Unemployment rate drops to 7.8% in October

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Real Estate Agent with Maui Life Homes / Metro Life Homes RS-78439 / BRE #01708344
https://activerain.com/droplet/JFj

Unemployment rate drops to 7.8% in October

 

It seems that our current administrations plans for economic recovery are hard at work.  From an economic standpoint, it takes an extremely methodical and well-planned approach to combat such severe economic depression. 

I'm glad to see the progress that is being made.

 

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Rainmaker
1,521,684
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

It would be wonderful if the numbers meant something. But... since 345,000 fewer people are working, it looks like it's merely "creative math." And, the U6 unemployment rate (or whatever they call it) hasn't changed - it's still at 14.1.

This kind of math reminds me of "seasonally adjusted" numbers. Huh? a number is a number.

Oct 05, 2012 03:11 PM #1
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Ralph Gorgoglione
Maui Life Homes / Metro Life Homes - Kihei, HI
Hawaii and California Real Estate (800) 591-6121

Marte,

I'm not quite sure where you're coming from.

The numbers are from the U.S. Census.

It seems as if you have some kind of skewed view of the statistics.

Numbers are numbers.

Have they been "seasonally adjusted" for the past 3 years as the census data numbers are showing?

When the unemployment rate numbers went up is that all bad information too?

Oct 05, 2012 03:20 PM #2
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Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

I'm not sure which side to take. I did hear Romney state that this numbers are not accurate since so many people have stopped looking for jobs. I guess it just goes to show that there are two sides to every coin.

Oct 05, 2012 03:25 PM #3
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Ralph - political statistics is a wonderful thing. You get what you wish you get. You believe in what you want to believe. And how good is the "well-planned approach" to bankrupt our children and grandchildren? It is one thing if it comes from ...inexperience, but totally different if it is well planned.

It really does not pass the smell test

Oct 05, 2012 03:27 PM #4
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Ralph Gorgoglione
Maui Life Homes / Metro Life Homes - Kihei, HI
Hawaii and California Real Estate (800) 591-6121

Jon,

Do you honestly believe the threat to bankrupt our children and grandchildren came about as a result of the last 3 years?

WHO DO YOU THINK BANKRUPTED US?  We just got through financing two international wars over the past 10 years.  And then after that our past president wrote everyone checks in a national rebate program!!

And if the numbers from the U.S. Census are political statistics, which statistics are non-political statistics?

Here's an interesting article today from the Huffington Post on why the current unemployment rate should really be 6.8%:

http://www.huffingtonpost.com/mark-gongloff/unemployment-september-2012-78-percent_b_1942873.html

Oct 05, 2012 03:40 PM #5
Rainmaker
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Tom Arstingstall, General Contractor, Dry Rot, Water Damage Sacramento, El Dorado County - (916) 765-5366
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage

It appears that things may be looking better for those seeking employment Ralph.

Oct 05, 2012 05:02 PM #6
Rainmaker
1,509,545
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

As in real estate, one month is not a trend.  Seasonal employment will pick up so we really will not know the trend for months...after the election.

Oct 05, 2012 10:18 PM #7
Rainer
365,576
Edward Gilmartin
CRE - Boston, MA

The consensus was for 118,000...the numbers over the summer were boosted by part time workers...manufacturing jobs were down 16000....government stepped up hiring too. This number looks good but really has never meant much. Economic growth currently at 1.25% is more important. Furthermore the 114000 jobs only puts to work those new entrants into the workforce due to population growth. These no growth economic policies have to come to an end soon.

Oct 05, 2012 10:24 PM #8
Rainmaker
796,857
Liz Wallace
Century 21 Sherlock Homes - Rockville Centre, NY
Broker C21 Sherlock Homes, Rockville Centre, LI, N
Ralph, you are going to get some flack on this. At the end of the day I think we Realtors feel recovery first and there is a slow and present move towards better sales. More homes sold means more trips to Home Depot, furniture stores, kids enrolled in schools. We start the ripple effect, always have. So all the gloom and doom soap boxes might be tipping
Oct 05, 2012 11:44 PM #9
Rainmaker
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Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes
Ralph...I wish I could agree. Really scares me to see over 500k people taking part time seasonal jobs...and calling them employed. I hope more full time jobs will start moving the needle.
Oct 06, 2012 02:29 AM #10
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Doug Rogers
Bayou Properties - Alexandria, LA
Your Alexandria Louisiana Agent

The recovery will be slow regardless of who is in the White House. My take is that the person in the Oval Office has little direct control over the national (heck these days global) economy. Did the Republicans get us in this mess? Yep, along with the Democrats.

Oct 06, 2012 03:31 AM #11
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Ralph Gorgoglione
Maui Life Homes / Metro Life Homes - Kihei, HI
Hawaii and California Real Estate (800) 591-6121

So funny.

A friend of mine told me just yesterday that they are having trouble keeping their part time employees because they're all getting full time jobs.

That, undeniably, can't be anything but a good thing.

Oct 07, 2012 12:46 AM #12
Rainmaker
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Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Maybe we see the recovery first in our areas, Ralph. Things are hopping here in the San Francisco Bay Area. The energy is high; buyers feel confident and are snapping up homes as quickly as they come on the market, people are transferring here to fill the jobs; companies are hiring, restaurants are full, service providers are booked -- all good things.

Oct 12, 2012 06:14 AM #13
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