Skip to comments.Jobs Surged Last Month in Rebound From Storm ----December 3,2005
Posted on 12/07/2012 1:07:49 AM PST by granada
The nation's employers added 215,000 jobs last month, the government reported yesterday, as the economy rebounded from the devastating impact of Hurricane Katrina.
The strong November number, the biggest monthly increase since July, suggested that employers are scrambling for workers in response to a strongly growing economy. But on the fourth anniversary of the recovery from the 2001 recession, job growth is still below the levels achieved in previous recoveries, and the unemployment rate has been stuck at 5 percent nearly every month since June.
"We're back on track after the ill effects of the hurricanes," said Mark Zandi, chief economist at Economy.com, referring to Wilma, which hit southern Florida in late October, as well as Katrina in late August. "But it is also fair to conclude that global competition and corporate layoffs are weighing on job growth."
In releasing the employment data for November, the Bureau of Labor Statistics reported that at least 900,000 people age 16 or older - one-third of them black - evacuated in August because of Hurricane Katrina and that half had returned by last month. Most apparently came back to jobs.
The unemployment rate among the returnees was 12.5 percent, while 27.8 percent of those still living elsewhere were unemployed. Hundreds of thousands of other evacuees simply dropped out of the labor force, not even seeking a job, which is necessary to be listed as unemployed.
(Excerpt) Read more at nytimes.com ...
Awesome! Love the quote “unemployment has been stuck at 5% since June.” Boy, those we’re the days.
*we’re=were. Stupid iPad.
Now an accurate prediction is even more rare. When did that last happen?
Hope everyone posts this on their facebook page!!!
...unemployment rate has been STUCK at 5 percent???????????????
Yeah, 5 percent, and then some.... The some being about three more percentage points if you believe the hussein administration. (snort) and plus about another five if you believe your eyes and some independent analysis... But there is five percent buried in there somewhere... :)
Obama Lapdog Media translation:
5 percent unemployment under Bush = the new Great Depression
8 percent unemployment under Obama = Happy Days are Here Again!
This article is priceless. Makes the so-called journalists look like the stupid Obama kool aid drinking a holes they are. One can only hope that Obama’s policies have a direct and personal impact on every single one of them.
My, my. No bias there. Now under the glorious leadership of Obama, the NYT reports how wonderful everything is at almost 8 percent (fudged number) unemployment.
It’s a whole different tone, isn’t it?
It even mentions that low gasoline prices helped the economy...