U.S. Employers Add Fewest Jobs in Four Months

[xchrom]

http://www.bloomberg.com/news/2011-11-05/u-s-employers-add-fewest-jobs-in-four-months-in-slow-recovery.html

The U.S. jobless rate unexpectedly fell in October while employers added the fewest workers in four months, reinforcing Federal Reserve Chairman Ben S. Bernanke’s prediction of a “frustratingly slow” recovery.

The unemployment rate dropped to a six-month low of 9 percent from 9.1 percent, even as more people entered the labor force. Payrolls rose by a less-than-forecast 80,000, following increases in the prior two months that were revised up by 102,000, Labor Department data showed yesterday in Washington.

The figures indicate the world’s largest economy will be able to weather risks such as the European debt crisis and political wrangling on cutting the U.S. budget deficit. Fed policy makers are forecasting “moderate” growth that won’t push unemployment below 8 percent until 2013, one reason why they are considering further stimulus to spur demand.

The employment gain is “enough for the economy to get along, and no more,” said Eric Green, chief market economist at TD Securities Inc. in New York, who correctly forecast the jobless rate. “Unemployment is going to remain well above what the Fed wants for the next two or three years. The high level of uncertainty has fostered caution. Companies are making do with very little labor.”





***'uncertainty' is the new 'surprise', or 'unexpected'.

[Fumesucker]

1. I'm reminded of Disraeli's apocryphal comment about the three ways of lying..

Lies, damn lies and statistics.

[xchrom]

2. or my mom: figures don't lie but liars figure. nt

[Owlet]

10. BLS figures seem designed to mislead

I get the RSS feed from Mish Shedlock who writes a blog on economic issues. I disagree with most of his social and political positions (he's very anti-union), but he has some good insights when he sticks to his field of expertise - the global economy. Here's one:

"In the last year, the civilian population rose by 1,739,000. Yet the labor force rose by a mere 238,000. Those not in the labor force rose by 1,501,000.

Were it not for people dropping out of the labor force, the unemployment rate would be well over 11%."

And that's just for starters.

The full post is here

This chart caught my eye. It appears in the October 2011 BLS Report, but the highlighting was supplied by Mish.

[FreakinDJ]

3. No Taxes = No Incentives to Create Markets/Jobs

So how is that Tax cut for corporations working out for you

[xchrom]

4. +1

[Donnachaidh]

5. then what was all this recent hoopla about the economy getting better?

This is the thing that pisses me off the MOST about the media and the information releases that get blurted out and whinged on about endlessly - until stories like this get leaked on weekends when no one is (thought to be) listening.

Things are NOT getting better - I suspect they are, in fact, getting worse. But the politicos are in their own little *gotta kiss the ass of corporations mode* in order to get campaign money. so they don't give a shit.

Media is short-stroking it over the latest sex charges against the dumbest individual in the campaign - so they don't give a shit.

And in real time, we're seeing MORE panhandlers, hearing of more EMPTY foodbanks, and families having to double-up because relatives have lost jobs and homes.

And pundits short stroke whatever is the meme of the week. I think the message this week is to ignore the bank transfers and badmouth the protesters.

Is it going to take violence to get this shit corrected? Because I see both sides mouthing platitudes but basically doing JACK SHIT for anyone but themselves.

:grr:

[Donnachaidh]

6. k and r -- but you're getting buried by those who want to hide this nugget.

Too bad the unreccers haven't the cherries to post WHY they are doing it.

[xchrom]

7. oh i knew this would be diffcult for some. nt

[KG]

8. must be more of them invisible green shoots...

[Hotler]

9. Let me help. k&r n/t

[xchrom]

11. thanky, right kind of you. nt