US creates 203,000 jobs as unemployment rate falls

[umbertino]

United States non-farm payrolls much better-than-expected in November and unemployment rate drops to 7pc

 

 

By Katherine Rushton, US Business Editor

2:34PM GMT 06 Dec 2013

 

 

 

America’s unemployment rate has fallen to a five-year low, raising expectations that the US Federal Reserve will finally start weaning the country off its package of fiscal stimulus measures.

 

Some 203,000 extra non-farm jobs were created in November, outstripping forecasts of 180,000 and pushing the country’s unemployment rate to 7pc. Economists had expected it to drop from 7.3pc in October to 7.1pc last month.

 

The number of new jobs added in September and October were also revised upwards by 8,000, lending strength to the suggestions that the American employment market could be at the start of a sustained recovery.

 

The Fed has repeatedly said the US jobs situation must improve before it starts winding down its $85bn-a-month bond buying programme.

 

Friday’s figure’s immediately buoyed expectations that it will finally take action at its policy setting meeting in under two weeks’ time, pushing up Government bond yields and the dollar.

 

 

Minutes from the central bank’s October meeting showed that Fed members were preparing to scale back the so-called “quantitative easing” scheme it has been using to prop up the US economy, as long as the recovery remained on track and the jobs situation improved.

 

Some economists predicted that the central bank will now start tapering the so-called “quantitative easing” scheme as early as December. However, the majority still expect the Fed to wait for clearer evidence of a sustained improvement, delaying tapering until next year.

 

It will then fall under the auspices of Janet Yellen, the woman who has spearheaded the central bank’s focus on jobs and who is due to take over as chairman in January.

 

US unemployment declined in November despite a slight increase in the number of people who either have a job or are looking for one - the “participation rate” – which dipped to a 35-year low last month.

 

The gains were reasonably broad based. Some 27,000 manufacturing jobs were added, marking the fourth monthly increase in a row, whilst the construction industry added 17,000 extra jobs, notwithstanding a slowdown in the US housing recovery.

 

The figures follow a buoyant set of data on Thursday, when the Labour Department said initial claims for state unemployment benefits fell 23,000 to 298,000 last week – the third week in a row it has dropped. The data surprised economists, who had forecast an increase to 325,000 job claims.

 

 

http://www.telegraph.co.uk/finance/economics/10500778/US-creates-203000-jobs-as-unemployment-rate-falls.html

 

[Kandi77]

But how many of them were just Part Time?  And how many Full time jobs had hours cut?  Just wondering!

[dog53]

US creates 203,000 jobs as unemployment rate falls
 

 

Yeah

Welcome to walmarts

[desimo]

Increase in holiday labor.  When there is a real decrease in the unemployment rate and nothing special happening then I'll believe there is an improvement.

[TexasGranny]

203,000 new jobs will not make a dent in the unemployment rate unless there was another huge number dropping out of the labor force because they couldn't find a job. The labor participation rate is already the lowest its been since sometime in the 70's.

 

NOT ALL GOOD NEWS: This report isn’t purely good news. Most troubling is what is happening in the household survey which measures the unemployment rate. It is probably best to look at the trend between September and November, because the October jobs data were distorted by the government shutdown. Between September and November, the jobless rate has fallen from 7.2% to 7%. That’s good news, but look at why: Employment during this stretch is up just 83,000. The number of people in the labor force during this stretch is down 664,000. The jobless rate is down largely because people are leaving the labor market, removing themselves from the ranks of those who are counted as unemployed because they’ve stopped looking. The labor force participation rate fell between September and November fell from 63.2% to 63.0% –more evidence of a “hysteresis” problem of long-term unemployed workers fleeing the job market.

 

http://blogs.wsj.com/economics/2013/12/06/hilsenraths-five-takeaways-on-what-the-jobs-report-means-for-the-fed/

 

 

Group                                                 1950 1960 1970 1980 1990 1998 2015 2025

 

Total, 16 and older ........................ 59.2 59.4 60.4 63.8 66.4 67.1 66.9 63.2

 

As usual, smoke and mirrors for this administration!

 

 

Meanwhile, the population has more than doubled since 1950

 

Oct 1, 2013 316.80 million Jul 1, 2013 316.16 million Jul 1, 2012 313.91 million Jul 1, 2011 311.59 million Jul 1, 2010 309.35 million Jul 1, 2009 306.77 million Jul 1, 2008 304.09 million Jul 1, 2007 301.23 million Jul 1, 2006 298.38 million Jul 1, 2005 295.52 million Jul 1, 2004 292.81 million Jul 1, 2003 290.11 million Jul 1, 2002 287.63 million Jul 1, 2001 284.97 million Jul 1, 2000 282.16 million Jul 1, 1999 279.04 million Jul 1, 1998 275.85 million Jul 1, 1997 272.65 million Jul 1, 1996 269.39 million Jul 1, 1995 266.28 million Jul 1, 1994 263.13 million Jul 1, 1993 259.92 million Jul 1, 1992 256.51 million Jul 1, 1991 252.98 million Jul 1, 1990 249.62 million Jul 1, 1989 246.82 million Jul 1, 1988 244.50 million Jul 1, 1987 242.29 million Jul 1, 1986 240.13 million Jul 1, 1985 237.92 million Jul 1, 1984 235.83 million Jul 1, 1983 233.79 million Jul 1, 1982 231.66 million Jul 1, 1981 229.47 million Jul 1, 1980 227.23 million Jul 1, 1979 225.06 million Jul 1, 1978 222.59 million Jul 1, 1977 220.24 million Jul 1, 1976 218.04 million Jul 1, 1975 215.97 million Jul 1, 1974 213.85 million Jul 1, 1973 211.91 million Jul 1, 1972 209.90 million Jul 1, 1971 207.66 million Jul 1, 1970 205.05 million Jul 1, 1969 202.68 million Jul 1, 1968 200.71 million Jul 1, 1967 198.71 million Jul 1, 1966 196.56 million Jul 1, 1965 194.30 million Jul 1, 1964 191.89 million Jul 1, 1963 189.24 million Jul 1, 1962 186.54 million Jul 1, 1961 183.69 million Jul 1, 1960 180.67 million Jul 1, 1959 177.83 million Jul 1, 1958 174.88 million Jul 1, 1957 171.98 million Jul 1, 1956 168.90 million Jul 1, 1955 165.93 million Jul 1, 1954 163.03 million Jul 1, 1953 160.18 million Jul 1, 1952 157.55 million Jul 1, 1951 154.88 million Jul 1, 1950 152.27 million

Edited December 6, 2013 by TexasGranny

[aliciadogz]

I just got a state job at the college it took me months of putting appts out there and sure wasn't obama that got my job it the voters and taxes payers of my state that gave me my job. Most of jobs out there are part time and no benefits I wonder how many of those jobs are part time and seasonal so now we have about 4 to 5 million needing jobs still, big deal on 7% lie.

Edited December 6, 2013 by mydogz

[TPSprayduster]

If you want a job you can get one, but some want the 9-5 sit behind a desk.  Try the Shale oil boom you can get a job, but it requires hard work.  No one wants to do that though.

[waterman13]

yeah, right. been out of work for over a year, nothing!

Wm13

[gymrat76541]

What is sad to me is that there are many college graduates who can not find good employment.

 

Back in the day (OK I am old) you could get a decent job straight out of High School. Usually in the trades.

 

I had two folks recently who were working for me, both had Master's Degrees, and one more who had a Doctorate. They found better paying positions after a few months searching (3 to 6 months) but it was a shame that they had to sink so low only making $10 per hour.

 

I honestly do not know how some of our employees married with children survive making $10 to $12 per hour. Our economy sucks these days.

[The Machine]

What is sad to me is that there are many college graduates who can not find good employment.

 

Back in the day (OK I am old) you could get a decent job straight out of High School. Usually in the trades.

 

I had two folks recently who were working for me, both had Master's Degrees, and one more who had a Doctorate. They found better paying positions after a few months searching (3 to 6 months) but it was a shame that they had to sink so low only making $10 per hour.

 

I honestly do not know how some of our employees married with children survive making $10 to $12 per hour. Our economy sucks these days.

 

Wow .... $10 per hour is less than minimum wage in the UK, not by much but I suppose every little helps at that hourly rate.

 

there is no way anyone with kids could survive on that here anyway

[TPSprayduster]

yeah, right. been out of work for over a year, nothing!

Wm13

You must not be looking hard waterman, jobs are out there.  You might want to switch your profession.

[sportfisher]

But how many of them were just Part Time?  And how many Full time jobs had hours cut?  Just wondering!

all the federal unemployment extensions end Dec 31, 2013

anyone still on them, or on claims that expire and still have no job, will still show as a drop in unemployment. They take their statistic from new unemployment claims, not even close to reality. Not to mention the self employed that have no work.

What is sad to me is that there are many college graduates who can not find good employment.

 

Back in the day (OK I am old) you could get a decent job straight out of High School. Usually in the trades.

 

I had two folks recently who were working for me, both had Master's Degrees, and one more who had a Doctorate. They found better paying positions after a few months searching (3 to 6 months) but it was a shame that they had to sink so low only making $10 per hour.

 

I honestly do not know how some of our employees married with children survive making $10 to $12 per hour. Our economy sucks these days.

you can thank your savior obama for that.

[umbertino]

Wow .... $10 per hour is less than minimum wage in the UK, not by much but I suppose every little helps at that hourly rate.

 

there is no way anyone with kids could survive on that here anyway

For what I can recall and am  told nowadays.... Cost of living is less expensive in the US ( at least some parts of the Country) than it is in most Countries in Western Europe. I mean let alone the USD-Euro difference obviously......Things ( food, clothing, etc.) cost less in the US generally.

[sportfisher]

For what I can recall and am  told nowadays.... Cost of living is less expensive in the US ( at least some parts of the Country) than it is in most Countries in Western Europe. I mean let alone the USD-Euro difference obviously......Things ( food, clothing, etc.) cost less in the US generally.

sure it's less.................if you don't live anywhere, go anywhere, or do anything..............wait.............even then you will be fined with a "tax" if you don't buy something you don't want, and don't need, that you can't afford..........thanks obummer for your obummercare.

 

remember, it's all about the chip implant / mark of the beast.

all this from the father of lies.............lord of the flies.