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Thursday, November 1, 2012

2012 The Last Job Report Ever

Posted by Charles Mudede on Thu, Nov 1, 2012 at 7:41 AM

Payroll processor ADP said U.S. private-sector employers added 158,000 jobs in October, which was above expectations, and weekly initial jobless claims fell by 9,000 to 363.000 last week, coming in lower than forecasts.

The man needs bad job numbers, and he should keep his fingers crossed because there's still a chance he could get them (job losses in the public sector, a sector which has yet to stop bleeding, could cancel the gains in the private sector).

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Well, at least Fox News can just run all that "department of labor conspiracy theory" stuff over again.

Posted by Theodore Gorath on November 1, 2012 at 8:19 AM

Except of course for the fact that GOP governors have been the ones mainly responsible for shedding public-sector jobs in their states faster than a husky sheds fur in a heat-wave. Not that I wouldn't put it past Romney to blame Obama for the loss of those same jobs, but still, something to keep in context.

Posted by COMTE

on November 1, 2012 at 8:39 AM

Sloppy reporting. That's not the main jobs report. The Labor Dept will issue that tomorrow.

Posted by NotYourStrawMan on November 1, 2012 at 8:40 AM

If you had bothered to read the article you linked to, you would have read this: "Those numbers are all a prelude to the government's monthly jobs report on Friday."

Posted by NotYourStrawMan on November 1, 2012 at 8:41 AM

It would be ironic for him to cry over low public sector employment numbers. But I wouldn't put it past him.

Posted by sall on November 1, 2012 at 8:41 AM

From the social media front it looks like they are going with "#Benghazigate"...

Posted by Pick1 on November 1, 2012 at 8:44 AM

Less public sector jobs... that means the size of government is shrinking. Every republican's wet dream!

Republicans will be congratulating Obama on this, right?

Posted by Urgutha Forka on November 1, 2012 at 8:57 AM

@3 please read my post again. what did I say about Romney's fingers.

Posted by Charles Mudede on November 1, 2012 at 9:47 AM

what's the best it UR could fall to ? 7.7%?

they'll still spin that as too little too late. we should have been a full employment by now!

Posted by Max Solomon on November 1, 2012 at 10:04 AM

I wonder what impact Sandy will have on the jobs numbers and when those will be showing up.

Posted by Cracker Jack on November 1, 2012 at 11:12 AM

@3 and @4. my apologies, the heading of my post is sloppy. it meant tomorrow and not today. i see now the reason for the misreading.

Posted by Charles Mudede on November 1, 2012 at 11:17 AM

@2 actually, it's mostly D governors of blue states. Nice try.

Posted by Will in Seattle

on November 1, 2012 at 11:39 AM

Oh and tomorrow's jobs report uses a different calculation method.

Which may make some pretend jobs went down, when in fact jobs went up.

Posted by Will in Seattle

on November 1, 2012 at 11:40 AM

@2/12:

You are both kind of wrong. If you take both local government and state government jobs together, blue and red states are performing almost identically as far as public sector job losses are concerned.

What is not debatable is if we changed our tax code (rich pay fair share, loopholes closed, tax haven money actually taxed) so we could hire back all those government workers, unemployment would be at around 6%.

http://www.washingtonpost.com/blogs/fact…

Posted by Theodore Gorath on November 1, 2012 at 12:06 PM

We should all cross our fingers, because jobs reports are noisy and unstable, the available private forecast preludes to tomorrow's BLS report are mixed, and this last report before Election Day may have exaggerated significance to this week's weakly-committed voting public.

Posted by RonK, Seattle on November 1, 2012 at 2:36 PM