Unemployment Falls to 8.6 Percent as More Quit Seeking Jobs

Discussion in 'Current Events' started by Calminian, Dec 2, 2011.

  1. Calminian

    Calminian New Member

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    This is the real story unfortunately. :???:

    Unemployment Falls to 8.6 Percent as More Quit Seeking Jobs

    The U.S. unemployment rate fell last month to its lowest level in more than two and a half years as employers stepped up hiring in response to the slowly improving economy.

    The Labor Department said Friday that the unemployment rate dropped to 8.6 percent last month from 9 percent in October. The rate hasn't been that low since March 2009, during the depths of the recession.

    Still, 13.3 million Americans remain unemployed. And a key reason the unemployment rate fell so much was because roughly 315,000 people had given up looking for work and were no longer counted as unemployed.

    The presidential election is less than a year away, which means President Barack Obama will almost certainly face voters with the highest unemployment rate of any president since World War II. Rival Republicans have made the nation's joblessness a key campaign issue.

    Meanwhile, Europe's financial crisis threatens to slow U.S. growth next year. A recession in Europe could reduce U.S. exports, hurt global financial markets and dampen business confidence.

    Employers added 120,000 jobs last month. And the previous two months were revised up to show that 72,000 more jobs added — the fourth straight month the government revised prior months higher.

    Private employers added a net gain of 140,000 jobs last month. Governments, meanwhile, shed another 20,000 jobs, mostly at the local and state level. Governments at all levels have shed almost a half-million jobs in the past year.

    More than half the jobs added were by retailers, restaurants and bars, a sign that holiday hiring has kicked in. Retailers added 50,000 jobs, the sector's biggest gain since April. Restaurants and bars hired 33,000 new workers. The health care industry added 17,000.

    Paul Ashworth, an economist at Capital Economics, estimates that the economy will expand 2.5 percent in the last three months of this year. But he expects growth to slow to 1.5 percent in 2012, partly because of the crisis in Europe. And if Congress fails to extend the Social Security tax cut and long-term unemployment benefits this month, growth is likely to slow even further.

    Weak job growth means companies don't have to raise pay to keep their employees. Fewer jobs and lower pay leaves consumers with less money to spend. That's holding back economic growth.

    In the past three months, the economy has added an average of 143,000 net jobs per month. That's enough to keep up with population growth and better than the previous three months, when the economy averaged just 84,000.

    Other recent economic reports have been positive, too.

    Factory output expanded last month. Retailers reported a strong start to holiday sales over the Thanksgiving weekend, consumer confidence surged in November to the highest level since July, and Americans' pay rose in October by the most in seven months.

    Car sales also rose sharply in November, normally a lackluster month for the auto industry. Chrysler, Ford, Nissan and Hyundai all reported double-digit gains on Thursday, compared to a year ago.
     
  2. The Mello Guy

    The Mello Guy Well-Known Member

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    uh huh....its probably just those lazy govt workers who have given up looking.

    why do righties keep trying to fire more people then scream about the unemployment
     
  3. DonGlock26

    DonGlock26 New Member Past Donor

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    Sounds like a tsunami of Obamanomics is gripping the country
     
  4. Roelath

    Roelath Well-Known Member

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    Just looking at the figures from the Government website we can see...

    278,000 increase in Employment.
    150,000 increase to those unemployed but, looking for a Job.
    487,000 increase to those no Longer in the Labor Force (Doesn't get included?).

    Just by looking at it is simply a net loss when you take in all factors rather than simply looking at who is in the Labor Force currently (This only included people looking). The figures themselves were based around figures that were distorted by the Holiday Season.
     
  5. The Mello Guy

    The Mello Guy Well-Known Member

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    why would we include people who arent even looking for a job as pepple who want a job?

    its hard to find something y oure not looking for isnt it?
     
  6. Ironball

    Ironball New Member

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    No.........it's probably folks who just gave up due to Obamanomics.

    Most of the hires were holiday hires. We will have to see what happens after the new year.

    Why does the fool Obama keep whining to "pass my jobs bill" while killing jobs in domestic energy and fossil fuels? The moratorium in the Gulf, the XL Pipeline deal with Canada, Ohio natural gas............

    A Lefty killing jobs and firing people in the energy sector....and then "screaming" about unemployment.
     
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  7. Ironball

    Ironball New Member

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    Because they are casualties of the Obama economy and harmful policies of his administration.
     
  8. raymondo

    raymondo Banned

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    Does that mean the full , true and real unemployment figure has fallen below 20% at last?
    Why don't you insist that the Government shows the figure for all people without a job ?
     
  9. darckriver

    darckriver New Member Past Donor

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    I'm fully confident that we are going to be bombarded with some very creative statistics in the next year - by both political parties. Sounds rather nauseating.
     
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  10. Calminian

    Calminian New Member

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    Sorry to disappoint. :frown:

    I'm really hoping Newt (or Rom) doesn't inherit anything to bleak.
     
  11. The Mello Guy

    The Mello Guy Well-Known Member

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    so whenever someone cant find a job its the presidents fault? I was unemployed for a minute back in 2005.....why did bush allow that?

    dont you listen to Herm? if youre not rich, its youre fault, not the presidents.
     
  12. The Mello Guy

    The Mello Guy Well-Known Member

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    right, because anything that creates a job is automatically good.....maybe we can let some legal meth labs open and put some cooks to work
     
  13. TheLastBoyScout

    TheLastBoyScout New Member

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    LOL...

    Look at all the instances of good news in the OP quote.

    Only the caveats are highlighted. Yes, if you read and take it all into account, you can get an accurate picture. The economy is growing.
     
  14. Calminian

    Calminian New Member

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    Man I miss Bush. Member those days? Unemployment averaged 5%. Gas under $3. Why'd you even have to mention that??
     
  15. darckriver

    darckriver New Member Past Donor

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    Yep - more firemen, too. One other positive side effect - massive numbers of tweakers probably wouldn't live to old age, thus easing the burden on Medicare/Obamacare and Social Security. You may have hit on THE solution to our economic worries.
     
  16. Calminian

    Calminian New Member

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    Or as another article put it.

    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.
    “You’d like to see the unemployment rate coming down when people are coming into the job market, not disappearing,” James Glassman, senior economist at JP Morgan Chase & Co. in New York, said in an interview on “Bloomberg Surveillance” with Tom Keene. “That’s probably exaggerating the trend in unemployment.”

    source

    Honestly I wish this were good news. But this is not the way I want to see the unemployment rate dropped.
     
  17. The Mello Guy

    The Mello Guy Well-Known Member

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    lol still didnt notice it was a bubble? I guess the massive collapse missed you
     
  18. The Mello Guy

    The Mello Guy Well-Known Member

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    you wish it were good news but only post the bad news from your link?

    lets look at the parts you didnt post....even though you wish it were good news lol

     
  19. Eighty Deuce

    Eighty Deuce New Member Past Donor

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    When Obummer took office, the Labor Force Participation Rate was 65.7.

    Now it is down to 64.0. And dropping further.

    Just with the same LFPR he inherited, Unemployment would be 10.3 today. Not 8.6.

    Obamanomics. I pee on your leg. It is raining.
     
  20. Kingofwow

    Kingofwow New Member

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    The so-called underemployment rate -- which includes part- time workers who’d prefer a full-time position and people who want work but have given up looking -- decreased to 15.6 percent from 16.2 percent.

    So you're saying Obama should go in front of the cameras and tell people the good news, that some economist someplace estimates the real unemployment rate is only %15.6????

    Yet we know where you are coming from when you compare good energy jobs to what again??

    right, because anything that creates a job is automatically good.....maybe we can let some legal meth labs open and put some cooks to work

    That is right, I guess to the looney left nutcases and obama supporters believe that energy jobs equate to "Meth Labs"????
     
  21. Foolardi

    Foolardi Well-Known Member Past Donor

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    The Country is on to Obama and these Drat Lying Democrats.
    They Fix Nothing.They cure nothing.They just cause problems for
    average Americans and instigate.They Instigated in order to Pass
    ObamaCare.Imagine having to literally LIE and say the " N "
    word was used to passing Black Congressman and they were even
    spat upon.That is the level to which Drat Dimocrats are willing to
    dig in order to win the day.No better than common sewer-dwelling Rats,
    these ... >

    DimOCrats :puke:
     
  22. The Mello Guy

    The Mello Guy Well-Known Member

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    and everyone knows the day a president takes office hes in full control of every aspect of the nation

    except for on 911....thats someone elses fault
     
  23. Eighty Deuce

    Eighty Deuce New Member Past Donor

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    My post did not assign blame. It only reported the actual numbers.
     
  24. The Mello Guy

    The Mello Guy Well-Known Member

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    "Obamanomics. I pee on your leg. It is raining."

    it implied it
     
  25. Eighty Deuce

    Eighty Deuce New Member Past Donor

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    Apparently there is a glitch in your logic. That is not a statement that assesses, or even implies, blame. It means that things are not as presented. That if you want to see the truth, you must not take my word for it, but rather trust your eyes.

    Snipe much, btw ;)
     

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