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U.S. economy added 178,000 jobs in November; unemployment rate dropped to 4.6 percent
Washington Post ^ | 12/02/2016 | Ana Swanson

Posted on 12/02/2016 6:50:15 AM PST by SeekAndFind

The U.S. economy added 178,000 jobs in November, and the unemployment rate fell to 4.6 percent from 4.9 percent the previous month, according to new government data released Friday morning.

The first employment report after a contentious presidential election in which the candidates expressed diverging views of the health and direction of the economy showed a job market that is continuing to steadily strengthen from the recession.

“Overall, it’s a labor market that is continuing to improve, that has a decent momentum,” said Josh Feinman, chief global economist at Deutsche Asset Management. “So that’s certainly encouraging.”

Economists surveyed by Bloomberg News had expected U.S. employers to create 180,000 new jobs last month -- roughly in line with the average number added in the first 11 months of the year.

The unemployment rate fell to levels not seen since August 2007, before a bubble in the U.S. housing market began to burst. The fall was driven partly by the creation of new jobs and partly by people retiring and otherwise leaving the labor force. The labor force participation rate ticked down to 62.7 percent last month.

Average hourly earnings declined by 3 cents to $25.89. The decrease pared back large gains seen in October, but over the year, average hourly earnings are still up 2.5 percent, the Bureau of Labor Statistics said.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Front Page News
KEYWORDS: jobs; unemployment
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To: SeekAndFind

If the US economy adds ONLY 178,000 jobs in February 2017 (hint: the first month of the Trump administration), it will be called “the worst jobs report since the Great Depression”.


21 posted on 12/02/2016 7:11:42 AM PST by norwaypinesavage (always)
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To: SeekAndFind

Lets see: 50 million people went out to look for work, add that to the 8 years of running total and you get, 4.6%...

They do common core math that’s why this doesn’t add up...and I hear that they think that with Trump the rate will go over 9%...never in the History of America has that happened...

Since Trump was elected the stock market is raising, and everything is looking great...and they said it couldn’t be done...ROFL!!!


22 posted on 12/02/2016 7:12:07 AM PST by HarleyLady27 ('THE FORCE AWAKENS!!!' Trump/Pence: MAKE AMERICA GREAT AGAIN!!!)
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To: SeekAndFind

Read the small print.

Only 9000 full time jobs.

This number will not be mentioned by either the LSM or the White House.


23 posted on 12/02/2016 7:12:16 AM PST by Herodes
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To: SeekAndFind

FAKE NEWS!


24 posted on 12/02/2016 7:14:39 AM PST by pgkdan (The Silent Majority Stands With TRUMP!)
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To: SeekAndFind

This is such BS!..............When trump takes office and the real numbers start coming out, the media twerps will blame him for the high unemployment numbers! Mark my word!..................


25 posted on 12/02/2016 7:17:03 AM PST by Red Badger
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To: rktman

The NK media has nothing on these guys.................


26 posted on 12/02/2016 7:17:35 AM PST by Red Badger
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To: jennychase

This book has continuously been in print since like 1950 or so. I have a copy from then. It is fascinating, in that the authors, probably long since dead, reveal exactly how to manipulate data to show anything, prove anything, disprove anything, or whatever you want to do with the data...................I would bet that just about every bureaucrat in DC has a copy in their desk drawer............

27 posted on 12/02/2016 7:22:34 AM PST by Red Badger
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To: Steely Tom

I wonder how many of those ‘new jobs’ are just numbers pulled from their nether regions for the sake of the POTUS?...............


28 posted on 12/02/2016 7:27:38 AM PST by Red Badger
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To: jennychase

https://en.wikipedia.org/wiki/How_to_Lie_with_Statistics


29 posted on 12/02/2016 7:28:33 AM PST by Red Badger
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To: SeekAndFind

We’d like to see falling unemployment, rising participation, and rising real wages. While unemployment fell, participation fell and real wages also fell. Among the problems we have to too many job seekers with useless college educations, and jobs that require skills.


30 posted on 12/02/2016 7:29:49 AM PST by Redmen4ever
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To: revivaljoe

Nuh uh. The lyin’ king himself said there isn’t a single segment of the economy that isn’t better off today than when he assumed the office. Of course I believe him. He wouldn’t lie to us would he?


31 posted on 12/02/2016 7:30:13 AM PST by rktman (Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?!)
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To: rktman

Only on days that end in y.


32 posted on 12/02/2016 7:30:56 AM PST by sport
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To: GoldenPup

When the same thing happens to Trump the headline will be jobs report disappoints again.


33 posted on 12/02/2016 7:31:53 AM PST by epluribus_2 (he had the best mom - ever.)
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To: SeekAndFind

Obama admin still making up sh!t out of thin air.

What really irks, is that libs will still be clinging to these fake numbers years from now.


34 posted on 12/02/2016 7:32:30 AM PST by Windflier (Pitchforks and torches ripen on the vine. Left too long, they become black rifles.)
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To: SeekAndFind

If the entire drop in the rate of 0.3% came from the increase of 178,000 jobs that would imply that there are only 178,000 / 0.003 = 59 million workers. So something else even bigger than the 178,000 new jobs must be in play. Could it be a huge drop in the labor force as people drop out?


35 posted on 12/02/2016 7:33:57 AM PST by KarlInOhio (" T'was the witch of November come stealin' " And who could the stealing Witch of November be? Hmm?)
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To: SeekAndFind
U.S. economy added 178,000 jobs in November;

And that's just in paid anti-Trump protestors.

Say, government data releasers, what is the Labor Participation Rate down to? Or up to?

36 posted on 12/02/2016 7:34:40 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: SeekAndFind
The labor force participation rate ticked down to 62.7 percent last month.

How does that jibe with a 4.6% unemployment rate?

37 posted on 12/02/2016 7:35:56 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: KarlInOhio
Here's what they don't tell you

Americans Not In The Labor Force Soar To Record 95.1 Million: Jump By 446,000 In One Month

So much for that much anticipated rebound in the participation rate.

After it had managed to post a modest increase in the early part of the year, hitting the highest level in one year in March at 63%, the disenchantment with working has returned, and the labor force participation rate had flatlined for the next few month, ultimately dropping in November to 62.7%, just shy of its 35 year low of 62.4% hit last October. This can be seen in the surge of Americans who are no longer in the labor force, who spiked by 446,000 in November, hitting an all time high of 95.1 million.

As a result of this the US labor force shrank by 226,000 to 159,486K, down from 159,712K a month ago, and helped the unemployment rate tumble to 4.6%, the lowest level since August 2007.

Adding the number of unemployed workers to the people not in the labor force, there are now over 102.5 million Americans who are either unemployment or no longer looking for work.


38 posted on 12/02/2016 7:36:32 AM PST by SeekAndFind
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To: Texas Eagle

Where The November Jobs Were: Accountants, Nurses, Waiters, Government And Part-Time Workers

Something remains very broken with the US labor market: while the unemployment rate just dropped to the lowest since August 2007, wage growth dropped as well and on a year over year basis, rose just 2.5%, far below the 3.8% it was when the unemployment rate last hit 4.7%. This continues to vex economists who have vowed that if only one lowers the unemployment rate far enough, all the slack in the labor market will be soaked up. Alas, that is not happening, for several reasons, the chief of which is that the quality of jobs added remains subpar, with wage growth - especially for less than "supervisory" and management positions - declining. Furthermore, as noted earlier, both part-time jobs and multiple jobholders have been surging in recent months, ostensibly as a result of Obamacare pressures.

Still, according to the BLS at least, some 178,000 seasonally adjusted jobs were added in November, arbitrarily goalseeked as they may have been. Where were they?  Here is the answer:

The visual summary is below:


39 posted on 12/02/2016 7:39:02 AM PST by SeekAndFind
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To: revivaljoe

Those 446,000 Americans who dropped out of the labor force last month are considered non-persons by the government. They don’t exist. They never existed.

In other news, the chocolate ration was increased to 25 grams from last month’s 30.


40 posted on 12/02/2016 7:46:14 AM PST by Deo volente ("Our Independence Day is at hand, and it arrives finally on November 8th." Donald Trump)
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