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 ...
These numbers are not to be trusted.
Economy creates 120,000 jobs — most of them seasonal jobs. Just wait and see what the unemployment rate will be AFTER the holidays.
The number of people who quit looking for work must have increased significantly if only 120K jobs were created and unemployment rate dropped that much.
Sounds like it’s one of those “seasonally adjusted” things.
“The rate fell from the previous month’s 9.0 percent, which would reflect a drop in the participation rate among those without jobs.”
But let’s tout 8.6% (to be revised up in Jan) anyway.
I’m sure people wont notice the reality around them. /s
ROFL
yeah right !
our government is LYING to us!
These are not the jobs you’re looking for....
“These numbers are not to be trusted.”
I doubt anyone, other than MSNBC, will look at this as anything more than BS.
140,000 jobs, which will be downgraded next week, reflects a 0.4% decrease in the unemployment rate?
And so, with only 11 months to the election, the massaging of the numbers begins in earnest...
I’m kind of surprised the BLS is posting such a drop from last month in the unemployment rate. One would think the drops would be more incremental to appear credible.
“These numbers are not to be trusted.”
Agree, and then there was the report yesterday about unemployment up, and back over the 400,000 mark again.
I’m with you. I call BS on this one.
Sounds like it’s one of those “seasonally adjusted” things.
Yeah, “election season.”
I saw on Drudge that 315000 Americans left the work force..
The actual numbers don't matter; only favorable numbers will be reported.
8.6%...a 0.4% drop?
For the last three months, the weekly unemployment claims have consistently been near 400K (except for two weeks, which were still over 385K) and only 120K jobs were created, BUT that equals a .4% drop in the unemployment number?
The ONLY way this number has dropped that much is if a VERY LARGE portion of job seekers have simply STOPPED LOOKING!!
Mike
Christmas surge in hiring - will drop again after the Holidays.
Imagine when jobs are really created after this Bozo is gone. The way they manipulate the figures now, they’ll have to say unemployment is zero. That’ll never happen, however.
You are correct. Just as we use a bogus method to justify spending with baseline budgeting, we also use bogus methods to calculate unemployment rates.
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