Forward? Number of Unemployed Increases By 170k Offsetting 171k Increase in Non Farm Payrolls

Confounded interest ^ | 11/02/2012 | Anthony B. Sanders

[whitedog57]

According to the Bureau of Labor Statistics, the unemployment rate rose from 7.8% to 7.9% for October.

The number of unemployed in the US rose from 12,088,000 in September to 12,258,000 in October. An increase of 170,000. That almost perfectly offsets the increase in non farm payrolls (+171,000).

And the duration of unemployment 27 weeks and over rose to 40.6%.

The employment to population ratio rose in October to 58.8, but still remains at a level near the beginning of the “Reagan Recovery.”

The unemployment rate among blacks/African Americans rose to 14.30%. There will be no joy in the Black/African American community over this pitiful unemployment rate.

On the wage front, changes in hourly earnings rose 1.6% (Year over Year), far below the Bush years. In fact, the rate fell in 2009 and has remained in the doldrums since.

[whitedog57]

This is progress??????

[rurgan]

Fox news radio is spinning this as “jobs grew more than expected” when the truth is even the fake reported 170,000 “created jobs” is not enough to keep up with population growth nor to show an improving economy as 300,000 new jobs are needed. But this 170,000 is fake anyway (it's from the BLS) to be revised or faked later after the election. And this is from FOX radio. And people say FOX is conservative.

[Buckeye McFrog]

Looks to me like 170,000 people just jumped back into the job market in anticipation of a Romney win.