12-07-2013, 10:46 PM #1
Unemployment rate hits five-year low
U.S. employers hired more workers than expected in November and the jobless rate hit a five-year low of 7.0 percent, raising chances the Federal Reserve could start ratcheting back its bond-buying stimulus as soon as this month.
Nonfarm payrolls increased by 203,000 jobs last month, following a similarly robust rise in October, the Labor Department said on Friday. The report, which showed broad gains in employment and a rise in hourly earnings, suggested strength in the economy heading into year-end.
"It will add further confidence to the Fed of a reduced need for monetary stimulus in the U.S. economy. We now see the bias shifting in favor of a January tapering announcement," said Millan Mulraine, senior economist at TD Securities in New York.
The unemployment rate dropped three tenths of a percentage point to its lowest level since November 2008 as some federal employees who were counted as jobless in October returned to work after a 16-day partial shutdown of the government.
The decline came even as the participation rate - the share of working-age Americans who either have a job or are looking for one - bounced back from October's 35-1/2-year low.
A separate report showed improving labor market prospects buoyed consumer confidence in early December.
Contributing to its firm tone, the jobs report showed that the length of the average workweek reached a three-month high and that 8,000 more workers were hired in September and October than previously reported.
In addition, a measure of underemployment that includes people who want a job but who have given up searching and those working part-time because they cannot find full-time jobs fell to a five-year low.Trade Bucket: Hidden Content
12-08-2013, 06:51 PM #2
12-08-2013, 08:01 PM #3
ITS ALL OBAMA'S FAULT!!!!!!!
Oh wait.....you said it's hit a five year LOW?
Well then, ALL PRAISE TO JESUS!
Clearly it had to be him who did this and not that ANTI-CHRIST, MUSLIM, DEGENERATE OBAMA!Logic and reason is all you need.
12-09-2013, 10:43 AM #4
12-09-2013, 12:57 PM #5
This figure is totally misleading. There are at least 10 million people in the USA in the last 5 years that have stopped looking for work. They are not included in this figure.
Those forced into minimum wage jobs from higher paid skilled jobs should also not be considered as employed.Collecting many HOF Cards, Old OPC, Old Parkhurst, Old Topps.
Want List:Hidden Content
12-09-2013, 02:13 PM #6
The Bureau of Labor and Statistics puts the real unemployment rate (the U-6) at 13.2%. That number counts everyone who is unemployed and is not currently looking for work (discouraged workers), but has looked for work in the last 12 months.
12-09-2013, 03:13 PM #7
Sure there are people who aren't employed that can't be counted based off of how they get this number, but that is always the case and it still shows a trend of fewer people being unemployed. I'm not sure how people being in jobs they are under qualified for would be able to be counted. A stat isn't and can't encompass every instance and isn't meant to. It's to help show trends and it shows that unemployment numbers are improving for whatever reason.
As for the The Bureau of Labor and Statistics number. Any idea what it was at when the other number was in the same range in the past? I'd be curious to see if it was equal at the time or if it was even higher.
12-09-2013, 04:42 PM #8
12-09-2013, 06:14 PM #9
12-09-2013, 07:13 PM #10
for me the blame doesn't land on anyone person or thing, it is all of their fault.
every side of government is not worth a crap, nearly none our worthy of their position and it is getting worse every 2 years.
There needs to be a "change" for real and neither side is capable of doing it for the better.
I thankful for the job I have and the industry I am in, as the same goes for my wife.
ut things are bad, good jobs are very hard to come by and no one is creating any new ones or at least not at teh oace we are loosing them.
I blame it on the bail outs, foreign aide, wars, and other government program spending, they should have been using that money to create jobs and let teh rest work itself out.Jay Shrewsbury