July Unemployment Numbers Due Today (8:30)

[spinbaby]

WASHINGTON - The Labor Department is getting set to release the July unemployment numbers this morning at 8:30 a.m. EDT.

(This could get ugly, we'll see in a few minutes.)

http://story.news.yahoo.com/news?tmpl=story&u=/ap/20030801/ap_on_bi_go_ec_fi/economy&cid=668&ncid=716

[Noordam]

1. Some how I just do not believe Bushie ppl figures

and they are not out.

[tedoll78]

2. It's kinda sad..

I'd prefer a year of 10% unemployment if it meant getting rid of Bush. He'd do so much more damage in four more years than that one year of 10%.

So let it soar. The higher, the better. Overall, it's what's best for the country. So sad that it's come to this. Maybe the dumbf&ck voters will wake up when they can't afford to eat.

(yeah, I'm feeling nasty.. not a morning person..)

[tedoll78]

7. By the way..

I'm getting laid-off next Tuesday. Time for unemployment benefits. I can finally catch-up on finding everything in the latest Zelda game.. :shrug:

[alcuno]

13. I'm sorry to hear that.

Hope that you can find something you like. This economy is totally in the dumps.

[duid12]

9. thats real nice...

So, you'd like to see millions of people thrown out of work, houses forclosed on, marriages stressed, children suffering and a lot of additional damage down to the country so that the democratic party can get back into power? Mighty compassionate of you....no thanks. I think we need to change the administration and the balance of power, but I am not going to wish financial ruin on millions more people for ANY political agenda....

[tedoll78]

12. Look at it this way:

which is more harmful:

one year of 10% unemployment with a guaranteed Bush loss
or
five more years of Bush?

More suffering will occur with the latter.

[duid12]

18. warped logic

I guess it depends on if you are one of the 10% or not...still pretty selfish logic.

[KAZ]

31. Selfish, my ass.

I'm not saying I agree or disagree with tedoll, but he's saying a little pain now might avoid a lot more pain down the road. And if you bothered to read his posts, you would know that he's soon to be part of the unemployed.

[study_war_no_more]

37. whether you wish this or not

Its happening and thats the point. This is the revolution that was not telelvised.

[DemocratSinceBirth]

11. I Said Something To That Effect And Got Crucified

Face it, boys and girls, if the econmomy really takes off Bush will be reelected.

[MGKrebs]

24. Although you may be correct,

I'll take a better economy. I would hope that there are PLENTY of other issues to make our case with against shrub. If we (Democrats) can't get these other messages out there, it's our own damn fault.

Although I hope for a better economy, I don't really have a lot of confidence that it will improve, because I believe the policies these guys are doing (tax cuts) will not work. I mean really, what other economic policies do they have? It's laissez faire on everything but tax cuts.

[slappypan]

28. It's not a question of "hoping for the worst"

The simple fact is, wingnut economics doesn't work. Bush's policies are doing exactly what they were designed to do — create a low-tax, low growth economy with little to no job creation other than government spending on his campaign donors. No two ways about it, the Bush Economy is 100% intentional, no need to hope for the worst in order to get rid of Bush.

[brokensymmetry]

3. Up to 6.4%

30,000 more jobs - gone.

[punpirate]

4. The early hints are that the new filings...

... for unemployment will be down slightly. Since unemployment is calculated on who's working and who's not based on phone surveys and current unemployment claims (rather than including the number of people at the back end of receiving benefits who are going off the radar in this month) and new claims, this will very slightly improve the total unemployment percentage--that's my guess.

The _actual_ number of people unemployed, however, goes up steadily, since there aren't new jobs being created to fill those permanently gone, and because severely underemployed people (temps on minimum wage working 20 hours a week who formerly held better paying full-time jobs) are simply counted as employed, the figures will never accurately measure the real unemployment damage in the country, anyway.

But, we'll see.

Cheers.

[phillybri]

5. 6.2%, BUT.....

Down due to shrinking labor force, NOT job creation. Specifically in manufacturing sector.

Back to you President Hoover!

[Zech Marquis]

6. 6.4 percent--that's real ugly!

no wonder Faux and those other goons were spinning the GDP rate so much yesterday :eyes:

[spinbaby]

8. And it's down to 6.2%

http://story.news.yahoo.com/news?tmpl=story&u=/ap/20030801/ap_on_bi_go_ec_fi/economy&cid=668&ncid=716

WASHINGTON - The nation's unemployment rate declined to 6.2 percent in July as nearly half a million discouraged Americans stopped looking for a job.


So unemployment is down because people have stopped looking for jobs...

[phillybri]

10. Why does the headline say: "Unemployment Rate Declines 6.2%"

So the unemployment rate is now 0.2%????

[spinbaby]

15. Because they're idiots, that's why

For the same reason the weatherman persistantly tells us things like it's 20% warmer than it was yesterday.

[THX1138]

16. No it declined by that much

Its still 6.2 (at least)

[Kellanved]

17. Yahoo headline: Jobless Rate Drops but Payrolls Slump

--snip

...
The jobless rate slid to 6.2 percent last month from 6.4 percent, the Labor Department (news - web sites) said. The decline was caused by an exodus of people from the labor force, not by any surge in hiring.
...

--snap
http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=1&u=/nm/20030801/bs_nm/economy_jobs_dc

[robbedvoter]

35. Rate that article

I remember that last time the rate went up, Elaine Chao said: it's a good thing, more people are optimistic, loking for work. I wonder if that theory still works!

[brokensymmetry]

19. As Orwell might say

the 6.4% went down the memory hole!

I'll bet wheat production is up 37% - even though bread can't be had for love nor money. (1984 reference)

[wyldwolf]

14. "...half a million discouraged Americans (have) stopped looking for a job.

The article is very telling...

[demnan]

21. WTF happens to people when they don't look for employment?

"Unless they are actively searching for a job, workers are not counted as unemployed."

I guess they're begging on the streets. Maybe we should count the growing number of street people to see the real "unemployment" figures.

[NewYorkerfromMass]

33. moving back in with friends, relatives, parents, or simply

depending on their spouse for support. There are mostly 2 income families anyway, well, fewer today.

[papau]

20. Employers cut 44,000 jobs from payrolls should be headline.

But better to give the "good" number of 6.2%

[priller]

22. I just heard this stat on the radio as "good news!"

No mention that it was due to people who just gave up looking for work (and how do they know that anyway?). No doubt the Dow will shoot upwards.

[DemocratSinceBirth]

23. The Dow Will Go Down

cuz the "big boys" look beyond the headline numbers

[Orangepeel]

25. I guess everybody's rich uncle died...

:eyes:

Good thing we reduced that pesky estate tax

[MaineDem]

26. Futures are down

There was more bad news than good, I think.

[papau]

30. Rate Declines as Competition for Jobs Recedes = AP Headline

So 500,000 quit looking for jobs that are not there because they are discouraged, and 44,000 jobs leave the payrolls of America, and this is:

GOOD NEWS - Rate Declines as Competition for Jobs Recedes.

Gee must be easier to get a job, eh.

Only folks out of work are Dems that want to live off the government.

The AP headline writer is one sick right wing GOP nut. But there is no media bias in favor of the GOP.

[Danmack]

27. Its really a sad state of affairs when.....

people who have basically said "fook this, there ain't no jobs out there" are not counted as being unemployed.

I kinda fit into that bracket. Not counting a 3 month job making nearly what i was making 2 years ago (laid off again) and 5 months of p/t pizza delivery making squat, I have been UE since August 2001.

After you have sent out thousands of resume, with maybe a response from a handful, its damn hard to keep up the good search.

BUT ITS NOT LIKE WE JUST UP AND QUIT LOOKING FOR WORK.

Not being counted as being UE is almost criminal and nothing but politics.

For many,many people who only hear headlines, this will give them the opinion that things are really getting better.

The only saving grace in the whole thing is that the media comes out pretty quickly to point out that the drop to 6.2 is mostly because a half a million people are not counted as looking for work anymore.

Not that the "headline only" people will ever hear that part and of course that is what chimpy and rove count on. I'm sure we won't see chimpy come out today and brag about this dip in UE numbers.

Just like GDP numbers yesterday, unless you read the small print that said they were just prelim numbers and would be adjusted 2 more times, chimpy and crew will announce anything or rig/adjust anything if they think they will get a boost in the polls or make the stock market stop free falling.

The asshole-in-chief and crew have got to go:mad:

Are you mad enough yet?

[Brian Sweat]

29. I can't wait until some freeper starts crowing about how

unemployment is down. I will really enjoy laughing in his face.


They keep saying that there are signs that the economy is picking up, but all of the number that come our are dismal. Although, they claim that unemployment is down, it is really up about .05%. Consumer confidence is down. Mortgage rate are climbing, so home sales are about to stall. Not good for me, since I work in the mortgage division of a Bank.

[saigon68]

32. MARKET DOWN 91 POINTS AT 10:30 AM EASTERN

Sounds like a rally to me

</sarcasm>

[NewYorkerfromMass]

34. no they won't

http://www.freerepublic.com/focus/f-news/956021/posts

[KayLaw]

36. Elaine Chao

Didn't Elaine Chao say about a month ago that the higher jobless figures were a good thing because they indicated people knew the economy and job market were improving and the numbers reflected the formerly discouraged unemployed looking for jobs once again?
Also, I saw her this morning on CNN saying that many of last month's job losses were due to the season - women whose children were returning to school. That made zero sense to me. Isn't it easier to work when the kids are busy at school? Does she really believe all those people just quit their jobs? I must have misunderstood her but I think she'd paint a smily face on just about anything at this point.

[study_war_no_more]

38. military spending up 44%

Clusterfuckbombs are a great way to make money or a second job. Wonder how hard it is to find work in Canada.