Unemployment rate falls to 8.5% pointing to continued improvement in labor market

I was surprised no one had started a thread about the new unemployment figures with the rate dropping again. But the fact it fell explains it, had the rate increased we'd have seen 4-5 threads by now blaring the news.

The BLS reported another unexpected drop in the unemployment rate last month, to 8.5%, signalling continued improvement inthe employment situation.

http://www.bls.gov/news.release/empsit.nr0.htm

And unlike last month, the anti-good news crowd cannot blame it on discouraged workers: The number of discouraged workers, folks who want a want a job but haven't recently looked for one, fell by 210k, from 6.595m to 6.385m, indicating that more folks became "undiscouraged".

http://data.bls.gov/pdq/SurveyOutputServlet

An increase in the number of discouraged workers can improve that unemployment numbers, because they are not in the labor force. A fact that our conservative friends argued (with validity) was one of the reasons for the big drop in the unemployment rate last month.

But that is not the case this month. There were 210k fewer discouraged workers, which (all other things being equal) would have put some upward pressure on the unemployment rate. Yet thanks to an improving job market, the rate fell.

Private payroll jobs increased 212k, significantly above the 125k figures that is generally held necessary to signal an improving job picture.

We typically get a number of posts arguing that the improvement is because of seasonally hiring. However, the above figures are seasonally adjusted, to account for those typical seasonal swings. The unadjusted unemployment rate was 8.3%, for example.

While the 0.1 percentage point improvement is in itself a small change, what is more significant is that it comes following the 0.4 drop last month, which some argued was a fluke.

The end result is that the unemployment rate has dropped from over 9% four months ago to just 8.5% now.

A drop almost no one was predicting just four months ago, when the more pessimistic voices were proclaiming a double dip recession. And those predicting improvement thought 8.5% wouldn't be reached until the end of 2012, if at all.

 

This is the worst week for republicans in years!!!!

 

So great only 23 million unemployed or underemployed


http://www.reuters.com/article/2012/01/06/us-usa-economy-idUSTRE7BM0AB20120106

 

Sure, the economy has a ways to go to undo all the damage of the Great Recession.

But to those not invested in failure for political purposes, the improving trend in the labor market is good news.

 

http://www.politicalforum.com/current-events/225563-only-158k-jobs-created-december-not-200k.html

 

and cue the righties crying that your "blaming Bush"

because god knows pointing out that the economy collapsed in 2008 is assigning partisan blame.

 

Great recession? You exaggerate to forward a small agenda.

How much will unemployment go up when Obama fires 80,000 from the military.

I would say unemployment would improve if Obama policies and over-regulation was gone

 

This is 2012 it is now on Obama so start blaming Obama

 

Iriemon...We ALL know that T-Baggers will say anything to try to discredit this good news.
They like to throw around terms like "unAmerican" and "traitor".
But when their country begins to crawl out of a recession THEY MADE, they deny and discredit.

So I ask you Iriemon...who would YOU suppose is the "traitor"?
Who is NOT looking out for your country's best interests?

 

Good news, doesn't look good for the GOP. No wonder the drones are unhappy.

 

YES!
Blame OBAMA for undoing all the damage you T-Baggers did.
Blame OBAMA for saving your asses from a DEPRESSION.
Blame OBAMA for dragging your economy back to health with little to no cooperation from T-Baggers.

YES!
BLAME OBAMA!

 

I do, I blame him for the stock market doubling, unemployment falling, job loss of 800k a month turned into job creation....

 

How so?

Much less than the 500,000+ government workers that have lost their jobs over the past year due to cutting government.

Unemployment has been improving for the past year and a half. Under-regulation is what got us into this mess.

 

Obama has hurt job growth with his over regulation and policies. Obama only wants union jobs. This growth is in spite of Obama not because of Obama.


Tell what Obama has done to bring this about.

We will see how many jobs are lost over the next few months. We do know Obama is firing 80,000 from the military

 

Problem is that happened in spite of Obama's bad policies and over regulation

 

Looks like the party of no actually worked. By stopping/stalling obama's agenda, the economy is getting better.

No more bailouts... No more crony capitalism.. No more solyndra... NO more kickbacks... No more imaginary "shovel ready" jobs... No more stimulus that does nothing but waste taxpayer money!!!

Now in 2012, lets kick Obama butt out of office!!! And focus on making America great, once again!!!!

 

I certainly would not count those who for political purposes endeavor to undermine economic and job growth, including those who unfairly promote negative news to undermine confidence in the economy, as "patriots."

 

Growth has come in spite of Obama bad policies and over regulation. Obama has hurt the private sector. obama only wants union jobs to keep the union money coming in

http://blog.heritage.org/2011/09/07/morning-bell-four-ways-obama-has-blocked-job-growth/

 

Four months ago our conservative friends were telling us how we would see unemployment increasing toward 10% in a double dip recession.

 

You mean like Obama and Reid?

 

I don't think Bachmann did anything to help this nation, ever. I actually blame her for injecting idiocy into the Tea Party.

Whatever the cause, the public will boost their Obama vote. I fear it's impossible to beat him if the trend continues.

 

then I guess they werent that bad and we arent over regulated

 

You think?

The "experts" here at PF disagree with you and say it's Obama's doing.

 

I wasn't thinking of them. When did Obama or Reid unfairly promote negative news to undermine confidence in the economy?

 

PROVE IT!

PROVE IT!

Psst...can you say...800 BILLION DOLLARS? How about government spending? Can you say that? You T-Baggers were and are DEAD WRONG about regulation AND government spending...and the PROOF...my Tea-Drunk friend...is in the numbers. Here's a Kleenex...Oh I do hate to see a grown man cry...

Yes we will. I heard a local business report this morning. They said that, although they expect EU economic forces to have a negative impact on us up here, they also expect the US recovery to be rather strong and will more than compensate.

WHOOPIEEEEE!
We "Socialists" never had a recession...and now my houise will continue to go up in value...how's your's doin' BTW...LOL