When the temporary jobs go away, the rate will rise way above 11% again.
For now, it is spin, spin, spin, and spin some more.
Posted on 12/04/2009 6:41:19 AM PST by FromLori
The unemployment rate edged down slightly to 10.0 percent in November from 10.2 percent in October, the Bureau of Labor Statistics reported today. There was only a net job loss of 11,000 in October. In the prior 3 months, payroll job losses had averaged 135,000 a month.
The flatenning of the unemployment can largely attributed to gains in the number of temp workers. Employment in professional and business services rose by 86,000 in November.Temporary help services accounted for the majority of the increase, adding 52,000 jobs. Since July, temporary help services employment has risen by 117,000. Employers using temp services are obviously a signal that firms are very nervous about the economy and do not want to take on the burden of a permanent employee.
The only other sector to gain was the heavily government influenced health care industry. Health care employmentrose in November by 21,000 with notable gains in home health care services (7,000) and hospitals (7,000). The health care industry has added 613,000 jobs since the recession began inDecember 2007.
Among the major worker groups, unemployment rates for adult men (10.5 per-cent), adult women (7.9 percent), teenagers (26.7 percent), whites (9.3 per-cent), blacks (15.6 percent), and Hispanics (12.7 percent) showed little change in November.
The number of long-term unemployed(those jobless for 27 weeks and over) rose by 293,000 to 5.9 million. The percentage of unemployed persons jobless for 27 weeks or more increased by 2.7 percentage points to 38.3 percent.
About 2.3 million persons were marginally attached to the labor force in November, an increase of 376,000 from a year earlier. (The data are not sea-sonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.
Among the marginally attached, there were 861,000 discouraged workers inNovember, up from 608,000 a year earlier. (The data are not seasonally ad-justed.) Discouraged workers are persons not currently looking for work be-cause they believe no jobs are available for them. The remaining 1.5 mil-lion persons marginally attached to the labor force had not searched forwork in the 4 weeks preceding the survey for reasons such as school attend-ance or family responsibilities.
Construction employment declined by 27,000 over the month. Manufacturing employment fell by 41,000 in November. Employment in the information industry fell by 17,000 in November.
The DOW is up 138 points right now.
There are some programmers in England who are real good at that sort of thing...
ping see also
http://www.marketwatch.com/story/another-100000-jobs-lost-economists-predict-2009-12-03
http://www.calculatedriskblog.com/2009/12/ism-non-manufacturing-shows-contraction.html
lol I just posted this in response to another on that subject
There is a certain internet shopping place online that has a warehouse on the westside of Indy. They have been hiring using temps, working them like dogs for 10 days, dumping them, then hiring some more. These people cannot file for unemployment but I am sure they are counted in the numbers as hires.
I bet that is going on in other places too.
Exactly. It is disgusting.
Sure and a lot of number fudging by the obamma crowd.
I know that the big box I was working for brought on 57 temps to deal with the Christmas crush. They have to sign an acknowledgement at hire stating they know they are temporary workers, will be laid off after the season, and are not entitled to any benefits or anything else the regular workforce is entitled to. They don’t sign, they don’t work.
Regular workers also had to sign that if they got 40 full hours, this was not the norm and they would go back to their under 30 status as soon as the holiday was over so don’t get used to it, and just because you hit 40 during the holiday, does not entitle you to the full time benefits package so don’t ask.
All this for under 8 bucks an hour at a back breaking job. The real commentary was the usual people who apply for this christmas work weren’t there. People showing up in SUITS AND TIES, with BRIEFCASES to their interviews! I am talking unloading trucks and stocking shelves overnight during Christmas. I have never seen anything like it. Also, the number of temp hires was down from 75 last year to 57 this year, and the normal staff was down from 35 to 23. Also, they were paying a dollar less per hour than last year, even for those with prior experience in the same store.
I saw Hilda Solis on tv rejoicing.
Doubt she will be so happy in the Jan / Feb time frame.
Supply and demand at work.
An over supply of folks needing work and an under supply of jobs. The stores can do it because of that.
If the bone heads in Washington would realize that simple fact they could fix everything.
Full employment means less workers out looking for a job translates into business paying more for workers = more take home pay for everyone.
The Dow is up and the Dollar is (still) heading down.
The only “idea” that I heard presented out of this White House photo-op, was that the Government should pay for more “home winterization” projects because that would stimulate jobs immediately.
Translated, that means giving Cities access to Federal slush funds so they can pay some derelict $18.00 an hour to smear caulk on the windows of elderly citizen’s decrepit homes, (and enable the “caulker” to case those people for the good stuff to steal later...). This amounts to making the City an accessory to Breaking and entering, looting, and who knows what else, but at least local politicians could show they were “doing something” about “creating jobs”, no matter how transitory (or potentially dangerous) those very temporary jobs will prove to be.
Never mind that a homeowner can buy an entire case of caulking and a gun to apply it for $20 at Home Depot...
I have every reason to believe that the Labor Department is cooking the books on unemployment, and will probably come back in a couple of weeks “seasonally adjust” all of these numbers upward. God only knows how many people are actually unemployed right now. There is no reason to believe any of the numbers that any government is providing on unemployment or anything else. Everything is spin and propaganda.
In our area we have had six murder-suicides in the past 35 days or so, and every one of them had some combination unemployment, divorce, foreclosure, and/or financial hardship identified as probable motives.
We had a young family of four who were unemployed and were trying to get their electricity turned back on, and burned down their duplex trying to keep the family warm with the fireplace. Not only did they put themselves on the street, but they drove the family living in the other side of the duplex out as well. It’s a very sad situation.
Keep your powder dry kids...
Thanks for your input I think it is good people realize how bad things are in reality because heaven knows we hear nothing but propaganda from the communist mainstream media.
We are older and we have never seen anything like this either.
These reporters need to go back to college and learn macroeconomics. If jobless rate is flattening out, where is the state tax revenues, why are they still dropping? Something does not jive here.
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