Dave_In_Norfolk Posted December 2, 2011 Share Posted December 2, 2011 http://www.nytimes.com/2011/12/03/business/economy/us-adds-120000-jobs-unemployment-drops-to-8-6.html?_r=1&hp Economy seems headed in the right direction finally. This could just be a small blip, or it could be the beginning of a solid move towards a much better employment picture. If this trend continues through the next year it will have a big impact on the election Pretty strange considering how bad the rest of the world is. But the USA has pretty gifted leadership Link to comment Share on other sites More sharing options...
KD in CA Posted December 2, 2011 Share Posted December 2, 2011 More people falling into the "they gave up looking for a job so we won't count them as unemployed anymore" bucket, huh? Whoopie!! Link to comment Share on other sites More sharing options...
meazza Posted December 2, 2011 Share Posted December 2, 2011 (edited) I don't want to work... progress! Nonfarm payrolls rose by 120,000 last month, the Labor Department said Friday. New data also showed bigger jobs gains for October and September than previously estimated, painting a more positive picture of job growth in recent months than previously thought. The jobless rate, obtained by a separate survey of American households, fell to 8.6% in November from the previous month's 9.0%. The drop, however, was due partly to a shrinking of the labor force, with fewer people seeking jobs. Figured you didn't see that little tidbit Dave. Edited December 2, 2011 by meazza Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted December 2, 2011 Author Share Posted December 2, 2011 Partly, we understand that word? I know this is bad news to you guys, but come on, can't you at least pretend to be happy over all those thousands of jobs created? Gees...what losers Link to comment Share on other sites More sharing options...
....lybob Posted December 2, 2011 Share Posted December 2, 2011 (edited) Partly, we understand that word? I know this is bad news to you guys, but come on, can't you at least pretend to be happy over all those thousands of jobs created? Gees...what losers To me the following is important than the unemployment numbers which like inflation numbers are highly suspect as a truthful indicator. That left the share of Americans actively participating in the work force at a historically depressed 64 percent, down from 64.2 percent in October. Edited December 2, 2011 by ....lybob Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted December 2, 2011 Author Share Posted December 2, 2011 To me the following is important than the unemployment numbers which like inflation numbers are highly suspect as a truthful indicator. Good point! Most of the jobs lost have been in the public sector. Local and state governments shed jobs left and right during the recession and they have not come back, and the private sector has not picked up the slack, though they private sector has returned to pre- recession levels of employment A lot of people are also retraining right now and will fill jobs that are open now when they are ready to Link to comment Share on other sites More sharing options...
Bronc24 Posted December 2, 2011 Share Posted December 2, 2011 Sad that "8.6%" and "good news" are put in the same sentence. Link to comment Share on other sites More sharing options...
B-Large Posted December 2, 2011 Share Posted December 2, 2011 Good news is good news. The question I continue to ask myself, perhaps others are asking as well: Exactly where is the growth going to come from in the near future to bring that number down anymore? Our best streaks have been the Tech Bubble and Housing Bubble... where is the next boom/bust cycle going to come from? To me, and I am no scholar, but there has to be another easy money machine somewhere in the midst for this economy to get heated up again.... I just don't see it anywhere..... Don't employment numberd typically do better around the holidays anyway? Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted December 2, 2011 Author Share Posted December 2, 2011 Sad that "8.6%" and "good news" are put in the same sentence. Maybe it will be 6 % by next september Link to comment Share on other sites More sharing options...
B-Large Posted December 2, 2011 Share Posted December 2, 2011 Sad that "8.6%" and "good news" are put in the same sentence. Better than "9.4" and "good news", right? Maybe it will be 6 % by next september Obama and his team are praying for under 8%.... I think that number is pretty important to his campaign.... Link to comment Share on other sites More sharing options...
meazza Posted December 2, 2011 Share Posted December 2, 2011 Good news is good news. The question I continue to ask myself, perhaps others are asking as well: Exactly where is the growth going to come from in the near future to bring that number down anymore? Our best streaks have been the Tech Bubble and Housing Bubble... where is the next boom/bust cycle going to come from? To me, and I am no scholar, but there has to be another easy money machine somewhere in the midst for this economy to get heated up again.... I just don't see it anywhere..... Don't employment numberd typically do better around the holidays anyway? As GG said in the QE3 thread, until housing picks up, the economy will pickup at a snails pace. The current European crisis and the mis-handling it by Europe's leaders is also not going to help business confidence. Link to comment Share on other sites More sharing options...
B-Large Posted December 2, 2011 Share Posted December 2, 2011 As GG said in the QE3 thread, until housing picks up, the economy will pickup at a snails pace. The current European crisis and the mis-handling it by Europe's leaders is also not going to help business confidence. So what your saying is we should have had a comprehensive plan to deal with the housing market 3 years ago, even if that meant fastaking foreclosures and short sales and what not so the economy could actually recover instead of remain stagnant with housing as an anchor dragging at the bottom of the ocean? You're crazy, man.... I like you.... but you're crazy..... but basically, yeah, I agree- Link to comment Share on other sites More sharing options...
Bronc24 Posted December 2, 2011 Share Posted December 2, 2011 Better than "9.4" and "good news", right? Obama and his team are praying for under 8%.... I think that number is pretty important to his campaign.... I suppose...but unemployment is 3.7% in my province, so I suppose "good news" is a relative term. Link to comment Share on other sites More sharing options...
/dev/null Posted December 2, 2011 Share Posted December 2, 2011 Sad that "8.6%" and "good news" are put in the same sentence. To the Obamabots, Lessbad is Morebettergood Link to comment Share on other sites More sharing options...
meazza Posted December 2, 2011 Share Posted December 2, 2011 I suppose...but unemployment is 3.7% in my province, so I suppose "good news" is a relative term. Damn Albertan. It's 7% here but it's colder where you are Link to comment Share on other sites More sharing options...
Just Jack Posted December 2, 2011 Share Posted December 2, 2011 I'm part of that 8.6%. I looked into a seasonal job, but I would need to take 2-3 jobs just to make what I can get on unemployment. I've already got something lined up for mid-January, so I'll sit at home until that starts. Link to comment Share on other sites More sharing options...
Wacka Posted December 2, 2011 Share Posted December 2, 2011 The "Official" California unemployment rate is 11.7%. When you count people who have given up and people who are underemployed, it is more like 18-20%. Real "good" news here. Link to comment Share on other sites More sharing options...
IDBillzFan Posted December 2, 2011 Share Posted December 2, 2011 The "Official" California unemployment rate is 11.7%. When you count people who have given up and people who are underemployed, it is more like 18-20%. Read this earlier today and got a chuckle: "Christmas lights remind me of the people who voted for obama: They hang together; half of them don't work, and the ones that do, aren't that bright." Link to comment Share on other sites More sharing options...
Nanker Posted December 2, 2011 Share Posted December 2, 2011 Right-Wing-Conservative-Rag tells more of the story. Roughly 315,000 fewer Americans actively sent out resumés and answered job ads than the months before. That made the official unemployment rate look better. But what happens to those Americans who drop out? Where do they go? The number of workers who want a job but aren't counted in the labor force rose by 110,000 last month, and has risen since last November to about 6.1 million people. All told, roughly 2.6 million Americans have been actively looking for work in the past year, but aren't counted in the stats because they weren't looking in the past four weeks. If those people do start answering ads, the unemployment rate could rise again. But that still leaves millions of workers out there who would like a job but have been too discouraged to keep looking or have given up entirely. Link to comment Share on other sites More sharing options...
Koko78 Posted December 2, 2011 Share Posted December 2, 2011 Obama and his team are praying for under 8%.... I think that number is pretty important to his campaign.... It's so important to his administration that his campaign team is working diligently at manipulating the data to reach 8% by election day! Link to comment Share on other sites More sharing options...
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