US jobless rate falls to five-year low in November

[Sunlei]

The US unemployment rate fell to a five-year low of 7% in November, according to the US Labor Department.

Payroll figures also showed that 203,000 jobs were created last month, more than predicted, as the US economy displayed encouraging signs of strength. US markets cheered the news, with the Dow Jones Industrial Average spiking nearly 200 points.

Chris Williamson, chief economist at research firm Markit, said the data indicated the US labor market was "buoyant".

"The decline pushes the jobless rate down to its lowest since November 2008 and closer towards the Fed's threshold of 6.5%, which it wants to see breached before it considers tightening policy via higher interest rates," he said. But he added that a decision on when the Fed might start to taper its stimulus program was still not clear cut.

http://www.bbc.co.uk/news/business-25264866

[JGibson]

1. Living standards for those employed?

Unemployment is one thing, living standards are another. There are an obscene amount of people working in part-time, insecure agency type jobs that involve working long hours for little pay. People are being pushed to work harder and harder and the US government can't seem to tackle to the crisis that is seeing millions suffer. Bringing up employment is great - but what about the people already in work?

Stimulus isn't the answer. The government needs to have a hard-line policy on companies which underpay employees.

[davidpdx]

2. I agree with you about people making too little

but disagree with you on the way to resolve it. The minimum wage needs to be raised. Workers need to continue to put pressure on companies like they are doing so well right now to continue to make the issue heard.

Stimulus is needed. We badly need more roads, bridges, and schools as many are substandard or falling apart. The only one that can pay for those is the government. Ask yourself the next time you or a loved one crosses a bridge how safe it really is, why our roads aren't getting fixed, and why schools are so old they can't upgrade to the technology they need to teach children like they should in the 21st century.

Now whether stimulus will happen is another story. As long as we have the loons running the House it won't.

Welcome to DU!

[gopiscrap]

5. Welcome to DU

[davidpdx]

3. That is good news

But there is so much more that needs to be done. The creation of good paying jobs is important for our economy. As long as the Republicans and corporations act like they are running the country we won't get them.

[SmittynMo]

4. Can I ask a stupid question.

If you notice, this is coming from a UK source. Does the UK come over here are run stats for us? How can we believe these numbers? And why isn't this information coming form a source in the US?

Interesting information I obtained from a local UE representative as I was looking for a job.

Where I live, there were 10 UE offices in the area. Over the past 2 years it has been reduced to 4, eliminating all those jobs. Since I was in one of the remaining 4 offices, they have seen claims quadruple, and have also laid off 1/4 of their staff. The office is consistently full of people, no matter what time of day it is. And I'm sure these workers are overworked, stressed out, and underpaid.

So the UK is now indicating that the US is now at 7%? Not from my viewpoint. And what about people who have rolled off the UE paychecks? And here I sit, in my 50's, unemployed for the past 8 months, with not one interview.

Yeah, it's getting better alright!!! NOT!!!!!!