Jobs report out today

Posted by: newkojak

Jobs report out today - 09/03/04 12:47 PM

Job growth picks up pace<br><br>I'm actually not going to write much about the jobs report. It improved over the last couple of months, but is still falling far short of what people were predicting a real economic recovery, blah blah blah, we've all heard it. What I am going to write about though is a little more contemporary. Contemporary as in today.<br><br>The jobs report was announced today, Friday. Now, most government bureaucracies release information that is not good for anyone's political career on Fridays, especially detailed stories on economics since those are best explained in print. The problem is that no one reads the Saturday paper and hardly anyone sits around for the Friday evening news.<br><br>So if you ever want to know where politicians hide their dirty laundry, check the news on Friday afternoon or Saturday morning.<br><br>-- Charlie Alpha Roger Yankee Whiskey<br>
Posted by: JonnyCat

Re: Jobs report out today - 09/03/04 01:06 PM

Nice story, but the The Employment Situation report is released on Fridays at the begining of the month by the Bureau of Labour Statistics. They actual have a schedule of every report that gets released so you can check yourself.<br><br>The next unemployment numbers will come on Oct 8th - Friday, then Nov 5th - Friday, then December 3rd - Friday.<br><br>http://www.bls.gov/schedule/schedule/2004/2004_sched.htm<br><br>[color:blue]All your sock puppets are belong to us</font color=blue>
Posted by: newkojak

Re: Jobs report out today - 09/03/04 01:24 PM

It's still curious what went into making that decision. Obviously this isn't as indicative as when the Mayor of Rosemont used to release his campaign fund reports on Fridays because they were laced with casino payoffs, but I think it still makes sense. I think the only economic news that ever comes out early in the week is stuff that moves the mortgage market. That's an unqualified opinion though.<br><br>-- Charlie Alpha Roger Yankee Whiskey<br>
Posted by: Boothby4

Re: Jobs report out today - 09/03/04 01:44 PM

What I find interesting is that the national unemployment rate is today is the same as in 96 when Clinton won on a landslide. In 96 the Democrats crowed about it, and today they are all gloom and doom. The more I read and look at the real numbers, the more I'm inclined to agree that the leadership of the DNC is obsessed with defeating Bush at any cost.<br><br><br>Salus populi suprema lex
Posted by: JonnyCat

Re: Jobs report out today - 09/03/04 01:52 PM

I have no idea why this stat is released on Friday - never gave it much thought. But every economic indicator is scheduled ahead of time for release and economists gather and pontificate what it means. Maybe there's a good bar where they mull it over on Fridays over a couple of cold ones.<br><br>[color:blue]All your sock puppets are belong to us</font color=blue>
Posted by: Michael

Re: Jobs report out today - 09/03/04 01:58 PM

Releasing things on Friday is nothing new. It's also why they vote themselves raises on Fri. The eagle screams on Fri.<br><br>
Posted by: AfterTenSoftware

Re: Jobs report out today - 09/03/04 09:02 PM

Exactly right. Many economic indicators are timed to be released as to minimize the impact on the stock market. Market makers have time over the weekend to absorb the data and make more rational decisions.<br><br>Dean Davis<br><br>-----<br>"I think it was the right decision to disarm Saddam Hussein. And when the president made the decision, I supported him, and I support the fact that we did disarm him." -- John Kerry (D) - May 3, 2003
Posted by: newkojak

Re: Jobs report out today - 09/04/04 12:25 AM

That observation would be peculiar if the federal unemployment rate was the only figure people were looking at. Unlike Clinton, Bush has presided over a net loss of jobs. That is, less people are working this election than there were last election. In fact, in the worst months Clinton had in terms of job creation, there was still a net improvement.<br><br>The unemployment rate does not reflect that since it only counts those who lost their jobs in the last 18 months. Many of the down-ticks in the unemployment rate recently have been attributed to people either giving up looking or loosing their benefits.<br><br>-- Charlie Alpha Roger Yankee Whiskey<br>