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Economy Creates 120,000 Jobs, Rate Tumbles to 8.6%
CNBC ^ | 12-2-2011 | Jeff Cox

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 ...


TOPICS: Breaking News; Business/Economy; News/Current Events
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Oh for the days of 4.8% unemployment, which the MSM touted as the worst economy since the Great Depression.
1 posted on 12/02/2011 5:53:05 AM PST by The_Victor
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To: The_Victor

These numbers are not to be trusted.


2 posted on 12/02/2011 5:54:50 AM PST by JPJones (Frodo Lives!)
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To: The_Victor

Economy creates 120,000 jobs — most of them seasonal jobs. Just wait and see what the unemployment rate will be AFTER the holidays.


3 posted on 12/02/2011 5:55:10 AM PST by LottieDah (If only those who speak so eloquently on behalf of animals would do so on behalf of the unborn.)
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To: The_Victor

The number of people who quit looking for work must have increased significantly if only 120K jobs were created and unemployment rate dropped that much.


4 posted on 12/02/2011 5:55:10 AM PST by scbison
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To: The_Victor

Sounds like it’s one of those “seasonally adjusted” things.


5 posted on 12/02/2011 5:55:37 AM PST by FlingWingFlyer (Stop BIG Government Greed Now!!!!)
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To: The_Victor

“The rate fell from the previous month’s 9.0 percent, which would reflect a drop in the participation rate among those without jobs.”

But let’s tout 8.6% (to be revised up in Jan) anyway.

I’m sure people wont notice the reality around them. /s


6 posted on 12/02/2011 5:55:50 AM PST by VanDeKoik (1 million in stimulus dollars paid for this tagline!)
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To: The_Victor

ROFL

yeah right !

our government is LYING to us!


7 posted on 12/02/2011 5:56:43 AM PST by TexasFreeper2009 (Newt Gingrich 2012!)
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To: The_Victor

These are not the jobs you’re looking for....


8 posted on 12/02/2011 5:56:58 AM PST by neodad
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To: JPJones

“These numbers are not to be trusted.”

I doubt anyone, other than MSNBC, will look at this as anything more than BS.


9 posted on 12/02/2011 5:57:55 AM PST by VanDeKoik (1 million in stimulus dollars paid for this tagline!)
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To: The_Victor

140,000 jobs, which will be downgraded next week, reflects a 0.4% decrease in the unemployment rate?


10 posted on 12/02/2011 5:58:01 AM PST by RS_Rider (I hate Illinois Nazis)
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To: The_Victor

And so, with only 11 months to the election, the massaging of the numbers begins in earnest...

I’m kind of surprised the BLS is posting such a drop from last month in the unemployment rate. One would think the drops would be more incremental to appear credible.


11 posted on 12/02/2011 5:58:17 AM PST by ScottinVA (I miss America.)
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To: JPJones

“These numbers are not to be trusted.”

Agree, and then there was the report yesterday about unemployment up, and back over the 400,000 mark again.

I’m with you. I call BS on this one.


12 posted on 12/02/2011 5:58:45 AM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: FlingWingFlyer

Sounds like it’s one of those “seasonally adjusted” things.

Yeah, “election season.”


13 posted on 12/02/2011 5:58:55 AM PST by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
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To: neodad; All

I saw on Drudge that 315000 Americans left the work force..


14 posted on 12/02/2011 5:59:01 AM PST by KevinDavis (The History of Christmas: http://www.thehistoryofchristmas.com/)
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To: LottieDah
Economy creates 120,000 jobs — most of them seasonal jobs. Just wait and see what the unemployment rate will be AFTER the holidays.

The actual numbers don't matter; only favorable numbers will be reported.

15 posted on 12/02/2011 5:59:08 AM PST by TonyInOhio (Ohio's four seasons: Rain, Snow, Rain & Snow, and Humid)
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To: The_Victor

8.6%...a 0.4% drop?

For the last three months, the weekly unemployment claims have consistently been near 400K (except for two weeks, which were still over 385K) and only 120K jobs were created, BUT that equals a .4% drop in the unemployment number?

The ONLY way this number has dropped that much is if a VERY LARGE portion of job seekers have simply STOPPED LOOKING!!


16 posted on 12/02/2011 5:59:53 AM PST by ExTxMarine (PRAYER: It's the only HOPE for real CHANGE in America!)
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To: JPJones
But market futures are up big on the news! Of course, the financial markets move on news of a fart in the wind...

Mike

17 posted on 12/02/2011 6:00:28 AM PST by MichaelP (The ultimate result of shielding men from the effects of folly is to fill the world with fools ~HS)
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To: The_Victor

Christmas surge in hiring - will drop again after the Holidays.


18 posted on 12/02/2011 6:01:25 AM PST by ZULU (Anybody but Romney or Huntsman)
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To: The_Victor

Imagine when jobs are really created after this Bozo is gone. The way they manipulate the figures now, they’ll have to say unemployment is zero. That’ll never happen, however.


19 posted on 12/02/2011 6:01:26 AM PST by edpc (Wilby 2012)
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To: JPJones

You are correct. Just as we use a bogus method to justify spending with baseline budgeting, we also use bogus methods to calculate unemployment rates.


20 posted on 12/02/2011 6:01:30 AM PST by Eagle of Liberty (Shaking My Head on a daily basis)
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To: The_Victor

So then why are income tax receipts down 50%?


21 posted on 12/02/2011 6:03:00 AM PST by GilGil
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To: The_Victor
It's the holiday season. Stores, restaurants, always hire extra help.
This will change after the new year.
In fact, I think it'll get worse than 9%. Businesses are pinning their hopes on Europe, but Europe is toast without serious austerity measures. Right now, they're just buying time. It's going to run out, just like ours. If we don't cut back on social programs soon ourselves, there will be a problem. A nation can't survive on freeloading alone.

The politicians, world wide, don't want to have to deal with all this, so they don't. They know they can always hop on a plane and get out of the country if they have to. Those left behind, the people, will have to sort it out themselves (afterwords, once the chaos is over, the politicians will come back to lead us once again - or so they think).

22 posted on 12/02/2011 6:03:24 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: ExTxMarine; scbison
The ONLY way this number has dropped that much is if a VERY LARGE portion of job seekers have simply STOPPED LOOKING!!

Workforce shrunk by 315,000 people that are no longer being counted as unemployed, according to a posting in another thread on the same subject.

23 posted on 12/02/2011 6:03:31 AM PST by justlurking (The only remedy for a bad guy with a gun is a good WOMAN (Sgt. Kimberly Munley) with a gun)
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To: KevinDavis

Some of that number is discouraged workers.

I would maintain, however, that some of that number is those whose benefits have run out who:

-decided to stay home with the kids
-started their own business, but are not “on the radar” yet.
-are happily working under the table
-are almost-retired and are marking time until social security kicks in.

Not ALL of these people are running around looking for jobs.
I think we all know some people who fit the above categories.


24 posted on 12/02/2011 6:03:43 AM PST by jaybee
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To: The_Victor

Holiday hiring. This happens every year.


25 posted on 12/02/2011 6:04:33 AM PST by Psycho_Bunny (Public employee unions are the barbarian hordes of our time.)
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To: RS_Rider
It takes 120,000 a month just to break even with new people entering the job market. There is no way it went down that much with a 20k net gain.
26 posted on 12/02/2011 6:04:53 AM PST by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: The_Victor

The only reason the unemployment rate fell so much was because roughly 315,000 people gave up looking for work and were no longer counted as unemployed.


27 posted on 12/02/2011 6:05:15 AM PST by BigSkyFreeper (You have entered an invalid birthday)
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To: scbison

Workforce participation dropped from 64.2% to 64%.


28 posted on 12/02/2011 6:07:23 AM PST by Roccus (POLITICIAN...............a four letter word spelled with ten letters.)
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To: neodad
Economy Creates 120,000 Jobs, Rate Tumbles to 8.6%

Back in the summer there were something like 200,000 jobs created and the rate didn't decrease at all. Now there's about half that amount of jobs created and the jobless rate decreased from 9 to 8.6%?
29 posted on 12/02/2011 6:07:30 AM PST by aruanan
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To: The_Victor

315,000 removed from the labor force.
Participation rate dropped from 64.2 to 64.0.
Birth and death model virtually adds in 883,000.


30 posted on 12/02/2011 6:07:51 AM PST by algernonpj (He who pays the piper . . .)
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To: justlurking

If Obama had some real advisers, he would be cautioned to not say much if anything about this ridiculous report.

The holes in logic in this thing are just too big to spin as a “recovery”.


31 posted on 12/02/2011 6:09:23 AM PST by VanDeKoik (1 million in stimulus dollars paid for this tagline!)
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To: justlurking; All

The U-6 (the rate that counts not only people without work seeking full-time employment (or the more familiar U-3 rate), but also counts “marginally attached workers and those working part-time for economic reasons.” Note that some of these part-time workers counted as employed by U-3 could be working as little as an hour a week. And the “marginally attached workers” include those who have gotten discouraged and stopped looking, but still want to work. The age considered for this calculation is 16 years and over) is over 16%. http://portalseven.com/employment/unemployment_rate_u6.jsp


32 posted on 12/02/2011 6:09:35 AM PST by BigSkyFreeper (You have entered an invalid birthday)
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To: Eagle of Liberty
You are correct. Just as we use a bogus method to justify spending with baseline budgeting, we also use bogus methods to calculate unemployment rates.

And inflation numbers - food and gas don't count, even though we need those things the most. "Food has become totally unaffordable, and people have no gas to get to work, but don't worry about it. Things are looking great!"

33 posted on 12/02/2011 6:09:56 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: MichaelP

But market futures are up big on the news! Of course, the financial markets move on news of a fart in the wind...

Futures were up long before that number was released. There has been scant up or down movement on the release as most know it is BS. The true number to look at is how many are working and that number has consistently been falling.


34 posted on 12/02/2011 6:10:39 AM PST by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: The_Victor

Wow. 8.6 is better, but needs to do better than that. Hopefully we are on the way back from the brink. Still must do something about the debt though.


35 posted on 12/02/2011 6:12:27 AM PST by napscoordinator (Anybody but Romney, Newt, Perry, Huntsman, Paul. Perry and Obama are 100 percent the same!!!!!)
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To: LottieDah

Most of those will be temporary jobs. Gone 2 days after Christmas.


36 posted on 12/02/2011 6:12:43 AM PST by dforest
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To: The_Victor

Seasonal jobs. Watch unemployment creep north of 9% in January and February.


37 posted on 12/02/2011 6:12:48 AM PST by SoJoCo
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To: The_Victor

Smoke and mirrors! Smoke and mirrors!


38 posted on 12/02/2011 6:13:18 AM PST by Bushbacker1 (I miss President Bush greatly! Palin in 2012! 2012 - The End Of An Error! (Oathkeeper))
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To: RS_Rider
"140,000 jobs, which will be downgraded next week, reflects a 0.4% decrease in the unemployment rate?"

Not exactly.

0.4 divided by 8.6 equals 4.65% decrease.

At that rate of decline, unemployment will be 0% in just about 20 months!

Isn't Obama wonderful?

39 posted on 12/02/2011 6:13:43 AM PST by eCSMaster (Democrats: the Party of NO!)
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To: The_Victor
The Obama fix is in.

Right before election watch 3 million suddenly drop from the rolls and decrease that number to 6%.

40 posted on 12/02/2011 6:14:06 AM PST by tobyhill (Obama, The Biggest Thief In American History)
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To: The_Victor

8.6% is actually a BAD sign. CNBC folks were hoping for an INCREASE to show that more people were actively seeking jobs. It is a shame that Americans don’t really know this number meaningless by itself.


41 posted on 12/02/2011 6:14:45 AM PST by montag813
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To: Beagle8U

zero will be doing a victory lap toting this lie to all of the gullible news readers for the next week.


42 posted on 12/02/2011 6:15:15 AM PST by RS_Rider (I hate Illinois Nazis)
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To: ExTxMarine

Close enough. The jobs aren’t even there to not look for any more. Businesses are taking Help Wanted signs out of their windows or deciding to hire 10 people instead of 15.


43 posted on 12/02/2011 6:15:30 AM PST by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: The_Victor

This entire discussion about unemployment is just so dishonest. The American people should be allowed to sue for fraud - how many people are making bad investment decisions off this data?

America is just becoming one big SCAM!


44 posted on 12/02/2011 6:16:35 AM PST by surfer (To err is human, to really foul things up takes a Democrat, don't expect the GOP to have the answer!)
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To: The_Victor

Be prepared for a revision to those numbers - an “unexpected” error was made, there were actually only 20,000 jobs created (if that).


45 posted on 12/02/2011 6:17:07 AM PST by rockabyebaby (We are sooooooooooooooooooooooooooooooooo screwed!)
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To: The_Victor

These unemployment numbers are, as Mr. Spock would probably say, “warm leavings from a male cow.”


46 posted on 12/02/2011 6:20:54 AM PST by DemforBush (A Repo man is *always* intense!)
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To: The_Victor
Please file this under category #3:

1. Lies

2. D@*% Lies

3. Government Statistics

47 posted on 12/02/2011 6:21:40 AM PST by OB1kNOb (The prudent see danger and take refuge, but the simple keep going and pay the penalty. - Prov 22:3)
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To: The_Victor
Economy Creates 120,000 Jobs, Rate Tumbles to 8.6%

Yay! Go Wall Street! Go big businesses! If it weren't for these two, who knows how bad all this would have gotten.

The democrats were obviously wrong about the job creators. It looks like the private sector saved the day, despite the democrats attempts to destroy it!

(The spin can go both ways)

48 posted on 12/02/2011 6:26:26 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: The_Victor

It’s the denominator ,stupid.


49 posted on 12/02/2011 6:30:07 AM PST by hecht (Murray use your coaster)
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To: ScottinVA

Go to www.shadowstats.com for better metrics on the economy. The BLS is not inaccurate per se, but their methods leave out all the people who want employment, but gave up looking, and they leave out underemployment.


50 posted on 12/02/2011 6:30:10 AM PST by uncommonsense (Conservatives believe what they see; Liberals see what they believe.)
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