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Only 113K Jobs Added But Jobless Rate Dips .1%

From an unquestioning Associated Press:

US employers add 113K jobs; rate dips to 6.6 pct.

By CHRISTOPHER S. RUGABER | February 7, 2014

WASHINGTON (AP) — Hiring was surprisingly weak in January for the second straight month, likely renewing concern that the U.S. economy might be slowing after a strong finish [sic] last year.

Wow, even the AP has to admit things aren’t so hot. Though the low information types will never know that from the AP’s (intentionally) misleading headline.

By the way, where was the economy’s strong finish last year? We must have blinked and missed it.

The Labor Department says employers added 113,000 jobs… Still, more people began looking for work in January, a sign that they were optimistic about finding work. Some of these people found jobs, thereby reducing the unemployment rate to 6.6 percent. That’s the lowest rate since October 2008.

BS. More people looking for work would drive the unemployment rate up, not down. And we have been repeatedly told that it takes at least 150,000 new jobs a month just to keep the unemployment rate steady.

So if the unemployment rate has gone down it’s only because more people are leaving the workforce. In fact, more people are leaving the official jobless rolls because of the end of federal unemployment benefits.

Cold weather likely held back hiring in December, economists said, but the impact faded in January. Construction firms, which sometimes stop work in bad weather, added 48,000 jobs last month…

Even though the weather in January was far more harsh than December. The ‘Polar Vortex’ didn’t even begin until the first week of January.

This article was posted by Steve Gilbert on Friday, February 7th, 2014. Comments are currently closed.

2 Responses to “Only 113K Jobs Added But Jobless Rate Dips .1%”

  1. Know what this ‘article’ never does?

    Define ‘job’.

    In the Obama Misadministration this could mean anything from more prison population to dead people in the ground in Chicago because their corpse helps grow grass.

    Corpse. Not Corps.

  2. AcornsRNutz

    This cold weather thing is such malarkey. Not that I ever fully understood the practice, but when they seasonally adjust the numbers, wouldn’t that account for things like cold weather in the winter season? Despite the fact that no one has been able to satisfactorily explain to me how the season would affect the actual number of claims (ratios or percentages maybe) but if it somehow does, then how could the cold weather not be adjusted for? Ehh..it’s an exercise in futility to try to figure this crap out anymore.




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