"Unemployment falls below 6% for first time since 2008"

Unemployment falls below 6% for first time since 2008
http://money.cnn.com/2014/10/03/new...ployment-below-6-percent/index.html?hpt=hp_t1

------------------------------------------------
This is Great Economic News for America! We are now at the lowest unemployment rate in 6 years. In September, 248,000 new jobs were also added. The current Democratic administration has been working hard to address the issues at hand with unemployment and these latest figures reflect their hard work.

 

Before anybody in the Obama Admn breaks their arms patting themselves on the back, they should also tell the people that the reason unemployment rate dropped is because the labor participation rate in this country is at a 36 year low. We have 92.6 million Americans not even in the labor force anymore. Bottom line, millions of people just said (*)(*)(*)(*) it! Now they live off welfare or they retired. The American Dream is as dead as a doornail for everybody except the trust fund babies who have been "rescued" by the Fed in the stock market. Take a look at this http://www.zerohedge.com/news/2014-...low-record-926-million-americans-not-labor-fo

 

Well at least we have our Grandparent back to work with those near zero interest rates that don't earn squat on their retirement savings funds. With food inflation over 20% ytd the government will soon whittle away at that also.
Why should they enjoy retirement when the chicken hawks need all the tax dollars they can get to bomb civilians in Iraq and Syria. Get to work Grandma.

""Hiring Grandparents Only": 230K September Jobs Added In 55-69 Age Group; 10K Lost In Prime, 25-54 Group
Submitted by Tyler Durden on 10/03/2014 - 11:00
The further one digs into today's "blockbuster" jobs report, the uglier it gets. Because it is not only the participation rate collapse, the slide in average earnings, but, topping it all off, we just learned that the future of the US workforce is bleak. In fact, with the age of the median employed male now in their mid-40's, the US workforce has never been older. Case in point: the September data confimed that the whopping surge in jobs... was thanks to your "grandparents" those in the 55-69 age group, which comprised the vast majority of the job additions in the month, at a whopping 230K.This was the biggest monthly jobs increase in the 55 and over age group since February! What about the prime worker demographic, those aged 25-54 and whose work output is supposed to propel the US economy forward? They lost 10,000 jobs. "
.

 

The safety net has become a hammock.





​

 

Yep, the fewer people that look for work means a lower unemployment rate.

Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force

 

number of employed went up MUCH more than the decrease in the labor participation force.


sorry.

- - - Updated - - -

number of new hires far exceed the number of people who left the labor force.

so yes, unemployment IS going down.

 

Low wage service and retail jobs.

 

prove it

 

No. The job sectors were listed on MSNBC this morning. How about you prove high paying manufacturing jobs employed most of those 248,000?! Bet you can't!

 

link??????

- - - Updated - - -

Professional and business services led the job gains with 81,000. Retail added 35,000; leisure and hospital, 33,000; and health care, 23,000.

Construction, meanwhile, added 16,000 jobs and manufacturing, just 4,000.

http://www.usatoday.com/story/money/business/2014/10/03/september-jobs-report/16614291/

 

250,000 people enter the labor market every month................you do the math and get back to me on how well we are doing

 

we're doing ok, as new jobs exceeded number of folks leaving the workforce

 

you don't have to apologize for being wrong

315,000 dropped out of the labor force
248,000 jobs created

im not sure what liberal math you been taught but 315,000 is greater then 248,000

 

*L*

Are they still using the birth-death model to pad the numbers?

 

now go to the BLS website and see that its NOT retirees that are "leaving the workforce"

Its 16-44 year olds...........

http://www.bls.gov/emp/ep_table_303.htm

- - - Updated - - -

shhhhh

common core

round up

LOL

this is nothing but a political stunt as its the last UE report before the election..........

 

Service and retail. You do know what jobs fall under those two categories right? Only 20,000 jobs were added for the better paying construction and manufacturing jobs.

- - - Updated - - -

If it makes the numbers look better well then of course our government is.

 

sorry bro, but less than 100,000 people left the labor force.

you must have been reading Faux News.

 

buzz, wrong again and for your consolation prize you get to sit in the corner with a dunce hat on

what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!
http://www.zerohedge.com/news/2014-...low-record-926-million-americans-not-labor-fo


a dip in the labor participation rate from 315,000 people dropping out of the labor force.
http://fortune.com/2014/10/03/jobs-report-spurs-market-rebound/

dam will you look at that neither from Fox News

 

http://www.paulcraigroberts.org/2014/10/03/bad-news-jobs-front-paul-craig-roberts/

The Bureau of Labor Statistics headline this morning reads: “Payroll employment increases by 248,000 in September; unemployment rate declines to 5.9%.”

How can this be? As I reported yesterday, US corporations are investing in buying back their own stocks, not in new business ventures that produce new jobs. http://www.paulcraigroberts.org/2014/10/02/poverty-report-contradicts-gdp-claims-paul-craig-roberts/

According to the Census Bureau’s Poverty Report, US real median family income has declined to the level of twenty years ago. http://www.census.gov/content/dam/Census/library/publications/2014/demo/p60-249.pdf

Consumer credit and real retail sales are not growing. Construction is limited to rental units. Construction shows 16,000 new jobs, half of which are “specialty trade contractors” or home remodelers.

The payroll jobs report lists 35,300 new jobs in retail trade. How is this possible when J.C. Penny’s, Macy’s, Sears, and the dollar store chains are in trouble and closing stores, and shopping centers are renting space by the day or hour?

At a time when there is a surfeit of office buildings and only 500 new jobs in “heavy and civil engineering construction,” the jobs report says 6,000 new jobs have been created in “architectural and engineering services.” What work are these architects and engineers doing?

The 4,900 computer systems jobs, if they exist, are likely short-term contracts from 6 to 18 months. Those who have the jobs are not employees but “independent contractors.”

The payroll jobs report gives an unusually high number–81,000–of “professional and business services” jobs of which 60,000 are “administrative and waste services,” primarily “temporary help services.”

“Health care and social assistance” accounts for 22,700 of the new jobs, of which 63 percent consist of “ambulatory health care services.”

“Performing arts and spectator sports” gave the economy 7,200 jobs, and 20,400 Americans found employment as waitresses and bartenders.

State governments hired 22,000 people.

Let’s overlook the contribution of the discredited “birth-death model” which overstates on average the monthly payroll jobs by at least 50,000, and let’s ignore the manipulation of seasonal adjustments. Instead, let’s assume the numbers are real. What kind of economy are we looking at?

We are looking at the workforce of a third world country with the vast bulk of the jobs in low-pay domestic service jobs. People working these part-time and independent contractor jobs cannot form a household or obtain a mortgage.

As John Titus, Dave Kranzler and I have shown, these jobs are filled by those aged 55 and over who take the low paying jobs in order to supplement meager retirement incomes. The baby boomers are the only part of the US labor force whose participation rate is rising. http://www.paulcraigroberts.org/2014/09/04/lie-serves-rich-roberts-titus-kranzler/ Of the claimed new jobs in September, 230,000 or 93 percent were jobs filled by those 55 and older. Employment of Americans of prime working age (25-54) declined by10,000 jobs in September from the August level. http://www.bls.gov/news.release/empsit.t09.htm

As the US labor force continues its transition from first world to third world, real median family income will continue to decline. Ladders of upward mobility will continue to be dismantled, and income and wealth will continue to concentrate in the pockets of the One Percent. America is truly a country run for the few.

 

Though I am very glad to hear the news, I still have my doubts.
Like, what is the context? How the data were collected? What factors were included?
I don't believe that situation can change considerably within a month.

 

No matter how much people want to quibble the numbers show improvement. Labor force participation is going to continue to decline because the population is getting older and more people will retire early if they can. And manufacturing jobs will decline because wages are much lower overseas which is part of the long standing shift away from manufacturing in the US.Also for manufacturing that remains automation will continue to reduce the number of employees required.

Also deleveraging both by the government and individual households will reduce demand for goods. Individual savings rate has increased which while probably good for individuals does reduce consumer demand.

There are a lot of long term trends that are going to work against full employment and to pretend that these are either Republican or Democratic is silly. The real question is what can actually be done to change the long existing dynamic that influences employment levels.

 

More Bad News From The Jobs Front — Paul Craig Roberts


October 3, 2014 | Categories: Articles & Columns | Tags: | Print This Article Print This Article

More Bad News From The Jobs Front

Paul Craig Roberts

The Bureau of Labor Statistics headline this morning reads: “Payroll employment increases by 248,000 in September; unemployment rate declines to 5.9%.”

How can this be? As I reported yesterday, US corporations are investing in buying back their own stocks, not in new business ventures that produce new jobs. http://www.paulcraigroberts.org/2014/10/02/poverty-report-contradicts-gdp-claims-paul-craig-roberts/

According to the Census Bureau’s Poverty Report, US real median family income has declined to the level of twenty years ago. http://www.census.gov/content/dam/Census/library/publications/2014/demo/p60-249.pdf

Consumer credit and real retail sales are not growing. Construction is limited to rental units. Construction shows 16,000 new jobs, half of which are “specialty trade contractors” or home remodelers.

The payroll jobs report lists 35,300 new jobs in retail trade. How is this possible when J.C. Penny’s, Macy’s, Sears, and the dollar store chains are in trouble and closing stores, and shopping centers are renting space by the day or hour?

At a time when there is a surfeit of office buildings and only 500 new jobs in “heavy and civil engineering construction,” the jobs report says 6,000 new jobs have been created in “architectural and engineering services.” What work are these architects and engineers doing?

The 4,900 computer systems jobs, if they exist, are likely short-term contracts from 6 to 18 months. Those who have the jobs are not employees but “independent contractors.”

The payroll jobs report gives an unusually high number–81,000–of “professional and business services” jobs of which 60,000 are “administrative and waste services,” primarily “temporary help services.”

“Health care and social assistance” accounts for 22,700 of the new jobs, of which 63 percent consist of “ambulatory health care services.”

“Performing arts and spectator sports” gave the economy 7,200 jobs, and 20,400 Americans found employment as waitresses and bartenders.

State governments hired 22,000 people.

Let’s overlook the contribution of the discredited “birth-death model” which overstates on average the monthly payroll jobs by at least 50,000, and let’s ignore the manipulation of seasonal adjustments. Instead, let’s assume the numbers are real. What kind of economy are we looking at?

We are looking at the workforce of a third world country with the vast bulk of the jobs in low-pay domestic service jobs. People working these part-time and independent contractor jobs cannot form a household or obtain a mortgage.

As John Titus, Dave Kranzler and I have shown, these jobs are filled by those aged 55 and over who take the low paying jobs in order to supplement meager retirement incomes. The baby boomers are the only part of the US labor force whose participation rate is rising. http://www.paulcraigroberts.org/2014/09/04/lie-serves-rich-roberts-titus-kranzler/ Of the claimed new jobs in September, 230,000 or 93 percent were jobs filled by those 55 and older. Employment of Americans of prime working age (25-54) declined by10,000 jobs in September from the August level. http://www.bls.gov/news.release/empsit.t09.htm

As the US labor force continues its transition from first world to third world, real median family income will continue to decline. Ladders of upward mobility will continue to be dismantled, and income and wealth will continue to concentrate in the pockets of the One Percent. America is truly a country run for the few.

 

This news for stupid sheep. Same as the talk of an "exceptional nation". Media tell myths, and fails to show other records - the number excluded from the labor force (which are not included in the calculation of unemployment) has updated the historical record, reaching 92.6 million Americans, and the ratio of workers to population has updated the minimum level for 36 years:

 

And this bogus report also comes out before what in November? They said Clinton had a balanced and a surplus in the budget when all it was is teaching someone how to right it that way on paper and getting the American people to believe it. If yall believe the unemployment rate to be that good, more power to you.

 

it comes out the same time, every month.