Unemployment rate at 8.3% despite 150k people leaving the workforce

[RazorX]

LOL

President Obama’s top economic aide described the July jobs report — which shows a small increase in the national unemployment rate — “further evidence” that the economy is recovering.


“While there is more work that remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to recover from the worst downturn since the Great Depression,” Alen Krueger, chair of the White House Council of Economic Advisers, wrote.

These guy's have been drinking the Obama Kool-Aid so long its made the brains totally useless.

[dixon76710]

How do you figure an increase of 172,000 private sector jobs means things are "continuing to deteriorate?" I mean, you really have to try to reach that conclusion.

Nooo, you are the one spinning.

the report's household survey showed that the actual amount of Americans working dropped by 195,000, with the net job gain resulting primarily from seasonal adjustments in the establishment survey.

[Dungheap]

Dung's logic goes something like this: if I lose a million dollars, but get back $700K, I got a good deal.

That's not a terribly good analogy for a number of reasons, not least of which is the fact you assume that the people not working actually want to work. That's just not so given that the unemployment rate remained largely unchanged.


Edit: The above is wrong but I don't have time to go through it so I'll just leave it there with this note.

[dixon76710]

These guy's have been drinking the Obama Kool-Aid so long its made the brains totally useless.

Yeah, for them it is just more evidence of how bad Bush was.

[Damocles]

As Damocles said when the employment rate was going down, its the direction that matters not the numbers.

Link.

[dixon76710]