Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Economy Added Fewer Jobs Than Expected in November [unemployment rate: 9.8%]
The Wall Street Journal ^ | Friday, December 3, 2010 | By LUCA DILEO And JEFFREY SPARSHOTT

Posted on 12/03/2010 5:48:02 AM PST by MinorityRepublican

Edited on 12/03/2010 6:00:23 AM PST by Admin Moderator. [history]

WASHINGTON—The U.S. economy added fewer jobs than expected in November and the unemployment rate rose to its highest level since April, underlining the continued weakness in the labor market 17 months into the recovery.

Nonfarm payrolls rose by 39,000 last month as private-sector employers added only 50,000 jobs, the Labor Department said Friday. The October number was revised up slightly to show a 172,000 increase from a previous estimate of 151,000.

The unemployment rate, which is obtained from a separate household survey, unexpectedly rose to 9.8% last month. More than 15 million people who would like to work can't get a job.

Economists surveyed by Dow Jones Newswires had forecast payrolls would rise by 144,000 and that the jobless rate would remain unchanged at 9.6%.


TOPICS: Breaking News; Business/Economy; Government; Politics/Elections
KEYWORDS: economy; ecoonomy; expectedlyunexpected; joblessrate; jobs; obama; recession; recovery; unemployment; unexpected
Navigation: use the links below to view more comments.
first previous 1-20 ... 81-100101-120121-140 ... 181-193 next last
To: SkyPilot

“Do you mean the U-3 number? The U-6 number is over 22% today (and approaches 23% with the latest data).”

I suppose it’s a nit, but I think you are wrong. The graph you posted shows U-6 at around 17%. It is the “SGS Alternate” number that is around 22%. Again, I suggest sticking with U-6, which is much more that U-3 but significantly less than SGS Alternate.


101 posted on 12/03/2010 10:11:36 AM PST by olrtex
[ Post Reply | Private Reply | To 99 | View Replies]

To: nutmeg

fewer jobs than WHO expected?!?


102 posted on 12/03/2010 10:13:15 AM PST by RaceBannon (RON PAUL: THE PARTY OF TRUTHERS, TRAITORS AND UFO CHASERS!!!)
[ Post Reply | Private Reply | To 87 | View Replies]

To: devolve

Good post devolve. Some new heads are needed on those, lol.
I actually pity the Republicans, digging out of this will take years but the libs will be howling in 6 months if things aren’t better.


103 posted on 12/03/2010 10:25:35 AM PST by potlatch ( Life must be lived forward but can only be seen looking backward. - Soren Kierkegaard)
[ Post Reply | Private Reply | To 38 | View Replies]

To: devolve
Nice post. I see there are lines of people needing help with heating in Georgia, large numbers of police being let go in crime ridden cities........can't imagine how bad it can get. Three evil people managed to instigate all this “hope and change”.
104 posted on 12/03/2010 10:38:47 AM PST by potlatch ( Life must be lived forward but can only be seen looking backward. - Soren Kierkegaard)
[ Post Reply | Private Reply | To 96 | View Replies]

To: olrtex
Gotcha, and you're right. Also, I did mix up U-6 and SGS, sorry.

But, we still are in lala land with the Gubmit fudging the real numbers.

Here is a little wrench in the gears as well: soon, hundreds of thousands of people may lose their perpetual unemployment checks (which some people have been collecting for almost 2 years!)

When that happens, they automatically come off the U-3 list, and go on the U-6 list! So, will Labor tell us how unemployment just dropped like mad?

105 posted on 12/03/2010 10:45:14 AM PST by SkyPilot
[ Post Reply | Private Reply | To 101 | View Replies]

To: arkfreepdom

She can’t be elected Speaker. She was, however, elected as Minority Leader. Idiots.


106 posted on 12/03/2010 10:52:47 AM PST by OCCASparky (Obama--Playing a West Wing fantasy in a '24' world.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: MinorityRepublican; All

Can someone please explain to me how they can say we had 50,000 jobs added, when there were 438,000 (or close to it) new applications for unemployment?

That would seem like an overall loss of 388,000 jobs? Jobs added? Surely they jest.


107 posted on 12/03/2010 10:53:28 AM PST by DoughtyOne (Is the U. S. on life support. Looks for all the world like a team has decided to pull the plug.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MinorityRepublican

The democrats had a chance for a strong recovery, but they booted that opportunity by screwing over small businesses with Obamacare and other oppressive legislation. As the democrats say, “you call it income redistribution and we call it fairness.” Small business people are voting against investing and hiring more workers and then having much of their return on investment taken from them to pay for Obamacare and costly bailouts of public sector employees.

The liberals need to learn one big thing: a steadily growing national economy cannot be built up through top-down directives and mandates from the central government, but instead can only be built from the ground up by ensuring the rights of individuals to work and build business with minimal government interference and strictly limited taxation. The voters took the democrats to school on these principles last month, but I’m not sure if stubborn socialists like Pelosi, Hoyer, and Frank have learned anything yet.


108 posted on 12/03/2010 10:55:19 AM PST by socialism_stinX (He didn't invent fresh-brewed coffee, but he perfected the art of sipping it during tennis warm-up.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DoughtyOne
That would be initial unemployment claims. Even in a good economy there are claims because of normal job turnovers, etc. The benchmark to a "healthy" economy would be a weekly jobless claims number around 300-350K. Hit 400K and you're in trouble.

As has been noted, it hasn't fallen below 400K more than a week or two here and there since Zero took office.
109 posted on 12/03/2010 10:57:58 AM PST by OCCASparky (Obama--Playing a West Wing fantasy in a '24' world.)
[ Post Reply | Private Reply | To 107 | View Replies]

To: OCCASparky

Okay, I agree. I’m not sure if I’m making my point clear, but the 438,000 number is just one week’s (at least, as I understand it) new claims.

The 50,000 figure was the jobs created for the whole month.

1.6 plus million jobs lost (new claims) in November and 50,000 total added.

Is there a mistake on my part?

We’re looking at about 1.550 million less jobs at the end of the month. Do you see an error in my logic?


110 posted on 12/03/2010 11:15:13 AM PST by DoughtyOne (Is the U. S. on life support. Looks for all the world like a team has decided to pull the plug.)
[ Post Reply | Private Reply | To 109 | View Replies]

To: MinorityRepublican

On the upside, people are “green”.....they have nowhere to drive!


111 posted on 12/03/2010 11:20:59 AM PST by Red in Blue PA (Planning on using 911? Google "Brittany Zimmerman")
[ Post Reply | Private Reply | To 1 | View Replies]

To: SkyPilot; All

I think if the government ever told the truth about how bad things were there would be a market drop of 30-40%.


112 posted on 12/03/2010 11:35:10 AM PST by Red in Blue PA (Planning on using 911? Google "Brittany Zimmerman")
[ Post Reply | Private Reply | To 105 | View Replies]

To: potlatch

.

Thanks potlatch -

LOL!

I imagine the lefties heads explode when they see that post!

.


113 posted on 12/03/2010 12:01:33 PM PST by devolve (. . . . . . . . . . . . . . . 0ponzi 9.8% . . . . . . . . . . . . . .)
[ Post Reply | Private Reply | To 103 | View Replies]

To: MinorityRepublican

The recovery is going so well. /sarcasm of course


114 posted on 12/03/2010 12:18:51 PM PST by rdl6989 (January 20, 2013- The end of an error.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: potlatch

.

I saw somewhere that Chicago firefighters and police are retiring after only 20 years service with huge (UNFUNDED) pensions - and they never paid into Social Security -

Now they can sit in front of their new 60” HDTVs and drink and snack - or work for another law enforcement agency and again “retire” with another pension - or buy into a bar and end up collecting Social Security too!

.

Illinois and California think that 0pansy will give them bailouts to pay for their unfunded government pensions and pay off their huge mega-debts

You can bet in Georgia the rural citizens will find several ways to heat their homes and businesses -

It’s the grifters in Atlanta that are demanding cash to pay for their heating bills - It sure is not as cold in Georgia as it is here!

And I have figured out how to cut my heating costs in half from the last 2 years - I have the heat turned off right now - and it is 77°F inside -

Maybe I can open my windows like some Enviro-NYers do - and it will be twice as warm - and not cost me a penny!

.


115 posted on 12/03/2010 12:20:15 PM PST by devolve (. . . . . . . . . . . . . . . 0ponzi 9.8% . . . . . . . . . . . . . .)
[ Post Reply | Private Reply | To 104 | View Replies]

To: MinorityRepublican

Not to fear. The true (U6) unemployment rate remained unchanged at 17%.


116 posted on 12/03/2010 12:20:18 PM PST by catnipman (Cat Nipman: Made from The Right Stuff!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DoughtyOne
Do you see an error in my logic?

Yes. Basically the weekly numbers are for INITIAL jobless claims. Some leave the workforce, some come back in, some find jobs. The monthly figures are a cumulative number; if there are, say, 400K NEW claims per week for a month, not all of those people are going to STAY out of work for an entire month, and some others may be offered jobs as well. Again, turnover is a normal part of those numbers. Even in a good job market, people change jobs, etc., and those are part of the weekly claim but may not show up in the monthly numbers.
117 posted on 12/03/2010 12:21:57 PM PST by OCCASparky (Obama--Playing a West Wing fantasy in a '24' world.)
[ Post Reply | Private Reply | To 110 | View Replies]

To: socialism_stinX

“Small business people are voting against investing and hiring more workers and then having much of their return on investment taken from them to pay for Obamacare and costly bailouts of public sector employees.”

Yep. Only a fool invests in economic growth when Marxists are in charge of the economy.


118 posted on 12/03/2010 12:22:35 PM PST by catnipman (Cat Nipman: Made from The Right Stuff!)
[ Post Reply | Private Reply | To 108 | View Replies]

To: devolve
I'm sure they would hate it, lol. They are now asking newsmen to discuss ‘problems’ with them before talking about it in public, and we know they are using ways to chastise people if they ‘disobey’.
119 posted on 12/03/2010 12:52:10 PM PST by potlatch ( Life must be lived forward but can only be seen looking backward. - Soren Kierkegaard)
[ Post Reply | Private Reply | To 113 | View Replies]

To: devolve
Yes, I know the ‘government’ jobs pay well and have perks. Firemen and Policemen have dangerous jobs but the easiest and best perks go to the US Postal workers!!

I know Atlanta has a high minority population, they even tell you at the airport to be careful where you go at night there!

[Lol, nothing like rain, wind and snow blowing in the window and the heat going full force.]

120 posted on 12/03/2010 1:01:06 PM PST by potlatch ( Life must be lived forward but can only be seen looking backward. - Soren Kierkegaard)
[ Post Reply | Private Reply | To 115 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 81-100101-120121-140 ... 181-193 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson