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Another "Big Miss" For The "Lackluster" Clinton-Obama Economy

- October 2, 2015

IN ANOTHER "SETBACK," TODAY'S JOBS REPORT "DISAPPOINTS" AND IS "RAISING CONCERNS" ABOUT THE CLINTON-OBAMA ECONOMY

The September Jobs Report "Missed Expectations" And "Could Cool Expectations" For The Economy Previously Set By The Federal Reserve. "The U.S. economy created 142,000 jobs in September, a number that missed expectations and could cool expectations that the Federal Reserve will start raising interest rates soon." (Jeff Cox, US Created 142K Jobs Vs 203K Expected," CNBC, 10/2/15)

  • The New York Times Headline: "Jobs Report Is Lackluster, Raising Concern On Economy's Course" (Patricia Cohen, "Jobs Report Is Lackluster, Raising Concern On Economy's Course," The New York Times, 10/2/15)
  • CBS Headline: "Big Miss: U.S. Added Only 142K Jobs In September" ("Big Miss: U.S. Added Only 142K Jobs In September," CBS News, 10/2/15)
  • CNN Headline: "In Setback, U.S. Adds Only 142,000 Jobs." (Patrick Gillespie, "In Setback, U.S. Adds Only 142,000 Jobs," CNN, 10/2/15)
  • Barron's Headline: "Jobs Report Disappoints As U.S. Adds 142,000 Jobs." (Amey Stone, "Jobs Report Disappoints As U.S. Adds 142,000 Jobs," Barron's , 10/2/15)

Barron's Amey Stone: "'Shockingly Bad' Might Be More Apt" For The September Jobs Report." "The word 'disappointing' doesn't quite do it justice. U.S. nonfarm payrolls climbed by 142,000 in September, well below expectations, according to the Labor Department's monthly report on Friday. Consensus among economists was for 200,000 new jobs to be added. 'Shockingly bad' might be more apt." (Amey Stone, "Jobs Report Disappoints As U.S. Adds 142,000 Jobs," Barron's , 10/2/15)

The Weak Jobs Report Is Just Par For The Course Under Clinton-Obama Leadership

The U.S. Economy Experienced Yet "Another Month Of Weak Job Growth In September." "The U.S. economy posted another month of weak job growth in September, suggesting global economic turmoil is sapping momentum from the U.S. expansion." (Josh Mitchell And Kate Davidson, "U.S. Adds 142,000 Jobs In September," The Wall Street Journal, 10/2/15)

The Jobs Report Mirrors The "Lackluster Report For The Previous Month" Spurring "Concerns About The American Economy's Momentum." "Employers added a mere 142,000 jobs in September, the Labor Department said on Friday, suggesting that the American economy is losing momentum after a similarly lackluster report for the previous month." (Patricia Cohen, "Jobs Report Is Lackluster, Raising Concern On Economy's Course,"The New York Times, 10/2/15)

JJ Kinahan, Chief Strategist At TD Ameritrade, Called The Report "Ugly, Really Ugly" And Said The Report Is "Telling Us The Domestic Economy Is Slowing." "Ugly, really ugly, it's just hard to find anything good in the report,' said JJ Kinahan, chief strategist at TD Ameritrade. 'After last month we could all point to jobs, and say at least they are holding in there. The report is telling us the domestic economy is slowing.'" (Kate Gibson, "September Employment Report One Big Disappointment," CBS, 10/2/15)

As If That Wasn't Bad Enough, Revisions For The Prior Two Months "Painted An Even Bleaker Picture"

"Revisions For The Prior Two Months Painted An Even Bleaker Picture" With Both August And July Jobs Growth Declining. "Revisions for the prior two months painted an even bleaker picture, with August payrolls down to 136,000 from an initial read of 173,000. July was revised down as well, to 223,000 from 245,000. Over the past three months, job gains have average 167,000 a month." (Kate Gibson, "September Employment Report One Big Disappointment," CBS, 10/2/15)

Job Growth From Both August And July Was Revised Down To "Weaker" Levels Than Previously Thought. "Job growth was also weaker earlier this summer than previously thought. Payrolls increased 136,000 in August instead of the initially reported 173,000. They grew 223,000 in July, down from the previously reported 245,000." (Josh Mitchell And Kate Davidson, "U.S. Adds 142,000 Jobs In September," The Wall Street Journal, 10/2/15)

America's Labor Force Participation Rate Remains Mired In Levels Not Seen Since The 1970's

"One Reason For The Lackluster Job Gains In September Was That More People Left The Work Force." "One reason for the lackluster job gains in September was that more people left the work force. The labor force participation rate -- a sign of how many people are working or looking for work -- declined to 62.4 from 62.6." (Patrick Gillespie, "In Setback, U.S. Adds Only 142,000 Jobs," CNN, 10/2/15)

The U.S. Currently Has The "Lowest Labor Force Participation Rate In A Generation ." "The unemployment rate has been declining steadily, but that has come in significant part due to the lowest labor force participation rate in a generation." (Jeff Cox, US Created 142K Jobs Vs 203K Expected," CNBC, 10/2/15)

In September, The Labor Force Participation Rate Declined From 62.6 To 62.4 Percent. (Bureau Of Labor Statistics, Accessed 10/2/15)

  • The Labor Force Participation Rate Of 62.4 Percent Is At A Level Last Seen In October 1977. (Bureau Of Labor Statistics, Accessed 10/2/15)

15.8 Million Americans Remain Unemployed, Underemployed Or Have Given Up Looking For Work. (Bureau Of Labor Statistics, Accessed 10/2/15)

The Report Continues To Show Signs That The American Economy Is On The Wrong Track And Is "Calling Into Question Once Again The Sturdiness Of The Nation's Recovery"

The Weak Jobs Report Is "Calling Into Question Once Again The Sturdiness Of The Nation's Recovery." "The American job market added just 142,000 jobs in September, according to government data released Friday morning, well below the robust pace many analysts had expected and calling into question once again the sturdiness of the nation's recovery." (Yian Q. Mui, "Economy Adds 142,000 Jobs In September, Missing Expectations," The Washington Post, 10/2/15)

"Overall, The September Jobs Report Raises Questions About The Economy's Momentum Going Into The End Of The Year." "Overall, the September jobs report raises questions about the U.S. economy's momentum heading into the end of the year." (Patrick Gillespie, "In Setback, U.S. Adds Only 142,000 Jobs," CNN, 10/2/15)

The Report Further Raises "Concerns About The Resilience Of The U.S. Economy." "The U.S. economy added a disappointing 142,000 jobs in September, marking a slow down in the labor market amid turbulent global growth. The jobless rate remained at 5.1 percent, maintaining the lowest level since April 2008, but only because people stopped looking for work last month, the Labor Department reported on Friday. The jobs data raise concerns about the resilience of the U.S. economy." (Vicki Needham, "Economy Adds Only 142K Jobs In September," The Hill, 10/2/15)

Chief Economist At Mesirow Financial, Diane Swonk, Stated "It Would Be More Reassuring If We Could See A Point Where The Economy Is Truly Firing On All Cylinders For A Change." "Diane Swonk, chief economist at Mesirow Financial, noted in an analysis before the report's release that 'it would be more reassuring if we could see a point where the economy is truly firing on all cylinders for a change.'" (Patricia Cohen, "Jobs Report Is Lackluster, Raising Concern On Economy's Course," The New York Times, 10/2/15)


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