Nonfarm payrolls drop 131,000 in July

[Roland99]

Source: MarketWatch

Nonfarm payrolls drop 131,000 in July
Private payrolls up 71,000, economists had been expecting growth of 100,000

U.S. employers continued to hire but at a sluggish pace that adds to pessimism about the economic outlook and may put pressure of the Federal Reserve to take more steps to support the economy.

Private sector payrolls rose by an estimated 71,000 in July, the Labor Department said.

Total nonfarm payrolls fell by a seasonally adjusted 131,000 in July, but all the lost jobs were temporary jobs at the U.S. Census.

...

The nation's unemployment rate held steady at 9.5%.

Read more: http://www.marketwatch.com/story/nonfarm-payrolls-drop-131000-in-july-2010-08-06?dist=beforebell

[mahatmakanejeeves]

1. THE EMPLOYMENT SITUATION -- JULY 2010

Source: Bureau of Labor Statistics

THE EMPLOYMENT SITUATION -- JULY 2010

Total nonfarm payroll employment declined by 131,000 in July, and the unem-
ployment rate was unchanged at 9.5 percent, the U.S. Bureau of Labor Statis-
tics reported today. Federal government employment fell, as 143,000 temporary
workers hired for the decennial census completed their work. Private-sector
payroll employment edged up by 71,000.

Household Survey Data

Both the number of unemployed persons, at 14.6 million, and the unemployment
rate, at 9.5 percent, were unchanged in July. (See table A-1.)

Among the major worker groups, the unemployment rate for adult men (9.7 per-
cent), adult women (7.9 percent), teenagers (26.1 percent), whites (8.6 per-
cent), blacks (15.6 percent), and Hispanics (12.1 percent) showed little or no
change in July. The jobless rate for Asians was 8.2 percent, not seasonally
adjusted. (See tables A-1, A-2, and A-3.)

In July, the number of long-term unemployed (those jobless for 27 weeks and
over) was little changed at 6.6 million. These individuals made up 44.9 per-
cent of unemployed persons. (See table A-12.)

Read more: http://www.bls.gov/news.release/empsit.nr0.htm

[Lost4words]

3. when can we stop calling this shit a RECOVERY already???

ita a God damn depression!

[AngryAmish]

4. It's recovery summer

Look at the website. That will make you feel better.

[RBInMaine]

5. Please read up on basic economics. The economy IS expanding, just slowly. These numbers are about

the ending of temporary census jobs. Look at the private sector growth of 71,000 jobs. That is the important number. The overall unemployment rate remains unchanged. When Obama took office we were still LOSING about 700,000 private sector jobs a month. Now we are gaining again, just not fast enough yet due to hesitant business lending and firms wanting more time to build up capital. Most economists across the spectrum predict continued though slow growth over the next year or so. No need to use hyperbole like "depression." That simply is not the case. Yes, way too many people are out of work, but slow expansion does continue, and we WOULD be in a great depression if not for the measures taken by Obama and Dems including what they just did to save hundreds of thousands of teacher and public safety jobs with added stimulus. We need the small business lending bill, and we DO NOT need the Republican plan which is massive tax cuts for the rich and a return to Wall Street deregulation.

[Raggz]

19. It is a recovery - the only problem is that there are no jobs

The economy is growing.

[mahatmakanejeeves]

2. THE EMPLOYMENT SITUATION -- JULY 2010

This thread has been combined with another thread.

Click here to read this message in its new location.

[RBInMaine]

6. It should say PRIVATE SECTOR PAYROLLS UP 71,000, UNEMPLOYMENT UNCHANGED. (Fucking corporate media.)

[totodeinhere]

11. Some people refuse to take off their rose colored glasses.

You failed to mention that "the government revised payrolls for May and June to show 97,000 fewer jobs than previously reported." This is bad news unless you want to put a partisan spin to it.

http://www.cnbc.com/id/38590746

[TomCADem]

7. Government Layoffs Accounted For Layoffs! Private Employers Added 71,000....

...But I doubt the media will stray from its Big Government Obama narrative. The lies will continue.

[lib2DaBone]

8. U.S. To Train 3000 Offshore IT Workers in Southe Asia.....

http://www.informationweek.com/news/software/integration/showArticle.jhtml?articleID=226500202&subSection=News

[raouldukelives]

9. I'm just glad the unemployment rate is accurate

If somehow the unemployment was higher than 9.5% we might have trouble. Praise be to the economic gods that we haven't cracked 10%.

[DallasNE]

10. A Problem Floating Under The Radar

Is the continuing problem with government layoffs. Not only were there the 131,000 census workers that were layed off but there were another 59,000 government workers layed off. One presumes that these were mostly State and local government layoffs -- namely police, fire fighters and teachers -- the very people targeted for job extensions but denied by Republican filibuster until very recently when some pork for shipbuilders in Maine was added to get Sen. Snowe's vote to break the filibuster. Nearly 200,000 government jobs in one month is a lot of headwind to overcome.

[TheWatcher]

12. And this just sinks to the Bottom.

If you want to get some attention, find an article that Spins today's news into the second coming of the Mania Bubble of 1999, and how this can only lead to permanent prosperity and a Robust Recovery.

It will surely get 50,000 Recs in 10 Minutes.

Just Another Day In The Land Of Confusion.

[Raggz]

13. US job losses are double expected figure

Source: The Guardian (UK)

Employers in the US shed twice as many jobs as expected in July, adding to fears that the recovery in the world's largest economy will not see a revival in employment.

The dismal US job figures came as the National Institute of Economic and Social Research predicted a protracted depression for the UK economy.

Across the Atlantic talk of a double-dip recession was revived when the government revealed 131,000 jobs were lost last month. That dwarfed forecasts for a fall of 65,000. June's drop was also revised to a far steeper 221,000 from 125,000.

The July drop was mainly due to work by temporary staff on the government census coming to an end. But private hiring was also weaker than expected.

Economists forecast that private-sector jobs would rise by 90,000, but in the event only 71,000 were added.


Read more: http://www.guardian.co.uk/business/2010/aug/06/us-job-losses-double-expected

---

US business is making a lot of profit, so why do they keep laying people off?

They cannot plan, because our government is rapidly changing the rules and the tax rates. They will wait until all of the reforms are completed and only then invest in US jobs.

Until then there are many parts of the world where the rules are stable and where planning is possible. These areas will get the jobs, for now.

[DJ13]

14. Let me restate

The economy as it existed under Bush was broken.

Unless its changed in meaningful ways to improve the lives of everyday people it will remain broken.

[Raggz]

16. Then get the reforms done - FAST

There can be no jobs until the reforms are completed. No business invests in any nation that has not yet defined the rules.

When we reform our rules, set our tax rates, figure out health care, revise our environmental policies - ONLY then will job creating investments begin again.

[DJ13]

17. No argument on fast

But theres a strong resistance to getting through the needed reforms (not just empty rhetoric) from the business lobby and their bought and paid for Congress members.

Were screwed until those in Congress begin to start putting the good of the country ahead of the size of their campaign war chests.

[Raggz]

18. We need a realistic reform plan

There is no real reform plan or list. There needs to be a list and it needs to be completed. There needs to be a plan and some organization.

Then, when the reforms are completed we announce that businesses can make plans, that our government will promote stability, and that jobs may again be created.


I am not a member of any organized political party. I am a Democrat.
Will Rogers

[TheWatcher]

15. Don't worry. It's just the Census Workers being laid off. The Economy is Strong & Getting Stronger

[Raggz]

20. Link to Obama Administration numbers - bypass the media

Employment Situation

August 06, 2010

Total nonfarm payroll employment declined by 131,000 in July, and the unemployment rate was unchanged at 9.5 percent. Federal government employment fell, as 143,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment edged up by 71,000.

http://www.bls.gov/news.release/empsit.nr0.htm

[Raggz]

21. Obama: good sign US economy added private sector jobs

http://www.reuters.com/article/idUSWEN857620100806