U.S. Unemployment Rate Probably Unchanged In July

Bloomberg:

The U.S. probably failed to create enough jobs in July to reduce unemployment, showing anxiety over government debt deliberations and a slowdown in consumer spending have shaken employer confidence, economists said before reports this week.

Read the whole story: Bloomberg

Comments

[fortressfountain]

05:25 PM on 08/02/2011

I think they are playing a game. They send merchandise here first and hope to sell it at the highest prices then they keep on shipping it down the line.

[99er2049er]

07:53 AM on 08/01/2011

The fact is neither side will be able to bring back the jobs for many more years to come. Nobody is really talking about it, because nobody has a solution. We can seriously do this, but nobody wants to.

[yoozum]

09:48 AM on 08/01/2011

I think you're right about neither side being able to do it. I think that the government has a very limited effect on the job market unless it's public jobs, which definitely aren't in great shape right now.

[99er2049er]

11:02 AM on 08/02/2011

The sad part is it doesn't have to be this way. The government could fix this by first running a massive partnership and PR campaign with the private sector and public, including massively pushing for returning all outsourced jobs back to the U.S., play on patriotism and customer loyalty. Take Dell for example, if they were to return the tech support department from India back to the U.S., this would create thousands of new jobs, millions of dollars in spending and equipment purchases, and a powerful PR/Advertising program for their company. The government could then reward them with massive tax breaks for the new employee hiring. Those that don't, punish them with heavy tax penalties.

Also, the government could start heavily investing in alternative energy programs, investing in alternative energy companies/projects, new technologies, and pushing for manufacturing plants to return back to our country again. Made in the USA needs a new branding campaign for quality and loyalty.

[DeanWormer]

11:29 PM on 07/31/2011

Jimmy carter finally got his 2nd term.

[Mister Grumpy]

10:58 PM on 07/31/2011

Really........ there are plenty of jobs available..........

That is if your willing to accept the job that pays only slightly more than unemployment and doesn't have health benefits.............

[99er2049er]

07:56 AM on 08/01/2011

I have been in this situation. The problem I found if taking that job, say walmart, mcdonalds, etc. were the following:

1. Trying to interview with another company while working at that job (especially in Los Angeles, you have to commute across town which could be 1 hour or longer each way, plus interview time, etc. so you need to book up a half day for each interview).

2. When the new company finds out you are working at that job, they will either offer you the same amount as that company or ignore you because they think you aren't qualified enough to have a good paying job

3. Even the company you claim will pay just above unemployment, e.g. mcdonalds or walmart, already has a long waiting line of people trying to get the job and they won't take the high paid business professional, why, because the high paying business professional will bolt the minute he or she gets the higher paying job. These smaller paying companies know this, so they will hire the person they think will stick the job out (e.g. foreign workers, those in college or less educated, etc.)

[Mister Grumpy]

01:43 PM on 08/01/2011

You're 100% correct......... I know first hand......... Plus, if you're over 50 forget it........ no one will hire you...........

[MrStat1]

04:05 PM on 08/01/2011

Well that is a damn site better than sucking it out of the taxpayers wallet!

[offmyrocker]

10:39 PM on 07/31/2011

if you think this is going to change with obama in the house, well good luck on your 100 job interview

[99er2049er]

07:58 AM on 08/01/2011

Actually it did change for me. I went from being a 99er to having the best job of my life and the highest paying as well. I also went back to school and earned my degree during the recession. But I can tell you, nobody cared I had a degree, most of the companies I interviewed with paid even less money than before I had the degree. Most of the companies were unstable. I had to apply for jobs for 2 years until I found this job. I actually took another job with an unstable company and had to apply for jobs and interview on the side until I got this job.

[Kenz300]

09:36 PM on 07/31/2011

The unemployment rate is over 9% and the under employment rate is near 20% and yet American has LEGAL immigration of over a million people every single year. If legal immigration was capped when the unemployment rate goes over 5% we would have over 3 million less people looking for jobs. It is time that immigration policy reflect the fact that our unemployment rate is so high. It is time to reduce the H1B visa program until our unemployment rate gets to 5%. American has the highest legal immigrations numbers of any country in the world. We need to find jobs for the people already here first.

[99er2049er]

08:00 AM on 08/01/2011

Agreed. And the same thing goes for outsourcing. Why we reward companies that outsource instead of punishing them amazes me. Take a company like Dell, we should offer them massive tax breaks if they move their entire tech support department to America from India, and penalize them heavily if they keep their operations in India. Why do we allow corporations to outsource our jobs? I see this with IT departments at most of the companies I work or consult for, they outsource them to INdia and Russia (including hiring programmers and IT from those countries and doing the work there or bringing the people here with Visas).

[intolleft]

09:18 PM on 07/31/2011

What ever the actual number, I'm sure it will be "unexpected"

[rnorthro14]

08:05 PM on 07/31/2011

Amazing how much work our infrastructure needs yet we refuse to provide the necessary funding that could end this job crisis once and for all.

[sean zausner]

07:47 PM on 07/31/2011

The market appears to relish the fact that the streak of 16 weeks of 400K+ prints is broken, although that is quite amusing as next week's upward revision will mean the 400k+ streak will continue.

[Social Construct]

07:10 PM on 07/31/2011

Just how many screen names does Dick Armey have, anyway?

[maxfax]

06:54 PM on 07/31/2011

Wierd how jobs increased during the same period in China and India.

[Mister Grumpy]

10:56 PM on 07/31/2011

I'm sure its because of their low taxes on the wealthy...........

They do have wealthy people.......... right?

[corsair1917]

06:28 PM on 07/31/2011

When you spend almost a month putting the country into a tizzy over raising the debt ceiling, yeah you can be pretty sure no one got hired this month.

Stop the unnecessary madness and maybe this country can get back on her feet. Keep knocking her in the back of her knees, she is going to keep stumbling.

[Jerry Villano]

05:31 PM on 07/31/2011

Its Obama and his band of marxist/socialist who are destroying our society. We all cant work for govt. and the party!! which will leave most of us being the toadies of the leftest who will control our movement, earnings, religion, and loyalty...unless we turn on them enmasse and kick them out of power.

[ILoveGreatDanes]

08:22 AM on 08/01/2011

What's wrong with socialism? It's capitalism that's destroyed our economy. Remember the banking meltdown of 2008 which caused this catastrophe in the first place. Pure capitalist greed at its finest.

[acct deletus arbitrarium]

04:46 PM on 07/31/2011

At least this isn't being labeled as "unexpected".

The Progressive Obama economy is settling into place, our future is here.

[intolleft]

09:19 PM on 07/31/2011

When the actual numbers come out....you can bank it that they will be "unexpected"...regardless of which way the numbers go.

[Arts4u]

04:36 PM on 07/31/2011

Expect the same deal as last year.... hiring will remain flat until November 2012 - Holiday shopping. Expect a brief improvement and then layoffs in January.

Since our economy is now heavily based on consumer purchases (god help us), we clearly no longer need economists to 'help up' interpret what's going on. Just talk to your average retail employee.