Posted on 12/02/2011 5:53:03 AM PST by The_Victor
Job creation remained weak in the U.S. during November, with just 120,000 new positions created, though the unemployment rate slid to 8.6 percent, a government report showed Friday.
The rate fell from the previous month's 9.0 percent, which would reflect a drop in the participation rate among those without jobs.
Average earnings were essentially flat, up two cents to $23.18 an hour. Private payrolls increased 140,000, considerably less than a report earlier this week showing that nongovernment jobs were up by more than 200,000 for the month.
(Excerpt) Read more at cnbc.com ...
Why did so many stop looking? I have a theory.
I have been unemployed for 6 months, and lately they have been touting that if you have a college degree the rate is only 4.2%. Thats bull. I have a college degree, and this has been a horrible market to try to find a job in ... and those numbers depressed me incredibly. It made me feel as if I was extremely incompetent because I should not be having a hard time finding a job. I think throwing that false statistic out is what drove a lot of people out of looking for a job.
In the second paragraph of the article is says that 315,000 dropped out of the labor force - in other words, they gave up. That is what caused the drop in the official unemployment rate. Now, what do I think - did those people stop looking for work because they a.) inherited millions and no longer need to work; b.) got such big dividends from their stock portfolios they no longer need to work; c.) hit the lotto, big time or d.) give up because there are no damn jobs.
Bing, bing, bing - survey says: D.
So we had 400K NEW unemployment claims, 315K drop out of the work force, and 120K in new jobs entering the holiday season - by my math that means there were more than 3 times as many NEW unemployment claims as there were new jobs created as we enter the holiday season. Ho-Ho-Ho!
That ain't my idea of a recovery.
Yes, that's what I think, too.
Wall Street would appear to be much less impressed with this news than they were the other day with the order to speed up the money printing presses.
I wonder how Obama is going to manage delay of the release of the SSA Trustee's report (it was in August this year), which will undoubtedly show that the reduced revenues from the payroll tax have significantly moved up the date by which the SSA "Trust Fund" runs out of money.
Of course, the fix is in - of the 6 member board, 3 are from Obama's cabinet (Geithner, Solis and Sebelius). Since the Commissioner is Astrue (who Obama reportedly asked to resign, but refused), the President has apparently not appointed anyone for the 2 "Public Trustees" positions, so he can control the board with only his private lapdogs. I guess the risk that 2 public trustees might join with Astrue to tell the public the truth is too great to chance.
“Businesses are taking Help Wanted signs out of their windows”
A buddy runs a couple of SuperK’s in the Indy area.
Put an ad on Craig’s list Monday for a min wage part-time midnights/weekends position, and within MINUTES already had people filling out apps. By the end of the day, he had over 200 applications.
As late as summer 2009, he would be filling the slot with over-time, because no one wanted the job.
This is blatantly manipulated data, but it’s the MEME that’s important, not the facts.
Anyone notice that BLACK UNEMPLOYMENT WENT UP, from 15.1%, to 15.5%??
Methinks they conveniently “forgot” the 2 in front of that 8 = 28.6%.
Anytime they open their mouths, they’re lying...
IF anyone believes anything this bunch says, they’re crazy.
This fudge stain on the panties of Lady Liberty needs to be washed out. November 2012 can’t get here fast enough.
Boehner’s response was wussie!!!!
Remember something...
You are dealing with people in the White Hut, who HONESTLY BELIEVE that nothing matters but THE MEME.
If THE MEME is properly pushed, REALITY SIMPLY DOES NOT MATTER!
Thanks for the summary Deo Valente. I would love to see all the people who have given up looking, form some sort of group so their numbers could be known. This smoke and mirrors routine that ignores them is rotten.
That is the reason the unemployment rate did drop, reported on FOX this AM.
For the second month the labor force rose. This is a welcome sign. However, were it not for people dropping out of the labor force for the past two years, the unemployment rate would be well over 11%
Ready for some fuzzy math? For over 5 months, new jobless claims have been over 400,000 each week....except one (388 K). That is a record, my friends. Yet, somehow, someway, the unemployment rate magically dropped from 9% to 8.6. Sure, there is always some new hiring before Christmas, but one, it’s still almost a month until this sacred celebration, and two, most businesses avoid expanding their workforce during tough economic times in order to maximize profits. Call me crazy, but I smell a rat. This administration has been caught flubbing the numbers before by ordering various agencies to conceal the truth for the sake of manipulating public opinion. I’m all for Americans going back to work, absolutely. However, what i’m not for is a deceitful and incompetent leader, aided by his marxist media machine, claiming they are restoring our economy when they are the greatest source of our ills. Liberals will go to any lengths to dupe the public in order to protect their messiah, Barack Hussein Obama, instead of honoring the one that is our only true savior. America’s loyal citizens, who will go without this holiday season, deserve better.
This is because 315,000 people "left the labor force", (quit looking for work?). Add them, and the unemployment rate went UP.
AND Nancy Pelosi touting it!
We didn't have a government built electric car to show for anything before 0bama however.
And just think of the maintenance jobs that will need to be filled when the Volt sales truly take off. LOL!
I don’t claim to be a great mathematician, but 120,000 “new jobs” out of a pool of approximately 15 million Americans, works out to a grand total of a 0.008% increase in employment.
How exactly is that a headline? This government is propagandizing this economy much in the same way the Soviet Union used to, and we made fun of them for it.
Well the article doesn't seem to mention the over 300,000 People who went of the unemployment roles because they "gave-up" looking for work.
And in the couple months leading up to the next election, that figure will be "rounded down" to 8% by the MSM........
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