Non-Farm Payrolls Rise Much Less than Expected, Up 39,000 Pushing Unemployment Rate Higher to 9.8%

[jefferson_dem]

http://www.cnbc.com/

Not good. Let the posturing begin.

[dennis4868]

1. Bad news...

Economist were expecting about 150,000 jobs added. If it was not for the blue dogs and repubs in the senate we would have had a bigger stimulus bill (without the tax cuts) and the unemployment rate would be in better shape now. Of course the very people (repubs) who would not allow a bigger stimulus will be out there today bashing Obama about today's job report.

[earthside]

2. But ... but ... but ...

... I wanted to be able to say, "But things are moving in the right direction."

Well, the pollyanna's here are wrong, things are not moving in the right direction -- and chalking the bad news up to just not enough stimulus spending is avoiding the real economic issues.

The reason the economy is still bad is because we are not dealing forthrightly with the off-shoring of jobs overseas -- all the so-called free trade treaties are still in place just as they were when candidate Obama promised to reexamine them; the super rich elite and the mega-transnational corporations are still calling all the shots at the U.S. Treasury; the banks/casinos have not been broken-up; the concentration of wealth into the top one percent goes on unabated, leaving less money for regular folks to spend ... so on and so forth.

Until President Obama gets off the dime and starts fighting for working and middle class Americans, then this economy is still going to stagnate of get worse.

[xchrom]

3. hmmm - interesting. nt

[ProSense]

4. Ugly

PRIVATE-SECTOR JOB GROWTH....

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For much of 2010, this was important because of the sharp differences we've seen between the private and public sectors. Most notably, the rise and fall of Census Bureau jobs can offer a skewed picture -- some months, such as May 2010, look better than they should, because the monthly total is exaggerated by hundreds of thousands of Census jobs. Other months, such as June 2010, are distorted in the other direction, looking worse than they should.

But that period is largely over, and last month, both sectors were awful -- the economy added 50,000 private-sector jobs in November, far below expectations. It was the 11th consecutive month of private-sector growth, but that really shouldn't make anyone feel better -- November's figure was the worst monthly total since January.

All told, the economy has added 1.17 million private-sector jobs in 2010. For comparison purposes, note that the economy lost nearly 4.7 million private-sector jobs in 2009, and lost 3.8 million in 2008.

With that in mind, here is a differe homemade chart, showing monthly job losses/gains in the private sector since the start of the Great Recession. The image makes a distinction -- red columns point to monthly job totals under the Bush administration, while blue columns point to job totals under the Obama administration. (Note: the chart reflects



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[Clio the Leo]

5. That retail number is odd.

... it FELL? During the month of November? Strange.

[Pale Blue Dot]

7. Strange as in really ominous, you mean?

If so, I agree.

[Clio the Leo]

9. Strange as in "doesn't jive with logic" nt

[jefferson_dem]

11. The unemployment numbers are weird...

After ADP suggesting a much rosier picture.

[AngryAmish]

6. Unexpect

When will the fact the economy is in the shithole prove unexpected? They must really think we are stupid.

[Clio the Leo]

8. Ha! The report has a margin of error of 100,000 jobs...

... that's a riot! (According to Steve Liesman of CNBC)

[jeanpalmer]

10. Maybe this will bring pressure

to extend unemployment benefits. Let's hope.

[GSLevel9]

12. might sound something like this:

39,000 hard working Americans are back to work thanks to the administration's bold plan. However, as proud as we are of our accomplishments we recognize that all Americans want jobs and we won't rest until every American has a job.

how was that? Can I get a job filling the teleprompter?