Jobs, factory data point to steady economic growth

Comments (39)
byrond2 wrote:

Not seasonally adjusted (real) numbers say 2.8 million jobs were lost from December to January, while 90,000 were lost from November to December. CRAZY

Feb 01, 2013 8:44am EST  --  Report as abuse
web2mon wrote:

The media cannot tell this story as it is. Millions are taking jobs that they can’t afford to take but the do so just to keep afloat, financially. 4% of college grads are unemployed but most 90% of the others either feel underpaid, overworked and hating their jobs. That is the world we live in, indentured at low wages. “But, I guess, I’m lucky to have a job.” you hear people say that all the time, how sad is that. Will it work long term these economics of poverty we have adopted. look to Japan, decades of recession, they are so productive and work so hard but, their economy is constantly bogged down. Is the U.S. any different? I wouldn’t count on it. Oh, but let us rejoice, 160,000 more lousy slave like jobs were added to the roster. Is this as good as it gets?

Feb 01, 2013 9:25am EST  --  Report as abuse
USAPragmatist wrote:

Let me guess…..Since this is a positive report with lots of good signs, it is all lies or some conspiracy by The BLS, right righties/Obama haters?

Feb 01, 2013 9:30am EST  --  Report as abuse
bobber1956 wrote:

You get 160,000 jobs for the month. There are over 300,000 new claims for unemployment EVERY WEEK. Do the math.

Feb 01, 2013 9:36am EST  --  Report as abuse
ConradU812 wrote:

Yes, Reuters, we get it: 1)The New Math supports a rosey picture and; 2) Ignore the man behind the curtain.

Feb 01, 2013 9:58am EST  --  Report as abuse
bobber1956 wrote:

BTW the economy just contracted for the first time since 09. The dollar took a dive against the Euro (we all know how good the Euro has done). That is not right wing thinking, that is just the facts of the last 2 days. Though not so pragmatic.

Feb 01, 2013 10:08am EST  --  Report as abuse
USAPragmatist wrote:

Bobber, how many times do I have to explain this to you? I am guessing this is at least the 3rd or 4th time….The monthly numbers are TOTAL Job gains/losses, in other words if 100,000 jobs were created and 50,000 jobs lost the number would be 50,000. The weekly new unemployment claims is simply jobs lost. So if (for simplicity sake a 4 week month) 350,000 new unemployment gains for each week in Jan., 1.4 million, that means about 1.55 million new hires.

I wonder if one can be that ignorant in the age of the internet without trying to be.

Feb 01, 2013 10:10am EST  --  Report as abuse
artvet2 wrote:

Let’s see, folks, employment report points to steady growth, but unemployment is up. Excuse me, but what is wrong with that picture?

Feb 01, 2013 10:27am EST  --  Report as abuse
Harry079 wrote:

2nd attempt for this posting.

“Average hourly earnings rose four cents last month”

Was that a whole 4 cents?

Holy Copperknickle Batman!

February 1st, 2013, 8:50am EST

Hey if you not going to post my comment at least you should create a comment denied spot. Besides what is wrong with my comment anyways?

Feb 01, 2013 10:37am EST  --  Report as abuse
MKM23 wrote:

@bobber,

Sorry to tell you but what you said does not make any sense. Just because people file for jobless claim does not make them eligible nor does this signify that all of them are unemployed. The contraction in GDP was because of cuts to defense spending. Are you living in a hole or something? All of this information if available on-line.

Feb 01, 2013 10:47am EST  --  Report as abuse
BioStudies wrote:

Oh man Reuters way to push a seasonal employment jump as the only sign of an economic recovery. Like always you are trying to influence low information voters. Sad.

Feb 01, 2013 10:56am EST  --  Report as abuse
Sanity-Monger wrote:

bobber1956, the reported number of jobs for the month is ALWAYS calculated as the difference between jobs lost and jobs gained. I.e. there were 160K more jobs added than the number lost. Now that you have some basic background, perhaps you’d like to read the article again?

Feb 01, 2013 11:17am EST  --  Report as abuse
yubamary wrote:

More Smoke and Mirrors. This Administration always takes credit when something they think is positive happens i.e.jobs, market etc. But they don’t say a word if it’s the other way or they blame somebody else. This is really a sad situation.

Feb 01, 2013 11:27am EST  --  Report as abuse
USAPragmatist wrote:

@Harry, I am with you on the Reuters filter, it makes zero sense sometimes.

@BioStudies, the righties/Obama haters are the ‘low information voters’, just look at the things people like you and bobber say.

This report along with the strong manufacturing report is making me start to think that I am going to be right in my prediction that the USA will be the worlds strongest economy in 2013. It took 10 years and a World War to get out of the last economic downturn even close to the financial crash of 2007-2009. It is taking some crazy monetary policies by the FED to make get us through this (mostly because Congress would not act as they should), hopefully they have a good plan to wind those down.

If the good reports keep coming I am all for allowing the sequestration in March. Might be a bit too soon, but it all about compromise, and the armchair economist in me thinks our economy can handle it now without too many side effects.

Feb 01, 2013 11:27am EST  --  Report as abuse
Timbuk3 wrote:

All you deficit hawks who want to shrink government should not complain about unemployment and general uncertainty and malaise. If you get what you are asking for, then it will be worse yet.

And while your shopping for your foriegn-made goods as W@lmart, stop and wonder what happened to all the good paying jobs.

Interesting though, corporate profits and the 1% seem to be surviving just fine.

All in all, this reinforces my belief that the economy is continuing to get better and I have seen first hand that wages and opportunities are improving, at least they are here in the NorthEast (US).

You can anecdotally try to disprove the data and the reality and continue the doom and gloom outlook but the future is looking brighter despite the naysayers. Romney himself said that if he just hangs out and waits, the economy and (+12M) jobs situation will improve. You don’t even have to give Obama credit for it, but you should allow yourself to enjoy some good economic news once in a while.

Feb 01, 2013 11:35am EST  --  Report as abuse
Harry079 wrote:

USAPrag the USA will not be the worlds strongest economy in 2013. Though I agree that it will be better than Europe and most other countries.

But that isn’t saying a whole lot.

There is still the debt limit issue and ObamaCare is starting to kick in and will cause many jobs losses as 2013 goes on.

My sister who works at Staples just lost her position directly due to ObamaCare costs for the company.

Feb 01, 2013 11:44am EST  --  Report as abuse
moonhill wrote:

GDP went down and unemployment went up and yet the press tells us this is good news? If Bush were still in office this would mean gloom and doom and utter agony.

Feb 01, 2013 11:53am EST  --  Report as abuse

republicans can’t catch a break in their attempts to stop our economic recovery, dismantling the government and subverting democracy. no wonder they call the president obummer because they are on a real bummer right now until more budget and deficit talks begin.

Feb 01, 2013 12:21pm EST  --  Report as abuse
xyz2055 wrote:

Timbuk3..great post! Absolutely agree.

Feb 01, 2013 1:12pm EST  --  Report as abuse

“The length of the workweek for the average worker was steady at 34.4 hours for a third straight month.” This 34 hours per week average is an indication of part time, or temp workers? Full time is generally accepted as a 40 hour work week. I don’t want to be unnecessarily negative, but what is the average hourly wage, and are there benefits, health care coverage, that come with the jobs indicated? And what is the average age of the new hires, that also is good indicator. I’m not right, or left, playing a blame game, I’m just trying to be neutral, and see the truth.

Feb 01, 2013 1:45pm EST  --  Report as abuse
artvet2 wrote:

Employment grows, but unemployment rises – is our government full of horse dooky or not?

Feb 01, 2013 1:48pm EST  --  Report as abuse
feudi wrote:

Reuters must be on Happy juice! Unemployment goes UP, GDP goes DOWN and Reuters calimes there’s “steady economic growth”. Lipstick on a pig…

Feb 01, 2013 1:59pm EST  --  Report as abuse
feudi wrote:

Unemployment went UP and GDP went DOWN. Life is good one The Animal Farm AKA Reuters

Feb 01, 2013 2:03pm EST  --  Report as abuse
Crash866 wrote:

Check back in a few months…tick tock…

Feb 01, 2013 2:08pm EST  --  Report as abuse

What??? One day, we’re told about how great the “recovery” is going, then the next comes the news that the economy is actually -contracting- and now today we’re supposed to believe we have robust job growth.

Is any of this stuff believable? Should we even pay attention?

Feb 01, 2013 2:11pm EST  --  Report as abuse
Crash866 wrote:

http://blogs.reuters.com/anatole-kaletsky/2013/01/31/is-the-current-market-optimism-justified/

The U.S. economy has just suffered its first contraction since 2009, consumer confidence has plunged since November’s election and Americans’ paychecks are only just starting to reflect an increase in payroll taxes averaging $70 per month.

As always, things could go wrong. The two most daunting threats for the year ahead are the prospect of higher interest rates and the unintended consequences of Japan’s generally welcome policies of radical reflation. Long-term interest rates are certain to rise in the bond markets if investors turn out to be right in expecting a stronger global recovery. In fact, this process has started already, with 10-year rates rising in the United States to over 2 percent from 1.4 percent in July. Thus far, rising bond rates have been a healthy phenomenon, reflecting improved economic conditions, but if 10-year rates rise above 3 percent or 3.5 percent, they will become a headache for financial markets and corporate investors.

Feb 01, 2013 2:15pm EST  --  Report as abuse

the Fed gives the the financial Aristocracy unlimited 0% money, backs their gambling and destroys incentive to accumulate cash capital and, or invest it productively. The incentive now is to speculate. Thus this is a fake economy for the middle, and lower class, but very real, and very profitable for the banking aristocracy. It matters not a bit who is supposedly politically in charge, because behind the curtain, the central banks are running the show. Does anyone else remember Orwell, ignorance is strength? Today that means debt is: money in the bank. Inflation is desirable. War is peace.

Feb 01, 2013 3:30pm EST  --  Report as abuse
jscott418 wrote:

Wow unemployment ticks up to 7.9% and this is a “good” number? GDP averaged 1.5% last year and this is good? Reuters I think you need to take the blinders of your liberal agenda. The numbers any way you look at them are not good. 50 months above 7% unemployment is not good.

Feb 01, 2013 3:40pm EST  --  Report as abuse
Galactus9999 wrote:

This article is way too optimistic. The economic recovery we are experiencing is way to shallow. I think we should expect some real Doom and Gloom soon. We are heading toward another recession and there will be far more large layoffs in the next year.

Feb 01, 2013 3:51pm EST  --  Report as abuse
ConradU812 wrote:

It is truly a testimony of the condition our country is in when we see so many supporters of the current economic conditions. To them, this the new definition of progress, growth, and economic success. On top of this, they belittle anyone NOT calling this progress.

Feb 01, 2013 3:52pm EST  --  Report as abuse
bobber1956 wrote:

Prag you have not lived long enough, gotten enough education, worked long enough or accomplished enough to tell me anything of value. You voted for a man that thinks 6 year old kids are wise-all I need to know about any of you. Bisides you are just another of obama’s pethetic little liars.

Feb 01, 2013 4:48pm EST  --  Report as abuse
WJL wrote:

How can you miss 127,000 jobs in 2 months? That is 63,500 jobs per month and an error rate of around 40% when compared to the reported figure of 150,000 jobs.

40%!!! Smells of manipulation!!!

Feb 01, 2013 5:06pm EST  --  Report as abuse
squavy_ wrote:

GDP shrinks and unemployment rises. That’s the good news? Please don’t tell me the bad news.

Feb 01, 2013 5:10pm EST  --  Report as abuse
TheNewWorld wrote:

We have a double edged sword with QE3. Debasing the dollar will make our labor costs a bit more attractive when compared to China. It could help with jobs, but the bad side is people are getting less value for their dollar. Gas is looking like it is going to be back up in $4 range this summer. Food prices going up. The poor and middle class lose the biggest in inflation. If Obama and Congress can get the deficit and debt issues addressed, he may be able to leave the next President a much better situation than what he inherited, and I hope that he can achieve that.

Feb 01, 2013 5:22pm EST  --  Report as abuse
TheNewWorld wrote:

@jscott

“Wow unemployment ticks up to 7.9% and this is a “good” number? GDP averaged 1.5% last year and this is good? Reuters I think you need to take the blinders of your liberal agenda. The numbers any way you look at them are not good. 50 months above 7% unemployment is not good.”

They are looking for silver lining. We are still in a dangerous situation that can go either way, so they spin up the good numbers, and downplay the bad numbers. I prefer that to the other way around like they love to do with Republican Presidents, because the news can affect consumer confidence.

Feb 01, 2013 5:26pm EST  --  Report as abuse
TheNewWorld wrote:

@Timbuk3

Good post. I am one of the deficit hawks, and I fully know that tackling the deficit is going to cause unemployment to rise. But to me that is better than the alternative of inflation that will eat away at any wage increases you are seeing. If the government can adapt a good energy policy, they can help us out greatly with the inflation, but I see the Obama administration going the other direction on that.

I would love a compromise and see us use our Natural Gas resources domestically or expand our nuclear facilities. Those are good, high paying jobs, and puts pressure on other sources of energy.

Feb 01, 2013 5:30pm EST  --  Report as abuse
venturen wrote:

Isn’t Massive deficit spending just great…especially for the banks receiving $100 Billion a month. Who is going to pay the bills?

Feb 01, 2013 6:42pm EST  --  Report as abuse
venturen wrote:

Pravda Announces full employment and Obama and Bernanke for life!

Feb 01, 2013 6:43pm EST  --  Report as abuse
reality-again wrote:

The US population is growing at a 0.7% annual rate, according to World bank data.
Therefore, a 1.5% annual growth rate in US GDP is just 0.8% in real terms.
It’s hardly better than no growth at all, and for the average and low income American it means stagnation or getting poorer, because most of this less-than-modest growth benefits the top percentiles without trickling down.

Recovery happened in Wall Street, not in America.

Feb 02, 2013 9:53am EST  --  Report as abuse
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