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%.
| TALES OF THE UNEXPECTED Barack Hussein Obama Junior |
And I was right too, huh? Job creation.
Lol, I kept waiting for something to happen there, my mind is a gif!!
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LOL!
You were waiting for a brilliant animated .gif to suddenly appear!
Gotta Gogh make a Corona run now -
Yes, lol. Nothing ever popped up!
See ya later, you go much earlier now.
Essentially what the numbers mean is that we had a net gain of 50K workers who were employed at the end of the month. Based on the weekly unemployment claims, over 1.6 million workers stopped working during the month and over 1.6 million workers started working during the month. The number who started working was 50K more than the number who stopped working during the month. I listened to David Stockman on CNBC today and he went through the employment numbers and explained that most of the jobs created since the recession officially “ended” last year have been temporary jobs. That’s not surprising at all because employers don’t want to take on the unknown and probably large additional costs of Obamacare coverage for new permanent employees, so they’re only hiring temps and consultants and people they absolutely have to hire for permanent jobs.
I appreciate your patience and attempt to explain this.
What we are left with is an unemployment figure that grew 0.2% I don’t think your explanation gels with that. 0.2% sounds small, but it’s a very large number none the less.
Look, I’m obviously no expert, so I’m not here to say you’re wrong. I still don’t understand what justifies the claims and figures here, and that’s not focused on you at all. It’s the reporting that causes me to say this.
Take care.
My explanation of the total jobs numbers is correct. The unemployment rate probably rose because the number of people seeking employment last month increased significantly. But I can’t tell you how the labor department estimates how many people are currently seeking employment. That seems like a number that would be very difficult to determine, but somehow they estimate the number of unemployed job seekers every month.
None of this makes any sense. Spending is up, incomes and employment are flat, weekly jobless claims are down. Manufacturing is expanding but manufacturing employment is flat. I don’t trust any of the government figures anymore.
Thanks again. I do appreciate your patience.
Look the unemployment figure has been pegged at 9.6% for about six months. Sorry, I’m not buying that at all. It’s one of those factoids that screams manipulation to me.
BTW, after Clinton I never buy into government figures anymore.
Our elected officials think they’ve really got us snookered. Ah, not hardly...
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i’z baaaaack
Yeah, a 3 1/2 hour quick trip!!
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Lotsa stuff
Unpacking
Corona
Etc.
I know. Heavy load, lol.
I got a lot done. Decorated my profile for Christmas too.
The 50K is the net new jobs created. It includes the ~1.6 million new hires.
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Tinsel on the RR tracks
Chestnuts roasting after TSA.....
Lol, I think you did more Corona amid the - unpacking!
On December 24th there are going to be a bunch of seasonal hires that are going to be out on the streets. Might as well go ahead and “expect” it.
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You just don’t appreciate free verse!
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