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jefferson_dem

(32,683 posts)
Fri Jan 6, 2012, 09:33 AM Jan 2012

US 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

37 replies = new reply since forum marked as read
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US employers added 200,000 jobs in December, jobless rate fell to 8.5 percent (Original Post) jefferson_dem Jan 2012 OP
k & r nt Stuart G Jan 2012 #1
K & EffingR malaise Jan 2012 #2
Per Ezra Klein Inuca Jan 2012 #3
15.2% is the lowest U-6 number since February 2009. jefferson_dem Jan 2012 #4
Well sure... Earth_First Jan 2012 #5
For those keeping score, the US added 1.64 million jobs in 2011, most in 5 years. jefferson_dem Jan 2012 #6
Good news. n/t ProSense Jan 2012 #7
In the words of John Candy MahayanaLotus Jan 2012 #8
Yes, yes, it's all fake. Pull the other one... TheWraith Jan 2012 #9
Welcome to DU... SidDithers Jan 2012 #12
Obama's really getting to you, isn't he? MjolnirTime Jan 2012 #15
That quote would be more appropriate if aimed at Faux Newz. DCBob Jan 2012 #36
Great news all around. great white snark Jan 2012 #10
What kind of jobs are we talking about? RC Jan 2012 #11
They ALWAYS "say" dmallind Jan 2012 #13
Statistical bull$hit on your part brentspeak Jan 2012 #25
You misunderstand the relationship dmallind Jan 2012 #29
More like you're making up a relationship between the two brentspeak Jan 2012 #30
You can't handle the truth? MjolnirTime Jan 2012 #14
And what truth is that? RC Jan 2012 #18
That the Economy is improving. MjolnirTime Jan 2012 #19
Of course, a national election is coming in 10 months. RC Jan 2012 #24
"they never say" surfdog Jan 2012 #16
Why? Do I upset you with some reality? RC Jan 2012 #20
Sheesh surfdog Jan 2012 #26
I am the second person to correct you on this surfdog Jan 2012 #27
Good point. Last night on news they were talking about Dollar General hiring lots of people. raccoon Jan 2012 #17
Will you say the same thing when the numbers continue to improve? MjolnirTime Jan 2012 #21
If they're McJobs, yes. nt raccoon Jan 2012 #22
What's the impetus for improvement going forward? girl gone mad Jan 2012 #32
Fantastic news. Great start for 2012. nt Cognitive_Resonance Jan 2012 #23
K & R Scurrilous Jan 2012 #28
Does the number include all the temp holiday workers for December? firehorse Jan 2012 #31
So I guess the dire warnings of economic catastrophy will stop now. DCBob Jan 2012 #33
Heh. Hosnon Jan 2012 #35
Yes, but... WHERE ARE THE JOBS??? Hosnon Jan 2012 #34
Now he's really pissed off those malaise Jan 2012 #37

Inuca

(8,945 posts)
3. Per Ezra Klein
Fri Jan 6, 2012, 09:37 AM
Jan 2012

Industry breakdown: Retail: +28k; manufacturing: +23k; "couriers and messenging": +42k; health care: +23k; food services: +24k; mining: +7k

Earth_First

(14,910 posts)
5. Well sure...
Fri Jan 6, 2012, 09:41 AM
Jan 2012

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...

 

RC

(25,592 posts)
11. What kind of jobs are we talking about?
Fri Jan 6, 2012, 10:45 AM
Jan 2012

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)
13. They ALWAYS "say"
Fri Jan 6, 2012, 10:57 AM
Jan 2012

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)
25. Statistical bull$hit on your part
Fri Jan 6, 2012, 12:18 PM
Jan 2012
"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)."

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)
29. You misunderstand the relationship
Fri Jan 6, 2012, 12:46 PM
Jan 2012

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.

 

RC

(25,592 posts)
24. Of course, a national election is coming in 10 months.
Fri Jan 6, 2012, 12:14 PM
Jan 2012

Not only that, the numbers for the Christmas spending binge are coming in. Of course things look better.

 

RC

(25,592 posts)
20. Why? Do I upset you with some reality?
Fri Jan 6, 2012, 11:55 AM
Jan 2012

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.

raccoon

(31,110 posts)
17. Good point. Last night on news they were talking about Dollar General hiring lots of people.
Fri Jan 6, 2012, 11:49 AM
Jan 2012

I guess I don't need to tell you that the vast majority of these won't be "good" jobs.



girl gone mad

(20,634 posts)
32. What's the impetus for improvement going forward?
Fri Jan 6, 2012, 06:44 PM
Jan 2012

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.

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