Unemployment Falls to 8.5%; 200,000 New Jobs Created

CNBC ^ | 01/06/2012 | Jeff Cox

[Rational Thought]

The U.S. unemployment rate unexpectedly fell to 8.5 percent last month as job creation was more robust than expected, providing continued signs that the nation's labor market is improving gradually.

Growth in manufacturing jobs helped offset loss in government positions, while wages edged higher and the length of the work week also lengthened a bit.

The unemployment rate — a hotly contested number because of the rise in potential workers who have quit looking for jobs — has fallen 0.6 percentage points since August.

Economists had been looking for a number in the 175,000 range as both Wall Street and Main Street search for signs that the labor market is thawing. November saw a gain of 120,000 jobs and an unexpected fall in the unemployment rate from 9.0 percent to 8.6 percent.

[Rational Thought]

From JimPethokoukis via Twitter;

10.9%: The unemployment rate (U-3) if the size of US workforce was the same as when Obama took office

Note the Civillian Workforce was down another 50,000 in December, and all this with seasonal holiday hiring also aiding these numbers.

[FrdmLvr]

In addition to those on unemployment, they also need to count those applying for welfare, and have left the unemployment rolls.

[Recovering_Democrat]

All Praise Our Messiah, Hussein!

[duckman]

For some reason, I knew the numbers would come down as soon as the election was getting closer.

[JNRoberts]

I think the economy is turning around. Here in Frisco Texas, the IN N OUT Burger has a big sign on their window.......”Now Hiring.”

On a sidenote, next time I want a burger, we’re going to Five Guys just down the street on Preston. I mean we can’t eat at IN N OUT EVERY FREAKING TIME we want a burger right?

[Halfmanhalfamazing]

URGH

UNEXPECTEDLY!!!!

[cuban leaf]

—For some reason, I knew the numbers would come down as soon as the election was getting closer.—

I think they are too smart by half. Timing is everything and time eventually exposes bogus numbers. They can’t fake this indefinitely. I think this year will be much more “interesting” than last year, by an order or two of magnitude.

I still believe Obama will not complete his first term.

[GnL]

More B.S. from Obamalama’s Ministry of Truth.

[cuban leaf]

I just left T-Mobile a few months ago. One of our large centers is in Frisco.

[ZULU]

# 1 - Last Month figures reflect Christmas hiring.

# 2 - Never underestimate the ability of an administration to “cook the books” of an agency it directs.

[Leep]

Obama the Magician.

[fhayek]

Geez, you would think that with this red hot economy, people would actually return to the labor market. But what do I know?

[Jack of all Trades]

40,000+ Are temporary jobs due to the holiday shipping rush. Labor force participation still around 64%, lowest since 1984.

Obviously, Happy Days are here again!

[Harley]

Obama’s number crunchers should have the unemployment numer down to 4.2% by election day. Just stop counting those pesky old job seekers.

[RobertClark]

Morgan Stanley's David Greenlaw reports, 42,000 of the 200,000 is basically a seasonal quirk, which will be given back next month, meaning the true adjusted number is 158,000, essentially right on top of the expectation. From David Greenlaw: "some of the strength in this report should be discounted because of an seasonal quirk in the courier category of payrolls (Fed-ex, UPS, etc). Jobs in this sector jumped 42,000 in December, repeating a pattern seen in 2009 and 2010. We should see a payback in next month's report."

The spin machine is trying to insure that no bad numbers be released during Ozero's re-election campaign:

-Labor force participation at a 27 year low of 64%????

-Persons not in the labor force have increased 7.5 million since 2007???

[FiddlePig]

Seeing the unemployment rate decreasing???...I’m tempted to nominate Obama, Democrats and the toadie media for the Pulizer prize for fiction.

I proclaim... the unemployment rate is dropping? So why do so few have a job? BEEE EESSS!

[FiddlePig]

Seeing the unemployment rate decreasing???...I’m tempted to nominate Obama, Democrats and the toadie media for the Pulizer prize for fiction.

I proclaim... the unemployment rate is dropping? So why do so few have a job? BEEE EESSS!

[Springman]

Things must be getting better out there. When I got laid off last month, I had to update my resume at the Michigan (doesn’t) Works office.

I only had to park in the back of the lot. I didn’t have to go into the overflow lot.

Blessings to our savior Obama!!!! /s

[JNRoberts]

If you were laid off, sorry to hear that. If you left for another opportunity, congrats.

I Just renewed with T Mobile and got the Samsung Galaxy S2. Wow....what a phone! Love it.