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Pre-Election Jobs Report Shows
Some Gain; Rate 7.9%

CNBC, by Jeff Cox

Original Article

Posted By:jackson, 11/2/2012 8:44:36 AM

American job creation improved in October with 171,000 new jobs but the unemployment rate moved higher to 7.9 percent, setting the stage for a final push to the finish line in the heated presidential campaign.Economists had been expecting the report to show a net of 125,000 new jobs and a steadying of the unemployment rate at 7.8 percent. Nomura Securities predicted the rate would fall to 7.7 percent, but most expected no change. Most of the job creation came in the services sector, with a gain of 150,000, while government employment rolls saw a collective decrease of 13,000.

Comments:
$6 Trillion gets us to 7.9 - in only four years!! Yea!! Happy days are here again! And let the spinning begin.

      


Post Reply  

Reply 1 - Posted by: grayjay, 11/2/2012 8:49:22 AM     (No. 8981732)

The headline says the jobs report shows some gain. 171,000 jobs will never catch up with population growth.

Another interesting item in the report, which should be the headline, is:
"Unemployment for blacks showed the highest increase in the survey, surging to 14.3 percent from 13.4 percent."
And yet 85% of the blacks will vote for him.

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Reply 2 - Posted by: skedaddle, 11/2/2012 8:50:12 AM     (No. 8981733)

Absolute nonsense. But even if true, it hides the real problem which is all the really good jobs lost are being replaced with minimum wage jobs. If I lose a $25 an hour job with full benefits and replace it with a $8-$10 an hour job with no benefits, I'm not back where I started at all.

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Reply 3 - Posted by: Pearson365, 11/2/2012 9:05:12 AM     (No. 8981764)

As CNBC's Rick Santelli pointed out in his graphic at 8:33 am, there are 61,000 fewer people employed in the US today than in February, 2009. Rick was immediately attacked by CNBC's spinners for Obama.

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Reply 4 - Posted by: oh-heck, 11/2/2012 9:12:25 AM     (No. 8981780)

FTA: But unemployment for blacks showed the highest increase in the survey, surging to 14.3 percent from 13.4 percent.

Also, the average duration of unemployment climbed to a 2012 high of 40.2 weeks.

Taken comprehensively, the report was better than expected

Would CNBC be so genteel with a Republican President?

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Reply 5 - Posted by: Redneck In NY, 11/2/2012 9:13:00 AM     (No. 8981786)

Hmmm, did Cali forget to send in its numbers again?

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Reply 6 - Posted by: fireman28, 11/2/2012 9:13:32 AM     (No. 8981789)

An expert on FOX mentioned that if you were part-time and worked just an hour or two then you are counted "in the workforce".

So, if a company lays off 1 full time employee and hires 5 part timers (no benefits) they are really, really helping the numbers for The Won.

PS - stupid Geraldo on FOX still pedling with his Obama kneepads that the Won did everything he could for Bengazi.

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Reply 7 - Posted by: NorthernDog, 11/2/2012 9:24:05 AM     (No. 8981821)

I bet most new jobs are for the Christmas shopping season. Places like Amazon and other retailers hire lots of temp inventory and shipping jobs, which are terminated shortly after Christmastime.

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Reply 8 - Posted by: uno_thatguy, 11/2/2012 9:36:51 AM     (No. 8981855)

Your quote is wrong, OP. It's "Happy days are rare again!"

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Reply 9 - Posted by: MattO, 11/2/2012 9:37:23 AM     (No. 8981861)

Most if not all of the increase came from campaign related jobs. Paid internet, seminar posters. (4 hrs per wk) Vote registering jobs. (minimum wage + "bonuses". Voting machine hackers(full time in swing states unless voting software from Venezuela comes "pre-hacked"), driver to drive buses full of substitutes to vote in place of "folks" who can't make it due to unforeseen circumstances (may be attending their own funeral or busy voting in the state they moved to a few years back.

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Reply 10 - Posted by: BaseballFan, 11/2/2012 10:23:39 AM     (No. 8981996)

Well, I can't fault CNBC for remaining in full Obama Cheerleader mode; after all it's who they are, and it's what they do.

The fault in this lies (pun fully intended) with the BLS. Big Liars' Statistics.

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Reply 11 - Posted by: erv, 11/2/2012 10:37:43 AM     (No. 8982031)

#2 is correct. The average hourly wage fell by another cent last month. While one cent is not much, the continue falling of the hourly wage each month is adding up. Throw in the inflation rate and it is easy to see why many are having problems providing the basic necisities to their families, even whey they have a job. Obama has to go!

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