Tuesday, October 22, 2013

Better Late Than Never....

The job reports is released and it shows modest growth.

Okay, the Department of Labor released the long delayed job numbers for September. During our government shutdown, a whole lot of government workers were off the job. The release of the job numbers usually come out on the first Friday of the next  month.

So what goes on in the job sector helps motivate our economy. And yet again, a decent amount of jobs, but slight work on the job unemployment number.

The report shows 148,000 jobs were released bring the unemployment number to 7.2%.

Bloomberg reports that the payrolls climbed less than projected in September, indicating the U.S. economy had little momentum leading up to the federal government shutdown. The jobless rate fell to an almost four-year low.

The addition of 148,000 workers followed a revised 193,000 rise in August that was larger than initially estimated, Labor Department figures showed today in Washington. The median forecast of 93 economists surveyed by Bloomberg called for a 180,000 advance.
The Stallmigos. Senators Ted Cruz (R-TX) and Rand Paul (R-KY).
Progress in the labor market depends on how quickly the world’s largest economy can bounce back from the loss of business caused by the fiscal impasse. The budget dispute weighed on fourth-quarter growth and will prompt Federal Reserve policy makers to wait until March before starting to trim stimulus, a Bloomberg survey showed last week.

“Hiring will remain modestly positive,” Jason Schenker, president of Prestige Economics LLC in Austin, Texas, said before the report. He was the top-ranked forecaster of payrolls in the past two years, according to data compiled by Bloomberg. “The unemployment rate will come down very gradually. The shutdown came at an inopportune time.”

Bloomberg survey estimates ranged from increases of 100,000 to 256,000. Revisions to prior reports added a total of 9,000 jobs to overall payrolls in the previous two months.

The unemployment rate, derived from a separate Labor Department survey of households rather than employers, was forecast to hold at 7.3 percent, according to the Bloomberg survey median.

The participation rate held at 63.2 percent, matching the lowest since August 1978.

The September payroll figure reflects the pay period that includes the 12th of the month, two weeks prior to the federal shutdown. Today’s report doesn’t include any late responses from employers, indicating the figures will be subject to revision as is typical each month.
The poor leadership. House Speaker John Boehner (R-OH), Senate Majority Leader Harry Reid (D-NV), Senate Minority Leader Mitch McConnell (R-KY) and Minority Leader Nancy Pelosi (D-CA).
It will take some time to confirm or refute that the shutdown and political brinkmanship in Washington led to a sharp pullback in activity this month, so the data may be discounted, some economists said.

So once again, the conservative agitators will bitch about the job numbers. They will not be satisfied.

And even though there's a modest amount of jobs being created, there's still hundreds of Americans still looking for jobs and the participation rate is fairly decent.

It wouldn't matter how low the unemployment numbers go, as long as President Barack Obama is in the White House, those in the junk food media will continue to put more pressure on him and not on those who are in charge of Congress.

You see that most Americans are not satisfied with Republican leadership in the House of Representatives.

Republicans can't get things done. They've stall immigration reform. They killed gun control. They haven't passed a bipartisan jobs bill. They ignored the president's proposals. They've stall nominees for cabinet positions. They have created committees that target individuals. They got riled up over every thing done or every tragic event in America. They've called for firings of cabinet members for minor issues.

And yet, the Democrats get a portion of the blame. For what?

Not saying to the junk food media, the Republican Party and its allies in the conservative movement have destroyed this country in their ongoing obsession to beat the president.

We need to uproot the Republicans and put in reasonable candidates who are willing to work for the people.

No more wasted battles on issues that appeal to a core minority of extremists.

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