US unemployment drops

Originally posted by KazetNagorra
US loses fewer jobs than expected

The US economy lost 247,000 jobs in July, far fewer than analysts had expected, official figures show.

With fewer workers being laid off, the unemployment rate fell to 9.4%, down from 9.5% in the previous month, the first drop since April 2008.

Full article: http://news.bbc.co.uk/2/hi/business/8189506.stm

A sign of recovery? Is the stimulus package working or would this have happened anyway? Discuss.

http://www.foxnews.com/opinion/2009/11/12/dan-gainor-obama-job-loss-rising-dow/?test=economy

....

For more than two years, from December 2006 to February 2008, U.S. unemployment was even better than that -- less than 5 percent. Twenty-seven straight months with joblessness averaging less than 4.7 percent. And much of that time, TV viewers were told the economy was doing poorly.

Bush suffered for that spin for eight years. Now it’s Obama’s turn. Journalists convinced the American public that good economic growth and low unemployment were bad economic times. Only one of those numbers has rebounded and the jobless know Obama hasn’t delivered. And no amount of news spin can make 10 percent unemployment look good.
Now, unemployment threatens to go higher still and jeopardize Democrats’ mid-term election prospects. The question is what craziness will Obama and desperate Dems try to pass to buy off the voters in 2010?

And how will Americans afford it?

Originally posted by Wajoma
Some basic economics explained basically for those that only have a basic understanding:

"If you want to understand why “stimulus” programs do not work in the sense of generating economic growth, try the following experiment at home or at your place of business.

Go up to someone and hand them $20 and tell them that by giving them this money, you intend ...[text shortened]... continued "

http://dougreich.blogspot.com/2009/07/obama-please-try-this-at-home.html

Poor analogy. It does not take into account the fact that I'm making the $20 bills on my copier.