Jobless rate down for first time in a year

[Viva Las Espuelas]

good news. i'm surprised no one already posted this in a gloating fashion. now stop spending and let it correct itself. kiss this story goodbye if the current healthcare and the tax and tax bill pass. let's also see what happens to small businesses once this new minimum wage gets in full swing. obviously, not out of the woods, but at least a glimmer of, dare i say it, hope.

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The economy shed 247,000 jobs in July, less than expected and lowest total of losses since last August. Unemployment rate inches down to 9.4%.


By Chris Isidore, CNNMoney.com senior writer
Last Updated: August 7, 2009: 9:16 AM ET

NEW YORK (CNNMoney.com) -- The long-battered U.S. job market showed some signs of improvement in July as employers cut far fewer jobs from payrolls and the unemployment rate fell for the first time in more than a year, according to a government report Friday.
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 job loss in June was also revised lower -- to 443,000 job losses from 467,000.
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%.

[clambake]

what the do you mean "gloat"?

we're with you guys. we want total destruction.

[boutons_deux]

The real news here is that the expectors were wrong, again. BFD

Expectors didn't expect Wall St to go bankrupt, either.

[ChumpDumper]

I would wait another month on the unemployment figure to see if it's a trend. It might be that some unemployed had stopped looking for work and didn't show up in the numbers.

[George Gervin's Afro]

good news. i'm surprised no one already posted this in a gloating fashion. now stop spending and let it correct itself. kiss this story goodbye if the current healthcare and the tax and tax bill pass. let's also see what happens to small businesses once this new minimum wage gets in full swing. obviously, not out of the woods, but at least a glimmer of, dare i say it, hope.

-------------------------------------------------------------------------
The economy shed 247,000 jobs in July, less than expected and lowest total of losses since last August. Unemployment rate inches down to 9.4%.


By Chris Isidore, CNNMoney.com senior writer
Last Updated: August 7, 2009: 9:16 AM ET

NEW YORK (CNNMoney.com) -- The long-battered U.S. job market showed some signs of improvement in July as employers cut far fewer jobs from payrolls and the unemployment rate fell for the first time in more than a year, according to a government report Friday.
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 job loss in June was also revised lower -- to 443,000 job losses from 467,000.
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%.

It's because most of us aren't as petty as you guys are.

[Viva Las Espuelas]

It's because most of us aren't as petty as you guys are.

You must not get it. The right has labeled him the Messiah..they then criticize him and mock him for being the messiah.. Very convenient.

[George Gervin's Afro]

Ok calling you out on your propoganda and then you call me petty. That's funny!

[PEP]

I would wait another month on the unemployment figure to see if it's a trend. It might be that some unemployed had stopped looking for work and didn't show up in the numbers.

Please forgive me but I must agree with chummie on this one.

[Nbadan]

...Well, I think it's a short trend....surprise! Wall Street wins again...on to the next bubble...

[Wild Cobra]

Please forgive me but I must agree with chummie on this one.

Me too. Is it a trend, or not?

[Aggie Hoopsfan]

I saw something today that this is also an estimate and will be adjusted to actual numbers in 2-3 weeks.

[Wild Cobra]

I saw something today that this is also an estimate and will be adjusted to actual numbers in 2-3 weeks.

LOL... Figures.

When I heard that on the news, I just blew it off. Didn't care because too often the first reports of something are wrong anyway.

[Rodriguez]

I would wait another month on the unemployment figure to see if it's a trend. It might be that some unemployed had stopped looking for work and didn't show up in the numbers.

the only trend is the jobs are still being lost just at a slower pace. The parachute can't keep you in the sky, you know.

[Winehole23]

good news. i'm surprised no one already posted this in a gloating fashion.

The economy lost a quarter of a million jobs last month. That's good news?

You're the only one even calling it good news, VLE. In the gloating category, you're the only candidate.

[ducks]

after all my tax payers money given to them
it better go down

[coyotes_geek]

I would wait another month on the unemployment figure to see if it's a trend. It might be that some unemployed had stopped looking for work and didn't show up in the numbers.

There are some articles out there saying that the workforce shrunk, so it looks like that's what happened.

[SnakeBoy]

There are some articles out there saying that the workforce shrunk, so it looks like that's what happened.

You gotta look at the full report to get a better idea of what's going on.

http://www.bls.gov/news.release/empsit.nr0.htm


It's really not very good news.

I think Roubini's predictions will probably be pretty accurate. A little more decline before hitting the bottom around the end of the year. Then bounce along the bottom for a few years with weak growth and high unemployment.

[velik_m]

Eye of the storm.