Posted on 12/05/2014 6:54:03 AM PST by SeekAndFind
WASHINGTON - A burst of U.S. hiring in November — the most in nearly three years — added 321,000 jobs and provided the latest evidence that the United States is outperforming other economies throughout the developed world.
In addition, the government said Friday that 44,000 more jobs were added in September and October combined than it had previously estimated. Job gains have averaged 241,000 a month this year, putting 2014 on track to be the strongest year for hiring since 1999.
The unemployment rate remained at a six-year low of 5.8 percent.
November's robust job growth, reflecting a steadily rising economy, could make it likelier that the Federal Reserve will start raising interest rates by mid-2015 as many economists have speculated. The Fed has kept its key short-term rate at a record low near zero since 2008 to support the economy.
The job gains last month coincided with a sharp increase in workers' pay. The average hourly wage rose 9 cents to $24.66, the biggest gain in 17 months. Still, over the past 12 months, hourly pay has risen just 2.1 percent, barely above the 1.7 percent inflation rate.
Hiring last month was broad-based but was particularly concentrated in retail, temporary services and transportation and warehousing. Those increases likely reflect seasonal hiring for the holiday season. Shipping companies have announced ambitious plans: UPS has said it expects to add up to 95,000 seasonal workers, up from 85,000 last year. FedEx plans to hire 50,000, up from 40,000.
(Excerpt) Read more at caller.com ...
The fly in the ointment:
http://www.cnsnews.com/news/article/ali-meyer/labor-force-participation-remains-36-year-low-0
Labor Force Participation Remains at 36-Year Low
EXCERPT:
The labor force participation rate remained at a 36-year low of 62.8 percent in November, according to the Bureau of Labor Statistics.
The participation rate, which is the percentage of the civilian noninstitutional population who participated in the labor force by either having a job during the month or actively seeking one, was 62.8 percent in November which matches the percentage since March 1978.
In November, according to BLS, the nation’s civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, reached 248,844,000. Of those, 156,397,000 participated in the labor force by either holding a job or actively seeking one.
The 156,397,000 who participated in the labor force was 62.8 percent of the 248,844,000 civilian noninsttutional population, which matches the 62.8 percent rate in April, May, June, August and October of 2014 as well as the participation rate in March of 1978. The participation rate hit its lowest level of 62.7 percent in September 2014.
Another 92,447,000 people did not participate in the labor force.
How many were part-time, seasonal hires?
Humm….GOP wins in a landslide on Nov. 3. Businesses start hiring again. Guess that is the GOP Rally….but CNBC and Bloomberg will never admit it, just as they never admitted that the 750,000+ hike in the unemployment rate in January 2009 was caused by the dismal prospect of Obama, the first Marxist, becoming President. The truth hurts the Democrat media too much to mention these obvious consequences of Obama’s failure.
Or companies turning one full time job into two part time jobs?
I’m glad people are working, but my gut tells me this is seasonal work..
How many were part-time, seasonal hires?
Half. Obama lies.
I was thinking the same thing. How many of these new workers are temps who were hired just to get the companies through the holiday season? With many companies, hiring temps this time of year is much cheaper than paying their regular workers overtime. And with temps you don’t have to give them benefits or deal with Obamacare.
The real problem with that labor participation rate is that they are counting people for every job they hold. If a person holds two part-time job that’s counted as two jobs. They are NOT counting individuals just once.
Also, we had 67 million people with salaried full-time jobs before 2008. We now have about 27 million. The rest are part-time jobs.
The latest BLS propaganda shows 104,069 “Full-time 35 hours or more” workers and only 27,615 part-time workers with 11,459 unemployed.
The BLS claims unemployment at 5.6%, yet, their own numbers say 8.7%.
This is all such manipulated BS.
In another report, the E13 table, the BLS shows 119,934 “Full-time workers”.
So in the previous report the BLS states 104,069 “Full-time workers” but in this report they state 119,934 “Full-time workers”.
They can’t even keep their story straight.
Whatever, as long as they raise interest rates on FDIC insured savings.
Source?
“The average hourly wage rose 9 cents to $24.66”
In what universe?
“Those increases likely reflect seasonal hiring for the holiday season. Shipping companies have announced ambitious plans: UPS has said it expects to add up to 95,000 seasonal workers, up from 85,000 last year. FedEx plans to hire 50,000, up from 40,000.”
And seasonal jobs/part-time jobs are something to celebrate?
Also remember payroll added as no relationship to the household survey. Payroll added does not mean someone was hired. And don't get me started on the household survey- most economist are even embarrassed to explained the method at any seminar I have attended.
BLS. Go search. Easy to find.
With Obamacare, it’s ALL ABOUT the “29ers”
When did it become the government’s job to ensure jobs...
KYPD
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