July payroll employment rises (+162,000); unemployment rate drops (7.4%). Lowest since Dec. 2008

[bigtree]

___________________

BLS-Labor Statistics ‏@BLS_gov 2m
July payroll employment increases (+162,000); unemployment rate edges down (7.4%) http://go.usa.gov/vrK #JobsReport #BLSdata

Talking Points Memo ‏@TPM 47s
BREAKING: US employers add 162K jobs, unemployment rate falls to 7.4 percent, lowest since Dec. 2008.

The Associated Press ‏@AP 9m
US consumer spending has best showing in 4 months even as income growth slows: http://apne.ws/16oyz6p -BW


U.S. Bureau of Labor Statistics news release: http://www.bls.gov/news.release/empsit.nr0.htm

[JoePhilly]

1. These numbers are BOGUS ... ACORN cooked the Books!!!

These jobs are all lawn mowing and paper routes!!!!

(I figured I should start this thread out right)

[SidDithers]

5. Don't forget the classic...

"People have stopped looking for work"



Sid

[Hissyspit]

17. ?

Some people do stop looking for work.

"Discouraged Workers" are counted by the Bureau of Labor Statistics, but not included in these numbers.

http://www.bls.gov/news.release/empsit.htm


http://www.npr.org/blogs/money/2013/08/02/208078183/four-reasons-why-millions-of-americans-are-leaving-the-workforce

The unemployment rate only includes people who don't have jobs and are looking for work. A much larger swath of people — about 36 percent of U.S. adults — don't have jobs and aren't looking for work at all. That figure is higher than it's been in decades (and, conversely, the share of adults in the labor force — shown in the graph above — is lower than it's been in decades).

Here are four reasons why so many people are leaving the labor force.

1. They're retiring.

The baby boomers are hitting retirement age. Even if the job market were in good shape, that alone would be enough to drive up the share of adults who aren't looking for work.

2. They're going to college.

College enrollment is up — and many students are having a hard time finding part-time work. A 20-year-old student named Jeannett Llave told me the last job she applied for was working at the American Girl doll store in New York. "I thought I was perfectly fine and capable of taking care of little girls and, like, just giving them a doll," she told me.

She didn't get the job — and she decided to give up looking and focus on her anatomy class. Because it's been more than a month since Llave looked for a job, she's not counted as part of the labor force.

- snip -

4. They just can't find work.

"I think at last count I had sent out like 185 resumes or responded to 185 actual openings," Terri Meier, who used to work in human resources at Sony, told me. "And of that, I've gotten two opportunities where I actually went to a live interview."

Meier has been out of work for three years, and she's what the Labor Department calls "marginally attached" to the labor force. Because she hasn't actively looked for a job in the last four weeks, she's not counted among the unemployed.

But she wants to work, and she's looked for a job in the past year. Some 2.5 million Americans fit this description.

[Safetykitten]

24. "civilian labor force declined from 155,835 to 155,798 or 37K, driven by an increase of people...

Not IN the labor force".

[millennialmax]

2. Already seeing the spin on Twitter: "Well, it's not as good as it looks..."

Because this many people are doing this and this many people are doing that and these folks are working these types of jobs.

Who the hell cares, man... 7.4% is lower than 7.6%. It's the lowest since December 2008. And there's no amount of BS that can change that.

[bigtree]

4. good numbers, considering republicans doing everything they can to block the WH jobs legislation

. . . if anything, it's republican intransigence and obstruction keeping these numbers down. We got numbers calculating the effect of the republican sequester this week which showed a definite drag on the economy.

Of course, we have to exhaust all of the blame we can conjure on President Obama before we even think about holding republicans accountable. yet, with all of the open and deliberate obstruction of the President's initiatives, it should be a foregone conclusion for critics of this report that republicans have been waging a war on our economy from the day this president took office.

[millennialmax]

7. Yep. The American Jobs Act would've had us at 6 by now. eom

[davidpdx]

11. On Twitter, hell on DU

The Fox News talking points are already being repeated.

[cthulu2016]

31. What sort of bozo would think it looks good to begin with?

Not as good as it looks? It looks like crap.

It is a weak report, with downward revisions to the last two months, which were already weak.

[millennialmax]

32. What sort of bozo, besides a FOX News host would dispute 7.6 - 7.4 = +0.2%?

It is disingenuous for anyone to say the economy and job market are not improving under this President.

[spanone]

3. k&r..

[intaglio]

6. Give it an hour or less before the anti-Obama crew chime in.

They've already gone so on another thread about this.

[Botany]

8. where would we be if the republicans had worked w/ the POTUS just a little bit?

[sheshe2]

9. K&R!

[BumRushDaShow]

10. Kick and rec!

[tridim]

12. Sucks to be a Republican or Neo-DU'er. nt

[SidDithers]

13. Neo-DUer! I love that!...

Sid

[geek tragedy]

15. Ditto. nt

[1-Old-Man]

14. Meaning we are right back where we started.

December2008, two weeks before Obama was sworn into Office. Looks like we are right back where we started. The third headline tells a big story. Notice the words "consumer spending has best showing in 4 months even as income growth slows". Let me interpret that for you, it means either that the rich are putting out a little money or that everyone else is once again living on plastic.

[geek tragedy]

16. "back where we started"

sure, it by that you mean someone throws you off a cliff and then you climb back up it after a hard fall, and then you get back to "where you started"

[leftstreet]

33. +1

it means either that the rich are putting out a little money or that everyone else is once again living on plastic.

Yep! Add to that, each day more people are getting enough distance from their bankruptcies to start qualifying for credit again

Back in the bubble saddle again!

[Liberal_Stalwart71]

18. Had to turn Chuck Turd off. Corporate Media = all bad news for Obama! Time to IMPEACH!!

[David Krout]

19. growth was slower than expected

Is thst good?

[bigtree]

20. obviously bad

. . . likely better than republicans expected; they were counting on their sequester to halt growth - not simply keep it below 'expectations'.

[Safetykitten]

21. Part-time world now.

[millennialmax]

22. 7.6 - 7.4 = +0.2

Basic math has a Dem Party bias.

[Safetykitten]

23. More non-propaganda

"So much for the trends of beats: July nonfarm payrolls +162K missing expectations of 185K; June was revised lower to 188K and the unemployment rate dips from 7.5% to 7.4%. The rate dropped because the civilian labor force declined from 155,835 to 155,798 or 37K, driven by an increase of people not in labor force to 89,957 - just shy of the all time high. This also means that the labor force participation rate once again ticked down to 63.4% from 63.5%. What is worse however is that the change in average hourly earnings dropped -0.1% on expectations of a 0.2% increase and down from the 0.4% increase last month. Those part-time jobs are finally starting to bite."

ZH

[Safetykitten]

25. More ugly "facts"

"One of the overlooked components of today's NFP report is that in July the one industry that posted a clear decline in workers was none other than Construction, the sector which is expected to carry the recovery entirely on its shoulders once Bernanke tapers and ultimately goes away, which saw a decline of 6,000 workers: the largest job loss by industry in the past month. Perhaps there isn't quite as much demand as some would propagandize? But most notably, and disturbingly, is that the industry with the most job gains in July was also the second lowest paying one: retail, which saw an addition of 47,000 jobs: far and away the biggest winner in the past month. The worst paying industry - temp jobs - rose by 8K in July following a revised 16K increase in June. And the reason for the swing in July: the plunge in another low-quality job group: Leisure and Hospitality, which increased by only 23K in July following 57K additions in June."

[millennialmax]

27. It doesn't take long paragraphs to explain basic math: 7.6% - 7.4% = +0.2% eom

[Safetykitten]

29. So why don't you go out and get one of those fabulous part-time jobs for the cause?

[millennialmax]

30. I'm glad that the economy and job market are improving.

And that all improvements are because of liberal economic policies.

Now we need to take the House in 2014 and expedite it.

[progressoid]

35. If by improving you mean

reshaping the job market for more lower paying jobs, then yes, it's improving.

And improving the income of the ruling classes. Not so much for us working stiffs.

[Safetykitten]

26. Hey, we can all work in that last category.

[progressoid]

34. Doncha know, minimum wage retail is just a stepping stone to a 6 figure upper management job!

[Safetykitten]

28. Our retail, hospitality part-time future...I suppose someone will have to be a customer.

Maybe one of our full-time, life is good, what me worry Democratic pals.