OldSchool
Loc: Moving to the Red State of Utah soon!
On the surface, the August job numbers look solid: a 169,000 gain in jobs, close to expectations, and a drop in the unemployment rate to 7.3%. But the details paint a darker picture that should raise concerns about the consumer outlook in the second half. The July jobs increase was revised much lower: 104,000 vs 162,000. And the unemployment rate fell mainly because about 300,000 adults dropped out of the labor force. The August report changes the view of the U.S. labor markets. Businesses are still reluctant to hire new workers at a pace that would support faster consumer spending. And without stronger consumer spending, it is unlikely gross domestic product growth will rev up in the second half.
http://townhall.com/tipsheet/guybenson/2013/09/10/analysis-augusts-unemployment-report-was-even-uglier-than-it-seemed-n1695554
As you said revised. They never take into account people who have just given up ever though the are unemployed, it's as though some how thru magic your not here. Unemployment is around 15-16% if you drop the magic numbers out.
OldSchool wrote:
On the surface, the August job numbers look solid: a 169,000 gain in jobs, close to expectations, and a drop in the unemployment rate to 7.3%. But the details paint a darker picture that should raise concerns about the consumer outlook in the second half. The July jobs increase was revised much lower: 104,000 vs 162,000. And the unemployment rate fell mainly because about 300,000 adults dropped out of the labor force. The August report changes the view of the U.S. labor markets. Businesses are still reluctant to hire new workers at a pace that would support faster consumer spending. And without stronger consumer spending, it is unlikely gross domestic product growth will rev up in the second half.
http://townhall.com/tipsheet/guybenson/2013/09/10/analysis-augusts-unemployment-report-was-even-uglier-than-it-seemed-n1695554On the surface, the August job numbers look solid:... (
show quote)
If you want to reply, then
register here. Registration is free and your account is created instantly, so you can post right away.