General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsUS employers added 200,000 jobs in December, jobless rate fell to 8.5 percent
Lowest unemployment rate in three years!
Economy adds 200,000 jobs in Dec.
WASHINGTON (AP) The U.S. job market strengthened in the second half of 2011, and added 200,000 jobs in December while the unemployment rate fell to 8.5% from a revised 8.7% a month earlier.
That's an even stronger finish than economists had forecast. They had expected employers added a net 150,000 jobs last month, according to a survey by Factset. They also predict that the unemployment rate ticked up to 8.7% from 8.6%, which was the lowest rate since March 2009.
The projected hiring gains would mark a six-month stretch in which the economy generated 100,000 jobs or more in each month. The last time that happened was in April 2006 more than a year and a half before the country plunged into the Great Recession.
President Barack Obama still could face voters in November with the highest unemployment rate of a sitting president seeking election since World War II. Unemployment was 7.8% when Obama took office in January 2009.
But Obama could benefit if the unemployment rate continues to dip. History suggests that presidents' re-election prospects depend less on the unemployment rate itself than on the rate's direction during the year or two before Election Day.
<SNIP>
http://www.usatoday.com/money/economy/story/2012-01-06/december-unemployment-report/52410436/1
Stuart G
(38,422 posts)malaise
(268,993 posts)GObama!
Inuca
(8,945 posts)Industry breakdown: Retail: +28k; manufacturing: +23k; "couriers and messenging": +42k; health care: +23k; food services: +24k; mining: +7k
jefferson_dem
(32,683 posts)Earth_First
(14,910 posts)2012 is an election year!
I'm all about the economic recovery efforts, but the cyclical nature of positive UI numbers around election years is wearing thin...
jefferson_dem
(32,683 posts)ProSense
(116,464 posts)MahayanaLotus
(34 posts)"If they told you that wolverines made good house pets, would you have one?"
TheWraith
(24,331 posts)...it's got bells on it.
SidDithers
(44,228 posts)you're going to fit right in.
Sid
MjolnirTime
(1,800 posts)DCBob
(24,689 posts)great white snark
(2,646 posts)Our nation will overcome Republican stonewalling.
RC
(25,592 posts)Full time, Living-Wage-Jobs with benefits?
We don't know, because they never say. It is always just "jobs".
How many are seasonal? How many are and always will be part time? How many are minimum wage?
How many are temporary because of something unexpected? You know, like sorting out pallets of 'leakers' at a Coke or Pepsi canning plant? I had one of those one time.
Just jobs is not good enough. What we need are full time, Living-Wage-Jobs with benefits. Then we can celebrate. But don't get excited about just jobs that puts a temporary dip in the cooked numbers they call the unemployment rate.
dmallind
(10,437 posts)http://www.chicagotribune.com/business/sns-rt-us-usa-economy-jobstre8050wz-20120106,0,5606232.story
"Factories added 23,000 workers to payrolls, which was much more than expected and shows U.S. manufacturers continue to buck a global economic slowdown. Also, retailers added 27,900 workers, transportation and warehousing firms added 50,200 and construction employment gained by 17,000."
Since U6 declined even mlre than U3, clearly this isn't people being forced to work PT when they want FT (one of the categories included in U6).
brentspeak
(18,290 posts)U6 figures also include those considered "marginally attached to the labor force", not only those who work part-time. So it's entirely possible that the "marginally attached" figure declined in the past month while the "part-time" figure remained constant or even rose. And attempting to connect U3 and U6 rise/fall percentage point patterns is bogus statistical shell-gaming: when the U6 rate rose .2 percentage points between Aug and Sept. 2011, did full-time employment increase when the U3 rate declined by .1 percentage point?
dmallind
(10,437 posts)The two don't need to move together to be related. If U6 goes up and U3 goes down all that means is we have more people meeting the U6 criteria (looked once in the last year, working part time, marginally attached) but fewer meeting the U3 criteria (looked in the last 4 weeks) If however as happened this time, U6 goes down more than U3, that means the number of people meeting those criteria has declined more than the number meeting U3 criteria. Since we know only 50k left the workforce, there's no way the 200k could be addded to the U6 criteria (the usual doomer response that created jobs were all PT) and have the number drop more than U3.
brentspeak
(18,290 posts)MjolnirTime
(1,800 posts)RC
(25,592 posts)MjolnirTime
(1,800 posts)RC
(25,592 posts)Not only that, the numbers for the Christmas spending binge are coming in. Of course things look better.
I can see right through you, now go lay down
RC
(25,592 posts)Those are some questions to ask. Another is What is our government really doing to help kick start a recovery? You, me and Main Street seems to be far down the list.
Anything that would actually help with a recovery gets cut back or derailed. Or haven't you noticed? You can't blame it all in the Republicans.
they do tell where the jobs were created
your claim is a out right lie
surfdog
(624 posts)Time for you to get a clue
raccoon
(31,110 posts)I guess I don't need to tell you that the vast majority of these won't be "good" jobs.
MjolnirTime
(1,800 posts)raccoon
(31,110 posts)girl gone mad
(20,634 posts)I've been an advocate for the payroll tax holiday and it seems to have had a positive effect. But I see this as the peak for our economy, barring a substantial policy shift. There's a limit to how far world leaders can kick the debt can. There's also a limit to how much of a recovery the average American will see, until we impose serious reforms to rein in the financial sector and the rest of the predator/parasite class.
Cognitive_Resonance
(1,546 posts)Scurrilous
(38,687 posts)firehorse
(755 posts)If so, then its a bubble that will pop.
DCBob
(24,689 posts)Thank goodness.
(giggle)
Hosnon
(7,800 posts)malaise
(268,993 posts)ReTHUG candidates.
They don't want any stinking jobs.