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Economy Added Fewer Jobs Than Expected in November [unemployment rate: 9.8%]
The Wall Street Journal ^ | Friday, December 3, 2010 | By LUCA DILEO And JEFFREY SPARSHOTT

Posted on 12/03/2010 5:48:02 AM PST by MinorityRepublican

Edited on 12/03/2010 6:00:23 AM PST by Admin Moderator. [history]

WASHINGTON—The U.S. economy added fewer jobs than expected in November and the unemployment rate rose to its highest level since April, underlining the continued weakness in the labor market 17 months into the recovery.

Nonfarm payrolls rose by 39,000 last month as private-sector employers added only 50,000 jobs, the Labor Department said Friday. The October number was revised up slightly to show a 172,000 increase from a previous estimate of 151,000.

The unemployment rate, which is obtained from a separate household survey, unexpectedly rose to 9.8% last month. More than 15 million people who would like to work can't get a job.

Economists surveyed by Dow Jones Newswires had forecast payrolls would rise by 144,000 and that the jobless rate would remain unchanged at 9.6%.


TOPICS: Breaking News; Business/Economy; Government; Politics/Elections
KEYWORDS: economy; ecoonomy; expectedlyunexpected; joblessrate; jobs; obama; recession; recovery; unemployment; unexpected
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1 posted on 12/03/2010 5:48:03 AM PST by MinorityRepublican
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To: MinorityRepublican

Unexpected. Again.


2 posted on 12/03/2010 6:01:12 AM PST by John W (Natural-born US citizen since 1955)
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To: MinorityRepublican

17 months into WHAT recovery?


3 posted on 12/03/2010 6:02:44 AM PST by John W (Natural-born US citizen since 1955)
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To: MinorityRepublican

I got a plan. Let’s raise taxes. Pelosi....the gift that keeps on giving. Please...please...please dems elect her speaker again. Please!!


4 posted on 12/03/2010 6:03:24 AM PST by arkfreepdom
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To: MinorityRepublican
Economists surveyed by Dow Jones Newswires had forecast payrolls would rise by 144,000 and that the jobless rate would remain unchanged at 9.6%.

Wisdom of crowds...

5 posted on 12/03/2010 6:05:09 AM PST by garbanzo (Government is not the solution to our problems. Government is the problem.)
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To: arkfreepdom
please dems elect her speaker again. Please!!

You don't mean speaker.

6 posted on 12/03/2010 6:05:36 AM PST by xzins (Retired Army Chaplain & proud of it: Truly Supporting the Troops means praying for their Victory!)
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To: MinorityRepublican

If those damned rich would just pay their fair share of taxes, we’d have zero unemployment right now. Let’s just confiscate their cash and give it to a “Recovery Czar” appointed by Dear Leader Obama and people will be back to work in no time.


7 posted on 12/03/2010 6:07:26 AM PST by Opinionated Blowhard
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To: MinorityRepublican

Shepard Smith wept.


8 posted on 12/03/2010 6:08:16 AM PST by AHerald ("Behold, your mother." And from that hour the disciple took her into his home -- John 19:27)
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To: MinorityRepublican

Whomever is doing the estimating and predicting in this area is incompetent.


9 posted on 12/03/2010 6:09:40 AM PST by John W (Natural-born US citizen since 1955)
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To: MinorityRepublican

I missed Recovery Summer.


10 posted on 12/03/2010 6:10:05 AM PST by lacrew (Mr. Soetoro, we regret to inform you that your race card is over the credit limit.)
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Comment #11 Removed by Moderator

To: Opinionated Blowhard

I had a conversation with an uninformed family member yesterday. Her husband works in a local, family owned business. He is the ONLY person in the office who is not a family member of the owner.

So my relative was saying that the dims should raise taxes on the wealthy. I told her that would possibly cause her hubby to lose his job because when the owner’s taxes go up he’s not going to fire his son, daughter or son-in-law. It’s gonna be the one that he doesn’t have to see at Thanksgiving, Christmas, graduations, etc who is going to get the ax.

She was unconvinced. I sincerely hope I don’t have an opportunity to say “I told you so.”


12 posted on 12/03/2010 6:14:57 AM PST by Josa
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To: MinorityRepublican

Per seasonally adjusted household data:

Civilian Labor Force: +203,000
Employed: -173,000
Unemployed: +276,000

http://www.bls.gov/news.release/empsit.a.htm


13 posted on 12/03/2010 6:15:12 AM PST by algernonpj (He who pays the piper . . .)
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To: AHerald

No kidding. Wasn’t he just crowing yesterday about some report that stated everything was improving....slowly but still improving?


14 posted on 12/03/2010 6:16:30 AM PST by abigailsmybaby ( I'm not going to buy my kids an encyclopedia. Let them walk to school like I did. Yogi Berra)
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To: MinorityRepublican
--and stock futures are up, this may be a factor:

White House Offers $150 Billion Deal To Extend Tax Cuts The White House has signaled its price for yielding to GOP demands to extend upper-income tax cuts: $150 billion to pay for a year of emergency jobless benefits and a batch of expiring tax credits. Even as the House voted 234-188 to preserve only middle-class tax cuts, Democrat and Republican negotiators are hashing out a deal expected to extend upper-income tax cuts for two or three years. The question is whether the GOP will take the White House ...

15 posted on 12/03/2010 6:16:35 AM PST by expat_panama
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To: MinorityRepublican
Economists surveyed by Dow Jones Newswires had forecast payrolls would rise by 144,000 and that the jobless rate would remain unchanged at 9.6%.

Thereby demonstrating the value of consensus. I don't s'pose anyone asked Algore what he thought the jobless rate would be?

16 posted on 12/03/2010 6:16:54 AM PST by FourPeas (From the same mouth come blessing and cursing. My brothers, these things ought not to be so. Ja 3:10)
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To: MinorityRepublican

‘unexpected’

Translation: We have no idea what we are doing or what the hell is going on.


17 posted on 12/03/2010 6:19:59 AM PST by TomGuy
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To: MinorityRepublican

Barry, you’re doing a heck of a job.


18 posted on 12/03/2010 6:20:02 AM PST by JPG (Sarah dedicated her new book to Trig: "I'm glad you're here.")
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To: MinorityRepublican

Further evidence (as if we needed more...) that the Bush tax cuts need to be made permanent...especially for those business that could be capable of hiring and digging us out of this jam!


19 posted on 12/03/2010 6:21:20 AM PST by CAluvdubya (Palin 2012...YOU BETCHA!.)
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To: John W
17 months into WHAT recovery?

The only thing that seems to be in 'recovery' is the UE rate, which has risen from a few-month lull of 9.5-9.6%
20 posted on 12/03/2010 6:22:33 AM PST by TomGuy
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To: MinorityRepublican
The U.S. economy added fewer jobs than expected in November and the unemployment rate rose to its highest level since April, underlining the continued weakness in the labor market 17 months into the recovery

Now that's a comical sentence.

- The unemployment rate goes up and they position it as "fewer jobs than expected"? We lost jobs.

- What "recovery"? There isn't any. All that's happened is a slightly slower rate of job losses, which may be statistical crap anyway.

The Objective Press. Whatta laugh.

21 posted on 12/03/2010 6:22:52 AM PST by Regulator (Watch Out! Americans are on the March! America Forever, Mexico Never!)
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To: TomGuy
Translation: We have no idea what we are doing or what the hell is going on.

They must be high...

22 posted on 12/03/2010 6:23:34 AM PST by mmichaels1970
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To: MinorityRepublican
This figure includes retail hiring for the Holidays, underscoring just how terrible this number really is.
23 posted on 12/03/2010 6:24:49 AM PST by Rational Thought
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To: MinorityRepublican
The U.S. unemployment rate "matches the longest stretch at such an elevated level since World War II."

Shout it from the mountain tops.

24 posted on 12/03/2010 6:26:56 AM PST by FourPeas (From the same mouth come blessing and cursing. My brothers, these things ought not to be so. Ja 3:10)
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To: MinorityRepublican
[...unemployment rate, which is obtained from a separate household survey, unexpectedly rose to 9.8% last month.]

If 50% of America was unemployed I believe the lamestream media would stick to the 9.8 percent rate. Just like the 12 million illegal immigrants number never rises. Or the government reported increase of only 1% inflation, a lie that conservative economists report to be over 10%. This obamantion administration is using the tactics all communist nations do by controlling the numbers reported using the communist controlled media, mostly stupid overpaid liberals who are not worth watching or hearing from at all as they are boring and lying regularly.
The little school book animal farm about communism exposes the tactics communist powers use and misinformation is at the top of the list.

25 posted on 12/03/2010 6:27:31 AM PST by kindred (Come, Lord Jesus, rule and reign over all thine enemies from Zion, the chosen nation.)
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To: MinorityRepublican

There was a thread a couple of days ago that indicated some companies were already laying off seasonal temp workers they had hired for the holiday.

When other companies lay off the seasonal holiday workers, the January numbers may well push the UE to 10%-plus.

Of course, the Labor Dept can fanagle the numbers by including the holiday short-weeks and weather. After all, it did snow in the northwest.


26 posted on 12/03/2010 6:29:38 AM PST by TomGuy
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To: MinorityRepublican
The U.S. economy added fewer jobs than expected in November and the unemployment rate rose to its highest level since April, underlining the continued weakness in the labor market 17 months into the recovery.

Stop the NewSpeak train, I gotta get off.

Now rising unemployment is considered a recovery? How does that work?

Bastards! I suspect the actual rate is much higher than 9.8%. I reckon they figure 9.8% is as high as they can go without us getting out our pitchforks.

27 posted on 12/03/2010 6:30:02 AM PST by upchuck (When excerpting please use the entire 300 words we are allowed. No more one or two sentence posts!)
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To: expat_panama

Futures are down now after the report:

http://finance.yahoo.com/news/Futures-slide-after-payrolls-rb-3702273667.html;_ylt=AqoU8.m7vNm1jla.GpddVT27YWsA;_ylu=X3oDMTE1NWJyNnFhBHBvcwM0BHNlYwN0b3BTdG9yaWVzBHNsawNmdXR1cmVzc2xpZGU-?x=0&sec=topStories&pos=1&asset=&ccode=


28 posted on 12/03/2010 6:31:18 AM PST by Qbert
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To: Qbert

Yahoo, interesting. Google still hasn’t mentioned it...


29 posted on 12/03/2010 6:37:16 AM PST by expat_panama
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To: MinorityRepublican

Everyone in the United States could be out of work and the media, while the Democrats are in power, will still report: Unemployment held steady at 9.8 per cent.


30 posted on 12/03/2010 6:41:00 AM PST by sport
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To: lacrew
I missed Recovery Summer.

No problem...we're now in the Fall of Prosperity.

.

31 posted on 12/03/2010 6:41:31 AM PST by repentant_pundit ("Summer of Recovery" became "The Fall of Prosperity")
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To: MinorityRepublican

We need to take economic estimating and forcasts out of the hands of economists and turn it over to weathermen.


32 posted on 12/03/2010 6:44:06 AM PST by umgud
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To: repentant_pundit
No problem...we're now in the Fall of Prosperity.

Followed by the Winter of our discontent.
33 posted on 12/03/2010 6:48:50 AM PST by mmichaels1970
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To: John W

Yup. What really *was* unexpected to me was that they revised October’s numbers up (so that they’re better). Usually, they’re revised down, quietly.


34 posted on 12/03/2010 6:50:44 AM PST by wbill
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To: repentant_pundit

Followed by the Winter of Wipeout.


35 posted on 12/03/2010 6:50:52 AM PST by Perdogg (What Would Aqua Buddha do?)
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To: Rational Thought

“This figure includes retail hiring for the Holidays, underscoring just how terrible this number really is.”

Don’t seasonal adjustments smooth that out? Also, if the seasonal adjustment assumed more seasonal hiring than occurred, wouldn’t actual conditions be better than these figures show?


36 posted on 12/03/2010 6:52:53 AM PST by olrtex
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To: MinorityRepublican

“The U.S. economy added fewer jobs than expected”

The experts should be fired, they have worse numbers that weathermen.


37 posted on 12/03/2010 6:53:26 AM PST by Grunthor (I hope this one pleases you.)
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To: potlatch


9.8% UNEMPLOYMENT






CORRUPT-LYING-BASTARDS.GOV






38 posted on 12/03/2010 6:53:26 AM PST by devolve
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To: upchuck
The U.S. economy added fewer jobs than expected in November and the unemployment rate rose to its highest level since April, underlining the continued weakness in the labor market 17 months into the recovery.

The song "Oh!Susanna" contains less contradictions than this sentence.

39 posted on 12/03/2010 6:55:09 AM PST by Right Brother
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To: John W

Obviously they should be added to the unemployment rolls, but that would jack up the numbers again.


40 posted on 12/03/2010 6:55:09 AM PST by SouthTexas (WE are the Wave)
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To: umgud
Well the heads are exploding over at DU also. They are lamenting this rise, that it will put a kibosh on their schemes and plans at further world domination. They are bemoaning the fact that “Corporate America” will be making a comback after the last remnants of Obamas’s testicles are removed in January with a new incoming Congress. I just love watching the whole freaking thing crumbling, the whole ponzi scheme that is entitlement America being destroyed. Where is my “V” mask? All due respect to Glenn Beck but riots and violence are coming and the streets will be filled with blood, hopefully more of the urban terrorists, union thugs, gays and leftists college kids than our side. Austerity measures are coming as inflation explodes and the economy goes further south that 1933. Tribulation is coming.
41 posted on 12/03/2010 6:57:01 AM PST by pburgh01
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To: garbanzo

“Economists surveyed by Dow Jones Newswires...”

Economists receieveing Federal Gov’mt grant monies....


42 posted on 12/03/2010 6:57:24 AM PST by mo
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To: John W

Unexpected? Hic!

My liver can’t take it...


43 posted on 12/03/2010 6:59:51 AM PST by Hoosier Catholic Momma (Arkansas resident of Hoosier upbringing--Yankee with a southern twang)
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To: MinorityRepublican

how UNEXPECTED!!!!

Everyone drink!

*hick*


44 posted on 12/03/2010 7:00:19 AM PST by TexasFreeper2009 (Obama = Epic Fail)
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To: olrtex
Here's what I've found so far pertaining to seasonal hiring;

Employment in the private service-providing sector rose 65,000 in November, though retail hiring fell a surprising 28,100 despite expectations of a busy holiday season.

http://www.cnbc.com/id/40489270

45 posted on 12/03/2010 7:00:58 AM PST by Rational Thought
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To: mmichaels1970

Lets at least hope Obama can get a book deal after 2012...


46 posted on 12/03/2010 7:01:54 AM PST by mandaladon
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To: kindred

“This obamantion administration is using the tactics all communist nations do by controlling the numbers reported using the communist controlled media, mostly stupid overpaid liberals who are not worth watching or hearing from at all as they are boring and lying regularly.”

Can you point to any evidence that the Obama administration is calculating unemployment any differently than did the Bush ‘43 administration? What should the numbers be? And if you do not know, why are you so certain they are wrong?

There are indeed many “stupid...liberals,” as you say. There are also a fair number of stupid conservatives, or at least stupid people who think of themselves as conservatives.


47 posted on 12/03/2010 7:03:07 AM PST by olrtex
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To: MinorityRepublican

9.8% unemployment my butt. It is well into the teens. Is there anybody out there who has had the patience and knowledge to actually track these numbers. I tried, but the baselines keep changing so I gave up. Perhaps the best thing to do is go back to the unemployment baselines that were in effect during W’s tenure.

Anybody have any suggestions?


48 posted on 12/03/2010 7:06:14 AM PST by dools0007world
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To: xzins

Spokesb***h?


49 posted on 12/03/2010 7:06:35 AM PST by MortMan (To Obama "Kill them all and let [God] sort them out" is an abortion slogan.)
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To: TexasFreeper2009

GMTA!!! LOL


50 posted on 12/03/2010 7:06:44 AM PST by Hoosier Catholic Momma (Arkansas resident of Hoosier upbringing--Yankee with a southern twang)
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