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Ear to the Ground

Joblessness Ticks Higher in November

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Posted on Dec 3, 2010
Unemployment
Flickr / getfrank.

The uptick in unemployment caught analysts by surprise as the economy added a paltry 39,000 jobs in November.

Like a recalcitrant and over-sugared child, U.S. unemployment figures just won’t settle down. The country’s jobless rate ticked up to 9.8 percent in November, a world away from economic recovery. —JCL

Los Angeles Times:

In a major setback for the economy, the nation’s jobless rate jumped to 9.8% in November as employers added a surprisingly measly amount of new jobs over the month, the government said Friday.

The unemployment rate had been at 9.6% in the prior three months. The increase last month came as employers added just 39,000 jobs in November—a sharp drop-off from a revised 172,000 job gains in October and an average monthly gain of 86,000 this year.

Many analysts were expecting that the report would show a second strong month of job growth, on the order of 150,000 or more new jobs. And there have been other signs that the long-sluggish labor market may be gaining momentum.

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RayLan's avatar

By RayLan, December 6, 2010 at 2:22 am Link to this comment

It’s already a proven fact that tax cuts don’t create jobs - since they’ve already been in place for years.
Not giving tax cuts for the rich will improve the deficit by several billion.
But the Reps talk out of both sides of their mouth on that subject. The market is emotional. If businesses ‘feel’ confident, they’ll hire. We have to wait till all the political dust settles to see what’s left of the public sector pie, before seeing the confidence level.

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PatrickHenry's avatar

By PatrickHenry, December 5, 2010 at 11:52 am Link to this comment

Inherit,

I was in the military in California when Ray-gun took office.  Alot of the folks there were squimish since he was once the Governor and had a track record.

I did get a big pay raise from him with borrowed money.

He is the originator of the trillions in debt we have today.

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By CaptRon, December 5, 2010 at 1:07 am Link to this comment

TRASH THE “AT WILL” CLAUSE ALLOWING TERMINATIONS FOR ANY REASON. It gives employers free reign to trash your life without the loyalty they want from their employees. Like respect, you don’t get what you don’t give.

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rico, suave's avatar

By rico, suave, December 4, 2010 at 3:52 pm Link to this comment

Anderson:

Can you guess who I would blame?

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G.Anderson's avatar

By G.Anderson, December 4, 2010 at 2:46 pm Link to this comment

America is still is a country of rich resources, and a capable work force, the most productive in the world.

There is no reason for us having economic problems like this, except that someone wants it that way.

The American people need to identify who this is, and exercise our constititutional rights to have them arrested or to do what ever it takes.

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By Inherit The Wind, December 4, 2010 at 12:01 am Link to this comment

PatrickHenry, December 4 at 12:24 am Link to this comment

Raise taxes on those American companies who outsource jobs overseas.

Make the tax code preferable to domestic job producers.
***********************

That’s precisely the opposite of what Reagan instituted in 1982.  It was part of his, and the GOP’s multi-pronged attack on unions in America.  It was, overall, successful, as it broke the political power of the unions, wiped out over 3.5 million union jobs permanently, and seriously cut production costs for corporations. It was a smashing success!

(and who gives a shit that it was the foundation of the fantastic economic collapse we’ve been seeing ever since, finally going over the cliff in 2008—Hell, the rich got many times richer so it MUST be a good thing, right? Right?? RIGHT????)

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By Scoremore, December 3, 2010 at 11:30 pm Link to this comment
(Unregistered commenter)

unemployment rate is now a crisis,must worth for a government’s attention.hope that this issue will resolve as soon as possible.because all the people needs job…and it’s really important.thanks for sharing this information.

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By John P., December 3, 2010 at 10:08 pm Link to this comment
(Unregistered commenter)

Our government bailed out Wall Street, but what happens to the regular and
lower class people that paid into Wall Street? 

Our government lets us pay out all of our 401k plans and savings if any to stay
afloat.

With no jobs for money to pay to mortgages and rents, anything saved will be
gone - then it’s homeless time, or, if you have any family, they may let you
move in.

So ugly that they do not pass unemployment extensions automatically.

The lower and middle class get a ride on the “How do you like Coporate greed
wagon?”

A nation full of Scrooges.  The true colors of America.

How shameful.

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By Silvo Francis, December 3, 2010 at 10:01 pm Link to this comment
(Unregistered commenter)

It is sad that eve Truthdig buys into the administration’s under reporting of unemployment by using U3 (9.8%) instead of the much, much more realistic U6 (17%) number.  Both are “official” statistics and both are released at the same time.

The other thing worth noting is how often these numbers get substantially “adjusted” up or down a month or two after the initial release. In other words, watch the trends, don’t obsess over individual months.

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PatrickHenry's avatar

By PatrickHenry, December 3, 2010 at 7:24 pm Link to this comment

Raise taxes on those American companies who outsource jobs overseas.

Make the tax code preferable to domestic job producers.

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By Stupid Git, December 3, 2010 at 6:43 pm Link to this comment
(Unregistered commenter)

If this includes the “seasonal hires” for all the demands of the holiday shopping
and travel then these are truly bleak numbers. I hate to see how bad the numbers
are in January when seasonal hires are laid off.

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rico, suave's avatar

By rico, suave, December 3, 2010 at 5:46 pm Link to this comment

Gmonst:

“Its going to really start accelerating soon as the government decides to give more to the rich and tighten the belt for everyone else.”

I’m not quite sure I understand what you mean. What decision is in the offing which will give more to the rich? A tax cut? And how will everyone else be squeezed? With a tax increase? Is there anything going through Congress right now suggesting that?

Since this article is about the unemployment rate, can I assume by your statement that you believe that giving less to the rich (i.e., letting their taxes rise in January) will lower unemployment? Can you explain how?

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By Gmonst, December 3, 2010 at 3:40 pm Link to this comment

This is a long way from getting better.  My feeling is this is about to get drastically worse over the next couple of years.  Its really just beginning.  The way I see it its 1930 and things have been getting steadily worse for the last two years since the crash.  Its going to really start accelerating soon as the government decides to give more to the rich and tighten the belt for everyone else.  We have been squeezed to the breaking point and just might be broken over the next couple of years.

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