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  1. #1
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    August Employment Report

    Projected: 125,000 gained jobs
    Actual: 96,000 gained jobs

    July unemployment rate: 8.3%
    August unemployment rate: 8.1%

    That was because 360K people left the workforce because they gave up looking for a job. So headlines say it's getting better, but it's not the case.

    Revisions to prior reports subtracted a total of 41,000 jobs to payrolls in the previous two months.

    Private payrolls, which exclude government agencies, rose 103,000 after a revised gain of 162,000. They were projected to rise by 142,000, the survey showed.

    Factory employment fell by the most in two years, temporary-help companies eliminated positions for the first time in five months and the share of the working-age population in the labor force slumped to the lowest since 1981.

    The jobless rate fell from 8.3 percent as 368,000 Americans left the labor force. Unemployment was forecast to hold at 8.3 percent, according to the survey median. Estimates in the Bloomberg survey ranged from 8.1 percent to 8.4 percent.

    http://www.bloomberg.com/news/2012-0...ate-falls.html


    Terrible jobs report.
    Last edited by GoCrew5; 09-07-2012 at 08:57 AM.

  2. #2
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    Charles Sykes ‏@SykesCharlie
    Brutal: 368K drop out of labor force; participation rate down to 63.5%; rate wld be 11.2% if labor participation rate sam as '09.

  3. #3
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    We are stuck in a big rut and we need something big to get us out of it. This is not a call for a massive stimulus but rather a call for some big innovation or change to the way we do business as a nation. Whether it be a government intervention or a tax cut or just the next internet, it doesn't matter to me. But we need something big, our ticky-tack solutions are not fixing the problem and we are going to be in danger because other nations are building themselves up and we are seemingly trying to tear ourselves down.
    Member of the Owlluminati!

  4. #4
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    Not good news, but not surprising. I will say Idk if anyone, including Romney could do any better. He certainly didn't in Mass. And agreed Db.

  5. #5
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    Quote Originally Posted by dbroncos78087 View Post
    We are stuck in a big rut and we need something big to get us out of it. This is not a call for a massive stimulus but rather a call for some big innovation or change to the way we do business as a nation. Whether it be a government intervention or a tax cut or just the next internet, it doesn't matter to me. But we need something big, our ticky-tack solutions are not fixing the problem and we are going to be in danger because other nations are building themselves up and we are seemingly trying to tear ourselves down.
    We need to let the economy crash so prices can bottom out...
    Son, you just don't get it, i'm talking bout TWTW!

  6. #6
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    Quote Originally Posted by GoCrew5 View Post
    Projected: 125,000 gained jobs
    Actual: 96,000 gained jobs

    July unemployment rate: 8.3%
    August unemployment rate: 8.1%

    That was because 360K people left the workforce because they gave up looking for a job. So headlines say it's getting better, but it's not the case.

    Revisions to prior reports subtracted a total of 41,000 jobs to payrolls in the previous two months.

    Private payrolls, which exclude government agencies, rose 103,000 after a revised gain of 162,000. They were projected to rise by 142,000, the survey showed.

    Factory employment fell by the most in two years, temporary-help companies eliminated positions for the first time in five months and the share of the working-age population in the labor force slumped to the lowest since 1981.

    The jobless rate fell from 8.3 percent as 368,000 Americans left the labor force. Unemployment was forecast to hold at 8.3 percent, according to the survey median. Estimates in the Bloomberg survey ranged from 8.1 percent to 8.4 percent.

    http://www.bloomberg.com/news/2012-0...ate-falls.html


    Terrible jobs report.
    Which is interesting because last month the unemployment report looked worse than it really was because a bunch of people came back to look for jobs.

    Quote Originally Posted by MrPoon
    man with hair like fire can destroy souls with a twitch of his thighs.

  7. #7
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    Quote Originally Posted by dbroncos78087 View Post
    We are stuck in a big rut and we need something big to get us out of it. This is not a call for a massive stimulus but rather a call for some big innovation or change to the way we do business as a nation. Whether it be a government intervention or a tax cut or just the next internet, it doesn't matter to me. But we need something big, our ticky-tack solutions are not fixing the problem and we are going to be in danger because other nations are building themselves up and we are seemingly trying to tear ourselves down.
    Yeah more government!!!

  8. #8
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    Quote Originally Posted by Sota4Ever View Post
    Yeah more government!!!
    The alternative is to go with austerity, in other words less government. Most of southern Europe is trying that approach right now. How is it working? To provide just one example, young people in Spain have a 53% unemployment rate.

    I wouldn't care for the US job market to get that kind of proctology exam from the invisible middle finger of the market. How about you?

  9. #9
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    Quote Originally Posted by Labgrownmangoat View Post
    The alternative is to go with austerity, in other words less government. Most of southern Europe is trying that approach right now. How is it working? To provide just one example, young people in Spain have a 53% unemployment rate.

    I wouldn't care for the US job market to get that kind of proctology exam from the invisible middle finger of the market. How about you?
    Reason.... nothing more than Reason.

    Quote Originally Posted by MrPoon
    man with hair like fire can destroy souls with a twitch of his thighs.

  10. #10
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    Quote Originally Posted by Sota4Ever View Post
    Yeah more government!!!
    How is this productive? You want less government, go to Somolia. Its like the Laffer curve of government. Less government doesn't equal more freedom. Just like more government doesn't mean less freedom.

    I didn't say that there has to be something from government. I just said something big has to happen. We are stuck in a rut between people who want to invest and people who are willing to invest. A jump start isn't a way to run your car every time, but that doesn't make a jump start a bad solution if you're stuck on the side of the road.
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  11. #11
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    There's a jobs bill still sitting around waiting on the 2012 election. Would be nice if the GOP cared more about the country than they do winning an election.

  12. #12
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    Quote Originally Posted by Labgrownmangoat View Post
    The alternative is to go with austerity, in other words less government. Most of southern Europe is trying that approach right now. How is it working? To provide just one example, young people in Spain have a 53% unemployment rate.

    I wouldn't care for the US job market to get that kind of proctology exam from the invisible middle finger of the market. How about you?
    How's it working after what? After their massive borderline communist government has been obliterating their economy for decades.


    Why is most of Southern Europe trying less government? Hmmmm could it be because of something like 2 massive "holy **** is the country going to exist after this" recessions.


    That massive unemployment rate is a wonderful example of government incompetence.

  13. #13
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    China's falling apart, Europe's on the sidelines, probably for at least a decade... and the United States has a ton of unemployed workers...

    The dollar keeps getting weaker. Overseas shipping is already prohibitively expensive, and it doesn't look like shipping rates are getting any easier to deal with.

    Give it two years - the economy will rebound. It has nothing to do with politics, just global, cyclical economics.

  14. #14
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    Blame europe and congress

    Presidents get too much credit/blame for job creation

  15. #15
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    Quote Originally Posted by Shred003 View Post
    China's falling apart, Europe's on the sidelines, probably for at least a decade... and the United States has a ton of unemployed workers...

    The dollar keeps getting weaker. Overseas shipping is already prohibitively expensive, and it doesn't look like shipping rates are getting any easier to deal with.

    Give it two years - the economy will rebound. It has nothing to do with politics, just global, cyclical economics.
    People were saying that 2 years ago.... Go back and look at threads on here for 2 or 3 years ago and you will find people that regularly post in here saying that the economy is gonna rebound just give it 6 months, a year, 18 months etc.

    Hell Obama said back in 2009 that if the stimulus didn't work then he would opt against running for another term. I guess that is all a matter of perspective about whether or not you feel the stimulus "worked". You can say that it did work because without it the economy may have been worse off. But then you can say that the economy is still very much in the crapper.

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