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Unemployment rate drops to 6.1 percent, 288,000 jobs created in June

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  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Huffington Post: U.S. Creates 288,000 Jobs In June, Unemployment Rate Dips To 6.1%

    "WASHINGTON (AP) -- U.S. employers accelerated their hiring last month, adding a robust 288,000 jobs and helping drive the unemployment rate to 6.1 percent, the lowest since September 2008.

    It was the fifth straight monthly job gain above 200,000 - the best such stretch since the late 1990s tech boom. Over the past 12 months, the economy has added nearly 2.5 million jobs - 208,000 a month, the fastest year-over-year pace since May 2006.

    Friday's report from the Labor Department made clear that the U.S. economy is moving steadily closer to full health after having shrunk at the start of the year.

    June's job gain followed additions of 217,000 jobs in May and 304,000 in April, figures that were both revised upward. Monthly job gains so far this year have averaged 230,833, up from 194,250 in 2013."


    This is news you won't get on Fox News...or they'll find a way to spin it. Despite every attempt by Republicans to stymie growth, it is happening anyway...on Obama's presidency, and they hate that.
  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    Great news while it lasts, and it all remains consistent with late cycle "ponzi finance." Further, rising net-exports and rising oil prices is trouble on the near horizon for price stability. Pace of growth might take us into fiscal surplus territory before Obama leaves office so long as the private credit expansion continues to roll, but with the distribution issues and demand leakages, and god knows what financial tomfoolery of Wall Street and the City of London are up to, I have my doubts.

    Also, note that they blamed the cold weather for the negative q1 gdp, but nobody questions whether or not, the 'historic' job growth is from delays pushing forward hirings into late q1 and q2. So where are we at? Have we made up for the cold weather and then some, or are we still just treading by? We don't start getting q2 gdp numbers from the BLS until late July.

    Also, Republicans are itching to screw this up with another spending fight.
  • Democrat
    Philadelphia, PA
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    I never put much stock in these numbers because once someone's benefits run out ,they are no longer counted as unemployed, it's not as if they found work, it would appear that the labor participation numbers would be more on point, but I am sure that those figures also can be manipulated to reflect whatever point that someone is attempting to make.
  • Center Left Democrat
    Democrat
    Flagstaff, AZ
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    Schmidt:


    Your prediction is right on the mark. FOX "news" commentator Charles Payne is apparently of the opinion that low unemployment is bad for the stock market:


    http://aattp.org/fox-says-complains-about-low-unemployment-says-its-bad-for-economy/
  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    Yes, it is. If the expectation is for rates to go up, and then the FED keeps them where they are at because unemployment does not move down enough, stocks become more valuable. So if you buy a stock with assumption that rates are going up in the future, and then they don't go up, that stock becomes more valuable to you, and you would want to sell the stock at even higher price than you were otherwise looking for.
  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    Just to clarify: this jobs report is nothing to hang our hat on. We still need some combo of massive tax cuts and or government spending increases for public purpose, and a 'transitional' Job Guarantee to deal with the long-term unemployment and systemic poverty issues.
  • Center Left
    Independent
    Central, FL
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    288,000 "New jobs" Sure, but I'm not convinced. Low paying jobs is what I expect it is. They better keep creating jobs because with them being low paying jobs, you may need 2 jobs to pay the bills. So much for spending time with your family.
  • Democrat
    Missouri
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    A good report has come out anticipating a DOW to 44,000. Be happy! Ok, time to get real, but the business report is anticipating this Dow number because of the influence of the bull market as it continues to show excellent returns. I realize there are many factors that can destroy the market, but with jobs becoming more available, the extremely rich releasing more horded billions, technology continuing to develop and poor countries beginning to make major purchasing, it is conceivable to have a Dow at 44,000. It just sends shivers down my spine and a euphoria of happy.

    I Binged "bull market, anticipating Dow 44000". I tapped the first of many listings:

    http://finance.yahoo.com/blogs/breakout/bull-markets-don-t-die-of-old-age--why-dow--44-000-is-coming-193910039.html

    The more investment the more people with jobs. We can only hope and pray that this is in the future, but those that don't pray, you can pay homage to "Spiderman".