7.8% Unployment

[dlbleak]

get out you trusty calculator and go to the bureau of labor statistics website. even if you don't factor in the under-employed and those tht have quit looking for work , the numbers still come up almost 2 million under what the dems are claiming.

another factor in the uneployment rates going down is the number of people filing for and receiving disability after the 99 weeks is up. that number is up by tens of millions from last year.

 

[TerryMiller]

Yep, much of that 800,000+ growth in those employed is in part time work. So, how many of that large number are also people being hired for the Christmas season, and how will those numbers look after January 1?

Smoke and Mirrors

Well.....

.....maybe just smoke.

 

[redmax51]

Don't be surprised to see them report it below 6% next month.

Late October early November, retailers begin hiring 100's of thousands of temporary holiday workers. This will contribute to the illusion of job recovery. Just in time for the election.

 

[DPI]

Interesting Yahoo! Poll - These usually run on the left side of things.

 

[DPI]

Shocker and surprising development!

US unemployment aid applications jump to 388K

WASHINGTON (AP) -- Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase represents a rebound from the previous week's sharp drop. Both swings were largely due to technical factors.
The four-week average of applications, a less volatile measure, rose slightly to 365,500, the Labor Department said Thursday. That is still a level consistent with modest hiring.
Last week, California reported a large drop in applications, pushing down the overall figure to the lowest since February 2008. This week, it reported a significant increase. The gyrations occurred because it processed applications last week that were delayed from the previous week.
A department spokesman said the seasonally adjusted numbers "are being distorted ... by an issue of timing."
Applications are a proxy for layoffs. When they consistently fall below 375,000, it suggests hiring is healthy enough to lower the unemployment rate.
Several economists simply calculated the average of the two distorted weeks, which is 365,000. That's in line with the recent trend. But it's modestly improved from September, suggesting that hiring could be a bit better this month.
"Though still struggling, the U.S. labor market appears to be making headway, and we should see a modest improvement in October ... payrolls," Sal Guatieri, an economist at BMO Capital Markets, said in an email to clients.
The number of people receiving benefits fell. Just over 5 million people received unemployment aid in the week ending Sept. 29, the latest data available. That was about 40,000 fewer than the previous week.
Some recent reports suggest the economy is picking up. Retail sales grew in September at a healthy clip. And builders started construction on new homes and apartments last month at the fastest pace in more than four years.
Still, the economy is not growing fast enough to generate much hiring. Growth slowed to a tepid annual rate of 1.3 percent in the April-June quarter, down from 2 percent in the previous quarter. Most economists see growth staying at or below 2 percent in the second half of the year.
The unemployment rate fell in September to 7.8 percent, the lowest level since January 2009, the department said earlier this month. It fell because a government survey of households found a huge increase in the number of people who had jobs. A jump in part-time employment accounted for most of the gain.
Employers, meanwhile, added 114,000 jobs in September, according to a separate survey of businesses. Hiring in July and August was also revised much higher.
As a result, the economy gained an average of 146,000 jobs a month in the July-September quarter. That's more than double the monthly pace in the April-June quarter.
Even so, hiring must be stronger to bring relief to the more than 12 million people who are unemployed. Roughly 100,000 new jobs are needed each month just to keep up with the working-age population.

http://finance.yahoo.com/news/us-unemployment-aid-applications-jump-123359965.html

 

[68mustang]

We need engineers. There are openings at several places in Tulsa. It's too bad we hire individuals on work visas when we should be growing our own!

Any entry level positions? I'm looking for an engineering position out of college when I graduate in Dec.

 

[DPI]

Any entry level positions? I'm looking for an engineering position out of college when I graduate in Dec.

What discipline?

 

[68mustang]

Mechanical Engineering Tech from OSU Stillwater.

 

[DPI]

The truth is finally coming out, even NBC is reporting it!



New ADP Count Slashes Job Creation for September
CNBC.com | October 31, 2012 | 12:54 PM EDT
Revisions to the way payroll data firm ADP counts private sector job creation have resulted in a sharp drop in the September employment count.

ADP's new calculations put the monthly job creation at just 88,200, down from the 162,000 the firm originally reported earlier this month.

The firm recently has entered into a partnership with Moody's Analytics that will change the way the private payroll count is calculated.

The new private payroll count now is actually under Labor's September job creation total of 114,000, 104,000 of which came from the private sector. The unemployment rate dropped last month to 7.8 percent, as the government said the total number of new workers swelled by 873,000. (Read More: Consumer Prices Rise on Energy Surge; No Pay Gains)

Economists expect Friday's report to show 125,000 new jobs and the jobless rate to hold steady.

When the Labor Department revealed its September job count, it sparked criticism from some quarters that the numbers were being manipulated for political purposes as the November presidential election drew near.

The soft ADP count could add credence to those who believe the pace of job creation is slower than the government's numbers indicate.

"It's huge, no doubt about it," said Todd Schoenberger, managing principal at the BlackBay Group in New York. "Their changing the methodology tells me that if the number is cut in half with that revision, then the revision we're going to see Friday is going to be a disaster."

Former General Electric [ GE 21.175 +0.065 (+0.31%) ] CEO Jack Welch caused a skirmish when he said in Twitter, "Unbelievable jobs numbers...these Chicago guys will do anything...can't debate so change numbers." (Read More: Jack Welch Defends His Jobs Report Comments (Again))

ADP will announce its October count on Thursday, with the Labor Department to follow on Friday.

ADP usually releases its report on the Wednesday preceding the first Friday of the month, but held off because of damage from Hurricane Sandy. The firm is expected to announce a further revision to the September count along with its October totals. (Read More: Damage From Sandy? What About Potential Economic Boost?)

In announcing the partnership Oct. 24, the two firms said the partnership will help align the private sector job count with the Labor numbers.

At the same time, the new reports will provide a more detailed breakdown of the numbers while expanding the total of businesses that participate.

ADP occasionally has come under criticism for releasing data that is often widely disparate with the government's final count.

http://m.cnbc.com/us_news/49620569

 

[ez bake]

We need engineers. There are openings at several places in Tulsa. It's too bad we hire individuals on work visas when we should be growing our own!

Do you guys train in-house? Serious question - I noticed that a lot of employers are resorting to hiring immigrants or farming work overseas as opposed to offering in-house training (for folks who are perfectly competent, but happened to be trained in a different field).