Economic B.S headline: "Surprisingly strong jobs data signal turning point"

[brentspeak]

(edited for copyright purpose-prous patriot Modererator Democratic Underground)


"Strong" jobs data???????????????????????????

Apparently, both the mainstream media and the Obama administration are still more than willing to use unrefined B.S. to spin reality (i.e., as unemployment benefits run out, people are no longer counted as "unemployed"; calling a 0.1 drop in the unemployment rate somehow = "strength")

http://news.yahoo.com/s/ap/20090807/ap_on_bi_ge/us_economy

Surprisingly strong jobs data signal turning point

By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer – 2 hrs 30 mins ago

WASHINGTON – It's the clearest sign yet the recession is finally ending: Employers laid off far fewer workers in July, the jobless rate dipped for the first time in 15 months and workers' hours and pay edged upward. Those are the kind of figures that could give Americans the psychological boost necessary for recovery to take root after the worst recession since World War II.

A net total of 247,000 jobs were lost last month, the fewest in a year and a drastic improvement from the 443,000 that vanished in June.

The Labor Department's report Friday showed that the unemployment rate dropped a notch to 9.4 percent in July, from 9.5 percent the previous month. Together with slight increases in the average workweek and wages, the new figures suggested the economy is in a transition from recession to recovery.

"The worst may be behind us," President Barack Obama declared. "Today, we're pointed in the right direction."

Still, the job market remains shaky. A quarter-million lost jobs are a far cry from the employment growth needed to put the national economy on solid footing.

When the economy is healthy, employers need to add a net total of around 125,000 jobs a month just to keep the unemployment rate stable. And to push the jobless rate down to a more normal 5 percent range, it would take much stronger growth — at least 200,000 new jobs a month. Economists say it might take until 2013 to drive down the unemployment rate to 5 percent.

[neverforget]

1. Less bad is the new good. Enjoy your chocolate ration.

[Thrill]

2. And the Obama administration? You must have missed Obama's hold speech today

[Kdillard]

3. Yawn. The President also said while he was happy about the news

he was not satisfied and that he expects the unemployment rate to get to 10 %. Not liking or agreeing with the President on policy is one thing but the blatant disregard for putting forth the whole story doesn't speak well of you. Unlike you the President took the good news in stride and sought to keep things centered on reality..

[Teaser]

4. How can -1 be > than -2???

I mean, they're both negative

</dumbass>

[jenmito]

5. I guess you missed everyone from the admin., including Obama himself, speaking today about how

unemployment is still going to hit double digits, how weak the economy still is, and how today's numbers just show the economy is getting worse less quickly which is a good sign but nothing to "pop the champagne" over. You should really know what you're talking about before shooting off another negative thread just for the sake of shooting off another negative thread.

[quiller4]

6. Thank you. You were more diplomatic than I would have been.

[Juche]

13. I think it is supposed to hit 10% this year, then 11% in 2010.

That is what nouriel Roubini said, and he more or less talked about the possibility for another recession a few years from now and the likelihood of a jobless recovery.

[Name removed]

7. Deleted message

Message removed by moderator. Click here to review the message board rules.

[firedupdem]

8. LOL!!

Sad ain't it? Stuck on negative.

[Cali_Democrat]

9. I love this new unrec feature

:)

[Hamlette]

10. it is GREAT news

the way the unemployed number is calculated is not an accurate reflection of unemployed in this country but, we have been losing twice as many jobs per month for the last few months.

I'll take 247,000.

Of course, I work at the state unemployment office so I'm a tad selfish. It's been draining dealing with so much misery the last 1.5 years. I'm happy only half as many lost their jobs than "normal".

[SpartanDem]

11. Nice job with the GOP talking points

Face it you and the GOP would've hates the news no matter what, if the numbers where worse than expected you and the GOP would've been pushing "see the stimulus isn't working" meme. Funny that that you're the basically spewing the GOP talking points about this news

WASHINGTON (CNN) – Just 20 minutes after the release of July's unemployment report, The Republican National Committe released a statement slamming President Obama for taking a "victory lap" over some better-than-expected economic indicators:

"While President Obama was taking a victory lap to celebrate the economy's performance, more Americans lost their jobs and the budget deficit soared to a record $1.3 trillion in July. In the month of July alone 247,000 Americans lost their jobs, which means more than 2.8 million Americans have lost their jobs since the president took office," said RNC Chairman Michael Steele in an e-mail. "The president said his stimulus bill would keep unemployment from rising higher than 8 percent. It hasn't. Now he expects Americans to believe his trillion-dollar health care experiment will improve their health care? It won't. America simply can't afford more of the president's costly experiments."

http://politicalticker.blogs.cnn.com/2009/08/07/republicans-react-to-jobless-report/

[brentspeak]

12. Yes or no: is the article B.S.?

See? You can't respond to the content of the article other than attack me, the messenger.

BTW, there's tons of left-of-center commentators, economists, you-name-it who have been complaining for decades now how the media and the WH (whoever's in the White House) will tailor bogus data to paint rosy pictures of the economy. http://www.huffingtonpost.com/2009/08/07/if-the-economy-lost-24700_n_254216.html">Duh.

[SpartanDem]

15. No, the numbers are stronger than expected

and the article points outs the economy is still on shaky ground. The White House is not painting a rosy picture of the economy it still predicts that unemployment may go higher.

My point remains that you and the GOP seem to be denial about us trending in the right direction

[geek tragedy]

14. Proudly unrec'd thus garbage post,

With 'peogressives' like this, who needs Teabaggers?

[dionysus]

16. the energizer bunny of bullcrap.

:rofl: