IM2
Diamond Member
- Mar 11, 2015
- 113,093
- 141,791
- 3,645
And don't try blaming this on Biden. This is all on Trump. Unemployment rising. Prices rising. Inflation rising.
This is what you voted for. You were told this would happen, and still you chose Trump.
The national unemployment rate rose to a four-year high of 4.6% in November, in a further sign of weakness for the U.S. labor market.
The November jobs report released Tuesday by the Labor Department also showed that the economy added 64,000 jobs last month after shedding more than 100,000 jobs in October, leaving net employment growth roughly flat since April.
The report was issued on a delayed basis following disruption from the federal government shutdown, and revises job numbers for both August and September downward.
The November data shows that the number of unemployed people (7.8 million) remains slightly higher than the 7.7 million total job openings reported in October. The sharp contraction in employment in October was driven by federal government layoffs, which took effect at the end of the fiscal year.
And there are reasons to believe that job growth may be even weaker than the Labor Department reports indicate.
Last week, Federal Reserve Chair Jerome Powell said Fed staffers believe that federal data could be overestimating job creation by up to 60,000 jobs a month, which if true would nearly wipe out November's gains in future revisions.
“We think there’s an overstatement in these numbers,” Powell said in a press conference after policymakers voted to cut the Fed's benchmark interest rate by a quarter percentage point.
This is what you voted for. You were told this would happen, and still you chose Trump.
Unemployment Rate Hits 4-Year High of 4.6% in Further Sign of Labor Market Weakness
The national unemployment rate rose to a four-year high of 4.6% in November, in a further sign of weakness for the U.S. labor market.
The November jobs report released Tuesday by the Labor Department also showed that the economy added 64,000 jobs last month after shedding more than 100,000 jobs in October, leaving net employment growth roughly flat since April.
The report was issued on a delayed basis following disruption from the federal government shutdown, and revises job numbers for both August and September downward.
The November data shows that the number of unemployed people (7.8 million) remains slightly higher than the 7.7 million total job openings reported in October. The sharp contraction in employment in October was driven by federal government layoffs, which took effect at the end of the fiscal year.
And there are reasons to believe that job growth may be even weaker than the Labor Department reports indicate.
Last week, Federal Reserve Chair Jerome Powell said Fed staffers believe that federal data could be overestimating job creation by up to 60,000 jobs a month, which if true would nearly wipe out November's gains in future revisions.
“We think there’s an overstatement in these numbers,” Powell said in a press conference after policymakers voted to cut the Fed's benchmark interest rate by a quarter percentage point.
Loading…
finance.yahoo.com
