Thank you, President Obama!

[Ravi]

Unemployment drops to 8.6%

 

[Valerie]

The unemployment rate had been expected to hold at 9 percent. It last dropped by 0.4 percentage point in January.

"The really good news is that employment has grown for four months running -- in large steps. There was a solid increase in private employment. Everything there looks steady, but clearly healthy and positive," said Pierre Ellis, a senior economist at Decision Economics in New York.

However, retail accounted for more than a third all new private sector jobs in November.

U.S. stock index futures added gains after the report, while Treasury debt prices briefly extended losses and interest rate futures held steady. The dollar extended gains versus the yen.

The report is unlikely to take much pressure off President Barack Obama, whose economic stewardship will face the judgment of voters next November. The outlook for the U.S. economy is also being threatened by Europe's deepening financial crisis.

The report could temper the appetite among some Federal Reserve officials to ease monetary policy further.

In forecasts released earlier this month, the Fed said the jobless rate would likely average 9 percent to 9.1 percent in the fourth quarter. It did not expect it to drop to an 8.5 percent to 8.7 percent range until late next year.

Data ranging from manufacturing to retail sales suggest the growth pace could top 3 percent in the fourth quarter, in contrast to China, where growth is cooling and the euro zone, which many economists believe is already in recession.

While the economy's growth pace appears to have accelerated from the third quarter's 2 percent annual rate, unemployment remains too high.

At the same time, U.S. fiscal policy is set to tighten in the new year, even if lawmakers extend a payroll tax cut.

Taken together, some analysts believe the headwinds facing the U.S. economy will lead the Fed to ease monetary policy further by buying more bonds.

"We still have a very long way to go. I would favor the Fed going for a third round of quantitative easing," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania. "It's the only powerful tool left, even though it's losing some of its bang."

Analysts say the economy needs to create at least 125,000 jobs every month just to keep the unemployment rate steady.

But there are reasons to be cautiously optimistic.

Jobless rate drops to 8.6 percent, hiring picks up - Yahoo! Finance

 

[Synthaholic]

Thank you, Mr. President!

 

[Mad Scientist]

NFP Prints At 120K, Below Expectations Of 125K, Unemployment Rate Drops To 8.6% | ZeroHedge

NFP Prints At 120K, Below Expectations Of 125K, Unemployment Rate Drops To 8.6% on Expectations of 9.0%. And for those wondering how it is possible to have such a major drop in the unemployment rate, here it is: Labor Force Participation down from 64.2% to 64.0% as ever more people leave the work force once again.

 

[iamwhatiseem]

Trolls...
really?
An estimated 315,000 are no longer looking for work and therefore show up as "employed" in this report.
If anything the unemployement number is higher now.

Do you guys prefer cherry or grape?

 

[KissMy]

Civilian Employment-Population Ratio at the worst levels since 1981. The only reason the unemployment rate fell is because their benefits have run out & the unemployed have given up on looking for work. This is a very bad sign for the economy & employment.

 

[Ravi]

Small businesses and startups that were skittish about the economy this summer started hiring in bigger numbers this fall, helping drive the unemployment rate down to 8.6 percent in November, the lowest in two and a half years.

The country added 120,000 jobs last month, the Labor Department said Friday. The economy has generated 100,000 or more jobs five months in a row — the first time that has happened since April 2006, long before the Great Recession set in.

“Something good is stirring in the U.S. economy,” Ian Shepherdson, an economist at High Frequency Economics, said in a note to clients.

The unemployment report, one of the most closely watched economic indicators, showed that September and October were stronger months than first estimated. For four months in a row, the government has revised job growth figures higher.

Unemployment rate falls to 8.6 percent, lowest in 2½ years, as hiring improves - The Washington Post

 

[WillowTree]

NFP Prints At 120K, Below Expectations Of 125K, Unemployment Rate Drops To 8.6% | ZeroHedge

NFP Prints At 120K, Below Expectations Of 125K, Unemployment Rate Drops To 8.6% on Expectations of 9.0%. And for those wondering how it is possible to have such a major drop in the unemployment rate, here it is: Labor Force Participation down from 64.2% to 64.0% as ever more people leave the work force once again.

they grasp.. at straws.. Most media outlets are saying these numbers reflect that many Americans have given up even looking for work. That's the saddest part. and the asswipes on the left are cheering obama? how fucking predictable.

 

[CrusaderFrank]

Three threads on this already and the number dropped only because for every new hire, 3 people gave up looking for work.

You call that Progress?

 

[WillowTree]

Three threads on this already and the number dropped only because for every new hire, 3 people gave up looking for work.

You call that Progress?

they're cheering.

 

[Jackson]

Unemployment drops to 8.6%

And thank you for the quote that you will be a one term president if the economy doesn't rebound in a year. If he would have stopped working against Americans and for his re-election, he may have gotten something done.

Let's see how this plays out.

 

[Lovebears65]

And over 402K filed for unemployment last week alone for the first time ever

The number of Americans filing for first-time unemployment benefits rose again last week to their highest level in a month.
There were 402,000 initial jobless claims filed in the week ended Nov. 26, the Labor Department said Thursday. That was up 6,000 from the week before and marked the highest level since the week of Oct. 22.

.. Plus a lot of people got jobs for the Christmas season.. So I would not be so happy about those numbers until Christmas is over..http://money.cnn.com/2011/12/01/news/economy/unemployment_benefits/index.htm?iid=SF_E_River



SO again the Main stream media spins things to look good for Obama

 

[007]

I guess all the temporary workers hired for the holidays and misrepresentation of statistics is what the odumbo worshipers call... EVERYTHING IS COMING UP ROSES AND CHERRIES, EVERYTHING IS OK NOW, YOU SAVED THE WORLD, MY HERO, OH KING OBAMA, THANK YOU, THANK YOU, THANK YOU....


.................

 

[Mr. Shaman]

Unemployment drops to 8.6%

Gettin' GREEN, with.....

....BILL & BARACK!!!!!

 

[Jackson]

Unemployment drops to 8.6%

Gettin' GREEN, with.....

....BILL & BARACK!!!!!

Another "shovel ready job" in the neighbor's yard?

 

[kwc57]

Unemployment drops to 8.6%

Temporary retail help for Christmas. Wait until January rolls around and recheck the numbers.

 

[Cammmpbell]

Unemployment drops to 8.6%

Timing is perfect. If this continues for a few months the "Do Nothing" Republican congress had better "Pucker Up"

 

[Luddly Neddite]

Yes, thanks to President Obama's fight for the working class, there are jobs added every month. Steps in the right direction but not enough. And, xmas hiring will start this week so the numbers will be artificially inflated.

Send the useless pubs/bags home so the real Americans can get some work done FOR the people instead of the 1%.

 

[Luddly Neddite]

Here's a ore accurate picture -

Breaking News and Opinion on The Huffington Post

Keep at it Mr. President.

 

[KissMy]

Midnight Shopping is just one Sign of Poverty in Third World America

I have seen this point stressed by Wal-Mart CEO Bill Simon & SuperValue Food Markets CEO Craig Herkert.

First morning of the month ushers in midnight lines at cash registers around the country. All of these shoppers are stressed & hungry. They are waiting for their EBT, unemployment or SSI credits to transfer into their accounts at 12:01AM so they & their kids can eat. Some had to go away hungry as stores ran out of their necessities the first day of the month due to the big rush.

This phenomena has been prevalent over the last 2 years & has been guiding stores to inventory heavy for the first of the month morning rush because store shelves have been running out of diapers, baby food & cheap foods on the first day of the month.

What will happen now that all of these people are falling off of the unemployment dole & have no jobs? Get ready for a spike in the crime rate!