Posted on 11/24/2015 7:41:18 AM PST by SeekAndFind
Americans are losing faith in the jobs market.
The Conference Board's consumer confidence index for November, released on Tuesday, unexpectedly fell to 90.4, a 14-month low. Economists had estimated that the index rose to 99.5 in November, from an upwardly revised 99.1 print (from 97.6) in October.
The Conference Board's Lynn Franco explained in the report:
"The decline was mainly due to a less favorable view of the job market. Consumers' appraisal of current business conditions, on the other hand, was mixed. Fewer consumers said conditions had improved, while the proportion saying conditions had deteriorated also declined.
Heading into 2016, consumers are cautious about the labor market and expect little change in business conditions."
The report showed that the share of consumers expecting more jobs in the coming months fell to 11.6% from 14.4%, while those expecting fewer jobs rose to 18.7% from 16.6%.
Consumers were also more downbeat about chances that their wages would rise.
Just last month, the US economy added 271,000 jobs, the strongest pace of employment growth this year, and the unemployment rate fell to a seven-year low of 5%.
However, the trend in the pace of jobs growth this year has mostly been downward.
(Excerpt) Read more at businessinsider.com ...
Seven years being led by America’s answer to Lenin has trashed a lot.
And it’s going to take a lot to undo all that the White House sicko has ruined.
A story from yesterday said that the Jobs market was “on fire” !!!
Ironic that in the 30’s unemployment was over 25% and they called that a depression. Now we have a rate at around 6% (according to guberment) but more like 20+% and they call it a recovery.
I'm hoping President Cruz will address these;)
For ten years (since prior to the 2008 economic collapse) I have had the sense that the U.S. economy had run its course for a while and seemed likely to be heading into a decades-long malaise. This has nothing to do with Obama, or with politics in general. If anything, it’s rooted more demographic and cultural rot than anything else. I see Obama as a symptom of the problem, not the problem itself.
You said...
“I see Obama as a symptom of the problem, not the problem itself.”
I’ve been saying the same thing myself. Great minds think alike
Point taken, but this Bozo sure as Hell is exacerbating the problem.
...and apparently it burnt to the ground.
Just like the Reichstag!
It is easy to get to 0% unemployment.
Everyone quit their jobs and no one look for jobs.
Then, based on how unemployment is calculated, we would be at 0% unemployment!
The media would go wild, Obama would be a god, 0% unemployment!!
| Measure | Not seasonally adjusted | Seasonally adjusted | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Oct. 2014 |
Sept. 2015 |
Oct. 2015 |
Oct. 2014 |
June 2015 |
July 2015 |
Aug. 2015 |
Sept. 2015 |
Oct. 2015 |
|
|
U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force |
2.7 | 2.0 | 2.1 | 2.8 | 2.2 | 2.1 | 2.2 | 2.1 | 2.1 |
|
U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force |
2.6 | 2.2 | 2.3 | 2.8 | 2.6 | 2.6 | 2.6 | 2.5 | 2.5 |
|
U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate) |
5.5 | 4.9 | 4.8 | 5.7 | 5.3 | 5.3 | 5.1 | 5.1 | 5.0 |
|
U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers |
6.0 | 5.3 | 5.2 | 6.2 | 5.7 | 5.7 | 5.5 | 5.4 | 5.4 |
|
U-5 Total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force |
6.8 | 6.0 | 6.0 | 7.1 | 6.4 | 6.4 | 6.2 | 6.2 | 6.2 |
|
U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force |
11.1 | 9.6 | 9.5 | 11.5 | 10.5 | 10.4 | 10.3 | 10.0 | 9.8 |
|
NOTE: Persons marginally attached to the labor force are those who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the past 12 months. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not currently looking for work. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule. Updated population controls are introduced annually with the release of January data. |
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