The unemployment rate held steady at 7.8%,
Held steady, because last month was raised a 10th of a point. How can they report that with a straight face (not that they don't do it every month).
“A surprisingly uneventful report, as BLS reports that 155,000 Jobs were added in December, right on top of the 156,000 expected”
The economists were right for a change? Maybe the world didn’t end in December, but this surely mus be a sign of the apocalypse.
I love that unemployment data is hardly even news now...not even in breaking news. We will see numbers at this level or worse for 4-5 year to come at a minimum, because this is what the brilliant American people voted for. Unless someone can come along and successfully explain to the American people that we have slid into an unsustainable European welfare state and why that is bad, this will last a lot longer than 4-5 years. High unemployment is no longer news. So sad.
U6 %14.4
Everything else is smoke and mirrors.
Remember kids: 155 is on top of 156.
Welcome to the new normal — unemployment above 7% because no one wants to hire and take on all the cost, regulatory burden and potential litigation.
I wonder how many of those created jobs were only seasonal?
not counting the job cuts that were announced in December...
We’re being manipulated by a collection of idiots.
Wow, 155,000 part time gift wrapping jobs added for December!
Here in Pennsylvania they raised the Unemployment Contribution rate from $1 a week to $10 a week. That is a thousand percent increase.
The Pennsylvania Unemployment fund is broke. The state had to borrow 3.8 billion from the feds to give checks to the people who do not work. We PA taxpayers will have to pay back the 3.8 billion at a tune of $500 million a year in interest payments.
There was no net 155,000 jobs counted anywhere.
The Establishment Survey raw count was -243,000 jobs.
http://www.bls.gov/news.release/empsit.t17.htm
Run -243,000 through the Birth and Death Model and seasonal adjustment ==> +155,000
In addition:
The Household Survey raw count was -489,000 people employed.
http://www.bls.gov/news.release/empsit.t01.htm
Instead of an “unemployment” rate which can be fudged, the government should report the percentage of Americans who are actually working and paying taxes minus school-aged children and retirees. Can’t fudge that!
As it stands now we are led to believe that if the unemployment rate is 7.8% then 92.2% are actually employed.
The news can then be read: “Of the 120 million adults in this nation between the ages of 18 and 65, 40 million or 33% have jobs and are paying taxes. The remaining 67% are living off the government (our taxes) largess.”
I’ll bet I’m not far off on the percentage!
Instead of an “unemployment” rate which can be fudged, the government should report the percentage of Americans who are actually working and paying taxes minus school-aged children and retirees. Can’t fudge that!
As it stands now we are led to believe that if the unemployment rate is 7.8% then 92.2% are actually employed.
The news can then be read: “Of the 120 million adults in this nation between the ages of 18 and 65, 40 million or 33% have jobs and are paying taxes. The remaining 67% are living off the government (our taxes) largess.”
I’ll bet I’m not far off on the percentage!