Big drop in unemployment rate for blacks (The BLS big lie, black unemployment drops 2.2% in 1 month)
Posted by admin / Under Jobless Recovery
The unemployment rate for blacks fell more than 2 percentage points last month to its lowest level since March 2009. The drop puzzled economists, who cautioned that it's too early to say that a job market recovery for blacks is underway. The rate for African-Americans didn't budge at all in 2011, ending the year at 15.8%. The overall unemployment rate fell nearly a percentage point last year. But even at 13.6% for January, the unemployment rate for blacks is still far higher than the rate for other racial and ethnic groups, as well as the nation as a whole. The...
Published on Monday 6th of February 2012 05:00:48 AM
Jobless rate drops to lowest in almost 3 years
Posted by admin / Under Jobless Recovery
The U.S. economy produced another solid month of job gains in January, offering a hopeful sign for hiring in the year ahead. Employers added a net 243,000 jobs last month, the Labor Department reported Friday. That’s higher than December, when employers added a net 200,000 jobs, and it marked the seventh straight month in which at least 100,000 jobs were created. That hasn't happened since 2005. The nation’s unemployment rate fell to 8.3 percent in January from 8.5 percent in the prior month. The unemployment rate has fallen for the past five months and is now at its lowest level...
Published on Monday 6th of February 2012 05:00:48 AM
January U.S. jobs rise 243,000; jobless rate 8.3% (are better times ahead?)
Posted by admin / Under Jobless Recovery
<p>The U.S. economy gained 243,000 jobs in January and the unemployment rate slipped to 8.3%, the Labor Department said Friday. Economists surveyed by MarketWatch had forecast the U.S. would add 121,000 jobs last month, with a jobless rate of 8.5%. The private sector boosted payrolls by 257,000, led by large increases in manufacturing, professional services, leisure and hospitality and health care.</p>
Published on Monday 6th of February 2012 05:00:48 AM
Job news = good news? Not exactly
Posted by admin / Under Jobless Recovery
The Register is reporting this morning that private employers added 170,000 jobs in January. So, isn’t that good news? Well, probably for those 170,000 people, whoever they are. But economists tell us that, give or take, from 125,000 to 200,000 enter the job market monthly. That means . . .
Published on Monday 6th of February 2012 05:00:48 AM
Obama Grasps At Employment Straws
Posted by admin / Under Jobless Recovery
Supporters of President Obama should mail some straw to the White House. That way, if Obama wants to grasp at straws, he'll have something to use other than last Friday's Bureau of Labor Statistics (BLS) Employment Situation report. This report, which Obama bragged about as representing "steady progress", was actually terrible. The media tends to focus on the BLS "Establishment Survey", which produces the "Payroll Employment" numbers. This report showed an increase of 200,000 jobs from November to December. However, the Establishment Survey has become more and more skewed by questionable seasonal adjustments, and by the BLS's "Birth-Death Model", which...
Published on Monday 6th of February 2012 05:00:48 AM
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