Posted on 01/10/2014 5:42:52 AM PST by John W
Job creation stumbled in December, with the U.S. economy adding just 74,000 positions even as the Federal Reserve voted to take the first steps in eliminating its stimulus program.
The unemployment rate dropped to 6.7 percent, below economist estimates and due primarily to continued shrinkage in the labor force. The labor force participation rate tumbled to 62.8 percent, its worst level since January 1978.
(Excerpt) Read more at cnbc.com ...
Because more people are hoping in the wagon then pulling it.
The Fed stops buying U.S. debt and interest rates on our debt will go up. Interest rates rise and the economy slows (plus we will have pay a higher debt service payment on the national debt). I do not envy Janet Yellen one bit. She is in the corner, out of paint, and the door is on the far side of the room.
When there are only 500 people left in the labor force, and all of them have a job, the unemployment rate will be 0%, and Democrats will credit Obama’s economy. What a farce these numbers are.
“Labor force participation rate” is a statistical lie designed to shield the politicians from reaping the fruits of their “labors”.
My wife just quit her job here in central KY. It’s because it paid the going rate around here, less than ten bucks an hour, and I can make up for an entire week of her income in just a few hours of overtime. And this saves us all the expenses incurred by her working outside the home. And they are not just monetary. She quit the end of the year and already I feel like I got my wife back. Now she can work and plan the garden, likewise the future livestock, plan our new house, make custom dog food for our dog, you name it.
Both spouses working outside the home is a very expensive proposition.
http://www.zerohedge.com/news/2014-01-10/its-official-us-created-less-jobs-2013-2012
It’s Official: The US Created Less Jobs In 2013 Than 2012
The Fed spent over $1 trillion in 2013 (to push the stock market to all time highs) and all we got was... less jobs created than in 2012?
Quite possibily. Full Employment is reached when no one is working, thus the push for higher minimum wages and entending unemployment benefits - which as we all know increases jobs ... /s
This was not unexpected news. this is what the 5th unemployment extension fight is about. Reid and Obama want to paper over the fact the this is a jobless recovery.
here is a paragraph that explains what is going on
Senate Democrats on Thursday offered a new plan to revive federal unemployment benefits until mid-November and pay the $18 billion price tag with new spending cuts, but hopes of a bipartisan deal dissolved into bickering by day’s end.
“The package does what the Republicans wanted,” Senate Majority Leader Harry Reid, a Democrat, said on the Senate floor. He said the cost of renewing the jobless benefits for about 1.4 million long-term unemployed Americans would be “entirely paid for” and would contain “structural changes they (Republicans) were demanding.
Keeping these 1.4 million people who have exhausted their total 99 weeks of unemployment benefits, the longest in history only makes sense for Obama. It keeps these people off his back when he refused the Keystone XL pipeline, lowering CAP gains taxes, cutting the fed government.
Also, by coincidence 1.4 million more people lost jobs in the 5 Obama years, and unemployment benefits are Obama’s answer to growing the economy. I always thought only JOBS,
JOBS, JOBS grew the economy.
Not unexpected except apparently by the predicting economists noted in the headline.
Obamanomics is working! Spectacularly, even.
Exactly.
Looks like some of Holders people are happy navigators (HPN).....
HPN....OK whitey....lets check your voter registrations ....
HPN....Looks like you need to make a couple of adjustments here....
OK now I see it......your colonoscopy is scheduled for next month.....and the insulin will be mailed as before...
HPN Thinks...."this desk job sure beats stealing cell phones and a once a year gig patrolling voting booths with my billy club."
(He also got the message about hiding the screen image of his laptop)
That’s a great, concise way to discuss with people. Thanks.
I am just trying to figure out what really is happening with the job situation and the economy in general. Both sides have good numbers to point at. Visibly, there is recovery...construction, decent growth, etc. The job market has definitely stabilized. How good or bad is it? That’s what I am having a hard time grasping. Are we ‘okay, but not great’,on a slow steady road to recovery, or mired in a long term ‘bottom’ with only growth to reflect natural population and economic expansion and monetary policy. It’s hard to tell.
....maybe he knows he is getting screwed...
U.S. job growth weakest in three years, weather a factor Reuters By Lucia Mutikani | Reuters – 45 mins ago
WASHINGTON (Reuters) - U.S. employers hired the fewest workers in almost three years in December, but the setback was likely to be temporary amid signs that cold weather conditions might have had an impact. 
VIA: http://news.yahoo.com
Had several of the interferences by politicians, including the anti-business slant of the federal administration the past five years, not occurred the economy may have naturally recovered on it’s own. But, they’ve screwed it up big time in many ways.
Good point HarleyD.
I hope this assertion is publicized and used in the debate.
Heck, 6.7% UE? We don’t need to extend.
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