Jobs up, Unemployment down

[Monster]

Job creation jumped 120K in the past month and unemployment dropped .4% down to 8.6%.

 

[tsmith7559]

lol......40%(50,000) of the 120,000 were for retail(majority of them seasonal).

400,000 were taken off the total unemployment numbers because they have given up looking for work, thereby the govt uses the decrease in workforce to factor in the rate, ie, unemployment has changed at all.
the fact is you need to have more than 120,000 just to maintain employment

 

[tycobb420]

b/c of Xmas jobs, we won't have a good look at the picture until Feb.

 

[Monster]

b/c of Xmas jobs, we won't have a good look at the picture until Feb.

nope. just putting out the stats for November.

 

[tsmith7559]

I'm just reporting...

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, a move which in part reflected a drop in those looking for jobs. The participation rate dropped to 64 percent, from 64.2 percent in October, representing 315,000 fewer job-seekers.


The drop in participation rate is significant in that had the labor force remained steady, the jobless rate would have dropped to 8.8 percent, according to Citigroup calculations. If the labor force had followed trend growth, unemployment would be at 8.9 percent.

"Overall, the continued modest employment gains reflect an economy that plods along at an uninspiring pace," Kathy Bostjancic, director of macroeconomic analysis at The Conference Board, said in a statement. "These modest job gains are still not enough to propel economic growth to a sustainable 2 percent-plus growth path."

"When the unemployment rate declines, we want to see both employment and participation increase as discouraged workers return to the labor force. Today, we got the former, but not the latter, making the 0.4 percent drop look a bit suspect," Neil Dutta, US economist at Bank of America Merrill Lynch, told clients. "We would not be surprised to see the unemployment rate give back some of its decline in the coming month(s)."

Average earnings were essentially flat, up two cents to $23.18 an hour.

Government payrolls fell 20,000, including a 4,000 drop in federal positions.



Long-term unemployment remains a big problem: The average duration for joblessness surged to a record-high 40.9 weeks. Stagnation in wages also continues, as more employed workers took on second jobs. There were just under seven million multiple job-holders for the month, the highest total in 2011 and the most since May 2010.

Traders offered little reaction to the report. Futures already had been indicating a positive open but lost some ground in the ensuing minutes after the Labor Department report hit the tape.

"At this pace of job growth, it will be more than two decades before we get back down to the pre-recession unemployment rate. Moreover, a shrinking labor force is not the way we want to see unemployment drop," said Heidi Shierholz, economist at the Economic Policy Institute. "At this rate of growth we are looking at a long, long schlep before our sick labor market recovers."

 

[deathroh]

I'm just gloating.....

 

[tsmith7559]

I'm just gloating.....

Hardly, I'm doing everything possible to put a person in the WH who has a clue on the economy, budgets and the constitution


It's the press that is gloating today...why?

 

[johnny2x2x]

The 3 month average for job growth is 143,000. Not great numbers, but it is enough to show real and tangible job growth. That's 21 months in a row of private sector job growth. Incidentally, under "Big Gubamint" Obama, the government has shrunk, cutting 500,000 from payrolls in the last year alone.

Stat of the day: Unemployment was 8.5% for November, 1983. I forget, how did Reagan do in the following year's elections again?

I know FOX is trying desperately to spin these numbers as bad, we are hearing their propaganda here word for word as usual, but it's good news for the Country, just bad news for Republicans.

 

[tsmith7559]

the 3 month average for job growth is 143,000. Not great numbers, but it is enough to show real and tangible job growth. That's 21 months in a row of private sector job growth. Incidentally, under "Big Gubamint" Obama, the government has shrunk, cutting 500,000 from payrolls in the last year alone.

Sat of the day: Unemployment was 8.5% for November, 1983. I forget, how did Reagan do in the following year's elections again?

I know FOX is trying desperately to spin these numbers as bad, we are hearing their propaganda here word for word as usual, but it's good news for the Country, just bad news for Republicans.

Its good if you seek to be a greeter at Wal-Mart

 

[johnny2x2x]

The 8.6% number is seasonally adjusted already. The unadjusted number actually came in at 8.2%. How come FOX News isn't reporting the unadjusted number? I mean they've done it in the past during this administration when it's come in higher than the adjusted numbers.

U6, the broader number which includes the underemployed also dropped .6%. This was due to a drop of 378,000 in the underemployed. This means basically that 378,000 part time workers found full time jobs or had their hours increased to full time.

People leave the job market every month, sure it can help drop the unemployment rate some, but it happens every month and the important number here is that over the last 3 months we've produced 430,000 jobs and that is real growth that is tangible.

 

[tsmith7559]

"Welcome Wal-Mart shoppers"......

 

[byco42]

What about careers? Was there an increase in them? Why have we, in an aggregate way, settled for just having a "job?"

 

[tsmith7559]

all those jobs.....but wages down $0.02...like I said, seasonal low wage jobs..

 

[johnny2x2x]

You've got to walk before you can run. No one is saying this means the economy is good. But this is a good sign and the economy could be turning the corner. I mean think of where we were heading to now. The economy lost 3.8 million jobs in the first 6 months of 2009, we were already in a huge hole before Obama even got a chance to hang pictures in the oval office. We've gone from that to no more losses and now 21 months in a row of gains and 430,000 in 3 months. That's a big big change. We need it to pick up steam if we're going to really change the economy, but it's a positive step.

No one is jumping for joy, we realize there are internals to these numbers that are both good and bad, but over all this is a positive sign for an economy and a country that sorely needs it.

 

[tsmith7559]

You've got to walk before you can run. No one is saying this means the economy is good. But this is a good sign and the economy could be turning the corner. I mean think of where we were heading to now. The economy lost 3.8 million jobs in the first 6 months of 2009, we were already in a huge hole before Obama even got a chance to hang pictures in the oval office. We've gone from that to no more losses and now 21 months in a row of gains and 430,000 in 3 months. That's a big big change. We need it to pick up steam if we're going to really change the economy, but it's a positive step.

No one is jumping for joy, we realize there are internals to these numbers that are both good and bad, but over all this is a positive sign for an economy and a country that sorely needs it.

Obama said "recovery Summer" in April 2010?.....

 

[johnny2x2x]

all those jobs.....but wages down $0.02...like I said, seasonal low wage jobs..

But, it is a seasonally adjusted rate. They take the seasonal hires into account otherwise the rate would have been reported as 8.2%. maybe wages fell because of all the union busting going on in this Country. Who knows, wages do need to increase, but it takes a fair bit of twisting and straining to try to paint this as a negative.

 

[tsmith7559]

all those jobs.....but wages down $0.02...like I said, seasonal low wage jobs..

But, it is a seasonally adjusted rate. They take the seasonal hires into account otherwise the rate would have been reported as 8.2%. maybe wages fell because of all the union busting going on in this Country. Who knows, wages do need to increase, but it takes a fair bit of twisting and straining to try to paint this as a negative.

sure, I guess it could be worse......

 

[johnny2x2x]

You've got to walk before you can run. No one is saying this means the economy is good. But this is a good sign and the economy could be turning the corner. I mean think of where we were heading to now. The economy lost 3.8 million jobs in the first 6 months of 2009, we were already in a huge hole before Obama even got a chance to hang pictures in the oval office. We've gone from that to no more losses and now 21 months in a row of gains and 430,000 in 3 months. That's a big big change. We need it to pick up steam if we're going to really change the economy, but it's a positive step.

No one is jumping for joy, we realize there are internals to these numbers that are both good and bad, but over all this is a positive sign for an economy and a country that sorely needs it.

Obama said "recovery Summer" in April 2010?.....

Yeah, so? Obama is not a god, he cannot predict everything, he can only do what he thinks is best for the economy and then hope it's enough. I'm sure they were hoping 2010 would go better and maybe some of the experts told him it was going to, but what's important is that things could turn the corner now or in the next 6 months.

Of course Republicans will do absolutely everything in their power to try to prevent a recovery between now and the election, but they may have painted themselves into a corner at this time. But,that's Politics in today's America I guess. I have no doubt that Democrats might try to do some of the same things if it were reversed.

 

[tsmith7559]

the problem with his economic team...... They're all college prof's with theories...NONE, have been in the private sector...NONE....now they're slowly retreating back to Princeton, UC-Berkley & Harvard

 

[johnny2x2x]

the problem with his economic team...... They're all college prof's with theories...NONE, have been in the private sector...NONE....now they're slowly retreating back to Princeton, UC-Berkley & Harvard

The problem with his economic team is there are too many holdovers from the Bush Administration.