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The Spectacle Blog
The economy added merely 39,000 jobs in November, according to the Bureau of Labor Statistics, far worse than expectations of around 140,000. The unemployment rate edged up to 9.8 percent.
The economy had 1.3 million discouraged workers in November who gave up looking for work because they don’t think there are jobs available to them and are thus not included in the headline number. The broader measure of unemployment held steady at 17 percent.
While there have been encouraging signs here and there (incidently, October’s number was upgraded to 172,000 job gains), the labor market has just not been able to build any momentum, or string together several months of strong job growth.
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More Blog Posts by Philip Klein
http://spectator.org/blog/2010/12/03/nov-jobs-report-far-worse-than
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Curly Smith| 12.3.10 @ 9:21AM
Why is this a problem? If we add 39k jobs every month then we'll have those 15 million unemployed back to work in... 385 months! That's only 32 years!! And the full 26 million back on the payroll in a mere 667 months! I know, you're thinking "what about the 'utes entering the non-work force?". They're called "students" and they'll remain "students" until you're told otherwise. By the time President-for-Life Obama leaves office at least one student will have matriculated into the work force or the Republicans will be made to answer!
If you're wondering, at 172k jobs per month the 15 million will be back to work in 87 months (7 years) and the 26 million in 151 months (13 years). Of course the 'utes will still be "students"...
Eric Cartman| 12.3.10 @ 9:42AM
Good call there, Curly. BUT, you forgot to add in the 39,000 Mexican illegals that sneak in every month and take the Obama jobs away, so there will actually be zero growth for Americans, but enough to give all illegal kids free college education and voting rights to make sure Harry Reid stays in power. So you may have to add that variable.
Pete| 12.3.10 @ 9:50AM
This is just the natural, expected hitch in the "stimulus" plan...you know, where we transition from jobs "saved" to jobs "created." Don't you know anything about economics?
Harry Canary| 12.3.10 @ 4:38PM
Well we have been hollowing out the productive economy since the reagan regime. It will not be fixed quickly or easily. Basing an entire economy on salesboyship and marketeering is a failure. Inflating housing prices and stock market will get us nowhere as has been proven. amway pyramid scams masquerading as small business entrepeneurship do not benefit the country. Buying stuff from taiwan or vietnam and selling it at an inflated price to each other is not an economy. Neither is a gang of insurance salesboys and stock market scammers. Yeah we busted the Unions and showed those boys who is boss. Just one question, why is the economy and country not booming? We gave the rich tax cuts and deregulation. Why is the economy not booming? Why didn't the all powerful, glorious and efficient free markets weed out the bad banksters? Why did the banks need bailed out if all of the free markets libertaricon theory of deregulating the banks is worth the powder to blow it all to hell? It us going to be a long, hot, dusty ride till we come out on the other side.
Delaware Bob| 12.4.10 @ 12:52PM
This is just a thought, but if we get rid of all the illegal aliens, would this open up jobs for Americans. Illegal immigration is also costing us an estimated $250 BILLION a year for these illegal aliens. Think of the money we would save that could bring our enormous debt down. So maybe it is time to get our immigration laws ENFORCED and finally get the illegal aliens out of this Country. Another costly thing are the anchor babies.
levotb| 12.4.10 @ 3:27PM
9.8%? Brouhahahahaha!! No, Mr. Klein, it's over 25% and climbing. I'll take Jerome Corsi's numbers over the Feds' any day.
VivaLaMigra| 12.4.10 @ 5:29PM
Funny, eh, how the U3 rate miraculously, month after month, stubbornly refuses to go to 10.0%...ie the phsychological "double-digit mark?" Of course as pointed out by another P, the U6 rate is EASILY double digits, TWICE OVER! We have between one in four, and one in five [best case!] Americans out of work. Meanwhile, the useless feds can't even arrest Nikki Diaz! What a joke!