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Unemployment down to 8.6 percent! - 12/2/2011 6:28:46 AM

Lucylastic

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The unemployment rate fell to a 2-1/2 year low of 8.6 percent in November and companies stepped up hiring, further evidence the economic recovery was gaining momentum.

Nonfarm payrolls increased 120,000 last month, the Labor Department said on Friday, in line with economists' expectations for a gain of 122,000.

The relative strength of the report was also bolstered by revisions to the employment counts for September and October to show 72,000 more jobs created than previously reported.

While part of the decline in the unemployment rate from 9.0 percent in October was due to people leaving the labor force, the household survey from which the jobless rate is derived also showed solid gains in employment

The unemployment rate had been expected to hold at 9 percent. It last dropped by 0.4 percentage point in January.

"The really good news is that employment has grown for four months running -- in large steps. There was a solid increase in private employment. Everything there looks steady, but clearly healthy and positive," said Pierre Ellis, a senior economist at Decision Economics in New York.

http://www.reuters.com/article/2011/12/02/us-usa-economy-idUSTRE7AL14I20111202?feedType=RSS&feedName=topNews&rpc=71

I hope it gets a LOT better..

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Post #: 1

RE: Unemployment down to 8.6 percent! - 12/2/2011 7:29:19 AM

Sanity

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Mnot has been giving the Republican House a lot of credit for the economy of late. Do you think he will keep that trend going in this thread?

Maybe for this, he will:

quote:

YESTERDAY: Jobless claims top 400K...

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RE: Unemployment down to 8.6 percent! - 12/2/2011 7:32:04 AM

Hillwilliam

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I'm just happy things are turning. If it is still turning around in January (with all the seasonal work over) I'll be a damn sight happier.

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Post #: 3

RE: Unemployment down to 8.6 percent! - 12/2/2011 7:59:37 AM

Owner59

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quote:

ORIGINAL: Sanity

Mnot has been giving the Republican House a lot of credit for the economy of late. Do you think he will keep that trend going in this thread?

Maybe for this, he will:

quote:

YESTERDAY: Jobless claims top 400K...

Aaaaaaand...

Consumer confedence jumped the most in November than in almost nine years.

"U.S. Consumer Confidence Index Rises by Most Since April 2003"

As the economy climbs out of your disaster and things get better,President Obama`s numbers will also go up.

As this happens, you republicans won`t be able to help yourselves and are going to continue to act like children.You nuts will look worse and worse and your numbers will fall to one digit levels.

lol

< Message edited by Owner59 -- 12/2/2011 8:00:51 AM >

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RE: Unemployment down to 8.6 percent! - 12/2/2011 8:02:08 AM

tazzygirl

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Some people arent happy no matter what.

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RE: Unemployment down to 8.6 percent! - 12/2/2011 8:02:56 AM

DarkSteven

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It's sad that this is considered a sign of health. We're going to have to get used to a higher unemployment rate structurally.

That said, any signs of improvement whatsoever will help Obama.

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RE: Unemployment down to 8.6 percent! - 12/2/2011 8:24:55 AM

seekerofslut

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If anyone believes these numbers I have a bridge to sell you. Lets look at this from a non-partisan point of view.

1. here

2. here

3. here

It's not getting better. It's getting worse.

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Post #: 7

RE: Unemployment down to 8.6 percent! - 12/2/2011 8:49:22 AM

mnottertail

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quote:

ORIGINAL: Sanity

Mnot has been giving the Republican House a lot of credit for the economy of late. Do you think he will keep that trend going in this thread?

Maybe for this, he will:

quote:

YESTERDAY: Jobless claims top 400K...

Sure, I think the ignominious ineptitude demonstrated by the republicans in the house by their inability to pass bills and thereby not being able to fuck with our economy over much has indeed helped.

Take for instance the 'jobs bills' that wilbur cited, and then was told that by example one was a bill that allowed increase in mercury in our waters, and another allowed increase in ratpoisons in our waters (internally too, DRINKING WATER) would not make the senate, and they didnt, and so now we go from the proud moniker of:

Wal-Mart Republicans

to the even more patriotic moniker:

Rat-Poison Republicans

And it seems that the laserlike homed in analyticals of the teabaggers think that this is gonna get them alot of support in this country and alot of votes.

The much vaunted bloodbath of 12 is shaping up to be a real republican led slaughter.

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RE: Unemployment down to 8.6 percent! - 12/2/2011 8:51:49 AM

Fellow

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Considering unemployment news I usually check what economist M. Shedlock has to say. Here is his blog:
http://globaleconomicanalysis.blogspot.com/2011/12/us-payrolls-rise-modest-120000.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29&utm_content=FeedBurner
It is not good, but we need to deal with the reality. Here is his verdict:
"Given the total distortions of reality with respect to not counting people who allegedly dropped out of the work force, it is easy to misrepresent the headline numbers. Digging under the surface, the drop in the unemployment rate is nothing but a statistical mirage."

(in reply to seekerofslut)

Post #: 9

RE: Unemployment down to 8.6 percent! - 12/2/2011 9:17:19 AM

tazzygirl

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For the second month the labor force rose. This is a welcome sign. However, were it not for people dropping out of the labor force for the past two years, the unemployment rate would be well over 11%.

From your link....

The U6 was 16.2 last month. He isnt saying something I didnt already know

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Post #: 10

RE: Unemployment down to 8.6 percent! - 12/2/2011 9:18:52 AM

mnottertail

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Isn't that the case in any recession that they dont count the drop off the ends of the earths? Unemployment is always understated, even when presidents are republican.

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Post #: 11

RE: Unemployment down to 8.6 percent! - 12/2/2011 9:20:12 AM

tazzygirl

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I gotta love the idea that, because it fell, the credit should go to Congress, and when it rises, its the fault of the President.

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If you want it sugar coated, dont ask me what i think! It would violate TOS.

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Post #: 12

RE: Unemployment down to 8.6 percent! - 12/2/2011 9:20:43 AM

Moonhead

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quote:

ORIGINAL: DarkSteven

It's sad that this is considered a sign of health. We're going to have to get used to a higher unemployment rate structurally.

That said, any signs of improvement whatsoever will help Obama.

Sadly, that's what happens when a country outsources all of its manufacturing to places where they don't have to pay the workforce more than a fiver a week. It hasn't done us any good, either.

Ron, didn't the Chimp try to force through a bill raising the legal level of arsenic in tap water, but was told to fuck off by both houses as this was in his first year of government, before Doctor Doom attacked New York and he saved your nation singlehanded?

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RE: Unemployment down to 8.6 percent! - 12/2/2011 9:21:53 AM

Moonhead

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quote:

ORIGINAL: tazzygirl

I gotta love the idea that, because it fell, the credit should go to Congress, and when it rises, its the fault of the President.

basic political theory if there's a Dim in the Whitehouse, tazzy.

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Post #: 14

RE: Unemployment down to 8.6 percent! - 12/2/2011 9:24:25 AM

tazzygirl

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Yeah, and I dont mind pointing out the obvious stupidity of those types of thoughts.

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Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
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Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

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Post #: 15

RE: Unemployment down to 8.6 percent! - 12/2/2011 9:26:42 AM

mnottertail

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If the rat-poison republicans could fashion legislation that would see that the chronically unemployed would drink that arsnic water, they could go a long way towards resolving the graphing disparity in the unemployment numbers, and decrease the poverty in this country as well as managing healthcare costs for a segment of the american people, but it might raise the specter of ratpoison republican deathsquads anew.

What is your opinion on the matter?

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Have they not divided the prey; to every man a damsel or two? Judges 5:30

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Post #: 16

RE: Unemployment down to 8.6 percent! - 12/2/2011 9:27:40 AM

Moonhead

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Good luck with that. The people who need to think about that one think that they're being objective and unbiased, and everybody else is grinding an idological axe.

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Post #: 17

RE: Unemployment down to 8.6 percent! - 12/2/2011 9:30:00 AM

tazzygirl

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Its fun doing it while having most of them on hide.

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Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to Moonhead)

Post #: 18

RE: Unemployment down to 8.6 percent! - 12/2/2011 9:44:31 AM

willbeurdaddy

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quote:

ORIGINAL: Hillwilliam

I'm just happy things are turning. If it is still turning around in January (with all the seasonal work over) I'll be a damn sight happier.

Not turning as much as they would like you to believe. 300,000 new "not looking" because they have given up were dropped off. So the real rate just counting them is 8.8%. The average duration of unemployment increased to 40.9 months..a full month and a half increase over last month. And of course that is a seasonally adjusted rate...but the workforce has changed dramatically since the data thats used to make seasonal adjustments was gathered.

Unadjusted U-6 dropped .3%, of which 1/2 is likely to be seasonal/part time. So yes, minor improvement. Meanwhile forecasts of GDP growth dropped a full percent.

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RE: Unemployment down to 8.6 percent! - 12/2/2011 10:26:38 AM

Hillwilliam

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quote:

ORIGINAL: willbeurdaddy

quote:

ORIGINAL: Hillwilliam

I'm just happy things are turning. If it is still turning around in January (with all the seasonal work over) I'll be a damn sight happier.

Not turning as much as they would like you to believe. 300,000 new "not looking" because they have given up were dropped off. So the real rate just counting them is 8.8%. The average duration of unemployment increased to 40.9 months..a full month and a half increase over last month. And of course that is a seasonally adjusted rate...but the workforce has changed dramatically since the data thats used to make seasonal adjustments was gathered.

Unadjusted U-6 dropped .3%, of which 1/2 is likely to be seasonal/part time. So yes, minor improvement. Meanwhile forecasts of GDP growth dropped a full percent.

How much of the change do you think is seasonal workers? (thus my comment about January)

_____________________________

Kinkier than a cheap garden hose.

Whoever said "Religion is the opiate of the masses" never heard Right Wing talk radio.

Don't blame me, I voted for Gary Johnson.

(in reply to willbeurdaddy)

Post #: 20

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