'Bullish' November Data Mask An Ugly Truth About Jobs

[Draggingtree]

Investors Business Daily :

'Bullish' November Data Mask An Ugly Truth About Jobs

 

Mon, Dec 10 2012 00:00:00 EA18_ISSUESPosted 12/07/2012 06:54 PM ET

 

Economy: A rip-roarer for job creation and a major drop in the unemployment rate. At least, that's how the mainstream media sum up November's job numbers. But scratch the data and a different story surfaces.

A lot of pundits thought the November jobs data were pretty good, with 146,000 new jobs and a drop in unemployment to 7.7%. But look closer, and you see recession mode

With nonfarm payrolls swelling by 146,000 and the jobless rate easing from 7.9% to 7.7%, November looked pretty good to many pundits. But the underlying trends aren't so favorable, and the future, with a slowing economy about to drive off a fiscal cliff, isn't bright at all.

Start with payroll jobs. The 146,000 wasn't awful, but to make a serious dent in joblessness, we need to add at least 200,000 a month for a

[Argyle58]

Not once did the article mention that MOST of the 146K jobs added in November were seasonal positions that will end no later than January 2nd.

[pollyannaish]

My husband works for the Washington State unemployment agency and he says that you look under these "good" numbers and its scary. 30% of able bodied men of working age are not. That right there is a sign of serious trouble.

[Argyle58]

My husband works for the Washington State unemployment agency and he says that you look under these "good" numbers and its scary. 30% of able bodied men of working age are not. That right there is a sign of serious trouble.

 

Yes, these rosy unemployment figures they keep trotting out are a house of cards that is going to fall soon. The "o" had best get his "blame list" up to date, cause he can't blame what's coming on Bush.