http://money.cnn.com/2009/08/07/news/economy/jobs_july/index.htm?postversion=2009080708

The Labor Department reported a net loss of 247,000 jobs in July, the fewest job losses since August 2008. Economists surveyed by Briefing.com had forecast a loss of 325,000.

The unemployment rate fell to 9.4% from 9.5% in June, the first decline in that closely watched reading since April of 2008. Economists had expected unemployment to rise to 9.6%.

Of course, is it because people are dropping off the radar or actually getting jobs?

Not sure but I did watch on the news last night that 10 percent of this country is getting food stamps. My brother was let go from his job last week, and the company I work for continues to decline in buisness. I hope its a sign in the right direction...hard to believe though.

Thought the Whitehouse came on yesterday announcing they expected nasty numbers..?


N/M here is the reason..



Manufacturing employment fell by 52,000 -- the first time since September losses were less than 100,000 -- after shrinking by 131,000 in June. This was probably due to the reopening of General Motors and Chrysler assembly plants after bankruptcy closures.

That definitely helps.. but the GM and Chrysler jobs aren't the only reason.

Remember.. back a few months ago we were seeing 700k per month job losses.

So worst case scenario... we are probably seeing the very bottom. It'll sit here for a bit before companies start adding back and expanding again. By next Spring/Summer I think we will probably see the economy in a full recovery.

http://money.cnn.com/2009/08/07/news/economy/jobs_july/index.htm?postversion=2009080708

Of course, is it because people are dropping off the radar or actually getting jobs?

I think a lot of it is actually dropping off the radar. You can only stay on unemployment for a year, and you figure the recession has been going a lot longer than that.

Don't get me wrong, I'm sure we're close to the bottom, but I don't think we're seeing a surge of hiring just yet.

Yep:

http://ayonae.com/attachment.php?attachmentid=427&stc=1&d=1249667316

Since unemployment numbers are given to the tenth of a percent, how significant is a drop of 0.1%? Was it effectively a 9.50% to 9.40% drop, or 9.54% to 9.35%, or 9.45% to 9.44%...?

I don't understand that chart

It's showing a drop in unemployment, but also a drop in employment too.

maybe its the Rapture

They were just reporting the other day that in my state 2150 jobs have been created so far (people hired) for Department of Transportation work crews, all part of the stimulus monies received for road and bridge infrastructure work. They say they expect the job total once all the projects are underway to be approx 12.5k, just in Minnesota transportation job creation.

Now, given we have 50 states all getting money for transportation projects from the stimulus package, and given that transportation is just one aspect of the package, could it be that there is actually some concrete evidence that the stimulus may be having some impact?



And believe me, there is a LOT of evidence of work crews being hard at it, going by the orange barrels and cones and detours almost everywhere you turn.

Its very likely the stimulus will have an effect, though unlike the Cash for Clunkers money (which was almost used up) most hasn't even been spent yet. If it takes a year to spend 8% of your "stimulus" it really isn't stimulating much, is it?

I'm pretty sure Oregon's unemployment is still climbing.

I wish they would have taken more of the stimulus money and replaced all the old copper lines as well as the roads and bridges. Get us into the 21st century.

The stimulus was never meant to do it all in one shot.. it was designed to keep going over a long period of time.

check it out.. lots of the programs end in 2011.

http://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009