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Posted on 11/04/2011 6:27:27 AM PDT by frogjerk
Hiring slowed in October as employers faced more uncertainty over future economic growth.
The Labor Department says the economy added 80,000 jobs last month, the fewest in four months and below September's revised total of 158,000. The unemployment rate dipped to 9 percent.
Businesses added 104,000 jobs, below September's total. Government shed 24,000 jobs.
The report included some positive signs. The government revised August and September's figures upward by 102,000. Average hourly earnings rose. And the unemployment rate fell for the first time since July, because a separate survey of households showed more people found work.
The report suggests that President Obama will likely face the voters with the highest unemployment rate of any postwar president
(Excerpt) Read more at foxnews.com ...
FUBO GTFO! 443 Days until Noon Jan 20, 2013
Yes this is partime Christmas hiring just like every year. They will all get laid off in Jan.
This is always interesting. Although the economy is creating minimal jobs, there is still the issue of people not finding work. Factors include:
1.) Generous Unemployment benefits.. this is debated as to the impact, but there is some impact
2.) Young People not socially equipped for the job market..
3.) Semi-motivated older workers approaching retirement
4.) Mid-aged trade or trained worker not willing to relocate (auto workers not going south);
5.) Lack of advance technological PC skills. (people know word, excel, but lack database, analytics)
Here’s the missing element in today’s “good news” about unemployment. Along with the birth/death adjustment, the Labor Department also “removes” workers who’ve been unemployed for a long period of time, even if they’re still searching for a job. So, that raises the question of how many long-term unemployed were dropped from the labor force in October to help facilitate the 85,000 job gain.
According to Reuters, the U.S. labor market has shrunk by about 3 million since the Anointed One took office. And clearly, not all of those workers have retired or passed away; many were just statistically eliminated from the tally because they’ve been out of work for so long. Consequently, the real unemployment rate is well above 10%, when you include the long-term jobless who’ve been out of work for a couple of years, but are no longer counted by the government.
Expect all sort of math tricks with the unemployment numbers in the months ahead. Remember: the point at which the long-term unemployed are no longer counted in the labor force is an arbitrary timeline, determined by the government. Why not move it up by a few months, shrink the labor force even more and make any job gains look even better?
At that rate, unemployment will be around 8% by election time. Will that be acceptable to the electorate? We already know that number would be touted by liberals and media alike as "great progress".
“Of course they don’t mention that its also almost all SEASONAL HIRING jobs for the Christmas shopping spike!”
We have a winner!
Part time (maybe full time) seasonal, minimum wage retail employment. Stores that offer employee discounts...If one spends more in the store on Christmas purchases than what one makes..The seasonal employee is left in debt.
LOL! "No one will hire me. What's wrong with all of them?"
Guy in the middle, I'd maybe think about. At least he's shaved recently and is wearing a shirt with a collar. But frankly, none of them are dressed to go job hunting.
This is bogus, IMO.
Average of 400,000 per week are filing NEW claims.
That is over 1,600,000 per month filing new claims.
80,000 ‘new jobs’ === 5% of those filing new claims in OCt.
The filing new claims group has held at about 400,000 since Jan 1, when I started recording those numbers.
400,000 x 43 weeks ==17,200,000 NEW CLAIMS.
Monthly new jobs have been in the area of 100,000. That is 1,200,000 new jobs for the whole year.
That leaves a difference of 16 million new claims for jobs lost.
How can the percentage GO DOWN???
This is bogus from the administration. They re trying to make the voters believe that things are getting better.
At the same time, illegals filling American jobs are still here, blocking Americans from taking those jobs.
Keep in mind that self-employed people cannot even file for unemployment. There are millions of such people who are out of work or underemployed.
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