Posted on 12/02/2011 5:53:03 AM PST by The_Victor
Job creation remained weak in the U.S. during November, with just 120,000 new positions created, though the unemployment rate slid to 8.6 percent, a government report showed Friday.
The rate fell from the previous month's 9.0 percent, which would reflect a drop in the participation rate among those without jobs.
Average earnings were essentially flat, up two cents to $23.18 an hour. Private payrolls increased 140,000, considerably less than a report earlier this week showing that nongovernment jobs were up by more than 200,000 for the month.
(Excerpt) Read more at cnbc.com ...
I don’t think Bolling is on there all the time. I like that guy.
The rest of them make me sick, especially the fat putz Beckel.
They shoulda left that shrimp in his piehole. ROTFL
Yep Bolling pulled out the old Rove dry erase board and made it simple for even libs to understand. A .4% drop equals a pick up of over 600.000 jobs, or those leaving the workforce. 120,000 jobs created, 315,000 people giving up looking. Where does the Gov. come up with the missing 200,000 jobs needed to make the needle move to 8.6%? Welcome to the fascist state Bambi has created by corrupting every level of Gov.
Teh unemployment rate will be down below 5% by next November, the way the numbers will be jumbled.
Now get ready for the flop eared fag to pat himself on the back.
My TV gets the click off for that.
My blood pressure will boil.
The participation rate is the lowest since the late 1970’s. If we applied the 2007-08 participation rate to today’s numbers, we’d have U-3 numbers in excess of 12-13 percent.
I forget the exact number of jobs that need to be created to account for new entries into the labor force, just to hold the unemployment rate steady, but it’s far more than the number of new jobs created in November.
This supposed drop to 8.6% unemployment, is pure make believe.
The true message delivered here is not related to unemployment, but rather that Obama and company are not above fraud to maintain their power.
“...the so-called “discouraged workers” number. That number must be huge and the media doesn’t make it the headline???!!”
I’m bemused that the media is avoiding mentioning ‘underground’ workers.
Under the table costs are now 1/3 ‘legitimate’ costs in my experience.
At some point the media will have to mention this.
How will they manage to make the point “the situation isn’t as bad as the numbers indicate because people have wonderful ‘under the table’ jobs!”
...Instead of “’government regulation and costs of doing business are so onerous huge numbers of workers are opting out”.
When I was young ‘under the table’ work just avoided income taxes. Now it avoids a fortune in myriad taxes, fees, and regulation.
Like I said in a previous post, "Smoke & Mirrors"!
"If you are unemployed long enough, you are no longer unemployed." (H/T to trav7777 at zero hedge)
Funny that we NEVER hear about extending the package any more.
IIRC, it is part of Zer0's jobs bill.
LOL
Agree Beckel is a loud mouth big headed, classless ,perverted, union thug/hack.
I’d love to get the guy in a boxing ring with me and we’ll see how much of that mouth can be backed up.
I sense he can’t.
FOX got rid of Beck for these clowns on the five minus Eric, like I said I tried to watch it but just couldn’t.
Out of curiousity and I hope you do not mind me asking but d you watch Beck on his new show and if so would it be worth it to get that Roku or what ever it is or can I just use a WIfi TV, smart TV and watch him like that?
Nah. The underground economy is so huge that Congress refuses to acknowledge its existence. If the pols in DC won't even talk about it, neither will the drive-bys.
but it does matter as the media are very powerful and we know how they attack our side ALL THE TIME with their lies and by covering for their messiah in the white house.
They got him elected due to them ignoring facts and attacking Sarah and there is no way they will stand by or do their job and risk losing their messiah and investment .
Some are happy to be unemployed and will vote for no brains socialist.
They're playing with numbers and lying to us once again. The goal is to bring the unemployment numbers down while pumping the stock market, in order to get the socialist-in-chief reelected.
Additionally, Obama will take credit for the payroll tax cut and remind voters he's putting more money in their wallets every week. If the tax cut extension fails, he will go full bore on the attack and blame the GOP for “ruining” the economic “recovery”. The sheeple will lap it up and run to their savior Barack.
Last year the CBO estimated that 187,000 new jobs would need to be created each month to keep the unemployment rate steady.
http://www.calculatedriskblog.com/2011/07/how-many-jobs-are-needed-over-next-year.html
The jobs situation is rather bleak going forward:
http://ceoworld.biz/ceo/2011/07/25/how-many-new-jobs-does-the-united-states-need-job-gap
After nearly two brutal years, the Great Recession appears to be over, at least technically. New jobs will come open in the United States But many will have different skill requirements than the old ones. Brooking Institute, a nonprofit public policy organization based in Washington, DC, estimates the June “job gap” is at 12.3 million jobs, up 150,000 jobs from May. (Job gap represents the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while absorbing the 125,000 people who enter the labor force each month.)
Based on that job gap estimate and historical trend in previous recession-to-recovery cycles, assuming 208,000 new jobs per month (best average rate in the 2000’s), it will take 12 years or until October 2023 to close the job gap.
I have a Roku, but I think you have to pay to get GBTV streamed through the Roku.
You can also watch it through your computer.
Payrolls climbed 120,000, after a revised 100,000 increase in October, with more than half the hiring coming from retailers and temporary help agencies
Or wabbit season.
The number of jobs created comes from a business survey. The unemployment percentage comes from a telephone survey conducted by the US Census bureau on behalf of the Labor Dept. The Census Bureau calls about 60,000 households (it is usually the second week of the month). They ask every person in the household if they have a job. If a person does not have a job, they are asked if they have looked for a job in the last 4 weeks. If they have not, that person is not counted in the labor force. If they have looked for a job in the last 4 weeks, they are counted in the labor force.
The household survey and the business survey usually do not agree on how many jobs are created since the business survey does not pick up on newly created businesses while the household survey does pick that up. I don't know what the number is for November, but I recall hearing Larry Kudlow saying that the household survey for October showed a gain of 300,000 jobs while the business survey showed, I think, a bit over 100,000.
So that 8.6% is a combination of people dropping out of the work force and it probably shows a much large job gain than the business survey.
I’ve been waiting for Rush’s take on this, so will head to the live thread in a few.
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