96K Jobs Created in September; Unemployment at 5.4%

[tritsofme]

As per CNBC, under estimates.

[Renew Deal]

1. That's 54K below expectations IIRC

[Tandalayo_Scheisskopf]

3. And even if you added the 54K...

That number would still be the shits.

[Tandalayo_Scheisskopf]

2. Let's remember one thing:

That 5.4% is the U3 unemployment figure. New applications for unemployment insurance. It is NOT the real unemployment figure, the U6, which is as much as 9.8%. Also the U3 uses flawed data compilation techniques, most importantly the "kitchen table" method.

[liberalmuse]

5. No kidding?

I was going to say that 5.4% isn't all that bad, though Clinton's 4% was better. I remember when unemployment was 8%, but if it is as you say, and unemployment really is at 9.8%, do we get this figure by the same criteria they used to determine unemployment in the late '70's and '80's?

What piss poor job gains. They probably inflated those, too.

[RoyalWickedness]

6. Unemployment rate in Michigan

where I live, is 8%. And at least 150K jobs are needed per month just to keep up with population growth. So, 96K is actually a deficit.

[rjbny62]

7. real unemployment figure

Can anyone explain why the U3 figure is used at all? It doesn't reflect reality in the least.

[tritsofme]

8. U6 went down to 9.4%

Which is the same as September 1996, so its not really a line of argument that will take you very far.

[Anarcho-Socialist]

4. That's very bad news for the economy

The economy needs to add at least 150,000 jobs per month just to keep pace with population growth.

[nostalgicaboutmyfutr]

9. Is my understanding correct

that when some is booted off of unemployment (like when George did not extend benefits) that those too are not counted in the figure?