Jobless Rate Is Lowest Since '01 --WaPo

[Demeter]

http://www.washingtonpost.com/wp-dyn/content/article/2006/11/03/AR2006110300370.html?referrer=email


Jobless Rate Is Lowest Since '01
Unemployment Declines to 4.4%, Fans Inflation Fears

By Nell Henderson
Washington Post Staff Writer
Saturday, November 4, 2006; A01



Unemployment fell last month to the lowest level in more than five years, to 4.4 percent -- a drum-tight labor market that shows the economy remains fundamentally strong despite weak spots such as housing and manufacturing.

The Labor Department said employers added 92,000 jobs in October, a modest number. But the department revised earlier estimates to show more payroll growth in August and September, for an average of 156,000 new jobs in each of the past three months. That was enough to drive unemployment down from 4.6 percent in September...Higher interest rates have slowed economic growth. However, much of the bad news has come from just two sectors: housing and automobile manufacturing. The unemployment report and other data suggest that the problems there haven't spilled over to the broader economy.

Considering that some workers lack the education and skills to be readily employable, economists regard any unemployment rate below 5 percent as striking. "We are beyond full employment," said Mark Zandi, chief economist at Moody's Economy.com Inc. "Both housing and autos are laying off in a significant way," Zandi said. "The two soft spots in the economy are growing softer, but the problems in housing have not bled out into the rest of the job market, at least not yet."

Builders, manufacturers and retailers cut thousands of jobs last month, but those losses were more than offset by hiring in education, health care, professional and business services, government and other sectors. The job market is tightening so much, some worry that it will fan inflation, as employers bid up wages to attract workers. Yesterday's report showed strong wage growth. A report earlier this week showed that productivity growth, which is necessary if companies are to raise pay without boosting prices, is stalling.

NICE BRIDGE IN BROOKLYN FOR SALE CHEAP....

[Alacrat]

1. Duh?

Santa need his $5.15 helpers for the holidays, wait until Jan.

[fidgeting wildly]

22. ding ding ding! we have a winner!

Let's look at these numbers again in January when people like me, who are trying to cope with low-wage temporary holiday jobs, become unemployed again.

[lostnotforgotten]

2. Data Based On Household Survey Not Establishment Survey

And most importantly, what about U6?

If you don't know what that is, look up unemployment levels U1-U6.

[niceypoo]

18. In 2003 they stopped using actual employment statistics...

...and started using "a survey of 60,000 households" because the survey always showed several points lower than the employment stats. Had Clinton used the survey his numbers would have been in the negative range.

[lostnotforgotten]

25. Average Net New Jobs To Keep Pace With Population Growth

January 2001 through January 2006

9,150,000 net new jobs

Actual Private Sector Net New Jobs - January 2001 through January 2006

1,054,000 jobs

Actual Government Net New Jobs - January 2001 through January 2006

2,093,000 jobs

Total Net New Jobs - January 2001 through January 2006

3,147,000 jobs

Jobs Deficit - January 2001 through January 2006

6,003,000 jobs

Now what don't you understand about the bogus employment numbers?

[Lindacooks]

30. Because they don't include the people who have been unemployed

over six months.

And the 'household survey' is notoriously inaccurate.

And what about those jobs? The majority are low paying with little or no benefits.

[Thor_MN]

26. Gee, what happens to the people who lose phone service

because they lost their job? Suddenly not part of the equation.

[cornermouse]

3. Bush specializes in convenient and well timed manipulations

of the truth. In other words, its a lie.

[rosesaylavee]

4. Would like to see

statistics on how many of those jobs are held by people working one or more to make ends meet? Can't live on just one shift per day at Micky Ds, you know.

[fasttense]

5. Does anyone really believe this fake government's numbers on the unemployed?

These are people who made organized concerted efforts to steal federal elections at least for the last six years, and we are going to TRUST them when they give us the unemployment figures?

[Demeter]

12. No , But I Thought It a Useful Thing To Bring To DU Attention

There hasn't been a truthful govt. number since 1999.

[against all enemies]

24. It's good to post so the truth can come out.

i always come to DU to see the Bush facts debunked.

[INdemo]

6. Of course we know these number are false but

there is no doubt that as soon as the Democrats win the Majority the real numbers will appear and we know the rest of the story..

[Robbien]

15. I wouldn't think so

Democrats wouldn't want to be blamed for any increase in the unemployment number so they will just continue reporting the fake numbers.

[RUMMYisFROSTED]

7. Iow, 9.4-10.4

ETA: I've always figured Unenjoyment being underfigured by 5% but I've had other respected DU'ers tell me the number is 6%.

[Saturday]

8. I personally know 4 people.....

whose unemployment insurance in their state has run out for them. They are still unemployed and are no longer considered a "number" for unemployment purposes. These numbers are bogus.

[chelsea0011]

9. This IS good news. I know ,many families with both couples

having to work multiple jobs to pay the bills.:sarcasm:

[maddiejoan]

10. Christmas ain't coming this year.

http://www.boomantribune.com/story/2006/2/7/10217/80356

[Demeter]

13. Very Useful Link! Thanks!

[ovidsen]

14. Excellent. Proof that the "official" numbers are bogus.

As if we didn't already know that.

BTW, here's a story that illustrates the "full employment" lie quite nicely:

A Job Prospect Lures, Then Frustrates, Thousands

The call for job applications seemed routine; certainly nobody at corporate headquarters gave it much thought. A new candy store that would be opening in Times Square needed workers. Starting pay was $10.75 an hour.

But by midmorning yesterday, a huge, swelling, discontented crowd of job seekers was milling around the sidewalks of Midtown Manhattan, not far from Macy’s in Herald Square, filling the air with curses.

The crowd put a human face on jobless statistics at a time when the city’s unemployment rate, 4.5 percent in September, was the lowest since 1988.

http://www.nytimes.com/2006/11/04/nyregion/04jobs.html?_r=1&ref=nyregion&oref=slogin

Pathetic, isn't it?

[Hugin]

19. The 2006 version of a 'bread line'?

*tsk*

[liberal N proud]

11. Bull shit

This is a trumped up report just in time for the elections so they can all make false claims.

[progressivebydesign]

16. ANd it will be adjusted AFTER the election! They always do that!

it's total BS. A month or so after the election, in small print, will be the "adjusted" numbers.

[AnneD]

17. Damn......

"Honey, where did you put my hip wader?"

Folks, I don't need to quote numbers here, but they have not replaced the jobs that have been lost to overseas and our grads entering the job market are having such an awful time. And of course, there are those poor souls that have no more unemployment insurance OR a job- those folks don't even count. So what do you believe...his lips or your lieing wallet.

[Roland99]

20. Why the latest Unemployment Rate numbers are BS and MEANINGLESS (w/pictures)

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=2571776&mesg_id=2571776

[leesa]

21. I suppose, if we all have 2 or 3 jobs just to survive...

[Vinca]

23. Want fries with that?? nt

[kineneb]

28. no thank you

but I just finished baking the 10 lbs of frozen chicken leg parts I received from the free food give-away. I will now freeze the individual pieces so we have easy-to-prepare food for the next several weeks.

"Unemployed" caregiver, working off the books, living on Hubby's SSDI: $14K/yr.
Ask me about living and fighting with the Social Service System. Ugh.

[Eurobabe]

27. Hey, what's that smell?

[peabody]

29. Intuitively, these number even sound bogus

When unemployment was low during the Clinton years, my phone was ringing off the hook from calls from recruiters; plus, the job ads in the San Jose Mercury News as well as in trade journals were many, many times thicker than what they are today. If the job market is really this good, then why isn't it being reflected in the ads and by calls from recruiters? Granted I'm talking about hi tech and employment might not be as forth coming as it was in the 1990's, still you would think that it would have the same impact on job ads as in the 1990's. Plus, although it might be good news that other sectors are hiring (if it were really true) the person just laid off from car manufacturing or carpentry can't just step into a teaching, business, or health care job. The retraining takes time and money. Just where is that going to come from for the newly unemployed?

[tom_paine]

31. 4.4%?!? Lower that the height of the Clinton era? I think not.

God damn, are numbers coming from the Busheviks so fucking Sovietized it makes me puking sick?

How can people have the appropriate information for our long range life-planning if we don't know the true economic situtation.

I have no doubt the unemployment rate is 4.4%...for those making $500,000/year and more.

God damn their lying souls to hell, lowest circle.

[TheWatcher]

32. Unadulterated Bullshit At It's Highest Level in Human History, Government Statistics Show.

[sarcasmo]

33. All Lies, come visit Michigan.