Good unemployment numbers this morning

[Ripsnort]

Nonfarm businesses added 112,000 jobs to their payrolls in January. It was the largest gain since December 2000, when companies added 124,000 positions, and well above the revised 16,000-job gain seen at the end of last year. That number had initially been estimated at 1,000 jobs.

The unemployment rate fell a tenth of a percentage point to 5.6%, the lowest rate since the 5.4% recorded in October 2001. Economists had expected the rate to tick up a tenth of a percentage point to 5.8%.




Not astounding, but a bigger gain than December.

[kappa]

Mexican migrant workers??

[ra]

Another month of less-than-expected job creation.  Who are these economists who keep over-predicting job growth?  They need to get out of their bunkers more often.  US companies are indeed creating hundreds of thousands of jobs each month -- in Asia.

ra

[Ripsnort]

Originally posted by kappa
Mexican migrant workers??

I'm not sure what your question is Kappa?

Here is the state by state quick look, only covering up to Dec. 2003 though. It doesn't show Jan. 2004

http://www.bls.gov/eag/home.htm

[gofaster]

Didn't I read that not too long ago they changed the definition of "unemployed" when making the calculations?

[MrLars]

Originally posted by Ripsnort
Nonfarm businesses added 112,000 jobs to their payrolls in January. It was the largest gain since December 2000, when companies added 124,000 positions, and well above the revised 16,000-job gain seen at the end of last year. That number had initially been estimated at 1,000 jobs.

The unemployment rate fell a tenth of a percentage point to 5.6%, the lowest rate since the 5.4% recorded in October 2001. Economists had expected the rate to tick up a tenth of a percentage point to 5.8%.




Not astounding, but a bigger gain than December.

Not astrounding at all considering they were expecting 175K+

http://biz.yahoo.com/rb/040206/economy_3.html

[lazs2]

every election time "they" change the way the numbers are crunched and every election time the party that isn't in power claims that the reason things are looking better is because so many people have just given up and are not collecting unemployment bennies... these people then live on what fat they have on their bodies and 3 weeks latter or so.... they die by the thousands but.... It is too late... the party in power is now in control again and they keep the numbers out even better than they keep out pictures of Bush bombing the world trade center.

lazs

[Ripsnort]

Originally posted by MrLars
Not astrounding at all considering they were expecting 175K+

http://biz.yahoo.com/rb/040206/economy_3.html

Analysts had been expecting the economy, which has been showing strength in areas outside the jobs market, to add 150,000 new jobs in January after an originally reported gain of only 1,000 the previous month. The department revised the December figure to an increase of 16,000.

112,000 compared to 150,000 (Shrugs) Still sounds like improvement, and thats a good thing, no?

[Dnil]

Are they still calculating unemployment by who files for unemployment benefits?

If so thats horsecrap.  I am still unemployed and my benefits ran out a couple months ago.  

So by that standard I am not being counted as unemployed.

Some times I feel we just live in a giant house of cards.

[Ripsnort]

Originally posted by Dnil
Are they still calculating unemployment by who files for unemployment benefits?

If so thats horsecrap.  I am still unemployed and my benefits ran out a couple months ago.  

So by that standard I am not being counted as unemployed.

Some times I feel we just live in a giant house of cards.

Employment has increased in Texas, here are the stats:
http://www.bls.gov/eag/eag.TX.htm

[kappa]

Originally posted by Dnil
Some times I feel we just live in a giant house of cards.

There are many good reasons for that feelings. Your not alone.. 8)

[Dnil]

Rip what is the point of that link?  

To show a stat that employment has increased in Texas.  


I am talking about something completely different.  I am not counted as unemployed.  I know a lot of other people in the same situation as me.  The government posts a bogus stat and it gets carried as the holy word when in reality its crap.

[gofaster]

Dnil is right. A lot of unemployment benefits expired recently for employees of my company that were let go in September.

[MrLars]

Originally posted by Ripsnort
112,000 compared to 150,000 (Shrugs) Still sounds like improvement, and thats a good thing, no?

Considering that we need a minimum of 175K new jobs, some say 200K+, to just keep up with people entering the workforce per month....all doesn't look as rosy as reported.

Cooking the books on unemployment, among other things, is just part of the smoke and mirrors we're seeing....some of us have IR vision though.

[lord dolf vader]

5 people gone out of 50 where i work. but management got nice fat bonuses.

two million jobs lost in this administration. did rubsnot mention that ?