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Thread: U.S. Jobless Rate Unexpectedly Declines to 8.6%

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    U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Unemployment in the U.S. unexpectedly dropped in November to a two-year low, while employers added fewer workers than projected and earnings eased, indicating the labor market is making limited progress.

    The jobless rate declined to 8.6 percent, the lowest since March 2009, from 9 percent, Labor Department figures showed today in Washington. Payrolls climbed 120,000, with more than half the hiring coming from retailers and temporary help agencies, after a revised 100,000 rise in October that was more than initially estimated. The median estimate in a Bloomberg News survey called for a gain of 125,000.

    Companies like DirectTV have said they will keep a tight rein on spending and employment in 2012, reflecting concern over the outlook for demand, Europe’s debt crisis and the U.S. deficit. The scant number of jobs is limiting wage gains and restraining consumers’ ability to boost spending, which accounts for about 70 percent of the economy.

    “The labor market is showing very gradual progress, but it is progress,Stephen Stanley chief economist for Pierpont Securities LLC in Stamford, Connecticut said before the report. “Things are getting a little bit better on the economy. Firms are hiring but staying trim.”

    U.S. Jobless Rate Unexpectedly Declines to 8.6% - Bloomberg

    Good news for everybody except Gingrich/Romney. These economists are becoming laughable with their predictions as it seems almost every job report misses expectations and is later revised by 2 standard deviations. This one they were "right on" as payrolls came in as expected at 120k but the unemployment rate unexpectedly decline. Some pessimists are attributing this to a decline in the labor force. Either way, unemployment rate is now below 9%, the lowest it's been since it peaked at 10.1% back in March 2009.
    Last edited by Rhapsody1447; 12-02-11 at 10:00 AM.
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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Rhapsody1447 View Post

    U.S. Jobless Rate Unexpectedly Declines to 8.6% - Bloomberg

    Good news for everybody except Gingrich/Romney. These economists are becoming laughable with their predictions as it seems almost every job report misses expectations and is later revised by 2 standard deviations. This one they were "right on" as payrolls came in as expected at 120k but the unemployment rate unexpectedly decline. Some pessimists are attributing this to a decline in the labor force. Either way, unemployment rate is now below 9%, the lowest it's been since it peaked at 10.1% back in March 2009.

    Either they are duping America, or not counting some people that absolutely be counted, or I don't know what, because I sure don't see the problem getting better.

    They tinker around with these stats in DC to the point where no one is telling the truth any more. I am disappointed in the lies.

    j-mac
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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Rhapsody1447 View Post

    U.S. Jobless Rate Unexpectedly Declines to 8.6% - Bloomberg

    Good news for everybody except Gingrich/Romney. These economists are becoming laughable with their predictions as it seems almost every job report misses expectations and is later revised by 2 standard deviations. This one they were "right on" as payrolls came in as expected at 120k but the unemployment rate unexpectedly decline. Some pessimists are attributing this to a decline in the labor force. Either way, unemployment rate is now below 9%, the lowest it's been since it peaked at 10.1% back in March 2009.
    That's because people have fallen off of unemployment and aren't looking for work - so they are no longer counted.

    It's an illusion - it does not mean that all those people actually *found* employment.
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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    seasonal employment due to the holidays.......happens every year

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Everything you guys said is true. Almost all the pundits attribute it to the decline in the labor force from 64.2% to 64% and from the article: "Payrolls climbed 120,000, with more than half the hiring coming from retailers and temporary help agencies, after a revised 100,000 rise in October." I agree with you 100% j-mac as I pointed out the stupidity of the estimates and the unreliability of the numbers in my OP. Here are some very telling charts from the report. Sorry for the HUGE images:

    Persons Who Want A Job Now.jpgAverage Duration Of Unempllyment.jpgNot im Labor Force.jpgParticipation Rate.jpg

    Unfortunately most people don't care to understand this part. It's a great political talking point to say the unemployment rate is at it's lowest since 2009 and under 9%
    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    unemployment numbers are meaningless until they count everyone who is unemployed.

    i can see excluding those who genuinely don't want to work or cannot work. but those who want a job and can't find one have to be counted.

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    I agree, they aren't counting all they should. However, I have seen some progress in our area. A couple of new small businesses are going into a fairly stagnant small town, and I do see some big construction projects in several areas. Construction = jobs.
    "The measure off intelligence is the ability to change." Albert Einstein

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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Rhapsody1447 View Post
    Everything you guys said is true. Almost all the pundits attribute it to the decline in the labor force from 64.2% to 64% and from the article: "Payrolls climbed 120,000, with more than half the hiring coming from retailers and temporary help agencies, after a revised 100,000 rise in October." I agree with you 100% j-mac as I pointed out the stupidity of the estimates and the unreliability of the numbers in my OP. Here are some very telling charts from the report. Sorry for the HUGE images:



    Unfortunately most people don't care to understand this part. It's a great political talking point to say the unemployment rate is at it's lowest since 2009 and under 9%

    Absolutely. And the talking point starts out with the election season about to go into primary voting is no mistake. This is a political move by MSM to shore up a President who has been a complete disaster for this country economically. consider this:

    The unemployment rate, derived from a separate survey of households, was forecast to hold at 9 percent. The decrease in the jobless rate reflected a 278,000 gain in employment at the same time 315,000 Americans left the labor force.

    U.S. Jobless Rate Unexpectedly Declines to 8.6% - Bloomberg
    That's 315K right there no longer counted. I guess they don't count anymore...Are they even still here?


    j-mac
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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by rosie1 View Post
    I agree, they aren't counting all they should. However, I have seen some progress in our area. A couple of new small businesses are going into a fairly stagnant small town, and I do see some big construction projects in several areas. Construction = jobs.
    Construction is one indicator, another good local indicator for an area is if there are new bank branches opening up in an area. Banks = money flow into an area economy.

    j-mac
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    Re: U.S. Jobless Rate Unexpectedly Declines to 8.6%

    Quote Originally Posted by Rhapsody1447 View Post

    U.S. Jobless Rate Unexpectedly Declines to 8.6% - Bloomberg

    Good news for everybody except Gingrich/Romney. These economists are becoming laughable with their predictions as it seems almost every job report misses expectations and is later revised by 2 standard deviations. This one they were "right on" as payrolls came in as expected at 120k but the unemployment rate unexpectedly decline. Some pessimists are attributing this to a decline in the labor force. Either way, unemployment rate is now below 9%, the lowest it's been since it peaked at 10.1% back in March 2009.
    Of course the unemployment rate is sharply down. People are hiring for Christmas. After the holidays, watch it climb back up again.
    The ghost of Jack Kevorkian for President's Physician: 2016

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