Not So Merry Jobs Report: Unemployment Up to 9.8 Percent, News Media Disappointed
The unemployment rate rose in November, from 9.6 percent up to 9.8 percent after only 39,000 jobs were added to the workforce. On MSNBC's "Morning Joe" Mark Haines of CNBC called the data "disappointing."
Haines went on to say, "An optimist or a sunny 'glass is half full' kind of person would say the unemployment rate may have ticked up because more people are now looking for work. That's the way that unemployment rate works … but I will grant you that that is a reach."
Although downbeat, CNN's Christine Romans did "reach" for that explanation on "American Morning," saying, "it likely means that more people are trying to get into the labor market to get a job."
Haines also put the jobs report in context of the tax debate raging in Congress right now. He remarked that with those numbers it would "politically very difficult" to raise taxes on anyone.
The total number of unemployed in November was 15.1 million people, according to the Bureau of Labor Statistics. Bloomberg.com had reported Dec. 3, but before the data was released, that payrolls were forecast to increase by 150,000 for the month. The actual November net gain was just over one-quarter of that estimate.
November also marks the 16th straight month of 9.5 percent or higher unemployment rate, "the longest such stretch since records began in 1948," Bloomberg reported.
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Comments
Ok I will bite how does the
Submitted by ninerdog on Fri, 12/03/2010 - 12:42pm.
Ok I will bite how does the rate change for 9.6 to 9.8 and 36,000 jobs were added? Seems to me that someone is using that new math again….
Created or Saved??
Submitted by Joe W. on Fri, 12/03/2010 - 12:46pm.
What happened to the 3 million jobs Barack has created or saved?? Not since the Great Depression has our country suffered such dismal unemployment statistics.
You must be a liberal, as
Submitted by pwb on Fri, 12/03/2010 - 12:56pm.
You must be a liberal, as only a liberal would not understand basic economics. You need more then 150,000 job to just hold employment even, this is do to people coming into the work force.
So someone who has never had
Submitted by ninerdog on Fri, 12/03/2010 - 12:58pm.
So someone who has never had a job before is able to get unemployment?
At least
Submitted by Vonu on Fri, 12/03/2010 - 1:20pm.
Gold is back to 1400 Federal Reserve Notes and porn is still free. Whose to worry?
It's so hard to spin crap
Submitted by Barack_must_go..... on Fri, 12/03/2010 - 1:28pm.
It's so hard to spin crap into something it's not, but it's still fun watching the lame street media give it their best try.
No matter how much they water it down it's still just crap, only now they're attempting to pass it off as a delicious smothie drink.
They are so beside themselves with grief they are actually instructing their viewers not to believe the figures. They are 100% certain the numbers will be drastically adjusted in favor of the Obama administration if we'll only be patient for a month.
Barack_Must_Go.....
There's that tool Scarborough
Submitted by Van Halen on Fri, 12/03/2010 - 1:31pm.
There's that tool Scarborough and that giggly little sidekick scrunt who fawns over every thing he says. Watch them both go on and on about how bad Palin is while their Boy Wonder in the White House delivers yet another month of Epic Fail.
When W was president...
Submitted by Prester John on Fri, 12/03/2010 - 1:32pm.
....every single bit of good economic news was called "unexpected" and every bit of bad news was decried by the Dems and MSM.With BHO every bit of bad economic news is called "unexpected" and every bit of good new is, uh, I guess there really hasn't been any good news, has there?
"The Truth is Treason in the Empire of Lies"
www.campaignforliberty.com
I remember during the Bush
Submitted by amram on Fri, 12/03/2010 - 1:36pm.
I remember during the Bush administration, when unemployment went up to about 4.4%. The media broke out the pitchforks and torches, and prepared to storm the White House and rid the world of that heinous fool in the oval office. All I hear now from them is the sound of crickets.
Scholastica
The for-real unemployment rate is probably on the north side of
Submitted by Dave. on Fri, 12/03/2010 - 4:39pm.
...20%.
I call that a depression.
Vote for the American in November
It's a very sad, but very old and very familiar scenario.
Submitted by Rush Fan on Fri, 12/03/2010 - 7:10pm.
How many times over the years have you read news stories regarding the jobless folks who need assistance. The Atlanta Journal-Constitution has a recent article titled Hundreds line up in the cold for help heating homes. What is old and familiar are the stories of mothers, many of them single mothers, who need assistance. Many, if not most of them I would guess, are Black.
Although I sympathize with their plight, especially those who have children, my compassion is mollified by my belief that their situation has been compounded by the choices and decisions that they've made in their life. Take for example Lakesha, who the Journal-Constitution reports, has been out of work for two years. Lakesha is the mother of six. Sadly, six children may be suffering because their mother made the wrong choices.
If Lakesha voted in previous elections, she most likely voted for Democrats. It is sad and ironic that the political party partly responsible for the depressing situation of Lakesha and many other Black Americans continues to receive their vote and support.