Skip to comments.Economy Added Fewer Jobs Than Expected in November [unemployment rate: 9.8%]
Posted on 12/03/2010 5:48:02 AM PST by MinorityRepublicanEdited on 12/03/2010 6:00:23 AM PST by Admin Moderator. [history]
WASHINGTONThe 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%.
17 months into WHAT recovery?
I got a plan. Let’s raise taxes. Pelosi....the gift that keeps on giving. Please...please...please dems elect her speaker again. Please!!
Wisdom of crowds...
You don't mean speaker.
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.
Shepard Smith wept.
Whomever is doing the estimating and predicting in this area is incompetent.
I missed Recovery Summer.
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.”
Per seasonally adjusted household data:
Civilian Labor Force: +203,000
No kidding. Wasn’t he just crowing yesterday about some report that stated everything was improving....slowly but still improving?
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 ...
Thereby demonstrating the value of consensus. I don't s'pose anyone asked Algore what he thought the jobless rate would be?
Translation: We have no idea what we are doing or what the hell is going on.
Barry, you’re doing a heck of a job.
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!