Quote:The U.S. unemployment rate dipped below 6 percent for the first time since July 2008, with nonfarm payrolls adding 248,000 new jobs in September, the Bureau of Labor Statistics reports.
The jobless rate fell 0.2 percentage points to 5.9 percent. Employment increased in professional and business services, retail trade and health care, BLS says. The data were stronger than expected. Employers also added about 69,000 more jobs in July and August than the government first reported.
The median forecast among economists surveyed by Bloomberg had called for 215,000 new jobs in September.
Jason Furman, chairman of the Council of Economic Advisers, said in a statement that the report extends the "longest streak of private-sector job growth on record.
"The data underscore that six years after the Great Recession â thanks to the hard work of the American people and in part to the policies the President has pursued â our economy has bounced back more strongly than most others around the world," Furman said.
Many economists consider 5.5 percent unemployment a "healthy number," and as the unemployment rate moves closer to that figure, The Associated Press says it "could ratchet up pressure on the Federal Reserve to raise its benchmark interest rate."
As NPR's John Ydstie reports, "Over the past few years, much of the decline in the unemployment rate has been attributed to people leaving the labor force. But, Jim O'Sullivan of High Frequency Economics says in 2014 it's largely job growth that's has pushed unemployment down."
Dean Maki, chief U.S. economist at Barclays PLC in New York, is quoted by Bloomberg as calling the latest data "strong across the board.
"The labor market continues to grow fast enough to keep pushing the unemployment rate down," Maki told Bloomberg.
Even with the new jobs, nearly 100,000 people stopped looking for work. The number of Americans working or looking for work was at 62.7 percent, the lowest proportion since February 1978, The Associated Press says.
http://www.npr.org/blogs/thetwo-way/2014...-9-percent
NPR? That is a mouthpiece for the DNC, isn't it?
"Even with the new jobs, nearly 100,000 people stopped looking for work. The number of Americans working or looking for work was at 62.7 percent, the lowest proportion since February 1978, The Associated Press says."
WideRight05's post is far more relevant that is the crap from the Obama butt lickers at NPR.
People could spin this either way they want. Yes unemployment dropped which is a good thing and many people did find work. But a lot of people gave up looking for a job which means they no longer factor into the rate, along with people being underemployed taking jobs making minimum wage or just above.
Harry Rex Vonner Wrote:WideRight05's post is far more relevant that is the crap from the Obama butt lickers at NPR.
Bureau of Labor Statistics, of which NPR used info from. But, you already knew that if you looked at the link in the op.
http://www.bls.gov/news.release/empsit.nr0.htm
Mr. Onion Head Wrote:People could spin this either way they want. Yes unemployment dropped which is a good thing and many people did find work. But a lot of people gave up looking for a job which means they no longer factor into the rate, along with people being underemployed taking jobs making minimum wage or just above.
Has anybody factored in the Baby Boomers leaving the labor force?
TheRealVille Wrote:Has anybody factored in the Baby Boomers leaving the labor force?
Has anyone figured in those who quit looking for work and are no longer counted? Has anyone figured in the explosion in the number of food stamp recipients? Has anyone figured in the overwhelming increase of people on "disability"? Has anyone figured in the underemployed? Has anyone figured in how many of these "jobs" are part time? Has anyone figured in the decrease in overall wages?
Don't ask Buck. The little pansy will claim it is all Bush's fault.
Harry Rex Vonner Wrote:Has anyone figured in those who quit looking for work and are no longer counted? Has anyone figured in the explosion in the number of food stamp recipients? Has anyone figured in the overwhelming increase of people on "disability"? Has anyone figured in the underemployed? Has anyone figured in how many of these "jobs" are part time? Has anyone figured in the decrease in overall wages?
Don't ask Buck. The little pansy will claim it is all Bush's fault.
Some here are too young to know your intention here. But, a few of us older guys clearly get the racist intention in your words that are bolded.
And don't forget how the numbers got doctored going into the last election either....With the midterms coming up, is anyone gullible enough to believe they wouldn't do it again?
Bob Seger Wrote:And don't forget how the numbers got doctored going into the last election either....With the midterms coming up, is anyone gullible enough to believe they wouldn't do it again?
Are you kidding? I don't believe at this point there is any limit to what they are capable of. Reminds me of King Canute who in his narcissistic arrogance believed he could command the tide to roll out. This administration takes that story one step further by then pretending it's actually happening.
In fact, that is the whole liberal/progressive strategy in a nut shell. Declare it and claim it no matter what.