Payroll report "bad for Bush"...up only 96,000 jobs..expecting +150,000

[cthrumatrix]

U.S. Sept. nonfarm payrolls up disappointing 96,000 By Rex Nutting

WASHINGTON (CBS.MW) - The U.S. economy added a disappointing 96,000 jobs in September, the Labor Department estimated Friday. The unemployment rate was steady at 5.4 percent. Economists were expecting payrolls to grow by about 138,000 in September and for the unemployment rate to remain at 5.4 percent. Gains in nonfarm payrolls in July and August were revised down by a total of 4,000. Average hourly earnings increased 3 cents, or 0.2 percent, to $15.78. The average workweek was steady at 33.8 hours.

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?guid={8C70BE43-4945-471D-BF58-18F41752B468}&siteid=mktw

The repugs will be putting lipstick on this pig.

larry kudlow on CNBC looks like he wants to jump off a cliff

[cthrumatrix]

1. you need 150,000 just to keep up w/ new people coming into workforce

PLUS...they downwardly revised last month job gain !

[bhunt70]

2. is this the last one before the election?

[cthrumatrix]

3. yes...this WAS the big one (bush avg 83,000 jobs/mo for the last yr)

this is about 1/2 of what the economy needs just to keep up with "fresh faces" coming into the workforce....like college graduates.

[stewert]

4. And..........

And august was also revised down to 130,000 from 144,000, so the jobs number was even lower than they reported for august too.

[cthrumatrix]

5. CNBC and CNN are "spinning like a top" for GE and Time Warner this am.

[papau]

6. GOP's favorite jobs report, the household survey, shows 585000 jobs lost

Household Jobs show disaster-labor force drops 1 million, job loss of 585K

The GOP's favorite DOL jobs number, the Household survey number, shows bigger Job disaster than shown in the anemic 96,000 jobs gain in the payroll survey jobs number. The Household Survey reports 201,000 lost jobs in September since 139,681,000 were "seasonal adjusted" employed in Aug less 139,480,000 of Seasonal adjusted folks Employed in Sept., and that is a drop of 201,000 jobs. If you prefer numbers that are not seasonally adjusted, then 140,226,000 less 139,641,000, or 585,000 jobs were lost in Sept.

And that Steady 5.4% Unemployment rate is based on folks no longer being in the labor pool and therefore not counted as unemployed. The seasonal adjusted change is from 147,704,000 looking for work or employed in August to 147,483,000 looking for work or employed in Sept, or 221,000 folks dropped out. If you like non-seasonally adjusted numbers, then 148,166,000 less 147,186,000, or a huge 980,000 folks stopped looking for work or being employed in Sept.

NEARLY ONE MILLION FOLKS STOPPED LOOKING FOR WORK OR BEING EMPLOYED IN SEPTEMBER!!!!





http://www.bls.gov/cps/cpsatabs.htm

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Series Id: LNS12000000Seasonal AdjustedSeries title: (Seas) Employment LevelLabor force status: EmployedType of data: Number in thousandsAge: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual

2004 138566 138301 138298 138576 138772 139031 139660 139681 139480



Series Id: LNU02000000Not Seasonally AdjustedSeries title: (Unadj) Employment LevelLabor force status: EmployedType of data: Number in thousandsAge: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual

2004 136924 137384 137691 138423 138867 139861 140700 140226 139641



Series Id: LNS11000000Seasonal AdjustedSeries title: (Seas) Civilian Labor Force LevelLabor force status: Civilian labor forceType of data: Number in thousandsAge: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual

2004 146863 146471 146650 146741 146974 147279 147856 147704 147483


Series Id: LNU01000000Not Seasonally AdjustedSeries title: (Unadj) Civilian Labor Force LevelLabor force status: Civilian labor forceType of data: Number in thousandsAge: 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual

2004 146068 146154 146525 146260 146659 148478 149217 148166 147186


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PAYROLL SURVEY 96,000 NEW JOBS IN SEPTEMBER

Series Id: CES0000000001Seasonally AdjustedSuper Sector: Total nonfarmIndustry: Total nonfarmNAICS Code: N/AData Type: ALL EMPLOYEES, THOUSANDS

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual

2004 130194 130277 130630 130954 131162 131258 131343 131471(p) 131567(p)