Economy going the wrong direction

[mendeleev 68]

The unemployment rate unexpectedly dropped to 9.4% in July, an increase to 9.6% had been expected. The number of job losses last month, 247,000 was the lowest in a year.

An alternate estimate of the underemployment rate, which counts discouraged workers and workers forced into part time work who want to work full time, dropped to 16.3% from 16.5%.

The average work week in the manufacturing sector rose to 39.8 hours from 39.5 hours. The average work week overall rose to 33.1 hours/week from 33.0 hours/week in June.

"We view it as a clear signal that the economy was emerging from the recession in July," wrote Dean Maki, chief U.S. economist for Barclays Capital.

Waiting for the wingnuts to come and tell us why all of this is bad news.

[HAL 9000 96]

Well they could claim there's less jobs to lose than before.

[luckytxn 2,264]

Yeah 9.4% is good news.

[alienlovechild 75]

Waiting for the wingnuts to come and tell us why all of this is bad news.

It's not bad new per se but after hearing for months how we need to give Obama's economic plan more time when there was bad news, now we're supposed to get overjoyed by a small shift in employment for a month. Over 9% unemployment is pretty bad news if it continues.

No one has argued that our current recession arose from problems from health care but that's where most of the focus is. The irony is most jobs created came from (gasp) our heartless health care system and government jobs.

[Mr. Big Dog 10,747]

It's looking to be tough times for the GOP. Very tough times. Good for the nation, though.

[Ban Hammer 13,445]

Well they could claim there's less jobs to lose than before.

or they've dropped off the rolls for being there too long.

[ScottThuy 140]

Well they could claim there's less jobs to lose than before.

or they've dropped off the rolls for being there too long.

I agree Charles... fewer claims because fewer employed and fewer on the rolls because they have maxed out the extended benefit... It would be nice to know the actual number of unemployed compared to the number getting unemployment benefits... likely a huge disparity..

[Mr. Big Dog 10,747]

It would be nice to know the actual number of unemployed compared to the number getting unemployment benefits... likely a huge disparity..

Yeah, reading the actual numbers might help.

An alternate estimate of the underemployment rate, which counts discouraged workers and workers forced into part time work who want to work full time, dropped to 16.3% from 16.5%.

[thepizzadude 26]

Well not to beat a dead horse but they said on the ####### tube that they dropped 700k people from the count, said these are the ones that have actively stopped looking for work so they don't count them....

Hmmm...wonder what they mean by that besides these are the ones that have given up....

[Mr. Big Dog 10,747]

Well not to beat a dead horse but they said on the ####### tube that they dropped 700k people from the count, said these are the ones that have actively stopped looking for work so they don't count them....

Hmmm...wonder what they mean by that besides these are the ones that have given up....

Okay, this is not difficult. Counting the discouraged and under-employed, the rate is now 16.3% vs. 16.5% in the previous month. It's right in the original post and I repeated it just above your post for those that apparently didn't read that far down in the short article. Got it now?

[GaryC 7]

Well not to beat a dead horse but they said on the ####### tube that they dropped 700k people from the count, said these are the ones that have actively stopped looking for work so they don't count them....

Hmmm...wonder what they mean by that besides these are the ones that have given up....

Okay, this is not difficult. Counting the discouraged and under-employed, the rate is now 16.3% vs. 16.5% in the previous month. It's right in the original post and I repeated it just above your post for those that apparently didn't read that far down in the short article. Got it now?

They are only massaging the numbers to make it look better. You know how things work.

[HAL 9000 96]

It would be nice to know the actual number of unemployed compared to the number getting unemployment benefits... likely a huge disparity..

Yeah, reading the actual numbers might help.

An alternate estimate of the underemployment rate, which counts discouraged workers and workers forced into part time work who want to work full time, dropped to 16.3% from 16.5%.