We added 96,000 jobs, the unemployment rate dropped .2 pt and media spins bad news?

[nanabugg]

Warren is right but the deck is not only stacked against us, it's stacked against Obama also. The trend is in the right direction and with a little bit of help for all that money stashed away waiting for Obama to fail the number could be better. But the RW-super-anti-American bigots don't give a damn. I just wish some super wealthy Saudi would come along and take on a project to rebuild two or three major cities, employ workers at super paying jobs as they do in Dubai and only hire card carrying Dems. (I know that's mean spirited but it sure would be nice).

[CaliforniaPeggy]

1. The media spins bad news because their corporate masters want them to.

These folks are in the 1%, and they want Obama to fail.

Damn them all to hell.

[bigwillq]

2. So is DU.

BWAH!

Spinners.

[dkf]

3. The stock market liked it because it is so bad and underwhelming they think the fed has to act.

But talk to the 368,000 who said "screw it" and gave up. I highly doubt they are jumping up and down in joy.

[russspeakeasy]

4. They don't want to shut off their revenue spigot.

Bad news is the only news that sells.

The headline should have read:

"THIRTY STRAIGHT MONTHS OF JOB GROWTH"

and the election would have been over; no more ad revenue.

[Qutzupalotl]

5. We need job grown of at least 100-120K just to maintain

a particular jobless rate, all else being equal. The unemployment drop, they say, is a result of things like discouraged job workers, people who leave the workforce to go to school (it is fall, you know), and retirements.

Today's jobs number is still better than the last six August numbers, so that's something. My crystal ball says the next two reports will be better, and that will be a big factor in the election.

[bhikkhu]

15. That's not so much the case anymore

though it still gets repeated often. The "boomers" now reaching retirement age are one thing that's different. When you have a big demographic steadily leaving the workforce that naturally reduces the labor participation rate and the total number of jobs needed to maintain it every month. Another is that immigration is lower, and birthrates are lower.

I don't know what the actual number is now, but it may be lower than 100k. I look forward to a stable population and a sustainable economy myself, when constant growth is no longer the expectation!

[RainbowOverTexas]

31. I dont think so

We are already at NEGATIVE growth from births, all of our population growth comes of immigration. The only way to slow or stop the growth would be to put even more limits on immigration.

[SickOfTheOnePct]

6. Yes, 96,000 jobs were added

But that isn't why the unemployment rate fell. It fell because ~400,000 people gave up and quit looking for work. The economy needs between 100,000 - 150,000 jobs added every month just to keep up with new entries to the job market. In July, there were ~140,000 jobs created, so 96,000 is a pretty sharp drop. Not a contraction, but a definite slowing.

That isn't good news.

[ananda]

7. Also, General Motors is creating jobs even now.

They're opening up a tech center here in Austin
because Austinites have the skills they need...
and in three other cities.

This is all due to Obama. Thank you Mr. President!

[RainbowOverTexas]

32. Hmmmm

A chosen few prosper while the rest suffer. Ive heard that story before, no thanks.

[Hell Hath No Fury]

8. It's not spin.

It is NOT good economic news, plain and simple. And, until we elect more left-leaning Democrats who are willing to pass a strong stimulus bill, the news will remain bad.

[SickOfTheOnePct]

9. Wish I could rec this post n/t

[just1voice]

13. Stop telling the truth, you're supposed to wait until they allow you to speak of it

or so I've been told by the blind loyalists from both parties.

[spanone]

10. they conveniently forget that bu$h* was LOSING 800,000 A FUCKING MONTH

[SickOfTheOnePct]

11. No one has forgotten that

There is no question that the economy is in better shape now than it as four years ago, but that doesn't change the fact that the August job numbers are not good.

[tjwash]

17. It was the best August jobs report in seven years.

I'm sorry that you hated the news enough to post this same screed in every single thread about this today.

[SickOfTheOnePct]

19. I hate that 368,000 people gave up looking for work

I hate that our economy created 45,000 few jobs in August than in July.

I'm glad that 96,000 people found work, but the job report is still not good news.

And please provide the link to the DU rule stating that we are confined to posting facts on only one thread per subject. Thanks in advance.

[tammywammy]

12. If the unemployment rate drops because people are leaving the job market - it's not really good news

People giving up looking for work isn't good.

[treestar]

18. So if it drops it is bad news and if it goes DOWN it's bad news?

People who give up don't count. They must have some other way to survive.

If you don't have a job and need one you keep looking!

I'm sick of that stupid theory. So are the homeless increasing then? If they really "gave up" are they dying of starvation or what?

No, maybe it goes down because there are more jobs and there is a recovery.

[SickOfTheOnePct]

22. "People who give up don't count."?

Are you serious?

Do you realize that people whose unemployment benefits run out, even though they still don't have a job, are counted as dropping out of the job market?

Do they not count either?

[treestar]

26. They need to keep looking?

It's that simple. If you can afford to "give up" you didn't need a job to begin with. That is a ridiculous meme. Just admit things are improving when the unemployment rate goes down. Talk about going out of your way to be negative.

So when the unemployment rate goes up that should be good news then , right, since those jobless people who can somehow afford to give up deign to look again?

[SickOfTheOnePct]

28. Sure they can keep looking

And if they had, the unemployment rate would have stayed the same or risen.

The point is, the drop in the unemployment is only a good thing if you completely ignore why it dropped. The hundreds of thousands that gave up or lost their unemployment benefits contributed much more to the drop in the rate than the 96,000 jobs that were created.

[treestar]

29. It's still good if the economy is recovering

There are no jobs to look for without expansion. Thus it is a good thing the unemployment rate drops, as more people who look for jobs got them. Only people who look for jobs are going to get them.

[SickOfTheOnePct]

30. 96000 jobs created

100,000-150,000 jobs need to be created monthly just to keep up.

If there are 100 people in an economy, 90 working and 10 looking for work, that's a 10% unemployment rate.
If next month, 5 people's unemployment insurance runs out, and they are no longer counted, and two jobs are added, your economy is now 97 people, with 5 looking for work, resulting in an unemployment rate of 5.1%.

Sure, your unemployment rate dropped by almost half, but would you really consider that good news?

[treestar]

36. If they are no longer counted just because unemployment runs out

Then I agree, but if they are not longer counted because they allegedly "quit looking" then that's what I'm talking about. Anyway they should count everyone looking - Why assume the person has a job now just because unemployment ran out? That's plain dumb.

New people come in due to getting old enough, graduating, and other people go out due to dying, retiring, all of that is a factor too. So it is not always a disaster when the UE rate goes down - some people like to insist it is always due only to people giving up rather than anyone getting a job.

[SickOfTheOnePct]

39. When unemployment runs out, they are no longer counted

Which means that the unemployment rate goes down, even though the people want jobs but don't have them. And people that want to work but give up looking because they can't find a job also drop out of the overall total, which again, makes the unemployment rate appear lower than it really is.

[tritsofme]

33. This is not entirely accurate.

The status of your unemployment benefits has no effect on whether you are counted as unemployed.

All that matters is that you are "actively looking for work"

[tammywammy]

24. You're right people that drop out don't count

If you have people giving up and thus a smaller workforce then the unemployment rate will go down. It's not going down because people are getting jobs, it's going down because they've given up.

I can tell you that my dad gave up. Laid off, looked, but then just retired. Or it could be a couple where they decide the unemployed spouse will quit looking and just stay home. Or they go back to school and aren't look for a job.

Edited to add: I've given up before. I had lost my retail job in November, but all seasonal retail positions are filled by then. I gave up and moved back home. I was out of the job market for at least six months.

[treestar]

27. There is no reason not to keep looking

And my main complain here is that it's bad news no matter what! If the rate goes down, it's because of these quitters. If it goes up, it's still bad news, when it should be good news then, since it means the quitters are willing to try at least. But no, then it's bad news too. No matter what happens to the rate, it's bad news. To me that's willful negativity.

[tritsofme]

34. If unemployment ticked up next month

because people were rushing back into the labor force, that would be good news for the economy.

[treestar]

35. At least that would be consistent way of looking at it

But you can bet there will be people whining on about how it's gone up and it's a disaster. The same people who greet every down tick as merely due to the mythical discouraged worker - the one who can quit looking for a job and still survive somehow refusing to look but getting us all down with their hopelessness!

[tritsofme]

38. It is not only consistent, it is accurate.

Not a convenient political message, but a good way of judging the health of the labor market.

If people rushed back into the labor force because they perceived a strengthening economy, the increase in U3 unemployment could only be described as positive.

[Egalitarian Thug]

37. This is probably the most unconscionable, impenitent, and short-sighted thing I've read from

you, and that's saying a lot.

[Zoeisright]

14. So much for the "liberal" media.

I am completely disgusted with the M$M.

[SickOfTheOnePct]

16. For telling the truth? n/t

[xchrom]

20. It's not good news.

Rather than 'spin' bad news into 'good' - take the (corporate) bull by the horns and deal with it as it is.

[former9thward]

21. The rate went down because for every job created 4 people left the workforce.

Because they have given up finding work. We now have the lowest labor participation rate for men since 1948. You may wish to spin that as 'good news' but for any sane person looking at the economy it is terrible news. There are many reasons for this but to try and spin it as good news just for political reasons is crap.

[otohara]

23. Citizens United $$$$$ Is Rolling In

I made the mistake of tuning in to ABC News, Jake Tapper was his usual snarky and partisan.
The media can't be trusted even more now in the age of Citizens United

[nadinbrzezinski]

25. Under the hood

People who left the job market.

That is true.

Yet, this is the best jobs number for August, always a slow month, in six years.

It is good in that sense.but the press will not go there, or mention this is a straight month in job creation.