Economy Creates 163,000 New Jobs but Rate Rises to 8.3%

Economy Creates 163,000 New Jobs but Rate Rises to 8.3%

Aug 3, 2012 -- CNBC story

Unemployment is up to 8.3% from 8.2%.

The "Real" rate (U6) is at 15%.

The U.S. economy followed up a weak second quarter by creating more jobs than expected with 163,000 new positions added in July, but the unemployment rate rose to 8.3 percent.

Markets reacted positively to the announcement, with the stock market surging at the open and safe-haven bond prices plunging. Economists had been expecting 100,000 new jobs.

As the country struggles to gain growth traction, the unemployment rate held above 8 percent for the 41st consecutive month, according to the latest report from the Bureau of Labor Statistics...........[continues]
Economy Creates 163,000 New Jobs but Rate Rises to 8.3%

Detailed BLS Report:
BLS Report



Different side of the mirror

(CNSNews.com) - There were 195,000 fewer people employed in the United States in July than in June, according to the Bureau of Labor Statistics, as the national unemployment rate ticked up from 8.2 percent to 8.3 percent.

Meanwhile, 150,000 people simply dropped out of the labor force during the month and did not seek to find a job.

In June, according to BLS, there had been 142,415,000 people employed in the United States. In July, that dropped to 142,220,000--a decline of 195,000........

195,000 Fewer Americans Had Jobs in July; 150,000 Dropped Out of Labor Force

What can The President do ?

More votes down the drain ?

reply to post by xuenchen


Hope and change my cotton tail!

I wonder how they'll spin this?

reply to post by beezzer


That Obama needs 4 more years, to "change" unemployment's, fictitious results. We all know the real unemployment rate, is higher..........

I don't get how some people still think the US economy is in a state of progression? All I've seen is a steady fall and a few band aids to keep the investors from getting woozy.

The US economy is a sinking ship and figures like this back that up.

S+F

Oh my

Updated The two-part nature of the monthly jobs report often provides political parties an opportunity to cherry-pick their favorite parts — and the release on Friday of the July numbers was no exception.

Democrats moved quickly to promote the surprisingly strong jobs growth for the month, while Republicans seized on a small uptick in the overall unemployment rate as a further indictment of President Obama’s economic policies.

Austan Goolsbee, a former chairman of Mr. Obama’s Council of Economic Advisers, summed up the Democratic response shortly after the report was released, calling the addition of 163,000 jobs in July “a solid, encouraging number.”

And, in a statement, the White House stressed that “it is important not to read too much into any one monthly report,” but concluded that Friday’s report “provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression.”

The statement, from Alan B. Krueger, chairman of the Council of Economic Advisers, went out of its way to note the assessment from John Galvin, the commissioner of the Bureau of Labor Statistics, that the unemployment rate was “essentially unchanged, rising from “from 8.217% in June to 8.254% in July.”

Representative Nancy Pelosi, Democrat of California and the House minority leader, quickly reacted to the figures, writing on Twitter that “today’s jobs report is small step in the right direction. But more needs to be done.”

thecaucus.blogs.nytimes.com...

So this is good news. All you conservatives just STHU!

THIS IS GOOD NEWS!!

THIS IS GOOD NEWS!!!

"Provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression.”
...

Originally posted by TechUnique
"Provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression.”
...

Nonononononono!

More people out of work is a step in the right direction, a positive change to our economy.

Just ask the democrats.

Why, at the rate we're going, when we hit 9% (or 20% actual) unemployment, Obama will win in a landslide!!!

reply to post by xuenchen


xuenchen, breaking new

You're wrong.

The White House is really getting specific when it comes to the unemployment rate.

Rather than 8.3% -- the rounded-up figure -- Obama economic adviser Alan B. Krueger writes on the White House website that the real jobless rate is 8.254%.

content.usatoday.com...

Let Romney win. Let Obama win. Let this country go to the crows.

We are so inebriated with hate that its too late to save us.

This thread only proves it.

Originally posted by beezzer
reply to post by xuenchen

 

xuenchen, breaking new

You're wrong.

The White House is really getting specific when it comes to the unemployment rate.

Rather than 8.3% -- the rounded-up figure -- Obama economic adviser Alan B. Krueger writes on the White House website that the real jobless rate is 8.254%.

content.usatoday.com...

I was just reading that 3 decimal places just shows how desperate they are.

Originally posted by beezzer
reply to post by xuenchen

 

xuenchen, breaking new

You're wrong.

The White House is really getting specific when it comes to the unemployment rate.

Rather than 8.3% -- the rounded-up figure -- Obama economic adviser Alan B. Krueger writes on the White House website that the real jobless rate is 8.254%.

content.usatoday.com...

Aw jeez !!!

It's too late to edit the OP now

Thanks for the correction anyway

Nearly 3,000 apply for about 50 Providence firefighter jobs. Things don't look too good in Rhode Island. Where are all these new jobs anyway? And now we will have thousands of kids of illegals getting jobs thanks to Obama. So...there arn't enough jobs for everyone.

news.providencejournal.com...

Originally posted by nuclear12346
Let Romney win. Let Obama win. Let this country go to the crows.

We are so inebriated with hate that its too late to save us.

This thread only proves it.

Where do you see hate?
I only see people pointing out statistics and their obvious outcome. I don't see any hate.

Perhaps you should realize that not everyone thinks like yourself, meaning it's not hatred when people disagree with you.

Originally posted by beezzer
reply to post by xuenchen

 

xuenchen, breaking new

You're wrong.

The White House is really getting specific when it comes to the unemployment rate.

Rather than 8.3% -- the rounded-up figure -- Obama economic adviser Alan B. Krueger writes on the White House website that the real jobless rate is 8.254%.

content.usatoday.com...

Oh good. I feel so much better now.

That is pathetic. Have you ever seen the White House do that before?

Like it or not - the unemployment rate has gone UP with 3 months to go before the election.

reply to post by Eurisko2012


Don't forget sequestration, and the millions who are getting fired with the budget cuts to defense.

but they will manipulate that as well the same people who came up with "saved or created" when it comes to jobs.

reply to post by neo96


Cloward–Piven is alive and well.

reply to post by sonnny1


Agreed

www.federaltimes.com...|newswell|text|IT|p

Because where will all those people end up and those who make a living off them, and the people who make their livings off them etc.

Originally posted by neo96
reply to post by Eurisko2012

 

Don't forget sequestration, and the millions who are getting fired with the budget cuts to defense.

but they will manipulate that as well the same people who came up with "saved or created" when it comes to jobs.

The Lockheed Martin CEO will be sending out those 100,000+ pink slip notifications.

It will probably be November 5, 2012. - Monday -

or November 2, 2012 - Friday -

The Department of Defense has a financial crisis on its hands and Obama is AWOL !

reply to post by xuenchen

The "Real" rate (U6) is at 15%.

do you think it is that low. I have done the simple math on other threads here on ATS I always come out 1/2 of the working class has been laid off or retired since 2006.
no yoke!!!
catch my pun?
yet the legal and illegal immigrants flood the jobs market....maybe this is the source of the new jobs numbers

reply to post by rebellender


Id say like 20%.......

seriously.