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More Good News For The President: 171,000 Jobs Created In October

ProudProgressive 2012/11/02 14:00:42

The October jobs report was released this morning, and it is good news for President Obama. Last month the economy added 171,000 jobs, higher than most estimates, the 34th consecutive month of private sector job growth under President Obama. The unemployment rate remained under 8%, though it increased by 1/10 of a point - but that, too is good news, since the increase in the rate is because over half a million Americans re-entered the job market.

Article excerpt follows:

171,000 Jobs Created In October, Unemployment Stays Under 8 Percent



The American economy added 171,000 jobs in October and the unemployment rate ticked up slightly but stayed below 8 percent, according to the latest data from the Bureau of Labor Statistics. Analysts had expected 120,000 jobs to be created. The unemployment rate increased due to the labor force adding 578,000 people. The private sector added 184,000 jobs, while the public sector lost 13,000. The number of jobs created in August was revised up from 142,000 to 192,000, and September was revised up from 114,000 to 148,000. The wider U-6 measure of underemployment fell slightly to 14.6.


Read More: http://thinkprogress.org/economy/2012/11/02/112879...

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  • Bill G53 ~PWCM~JLA 2012/11/02 17:38:18
    Bill G53  ~PWCM~JLA
    +4
    Spin Spin Spin PP. Too late. Hopefully on Tuesday we will see real hope and change

    What an empty suit you are supporting. He trots back to the situation room for a photo op of him appearing presidential in the face of a storm. Where was he when his ambassador was being murdered while drone flew overhead and men on the ground were asking for help? Your POS president was in Las Vegas asking for money for his reelection.

    And the media gives him a pass, worse, they cover for him. They were all over Valerie Plame but let an ambassador be murdered by terrorists and Obama blame a video.

    This piece of dirt has spent 4 years blaming everyone for anything.......

    Oh...... he got Bin Laden! BFD! His ambassador was MURDERED while he watched and did NOTHING!

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  • Kimmel 2012/11/05 18:09:15
    Kimmel
    My old coach used to say, "that's just ice-cream on top of horse sh*t". It's like sinking a 40 foot putt after you already hit 3 in the water. Not much to celebrate.
  • Lulu's Mom 2012/11/03 15:47:57
    Lulu's Mom
    That is great news. With the holidays fast approaching, it will make them much nicer for alot of people.
  • jackolantyrn356 2012/11/03 02:45:38
    jackolantyrn356
    But will they be here in December's end
  • dubbie 2012/11/02 18:46:50
    dubbie
    +1
    Hello It went up , That shows you even Seasonal jobs are taking a hit , No use hiring workers because people have no money to spend . Bottom line is this economy SUCKS , And obama owns it
  • Mad Cow 2012/11/02 17:42:56
    Mad Cow
    +3
    Huh? 171,000 jobs created, yet the unemployment rate ticked up? Would that have anything to do with the 170,000 jobs lost in the same period?....moo
  • Bill G53 ~PWCM~JLA 2012/11/02 17:38:18
    Bill G53  ~PWCM~JLA
    +4
    Spin Spin Spin PP. Too late. Hopefully on Tuesday we will see real hope and change

    What an empty suit you are supporting. He trots back to the situation room for a photo op of him appearing presidential in the face of a storm. Where was he when his ambassador was being murdered while drone flew overhead and men on the ground were asking for help? Your POS president was in Las Vegas asking for money for his reelection.

    And the media gives him a pass, worse, they cover for him. They were all over Valerie Plame but let an ambassador be murdered by terrorists and Obama blame a video.

    This piece of dirt has spent 4 years blaming everyone for anything.......

    Oh...... he got Bin Laden! BFD! His ambassador was MURDERED while he watched and did NOTHING!
  • Cliff 2012/11/02 16:24:56
    Cliff
    +3
    So, more people lose their jobs than there are people getting hired. That's good news?
  • Studied 2012/11/02 16:06:43
    Studied
    You might want to look into how they change this callibration in the past month. It has been changed, but I do not intend to do your work for you.
  • Rebel Yell 2012/11/02 16:01:16
    Rebel Yell
    +2
    How disappointed the Far Right is. They have been hoping the country would go off a fiscal cliff. This is the 25th straight month of new jobs, and a 7.8 percent jobless rate is a hellavuh lot better than 10%, which peaked at the heart of the '07-'09 recession.

    Much of that job growth is in health care , transportation, and utilities. Construction has also added numbers. So, no it's not just seasonal hiring, although that does happen this time of year. Overall orders received by U.S. factories bounced back 4.8 percent, nearly reversing all of a deep slide seen in August.

    Romney has an interesting ad playing in Ohio. He says he has a plan for the auto industry. Little late for that now, Willard.
  • Studied Rebel Yell 2012/11/02 16:07:32
    Studied
    +2
    Jobless rate is 7.9% the same as it was when Obama took office so please show me where the improvement is?
  • Rebel Yell Studied 2012/11/02 16:49:21
    Rebel Yell
    +1
    Jobless rate is not 10%, where it was in' 07-'09. 750,000 jobs lost the month Obama took the oath of office. I just stated what areas saw job growth.

    Good luck with that comprehension problem.
  • Mad Cow Rebel Yell 2012/11/02 17:50:33
    Mad Cow
    The author somehow forgot to also inform you that 170,000 jobs were LOST and the unemployment rate actually ticked up...moo
  • Reichstolz 2012/11/02 15:52:15
    Reichstolz
    +3
    Considering we need over 200,000 created per month just to keep up with population growth, you are jumping for joy over a death march. It is funny how the progressives were railing at Bush about 5.6% unemployment yet you are happy when unemployment remains unchanged at 7.9% under the least intelligent man to ever occupy the white house. How transparent your idiocy is. No wonder why you support someone who proves daily he has no experience.
  • gfreema... Reichstolz 2012/11/02 16:55:41
    gfreeman BN-0
    Romney claims he will add 12 million jobs in 10 years, which is only 100,000 jobs a month. Looks like we should stick with Obama.
  • Reichstolz gfreema... 2012/11/03 17:10:50
    Reichstolz
    +1
    Actually his claim is 12 million in the next 4, which the most analysts agree that just in opening federal lands to oil and gas drilling will bring over half of those in 2 years. 213,000 according to latest BLS statistics entered the workforce last month, and Obama has yet to understand how to remove the government enough to allow the private sector to move in a positive direction.

    I find it humorous that when democrats want something to happen quickly(like disaster relief) they remove government interference(just as the president has done with Sandy). Yet they are too ignorant to see if you did that throughout the year, not just in disaster situations, the economy would grow quickly. I guess it is their need to control the situation(even when they have no clue what they are doing) that drives their ignorance.
  • gfreema... Reichstolz 2012/11/05 13:56:35 (edited)
    gfreeman BN-0
    Well, we really don't know, because he doesn't really have a plan.
  • Reichstolz gfreema... 2012/11/05 13:59:46
    Reichstolz
    +1
    He is about as specific as Obama is. The major difference being he has experience accomplishing what he speaks about.
  • gfreema... Reichstolz 2012/11/05 14:03:17
    gfreeman BN-0
    He built one company with the sole purpose of investing in failing companies, loading them with debt, taking a profit out of that debt, then sacking the company he bought with the bill.

    So, if you mean he has experience loading up companies with debt, then I'll agree with you. He wasn't in the business of building companies and creating jobs.
  • Reichstolz gfreema... 2012/11/05 14:07:18
    Reichstolz
    +1
    Your ignorance is showing. Bain is successful at turning around 78% of the companies they invest in. There is no other venture capital firms I can think of that have that good of a track record.
    And as we have seen Obama is only competent at telling companies "they didn't build that."
  • gfreema... Reichstolz 2012/11/05 14:11:22
    gfreeman BN-0
    But, they are not in the business of creating jobs or saving American jobs. They are in the business of creating wealth for themselves. Also, they are not a true venture capital company. Believe what you wish, see if I care.

    Mitt should stick to his day job, he doesn't care about America. He cares about himself.
  • Reichstolz gfreema... 2012/11/05 14:27:50
    Reichstolz
    +1
    Please, you really need to learn what a "true" venture capital company is. They are not a bank.

    Obama only cares about America when it suits his narcissism.
  • gfreema... Reichstolz 2012/11/05 15:37:11
    gfreeman BN-0
    I know what a true venture capital company is, it's not Bain. Bain is involved in Vulture Capital.
  • Reichstolz gfreema... 2012/11/05 15:40:31
    Reichstolz
    Please do explain. Since I run a venture capital company similar to the Bain model, I would love to see you give me an example of one.
  • gfreema... Reichstolz 2012/11/05 15:45:36
    gfreeman BN-0
    An example of what one? A venture capital company? If you run one then you know. If you've been paying attention to how Bain capital has done some of it's deals then you know they do not operate like most venture capital firms.

    They create no jobs. They create debt and sack the company that they are 'helping' with that debt, take their profit out and walk away.

    Would you do a deal like they did with KB Toys?
  • Reichstolz gfreema... 2012/11/05 15:56:20
    Reichstolz
    They operate exactly like all venture capital firms I am familiar. We are not in business to lose money, although we sometimes do. I bought three manufacturers here in San Diego that were going bankrupt. Fired 200 people that were dead weight, automated, and in 2014 I will move those facilities to Columbia, thanks to the 48 federal and state permits that I am forced to comply with, that cost the business over 1 million per year. We as venture capitalists take bets where no one else will. Sometimes we win sometimes we lose. If you want job security start your own company, otherwise you are at the mercy of someone else.

    So you are unable to provide an example of the venture capital company who operates how you think they should be run?

    As a matter of fact KB toys would not be in business regardless, they were bleeding money. Their merger with Spenser Gifts was the worst move they made prior to Bain recapitalizing the company. Would you rather there is no such thing as Staples, another company that was bleeding money.

    You do understand that what makes a company need venture capital is the fact that they are poorly run and will not be touched by traditional sources, don't you?

    Granted there are some that help with start ups but in many cases the original owner relinquishes 51%...

    They operate exactly like all venture capital firms I am familiar. We are not in business to lose money, although we sometimes do. I bought three manufacturers here in San Diego that were going bankrupt. Fired 200 people that were dead weight, automated, and in 2014 I will move those facilities to Columbia, thanks to the 48 federal and state permits that I am forced to comply with, that cost the business over 1 million per year. We as venture capitalists take bets where no one else will. Sometimes we win sometimes we lose. If you want job security start your own company, otherwise you are at the mercy of someone else.

    So you are unable to provide an example of the venture capital company who operates how you think they should be run?

    As a matter of fact KB toys would not be in business regardless, they were bleeding money. Their merger with Spenser Gifts was the worst move they made prior to Bain recapitalizing the company. Would you rather there is no such thing as Staples, another company that was bleeding money.

    You do understand that what makes a company need venture capital is the fact that they are poorly run and will not be touched by traditional sources, don't you?

    Granted there are some that help with start ups but in many cases the original owner relinquishes 51% of the company to gain start up cash. Their ass is on the line and they do not control what they started.

    Please feel free to describe how you think venture capital should work. Should they come in and plop down wads of cash and allow a company to continue to fail? Just to make you and the brain dead management feel better.
    (more)
  • gfreema... Reichstolz 2012/11/05 16:06:17
    gfreeman BN-0
    I provided you an example. While KB may have been on the way out anyways, do to shifting market dynamics, I find it unethical to only offer 'help' in order to load them up with debt, take your profit, then walk away having them hold the bag for all the debt plus 'consulting fees'.

    You just described exactly what Bain didn't do, thanks for that.
  • Reichstolz gfreema... 2012/11/05 16:47:38
    Reichstolz
    You haven't provided an example of a venture capital firm that doesn't do exactly what Bain does.
  • gfreema... Reichstolz 2012/11/05 16:49:14
    gfreeman BN-0
    You're right, I haven't. Because, thanks for pointing this out by the way, they all operate the same. Too bad government isn't a business, otherwise, you and Mitt would have this on lock.
  • Reichstolz gfreema... 2012/11/05 16:53:18
    Reichstolz
    If government was a business it would have closed its doors in 1837, that is when it started spending more than it takes in. Fortunately, economics are inescapable and the piper is always paid. We will soon meet him in 2016 when no one will buy our debt anymore.

    Venture capital is necessary, without it you would only have government wasting money(that has been confiscated) on the solyndra's of the world.
  • gfreema... Reichstolz 2012/11/05 16:55:37
  • Reichstolz gfreema... 2012/11/05 17:31:20
    Reichstolz
    It is for companies that are in trouble. The reason venture capital exists is to give those who traditional sources won't touch an opportunity.

    And here I thought the people like you were all about helping people. I guess only those who lose money like the government help people, huh?
  • gfreema... Reichstolz 2012/11/05 17:39:12
    gfreeman BN-0
    How are you helping anyone by buying a business, loading it with debt and then laying everyone off? How are you helping anyone by closing a plant in the U.S. and sending it to Columbia?

    You've proved exactly why I don't care for Mitt Romney as President. He and you did not create any jobs.
  • Reichstolz gfreema... 2012/11/05 17:47:28
    Reichstolz
    The money made in one allows more investment elsewhere. I am helping myself and those in Columbia who actually want businesses in their nation.

    Between my businesses I employ over 1,200 people, none of which existed prior to me putting my knowledge and capital to work. I did build that.

    The only person who has your best interest in mind is you, you are a fool to believe otherwise. You think those in elected positions of power give a damn about you? You are a fool. At least those of us in business are honest about our intentions and we know how to move this economy to prosperity. Community organizers do nothing but harm business and the economy, as we have seen for the last four years.
  • gfreema... Reichstolz 2012/11/05 17:50:37
    gfreeman BN-0
    Oh, so now you are counting jobs created in other countries as well. Well, that makes complete sense, because Mitt has created quite a few jobs in other countries. Now, you want to talk about being honest? Well, really what it sounds like is you are honestly self serving.
  • Reichstolz gfreema... 2012/11/05 17:56:29
    Reichstolz
    No the jobs I talk of are from the businesses I have created here. I own manufacturing(that is moving to Colombia) 3 people employed, I own a consulting firm, 10 people employed, I own a licensed and bonded medical facility cleaning company, employs 1,030 in 6 states, and I own a surgical referral service and that employes over 100. Every international business creates jobs where the costs are the least. Even Chrysler(which is now owned by the Italian government) is smart enough to see they don't need to export vehicles to China when they can save money by making them there.

    I would love to keep all of my businesses here, but unfortunately the government thinks they know better how they should be run. So they can tell someone else how to invest their labor, I will go where my business is wanted.
  • gfreema... Reichstolz 2012/11/05 17:58:04
    gfreeman BN-0
    Well, it sounds like you are doing quite well, in spite of Comrade Obama.
  • Reichstolz gfreema... 2012/11/05 21:30:00
    Reichstolz
    That is what the majority of this nation refuses to realize only those who do for themselves will succeed.
  • gfreema... Reichstolz 2012/11/05 21:41:03
    gfreeman BN-0
    That's your opinion.
  • Reichstolz gfreema... 2012/11/06 14:30:44
    Reichstolz
    Not only opinion, it is fact.
  • gfreema... Reichstolz 2012/11/06 15:07:38
    gfreeman BN-0
    Have a reference, perhaps a study that supports this? A case study?

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