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%.
With face lifts and botox!!!
How are you?
(And I’m glad I didn’t offend)
A lot of us called it, that last months election numbers were false as these numbers now are much worse, showing the real pattern. Funny how the unemployment rate magically stayed still in the report right before the election. And now after the election the unemployment rate goes up and the jobs created are much less than the fake election report. funny how that is isn’t it?
FAIL!
No offense intended....none taken.
Doing well, MM.
Most people don’t improve with either age or botox. Pelosi strikes out on both.
I think you are overstating the bad news, which need not be overstated to be really bad.
The SGS Alternate, which is the only number that approaches your 22.5% unemployment, includes “SGS-estimated long-term discouraged workers.” So, there is little or no data to support the addition to the U-6 number. More importantly, it is not at all clear that “long-term discouraged workers” means much more than slackers who have found a way to live without working. Such folks may be unproductive and may even be leeches, but not because of the economy.
I suggest sticking with the U-6 number. It is horrible, and using it avoids the plausible charge of overstating unemployment for political purposes. No exaggeration is needed to demonstrate that Obama is a Category 5 disaster.
I bet the Jews in Berlin made the same snarky comments to their fellow Germans in 1932. "Oy Irving why are you being such a hysteric...."
The left solution
Extend unemployment till 2019 and raise taxes.
You’re just not “intellectually liberal” enough to understand it, that’s all. /sarc.
“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.
Yeah this is VERY scary, and portends even worse employment figures in January when the holiday seasonal employess (to the extent that there are any at all) are let go.”
The drop in retail hiring is scary, I suppose; but I am not so sure that it “portends even worse employment figures in January.” How do seasonal adjustments affect the numbers? If seasonal adjustments for November assumed higher seasonal employment than actually occcurred, then it seems like the 9.8% figure might overstate the actual situation, doesn’t it?
Also, don’t some month’s figures adjust for all previously “incorrect” seasonal adjustments?
Take 3 trillion dollars out of an economy and give it to your bank buddies and unions gangsters and you almost have to expect a moribund economy
“Take 3 trillion dollars out of an economy and give it to your bank buddies and unions gangsters and you almost have to expect a moribund economy.”
Then scare the c#%$ out of all producers by playing favorites, bullying, telling them they are bad guys, and creating severe uncertainty as to taxes and regulations, and you really should expect a moribund economy.
Oh. You hadn't heard? They declared that the recession was over in June 2009
FoxNews Alert:
Deficit Plan fails to get necessary 14 votes.
I’ve suspected for a long time that the jobless rate is actually worse but they don’t want to say it is over 10% for political purposes. Even admitting that it rose again has to be chilling with regard to the actual problem.
Surprise! I just heard on CNN (I like to know what the left is up to) that Osambama was scheduled to talk about the jobs report, but has instead flown to Afghanistan. I’m shocked!
Also the GDP numbers are susposed to be corrected for inflation but I seriouly doubt that since gov seems to think there is no inflation.
Yesterday I read where economists were predicting an increase in the market by 18% next year.
Invest heavily in the S&P derivatives and they SWEAR you too can pull down an 18% return on your investment.
Bullsh*t.
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