US unemployment rate rises to 9.8%

Financial Times ^ | 120310 | Alan Rappeport

[Fred]

The US economy added a worse-than-expected 39,000 jobs in November, as the unemployment rate edged higher, underscoring the weakness of a labour market recovery that is struggling to gain traction.

snippet...

“Any thought that the Fed would scale back its QE2 purchases of Treasuries in the coming months has to be dashed by this report,” said John Ryding and Conrad DeQuadros, economists at RDQ Economics.

snippet...

“Today’s numbers underscore the importance of extending expiring tax cuts for the middle class and unemployment insurance for those Americans who have lost their jobs,” said Austan Goolsbee, head of the White House’s Council of Economic Advisers.

[Fred]

Note the abuse by the Goolsbee ObamaTard...he refuses to capitulate on across the board tax cuts..

[Typical_Whitey]

Quick lets raise taxes on business so we can end this capitalist nightmare once and for all... Love Karl Marx

[dalebert]

and note how the rats ignore the climb in unemployment

[Rational Thought]

That's the Liberal talking point today.

What seems odd to me it the way these numbers have been reported all morning. The phrase “a real set back to the administration” keeps being used. Now, anyone operating in the real world has known things have been getting worse. These numbers are simply a confirmation. By reporting these numbers in such a manner suggests that even Obama’s own Media is indicating that their Messiah doesn't have a clue.

In the interim, their talking point of “tax cuts for the rich”, even with bogus polls (CBS today), isn't going to fly.

[central_va]

Unexpectedly?

[MissTed]

I suspect that it’s higher, but the MSM is covering for their messiah.

[Yo-Yo]

Somebody over at the Labor Department is going to lose their job for not removing enough people from the work force. (Then when they do, they will themself be removed from the work force as a discouraged worker.)

[Psalm 73]

Don't look at the new (grotesque) unemployment figures - look at me in Afgahnistan - over here - see me?
Pretty cool, huh?

[Uri’el-2012]

True unemployment U-6

U-6 is closer to 20-25%

Much like the 1930s

[Leftism is Mentally Deranged]

Working very hard, hiding numbers here, changing numbers there, all to keep it under 10%.

Do you really believe that it is really 9.8%?

[stompk]

True unemployment U-6

where do you get these numbers and where can I find out more about what the "U" designators mean ?

[Uri’el-2012]

Unemployment at wiki

[ari-freedom]

and it is much much worse for blacks and other minorities

[Revolting cat!]

Unespectetly!

[algernonpj]

where do you get these numbers and where can I find out more about what the "U" designators mean ?

BLS definition of the U-1 thru U-6

Unemployment if it were calculated as it was in Reagan's day:



In order to compare 'apples' to 'apples', compare todays's U-6 to Reagan's U-3. This is due to changes in how nemployment is calculated and what subsets of unemployment are included in U-3 and U-6.
Unemployment Primer

[Revolting cat!]

[PSYCHO-FREEP]

“Unexpected, worse than expected”.

Increase taxes, triple the size of government, allow government to take over most of the free enterprise system, print record amounts of worthless currency, shut down over half of the Oil/Gas industry, put 25% of the population on some Government handout program, fund it by printing more worthless cash.

Now what could go wrong with such a solid and proven plan as this?

[dsrtsage]

Hope for Spare Change

[Cobra64]

where do you get these numbers and where can I find out more about what the "U" designators mean ?

Here's a month old graph:

[a fool in paradise]

Rises to 9.99999999999999999998% unemployment.

Groan.