Thread: November Jobs Report Released

It is a pity that the numbers are so politically manipulated. JMO
BREAKING: November Jobs Report Released

BERT ATKINSON JR. DECEMBER 7, 2012 9:12 AM



The U.S. economy created 146,000 new jobs as the unemployment rate fell to 7.7 percent in November, according to the latest jobs report. The BLS also released the following note concerning Hurricane Sandy:

Hurricane Sandy made landfall on the Northeast coast on October 29th, causing severe damage in some states. Nevertheless, our survey response rates in the affected states were within normal ranges. Our analysis suggests that Hurricane Sandy did not substantively impact the national employment and unemployment estimates for November.

The number of unemployed persons stayed mostly unchanged at 12 million. Also, the number of long-term unemployed (27 weeks or more) was little changed at 4.8 million – this counts for 40.1 percent of the unemployed. The U-6 unemployment figure, which is far more realistic than the U-3 rate the media loves, dropped .2 to 14.4 percent – its lowest level all year.

While these numbers are optimistic, they begin to look far worse with the inclusion of this figure: the labor force participation rate dropped to 63.6 after more than 540,000 people dropped out of the workforce.

What can you take away from this? The economy is still sputtering along and jobs are being created, but people are very obviously dropping out of the work force. If you want to relate this to the ‘fiscal cliff’ news du jour, keep in mind that people not in the workforce cannot possibly pay taxes. If you really want to decrease the deficit and start chipping away at the debt, you need the workforce to grow instead of shrink.

BREAKING: November Jobs Report Released Independent Journal Review

http://www.alipac.us/f19/boeing-anno...34/index4.html