Posted on 12/05/2016 2:46:05 AM PST by expat_panama
The U.S. economy added 178,000 jobs in November as the unemployment rate fell to 4.6%, the lowest since 2007, the Labor Department said Friday morning.
Economists had expected a gain of 170,000 jobs and an unchanged 4.9% jobless rate.
Employers in professional and business services added 63,000 jobs, while health care sector employment rose by 28,000 and construction 19,000. Manufacturing shed 4,000 jobs.
October payroll growth was revised down by 19,000 to 142,000, but that was largely offset by an upward revision to September's job gain of 17,000 to 208,000.
The unemployment rate fell in large part because the labor force participation rate fell...
...Treasury yields have been surging since Election Day on prospects for tax cuts and infrastructure spending, which could stimulate both faster growth and inflation.
A rate hike when the Fed meets on Dec. 14 is seen as a slam dunk. The real question for investors is whether the Fed, which has telegraphed two additional quarter-point rate hikes in 2017 and three in 2018 will have to step up the pace.
Even with the jobless rate sinking, it's hard to draw firm conclusions based on Friday's report. The real questions are whether the drop in participation and October's drop in hourly wages are statistical noise...
...unemployed have fallen by 538,000. Still, participation was up by more than 2.1 million from a year ago.
Meanwhile, there's little evidence to support a sudden drop-off in wage growth...
...a spike in labor demand from the Trump fiscal stimulus could be "a bidding war (for labor), driving up the rate of wage growth, with only a modest rise in participation."
That concern is why he's predicting an upsurge in inflation by the second half of 2018 that puts the brakes on a short-lived Trump boom.
(Excerpt) Read more at investors.com ...
I say expand the economy so hard that employees are worth their weight in gold, like they were in the late 1990's. I want the labor demand curve on my side, not the employers. THAT's how you get wage increases and a better life.
there have been no changes to the way these statistics are compiled or reported during the Obama administration.
IBD uses the phony unemployment rate of 4.9 percent when the number is closer to 20 percent.
FAKE NEWS at IBD
IBD uses the phony unemployment rate of 4.6 percent when the number is closer to 20 percent.
FAKE NEWS at IBD
At 4.6 % the economyis at full employment. Those not working are between jobs. At least that was the word back during the Bush administration. There are always `4.7% of the work force in a fluid situayion.
Obama has gone too far for reality in his jiggering of the numbers
“Trump MUST, MUST, MUST debunk the mythical unemployment rate coming from the BLS. He must clean house in this rigged organization.”
He must also fix the consumer price index statistics which exclude food and energy prices.
>>upward revision to September’s job gain of 17,000 to 208,000<<
Right, that explains everything./s
Bravo Sierra, “Legislator”!
Labor market too tight? Oh that’s rich
This sort of cr@p is why I never subscribed to/read IBD.
The inconvenient fact that 95+ million people are out of the labor force isn’t even acknowledged.
“...there have been no changes to the way these statistics are compiled or reported during the Obama administration.”
Right, and you know this too be true why?
I'd like to see him issue 2 rates every month: one using obammy's calculus and the real one.
Trump should start on day one by adopting U6 as the official unemployment rate. He has not thing to lose by making the change, but a lot to lose by sticking to U3 and trying to make everybody believe it.
If the labor market is so tight, where is my big raise?
I gave up on believing anything IBD has to say about the economy long ago! IBD is a mouthpiece for the lying Obama administration (as are many of the MSM outlets).
Why don’t the report the U6 unemployment rate? Why don’t they report that most of the added jobs are part time or temporary for the holiday season? Why don’t they report that about 95 million people have dropped out of the labor market?
Because understanding these stats is very important to my job, and so I follow them very closely. Practically everything said on this thread so far is wrong, misguided and stupid.
We are supposed to take this “news” seriously?
Fewer and fewer people are working because it is to easy to just go on welfare.
Obama is importing hundreds of thousands of refugees, mostly Muslimbs, every single year.
These refugees are completely unemployable. They have ZERO job skills for the twentieth century. They are a total drag on the economy. They produce nothing and take everything. They bring in all types of diseases and crime and they are not included in the unemployment rate.
Now you know the rest of the story.
I’m getting a COLA raise that gets negated and then some with medical insurance going up.
None of this data makes sense.
How can there be such low unemployment when there are 96 million out of work. The DOL needs a lot of upgrading.
You do know that for many years, the DOL has been staffed from members of the AFL-CIO’
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