Unemployment Rate Drops To 8.6%

[klunderbunker]

http://bottomline.msnbc.msn.com/_ne...d-in-november-jobless-rate-fell-to-86-percent

From 9.0% last month. They're mainly seasonal jobs but working for two months is better than not working at all.

 

[Davi323]

Helps if you read the details...

Private employers added a net gain of 140,000 jobs in November, but governments shed 20,000 jobs, mostly at the local and state level.

140,000 - 20,000 = 120,000.

The fall in the jobless rate was aided by 315,000 people leaving the workforce. That pushed the participation rate, a ratio of the amount of the population in the labor force, down to 64.0 percent.

Unemployment numbers do not figure in people who give up looking for a job. So, that 120,000 jobs gained means actual growth is -195,000. There are 195,000 more people without work than there were. Nor does it account for the increase in eligible members of the workforce coming in. The amount of jobs created is lagging behind the number of people entering the workforce out of college, high school etc, so there are more people without a job now than before. You have more people joining the party than new jobs created, AND you stopped counting over 315,000 people because they gave up looking, or have been unemployed for so long they no longer qualify to collect unemployment checks. That artificially lowers the unemployment rate.

These unemployment numbers are not encouraging, they are discouraging. The overall size of the unemployed is growing, not shrinking. Those 315,000 people who aren't being counted as unemployed anymore are still unemployed, they just aren't being counted anymore.

 

[Slyfox696]

http://bottomline.msnbc.msn.com/_ne...d-in-november-jobless-rate-fell-to-86-percent

From 9.0% last month. They're mainly seasonal jobs but working for two months is better than not working at all.

Cue the Democrats taking credit.

Helps if you read the details...



140,000 - 20,000 = 120,000.



Unemployment numbers do not figure in people who give up looking for a job. So, that 120,000 jobs gained means actual growth is -195,000. There are 195,000 more people without work than there were. Nor does it account for the increase in eligible members of the workforce coming in. The amount of jobs created is lagging behind the number of people entering the workforce out of college, high school etc, so there are more people without a job now than before. You have more people joining the party than new jobs created, AND you stopped counting over 315,000 people because they gave up looking, or have been unemployed for so long they no longer qualify to collect unemployment checks. That artificially lowers the unemployment rate.

These unemployment numbers are not encouraging, they are discouraging. The overall size of the unemployed is growing, not shrinking. Those 315,000 people who aren't being counted as unemployed anymore are still unemployed, they just aren't being counted anymore.

Cue the Republicans demanding fewer regulations.

Rinse, repeat.

 

[Serious Mozzarella]

That's cool and all, but I still can't find a fucking job.

 

[Slyfox696]

That's cool and all, but I still can't find a fucking job.

Drug tests keep kicking your ass, huh?

 

[Hyorinmaru]

That's cool and all, but I still can't find a fucking job.

you're not alone

 

[Thriller Ant]

you're not alone

For some reason, this doesn't shock me in the slightest.

 

[Tiger Chaos Theory]

For some reason, this doesn't shock me in the slightest.

This made me chuckle.

 

[Hyorinmaru]

For some reason, this doesn't shock me in the slightest.

It's not for lack of trying.

I live in a town with 2 big universities and the college students grab up all the jobs

 

[Moon Knight]

That's cool and all, but I still can't find a fucking job.

Make your own. We need more people creating jobs.

 

[Pepe Silvia]

It's not for lack of trying.

I live in a town with 2 big universities and the college students grab up all the jobs

In the nicest way possible, you don't seem like the hardest worker