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Well, the jobs report is out.  And it's a mixed bag.  On the one hand, the BLS reports that 163,000 jobs were created in July, exceeding the expectations of 100,000 jobs most analysts predicted.

BUT, the unemployment rate climbed to 8.3%

Guess what will be the headline?

Some tidbits from the BLS report:

Total nonfarm payroll employment rose by 163,000 in July, and the unemployment rate
was essentially unchanged at 8.3 percent, the U.S. Bureau of Labor Statistics reported
today. Employment rose in professional and business services, food services and drinking
places, and manufacturing.
Here's the information about the unemployment rate:
Both the number of unemployed persons (12.8 million) and the unemployment rate (8.3
percent) were essentially unchanged in July. Both measures have shown little movement
thus far in 2012. (See table A-1.)

Among the major worker groups, the unemployment rate for Hispanics (10.3 percent) edged
down in July, while the rates for adult men (7.7 percent), adult women (7.5 percent),
teenagers (23.8 percent), whites (7.4 percent), and blacks (14.1 percent) showed little
or no change. The jobless rate for Asians was 6.2 percent in July (not seasonally
adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

In July, the number of long-term unemployed (those jobless for 27 weeks and over) was
little changed at 5.2 million. These individuals accounted for 40.7 percent of the
unemployed. (See table A-12.)

Both the civilian labor force participation rate, at 63.7 percent, and the employment-
population ratio, at 58.4 percent, changed little in July. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as
involuntary part-time workers) was essentially unchanged at 8.2 million in July. These
individuals were working part time because their hours had been cut back or because
they were unable to find a full-time job. (See table A-8.)

In July, 2.5 million persons were marginally attached to the labor force, down from 2.8
million a year earlier. (These data are not seasonally adjusted.) These individuals were
not in the labor force, wanted and were available for work, and had looked for a job
sometime in the prior 12 months. They were not counted as unemployed because they had
not searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 852,000 discouraged workers in July, a decline
of 267,000 from a year earlier. (These data are not seasonally adjusted.) Discouraged
workers are persons not currently looking for work because they believe no jobs are
available for them. The remaining 1.7 million persons marginally attached to the labor
force in July had not searched for work in the 4 weeks preceding the survey for reasons
such as school attendance or family responsibilities.

BLS also reported 8000 utility jobs lost, but that was due to the ConEd strike.

The biggest gains were in manufacturing and in health care.

So all the news networks will ignore the jobs created and focus on the slight upward tick in unemployment, calling it a "devastating" report, and basically saying that the bread lines are forming.  

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Comment Preferences

  •  Tip Jar (10+ / 0-)

    "Nothing in all the world is more dangerous than sincere ignorance and conscientious stupidity." --M. L. King "You can't fix stupid" --Ron White -6.00, -5.18

    by zenbassoon on Fri Aug 03, 2012 at 05:59:12 AM PDT

  •  Employment up in manufacturing... (6+ / 0-)

    great!  Obama needs to push the auto industry success more and throw in the Romney quote "I'll take credit for that" just for comedic effect.

    The more you learn the less you know.

    by quiet in NC on Fri Aug 03, 2012 at 06:09:04 AM PDT

  •  Bad report, the rethugs say 'SEE, I told ya'..... (2+ / 0-)
    Recommended by:
    doroma, zenbassoon

    Good report, the rethugs say 'SEE, I told ya.'

  •  MSNBC had a breaking news banner (2+ / 0-)
    Recommended by:
    zenbassoon, FloridaSNMOM

    of the unemployment rate creeping up to 8.3%.

  •  You can't sugar coat the employment crisis (5+ / 0-)

    The government's most widely publicized unemployment rate measures only those who are out of a job and currently looking for work. It does not count discouraged potential employees who have quit looking, nor those who are underemployed — wanting to work full-time but forced to work part-time.

    For that count, the government releases a separate number called the "U-6," which provides a more complete tally of how many people really are out of work.

    The numbers in some cases are startling.

    Consider: Nevada's U-6 rate is 22.1 percent, up from just 7.6 percent in 2007. Economically troubled California has a 20.3 percent real rate, while Rhode Island is at 18.3 percent, more than double its 8.3 percent rate in 2007.

    Those numbers compare especially unfavorably to the national rate, high in itself at 14.9 percent though off its record peak of 17.2 percent in October 2009.

    Only three states — Nebraska (9.1 percent), South Dakota (8.6 percent) and North Dakota (6.1 percent) — have U-6 rates under 10 percent, according to research from RBC Capital Markets.

    The care of human life and happiness, and not their destruction, is the first and only legitimate object of good government. - Thomas Jefferson

    by ctexrep on Fri Aug 03, 2012 at 06:19:42 AM PDT

  •  NY Times headline (2+ / 0-)
    Recommended by:
    TXdem, zenbassoon

    "Pace of Hiring Rose in July, but Jobless Rate Ticked Up"

    Always gotta be that "but" in there....

  •  Huh? (1+ / 0-)
    Recommended by:
    zenbassoon

    It was a confusing report.

    Look at the birth/death model. Usually in July this subtracts jobs or adds only a few (last year 5K). What happened this month? They added 52K jobs ... jobs added out of thin air ... based on NOTHING.

    Then we have the seasonal adjustments (known as the fudge factor) that seems to have had problems with the auto industry numbers.

    Then there is the labor force survey which was wildly negative. The number of employed was down in the seasonally adjusted, and the non seasonally adjusted totals.

    Definitely a much weaker report than the headline suggests

    Those who make peaceful revolution impossible will make violent revolution inevitable. - JFK

    by taonow on Fri Aug 03, 2012 at 06:21:07 AM PDT

  •  Actually, the Yahoo.com headline is (4+ / 0-)
    Recommended by:
    TXdem, zenbassoon, Deep Texan, Delilah

    that more jobs were added than expected in July.

  •  Not really (3+ / 0-)
    Recommended by:
    pistolSO, zenbassoon, Deep Texan
    msnbc.com: Economy's job engine revved up in July

    nytimes.com: Pace of Hiring Rose in July, but Jobless Rate Ticked Up

    bloomberg.com: U.S. July Payrolls Rise More Than Forecast; Unemployment at 8.3%

    cbsnews.com: 163K jobs added, unemployment inches up to 8.3%

    cnn.com: July jobs report: Hiring picks up, but unemployment rises

    So it's a mixed headline for sure. CNN's is especially confusing.

    But Obama gets to say that businesses created 172,000 jobs last month. That's a good thing when Swiss Mitt's only chance is for the opposite to be true.

  •  Lowest Common Denominator, Morning Joe, (3+ / 0-)
    Recommended by:
    zenbassoon, Deep Texan, Delilah

    thought it was all good news.

    "My taxes are of the legally correct height, and the core reason for my campaign is to make them a different, lower height, and it is none of your business what precisely either of those heights might be." Mitt, as channelled by Hunter.

    by Inland on Fri Aug 03, 2012 at 06:28:26 AM PDT

  •  Did a snap poll for ya (2+ / 0-)
    Recommended by:
    TXdem, zenbassoon

    Web site headlines and blurbs: Wall Street Journal, believe it or not, was very bullish in its headline/first para excerpt on the home page, as was Google news, which had the WSJ story and headline at the top of the page. NYT exactly balanced - 163,000 jobs added, rate rises to 8.3 - NBC, CBS, Yahoo News on balance more positive than negative, highlighting jobs # first and using "ticked" or "edged" up. ABC did exactly what you said. Didn't bother with FOX!

    The braying sheep on my TV screen make this boy shout -- make this boy scream -- I'm going underground...

    by jamfan on Fri Aug 03, 2012 at 06:30:20 AM PDT

  •  Them's the breaks (1+ / 0-)
    Recommended by:
    zenbassoon

    It's nowhere near good enough to reduce the rate, but it is good enough to encourage people to start looking again.

  •  Willard weighs in... (2+ / 0-)
    Recommended by:
    joe from Lowell, zenbassoon
    Mitt Romney said today the uptick in the nation's jobless rate is a "hammer blow" to the middle class.
    Elect MEEEEEEEEEEE and the middle class won't know what hit em!
  •  Yesterday (0+ / 0-)

    All the comments I read here were praying for 100K, saying 150K would be incredible. If the employment rose 162K, I'd say that is a lot to talk about, regardless.

    However, the unemployment rate will continue to inch upward as long as the long-term unemployed stay that way, or the U-6 doesn't start heading downward.

    Jobs is the solution to both. That is what needs to be hammered at every possible turn.

    Nurse Kelley says my writing is brilliant and my soul is shiny - who am I to argue?
    Economic
    Left/Right: -7.75
    Social Libertarian/Authoritarian: -4.51

    by Bud Fields on Fri Aug 03, 2012 at 11:17:06 AM PDT

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