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Employment Numbers Get an Unexpected Bump in January

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Posted on Feb 3, 2012
Flickr / edEx

The first month of 2012 turned out to be the best in three years in terms of the ongoing unemployment crisis in the U.S. Although 8.3 percent is nothing to get too excited about, it was supposed to tally up at 8.5 percent for January, so we’ll take it.  But whether the recovery, as suggested here, is “for real” or not remains to be seen.  —KA

Bloomberg:

The unemployment rate dropped to 8.3 percent, the lowest since February 2009, Labor Department figures showed today in Washington. The 243,000 increase in jobs was the biggest in nine months and exceeded the most optimistic forecast in a Bloomberg News survey. Service industries grew by the most in a year, according to a separate report.

“We’ve reached an important threshold here,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. “The recovery is for real.”

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THX 1133 is not in the movie...'s avatar

By THX 1133 is not in the movie..., February 4, 2012 at 1:50 am Link to this comment

Oh, I forgot! Most importantly; Obama needs good
employment numbers or his number is cooked.
But then; you knew this, no?

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THX 1133 is not in the movie...'s avatar

By THX 1133 is not in the movie..., February 4, 2012 at 1:35 am Link to this comment

By driving bear, February 3 at 7:13

so someone please explain to me how the unemployment
% went down
___________________

It’s magic. Never trust statistics.
Whose statistics?
How were the numbers computed?
What is the base line?
And so it goes; the numbers game never ends.

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driving bear's avatar

By driving bear, February 3, 2012 at 8:13 pm Link to this comment

in december 132,952,000 people were working in america
in jan 130,400,000 were working in america

so someone please explain to me how the unemployment % went down

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By Maani, February 3, 2012 at 6:11 pm Link to this comment

Uh…the UNemployment rate dropping does not necessarily mean that the EMPLOYMENT rate rose.  As in past months and years, it can also be the result of (i) people who were collecting unemployment have exhausted their benefits, and/or (ii) the (still) growing “uncounted” who have simply never gone back to work, either because there IS no work, or because they have simply given up looking and are “making do” however they can.

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