Msg. 10587 of 54959 (This msg. is a reply to
10586 by
Cactus Flower)
Jump:
These normal monthly revisions turned up significantly stronger growth in the number of jobs created in those months. July added 40,000 more jobs than previously reported, and August 46,000. I suspect September will follow the same pattern.
"The truly upbeat part came in the data revisions. As it turns out, those lackluster months of July and August were better than we thought. The agency now says that the U.S. economy added 181,000 jobs in July, rather than 141,000. And it says that the economy added 142,000 jobs in August, rather than a mere 96,000 as initially reported. To be clear, this is still a middling recovery. At this pace, it will take more than a decade to return to full employment. But at least the economy wasn’t slowing down dramatically over the summer, as originally reported." http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/10/05/september-jobs-report-why-the-drop-to-7-8-unemployment-is-genuinely-good-news/?wprss=rss_ezra-klein
The US is on the right track, although it would be nice if things were moving quicker. Huzzah.
Don't be a grinch. Enjoy the good news. Surely everyone is happy that jobs are being created a wee bit faster than we knew.
"Payrolls grew by 114,000 last month and the unemployment rate ticked down significantly to 7.8 percent, according to today's jobs report from the Bureau of Labor Statistics. That's the lowest unemployment rate since January of 2009. Moreover, unlike last month's report, September's decline in the unemployment rate was due to more job seekers finding work, not giving up and leaving the labor market.
Both July and August's jobs numbers were revised up significantly such that in the third quarter of the year, payrolls grew by 146,000 per month on average, a notable acceleration over the second quarter's growth pace of only 67,000 jobs per month.*
Some Republicans like Jack Welch (great name for a Republican) are already saying the books are cooked! Funny. I guess they want things to be bad in real life so their guy looks good for the election.
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