Unemployment Rate In U.S. Falls To 5.9 Percent
Good news for America means bad news for Republicans. The unemployment rate fell to 5.9 percent. 248,000 jobs were added in September, according to the Bureau of Labor statistics.
The strong report — the last one before the midterm elections — was likely to buoy the outlook of economists who had worried the post-recession recovery was being sidetracked. Those fears were prompted by the government‘s earlier report on Sept. 5 that fewer jobs were added in August than in any month so far this year.
The pace of job creation in September, which was above many economists’ expectations, signified a return to the 200,000 level, a mark that had been surpassed each month since midwinter until the August lull.
But even the August numbers weren’t as bad as originally thought. The government made revisions that showed 180,000 jobs were added in August. Originally it said just 142,000 workers were added to payrolls.
Over the past 3 months, payrolls growth has averaged +223k. A good sign, suggesting a mild uptick in the rate of growth over recent months.
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Friday’s jobs report was evidence that the end of summer’s poor showing was merely a blip. Still, the nation’s output is far from lifting off the way many economists in the immediate aftermath of the recession predicted would be the case by now.Instead, it is taking baby steps, slowly inching forward at a rate to which many economists and investors have become accustomed. With housing prices increasing and business investment showing strength, many analysts are optimistic that in the next six months the economy will get even stronger, as incremental as that may be.
“All the conditions for a strong recovery are in place,” said Robert Shapiro, co-founder and chairman of Sonecon, a financial consulting firm, in an interview before the report was released.
But..but…but the Obomola virus is a plot to infect the masses, thus driving them to Obamacare plans. Or something like that will pop up in right wing news media sources in order to deflect from a healing economy.
Copyright 2014 Liberaland
By: Anomaly100
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majii October 3rd, 2014 at 20:21
“We’re creating jobs like crazy in GA,” says my Gov. Nathan Deal (R) in the campaign ads he’s running, the same Nathan Deal who criticized everything Pres. Obama did when he was in Congress. The dude’s running for reelection next month, and GA has the highest unemployment rate in the nation. Seems to me like one of these two politicians had a better understanding of economics, and it was NOT the ethically-challenged, lying, Nathan Deal. Karma is a b*tch. Deal never passed up an opportunity to try to make the president look bad, and the sh*t back-fired on him, BIG TIME. When he ran for governor in 2010, he didn’t run on his record, he ran against Barack Obama, and millions of Georgians fell for the BS he was peddling, never thinking to ask whether he was capable of good governance.
Jason Carter is on him like fleas on a stray dog, and Deal is running all over the state telling one lie after another to distract us from his failures, economic and otherwise. The RNC and Republican Governors’ Association have sent others here to help him. I’m hoping that this good economic news will make him look worse than he already does. He and his RW majority in our state legislature have spent most of their time over the last six years criticizing President Obama, handing huge subsidies out to Big Business, and neglecting our concerns, and it has come back to bite them in their asses, and their lying, pro-corporate, “ignore the majority of GA citizens” asses deserve every bit of it.
majii October 3rd, 2014 at 20:21
“We’re creating jobs like crazy in GA,” says my Gov. Nathan Deal (R) in the campaign ads he’s running, the same Nathan Deal who criticized everything Pres. Obama did when he was in Congress. The dude’s running for reelection next month, and GA has the highest unemployment rate in the nation. Seems to me like one of these two politicians had a better understanding of economics, and it was NOT the ethically-challenged, lying, Nathan Deal. Karma is a b*tch. Deal never passed up an opportunity to try to make the president look bad, and the sh*t back-fired on him, BIG TIME. When he ran for governor in 2010, he didn’t run on his record, he ran against Barack Obama, and millions of Georgians fell for the BS he was peddling, never thinking to ask whether he was capable of good governance.
Jason Carter is on him like fleas on a stray dog, and Deal is running all over the state telling one lie after another to distract us from his failures, economic and otherwise. The RNC and Republican Governors’ Association have sent others here to help him. I’m hoping that this good economic news will make him look worse than he already does. He and his RW majority in our state legislature have spent most of their time over the last six years criticizing President Obama, handing huge subsidies out to Big Business, and neglecting our concerns, and it has come back to bite them in their asses, and their lying, pro-corporate, “ignore the majority of GA citizens” asses deserve every bit of it.
Skydog2 October 4th, 2014 at 04:40
This is good news. Now if Obama can only get more people to drop out of the labor force he can get the unemployment rate even lower.
forpeace October 4th, 2014 at 11:24
“Now if Obama can only get more people to drop out of the labor force he can get the unemployment rate even lower.”
—–
Do you even bother to read your own comment either before, or after posting?
Do you understand how silly your comment is?
Skydog2 October 4th, 2014 at 13:38
The labor force participation rate is now at the lowest rate since 1978.
OldLefty October 4th, 2014 at 14:00
Much of that is because of the baby boomers retiring.
The Federal Reserve Bank of Chicago in 2012 concluded that just over half of the post-1999 decline in the participation rate comes from the retirement of the baby boomers.
Critically, the research showed that the problem is only going to get worse in the rest of the decade, with retirements accounting for two-thirds of the decline of participation rate by 2020. In other words, the rate will keep declining, no matter how well the economy does.
OldLefty October 4th, 2014 at 14:04
Actually, if Obama could only get those oldsters to stop retiring and keep working till they drop dead, we could keep the abor force participation rate up, and more young people living in their parent’s basements.
Skydog2 October 4th, 2014 at 04:40
This is good news. Now if Obama can only get more people to drop out of the labor force he can get the unemployment rate even lower.
forpeace October 4th, 2014 at 11:24
“Now if Obama can only get more people to drop out of the labor force he can get the unemployment rate even lower.”
—–
Do you even bother to read your own comment either before, or after posting?
Do you understand how silly your comment is?
Skydog2 October 4th, 2014 at 13:38
The labor force participation rate is now at the lowest rate since 1978.
OldLefty October 4th, 2014 at 14:00
Much of that is because of the baby boomers retiring.
The Federal Reserve Bank of Chicago in 2012 concluded that just over half of the post-1999 decline in the participation rate comes from the retirement of the baby boomers.
Critically, the research showed that the problem is only going to get worse in the rest of the decade, with retirements accounting for two-thirds of the decline of participation rate by 2020. In other words, the rate will keep declining, no matter how well the economy does.
OldLefty October 4th, 2014 at 14:04
Actually, if Obama could only get those oldsters to stop retiring and keep working till they drop dead, we could keep the abor force participation rate up, and more young people living in their parent’s basements.
forpeace October 4th, 2014 at 11:28
Economy could have been much better if it wasn’t for certain people who have been doing everything they have possibly could to stop improving the economy and creating more jobs since January 20, 2009.
forpeace October 4th, 2014 at 11:28
Economy could have been much better if it wasn’t for certain people who have been doing everything they have possibly could to stop improving the economy and creating more jobs since January 20, 2009.
phil box October 6th, 2014 at 18:09
while the unemployment rate my be 5.9 the number of unemployed is far higher than 5.9 % of the work force/population.
the unemployment rate is those actually drawing unemployment benefits, those that have exhausted their “benefits” are no longer counted as unemployed.
so the number seems low the number is much higher. a government trick to make you thing everything is humkiedoorie.
dumb does not have to be forever unless you want to be dumb forever.dumb people become slaves at some point.
what’s it going to be slave?
phil box October 6th, 2014 at 18:09
while the unemployment rate my be 5.9 the number of unemployed is far higher than 5.9 % of the work force/population.
the unemployment rate is those actually drawing unemployment benefits, those that have exhausted their “benefits” are no longer counted as unemployed.
so the number seems low the number is much higher. a government trick to make you thing everything is humkiedoorie.
dumb does not have to be forever unless you want to be dumb forever.dumb people become slaves at some point.
what’s it going to be slave?
Demogorgon9 November 1st, 2014 at 03:42
Pinocchio could tell more believable lies.
Demogorgon9 November 1st, 2014 at 03:42
Pinocchio could tell more believable lies.