The December 2010 Jobs Numbers Just Plain Suck

Discussion in 'Economy' started by KissMy, Dec 3, 2010.

  1. KissMy
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    KissMy Free Breast Exam

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    Oops I mean the November 2010 Jobs Numbers Just Plain Suck. (could not go back & change the thread title)

    They came in way below those +160 estimates. Actually came in at +39K

    Unemployment is at 9.8%
     
    Last edited: Dec 3, 2010
  2. editec
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    editec Mr. Forgot-it-All

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    You must mean November, right?

    I'm informed that we need something like 160,000 new jobs every month just to absorb the new workers coming into the job market.

    If that is the legit number than we need some number of new hires greater than 160K every month to beat down the unemployment numbers.

    I can assure you that giving tax breaks to billionaires won't do that.

    I'm not entirely sure what anybody can do to change this dynamic, either.

    Not without radically changing the way we do business, at least, which, as we all know, isn't remotely on the table.
     
  3. KissMy
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    KissMy Free Breast Exam

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    We need to cut bloated government salaries & benefits that are double the private sector so more teachers can be hired. Screw the public sector unions those salaries & benefits must be cut in half A.S.A.P. We need a large training effort to get job skills to match those needed by employers. We must tie unemployment benefits to job training, tech school, college etc.
     
    Last edited: Dec 3, 2010
  4. editec
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    editec Mr. Forgot-it-All

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    All pretty good ideas.

    Now try to convince our government to do that.

    Just try, I dares ya'.
     
  5. NYcarbineer
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    NYcarbineer Diamond Member

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    The Republican Congress owns the economy now. :lol:

    (hey! wingnut logic is easy!)
     
  6. Capitalist
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    Capitalist Jeffersonian Liberal

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    The New York Times could not even spin this disastrous news:
    In a significant setback to the recovery and market expectations, the United States economy added just 39,000 jobs in November, and the unemployment rate rose to 9.8 percent, according to the Department of Labor.
    November’s numbers were far below the consensus forecast of close to 150,000 jobs. The unemploment rate had been expected to remain at 9.6 percent.
    More than 15 million people remained out of work last month, and 6.3 million of them have been unemployed for six months or longer.
    Private companies, which have been hiring since the beginning of the year, added 50,000 jobs in November. Most of those increases came from the temporary help, where 40,000 jobs were added, and health care sectors, with an additional 19,000 jobs.
    Manufacturing companies, which showed some strength earlier in the year, lost 13,000 jobs.
    Included in the latest report were revisions from previous months. The agency now says that the economy added 172,000 jobs in October, instead of the 151,000 jobs previously reported. September was revised to a loss of 24,000 from a loss of 41,000.
    The anemic net gain in jobs came as economists had been gradually showing more optimism.
     
  7. william the wie
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    william the wie Gold Member

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    I don't think this can be blamed on domestic politics. The tensions in the Korean peninsula that China needs to divert attention away the bust of its own asset bubble and the increasing likelihood of an EU based meltdown strike me as sufficient reason for a recession to start. I have my problems with both Obama and the GOP house but neither of them caused a real estate bubble in the Far East or the EMU.
     
  8. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Here's more info from the BLS report:

    The total labor force population grew by 185K

    The employed population shrank by 173K

    The unemployed population increased by 276K

    82K are no longer counted in the labor force.

    Net Net - the economy is not growing at a rate to keep up with population growth, let alone make a dent in unemployment.

    Obamanomics = Epic Fail.

    Employment Situation Summary Table A. Household data, seasonally adjusted


    U6 unemployment remains at 17%, which can only be done by excluding more long term unemployed from the stats.

    http://www.bls.gov/news.release/empsit.t15.htm
     
    Last edited: Dec 3, 2010
  9. uscitizen
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    uscitizen Senior Member

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    What about those who are unemployed cannot find a job but already have good viable job training/education? Should they not get unemployment?

    It is not just the untrianed who cannot find jobs? Actually they can find jobs to fit their lack of skills easier than the more esperienced and trained ones.
     
  10. Capitalist
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    Capitalist Jeffersonian Liberal

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    [​IMG]
    Keynesian FAIL…
    Communists don’t create wealth, they steal it.
    Didn't BHO say that the stimulus would keep us from going over 8 percent unemployment! Idiot......
     
    Last edited: Dec 3, 2010

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