MSNBC: August hiring "perked up" with 128,000 jobs

[Human Torch]

U.S. payrolls grew by 128,000 in August
Jobless rate edges down to 4.7 percent; data seen better than forecasts

Updated: 12 minutes ago

http://www.msnbc.msn.com/id/14620328/

WASHINGTON - Hiring perked up in August as employers added 128,000 jobs, pulling the unemployment rate down to 4.7 percent and flashing a Labor Day weekend message of an economic expansion that still has staying power.

The latest snapshot, released by the Labor Department Friday, was a bit brighter than expected and should ease any fears that the expansion that began in late 2001 is in danger of fizzling out.

Still, there are obvious weak spots; Construction spending plunged in July by the largest margin in nearly five years, the Commerce Department reported, another sign of the cooldown in the once sizzling housing market. In another report, the Institute for Supply Management said the manufacturing sector grew at a slower clip in August than in July.

---SNIP---

“Today’s report was solid and indicates that the economy is not falling away very quickly but it certainly wasn’t so spectacular that it renewed oversized fears of inflation,” said Carl Tannenbaum, chief economist at LaSalle Bank. “The report is right on the mark. Goldilocks may be coming. The economy is not too hot nor too cold,” he said.

[Justitia]

1. Wow, w/all that lipstick going on pigs, someone must own Revlon stock. nt

[hatrack]

2. About 30,000 below the number needed to keep pace w. population growth

Yes, that jobs machine is REALLY cranking up now!

:eyes:

[mike923]

5. Then wouldn't the unemployment percentage number increase?

It dropped .1 this month, which doesn't support your theory.

[Elwood P Dowd]

6. 150,000 to 170,000 new jobs needed each month just to break even

with population growth. The labor department is cooking the books.

[Skittles]

3. still whoring for bush

it's like saying your team lost to a certain team 45-0, but that's cool, that's GOOD news because last year they lost to that same team 60-0. :o

[Vickers]

4. Wow, that's like ONE new job for every town in America!

:eyes:

[Monk06]

7. Wow 128,000 students went back to school and someone else picked

up their part time jobs. Happy days are
here again

HAPPY DAYS ARE HERE AGAIN

So long sad times
Go long bad times
We are rid of you at last

Howdy gay times
Cloudy gray times
You are now a thing of the past

Happy days are here again
The skies above are clear again
So let's sing a song of cheer again
Happy days are here again

Altogether shout it now
There's no one
Who can doubt it now
So let's tell the world about it now
Happy days are here again

Your cares and troubles are gone
There'll be no more from now on
From now on ...

Happy days are here again
The skies above are clear again
So, Let's sing a song of cheer again

Happy times
Happy nights
Happy days
Are here again!

By J. Yellen and M. Ager


The most popular song after the crash
of 1929