Economy Adds 146,000 Jobs In November

Posted in the Minneapolis Forum

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Bob Schmahl

Minneapolis, MN

#1 Dec 8, 2012
The economy created 146,000 jobs in November, nearly doubling expectations, according to a Friday report by the Bureau of Labor Statistics.

The top-line employment figures exceeded analyst expectations, which factored in a significant drag caused by Hurricane Sandy, which made landfall on the east coast on October 29. But the unemployment rate actually dropped two points to 7.7 percent, and the Department of Labor explicitly cautioned that its “analysis suggests that Hurricane Sandy did not substantively impact the national employment and unemployment estimates for November.”

The promising headline numbers, however, were partially offset by weak internals in the survey, which included downward revisions to the previous two payroll reports. BLS now reports that the economy created 132,000 jobs in September, down from its initial estimate of 148,000; and 138,000 jobs in October, down from its initial estimate of 171,000.

BLS’ household survey — a separate survey the government uses to gauge the strength of the labor market — reports a slight drop in both employment and the size of the labor force.

Despite some weak internal figures, including an uptick in the employment to population ratio, the report comes as a welcome surprise given the consensus that exogenous factors, like Sandy and the looming fiscal cliff, have hamstrung the labor market in recent weeks.
non-starter

Saint Paul, MN

#2 Dec 8, 2012
Jobs for Christmas seasonal workers always tick up in November.
Bob Schmahl

Minneapolis, MN

#3 Dec 9, 2012
Given that Sandy caused many to lose their jobs, this report is great!
digger

Minneapolis, MN

#4 Dec 9, 2012
It's only temporary.... When the fiscal cliff hits on Jan. 1, layoffs will commense and the full impact of Sandy will emerge. Austerity will be in place, taxes will rise, spending will slow, and we will be in another recession, with rising deficits, and lower revenues. Jobs in autos and housing will fade as well.

Going back to the Clinton-era tax rates isn't going to help....this isn't a "1990's" economy and we have a HUGE national debt to deal with. Clinton sent many of our jobs out of the country with him signing "free trade with China" and NAFTA,
and most of those jobs won't be coming back, even with rising labor costs in China. China is rich with cash, and is buying oil fields, real estate, and American companies as fast as they can.
Robert

Lees Summit, MO

#6 Dec 9, 2012
540,000 people dropped off in November because their 99 weeks of unemployment ran out. I wonder why they never report those numbers? 146,00 is a good start but it would be nice if it was 300,000. So letting taxes go up on the evil corporations who hire people will have an adverse affect. But to not count the ones that ran out of benefits is really misleading for the job numbers and the unemployment percentage!
Bob Schmahl

Minneapolis, MN

#7 Dec 9, 2012
The "evil corporations" are paying the lowest taxes they have in decades once you factor in all the loopholes. So where are all the jobs then? By your logic, we should be at full employment.
digger

Minneapolis, MN

#8 Dec 9, 2012
Bob Schmahl wrote:
The Republicans aren't dumb enough to let the fiscal cliff happen. They'd take all the blame.
No they won't. Obama refuses to cut ANYTHING except the military, and tax increases alone PLUS obamacare PLUS an extra $5 TRILLION in national debt in his FIRST term means NO balanced budget, let alone a budget surplus. This one will be on obama and his minions.
Amused Slew

Seattle, WA

#9 Dec 9, 2012
Yeah, because the "used car guy" says so ?? LMAOROTFu~!
Bob Schmahl

Minneapolis, MN

#10 Dec 9, 2012
digger wrote:
<quoted text>
No they won't. Obama refuses to cut ANYTHING except the military, and tax increases alone PLUS obamacare PLUS an extra $5 TRILLION in national debt in his FIRST term means NO balanced budget, let alone a budget surplus. This one will be on obama and his minions.
The polls all say you are wrong. America does not want cuts in social programs and DOES want increases in taxes on the rich.
digger

Minneapolis, MN

#11 Dec 9, 2012
Bob Schmahl wrote:
<quoted text>
The polls all say you are wrong. America does not want cuts in social programs and DOES want increases in taxes on the rich.
Wrong..... Many, if not MOST Americans want cuts in SOCIAL PROGRAMS, PORK PROJECTS that flush tons of cash down the toilet, cuts in federal and state payrolls and salaries, foreign aid, regulations, and departments. Stop BAILING OUT BANKS, AUTO COMPANIES, so-called "green" companies, WALL STREET, and don't even THINK about bailing out Europe. Food stamps, cell phones, utility bill assistance, tax credits for "green" vehicles, farm subsidies, unprofitable transportation projects like "light rail" or "high speed rail" ALL need to be CUT BIG TIME.

STOP BUYING VOTES for your re-elections with DEBT-LADEN tax credits and do the RIGHT THING.

Increasing taxes on the rich will help, but it won't FIX the overall problem. The federal budget is WAY UP in terms of percentage of GDP, that figure needs to get below 20%, and soon.
Bob Schmahl

Minneapolis, MN

#12 Dec 10, 2012
Obviously you saw a different voter last month than I did.
Robert

Lees Summit, MO

#13 Dec 10, 2012
Bob Schmahl wrote:
The "evil corporations" are paying the lowest taxes they have in decades once you factor in all the loopholes. So where are all the jobs then? By your logic, we should be at full employment.
Bob the day the economy turned south people were layed off. This went on for a couple of years. After 99 weeks of unemployment they dropped off. There are still 23 million without jobs. But the unemployment went from 10% to 7.7% adding only 1.5 million jobs the last 2 years. But since they don't count those people it is giving Americans a false sense of security. And after you have been on unemployment for the last 99 weeks why would you want a job we you can continue to get a free check and sit on your sofa.
Robert

Lees Summit, MO

#14 Dec 10, 2012
When you rob Peter to pay Paul you will always have the support of the Paul's!
Robert

Lees Summit, MO

#15 Dec 10, 2012
Let me share with you how Home Depot is going to get out of paying more taxes. They are flush with cash like most large companies that are not union. They are going to spend billions buying back their stock, therefore minimizing their tax liability. The government be damned is their attitude. An I am right there with them.

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#16 Dec 10, 2012
Bob Schmahl wrote:
The economy created 146,000 jobs in November, nearly doubling expectations, according to a Friday report by the Bureau of Labor Statistics.
The top-line employment figures exceeded analyst expectations, which factored in a significant drag caused by Hurricane Sandy, which made landfall on the east coast on October 29. But the unemployment rate actually dropped two points to 7.7 percent, and the Department of Labor explicitly cautioned that its “analysis suggests that Hurricane Sandy did not substantively impact the national employment and unemployment estimates for November.”
The promising headline numbers, however, were partially offset by weak internals in the survey, which included downward revisions to the previous two payroll reports. BLS now reports that the economy created 132,000 jobs in September, down from its initial estimate of 148,000; and 138,000 jobs in October, down from its initial estimate of 171,000.
BLS’ household survey — a separate survey the government uses to gauge the strength of the labor market — reports a slight drop in both employment and the size of the labor force.
Despite some weak internal figures, including an uptick in the employment to population ratio, the report comes as a welcome surprise given the consensus that exogenous factors, like Sandy and the looming fiscal cliff, have hamstrung the labor market in recent weeks.
Good news:+146,000 jobs in November
Bad News:-544,000 people in the work force

Real news not reported by the corrupt Obama Administration:

- Real unemployment numbers are up, not down.
- The economy is not improving.
- The future for job seekers is dismal.
- More people are dependent on the government for their allocation of cheese each month.

Good news for Obama: Very few of the low information voters know how to read a BLS Jobs Summary. So they will never know what the real situation is until after they have been conned into giving up almost all their freedoms in exchange for "security" and "sustenance" from the all mighty government.
Amused Slew

Seattle, WA

#17 Dec 10, 2012
Trolls/ball sack boi<quoted text> If you can find a flux capacitor, I will travel back in time with Michael J Fox, log in to Topix, and complain about Bush, Sure! You wont catch me defending Bush. He made PLENTY of mistakes.
I have never said Bush didn't make mistakes. I will even admit that they affected Obama's presidency...

IrishMN <quoted text>
When have you ever seen me beating the drum for Bush by saying he did not start diggin us into the hole we are in?
The best thing Bush did was leave office.
We could not afford 4 more years of GWB.....

Yet, ALL of you hypocrite humper bois CRY, whenever we mention ANY Bush culpability !??? WOW ! What a pair.... Mae West would be proud of you boobs ! LMAOROTF !
digger

Minneapolis, MN

#18 Dec 10, 2012
Amused Slew wrote:
Trolls/ball sack boi<quoted text> If you can find a flux capacitor, I will travel back in time with Michael J Fox, log in to Topix, and complain about Bush, Sure! You wont catch me defending Bush. He made PLENTY of mistakes.
I have never said Bush didn't make mistakes. I will even admit that they affected Obama's presidency...
IrishMN <quoted text>
When have you ever seen me beating the drum for Bush by saying he did not start diggin us into the hole we are in?
The best thing Bush did was leave office.
We could not afford 4 more years of GWB.....
Yet, ALL of you hypocrite humper bois CRY, whenever we mention ANY Bush culpability !??? WOW ! What a pair.... Mae West would be proud of you boobs ! LMAOROTF !
Talk about a "boob".... Aren't you late for that SHRINK appointment?
Amused Slew

Seattle, WA

#19 Dec 10, 2012
Trolls/ball sack boi<quoted text> If you can find a flux capacitor, I will travel back in time with Michael J Fox, log in to Topix, and complain about Bush, Sure! You wont catch me defending Bush. He made PLENTY of mistakes.
I have never said Bush didn't make mistakes. I will even admit that they affected Obama's presidency...

IrishMN <quoted text>
When have you ever seen me beating the drum for Bush by saying he did not start diggin us into the hole we are in?
The best thing Bush did was leave office.
We could not afford 4 more years of GWB.....

Yet, ALL of you hypocrite humper bois CRY, whenever we mention ANY Bush culpability !??? WOW ! What a pair.... Mae West would be proud of you boobs ! LMAOROTF !
Robert

Lees Summit, MO

#20 Dec 10, 2012
Slew the Slug
Robert

Lees Summit, MO

#22 Dec 10, 2012
Wow look at me, I can copy and paste the same thing over and over again also!!! Slew you are such a ReTTARD

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