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Jobless Rate Plummets 1/10th Of 1%!

From an ecstatic (albeit memory deficient) Associated Press:

Unemployment dips to 8.9 pct., 192K jobs added

By Jeannine Aversa, AP Economics Writer
February 4, 2011

WASHINGTON – Employers hired in February at the fastest pace in almost a year and the unemployment rate fell to 8.9 percent — a nearly two-year low.

The economy added 192,000 jobs last month, with factories, professional and business services, education and health care among those expanding employment…

Gee, it seems like only yesterday this selfsame Jeannine Aversa reported that ‘economists’ predicted the economy probably added 175,000 jobs last month. Which the economists said meant the unemployment rate would go up — to 9.1%.

What a difference a mere 17,000 jobs makes. A difference of .2% points.

Private employers added 222,000 jobs last month, the most since April. That shows that companies are feeling more confident in the economy and about their own financial prospects. And it bolstered hopes that businesses will shift into a more aggressive hiring mode and boost the economic recovery.

Any minute now.

The unemployment rate is now at the lowest point since April 2009. It has been falling for three months, down from 9.8 percent in November, marking the sharpest three-month decline since 1983.

And none of this has anything to do with the Department Of Labor’s new ‘metrics’ for measuring the population of the unemployed. Which, conveniently, just got a lot smaller. Which, also coincidentally, caused the percentage of those who still have jobs to go up.

After all, the important thing is to get the unemployment rate below the magical 8% before the 2012 elections, by hook or by crook.

"These numbers can be sustained and built on," economist Joel Naroff at Naroff Economic Advisors. "The economy is recovering, there is no question about it. Businesses are finally taking some of those profits they are earning and putting them back into the work force."

You see, Michael Moore and the New York Times are right. Our economic problems are all due to those evil businesses just hording their cash instead of hiring more workers. 

The number of unemployed people dipped to 13.7 million, still almost double since before the recession.

When factoring in the number of part-time workers who would rather be working full time and those who have given up looking for work, the percentage of "underemployed" people dropped to 15.9 percent in February. That’s the lowest in nearly two years.

The positive news on the hiring front comes as the larger economy is gaining momentum

Prosperity is just around the corner. Along with the summer of recovery.

It’s just a very big corner.

This article was posted by Steve on Friday, March 4th, 2011. Comments are currently closed.

3 Responses to “Jobless Rate Plummets 1/10th Of 1%!”

  1. heykev says:

    I cannot afford another “summer of recovery.”

  2. untrainable says:

    Is this official number from the White House tea leaf reader, or the infinitely more accurate guy who reads the bumps on Obama’s head?

  3. artboyusa says:

    Strap yourself in for a rocket ride to the stars when CHARLIE SHEEN, stars in “I’m the Economy, Stupid”!

    “Mr Sheen? Valley House of Pizza, sir. Gotta delivery for you”.

    “Pizza? You sure? I don’t remember ordering any pizza”.

    “Yes sir, Mr Sheen. Three dozen large pepperoni pizzas with extra cheese and three dozen diet Cokes and, um, two Greek salads”.

    “I sorta remember ordering some drugs…these pizzas aren’t made out of drugs are they?”

    “Um, no, sir. I don’t think so”.

    “And they’re not sprinkled with drugs or injected with drugs or covered in drug toppings are they?”

    “Not really, no”.

    “What about the Cokes? Any drugs in them?”

    “Not since about 1890, Mr Sheen”.

    “Too bad. Well, I suppose Team Sheen should eat something that isn’t drugs once in a while, so yeah, okay, bring ‘em in”.

    “Thank you, sir. Wow, this is an amazing place, Mr Sheen!”

    “Yeah, isn’t it? This is the place that’s the mother ship to the searing, blazing comet of emotive talent and intellectual brain force that’s Team Sheen; tearing, roaring, steaming like an out of control locomotive across the shimmering train tracks that span the universe! Winning! Just put those pizzas on the kitchen table – it’s made out of drugs, you know. Care for a corner?”

    “Um, no thanks Mr Sheen. I might get in trouble with my manager”.

    “Okay. And these are all my good ‘friends’ – that’s Deano and Jimbo and Paco and Scarface – hey fellas! Winning! And those are my porn whore, sorry, adult industry, goddess girlfriends – that’s Kendra and Jendra and Kacey and Kaycee and Kaytlin and Kayden and Debby – they’re all brilliant actresses, especially Jendra. She really inhabits the role, if you know what I’m saying”.

    You sure have a lot of friends and girlfriends, Mr Sheen”.

    “You bet! The best money can buy! Winning!”

    “Are those pictures of your children?”

    “Yeah, aren’t they great? Winning! Nothing’s more important to me than family, you know, and one day I really want to try to start to want to think about starting to try to get ready to think about trying to want to be a good dad to them but before that can happen I’ve got my important work for America to take care of”.

    “Important work? You mean that lame ass, I mean ratings topping, sitcom of yours?”

    “Nah! I mean my work for the economy. I’m the greatest wealth generator since they invented free market capitalism, man. Winning! Obama should make me Secretary of the Treasury, I’d get that economy moving big time – plus, I’d be able to give him the real inside scoop on September 11”.

    “Wealth generating?”

    “Yeah, man! See, because I’m a ‘celebrity’ anyone in any way associated with the extended plane crash stroke suicide that is my life makes money! Big money! My dope dealing friends make money. My porn whore girlfriends make money. The National Enquirer and the Star and the Globe make money. TMZ makes money. E! makes money. Howard and Geraldo and everyone in the media make money and everybody keeps on making money as long as I’m still alive and even after I’m dead – which, hey, frankly, could be any minute now – they’ll keep on making money by selling and reselling their personal stories of how they tried to save me from myself by feeding me drugs and telling me how I’m always right about everything. I’m a one man first world economy! I’m a blazing, burning snowball of money spinning genius on the crest of the wave of a tsunami of cash, cash and more cash! Winning!”

    “Wow, that’s some mixed up mixed metaphor, Mr Sheen, but if you’re right it certainly says something important about our society”.

    “That they recognize true genius when they see it?”

    “Um, more like that we’re so jaded and bored and shallow and morally bankrupt that treating the protracted self destruction of some second rate actor as a public entertainment seems perfectly legitimate and okay to us, instead of the cruel and disgusting abuse of humanity that it is”.

    “Hey, you say that stuff like it’s a bad thing! Without me and my, um, personal demons, who’s gonna keep the economy going? Obama? Wall Street? The Fed? Congress? The Valley House of Pizza? Huh? Who?”

    “Gee, I don’t really know Mr Sheen,,,”

    “That’s okay, pal! Listen, I like you. You wanna move in with us? Hook up with Team Sheen? I could use a ‘friend’ like you. I’m in a lot of pain, see…”

    “A lot of pain? Gee, you don’t exactly look like you’re in pain”.

    “Hey, if I wasn’t in so much pain I wouldn’t need so much anaesthetic, would I?”

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