Unemployment rate falls to 8.3%

**tetsua** · February-03-12, 09:09 AM

We're not yet exactly where we want to be yet, but the momentum is definitely building. A quarter of a million jobs added in January is great news for the country.

I'm anxious to see what the Right wing spin is on this news.

http://money.cnn.com/2012/02/03/news/economy/jobs_report_unemployment/index.htm?hpt=hp_t1

**ghettopalmetto** · February-03-12, 09:47 AM

Originally Posted by tetsua

We're not yet exactly where we want to be yet, but the momentum is definitely building. A quarter of a million jobs added in January is great news for the country.

I'm anxious to see what the Right wing spin is on this news.

http://money.cnn.com/2012/02/03/news/economy/jobs_report_unemployment/index.htm?hpt=hp_t1

And mind you, those numbers include all the public sector jobs that have been slashed by "small government" policies.

**oladub** · February-03-12, 11:29 AM

Wow! Unemployment is now only one percent worse than it was at it's worst during the Bush administration. Happy days are here again. We still have some trillion dollar annual deficits to pay off to finance that accomplishment with additional trillion dollar annual deficits projected as far as we can see. I can get a bank loan to park an Escalade in my drive and take a vacation. It would seem like I am prospering too until my note came due. [[Sorry kids, we voted for Obama and you will get to pay for making the whole Country more like Detroit.) I'm glad everyone here is so happy with 8.3% unemployment though. It must be what you elected Obama for. Maybe I'm cynical but if unemployment ever reached 8.3% under a Republican president, I suspect that everyone here would be making references to Hoover. Meanwhile, You guys should be cashing in on this by buying stocks... I mean if you really believe that things have turned around, stuck should take off.

How many jobs did the American economy add in January?

The Labor Department estimated on Friday that the economy gained 243,000 jobs.

The department also estimated that the economy lost 2,689,000 jobs in the month.

The difference in the two numbers is in seasonal adjustment. Employment always falls in January, as temporary Christmas jobs end. So the government applies seasonal adjustment factors in an effort to discern the real trend of the economy apart from seasonal fluctuations. The actual survey showed the big loss in jobs. The seasonal adjustments produced the reported gain of 243,000 jobs.

A reason to doubt the number is that there has been a tendency in this cycle for the seasonal factors to overstate moves, in both directions. Labor mobility is down, as fewer workers quit to seek better jobs and employers both hire and fire fewer people than they used to do. If the seasonal adjustment was too large, then the gain should be smaller.
LOLstatistics Moment of the Day, sponsored by JP Morgan™.

http://www.zerohedge.com/news/final-...t-time-workers

lit joe · February-03-12, 12:45 PM

Shall we take a minute to remember those 7 or 8% they don't count.

**jerrytimes** · February-17-12, 10:43 PM

I know, people act like everything is fine now. If my memory serves me right wasn't the worst number that was posted during Bush's presidency 7.8% and it was even as low as 4%. I'll have to go look it up.

**Johnnny5** · February-17-12, 11:07 PM

Originally Posted by tetsua

We're not yet exactly where we want to be yet, but the momentum is definitely building. .

Perhaps some here may have missed this part of the OP's post?

I'm still very skeptical of any job improvement numbers. I personally know dozens of once unemployed friends and neighbors who have found work, but at positions and pay levels far below what they had prior to the recession. It's getting better for some, but I think many have accepted the fact that their future in America will not be as prosperous as they once hoped.

On a side note it's nice to see "American" companies like Apple and Ford posting record profits. Perhaps now that employment is up they'll start selling more of their "Made in China" Ipads and "Made in Mexico" Fusions.

**firstandten** · February-18-12, 08:16 AM

Originally Posted by Johnnny5

I'm still very skeptical of any job improvement numbers. I personally know dozens of once unemployed friends and neighbors who have found work, but at positions and pay levels far below what they had prior to the recession. It's getting better for some, but I think many have accepted the fact that their future in America will not be as prosperous as they once hoped.

On a side note it's nice to see "American" companies like Apple and Ford posting record profits. Perhaps now that employment is up they'll start selling more of their "Made in China" Ipads and "Made in Mexico" Fusions.

As well you should be. We have seen a shift in our economy like when we went from an agricultural economy to an industrial one or the shift from horse and carriage to auto's. We saw our high paying manufacturing jobs replaced by the service sector if at all.

This shift didn't happen overnight we were talking about it back in the late 80's early 90's and on thru the present. Manufacturing is taking baby steps in coming back but at half the wages and benefits as before.

We were always led to believe that the next generation would do better financially than the previous one. However I think that this present generation won't.

**rb336** · February-18-12, 09:31 AM

Originally Posted by Johnnny5

On a side note it's nice to see "American" companies like Apple and Ford posting record profits. Perhaps now that employment is up they'll start selling more of their "Made in China" Ipads and "Made in Mexico" Fusions.

The new Fusions will be made in Flat Rock, a direct result of Obama's policies

**Johnnny5** · February-18-12, 06:43 PM

Originally Posted by rb336

The new Fusions will be made in Flat Rock, a direct result of Obama's policies

That's news to me. Do you happen to have a link that I could check out?

I make my living selling OEM G.M and Ford parts and I'm absolutely astounded by how quickly they have been sending production oversees. I've only been in the business for 5 years, but in that short time the amount of parts I see from Mexico and China has at least doubled. Tires, rims, mirrors, transmissions, engines the Big 3 are importing parts from everywhere. I don't need to listen to Obama or Romney to know why unemployment in the U.S is so high, it's obvious every time I open a box.

**firstandten** · February-18-12, 08:07 PM

Originally Posted by Johnnny5

That's news to me. Do you happen to have a link that I could check out?

I make my living selling OEM G.M and Ford parts and I'm absolutely astounded by how quickly they have been sending production oversees. I've only been in the business for 5 years, but in that short time the amount of parts I see from Mexico and China has at least doubled. Tires, rims, mirrors, transmissions, engines the Big 3 are importing parts from everywhere. I don't need to listen to Obama or Romney to know why unemployment in the U.S is so high, it's obvious every time I open a box.

You make a good point. Final assy may be in Flat Rock but the component parts are coming from everywhere. The small job shops that was part of the tier 2 and 3 supply base employing thousands of workers are gone. We were talking about this very thing in early 90's. The only way President Obama can stop it is to make it more expensive for countries to export to the US. though tax policy. Don't think thats going to happen with the Congress he has to deal with.

**313WX** · February-18-12, 08:28 PM

Originally Posted by firstandten

The only way President Obama can stop it is to make it more expensive for countries to export to the US. though tax policy. Don't think thats going to happen with the Congress he has to deal with.

It wouldn't even happen if he had to deal with a supposedly more favorable Congress.

We saw how well the Universal Health Care idea DIDN'T go with a Super Majority in Congress.

**Cincinnati_Kid** · February-18-12, 09:55 PM

The republican dominated Congress is hard for anyone to deal with.

**oladub** · February-19-12, 12:30 AM

firstandten: The only way President Obama can stop it is to make it more expensive for countries to export to the US. though tax policy. Don't think thats going to happen with the Congress he has to deal with.

313WX: It wouldn't even happen if he had to deal with a supposedly more favorable Congress.

We saw how well the Universal Health Care idea DIDN'T go with a Super Majority in Congress.

I'm agreeing with firstandten that import taxes would slow imports and create a demand for US labor but what makes you think that Obama would support such a thing any more than Republicans? Obama did not address NAFTA as he promised. Instead, he added NAFTA like agreements with three more countries including S. Korea and brought in Mexican truckers to replace Teamsters.