WASHINGTON — The U.S. economy added a solid 146,000 jobs in November and the unemployment rate fell to 7.7 percent, the lowest since December 2008. The government said Superstorm Sandy had only a minimal effect on the figures. The Labor Department report offered a mixed picture for the economy. Hiring remained steady during the storm and in the face of looming tax increases. But the government said employers added 49,000 fewer jobs in October and September than initially estimated. And the unemployment rate fell from 7.9 percent in October mostly because more people stopped looking for work and
The headline on Drudge says 540,000 dropped out of the work force - that is why. Gee, if everyone just stopped looking, maybe it would go down to 0%. Barry could be a hero and everyone would be on welfare. No one would care about who pays the bills.
What they fail to mention is 540,000 dropped from the labor force and are not counted among the unemployed. Hence the "improvement". It´s a lie. Don´t look for the truth in the AP or any other mainstream news source, though.
That infestation in our White House - obama -a naional plague of historical proportions seems to have figured out this unemployment problem: Just do all you can to make the economy TANK and soon enough, when you discourage EVERYONE out of the job market, you will have 0% unemployment !!! The plan is working marvelously.
Temporary jobs, for the holiday shopping season. It proves that we can get more money directly into the economy, the jobless rate will fall. Instead, Obama wants to take more money out of the economy, through higher taxes.
The constitutional republic known as the U.S.A. is gone. Everything coming out of Washington, D.C. is a deception. How will you respond to the fact that our republic is gone? Will you roll-over? Millions of illegal immigrants are here and coming in the future. The federal government is lawless.
The AP would describe quicksand as "solid" if it helped Obama. Hotair.com provides reality-
The unemployment rate edged down to 7.7 percent in November. The number of unemployed persons, at 12.0 million, changed little. (See table A-1.)
The U-6 figure also dropped by two-tenths of a point to 14.4%, its lowest level all year. However, the seasonally-adjusted labor force dropped by 350,000, and the civilian labor force participation rate also dropped two-tenths of a point to 63.6%, almost at the 31-year low hit in August. The employment-population ratio dropped by one-tenth of a percent to 58.7%.
In other words, America isn’t going back to work. Americans are still dropping out of the work force.
I see various comments indicating people are confused about the Government jobs numbers. One point is that they adjusted the figures for the prior two months. And as noted on other websites, the government figures for the number of people that " dropped out of the work force ", that is, stopped looking for work, escalated greatly. Added all together, the "Rate" drops, but the total number of people either unemployed or not looking to be employed increases. The percentage of people working in the USA vs the total population of people that could be working is extremely low, probably at a record low, but the HEADLINE posted by MSM supporters of the Administration make it look good, when in fact, it is NOT. It is terrible. Bottom line, never has such a low % of the "able to work" population been actually working. The Government Unemployment rate is a red-herring, a ruse.
Just changing the labor force looking for jobs wasn´t enough. Wall Street reports they went back and revised Sept jobs down from 148,000 to 132,000 and Oct jobs down from 171,000 to 138,000. Voila, those 49,000 jobs get moved to Nov and we get unexpected job growth. Then you reduce participation and, Eureka, unemployment falls! Its an error in judgement to believe anything out of this White House.
Surprise...what happens EVERY year right after the Christmas rush is over ? These 146,000 "SOLID" new jobs are just temporary sales people on the registers at Walmart. Duh. Layoffs will follow of course, with months or years of new unemployment benefits.
FTA: "And the unemployment rate fell to a four-year low in November from 7.9 percent in October mostly because more people stopped looking for work and weren’t counted as unemployed." So AP knows what happened.
Yet, the headline reads: "US economy adds 146K jobs, rate falls to 7.7 %." Guess which point makes it into the heads of Obama and his minions, by design.
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