Unemployment rate plunges to 4.4%

[R.R.]

The unemployment rate fell in October to 4.4 percent from 4.6 percent in September. It was the lowest unemployment rate since 4.3 percent in May 2001 and was likely to fan concerns that labor markets are growing tight and could contribute to inflation pressures.

Average hourly earnings rose 0.4 percent to $16.91 - higher than the 0.3 percent that analysts had anticipated - while the average work week edged up to 33.9 hours from 33.8. Over the year, average hourly earnings have risen by 3.9 percent, the department said.

http://today.reuters.com/news/articlenews.aspx?type=topNews&storyid=2006-11-03T142328Z_01_N02359086_RTRUKOC_0_US-ECONOMY-JOBS.xml&src=rss&rpc=22

[larry]

Average hourly earnings rose 0.4 percent to $16.91

This is obviously a manipulated figure. 

[Amianthus]

This is obviously a manipulated figure.

The heck with evidence, the "obviously" argument rears it's head again.

No evidence to show it's manipulated?

[larry]

Oh come on, we all know how the curve is used to achieve a desired result. When we have CEO types earning a billion dollars a year, it creates a false image of what is average.

[Amianthus]

Oh come on, we all know how the curve is used to achieve a desired result. When we have CEO types earning a billion dollars a year, it creates a false image of what is average.

So, that would be a "no"?

[Plane]

Are we useing the same methods and sorces to measure the economy every year?


The precision in this case would be less important than that the quality was consistant for comparison purposes.

[sirs]

Shhhhhhhhhhhhhhhhhhhhhhhhhhhhh......it's the economy, stupid

 

[_JS]

I think you forgot part of it:

Factories shed 39,000 jobs in October, marking the fourth straight month of employment cuts. Construction companies got rid of 26,000 jobs, while retailers trimmed 3,500 positions.

Professional and businesses services, meanwhile, added 43,000 jobs. Education and health expanded employment by 28,000, and the government payroll swelled by 34,000.

All told the 92,000 total net jobs added in October were the fewest in a year, when the economy was suffering the blow of the Gulf Coast hurricanes.

Average hourly earnings rose more than anticipated, but did not rise all that much. By the way that generally only causes fear in economists who fret over inflation.

[Amianthus]

Average hourly earnings rose more than anticipated, but did not rise all that much. By the way that generally only causes fear in economists who fret over inflation.

Annualized, 0.4% is 4.8%. That's a healthy raise for most people.

[sirs]

Average hourly earnings rose more than anticipated, but did not rise all that much. By the way that generally only causes fear in economists who fret over inflation.

Annualized, 0.4% is 4.8%. That's a healthy raise for most people.

I wish mine were that good     

[_JS]

Annualized, 0.4% is 4.8%. That's a healthy raise for most people.

Only if 0.4% holds true over the next 12 months, plus that isn't a real 4.8% raise. You'd have to account for inflation to determine what the real raise would be worth.

Sometimes it doesn't even cover the increase in health insurance premiums.

[Amianthus]

Only if 0.4% holds true over the next 12 months, plus that isn't a real 4.8% raise. You'd have to account for inflation to determine what the real raise would be worth.

Recent inflation figures have an annual rate hovering around 3%.

Sometimes it doesn't even cover the increase in health insurance premiums.

My health insurance premiums for 2007 went down.