Job report, unmployment falls to 9.5%!

Discussion in 'Wall St. News' started by Ivanovich, Jul 2, 2010.

  1. Yeah, because over 650,000 people dropped out of the work force. What a farce these numbers are!

    Hourly earnings - down.

    Jobs lost, 125,000 and that's WITH the hilarious "Birth/Death" model showing an increase of 147,000.

    Green shoots? Obamanomics? I'm sure CNBC will spin this the appropriate way.

  2. How many people went into to planned retirement last month? I'm not being facetious here: people never talk about how many people at retirement age actually retire as planned and slip off the payrolls - need to work that into your fire-and-brimstone too.
  3. rc8222


    Exactly. I'm sure we'll here Pelosi come out and say "were down to 9.5% unemployment", "See, the stimulus packages are working". "And for those 650,000 people dropping out of the work force, I'm sure Pelosi will refer to them as an "angry mob" who's numbers don't mean anything.
  4. Probably about the same number as any other month, meaning not enough to skew the data or account for a 0.3 drop. Something else is responsible for that, and it's not an overall improvement in employment...
  5. Arnie


    Everyone, including the president's advisors, admit we need a minimum of 150,000 new jobs per month just to tread water. I really thought things would be getting better, inspite of all that the Pres and Dems have done, but this looks like it will get a lot worse.

    Obama=One and Done :D
  6. How many people entered the workforce for the first time? Enough to nullify that? That's not discussed either, is it?
  7. America needs to add 120-180,000 jobs per month (depending upon whose numbers are used) just to accommodate the increase in population. And THEN we need to be working on the 15-30 Million "unemployed/underemployed"...
  8. Exactly. Next thing someone will say it's due to the number of jobs Obama saved in imaginary districts. Oh wait...they tried to pull that one already.
  9. it should be. Out of that number entering, how many are going abroad for jobs? A good % of the degrees obtained each year are student-visa holders...
  10. Ok, so now we're talking about improving the metric itself by adding - wait for it... accurate data and methodologies.

    And gee, that was precisely my point in the original post.
    #10     Jul 2, 2010