Good News in the Unemployment Numbers
Everyone is gnashing their teeth this morning because the unemployment rate jumped to 5.5%. But, they seem to be ignoring the other numbers. Yes, there was a shrinkage in non-farm payrolls. In May the job rolls shrank by 49,000 jobs.
BUT…
The expectation was a reduction of 60,000 jobs and the unemployment rate would be 5.1%
We had fewer jobs lost than expected but the rate is higher than expected.
So, what gives?
This seemingly conflicting data is actually pointing to some good news. It means many who had given up on finding a job are now looking. That means they expect their prospects of finding a job to be better now.
The test will be to see how these numbers track over the next few months.
I still expect a pull back in 2009 no matter which candidate wins the election.
I think you are little overly optimistic. Maybe they are looking again because they are desperate and about to go under financially. I can’t see anything good in 49000 jobs being lost in a single month. If you tally up the numbers since the first of the year you can understand why everyone hates Bush. He has done nothing to control this economy and prevent it from imploding. Thankfully we will have Barack Obama in the Whitehouse come January and the process to undo the damage Bush did can start.
@John Masterson:
The President can’t control the economy, no politician can.
But, I do remember Nancy Pelosi telling the American people if they (the democrats) were given control of Congress in the 2006 elections they would solve the high gas prices.
How’s that working out for ya?
Fine smartass if the corrupt excuse for a President we have can’t control it why do you think the Democrats can?
@John Masterson:
I know they can’t. I knew they couldn’t when they were claiming they could in 2006.
“Democrats have a commonsense plan to help bring down skyrocketing gas prices…” - Nancy Pelosi, April 2006
I was merely pointing out the absurd claims made by the democrats in 2006 trying to use the economy for political gain.
Yes unemployment is up but you are not a statistic and there are still thousands of 75K, 100K and 150K jobs out there. try these sites:
http://www.realmatch.com
http://www.monster.com
http://www.hotjobs.com
I believe that if you truly want and try to find a good job, you just will.
Susan, who is it that has posted here you think is looking for a job?