More economic good news, unemployment rate drops to 8.6%

[Mr.Nick]

Only BYPASS the Congress and beat thier chest about it..."we can't wait..." Barack Obama

They certainly can veto or pass executive orders but both theoretically can be vetoed by congress..

If its a spending it really doesn't matter because only the House can fund programs even if they're legislated into law..

True...but having a Senate that doesn't want to play ball...and lets legislation from the House back up like a clogged sewer drain...has but one purpose...Partisan politics over Country.

Someone has to pay the price. I prefer it be the whole LOT of them with a giant enema to be administered by the people next year.

I agree....

That's why Obama and the Senate are pissed - Obama wants his agenda passed and the House is telling him to **** off...

Of course the progressives then turn to the media and play the victim card..... Quite frankly the House is saving this nation from more progressive spending and damage....

If we had a democratic House this economy would have collapsed already IMO and of course the democrats would have blamed it all on republicans...

Then you have the progressive Senate that blocks everything the House passes out of spite.... Yeah, the progressive Senate wants to spend spend spend and thank God the House tells them to **** off every time...

 

[8537]

Wrong. It leaves 11 without a job.

How ******* stupid are you leftwing tards?

Speaking of stupid, read what I wrote and what I was responding to. You'll notice that, despite your inability to comprehend what I wrote, we agree

You just said it leaves 8 without a job. Now you're saying it leaves 11 without a job?

Apparently you are unable to post simple comprehensible English sentences.

again, read what I wrote. I said to someone who is a simpleton it leaves 8. To anyone with a brain it leaves 11.

 

[8537]

Unemployment rate falls to 8.6% in November


(AP) Washington (AP) —The 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 says the unemployment rate dropped sharply to 8.6% last month, from 9% in October. The rate hasn't been that low since March 2009, during the depths of the recession.
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.
Still, one reason the unemployment rate fell so much was because roughly 315,000 people gave up looking for work and were no longer counted as unemployed.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

You mean retailers hire people for the Christmas season???

Lets see where it's at February 1st...

There is a term called "seasonal jobs."

^yet another person who doesn't understand seasonal adjustments in data. If anyone bothered to actually read the data source, they'd see the data is titled "Household survey - seasonally adjusted" and "establishment survey - seasonally adjusted". It's right there for all to see.

 

[Mr.Nick]

Oh lookie.. more sourceless and unsubstantiated graphs by chrissypoo again

Some are not sourceless (had to zoom in order to see where they came from)
BUTTT (and y'all knew there would be one) the graphs are outdated.

GDP has been growing since 2009.

The stock market has doubled since 2009.

Americans net worth is up $9 trillion dollars since 2009.

Americans paid off $1 trillion dollars of personal debt in the last few years.

We are leaving Iraq, which will save us billions.

We are leaving Afghanistan in 2014, which will save us billions.

Auto sales are up 13.9%,

Pending home sales are up 10%,

Retail sales are up 16%

Unemployment is down to 8.6%

The deficit problem has been solved with the expiration of the Bush tax cuts and the automatic spending cuts in 2013.

Bin Laden and Gaddafi are dead.

And it's all Obama's fault!

And when doesn't the GDP grow??? that is another flawed formula...

If you keep dumping water into a full cup it will continue to spill water....

 

[The T]

Some are not sourceless (had to zoom in order to see where they came from)
BUTTT (and y'all knew there would be one) the graphs are outdated.

GDP has been growing since 2009.

The stock market has doubled since 2009.

Americans net worth is up $9 trillion dollars since 2009.

Americans paid off $1 trillion dollars of personal debt in the last few years.

We are leaving Iraq, which will save us billions.

We are leaving Afghanistan in 2014, which will save us billions.

Auto sales are up 13.9%,

Pending home sales are up 10%,

Retail sales are up 16%

Unemployment is down to 8.6%

The deficit problem has been solved with the expiration of the Bush tax cuts and the automatic spending cuts in 2013.

Bin Laden and Gaddafi are dead.

And it's all Obama's fault!

8.6%, if you had a brqain you'd be dangerous,. and cars sales? careful how you parse that...aside from the volts catching fire;

In the past two months, everyone has been scratching their heads just how it is possible that the US manufacturing base continues to chug along at pre-recession levels even as the world all around America burns? Today, GM may have given the answer, courtesy of its monthly disclosure of car sales which at the top line is completely irrelevant as the funding for these purchases comes almost entirely from subprime loans handed out by the government to NINJAs. What is interesting is the little blurb in every monthly report discussing the amount of dealer inventory, a topic well-known to frequent readers of Zero Hedge which has discussed GM's pervasive channel stuffing in the past, and which subsequently went quite mainstream. So how does November channel stuffing stack up? As the chart below shows, at 623,666 cars, it is an all time absolute record, and represents about 3.5 times the total GM vehicles sold in November! It is also a 31k increase in the past month, and 85k cars more in inventory than in July. Because when economic growth at all costs is needed to demonstrate just how viable America is, and a semi-nationalized car marker is one of the only conduits to "generate" economic growth, it does not matter if the end product is actually demanded or will simply corrode and rust in some dealer showroom in perpetuity. After all it is the act of building the car that matters for various monthly PMI, CMI, regional Fed and GDP purposes. Pretty much exactly like in China's goal seeked "economy." So the next time someone asks just how is it that the miraculous US decoupling continues, please point them to this chart.

GM Channel Stuffing Surges To All Time Record | ZeroHedge

GM offers to buy back Chevy Volts

Taxpayers on the hook...

 

[Mr.Nick]

Unemployment rate falls to 8.6% in November


(AP) Washington (AP) —The 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 says the unemployment rate dropped sharply to 8.6% last month, from 9% in October. The rate hasn't been that low since March 2009, during the depths of the recession.
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.
Still, one reason the unemployment rate fell so much was because roughly 315,000 people gave up looking for work and were no longer counted as unemployed.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

You mean retailers hire people for the Christmas season???

Lets see where it's at February 1st...

There is a term called "seasonal jobs."

^yet another person who doesn't understand seasonal adjustments in data. If anyone bothered to actually read the data source, they'd see the data is titled "Household survey - seasonally adjusted" and "establishment survey - seasonally adjusted". It's right there for all to see.

Well I suppose that's the point....

Season - seasonal workers - as in people who will not have a job come first quarter...

 

[Chris]

Some are not sourceless (had to zoom in order to see where they came from)
BUTTT (and y'all knew there would be one) the graphs are outdated.

GDP has been growing since 2009.

The stock market has doubled since 2009.

Americans net worth is up $9 trillion dollars since 2009.

Americans paid off $1 trillion dollars of personal debt in the last few years.

We are leaving Iraq, which will save us billions.

We are leaving Afghanistan in 2014, which will save us billions.

Auto sales are up 13.9%,

Pending home sales are up 10%,

Retail sales are up 16%

Unemployment is down to 8.6%

The deficit problem has been solved with the expiration of the Bush tax cuts and the automatic spending cuts in 2013.

Bin Laden and Gaddafi are dead.

And it's all Obama's fault!

And when doesn't the GDP grow??? that is another flawed formula...

If you keep dumping water into a full cup it will continue to spill water....

 

[8537]

Some are not sourceless (had to zoom in order to see where they came from)
BUTTT (and y'all knew there would be one) the graphs are outdated.

GDP has been growing since 2009.

The stock market has doubled since 2009.

Americans net worth is up $9 trillion dollars since 2009.

Americans paid off $1 trillion dollars of personal debt in the last few years.

We are leaving Iraq, which will save us billions.

We are leaving Afghanistan in 2014, which will save us billions.

Auto sales are up 13.9%,

Pending home sales are up 10%,

Retail sales are up 16%

Unemployment is down to 8.6%

The deficit problem has been solved with the expiration of the Bush tax cuts and the automatic spending cuts in 2013.

Bin Laden and Gaddafi are dead.

And it's all Obama's fault!

And when doesn't the GDP grow??? that is another flawed formula...

When we're in a recession. June 2008 all the way through June 2009, for instance. What's flawed about the formula?

 

[8537]

You mean retailers hire people for the Christmas season???

Lets see where it's at February 1st...

There is a term called "seasonal jobs."

^yet another person who doesn't understand seasonal adjustments in data. If anyone bothered to actually read the data source, they'd see the data is titled "Household survey - seasonally adjusted" and "establishment survey - seasonally adjusted". It's right there for all to see.

Well I suppose that's the point....

Season - seasonal workers - as in people who will not have a job come first quarter...

That;s why they remove the seasonal workers from the count. Which is how the raw numbers for last month were about 350,000 while the top line number was 120,000 - they adjusted for seasonal hiring.

Which is the point.

 

[Mr.Nick]

GDP has been growing since 2009.

The stock market has doubled since 2009.

Americans net worth is up $9 trillion dollars since 2009.

Americans paid off $1 trillion dollars of personal debt in the last few years.

We are leaving Iraq, which will save us billions.

We are leaving Afghanistan in 2014, which will save us billions.

Auto sales are up 13.9%,

Pending home sales are up 10%,

Retail sales are up 16%

Unemployment is down to 8.6%

The deficit problem has been solved with the expiration of the Bush tax cuts and the automatic spending cuts in 2013.

Bin Laden and Gaddafi are dead.

And it's all Obama's fault!

And when doesn't the GDP grow??? that is another flawed formula...

If you keep dumping water into a full cup it will continue to spill water....

Now you make me attempt to simplify accounting???

What do you know about appreciation and depreciation of assets???

The GDP always goes up.... If it didn't OWS would have nothing to ***** about with their "the rich get richer and the poor get poorer."

What I would like to explain to your ilk would take a 50 page thesis to write and I'm not going to do that..

Economics and this complicated domino effect economy can't be summed up into a paragraph or two... If you're interested I would certainly start with supply and demand and work your way up to appreciation and depreciation and how the GDP is falsely depicted.

 

[8537]

And when doesn't the GDP grow??? that is another flawed formula...

If you keep dumping water into a full cup it will continue to spill water....

Now you make me attempt to simplify accounting???

What do you know about appreciation and depreciation of assets???

The GDP always goes up.... If it didn't OWS would have nothing to ***** about with their "the rich get richer and the poor get poorer."

Except it doesn't always go up - in fact, it went down every quarter for a year between June 2008 and June 2009.

What I would like to explain to your ilk would take a 50 page thesis to write and I'm not going to do that..

Economics and this complicated domino effect economy can't be summed up into a paragraph or two... If you're interested I would certainly start with supply and demand and work your way up to appreciation and depreciation and how the GDP is falsely depicted.

Go ahead, tell us a little bit about that Nick. I think I'll be able to keep up. you can start by telling us about the flaw in the GDP formula. Hint: asset depreciation is taken into account.

 

[Mr.Nick]

^yet another person who doesn't understand seasonal adjustments in data. If anyone bothered to actually read the data source, they'd see the data is titled "Household survey - seasonally adjusted" and "establishment survey - seasonally adjusted". It's right there for all to see.

Well I suppose that's the point....

Season - seasonal workers - as in people who will not have a job come first quarter...

That;s why they remove the seasonal workers from the count. Which is how the raw numbers for last month were about 350,000 while the top line number was 120,000 - they adjusted for seasonal hiring.

Which is the point.

Yeah and thats why unemployment numbers will jump around March...

 

[pinqy]

Our government uses a flawed formula to calculate unemployment... They don't count those who have maxed out their unemployment benefits or those who have never worked a day in their lives...

Our government uses those who are actively on unemployment as their common denominator....

Where on earth did you get those ridiculous ideas from? Let's look at actual data rather than what you invent.
Current number of people receiving unemployment benefits (all programs): 7,005,495 (Dept of Labor
Current number of Unemployed as used in the UE rate: 13,303,000 (Bureau of Labor Statistics
So obviously they are NOT counting just those receiving benefits.

As for not counting those who never worked, welll, according to Table A-11 of the Employment Situation report there were 1,286,000 people whose reason for unemployment was that they were looking for their first job. 3,366,000 were reentering the labor force.

I really don't get why people think they can comment on things they've obviously never done even the most basic research on.

 

[Mr.Nick]

Now you make me attempt to simplify accounting???

What do you know about appreciation and depreciation of assets???

The GDP always goes up.... If it didn't OWS would have nothing to ***** about with their "the rich get richer and the poor get poorer."

Except it doesn't always go up - in fact, it went down every quarter for a year between June 2008 and June 2009.

What I would like to explain to your ilk would take a 50 page thesis to write and I'm not going to do that..

Economics and this complicated domino effect economy can't be summed up into a paragraph or two... If you're interested I would certainly start with supply and demand and work your way up to appreciation and depreciation and how the GDP is falsely depicted.

Go ahead, tell us a little bit about that Nick. I think I'll be able to keep up. you can start by telling us about the flaw in the GDP formula. Hint: asset depreciation is taken into account.

GDP always goes up.. It has to by economic law...

The GDP isn't quicksand....

 

[8537]

Well I suppose that's the point....

Season - seasonal workers - as in people who will not have a job come first quarter...

That;s why they remove the seasonal workers from the count. Which is how the raw numbers for last month were about 350,000 while the top line number was 120,000 - they adjusted for seasonal hiring.

Which is the point.

Yeah and thats why unemployment numbers will jump around March...

You're not really this stupid, are you? Are you?

The folks at the BLS ALSO understand that seasonal layoffs occur after the holidays and they adjust their models accordingly. Now give us a bit of the abstract of for this 50-page thesis of yours.

 

[8537]

Now you make me attempt to simplify accounting???

What do you know about appreciation and depreciation of assets???

The GDP always goes up.... If it didn't OWS would have nothing to ***** about with their "the rich get richer and the poor get poorer."

Except it doesn't always go up - in fact, it went down every quarter for a year between June 2008 and June 2009.

What I would like to explain to your ilk would take a 50 page thesis to write and I'm not going to do that..

Economics and this complicated domino effect economy can't be summed up into a paragraph or two... If you're interested I would certainly start with supply and demand and work your way up to appreciation and depreciation and how the GDP is falsely depicted.

Go ahead, tell us a little bit about that Nick. I think I'll be able to keep up. you can start by telling us about the flaw in the GDP formula. Hint: asset depreciation is taken into account.

GDP always goes up.. It has to by economic law...

The GDP isn't quicksand....

LOL! What is this economic law you speak of? And how do you explain the fact that GDP went DOWN for a full year in 2008-2009?

Please forgive my prior post asking whether you are really this stupid. Clearly, you ARE really this stupid.

 

[pinqy]

Now you make me attempt to simplify accounting???

What do you know about appreciation and depreciation of assets???

The GDP always goes up.... If it didn't OWS would have nothing to ***** about with their "the rich get richer and the poor get poorer."

Except it doesn't always go up - in fact, it went down every quarter for a year between June 2008 and June 2009.

What I would like to explain to your ilk would take a 50 page thesis to write and I'm not going to do that..

Economics and this complicated domino effect economy can't be summed up into a paragraph or two... If you're interested I would certainly start with supply and demand and work your way up to appreciation and depreciation and how the GDP is falsely depicted.

Go ahead, tell us a little bit about that Nick. I think I'll be able to keep up. you can start by telling us about the flaw in the GDP formula. Hint: asset depreciation is taken into account.

GDP always goes up.. It has to by economic law...

The GDP isn't quicksand....

This should be interesting....where can I find a cite for this law? Next time I visit BEA and talk to the folks who actually calculate GDP I'll let them know. They certainly don't know about it.