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Media: 9.6% Unemployment Is Good News

From a desperately trying to be upbeat Associated Press:

Companies add 67K workers, but jobless rate rises

By Christopher S. Rugaber, AP Economics Writer
September 3, 2010

WASHINGTON – Private employers hired more workers over the past three months than first thought, a glimmer of hope for the weak economy ahead of the Labor Day weekend. But the unemployment rate rose because not enough jobs were created to absorb the growing number of people looking for work.

Remember how the Associated Press used to bend over backwards to soften the blow of higher unemployment numbers during the Bush administration?

We don’t either.

Companies added a net total of 67,000 new jobs last month and both July and June’s private-sector job figures were upwardly revised, the Labor Department said Friday

While the report hardly suggests the economy is out of danger, it’s a reassuring sign after weeks of troubling data and comes after some encouraging economic figures in the past week…

Overall, the economy lost 54,000 jobs as 114,000 temporary census positions came to an end.

Under Mr. Bush, this would have been the AP’s headline and lead paragraph. Only they wouldn’t have mentioned the “temporary” census jobs.

Which, come to think of it, they seldom mentioned when the employment numbers were supposed to be going up.

For the first time this year, the manufacturing sector lost jobs — down a net total of 27,000 for the month. The auto industry accounted for 22,000 of those lost jobs, the department said. But those losses were largely due to a shift in the timing of the industry’s summer shutdowns.

Obama-motors strikes again.

State and local governments shed 10,000 positions and have had net jobs losses in every month but one this year.

Despite the untold billions of dollars poured into these public sector union jobs? How is that possible?

President Barack Obama said the report shows the economy is moving in the right direction

The scary thing is he might very well believe this.

The jobless rate rose to 9.6 percent from 9.5 percent in July

The AP saved this minor detail for the 16th paragraph in their article.

Reuters is just as preposterous:

Private hiring surprises with 67,000 new jobs

By Lucia Mutikani
September 3, 2010

WASHINGTON (Reuters) – U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth.

Nonfarm payrolls declined 54,000, the Labor Department said on Friday, helping to assuage fears of a double-dip recession. Financial markets had looked for a drop of 100,000 jobs…

Last month, the unemployment rate edged up to 9.6 percent, in line with market expectations, as discouraged workers came back into the labor force to hunt for jobs

Reuters saved its mention of the new higher unemployment rate for their 12th paragraph.

Again, just imagine if a Republican were President.

This article was posted by Steve on Friday, September 3rd, 2010. Comments are currently closed.

14 Responses to “Media: 9.6% Unemployment Is Good News”

  1. untrainable says:

    9% is going to be the new normal. Remember when 4-5% was a crime against the American people?

    While the Reuters is trying to assuage our fears of a double dip recession, I’m still trying to figure out when the first dip ended. Doesn’t the first dip have to end and things start to get better for a while and then dip again before they can actually call it a double dip? The real dip I’m worried about sits in the White House. Though I think he’s actually a triple dip.

    And how long until these numbers are quietly, probably on a Friday afternoon, revised up again.

  2. Rusty Shackleford says:

    Yes record high unemployment has plummeted from an unprecedented high of 9.712 to a now reasonable 9.699. The outlook is promising.

    I’m not sure who they’re trying to convince; Me or themselves?

  3. swee says:

    wsj.com did something similar….in a front-page graf it mentions the new jobs created first…then saves the unemployment rate for last. You know the Wall Street Journal needs a right-wing correction particular when it comes to the ‘journalists’ who write all this above-the-fold drek….

  4. proreason says:

    Obama is pretty calm about all this, isn’t he?

    I don’t believe he has an economic policy.

    The only policy he has is to push the middle class down to the level of the people with their hands out begging.

    My guess is he is actually upset that unemployment is as low as it is, and that the dupe Dems are complaining.

    Did everyone hear what Christine Romer said on her way out the door. I’ll paraphrase….she said “we’re clueless”.

    I’m more convinced than ever that the last 18 month is based on one simple fact. Remember the famous chart that shows unemployment in the prior 9 recessions since WWII. In every single one, jobs started coming back strongly after 12 months, or in one outlier, a bit longer than that. Thats all these criminals looked at. THAT’S ALL. They said to themselves, “heh, heh, jobs are gonna come back just about the time the godman is sworn in. Let’s grab a trillions dollars for ourselves really quick”.

    That’s how they think.

    • Petronius says:

      pro : “The only [economic] policy he has is to push the middle class down . . . .”

      Yes, so true. But he doesn’t merely want to push down the standard of living of the middle class. He also wants to break their spirit, stifle their freedoms, control every aspect of their lives, shred their Constitution, wreck their culture and identity, and dispossess them of the country their forefathers settled and built.

      The situation is that serious, and the program is well underway.

    • proreason says:

      Yes, I was using “push down the middle class” as shorthand for all that Petronius said.

      Here Krauthammer tells us that the criminal has betrayed the central role of a President, Commander in Chief, in order to jam in his domestic agenda, the punishment and destruction of the United States.

      http://www.washingtonpost.com/wp-dyn/content/article/2010/09/02/AR2010090203991.html

      When a man like Charles Krauthammer says such a thing, you know how dire the situation is.

      Yet there are 40%+ of Americans willing to tell pollsters that the support him. It is truly stunning.

  5. bullforever says:

    Can someone clear something up for me?

    If we have averaged well over 450K jobs lost per week for the entire month of August, and we only added 67K new jobs, then do we not have about 1.5 million more people unemployed that we did going into the month?

    The math just does not make sense. I am sure that there are people who take jobs for 8 weeks and then quit just to requalify for new unemployment benefits, but really, seriously, for all of 2010, we have been seeing 450K jobs lost every week (or should I say “new claims for unemployment” every week?, which is the same thing in my mind) and somehow, unemployment overall is staying about level? How can tht many jobs be lost, and so few gained, and still remain level?

    Am I the only one who asks these questions? Or am I too stupid to realize that there is something else going on with the numbers and shoudl be laughed out of town?

    • proreason says:

      There are so many numbers, bull, probably nobody understands them……and that’s the way the criminals want it.

      In the article, this looks like the most believable stat “The economy lost nearly 8.4 million jobs in 2008 and 2009. This year, private employers have added back 763,000 jobs”.

      the 8.4M and 763K are net numbers for the year. The 450K or so people filing for unemployments (probably a monthly total that is updated weekly) will usually be offset by people who have just found a job. For a month, if 450K new people file for unemployment, but 500K people find new jobs, then 50K jobs were added that month.

      But there are tons of manipulation that happens with all of the numbers. They adjust them multiple times, they seasonally adjustment, they publish forecasts, sometimes they cite private vs public or compbined numbers, they change the “base” because people get “discourages” or “rejoin the workforce”, and there are multiple sources for the data which frequently conflict.

      The numbers the government publishes are probably technically correct for the data that is available. (Except the White House’s numbers for “jobs saved” are totally made up. Really, they just divide $’s spent by another number and claim its a job. Really.). In addition, the numbers in the news articles are usually cherry-picked to present the “truth” the “journalist” wants you to believe. On top of that, all of the journalists are math idiots anyway. That’s why they are journalists in the first place. They make mistakes and fail to report important information for non-idealogical reasons.

      Bottom line….it’s like a shell game with 50 shells.

      Bottom bottom line. The country has been screwed by a group of master criminals.

  6. Reality Bytes says:

    Obama aka “GasOline” plays with “Matches” aka Timoty Geithner & gives us “Stimulus” aka “Burn Baby Burn”.

  7. proreason says:

    Dick Morris explains unemployment.

    “Why is unemployment remaining so high? Because the totality of Obama’s policies are dragging us into a depression.

    • The prospect of dramatically higher taxes next year is freezing consumer spending, particularly in the upper income ranges which spend a third of America’s consumption.

    • The huge changes that are looming in medical care brought about by Obama’s health care legislation are freezing new employment and expansion in the medical sector which accounts for 16% of GDP.

    • The financial reform legislation has so raised the prospect of a federal takeover of any bank that makes “imprudent” loans that financial institutions are afraid to lend, freezing new job creation.

    • The looming possibility of cap-and-tax legislation in the name of halting climate change is freezing any expansion in the manufacturing and energy sectors since these policies will force jobs to move overseas to locations that do not impose such a tax (e.g. India and China).

    • The massive expansion in the deficit and in the resulting debt has so eroded confidence in our nation’s future that Americans are now saving 6% of their income, up from 1% in the past, sapping consumer spending.

    • The threat of new rules for union elections that will spread private sector unionization is freezing business expansion plans.

    Obama’s rush to spend, regulate, re-engineer, redistribute, and tax have stopped any recovery and are sending us back into recession. In her wonderful book The Forgotten Man, Amity Shlaes notes how FDR’s policies in the late 1930s did the same thing. She notes how the imposition of the Social Security tax in 1937 (benefits did not start until 1941) and the rapid wage hikes that accompanied the passage of the Wagner Act (steel worker wages rose 40% in 1937) sent a recovering nation back into a new depression that lasted until the war started in 1939.”

    http://www.dickmorris.com/blog/the-stimulus-kicks-in-higher-unemployment/

    Note that he blames it on the totality of the Moron’s policies. I’ve been saying Obamy doesn’t have an economic policy, only a policy to destroy the american middle class. And that policy is working like gangbusters.

    None of this is happenstance.

    • hushpuppy says:

      It wouldn’t surprise me in the least if one day the entire economy stops dead in its’ tracks because people won’t be able to work.

      The economy would then shift to Europe who’ll pick up the slack and start ‘boomin’ and zoomin’ because they can see the perils of socialism now, and prefer to make money.

      Remember Bambam being told off by a Euro leader that he’s going down the wrong track vis a vis socialism? I believe it was Sarcozy who said that. The only ones who actually would talk to him during the G20 meeting was Harper and the Saudi.

    • proreason says:

      “It wouldn’t surprise me in the least if one day the entire economy stops dead in its’ tracks ”

      We calculate unemployment now differently than during the Depression, when the numbers were regularly in the teens and sometimes in the 20’s. If we calculated the same way, unemployment %’s now would not be much lower than then.

      The reason the country hasn’t collapsed is because of government payments (unemployment, Social Security, Medicare and the equivalently huge welfare payments mostly by states for dozens of reasons).

      In a way, that’s a good thing, but it isn’t sustainable. The money is simply borrowed from the future. The scheme cannot sustain itself, and as you say, the whole economy could collapse.

      There are only two ways out:
      1. a dramatic, sweeping decrease in lifestyles, from top to bottom.
      2. a dramatic, sweeping change in government policy, including cutting taxes to encourage job creation and cutting government at all levels.

      It’s hard to say exactly how close we are to the edge is because the situation is so complicated and because the people in the best positions to know are blinded by ideology.

      I’m beginning to fear that there will soon have to be cuts (or more freezing) of Social Security and Medicare payments. If that happens, I personally believe many politicians should be executed for their crimes. Most people on Social Security have paid for those payments many times over most. The same is probably not true for Medicare, although there be the same sort of uproar if those payments are changed.

      All of this could have been avoided. The Ruling Class are criminals beyond imagination. They have placed their comfort and power above the security of the nation.

  8. Rusty Shackleford says:

    What I always like is that whenever I see that graph, all I can think of is “hockey stick”. Seems the AGW greenies were right after all, just looking in the wrong place for data.

    • U NO HOO says:

      What I notice is that unemployment is decreasing until Obama, and Hilary, announce as candidates for POTUS.

      (Early 2007)


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