Unemployment increases significantly in November

[CitadelGrad]

http://www.gallup.com/poll/159104/unadj ... -back.aspx

U.S. unemployment, as measured by Gallup without seasonal adjustment, was 7.8% for the month of November, up significantly from 7.0% for October. Gallup's seasonally adjusted unemployment rate is 8.3%, nearly a one-point increase over October's rate.

Thank you, President Obama.

[kalm]

I think Gallup (along wih you) had Romney winning too.

US economy adds 146K jobs; jobless rate falls to 4-year low of 7.7 percent; Sandy minor factor

By Christopher s. Rugaber, AP Economics Writer | Associated Press – 35 minutes ago
Email

WASHINGTON (AP) -- The U.S. economy added 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's report Friday offered a mixed picture of 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 it initially estimated.
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.
The report "is something of a mixed bag but, on balance, it's a positive," said Paul Ashworth, an economist at Capital Economics.

http://finance.yahoo.com/news/us-econom ... 51784.html" onclick="window.open(this.href);return false;

[ASUG8]

I think Gallup (along wih you) had Romney winning too.

US economy adds 146K jobs; jobless rate falls to 4-year low of 7.7 percent; Sandy minor factor

By Christopher s. Rugaber, AP Economics Writer | Associated Press – 35 minutes ago
Email

WASHINGTON (AP) -- The U.S. economy added 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's report Friday offered a mixed picture of 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 it initially estimated.
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.
The report "is something of a mixed bag but, on balance, it's a positive," said Paul Ashworth, an economist at Capital Economics.

http://finance.yahoo.com/news/us-econom ... 51784.html" onclick="window.open(this.href);return false;

Does this mean that Gallup's cred has eroded enough that we can ignore KYJelly's Gallup poll charts even more than usual?

[kalm]

I think Gallup (along wih you) had Romney winning too.



http://finance.yahoo.com/news/us-econom ... 51784.html" onclick="window.open(this.href);return false;

Does this mean that Gallup's cred has eroded enough that we can ignore KYJelly's Gallup poll charts even more than usual?

[CitadelGrad]

I think Gallup (along wih you) had Romney winning too.

US economy adds 146K jobs; jobless rate falls to 4-year low of 7.7 percent; Sandy minor factor

By Christopher s. Rugaber, AP Economics Writer | Associated Press – 35 minutes ago
Email

WASHINGTON (AP) -- The U.S. economy added 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's report Friday offered a mixed picture of 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 it initially estimated.
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.
The report "is something of a mixed bag but, on balance, it's a positive," said Paul Ashworth, an economist at Capital Economics.

http://finance.yahoo.com/news/us-econom ... 51784.html" onclick="window.open(this.href);return false;

- Labor force participation declined by >540k.
- The number of people dropping out of the labor force is 3.5x the number of jobs created.
- September and October job creation figures were revised downward by ~50k, combined.
- Manufacturing and construction jobs declined (the absolute number, not the rate of growth).
- The vast majority of jobs created were in the retail, leisure and restaurant industries (low paying jobs).
- Many of the created jobs were created for the holiday shopping season. They won't be around in January.

You might want to remember that the unemployment rate is a lagging indicator. Those downward revisions for Sept. and Oct. (and inevitably Nov.) tell me that we are heading into a recession.

If the size of the labor force today was the same size as in Jan. 2009, the U-3 unemployment rate would be 10.7%.

Oh, by the by, almost three-quarters of jobs created in the past five months have been government jobs.

Of course, none of that matters because --Barack Hussein Obama, mmmm mmmm mmmm.

Thank you, President Obama.

[Chizzang]

I would argue (with no way of proving it) but it wouldn't stop me from arguing it...
That unemployment is more like 15% Nationally / or certainly a hell of a lot closer to 15% than 8%

[AZGrizFan]

I would argue (with no way of proving it) but it wouldn't stop me from arguing it...
That unemployment is more like 15% Nationally / or certainly a hell of a lot closer to 15% than 8%

There's significant data to support that.

IOW, you COULD prove it, you're just too lazy.

[bluehenbillk]

Serious questions:

1: How long is someone generally unemployed before they have "dropped out of the labor force"?

2: How hard is someone really looking for a job if they've been unemployed 12 months or more?

3: If the answer to #2 is relatively high at what point in time do you revise your search in terms of the compensation or job level you're looking for? -or- When do you look at alternative jobs/industries from your initial search?

As a hiring manager in a major metropolitan area it mystifies me how few good candidates there seems to be out there with a "larger unemployment population".

[AZGrizFan]

Serious questions:

1: How long is someone generally unemployed before they have "dropped out of the labor force"?

2: How hard is someone really looking for a job if they've been unemployed 12 months or more?

3: If the answer to #2 is relatively high at what point in time do you revise your search in terms of the compensation or job level you're looking for? -or- When do you look at alternative jobs/industries from your initial search?

As a hiring manager in a major metropolitan area it mystifies me how few good candidates there seems to be out there with a "larger unemployment population".

Agreed. One would think with 23,000,000 unemployed, you could find ONE fucking decent sales manager out there willing to take a job in Arizona. We've been through two (one never even made it here, one lasted 3 weeks) and can't seem to get decent people to even APPLY.

[GannonFan]

Serious questions:

1: How long is someone generally unemployed before they have "dropped out of the labor force"?

2: How hard is someone really looking for a job if they've been unemployed 12 months or more?

3: If the answer to #2 is relatively high at what point in time do you revise your search in terms of the compensation or job level you're looking for? -or- When do you look at alternative jobs/industries from your initial search?

As a hiring manager in a major metropolitan area it mystifies me how few good candidates there seems to be out there with a "larger unemployment population".

Agreed. One would think with 23,000,000 unemployed, you could find ONE **** decent sales manager out there willing to take a job in Arizona. We've been through two (one never even made it here, one lasted 3 weeks) and can't seem to get decent people to even APPLY.

Well, don't underestimate the lack of intelligence in the American population. If we're trending in any direction, it's certainly towards being dumber as time goes on. Another reason why we should both reconfigure and expand immigration into this country - we could use a good influx of smart people.

[kalm]

I would argue (with no way of proving it) but it wouldn't stop me from arguing it...
That unemployment is more like 15% Nationally / or certainly a hell of a lot closer to 15% than 8%

I agree, which oddly enough, supports how shitty the real numbers were at the start of the recession. I'm not an Obama fan, but the higher number does not neccessarily make him look worse.

[CitadelGrad]

I would argue (with no way of proving it) but it wouldn't stop me from arguing it...
That unemployment is more like 15% Nationally / or certainly a hell of a lot closer to 15% than 8%

You are correct. All you need as proof is the BLS U-6 unemployment figure.

[death dealer]

I would argue (with no way of proving it) but it wouldn't stop me from arguing it...
That unemployment is more like 15% Nationally / or certainly a hell of a lot closer to 15% than 8%

I agree, which oddly enough, supports how shitty the real numbers were at the start of the recession. I'm not an Obama fan, but the higher number does not neccessarily make him look worse.

"Worse than what?" was the first thing that popped into my mind.

[Ivytalk]

Agreed. One would think with 23,000,000 unemployed, you could find ONE **** decent sales manager out there willing to take a job in Arizona. We've been through two (one never even made it here, one lasted 3 weeks) and can't seem to get decent people to even APPLY.

Well, don't underestimate the lack of intelligence in the American population. If we're trending in any direction, it's certainly towards being dumber as time goes on. Another reason why we should both reconfigure and expand immigration into this country - we could use a good influx of smart people.

Lack of education is more like it. And lack of a culture that prizes it. Don't go all ethno-genetic on me, Ganny.

[Chizzang]

Well, don't underestimate the lack of intelligence in the American population. If we're trending in any direction, it's certainly towards being dumber as time goes on. Another reason why we should both reconfigure and expand immigration into this country - we could use a good influx of smart people.

Lack of education is more like it. And lack of a culture that prizes it. Don't go all ethno-genetic on me, Ganny.

I'm inclined to agree with Gannon on this one...
Isn't college attendance at an all time high and don't more people than ever have masters degrees
Yet intelligence is declining fast
It's tricky problem

(This is usually where you ask about my suspicious lack of punctuation)

[houndawg]

Serious questions:

1: How long is someone generally unemployed before they have "dropped out of the labor force"?

2: How hard is someone really looking for a job if they've been unemployed 12 months or more?

3: If the answer to #2 is relatively high at what point in time do you revise your search in terms of the compensation or job level you're looking for? -or- When do you look at alternative jobs/industries from your initial search?

As a hiring manager in a major metropolitan area it mystifies me how few good candidates there seems to be out there with a "larger unemployment population".

I make about half what I could if I worked in my degree field but I wouldn't have any time to do anything else and I'd have all my eggs in one basket, not a desirable position vis a vis ones employer.

Best to have multiple smaller income streams in these times of no job security and untrustworthy employers.

[Bison Fan in NW MN]

Serious questions:

1: How long is someone generally unemployed before they have "dropped out of the labor force"?

2: How hard is someone really looking for a job if they've been unemployed 12 months or more?

3: If the answer to #2 is relatively high at what point in time do you revise your search in terms of the compensation or job level you're looking for? -or- When do you look at alternative jobs/industries from your initial search?

As a hiring manager in a major metropolitan area it mystifies me how few good candidates there seems to be out there with a "larger unemployment population".

I make about half what I could if I worked in my degree field but I wouldn't have any time to do anything else and I'd have all my eggs in one basket, not a desirable position vis a vis ones employer.

Best to have multiple smaller income streams in these times of no job security and untrustworthy employers.

Heck, I don't work in my degree field either.

6 yrs of college for what?...............

[Ivytalk]

Lack of education is more like it. And lack of a culture that prizes it. Don't go all ethno-genetic on me, Ganny.

I'm inclined to agree with Gannon on this one...
Isn't college attendance at an all time high and don't more people than ever have masters degrees
Yet intelligence is declining fast
It's tricky problem

(This is usually where you ask about my suspicious lack of punctuation)

no, you're the Harvard haiku master...

Seriously, do you remember the Harvard professor (Banfield?) who got in trouble for suggesting that whites were more intelligent than blacks? I don't think our problems will be solved by importing a bunch of engineers from Mumbai. Their kids would have to deal with the same crappy schools, drugs, and video game distractions that ours do.

[Chizzang]

I believe his point was that "the evidence suggests" white people might be smarter...
He had a whole thing on white trash poor too (very entertaining)
He and Milton Friedman were roommates in college - life long buddies I hear (I cannot confirm that)

I leave you with a closing white trash Haiku

Oh shotgun misfires
Loaded with soggy shot
Squirrel for lunch

or

Unemployment funds low
Hey disability paperwork man
Bus pass suspended

[GannonFan]

I'm inclined to agree with Gannon on this one...
Isn't college attendance at an all time high and don't more people than ever have masters degrees
Yet intelligence is declining fast
It's tricky problem

(This is usually where you ask about my suspicious lack of punctuation)

no, you're the Harvard haiku master...

Seriously, do you remember the Harvard professor (Banfield?) who got in trouble for suggesting that whites were more intelligent than blacks? I don't think our problems will be solved by importing a bunch of engineers from Mumbai. Their kids would have to deal with the same crappy schools, drugs, and video game distractions that ours do.

Schools, especially at the local level, are almost entirely the result of what the local populace wants and expects of the schools and, most importantly, what they are willing to spend the time and energy to make sure they get what they want. I do think the problem that we have today, and you touched on it, is the lack of education. But it's not because of not being able to get it, but more so from education not being a priority for far too many people, and of all races and creeds. Too many people don't want to work for things yet still expect to get whatever they want. We need more people in this country that strive for things and unfortunately we're not getting it. Maybe more engineers from Mumbai would at least start that process again of people coming here with ideas and know-how and, most importantly, the drive to use those tools to be successful.

[mrklean]

no, you're the Harvard haiku master...

Seriously, do you remember the Harvard professor (Banfield?) who got in trouble for suggesting that whites were more intelligent than blacks? I don't think our problems will be solved by importing a bunch of engineers from Mumbai. Their kids would have to deal with the same crappy schools, drugs, and video game distractions that ours do.

Schools, especially at the local level, are almost entirely the result of what the local populace wants and expects of the schools and, most importantly, what they are willing to spend the time and energy to make sure they get what they want. I do think the problem that we have today, and you touched on it, is the lack of education. But it's not because of not being able to get it, but more so from education not being a priority for far too many people, and of all races and creeds. Too many people don't want to work for things yet still expect to get whatever they want. We need more people in this country that strive for things and unfortunately we're not getting it. Maybe more engineers from Mumbai would at least start that process again of people coming here with ideas and know-how and, most importantly, the drive to use those tools to be successful.

Yeah, like Bank of America, Ford and GMC

[89Hen]

I leave you with a closing white trash Haiku

Oh shotgun misfires
Loaded with soggy shot
Squirrel for lunch

or

Unemployment funds low
Hey disability paperwork man
Bus pass suspended

Haiku fail.

[Wedgebuster]

http://www.gallup.com/poll/159104/unadj ... -back.aspx

U.S. unemployment, as measured by Gallup without seasonal adjustment, was 7.8% for the month of November, up significantly from 7.0% for October. Gallup's seasonally adjusted unemployment rate is 8.3%, nearly a one-point increase over October's rate.

Thank you, President Obama.

Yeah, Mitt Romney hit the unemployment line.

Thank you President Obama!

[Chizzang]

I leave you with a closing white trash Haiku

Oh shotgun misfires
Loaded with soggy shot
Squirrel for lunch

or

Unemployment funds low
Hey disability paperwork man
Bus pass suspended

Haiku fail.

pffft... those are brilliant (Thank you very much)
Plus the old ball and chain girl friend speaks in Haiku's (seriously, she does) so I have developed a natural Haiku language skill set translator

[death dealer]

Schools, especially at the local level, are almost entirely the result of what the local populace wants and expects of the schools and, most importantly, what they are willing to spend the time and energy to make sure they get what they want. I do think the problem that we have today, and you touched on it, is the lack of education. But it's not because of not being able to get it, but more so from education not being a priority for far too many people, and of all races and creeds. Too many people don't want to work for things yet still expect to get whatever they want. We need more people in this country that strive for things and unfortunately we're not getting it. Maybe more engineers from Mumbai would at least start that process again of people coming here with ideas and know-how and, most importantly, the drive to use those tools to be successful.

Yeah, like Bank of America, Ford and GMC

Another Kleenex Epic FAIL.

What a dumbass.