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US jobless rate falls to 7.8 pct., 44-month low

I know exactly when the reports are supposed to come out. I'm referring to the fact that we have had 43 straight months of unemployment above 8% and now 1 month before the election, in the last jobs report that matters, it finally falls below 8%.

Very curious indeed. Hmmmmmmmm is right! I think it's obvious what is going on here. Obama had a bad debate, and immediately went out and created 100,000 jobs to make the numbers look better.
 
Just as Pubs were hoping the bad report last month would over shadow their horrible convention and the Dems good convention the Dems are hoping these good numbers will overshadow the debate.

I don't think either will be happy with (or in the Pubs case were happy with) the effect.
 
then I guess Romney can stop talking about obama not creating jobs, eh?
 
I know exactly when the reports are supposed to come out. I'm referring to the fact that we have had 43 straight months of unemployment above 8% and now 1 month before the election, in the last jobs report that matters, it finally falls below 8%.

If we'd passed the American Jobs Act, it would have fallen below 8% well before now. Or if we had had a bigger, better stimulus. Or if the Fed had adopted the Tigger attitude before September 2012. Is that what you mean by curious timing? I, too, am baffled by the uncaring attitude of most policy-makers (excluding St. Ben) towards the unemployment crisis.
 
If we'd passed the American Jobs Act, it would have fallen below 8% well before now. Or if we had had a bigger, better stimulus. Or if the Fed had adopted the Tigger attitude before September 2012. Is that what you mean by curious timing? I, too, am baffled by the uncaring attitude of most policy-makers (excluding St. Ben) towards the unemployment crisis.

They could have done that 3 years ago...there was the political capital to get it done. Instead they wasted that capital on a horrible "stimulus" bill, a horrible budget deal and a horrible health care bill. Capital spent on shit, confident falls through the basement and the deficit explodes. A perfect cocktail for disaster.
 
then I guess Romney can stop talking about obama not creating jobs, eh?

Although the revisions were positive, the economy is growing at the same sluggish pace it has been since the spring, and is showing few signs of speeding up any time soon.

The country generally needs at least 150,000 new jobs each month just to keep up with population growth.


Maybe that's where he goes. :noidea:
 
They could have done that 3 years ago...there was the political capital to get it done. Instead they wasted that capital on a horrible "stimulus" bill, a horrible budget deal and a horrible health care bill. Capital spent on shit, confident falls through the basement and the deficit explodes. A perfect cocktail for disaster.

There was only support for a $800B stimulus. I think the hand-wringing over the PPACA is mostly misplaced, it's not like that took away from any real existing support for further short-term deficit spending.

I don't think your confidence narrative really fits the data.
 
Although the revisions were positive, the economy is growing at the same sluggish pace it has been since the spring, and is showing few signs of speeding up any time soon.

The country generally needs at least 150,000 new jobs each month just to keep up with population growth.


Maybe that's where he goes. :noidea:

This news definitely helps Obama, mainly because if they were bad numbers, the one-two punch of a bad debate and bad job numbers would heighten the pressure on the White House, and democratic pundits would be losing their collective shit (staying with the shit theme).
 
I wish people would focus more on the underemployment number of 14.7% - that takes into account unemployed, those who have quit looking (dont count towards the unemployment rate) or part-time workers that would rather be full-time but can't find it. That's a much better measure of where we stand from an employment perspective in this country.
 
There's good news and bad news, just like every jobs report. As long as it goes down, it sounds like good news overall to me...
 
Yes Bush & Cheney were the guys screwing around with the mortgage industry, they forced banks to give people loans who had no business owning houses, etc.

Fighting two wars is certainly part of the problem but the American economy fell for several reasons and several of the reasons aren't Bush/Cheney's fault.
 
The reason for the drop is the number of part-time workers has soared in recent months. 582,000 more part-time workers since August 2012 were added, totaling 8,613,000 people working "part-time for economic reasons."

http://www.bls.gov/news.release/empsit.t08.htm

But, yea, these numbers are highly suspect and not indicative of a recovery.

_obama__bumper_combopack.jpg
 
Where's RJ's outrage that these jobs aren't worthwhile? That was his rallying cry when we have 5% unemployment back in the 2000s
 
This stat either always meant something, or never did. Since the GOP has been hammering the president with it for the last two years, that means it has to have always meant something, politically speaking, in this election. You can't have it both ways when a stat turns. Fact is fact: unemployment dropped under 8%. Obama has that to work with on the road for a month.

Obama really needed this report to flip the narrative, but, as has been said, it was probably already baked into the numbers. It will be interesting to see if the debate performance can move the needle. My guess is that it won't affect the polls as much as one would expect, but we'll see. It's probably the last true candidate-on-candidate variable.
 
This stat either always meant something, or never did. Since the GOP has been hammering the president with it for the last two years, that means it has to have always meant something, politically speaking, in this election. You can't have it both ways when a stat turns. Fact is fact: unemployment dropped under 8%. Obama has that to work with on the road for a month.

Obama really needed this report to flip the narrative, but, as has been said, it was probably already baked into the numbers. It will be interesting to see if the debate performance can move the needle. My guess is that it won't affect the polls as much as one would expect, but we'll see. It's probably the last true candidate-on-candidate variable.

My money is on Obama:

obamaodds.jpg
 
I think Obama is breathing a huge sigh of relief today. These are great numbers to combat the "we can't afford another four years" narrative of the GOP. The under 8% unemployment is a huge psychological barrier.
 
Also, tin cup wears tin hat is pretty solid whoever tagged that.
 
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