Jobless rate drops to 8.5%

[myp]

Nonfarm payrolls increased by 200,000 beating economist expectations of 150,000. The unemployment rate dropped from 8.7% to 8.5%.

http://www.reuters.com/article/2012/01/06/us-usa-economy-idUSTRE7BM0AB20120106

 

[Patrick]

Nonfarm payrolls increased by 200,000 beating economist expectations of 150,000. The unemployment rate dropped from 8.7% to 8.5%.

http://www.reuters.com/article/2012/01/06/us-usa-economy-idUSTRE7BM0AB20120106

First of all, that's the fake unemployment rate that doesn't count "discouraged wokers" - the real rate is much higher. Secondly much of the 0.1% drop is based on temporary Christmas hiring - we'll see the rate go back up when january's numbers are announced.

 

[myp]

First of all, that's the fake unemployment rate that doesn't count "discouraged wokers" - the real rate is much higher. Secondly much of the 0.1% drop is based on temporary Christmas hiring - we'll see the rate go back up when january's numbers are announced.

This is the official rate. Everyone knows it does not count discouraged workers, but that does not make this news unimportant.

Also, this is seasonally adjusted- Christmas hiring is accounted for.

And the drop was 0.2%.

The situation is still bad, it is fine to criticize, but at least get your facts straight if you are going to do it.