Jobs Report: No jobs created in August.

cada5

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The number is out:
Disaster.

Zero new jobs created in August.

A big fat goose-egg.

This is much worse than the 68K that was expected by analysts.

Private payrolls grew at an anemic 17K. That's far worse than the 95K that was expected, and the 91K predicted by ADP.

Manufacturing payrolls shrank by 3K.

Unemployment stayed at 9.1%.

Average hourly earnings shrank by 0.1%, which is ominous.

The thinking now: QE3 is much more likely, since we're getting the kind of disinflationary data that the fed needs to justify more easing.


Read more: http://www.businessinsider.com/the-august-non-farm-payrolls-report-2011-9#ixzz1WpcpRyq5
 

cada5

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WASHINGTON — Employment growth ground to a halt in August, as sagging consumer confidence discouraged already skittish U.S. businesses from hiring, keeping pressure on the Federal Reserve to provide more monetary stimulus to aid the struggling economy.

Nonfarm payrolls were unchanged last month, the Labor Department said Friday. It was the first times ince 1945 that the government has reported a net monthly job change of zero.The August payrolls report was the worst since September 2010, while nonfarm employment for June and July was revised to show 58,000 fewer jobs


http://www.msnbc.msn.com/id/44370462/ns/business/#.TmDxrGMxWHs
 
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hope?

corporations & banks got this nation by the balls. they're not wiling to make any concessions that could reduce their profit margins

it don't even matter, wouldn't be that much better if a few thousand retail & service-type jobs opened up. no one's making a living wage off that
 
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QE3 won't create jobs. It just fattens bottom lines and devalues the dollar.
 
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Businesses aren't spending. They'really holding onto every dime. I don't have the exact data but looking around area, we could use more grocery/convenience stores. That'd bring more jobs to my area at least for construction and then retail. People are always in need of food and basic stuff for everyday living. Gasp I just created some jobs for the inner city folk.
 
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Originally Posted by LazyJ10

Best believe true unemployment is greater than 10%.
probably closer to 12 honestly...
...
...
...


/\ nah thats too high... ive heard ppl laughingly say 15 tho...
 

b smooth 202

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you have to start looking at yourself as capable of replacing these people....the international revolution is on the cusp.
 
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In before:


"Businesses don't want to hire over uncertainty over what Obama will do next."

"There's too many regulations, we need to get rid of the EPA, FDA, and Clean Water Act"

"Taxes are too high, the corporate tax rate is the highest in the industrialized world"
 
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Originally Posted by LazyJ10

Best believe true unemployment is greater than 10%.

Its gotta be really in the 15-20%+ range because they're a lot of people not working. It's just getting worse. Its amazing how nothing was done to stop this years ago. Everybody was sitting pretty ignoring obvious problems. It never fails.
 

cada5

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Originally Posted by cguy610

In before:


"Businesses don't want to hire over uncertainty over what Obama will do next."

"There's too many regulations, we need to get rid of the EPA, FDA, and Clean Water Act"

"Taxes are too high, the corporate tax rate is the highest in the industrialized world"
Funny you mention the EPA. The god-king just withdrew regulations on smog. He is scrambling.
WASHINGTON (AP) — President Barack Obama is directing his administration to withdraw a controversial proposed regulation updating government smog standards.

The withdrawal comes two days after the White House identified seven proposed regulations that would cost the economy at least $1 billion each. The proposed updated smog standard was estimated to cost anywhere between $19 billion and $90 billion, depending on how strict the standard would be.

In a statement, Obama says he made his decision in part because it is important to reduce regulatory burdens on businesses as the economy recovers. He says he is still committed to protecting public health and the environment.


http://news.yahoo.com/oba...egulation-143731156.html
 
8,911
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Wages are stagnant while necessities like food and energy are spiking. The majority of people who retained their jobs during this recession have less purchasing power than before due to inflation.

If the government cared about fixing the economy, they would have forced banks to automatically no-cost refinance mortgages at the lower rates when the Federal Reserve took all these actions to boost the housing. However, all they cared about was transferring wealth to the banks.

So what we are left with are people that can't refinance at the lower mortgage rates because the home equities are underwater. Furthermore, the people paying higher rates have to do a costly refinance to get the lower rates instead of a no-cost automatic refinance that would give Americans more disposable income.
 
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Originally Posted by RKO2004

Originally Posted by LazyJ10

Best believe true unemployment is greater than 10%.

Its gotta be really in the 15-20%+ range because they're a lot of people not working. It's just getting worse. Its amazing how nothing was done to stop this years ago. Everybody was sitting pretty ignoring obvious problems. It never fails.
Definitely. In addition, the stats don't include: 1) New college graduates who want to find work....2) People taking contractor jobs and even 3) People who end up having to take jobs that pay them significantly less than what they should be able to make.
 
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The thing is if the graduates dont get jobs you will have a bunch of angry young people who are educated thats always the sign of a rev.
 
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Like I've ranted before in other threads...we, as a country, are now a service providing country. We don't mass produce products or make use of our industrial background of years ago.

The issue with this is, Americans demand the best (used tongue in cheek) but want everything cheap! That in itself, is a paradox. Look at Apple for example, "Designed in California. Assembled (made) in ______". That sums it up.

By becoming a service providing nation we've effectively limited the candidate pool and raised the bar of entry thereby creating another barrier of entry. All of this while not investing in the education of our young (pre-college) and rising costs preventing another generation from becoming qualified.
 

cada5

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Originally Posted by cguy610

If the government cared, they would repeal dodd-frank, repeal obamacare, open the canadian pipeline, pass tort reform, end the wars, re-open drilling in the gulf, 
 
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Originally Posted by Cada5

Originally Posted by cguy610

If the government cared, they would repeal dodd-frank, repeal obamacare, open the canadian pipeline, pass tort reform, end the wars, re-open drilling in the gulf, 
What do any of these things have to do with creating jobs?  I give you credit though, at least you didn't list capital gains tax cuts as a solution. 

I'm asking you to connect the dots to how these items you listed will create jobs. 
 
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it's amazing how people think this will change

boittom like is that many companies have one person with a workload of 3 people. They use the recession as an excuse to not hire. They don't WANT to hire.

It isn't like that person can quit. They have responsibilities. The don't even get a raise because the excuse is the recession

outsourcing plus what I'm talking about will not change. our generation will be worse off than the one before
 
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