Draggingtree Posted December 9, 2012 Share Posted December 9, 2012 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 Link to comment Share on other sites More sharing options...
Argyle58 Posted December 9, 2012 Share Posted December 9, 2012 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. Link to comment Share on other sites More sharing options...
pollyannaish Posted December 9, 2012 Share Posted December 9, 2012 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. Link to comment Share on other sites More sharing options...
Argyle58 Posted December 9, 2012 Share Posted December 9, 2012 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. 1 Link to comment Share on other sites More sharing options...
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