as long as the numbers satisfy them. But when I present data to my engineer, it is gone over and over and over again to ensure that it is correct...................
You can't possibly be serious. Either that, or you know less than nothing about the U.S. labor market and labor statistics. More likely both.
In the last year or so, every month about 3.4 million people are hired. And about 3.2 million people quit, retire or are fired. Otherwise known as "separations" by BLS.
There's the roughly 200K of net new jobs each month.
Of the 3.2 million separations, about 1.3 million file new claims for unemployment in any given month. About 300K/week.
The rest quit to take a new job, retired or don't bother filing a UC claim because they know they are disqualified (fired for cause) from receiving benefits for many weeks.
While President Chickenshit's economy stinks, it would stink a lot worse if Republicans hadn't won in 2010 and put a stop to his nonsense. This year's election plugs up more holes.
We're actually doing reasonably well thanks to 2010 -- although it could be a LOT better -- but we are growing at about 2%/year. The U.S. economy can withstand almost anything, even a blithering, narcissistic moron in the White House who knows nothing about economics and will never admit that he's made a single mistake in his entire life.
Much better days come when jug-ears is finally gone.
Meanwhile, weekly UC claims have absolutely nothing to do with monthly net employment figures. Contrary to the goofy rubbish spouted by you and many others on this and other threads.
“Remember the olden days, when the media exposed such lies?”
Sort of. LOL!
Well done sir. Well done.
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